ANNUAL REPORT

OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

FOR THE YEAR ENDING 

DECEMBER 31, 1935

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Federal Reserve Bank of St. Louis
LETTER OF TRANSMITTAL

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

Washington, D. C., September 1, 1936.

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 o f 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
Introduction............................................................................................................................. 3

PART ONE

OPERATIONS OF THE CORPORATION DURING THE YEAR ENDING

DECEMBER 31, 1935

Inauguration of permanent plan of insurance of bank deposits.......................... 7

Organization and staff.......................................................................................................... 8

Financial aspects of the Corporation............................................................................. 9

Payments.to depositors in suspended insured banks............................................... 11

Liquidation of insured banks in receivership.............................................................. 16

Loans on assets of insured banks..................................................................................... 17

Admissions to and terminations of insurance.............................................................. 18

Applications for capital changes and for release of restricted deposits.............. 22

Bank examinations................................................................................................................ 23

Regulations and rulings of the Corporation................................................................ 24

State legislation affecting deposit insurance................................................................ 27

Problems and policies of the Corporation..................................................................... 28

PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

Summary of banking developments............................................................................... 35

Changes in number of commercial banking offices................................................... 35

Changes in assets and liabilities of insured commercial banks............................. 37

Appraisal of assets of insured commercial banks not members of the Federal

Reserve System.................................................................................................................. 40

Capital of insured commercial banks............................................................................. 41

Earnings of insured commercial banks.......................................................................... 44

Mutual savings banks.......................................................................................................... 48

PART THREE

RESEARCH REPORTS

Membership of the temporary Federal deposit insurance funds......................... 55

PART FOUR

LEGISLATION, REGULATIONS, AND INSTRUCTIONS

Deposit insurance legislation............................................................................................. 67

Regulations of the Federal Deposit Insurance Corporation................................. 87

Miscellaneous rules, resolutions, and interpretations............................................... 102

Regulations and rulings of the Board of Governors of the Federal Reserve

System.................................................................................................................................... 104

Forms and instructions........................................................................................................ 104

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Explanatory note.................................................................................................................... 121

Number of banks and branches........................................................................................ 122

Deposits in banks................................................................................................................... 150

Assets and liabilities of operating banks...................................................................... 170

Examiners' analyses of insured banks............................................................................ 182

Capital investment of the Reconstruction Finance Corporation......................... 196

Earnings of insured commercial banks.......................................................................... 198

Bank suspensions and receiverships................................................................................ 224

Federal Deposit Insurance Corporation....................................................................... 230

v

CONTENTS

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VI LIST OF TABLES

L IS T O F T A B L E S

PART ONE

OPERATIONS OF THE CORPORATION DURING THE YEAR ENDING

DECEMBER, 31, 1935

Page

O r g a n i z a t i o n a n d S t a f f :

1. Officers and employees of the Federal Deposit Insurance Corporation, December 31, 1935............................................................................. 9

F i n a n c i a l A s p e c t s o f t h e C o r p o r a t i o n :

2. Comparative balance sheet of the Federal Deposit Insurance Corporation, December 31, 1935, and December 31, 1934.................. 12

3. Analysis of surplus account and distribution of administrative expenses, Federal Deposit Insurance Corporation, calendar year

1935.................................................................................................................... 13

P a y m e n t s t o D e p o s i t o r s i n S u s p e n d e d I n s u r e d B a n k s :

4. Deposits in the 24 insured banks placed in receivership during 1935 14

A d m i s s i o n s t o a n d T e r m i n a t i o n s o f I n s u r a n c e :

5. Banks not members of the Federal Reserve System approved and

rejected for insurance August 23— December 31, 1935.................. 19

6. Classification of banks admitted to insurance and banks terminating insurance during 1935, by class of bank................................ 21

PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

C h a n g e s i n N u m b e r o f C o m m e r c i a l B a n k i n g O f f i c e s :

7. Number of operating commercial banks and branches in the United

States and possessions at close of 1934 and 1935............................. 35

8. Changes in number of operating commercial banks and branches in

the United States and possessions during 1935..................... ........... 36

C h a n g e s i n A s s e t s a n d L i a b i l i t i e s o f I n s u r e d C o m m e r c i a l B a n k s :

9. Changes during 1935 in assets and liabilities of insured commercial

banks.................................................................................................................. 37

A p p r a i s a l o f A s s e t s o f I n s u r e d C o m m e r c i a l B a n k s N o t M e m b e r s o f

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

10. Worthless and doubtful assets of insured banks not members of the

Federal Reserve System at time of examination in 1935.............. 41

C a p i t a l o f I n s u r e d C o m m e r c i a l B a n k s :

11. Changes in total capital account of insured commercial banks

during 1935...................................................................................................... 41

12. Number of insured commercial banks not members of the Federal

Reserve System grouped according to ratio of net sound capital to

deposits, latest examination in 1935...................................................... 42

13. Insured commercial banks not members of the Federal Reserve

System grouped according to ratio of net sound capital to deposits, examinations in 1933, 1934 and 1935...................................... 43

E a r n i n g s o f I n s u r e d C o m m e r c i a l B a n k s :

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

banks, 1935...................................................................................................... 44

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

banks, 1934 and 1935, by class of bank............................................... 45

16. Net earnings per $100 of total assets, insured commercial State

banks, 1934 and 1935, banks operating throughout the entire year

grouped by amount of deposits............................................................... 46

17. Rates of interest received on loans and on securities and paid on

time deposits by insured commercial banks not members of the

Federal Reserve System, 1934 and 1935............................................. 47

18. Earnings, expenses, and disposition of profits, ratios, insured commercial State banks, 1935, banks reporting net earnings compared with banks reporting net losses................................................... 48

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LIST OF TABLES vii

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M u t u a l S a v i n g s B a n k s :

19. Changes during 1935 in the number and deposits of mutual savings

banks insured by the Federal Deposit Insurance Corporation. . . . 49

20. Assets and liabilities of 56 mutual savings banks insured by the

Federal Deposit Insurance Corporation at the close of 1935 . . . 50

21. Earnings and expenses of mutual savings banks insured by the

Federal Deposit Insurance Corporation at the close of 1935 . . . 50

PART THREE

RESEARCH REPORTS

M e m b e r s h i p o f t h e T e m p o r a r y F e d e r a l D e p o s i t I n s u r a n c e F u n d s :

22. Classification of banks admitted to insurance from January 2,1934,

to the close of the temporary funds....................................................... 59

23. Classification of banks terminating insurance during or at the close

of the temporary funds............................................................................... 61

24. Operating banks insured at the beginning of the temporary Federal

deposit insurance plan and at the beginning of the permanent

plan..................................................................................................................... 61

25. Number of operating banks insured at the beginning of the temporary Federal deposit insurance plan and at the beginning of the

permanent plan, by States and possessions........................................ 62

26. Depositors’ claims against 24 insured banks which suspended during

the period of operation of the temporary Federal deposit insurance funds........................................................................................................ 63

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

N u m b e r o f B a n k s a n d B r a n c h e s :

101. Number of operating banks and branches, December 31, 1935, insured and noninsured banks grouped by class of bank in each

State and possession..................................................................................... 122

102. Number of operating banks, December 31, 1935, insured and noninsured banks grouped by class of bank, by amount of deposits,

and by States and possessions.................................................................. 124

103. Number of operating unit banks, December 31, 1935, insured and

noninsured banks grouped by class of bank, by amount of deposits, and by States and possessions................................................... 126

104. Number of banks operating branches, December 31, 1935, insured

and noninsured banks grouped by class of bank, by amount of

deposits, and by States and possessions............................................... 128

105. Number of operating branches of banks, December 31, 1935,

insured and noninsured branches grouped by class of bank in

each State and possession.......................................................................... 130

106. Number of operating commercial banks, December 31, 1935, insured and noninsured banks grouped by amount of deposits in

each State and possession.......................................................................... 132

107. Number of operating commercial banks, December 31, 1935, unit

banks and banks operating branches grouped by amount of

deposits in each State and possession................................................... 136

108. Number of operating mutual savings banks, December 31, 1935,

insured and noninsured banks grouped by amount of deposits in

each State........................................................................................................ 140

109. Number of operating mutual savings banks, December 31, 1935,

unit banks and banks operating branches grouped by amount of

deposits in each State.................................................................................. 142

110. Analysis of changes in number of banks and branches in the continental United States during 1935, insured and noninsured banks

grouped by class of bank............................................................................ 144

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viii LIST OF TABLES

111. Commercial banks beginning operations in the continental United

States during 1935, grouped by amount of total capital account,

by class of bank, by population of center, and by number of other

banks and branches in center................................................................... 147

112. Commercial banks ceasing operations in the continental United

States during 1935, grouped by amount of total capital account,

by class of bank, by population of center, and by number of other

banks and branches in center................................................................... 148

113. Operating banks which withdrew from insurance during 1935. . . . 149

D e p o s i t s i n B a n k s :

114. Deposits in operating banks, daily average October 1 to December

31,1935, insured and noninsured banks grouped by class of bank,

by amount of deposits, and by States and possessions.................. 150

115. Deposits in operating unit banks, daily average October 1 to December 31,1935, insured and noninsured banks grouped by class of

bank, by amount of deposits, and by States and possessions. . . . 152

116. Deposits in banks operating branches, daily average October 1 to

December 31, 1935, insured and noninsured banks grouped by

class of bank, by amount of deposits, and by States and possessions.............................................................................................................. 154

117. Deposits in operating commercial banks, daily average October 1

to December 31, 1935, insured and noninsured banks grouped

by amount of deposits in each State and possession....................... 156

118. Deposits in operating commercial banks, daily average October 1

to December 31, 1935, unit banks and banks operating branches

grouped by amount of deposits in each State and possession....... 160

119. Deposits in operating mutual savings banks, December 31, 1935,

insured and noninsured banks grouped by amount of deposits

in each State................................................................................................... 164

120. Deposits in operating mutual savings banks, December 31, 1935,

unit banks and banks operating branches grouped by amount of

deposits in each State............................................................................ . . 166

121. Analysis of changes in deposits of banks in the continental United

States during 1935, insured and noninsured banks grouped by

class of bank................................................................................................... 168

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

122. Summary of assets and liabilities of operating commercial banks in

the United States and possessions, December 31, 1934, June 29,

1935, and December 31, 1935.................................................................. 170

123. Summary of assets and liabilities of operating mutual savings banks

in the United States, December 31, 1934, June 29, 1935, and

December 31, 1935....................................................................................... 171

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

dates, June 30, 1934, to December 31, 1935...................................... 172

125. Assets and liabilities of operating insured commercial banks not

members of the Federal Reserve System, December 31, 1935,

banks grouped by amount of deposits.................................................. 176

126. Averages per bank of assets and liabilities, operating insured commercial banks not members of the Federal Reserve System,

December 31, 1935, banks grouped by amount of deposits........... 178

127. Percentage distribution of assets and liabilities, operating insured

commercial banks not members of the Federal Reserve System,

December 31, 1935, banks grouped by amount of deposits........... 180

E x a m i n e r s ’ A n a l y s e s o f I n s u r e d B a n k s :

128. Examiners’ analysis of capital, assets, and liabilities of operating

insured commercial banks not members of the Federal Reserve

System, latest examination in 1935, banks grouped by amount

of deposits and by States........................................................................... 182

129. Examiners’ analysis of assets of operating insured commercial

banks not members of the Federal Reserve System, latest examination in 1935, banks grouped by amount of deposits and by

States................................................................................................................. 184

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130. Examiners’ analysis of assets of operating insured commercial banks

not members of the Federal Reserve System, latest examination

in 1935, banks grouped by amount of deposits and by States . . 188

131. Summary of examiners' analysis of assets of operating insured commercial banks not members of the Federal Reserve System,

examinations October 1, 1933, to December 31, 1935, banks

grouped by amount of deposits and by States.................................. 192

132. Capital ratios of operating insured commercial banks not members

of the Federal Reserve System, examinations October 1, 1933,

to December 31, 1935, banks grouped by amount of deposits

and by States.................................................................................................. 194

C a p i t a l I n v e s t m e n t o f t h e R e c o n s t r u c t i o n F i n a n c e C o r p o r a t i o n :

133. Capital investment of the Reconstruction Finance Corporation in

operating insured commercial banks, December 31, 1935, by

class of bank in each State........................................................................ 196

134. Reconstruction Finance Corporation capital disbursements and

retirements during 1935, insured commercial banks not members

of the Federal Reserve System, by States........................................... 197

E a r n i n g s o f I n s u r e d C o m m e r c i a l B a n k s :

135. Earnings, expenses, and disposition of profits of operating insured

commercial banks, calendar years 1934 and 1935, by class of bank 198

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

State banks, calendar year 1935, banks operating throughout

entire year grouped by amount of deposits........................................ 200

137. Earnings, expenses, and disposition of profits, ratios, insured commercial State banks, calendar year 1935, banks operating

throughout the entire year grouped by amount of deposits.. . . 202

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

State banks reporting net earnings from current operations,

calendar year 1935, banks operating throughout entire year

grouped by amount of deposits............................................................... 204

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

State banks reporting net losses from current operations, calendar year 1935, banks operating throughout entire year grouped

by amount of deposits................................................................................. 206

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

of insured commercial State banks reporting net earnings from

current operations, calendar year 1935, banks operating throughout entire year grouped by amount of deposits................................ 208

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

of insured commercial State banks reporting net losses from

current operations, calendar year 1935, banks operating throughout entire year grouped by amount of deposits................................ 210

142. Earnings, expenses, and disposition of profits, ratios, insured commercial State banks reporting net earnings from current operations, calendar year 1935, banks operating throughout entire

year grouped by amount of deposits..................................................... 212

143. Earnings, expenses, and disposition of profits, ratios, insured commercial State banks reporting net losses from current operations,

calendar year 1935, banks operating throughout entire year

grouped by amount of deposits............................................................... 214

144. Earnings, expenses, and disposition of profits of operating insured

commercial banks not members of the Federal Reserve System,

calendar year 1935, banks operating thoughout entire year

grouped by amount of deposits............................................................... 216

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

of operating insured commercial banks not members of the

Federal Reserve System, calendar year 1935, banks operating

throughout entire year grouped by amount of deposits................ 218

146. Earnings, expenses, and disposition of profits, ratios, insured commercial banks not members of the Federal Reserve System,

calendar year 1935, banks operating throughout entire year

grouped by amount of deposits............................................................... 220

LIST OF TABLES ix

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Federal Reserve Bank of St. Louis
X LIST OF TABLES

147. Salaries and wages of officers and employees, insured commercial

State banks, calendar year 1935, grouped by class of bank, by

amount of deposits, and by States......................................................... 222

B a n k S u s p e n s i o n s a n d R e c e i v e r s h i p s :

148. Number and deposits of banks suspending operations during 1935,

grouped by class of bank, by amount of deposits, and by States. . 224

149. Insured banks placed in receivership, 1934-— 1935............................... 225

150. Assets of insured banks placed in receivership, 1934— 1935, as

shown by books of banks at date of suspension............................... 226

151. Liabilities of insured banks placed in receivership, 1934— 1935, as

shown by books of banks at date of suspension............................... 227

152. Deposits of insured banks placed in receivership, 1934— 1935, revised to December 31, 1935...................................................................... 228

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

1934— 1935....................................................................................................... 229

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

154. Assets, liabilities, and capital of the Federal Deposit Insurance Corporation, August 22, 1935.................*....................................................... 230

CHART

Percentage increase in deposits of insured commercial banks, December 31,

1934 to December 31, 1935............................................................................................ 39

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Federal Reserve Bank of St. Louis
INTRODUCTION

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INTRODUCTION

The Federal Deposit Insurance Corporation was created by the 

Banking Act of 1933. Its Board of Directors was organized on September 11 of that year, and the insurance of bank deposits under the 

temporary plan became effective January 1, 1934. A brief report 

dealing with the organization of the Corporation was submitted in 

March 1934, and the first regular annual report, covering the activities 

of the Corporation to the end of 1934, was submitted in August 1935. 

The present report describes the termination of the temporary plan and 

the inauguration of the permanent plan of Federal deposit insurance, 

the activities of the Corporation during 1935, and banking developments 

affecting deposit insurance during that year.

Part One is devoted to a discussion of the operations of the Corporation, 

including the transition from the temporary to the permanent plan of 

deposit insurance, the Corporation’s revenue and expenses, suspensions of 

insured banks and deposits paid by the Corporation, admissions to and 

terminations of insurance, bank examinations, and regulations issued by 

the Corporation. Part Two covers developments in banking during 1935, 

primarily among insured banks not members of the Federal Reserve 

System. Part Three summarizes the changes in the number of insured 

banks during the period of operation of the temporary plan of insurance. 

Part Four gives in full the text of the amended deposit insurance law, the 

text of regulations issued by the Corporation, and the forms used and the 

instructions for the reporting of deposits by insured banks. Part Five 

consists of statistical tables relating to banking and deposit insurance.

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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS OF THE CORPORATION DURING

THE YEAR ENDING DECEMBER 31, 1935

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INAUGURATION OF PERMANENT PLAN OF INSURANCE OF

BANK DEPOSITS

On August 23, 1935, the Banking Act of 1935 became effective, 

terminating the temporary Federal deposit insurance plan and inaugurating the permanent plan. The Act revised the entire deposit 

insurance law and made substantial changes in the character of the 

permanent plan of deposit insurance originally enacted June 16, 1933.

Duration of temporary plan. The temporary plan for Federal 

insurance of deposits, originally intended to be effective only during 

the six months from January 1 to July 1, 1934, was in operation nearly 

20 months. Its life was twice extended by Congress: first, until July 1, 

1935, and then for an additional two months. The second extension 

was approved June 28, 1935, while the Banking Act of 1935 was under 

consideration, and was designed merely to continue the temporary plan 

until that Act could be approved.1

Admissions to insurance under the permanent plan. Under 

the original law all banks members of the Federal Reserve System were 

required to participate in the permanent insurance plan, and banks not 

members of the Federal Reserve System which were insured under the 

temporary plan were permitted to participate until July 1, 1936. In 

the revised law provision was made for the automatic admission to 

insurance under the permanent plan of all banks, with minor exceptions, 

which had been insured under the temporary plan. Provision was made 

that State banks not members of the Federal Reserve System might 

withdraw within 30 days after the effective date of the Act. Thirtyfour banks withdrew under this provision,2 and one bank not a member 

of the Federal Reserve System which had been considered to be insured 

under the temporary plan did not become insured under the permanent 

plan because of failure to make the required statement of deposits and 

to pay assessments. The number of banks which had been insured 

under the temporary plan and which were automatically admitted to 

insurance under the permanent plan was 14,219. Of these, 14,163 

were commercial banks insured in the Temporary Federal Deposit 

Insurance Fund and 56 were mutual savings banks insured in the Fund 

for Mutuals.

Insurance coverage. Under the original law it was contemplated 

that the deposits in banks participating in the permanent insurance 

plan would be protected up to the following percentages of the net 

amount due each depositor in a closed bank:

100 percent of the net amount not exceeding $10,000;

75 percent of the net amount exceeding $10,000 but not exceeding $50,000;

50 percent of the net amount exceeding $50,000.

The revised permanent plan, like the temporary plan after July 1, 1934, 

limits protection to a maximum of $5,000 for each depositor.

1For text of resolution see page 67.

2One of these banks had previously repaid all of its deposit liabilities through voluntary liquidation.

7

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8 FEDERAL DEPOSIT INSURANCE CORPORATION

Assessment rate. The revised permanent plan of insurance differs 

both from the temporary plan and from the original permanent plan in 

the basis and amount of assessment. Banks insured under the revised 

permanent plan are assessed each year one-twelfth of 1 percent of their 

total deposit liabilities. Special provision was made for an initial payment covering the assessment obligation from the inauguration of the 

permanent plan to the end of 1935. Under the original permanent plan 

participating banks were to subscribe for stock in the Corporation equal 

in amount to one-half of 1 percent of their total deposits, and were 

subject to assessments of one-fourth of 1 percent of their deposits whenever the net debit balance of the deposit insurance account of the 

Corporation should equal or exceed one-fourth of 1 percent of deposits 

of all insured banks.

Assessment credits. The revised law provided that any balance 

to which an insured bank was entitled upon termination of the temporary 

Federal deposit insurance funds should be credited toward the assessments to be levied under the permanent plan of insurance. Such 

balances consisted of the unused portion of assessments collected under 

the temporary plan. The income of the temporary funds was sufficient to 

pay all operating expenses and deposit insurance losses and expenses, and 

insured banks received a credit for the full amount of the assessments 

which they had paid.

Supervision of insured banks. The revised permanent plan also 

requires insured banks not members of the Federal Reserve System to 

obtain the approval of the Corporation before opening new branches 

or reducing their capital, and requires all insured banks to obtain such 

approval before merging or consolidating with noninsured institutions. 

The Corporation may require any insured bank to provide protection and 

indemnity against burglary, defalcation, and other similar insurable losses. 

If an insured bank is found by the Corporation to have continued unsafe 

or unsound practices, such practices are to be reported to the appropriate 

supervisory authorities, and if they are not corrected the insured status of 

the bank may be terminated.

ORGANIZATION AND STAFF

Directors. On April 29, 1935, Mr. Phillips Lee Goldsborough took 

office as a director of the Corporation, succeeding Mr. E. G. Bennett, 

whose resignation became effective on that date. Mr. Leo T. Crowley 

continued to serve as a director and as Chairman of the Board of Directors, 

and Mr. J. F. T. O’Connor, Comptroller of the Currency, likewise continued as a member of the Board of Directors.

Changes in divisions and offices. Few changes were made in the 

internal organization of the Corporation during 1935. On January 15,

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Federal Reserve Bank of St. Louis
ORGANIZATION AND STAFF 9

1935, the number of district offices of the Corporation was reduced from 

15 to 12. This change permitted a substantial reduction in overhead 

expenses.

Personnel. Personnel at the close of 1935 consisted of 738 officers 

and employees, of whom 237 were located in the main office at Washington and 501 in the field and at the regional offices. A net reduction 

of 110 employees occurred during the year. The employees located in 

the field and at the regional offices were all connected with the Division 

of Examination of the Corporation. The personnel of the various 

divisions and offices of the Corporation at the end of 1935 is given in 

Table 1.

Table 1. OFFICERS AND EMPLOYEES 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, 1935

Total

Officers;

administrative,

supervisory,

and

technical

employees

Clerical,

stenographic,

and

custodial

employees

738 441 297

W ash in g to n o ffic e ............................................................... 237 75 162

Directors and aides............................................................ 12 7 5

Division of Examination................................................. 33 17 16

New and Closed Bank Division1 ................................ 25 14 11

Division of Research and Statistics........................... 35 10 25

Legal D ivision...................................................................... 17 8 9

Division of Public Relations......................................... 7 5 2

Office of the Secretary...................................................... 11 2 9

Auditor (administrative and service division) . . . 97 12 85

D istrict offices........................................................................ 501 366 135

Division of Examination................................................. 501 366 135

iExcludes 11 persons employed by deposit insurance national banks.

f in a n c ia l a s p e c t s o f t h e c o r p o r a t i o n

Capital stock. There were no changes in the ownership of the 

outstanding capital stock of the Corporation during 1935. In accordance 

with provisions of the law, the Secretary of the Treasury on behalf of the 

United States had subscribed and paid $150,000,000 in November 1933, 

and the Federal Reserve banks had subscribed $139,299,556.99 which was 

paid in equal installments in January and April 1934.

The original deposit insurance law required banks becoming insured 

under the permanent plan to subscribe to capital stock of the Corporation. 

This requirement was eliminated from the law by the Banking Act of 

1935 and all of the capital stock was made nonvoting, nondividend 

paying, and of no par value.

Assessments for the temporary Federal deposit insurance funds* 

Under the provisions of the original deposit insurance law and the amendments enacted in June 1934, banks insured by the temporary Federal

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10 FEDERAL DEPOSIT INSURANCE CORPORATION

deposit insurance funds were assessed an amount equal to one-half of 1 

percent of the deposits eligible for insurance. Assessments were levied 

on the basis of certified statements submitted as of December 15, 1933, 

or, for banks admitted subsequent to January 31, 1934, as of the fifteenth 

of the month preceding the date of approval for admission. New banks 

were assessed an amount equal to 5 percent of paid-in capital and surplus, 

one-half of which was called for. These assessments were adjusted to a 

basis of insured deposits shown by statements filed as of October 1,

1934.

The Act of June 16, 1934, extending the term of the temporary funds, 

increased the insurance coverage from $2,500 to $5,000 for each depositor.1 

An adjustment in the amount of assessment was made on the basis of 

certified statements submitted as of October 1, 1934. Banks admitted 

to insurance subsequent to October 1, 1934, paid assessments on the basis 

of statements submitted at the time of admission.

One-half of the assessments was paid; the other half was made payable 

on call by the Board of Directors of the Corporation. It was not necessary to call for the second half of the assessments.

Cost of operation of temporary Federal deposit insurance funds. 

The charges against the temporary funds include payments to depositors 

of suspended banks, less the estimated recoveries by the Corporation on 

its subrogation claims, plus the expenses associated with the making of 

these payments. The total charges upon the temporary Federal deposit 

insurance funds on account of suspensions of banks during the period of 

operation of the temporary plan amounted to $1,670,285.42.

Refunds to banks withdrawing from the temporary funds. 

Banks which withdrew from insurance during the period of the temporary 

insurance plan or at its close, or went into voluntary liquidation during 

that period, were refunded the assessments which they had paid less their 

share of the costs of operation of the temporary fund. Such refunds 

amounted to $9,772,648.87.

Assessments under the permanent plan. The revised permanent 

insurance plan provided that each insured bank should file a certified 

statement on or before November 15, 1935, showing its average daily 

deposit liabilities, adjusted for uncollected items, for the month of 

October, and that the initial assessment covering the period ending 

December 31, 1935, should be one-third the annual assessment rate of 

one-twelfth of 1 percent upon such deposits.

The aggregate of the initial assessment upon all insured banks amounted 

to $11,475,840.19. This assessment was deducted from the credits to 

the individual insured banks arising from the assessments which had 

been paid into the temporary Federal deposit insurance funds. Initial 

assessments exceeded credits established at the close of the temporary

JThe increase in coverage was made optional for mutual savings banks.

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FINANCIAL ASPECTS 11

funds in the case of only 25 banks. It is estimated that about two-thirds 

of the insured banks have sufficient amounts to their credit to cover the 

two semi-annual assessments due in 1936.

Each bank is required to file a statement on or before January 15 and 

on or before July 15 of each year showing the average daily amount of 

its deposits, adjusted for uncollected items, during the six months ending, 

respectively, on the preceding December 31 and June 30.1

Operating expenses of the Corporation. The Board of Directors 

of the Corporation, under the deposit insurance law, is made fully responsible for all expenses of operating the Corporation, including determination 

of the number of employees and of their compensation, and the incurring 

of overhead expenses. The President of the United States by Executive 

Order No. 7150, dated August 19, 1935, requires the submission to the 

Bureau of the Budget of estimates of the Corporation’s expenditures.

The operating expenses of the Corporation during 1935, not including 

estimated losses resulting from and expenses incidental to payments to 

depositors in closed banks were approximately $2.5 million. Both in

1934 and in 1935 these operating expenses were less than the current income of the Corporation from the investment of its funds.

Financial statements. Condensed balance sheets of the Corporation 

as of December 31, 1934, and December 31, 1935, are given in Table 2. 

An analysis of surplus for the year 1935 is shown in Table 3. A statement 

showing the condition of the Corporation at the close of the temporary 

funds, August 22, 1935, and including an analysis of surplus to that 

date, will be found on page 230.

PAYMENTS TO DEPOSITORS IN SUSPENDED INSURED BANKS

Twenty-six insured banks suspended during 1935, of which 4 were 

national banks and 22 were State banks not members of the Federal 

Reserve System. Sixteen banks, one of which was reopened with no 

payments to depositors being made by the Corporation, closed prior to 

the termination of the temporary Federal deposit insurance funds. Ten 

banks insured under the permanent plan suspended. One of these 

suspended on the last day of the year, and was not placed in liquidation 

until 1936. Twenty-four banks were placed in receivership, and the 

Corporation began to make payments to their depositors during 1935.

Deposits paid by the Federal Deposit Insurance Corporation.

The insured deposits have been paid as rapidly as the depositors have 

presented and proved their claims. By December 31, 1935, the Corporation had paid $5,447,000, or more than 89 percent, of the insured 

deposits in the 24 suspended banks which were placed in receivership

lrThe certified statements required to be submitted on or before January 15, 1936, reported average

deposits for only the three months ending December 31, 1935.

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12 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 2. COMPARATIVE BALANCE SHEET OF

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

D e c e m b e r 31, 1935, a n d D e c e m b e r 31, 1934

December December

31, 1935 31, 1934

ASSE TS

C ASH O N H A N D A N D O N D E P O S IT .................................. $ 33,477,860.73 $ 15,984,425.01

U N IT E D ST A T E S G O V E R N M E N T SE C U R IT IE S—

(cost less reserve for amortization of premiums) A N D

A C C R U E D IN T E R E S T R E C E IV A B L E ............................ $298,258,349.76 $316,679,093.80

ASSETS A C Q U IR E D T H R O U G H B A N K SU SPEN SIO NS

A N D M E R G E R S :

Subrogated claims of depositors against closed insured

banks................................................................................................. $ 5,840,595.75 $ 861,379.35

N et balances of depositors in closed insured banks

pending settlement or not claimed, to be subrogated

Loans to merging banks to avert deposit insurance

losses.................................................................................................. 2,820,014.03

9,345,148.62

............................................................. 3,927,047.27Less: Reserve for losses

$ $ 861,379.35

387,087.11

$ 5,418,101.35 $ 474,292.24

F U R N IT U R E , F IX T U R E S , A N D E Q U IP M E N T ............

D E F E R R E D C H A R G E S A N D M ISC E L L A N E O U S

$ 1.00 $ 110,326.89

A S SE T S..................................................................................................... $ 55,483.13 $ 35,214.55

TO T A L A S S E T S .................................................................. $337,209,795.97 $333,283,352.49

L IA B IL IT IE S

C U R R E N T L IA B IL IT IE S :

Accounts and assessment rebates payable.............................. $ 92,534.39 $ 211,042.36

N et balances of depositors in closed insured banks pending

settlement or not claimed— contra......................................... 684,538.84 ...............................

U N U S E D C R E D IT S FO R A SSE SSM E N T S P A ID TO

T E M P O R A R Y F E D E R A L D E P O S IT IN S U R A N C E

F U N D S (amount shown for December 31, 1934, represents assessments paid to that date).......................................... 30,257,108.53 41,353,061.05

R E S E R V E FO R U N D E T E R M IN E D E X P E N S E S A N D

L O SS E S.................................................................................................... 118,278.69 66,521.43

T O T A L L I A B IL IT IE S .................................................... $ 31,152,460.45 $ 41,630,624.84

C A P IT A L

C A P IT A L S T O C K :

United States.......................................................................................... $150,000,000.00 $150,000,000.00

Federal Reserve banks....................................................................... 139,299,556.99 139,299,556.99

$289,299,556.99 $289,299,556.99

SU R PLU S (See Table 3 ) ..................................................................... 16,757,778.53 2,353,170.66

TO TAL C A P IT A L .............................................................. $306,057,335.52 $291,652,727.65

T O T A L L IA B IL IT IE S AN D C A P IT A L ............... $337,209,795.97 $333,283,352.49

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FINANCIAL ASPECTS 13

T a b le 3. ANALYSIS OF SURPLUS ACCOUNT AND DISTRIBUTION OF

A d m in is t r a t iv e E x p e n s e s , 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 ,

C a l e n d a r Y e a r 1935

I. A N A L Y S IS OF SU RPLUS

B A L A N C E D E C E M B E R 31, 19 3 4 ......................................................................................... $ 2,353,170.66

A D D — N E T A D JU S T M E N T S A P P L IC A B L E TO P E R IO D S PR IO R TO

J A N U A R Y 1, 1935....................................................................................................................... 23,313.49

B A L A N C E AS A D JU ST E D D E C E M B E R 31, 1934.................................................. $ 2,376,484.15

SURPLUS FO R T H E Y E A R E N D IN G D E C E M B E R 31, 1935:

Additions:

Deposit insurance assessments .... $ 11,475,840.19

Interest earned and profit on sales

of securities (/ess provision for

amortization o f prem ium s) ... . ___ 9,244,935.99 $ 20,720,776.18

Deductions:

Deposit insurance losses and expenses.................................................... $ 3,638,038.15

Administrative expenses................... 2,516,881.49

Provision for undetermined expenses and losses.............................. 33,675.47

Reduction in book value of furniture, fixtures, and equipment ______ 150,886.69 6,339,481.80 14,381,294.38

B A LA N C E D EC EM B ER 31, 1 9 3 5 ........................................................................................... $ 16,757,778.53

II. D IS T R IB U T IO N OF A D M IN IS T R A T IV E E X P E N S E S

Salaries....................................................................................................................................................... $ 1,758,309.03

Professional services............................................................................................................................ 15,993.54

Services of other governmental agencies................................................................................... 609.75

Transportation....................................................................................................................................... 117,039.29

Subsistence............................................................................................................................................... 379,552.31

Office rental............................................................................................................................................. 110,444.29

Printing, stationery, and supplies................................................................................................ 67,378.87

Postage, telephone, and telegraph............................................................................................... 46,830.87

Fidelity bond premiums.................................................................................................................... 3,478.09

Subscriptions........................................................................................................................................... 2,838.01

Equipment rental................................................................................................................................. 811.80

Repairs and alterations..................................................................................................................... 8,570.97

Transportation of things................................................................................................................... 2,115.18

Advertising and notices..................................................................................................................... 1,571.69

Miscellaneous......................................................................................................................................... 2,387.15

$ 2,517,930.84

Less net income from sign sales............................................................................................... 1,049.35

A D M IN IS T R A T IV E E X PE N SES F O R T H E Y E A R EN D IN G

D EC EM B ER 31, 1935................................................................................................................. $ 2,516,881.49

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14 FEDERAL DEPOSIT INSURANCE CORPORATION

during the year. Insured deposits of $666,000 remained unpaid at the 

end of the year. More than two-thirds of the unpaid insured deposits 

were deposits in the last nine banks to close; the remainder was made up 

of unproved claims, of inactive accounts, and of the accounts of depositors 

who failed to file claims although repeated notices had been sent to them. 

The figures are summarized in Table 4.

Table 4. D E P O S IT S IN TH E 24 IN S U R E D B A N K S P L A C E D IN R E C E IV E R S H IP

D u r i n g 1935

Amount of deposits

(in thousands of dollars)

Total

Paid by

December

31, 19351

Unpaid on

December

31, 1935

9,013 5,926 3,087

Insured (excluding secured and preferred portions) 6,113 5,447 666

Secured and preferred............................................................ 452 98 354

Subject to offset.......................................................................

Uninsured, unsecured, not preferred, and not sub561 358 203

ject to offset.......................................................................... 1,887 23 1,864

1 Includes paym ents made both by the Federal D eposit Insurance Corporation and by receivers.

Depositors in the 24 insured banks placed in receivership during 1935 

numbered 31,811. Of these, 31,598 were fully protected by insurance, 

preferred claims, pledge of security, or offsetting claims; 213 depositors 

had only a general claim on the assets of the bank in receivership for 

deposits in excess of $5,000. By December 31, 1935, the claims of 

21,195 depositors had been paid by the Corporation or settled by the 

allowance of their preferment or by the sale of pledged security. The 

deposit claims of 1,951 depositors had been fully settled by the offsetting 

of counter claims which the bank held against these depositors. The 

claims of 8,665 depositors had not been presented or proved by December 31, 1935, and, as a consequence, the Corporation was unable to 

make payment on them.

During 1935 payments amounting to $60,380 were made by the 

Corporation to previously unpaid depositors of the nine insured banks 

which closed during 1934. At the end of 1935, only $18,657 still remained due to about 3,400 depositors on their insured deposits in these 

banks. The claims of most of these depositors had not been presented.

Procedure for paying depositors. Upon notification of the suspension of an insured bank, preparations are begun immediately for 

payment of the insured deposits. All deposit accounts in the various 

classifications found in the closed bank’s records are analyzed in such 

a manner as to bring all items from the respective classes of accounts 

into one total for each depositor in the same right and in the same 

capacity. All debts due the closed bank by each depositor in the same 

right and in the same capacity are also noted. In this way each net 

insured deposit payable by the Corporation is established in conformity

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PAYMENTS TO DEPOSITORS 15

with the requirements of law. This preparation is usually accomplished 

within the period ordinarily designated by statute in which directors or 

stockholders may institute proceedings to contest the action of the 

authority which closed the bank.

Payment of the insured deposits is started promptly after the respective receiverships become final. In the banks which suspended and 

were placed in receivership during 1935 this interval varied from 1 to 28 

days, and averaged 10 days.

The Banking Act of 1933 required that the Corporation organize a 

new national bank to succeed each suspended insured bank. When 

organized, such bank served as the agency of the Corporation for paying 

the insured deposits of the closed bank. The Corporation made available to the new bank an amount equal to the estimated insured deposits 

of the closed bank plus an amount necessary to cover its operating 

expenses. As depositors proved their claims and assigned them to the 

Corporation, orders were drawn by the claim agent of this Corporation 

on the new bank for the net amount of the depositor’s insured deposits. 

These orders were non-negotiable and upon presentation to the new 

bank were paid in cash or by draft on a Federal Reserve bank.

The Banking Act of 1935, which became effective August 23, 1935, 

permits payments to be made directly to the depositors by claim agents 

appointed by the Corporation. However, the Corporation may, if it is 

considered advisable, organize a new national bank in the same community to assume the insured deposits of a closed insured bank. The 

depositors have been paid directly by the Corporation in the case of 

eight insured banks which suspended between August 23 and December 

31, 1935. The power to make payments through a new bank has been 

exercised in only one case (Bradford, Pennsylvania) since the effective 

date of the new act.

Deposit insurance national banks. The new national bank 

organized in connection with the payment of the insured deposits in a 

closed bank is chartered without capital under the title, “Deposit

Insurance National Bank o f................................ (name of the city in

which it is located,)” . The business of this bank is conducted under the 

direction of an official designated by the Federal Deposit Insurance 

Corporation.

Although deposit insurance national banks may be authorized by 

the Corporation to accept new deposits, only one institution thus far 

organized has been given this power. The deposit insurance national 

banks organized prior to August 23, 1935, have served merely as paying 

agencies of the Corporation. Funds made available to such banks by 

the Corporation and deposits accepted by these banks must be held 

in cash, invested in direct obligations of the United States Government, 

or carried on deposit with the Corporation or with a Federal Reserve 

bank.

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16 FEDERAL DEPOSIT INSURANCE CORPORATION

The deposit insurance law provides for the capitalization of deposit 

insurance national banks within a period of two years, if in the discretion 

of the Corporation it is desirable and in the public interest to establish 

another bank in the community in which the insured bank closed. 

This capitalization is accomplished through the sale of capital stock as 

required for the organization of an ordinary national bank in the 

locality. The deposit insurance national bank is then chartered as an 

ordinary national banking association. If such capitalization is not 

accomplished within two years from the date of organization, the affairs 

of the deposit insurance national bank must be closed and its charter 

surrendered. It is expected that all of the deposit insurance national 

banks organized prior to August 23, 1935, will be liquidated at the 

earliest possible date. At the close of the year arrangements were 

being made for the capitalization of the Deposit Insurance National 

Bank of Bradford, Pennsylvania.1

LIQUIDATION OF INSURED BANKS IN RECEIVERSHIP

Receiverships of insured banks. Four of the insured banks 

suspended during 1935 were national banks and, as required by law, the 

Corporation was appointed receiver for these institutions. In addition, 

the Corporation was appointed by State authorities as liquidator of two 

State banks placed in receivership during the year. The Corporation 

has also continued to act as receiver of the one national bank which 

suspended during 1934. The receiverships of 18 insured State banks 

which suspended during 1935 and of the 8 which closed during 1934 

are being administered by representatives of the banking authorities 

of the States in which the closed banks were located.

Recoveries from banks in receivership. Dividends received by 

the Corporation to December 31, 1935, from the liquidation of the 33 

suspended insured banks placed in receivership during 1934 and 1935 

amounted to $528,532. Based upon estimates of recovery adjusted to 

December 31, 1935, it is expected that the Corporation will ultimately 

recover about 65 percent on the claims to which it was subrogated upon 

payment of insured deposits in these banks. These estimates indicate 

a loss to the Corporation of approximately $2.5 million on account of 

payments to depositors in insured banks which were placed in receivership during 1934 and 1935.

By December 31, 1935, the nine insured banks which suspended 

during 1934 had been in liquidation from 12 to 18 months. The

x0n June 20, 1936, the capitalization having been completed, the bank became The Citizens National

Bank of Bradford, Pennsylvania.

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LOANS ON ASSETS OF INSURED BANKS 17

dividends received up to that date by the Corporation on its subrogated 

claims against these banks were:

It is anticipated that further payments will be received in all cases 

except those in which 100 percent has already been received.

Powers of the Corporation. Under the Banking Act of 1935 the 

Federal Deposit Insurance Corporation is authorized to make loans 

secured by assets of insured banks provided: first, such a loan will 

reduce the risk or avert a threatened loss to the Corporation; and 

second, the loan will facilitate a merger or consolidation of the borrowing 

bank with another insured bank or the sale of its assets and the assumption of its liabilities by another insured bank. Under the same conditions the Corporation may purchase assets from insured banks, or 

guarantee one insured bank against loss by reason of its assuming the 

liabilities and taking over the assets of another insured bank.1

Advances by the Corporation under this provision will ordinarily 

be in the form of loans, but the power to purchase assets is also of 

importance, particularly in cases where, by limitations imposed by State 

law or by charter, the bank is prevented from borrowing money or 

pledging assets beyond a specific amount, or where the existence of 

mortgage moratoria laws involving restrictions on foreclosures makes 

it impracticable to loan money on such security.

Purpose of powers. The loan, purchase, and guarantee powers of 

the Corporation are used to effect absorptions, mergers, or consolidations 

where such operations will increase the strength of the banking structure 

and reduce the loss to the Corporation. Where a bank has its capital 

impaired or completely depleted and the continued contribution of 

capital only postpones failure, the Corporation will eventually have to 

take a loss. It is preferable to take such losses currently and not 

permit them to accumulate and to fall heavily upon the Corporation’s 

reserves during a period of financial stress. Use of the loan, purchase, 

or guarantee powers of the Corporation facilitates the elimination of 

banks which remain in an unsatisfactory condition and which cannot 

be rehabilitated otherwise with reasonable promptness.

Use of powers during 1935. During the few months elapsing 

between the effective date of the Banking Act of 1935 and the close of 

the year, one loan was made to an insured bank under these provisions.

xThis power was granted originally only until July 1, 1936, but was further extended until July 1, 1938, 

by Public Resolution of Congress No. 83, approved April 21, 1936.

30-35 percent.

15 percent

100 percent

75 percent

3 banks;

1 bank;

4 banks;

1 bank.

LOANS ON ASSETS OF INSURED BANKS

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18 FEDERAL DEPOSIT INSURANCE CORPORATION

This loan amounted to $2,862,650. No bank assets were purchased 

during the year, nor was any guarantee executed.

ADMISSIONS TO AND TERMINATIONS OF INSURANCE

Admissions to the temporary insurance funds. From the beginning of the year to the close of the temporary insurance funds, 199 

banks not members of the Federal Reserve System applied for admission 

to insurance.1 These banks were examined, and all except 10 were 

admitted to insurance.

Six banks whose applications had been received in 1934 were also 

admitted in 1935, and one bank which suspended was reopened and reinstated as an insured bank. The total number of admissions of banks 

not members of the Federal Reserve System, from the beginning of the 

year to the close of the temporary funds, was 196. One of the banks 

admitted was a mutual savings bank.

During the same period 28 national banks opened for business on the 

authorization of the Comptroller of the Currency, and 3 newly organized 

State banks were admitted to membership in the Federal Reserve System. 

These banks automatically became insured.

Admissions to insurance under the permanent plan. The 

Banking Act of 1935 requires that the Corporation, in passing on the 

application of a noninsured bank for admission to insurance, give consideration to the financial history and condition of the bank, the adequacy 

of its capital structure, its future earning prospects, the general character 

of its management, and the consistency of its corporate powers with the 

purposes of the deposit insurance law.

During the period from August 23 to the end of the year applications 

were received from 124 State banks for admission to insurance. Of 

these applications, 44 were approved, 24 were rejected, and 56 were 

pending at the close of the year.2 Table 5 shows how many of the banks 

admitted to insurance, and of those rejected, were operating at the beginning of the year, and how many were new banks opened or contemplated,

During the same period six national banks opened for business on the 

authorization of the Comptroller of the Currency, one State bank member 

of the Federal Reserve System which had been closed was reopene/i, and 

one newly organized State bank and one State bank not previously insured 

were admitted to membership in the Federal Reserve System. These 

banks automatically became insured.

Termination of insurance in the temporary funds. The Banking

xThis figure does not include one application from a bank which, when licensed to resume business, 

was adm itted to the Federal Reserve System. It also excludes 10 applications which, because of lack 

of inform ation or obviously inadequate plans, were not considered by the Board of Directors of the 

Corporation.

2One of the banks admitted to permanent insurance was insured under the tem porary plan, withdrew 

at its close, but applied for readmission before its deposits had ceased to be insured. Another did not 

open for business until after the close of the year 1935.

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ADMISSIONS TO AND TERMINATIONS OF INSURANCE 19

Table 5,. BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

A p p r o v e d a n d R e j e c t e d f o r I n s u r a n c e

A u g u s t 23— D e c e m b e r 31, 1935

Total Approved Rejected

A ll b a n k s ......................................................................................................... 68 44 24

In operation January 1, 19351.......................................................... 27 14 13

Successors to insured banks operating January 1, 1935. . 3 3

Opened during 1935, operating at time of submitting application for insurance2 ......................................................................... 19 13 6

N ot operating at time of submitting application for insurance3 19 14 5

in clu d es one bank operating as a private com pany on January 1, 1935, which became a State 

bank in 1935.

2Includes two banks form ed in connection with consolidations of insured banks.

3Includes cases in which the organization of new banks, or reorganization of restricted or closed 

banks, was contemplated. Also includes one bank licensed in 1935 but not opened for business until 

January 2, 1936.

Act of 1935 provided for the automatic admission to insurance under the 

permanent plan of all banks insured at the close of the temporary funds, 

except banks which signified within 30 days their intention to withdraw 

from insurance and banks which had failed to file the required certified 

statement of deposits and to pay assessments.

Thirty-four banks insured under the temporary plan withdrew within 

30 days after the close of the temporary funds.1 One other bank had 

its insurance status terminated by reason of failure to file the certified 

statement required in connection with the temporary funds.2

From January 1, 1935, to the close of the temporary funds 16 insured 

banks suspended, and the insured status of 172 banks was terminated 

on account of voluntary liquidations, successions, mergers, consolidations, 

or absorptions by other banks. The insurance of three other banks was 

automatically terminated when they withdrew from the Federal Reserve 

System.

Termination of insurance under the permanent plan. The

Banking Act of 1935 provides for the voluntary withdrawal of banks 

from insurance under the permanent insurance plan, and also for the 

termination by the Corporation of the insured status of any bank if the 

bank is found by the Corporation to have continued unsafe or unsound 

practices or to have knowingly or negligently permitted its officers or 

agents to violate any law or regulation to which it is subject. Termination of insurance by the Corporation because of unsound practices or 

violation of law is to be made only after giving notice to the supervisory 

authority having jurisdiction over the insured bank, and after a hearing 

at which the insured bank may give evidence regarding its operations.

During the period from August 23 to December 31, no withdrawals

1This figure includes one bank which applied for readmission to insurance within 50 days after the close 

of the temporary funds, and the deposits of which were therefore continuously insured. The figure 

also includes one bank which had already liquidated all of its deposits, and is classified in the tables on 

pages 144-46 as an “ other liquidation.”

2This bank had attempted to withdraw from insurance on July 1, 1934, but was unable to do so because

its statement of intention to withdraw was not filed within the time permitted by law

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20 FEDERAL DEPOSIT INSURANCE CORPORATION

from insurance occurred except those at the close of the temporary funds, 

and no terminations were made by the Corporation. During the same 

period 10 insured banks suspended, and the insurance of 80 banks was 

terminated on account of voluntary liquidations, successions, mergers, 

consolidations, or absorptions by other banks.

Classification of banks admitted to insurance and of banks

terminating insurance. The total number of banks admitted to insurance during 1935, including both those approved for insurance by the 

Federal Deposit Insurance Corporation and those automatically admitted.

was 279. These banks were distributed as follows:

New banks organized during the year......................................................... 63

Successors to, or consolidations of, banks operating at the beginning

of the year.......................................................................................................... 11

Banks in operation but not insured at the beginning of the year

(including one mutual savings bank)....................................................... 72

Reorganizations of, or successors to, closed or restricted banks (including one bank in Hawaii)........................................................................ 94

Successions to other insured banks (including new banks formed by

the consolidation of insured banks)......................................................... 35

State banks withdrawing from the Federal Reserve System

readmitted to insurance as banks not members of the Federal

Reserve System................................................................................................ 3

Reinstatement of an insured bank which had suspended and reopened 1

The total number of insured banks discontinuing operations or otherwise 

terminating insurance was 315. These banks were distributed as follows:

Withdrawals from insurance............................................................... .......... 34

Suspensions (including one bank later reopened and reinstated to

insurance)........................................................................................................... 26

Net reduction on account of consolidations with other insured banks 155

Successions by noninsured banks, and consolidations with or to form

noninsured banks...................................................................................... 11

Successions by other insured banks.............................................................. 35

Other banks liquidating or discontinuing operations.............................. 51

Withdrawals from Federal Reserve membership (readmitted to

insurance as banks not members of the Federal Reserve System) 3

Table 6 gives further details regarding the classification of banks 

admitted to insurance, and of banks terminating insurance, during 1935.

Consolidations of insured with noninsured banks. Under the 

terms of the Banking Act of 1935, mergers or consolidations of insured 

banks with noninsured banks, and the assumption of deposit liabilities 

of noninsured banks by insured banks or the transfer of deposit liabilities 

from an insured bank to a noninsured bank, must be approved by the 

Federal Deposit Insurance Corporation.

During the period from the effective date of the Banking Act of 1935 

to the end of the year, three mergers of insured and noninsured banks 

occurred.

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Table 6. CLASSIFICATION OF BANKS ADMITTED TO INSURANCE AND BANKS TERMINATING INSURANCE DURING 1935

BY CLASS OF BANK

A d m issio n s— t o t a l.................................................................................................................................................................................

N o t directly offset by te r m in a tio n s ....................................................................................................................................

Banks operating but not insured January 1, 1935 .........................................................................................................

Successors to, or consolidations of banks operating January 1, 19351 .................................................................

Reorganizations of, or successors to, closed or restricted banks:

Insured at time of opening or within one month thereafter.................................................................................

Operating more than one month prior to admission to insurance......................................................................

Reorganization of closed bank in Hawaii not included above...........................................................................

Banks opened during 1935 without ascertainable precessors:

Insured at time of opening or within one month thereafter.................................................................................

Operating more than one month prior to admission to insurance.....................................................................

D irectly offset by te r m in a tio n s ..............................................................................................................................................

Successions to other insured banks2 ......................................................................................................................................

Banks withdrawing from Federal Reserve System readmitted to insurance as banks not members of

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

Reinstatement of insured bank which suspended and reopened.............................................................................

T e rm in a tio n s— t o t a l............................................................................................................................................................................

N ot directly offset by a d m issio n s.........................................................................................................................................

Withdrawals from insurance......................................................................................................................................................

Suspensions (excluding one bank reopened)......................................................................................................................

Consolidations with other insured banks— net reduction...........................................................................................

Successions by noninsured banks, or consolidations with or to form noninsured banks.............................

Other banks liquidating or discontinuing operations....................................................................................................

D irectly offset by a d m is s io n s ..................................................................................................................................................

Succeeded by other insured banks2 .......................................................................................................................................

Banks withdrawing from Federal Reserve System readmitted to insurance as banks not members of

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

Suspended bank which was reopened and reinstated....................................................................................................

All

banks

240

7211

90

3

1

45

18

39

35

3

1

315

276

34

25

155

11

51

39

35

3

1

Banks members

F. R. System

Banks not members

F. R. System

National State Com ­

mercial

Mutual

savings

34 6 238 1

19 3

1

217

71

1

1 10

6 2 81

3

1

12 33

18

15 3 21

15 3 17

3

1

110 19 173 13

97 12 154

26

13

8

4 21

71

8

11 68

3

5

14 1 36

13 7 19

13 4 18

3

1

in clu d e s six banks not members of the Federal Reserve System which opened as noninsured banks and operated more than a month before admission to insurance, but 

the predecessors of which were insured on January 1, 1935. 

in clu d e s one new bank adm itted to insurance and one termination in each of seven cases of consolidations involving the issuance of new charters. K>ADMISSIONS TO AND TERMINATIONS OF INSURANCE

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22 FEDERAL DEPOSIT INSURANCE CORPORATION

Establishment and change of location of branch offices. Under 

the provisions of the Banking Act of 1935 the approval of the Corporation 

is necessary whenever an insured bank not a member of the Federal 

Reserve System establishes a branch or changes the location of a branch. 

Between the effective date of the Banking Act of 1935 and the end of the 

year applications were received "from 25 banks for permission to establish 

or relocate branches. In 23 cases the applications covered the establishment of one new branch, in one case the consolidation of two branches into 

one branch and the establishment of a new branch, and in one case a 

change of location of a branch. Of these applications for permission to 

establish or change the location of branches, 10 were approved, 5 were 

rejected and 10 were pending or had been dropped at the close of the year.

APPLICATIONS FOR CAPITAL CHANGES AND FOR RELEASE OF

RESTRICTED DEPOSITS

Under the Banking Act of 1935 insured banks not members of the 

Federal Reserve System must obtain the approval by the Corporation 

of any reduction or retirement of common or preferred capital stock or 

capital notes or debentures. They must also obtain the permission of 

the Corporation to release deposits previously restricted and for that 

reason not insured.

Reduction of capital stock. From August 23 to the end of the 

year 191 banks applied for permission to reduce or retire capital obligations amounting to $13,317,400. Of these applications 134, involvingill, 189,600, were approved by the Corporation. Of the applications 

approved, 98 involved retirement of $5,104,900 of obligations held by the 

Reconstruction Finance Corporation. Reductions of common stock and 

retirements of locally held preferred stock or capital notes, amounting to 

$6,084,700, were approved in 37 cases.1 Most of these applications were 

for the purpose of revaluing book capital in order to write off accumulated 

losses. In a few cases, however, the retirement was to be utilized in 

whole or in part to return capital to stockholders.

Release of restricted deposits. At the beginning of 1935 approximately 140 insured banks not members of the Federal Reserve System 

had a portion of their deposits deferred or restricted. Such deferred or 

restricted deposits amounted to $16 million. The original permanent 

insurance plan made no provision for the exclusion from insurance of 

such restricted deposits if these banks were admitted to permanent 

insurance. In anticipation of the permanent plan becoming effective 

July 1, 1935, these banks were examined, and attempts were made to 

arrange for the elimination of such restricted deposits. However, the 

Banking Act of 1935 excludes restricted deposits from insurance under

lOne application approved involved both retirement of obligations held by the Reconstruction Finance Corporation, and revaluation of private capital.

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Federal Reserve Bank of St. Louis
BANK EXAMINATIONS 23

the revised permanent plan until and unless such deposits, with the 

approval of the Corporation, are made available to depositors.

From January 1 to the termination of the temporary plan releases by 

116 of these banks to depositors of some or all of their restricted deposits 

amounted to approximately $10 million.

Among the banks not members of the Federal Reserve System 

admitted to permanent insurance on August 23, 1935, were 61 with 

restricted deposits amounting to $6 million. Of this amount nearly $4 

million were made available to depositors, with the approval of the 

Corporation, by the end of the year.

BANK EXAMINATIONS

Examination policy. The Corporation has continued its policy of 

examining each insured bank not a member of the Federal Reserve 

System once during each calendar year. Second examinations are made, 

if necessary, when it is desired to ascertain the current position of a 

particular bank or prior to a consolidation, capital adjustment, or other 

change. Where feasible, examinations are conducted jointly with examiners from the State banking departments in order to avoid duplication of examinations and to relieve banks of the inconvenience of 

numerous examinations. The Corporation sends to the Reconstruction 

Finance Corporation copies of reports of examinations of all insured 

banks not members of the Federal Reserve System in which that 

Corporation has an investment in preferred stock, capital notes, or 

debentures.

Examination personnel and procedure. The organization of the 

Division of Examination includes a staff of review examiners and 

assistants in the Washington office, and, in each of the 12 districts, a 

supervising examiner with a staff of examiners and assistants.

Early in 1935 examiners from each of the 12 districts were selected 

for specialized work in the examination of trust departments of insured 

banks. These specialists in trust work were assigned to examine the 

larger trust departments and to advise other examiners in the conduct 

of examinations of smaller trust departments. To aid in this phase of 

the examining program a new manual of instructions for examiners of 

trust departments was prepared. This manual contains a compilation 

of the most recent legislation and court decisions pertaining to the 

exercise of fiduciary powers by banks and adapts the examining procedure to current practices in the operation of trust departments.

In the interest of efficiency the Corporation initiated a policy of 

holding examiners’ conferences in the various districts. Each conference is held under the direction of a supervising examiner with all 

examiners and assistant examiners of that district in attendance.

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24 FEDERAL DEPOSIT INSURANCE CORPORATION

Various phases of examination procedure are discussed by bank examiners and other persons having specialized experience in the appraisal 

of real estate and securities and in other phases of examination procedure. 

Two such conferences were held during 1935.

Number of examinations made. During the year 8,200 bank 

examinations were made by the Corporation. This number includes 

one regular examination for each of the 7,711 banks not members of 

the Federal Reserve System insured during a part or all of the year, 

258 second examinations of such banks, and 231 examinations of banks 

applying for admission to insurance.1

REGULATIONS AND RULINGS OF THE CORPORATION

During 1935 the Corporation promulgated five regulations relating 

to insured banks. Two of these regulations were of a temporary 

character and dealt respectively with the right of insured banks not 

members of the Federal Reserve System to withdraw from insurance 

at the close of the temporary funds, and with the manner of notice 

which banks thus withdrawing were required to give to their depositors. 

The remaining three regulations are of a permanent character and relate 

to the following topics: (I) obligations of insured banks found and 

prescribed to be deposit liabilities by general usage; (II) deduction of 

uncollected items from total deposit liabilities in determining the assessment base; (III) display of official sign at deposit windows and inclusion 

of official advertising statement in certain advertisements. A regulation 

was also drawn in 1935, but not promulgated until 1936, relating to 

the payment of interest on deposits. These regulations will be found 

on pages 87-103.

Regulations of a temporary character were given a letter designation, 

while the regulations of a permanent character were given a Roman 

numeral designation. The Corporation has also issued rulings relating 

to deposits evidenced by negotiable instruments and to the reporting for 

assessment purposes of deposit liabilities of one bank assumed by another 

bank.

Notice of termination of insurance at the close of the temporary funds. Under the Banking Act of 1935 all banks insured 

under the temporary insurance plan were automatically admitted to 

insurance under the permanent plan. State banks not members of the 

Federal Reserve System, however, were given an opportunity to terminate their insurance as of the close of the temporary funds, provided 

they gave notice of such termination within 30 days from the effective 

date of the Act. The deposits in banks terminating their insurance

E xam inations of banks applying for insurance were fewer during 1935 than the number of applications acted upon by the Board of D irectors because of reapplication by banks which had been exam ined, but not approved, in 1934.

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REGULATIONS AND RULINGS 25

during this period continued to be insured for a further 20 days or until 

midnight of October 12, 1935.

A bank electing to terminate its insurance was required to give notice 

to the Federal Deposit Insurance Corporation, and to the Reconstruction 

Finance Corporation if that Corporation owned or held as pledgee any 

preferred stock, capital notes, or debentures of such bank. Regulation 

G, adopted by the Board of Directors, and made effective August 26, 

1935, prescribed the manner of exercise of this right of an insured bank 

not a member of the Federal Reserve System to withdraw from insurance within 30 days after August 23, the effective date of the Banking 

Act of 1935.

Notice to depositors of insured banks withdrawing from insurance at the close of the temporary funds. The Banking Act 

of 1935 provided that the Board of Directors of the Federal Deposit 

Insurance Corporation should cause notice of termination to be given 

to the depositors of any bank withdrawing from insurance at the close 

of the temporary funds. Regulation H, adopted by the Board of 

Directors and made effective September 9,1935, prescribed the manner 

in which such notice should be given to depositors of those banks which 

withdrew within the 30 days allowed. The regulation required that a 

notice to depositors, furnished by the Federal Deposit Insurance 

Corporation, be posted in each office where the bank withdrawing from 

insurance received deposits and also in the main post office in each city, 

town, or village in which the bank received deposits. It was further 

required that a notice having the same wording be published in consecutive issues of a local newspaper from September 22 to October 12,

1935.

Obligations of insured banks found and prescribed to be 

deposit liabilities by general usage. Under the provisions of the 

revised deposit insurance law certain obligations of an insured bank are 

specifically enumerated and made deposit liabilities. The law provides 

further that such other obligations of an insured bank “ as the Board of 

Directors shall find and shall prescribe by its regulations to be deposit 

liabilities by general usage” shall be included as deposit liabilities for 

the purpose of ascertaining the base upon which the annual assessment 

of the Corporation is levied. Regulation I (Roman one), adopted by 

the Board of Directors and made effective August 26, 1935, provides: 

(1) that outstanding drafts, cashiers’ checks, and other officers’ checks 

shall be considered deposit liabilities if issued for money or its equivalent, 

issued for a charge against a deposit account, or issued in settlement of 

checks, drafts, or other instruments forwarded to the issuing bank for 

collection; (2) that checks drawn against a deposit account and certified 

by the drawee bank shall be included among deposit liabilities; (3) 

that outstanding drafts, checks, or letters of credit on which the bank

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

is primarily liable shall be included in deposits when issued for money 

or its equivalent or for a charge against a deposit account. The effect 

of this regulation is to include obligations of the various types mentioned 

in deposit liabilities when such obligations are issued for the convenience 

of customers of the bank but not to include them when issued in payment 

for goods or securities purchased or expenses incurred by the bank.

In a ruling of the Corporation adopted October 1, 1935, the phrase 

“ equivalent of money” is described by stating that drafts, cashiers’ 

checks and other officers’ checks, travelers checks and letters of credit 

must be regarded as issued for the equivalent of money when issued in 

exchange for checks or drafts or for promissory notes upon which the 

person procuring any of the enumerated instruments is primarily or 

secondarily liable. Another ruling exempts from assessment drafts 

drawn on foreign correspondents or foreign branches and payable only 

in foreign countries.

Deduction of uncollected items in determining assessment

base. Under the provisions of the revised deposit insurance law insured 

banks are permitted to make deductions of certain uncollected items 

from total deposit liabilities for the purpose of determining the base 

upon which assessments are computed. Regulation II, adopted by the 

Board of Directors and made effective August 26, 1935, provides that 

uncollected items wrhich have been included in a bank’s total deposit 

liabilities may be taken as deductions for the period of one day in the 

case of local items and for periods in accordance with the Federal 

Reserve bank time schedules in the case of out-of-town items.

Display of official sign and inclusion of official advertising

statement. The revised deposit insurance law provides that each 

insured bank shall display at each place of business a sign prescribed by 

the Federal Deposit Insurance Corporation, and shall include in advertisements relating to deposits a statement to the effect that its 

deposits are insured by the Federal Deposit Insurance Corporation. 

Regulation III, approved and made effective on October 11, 1935, 

supersedes Regulation F, issued in 1934, and prescribes the manner of 

display of such signs and the substance of such advertising statements.

Payment of time deposits and of interest on deposits by insured

banks not members of the Federal Reserve System. The revised 

deposit insurance law requires the Board of Directors of the Federal 

Deposit Insurance Corporation to prohibit the payment of interest on 

demand deposits in insured banks not members of the Federal Reserve 

System and to limit the rate of interest paid by such banks on time and 

savings deposits. Regulation IV, prescribing such limitations, was approved December 21, 1935, and was intended to supersede Regulations 

B and C, issued in 1934. Regulation IV, however, was not promulgated 

prior to the close of the year, and was, in fact, amended at a later date 

prior to its issuance.

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STATE LEGISLATION 27

Deposits evidenced by negotiable instruments. A ruling, 

adopted October 1, 1935, provides that the owner of any negotiable 

certificate of deposit, negotiable draft, negotiable cashier’s or officer’s 

check, negotiable certified check, or negotiable travelers check or letter 

of credit will be recognized as an insured depositor if affirmative proof 

is presented that the instrument was negotiated to such owner prior to 

the date of closing of such bank.

Reporting for assessment purposes deposit liabilities of a bank

which have been assumed by another bank. By a ruling adopted 

November 7, 1935, the deposit liabilities of a bank assumed by another 

bank are deemed, for purposes of assessment, to have ceased being 

deposit liabilities of the first bank and to have become deposit liabilities 

of the second bank on the date said assumption becomes effective, 

except to the extent that depositors of the first bank by affirmative 

action signify their express intention to hold the first bank liable as 

debtor.

STATE LEGISLATION AFFECTING DEPOSIT INSURANCE

Recommendations by the Federal Deposit Insurance Corporation. As was indicated in the Annual Report of the Corporation for 

the year ending December 31, 1934, the Corporation prepared for 

consideration by State legislatures drafts of bills designed to make more 

effective the insurance of bank deposits. This legislation was desired 

chiefly because it was not possible for banks in all States, at the time the 

deposit insurance law became effective, to cooperate with the Federal 

Deposit Insurance Corporation to the extent contemplated by Federal 

law. The suggested legislation was designed chiefly to serve the 

following purposes:

1. To authorize appointment of the Federal Deposit Insurance 

Corporation as receiver or liquidating agent of closed insured banks;

2. To provide for cooperation between State banking authorities 

and the Federal Deposit Insurance Corporation in making examinations 

and in exchanging information with regard to insured institutions;

3. To authorize banking institutions to issue preferred stock without 

double liability or to sell capital notes or debentures, and to include 

such stock or notes sold to the Reconstruction Finance Corporation in 

computing unimpaired capital or in satisfying minimum capital requirements ;

4. To exempt insured banking institutions, to the extent of the 

insurance coverage, from furnishing security for certain types of deposits 

under requirements of State law applicable to banks generally;

5. Specifically to authorize banking institutions to take advantage 

of all benefits furnished by the Federal Deposit Insurance Corporation.

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

State legislation enacted. By the close of 1935 the legislative 

bodies of 23 States had adopted the first of the above proposals, and 

in seven other States interpretation of existing statutes might, under 

varying circumstances, justify the appointment of this Corporation 

as receiver or liquidating agent. Twenty-four States had by legislation 

or otherwise made the second proposal effective, and eight more had 

authorized the exchange of information. Forty-six States had adopted 

the third proposal. The fourth proposal was adopted intact, or practically so, in 23 States, partially in 5 more, and was unnecessary in 10 

States. The fifth proposal has been adopted intact or in substance in 

all of the States except two.

PROBLEMS AND POLICIES OF THE CORPORATION

The Corporation is using the power vested in it to improve the condition of insured banks, and thus to reduce the probability of collapse of 

large numbers of banks whenever a severe recession in business occurs. 

The Corporation, however, possesses only limited powers of supervision of 

insured banks and cannot by itself assure the success of its efforts. Numerous problems of credit policy and of general economic development and 

change lie outside its proper sphere of action or influence.

The Corporation attempts to facilitate the adjustments which banks 

must make from time to time and to prevent the development in individual institutions of those situations which render them particularly 

vulnerable to economic change. The Corporation is concerned with the 

availability of banking facilities, competitive relationships among banks 

and between banks and other financial institutions, policies relating to 

the chartering of banks, the maintenance of adequate capital structure, 

the protection of banks against defalcation, and standards of bank 

supervision.

Capital cushion. One of the major problems in the preservation of 

a sound banking structure is the maintenance of an adequate capital 

cushion. Bank supervisors in general and the Corporation in particular 

must be continually concerned with the respective proportion of banking funds supplied by owners on the one hand and by creditors, chiefly 

depositors, on the other. The greater the proportion of banking funds 

supplied by owners, the greater the protection to depositors; the 

smaller the capital in relation to total assets, the greater the risk borne by 

creditors.

The Corporation has adopted the principle in admitting banks to 

insurance and in rebuilding the capital structures of banks that no 

bank should be operated without a net sound capital equal to at least 

10 percent of its deposits. In relation to liabilities other than capital, 

banks during recent years have maintained less than half the amount of 

capital funds that was maintained a half century ago.

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PROBLEMS AND POLICIES 29

Differences in character of business impose upon banks different 

degrees of risk so that a capital ratio adequate for one type of bank 

may be wholly inadequate for another type. Furthermore, economic 

fluctuations may render inadequate a capital structure previously considered to be sufficient. The further strengthening of the capital 

structure of insured banks thus continues to be one of the important 

problems of the Corporation.

Bank chartering. During the years preceding 1920, banks were 

chartered in many sections of the country which proved to be superfluous 

from the standpoint of the banking needs of the communities and the 

possibilities of profitable operation. The large number of new banks 

organized during this period was one of the factors responsible for the 

failures of the 1920’s and early 1930’s.

Responsibility for the chartering of banks is widely scattered with 

no single governmental authority controlling the extension of banking 

facilities. National banks begin operations with the approval of the 

Comptroller of the Currency; State banks members of the Federal 

Reserve System with the approval of State and Federal Reserve authorities; insured banks not members of the Federal Reserve System with 

the approval of State authorities and the Federal Deposit Insurance 

Corporation; and noninsured State banks with the approval of State 

authorities only. It should be noted also that since the Corporation is 

required automatically to admit to insurance all newly organized national 

banks and all State banks admitted to membership in the Federal Reserve 

System, the application to all classes of banks of uniform standards for 

admission to insurance is now possible only through voluntary cooperation 

among the Federal agencies involved.

Branch banking. Branch banking has been repeatedly advocated 

by many business groups and by many students of banking as a means of 

providing banking facilities in places where such facilities are needed 

but where independent banks may not be able to operate profitably. 

However, relatively little information is available regarding the comparative costs of operating branches and of operating independent unit 

banks, or regarding the types and quality of banking service rendered 

by branches and by independent unit banks.

Unnecessary and unprofitable banking offices may result from the 

establishment of numerous branches as well as from the chartering 

of numerous unit banks. The Corporation, in passing upon applications 

for the establishment of branches by insured banks not members of the 

Federal Reserve System, examines carefully the needs of the communities and the probabilities of profitable operation of banking offices 

in those communities. In this connection consideration is given not 

only to the number of banks and banking offices and to the volume of 

deposits in the community, but also to banking facilities offered by other

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

types of credit institutions and to the effect upon the banks of competition with such other institutions.

Surety bonds. Defalcation on the part of bank officers or employees 

is an important cause of failure of banks. In order that losses of this 

type should not fall on the Federal Deposit Insurance Corporation the 

Banking Act of 1935 gives the Corporation the power to require insured 

banks to carry adequate fidelity or surety bonds.

The problem of establishing definite amounts of fidelity and surety 

bonds which must be carried by insured banks is one to which the 

Corporation has given attention. No regulations have been issued 

regarding this problem. Bank examiners, however, have at times 

recommended to banks that they increase the amount of such protection 

in cases where the amount carried was obviously inadequate.

Interest rate regulation. Under the Banking Act of 1935 the 

Corporation is required to prohibit the payment of interest on demand 

deposits in insured banks not members of the Federal Reserve System 

and to limit the rates of interest or dividends paid by such banks on 

savings and time deposits. The Corporation is also required to prohibit insured banks not members of the Federal Reserve System from 

paying any time deposit before its maturity except upon such conditions 

as may be prescribed by the Corporation, and to prohibit the waiving 

by such bank of any requirement of notice before the payment of savings 

deposits unless such waiver is extended by the bank to all savings 

deposits having that requirement.

These duties are similar to duties imposed upon the Board of Governors of the Federal Reserve System with respect to banks which are 

members of the Federal Reserve System. The Corporation believes 

it to be the intent of Congress, through the granting of these regulatory 

powers, to prevent unsound competition among banks and to check the 

tendency of competition to raise the rates of interest to levels which 

may imperil the sound operation of banks. The Corporation has 

accordingly endeavored to work in close cooperation with the Board 

of Governors of the Federal Reserve System in order to avoid, insofar 

as possible, conflicting regulations.

Banks compete with other types of institutions for the savings and 

investment funds of the people of the country. If banks pay too high 

a rate of interest an unduly large volume of savings deposits will be 

attracted to the banks to the detriment of other competing institutions. 

On the other hand, if the limits upon the rates of interest which may be 

paid by banks are kept at too low levels there will be a tendency for 

institutions which are competitors of the banks, such as building and 

loan associations, industrial banks, credit unions, and various other 

types of savings, investment, and cooperative credit institutions, to 

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Federal Reserve Bank of St. Louis
PROBLEMS AND POLICIES 31

garding maximum rates of interest to be paid on time deposits must from 

the very nature of the problem be related to public policy regarding the 

functions not only of the banking system but also of other parts of the 

credit system.

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Federal Reserve Bank of St. Louis
PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

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Federal Reserve Bank of St. Louis
SUMMARY OF BANKING DEVELOPMENTS

The year 1935 marked further progress in banking reconstruction and 

in the development of a sound deposit insurance structure. Banking 

facilities were extended to a number of communities which, since the 

banking holiday in 1933, had lacked such local facilities. A number of 

weak banks in other communities were merged or consolidated with 

stronger institutions.

Deposits in insured banks increased substantially during the year. 

This growth was accompanied by a growth in assets generally considered 

to be least subject to depreciation—cash, balances with other banks, and 

United States Government securities. The quality of the banks’ assets 

and the soundness of their capital structures improved during the year. 

On the other hand, notwithstanding the growth in their assets, total 

earnings of insured banks declined. Total expenses were reduced correspondingly, however, and net earnings showed practically no change 

from the preceding year. Recoveries on assets previously written off 

were larger and write-offs of depreciated assets were smaller, and banks 

as a whole showed a net profit in 1935 as compared with a deficit in 1934.

CHANGES IN NUMBER OF COMMERCIAL BANKING OFFICES

Number of banks and branches. At the close of 1935 there were 

18,448 banking offices in operation in the United States and possessions, 

an increase of 29 for the year period. The number of operating commercial banks was reduced by 104, the number of branches was increased 

by 133. The figures are given in Table 7.

T a b le 7. NUMBER OF OPERATING COMMERCIAL BANKS AND BRANCHES

i n t h e U n i t e d S t a t e s a n d P o s s e s s i o n s

a t C l o s e o f 1934 a n d 1935

December

31, 1935

December

31, 1934 Change

B anks and b ra n c h e s.................................................................................... 18,448 18,419 + 2 9

Insured ............................................................................................................... 17,237 17,133 + 1 0 4

Noninsured....................................................................................................... 1,211 1,286 - 7 5

15,246 15,350 - 1 0 4

Insured............................................................................................................... 14,125 14,149 - 2 4

Noninsured....................................................................................................... 1,121 1,201 - 8 0

B ranches ....................................................................................................... 3,202 3,069 + 1 3 3

Insured ............................................................................................................... 3,112 2,984 + 1 2 8

Noninsured....................................................................................................... 90 85 + 5

Trend toward branch banking. The reduction in the number of 

banks and the increase in number of branches in operation during the 

year, shown by Table 7, reflect a continuance of a trend toward branch

35

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

banking which has been in existence since the beginning of the century. 

The proportion of total banking offices consisting of branches increased 

during 1935 from 16.7 percent to 17.4 percent. In 1925 about 6 percent 

of the banking offices were branches.

Changes in banks and branches. The number of new banks and 

branches opened, the number discontinued and ceasing operation, and the 

number of banks converted into branches, in the United States and 

possessions during 1935, are given in Table 8.

T a b le 8. CHANGES IN NUMBER OF OPERATING COMMERCIAL BANKS AND

B r a n c h e s in t h e U n it e d St a t e s a n d

P o sse ssio n s d u r in g 19351

Banks and

branches Banks Branches

N et ch ange during 1935.............................................................................

Newly opened for business2......................................................................

+ 2 9

+3 2 2

- 1 0 4

+ 184

- 8 1

-2 0 7

+ 1 3 3

+ 1 3 8

+ 8 1

- 8 6

Banks absorbed and converted into branches................................

Otherwise discontinued2............................................................................. - 2 9 3

1M ore detailed figures for banks in the continental United States are presented in Table 110, page 144.

2Excludes successions and conversions.

The table shows that 184 new banks opened for business during the 

year and that 288 banks either discontinued business or were absorbed or 

converted into branches. In addition to the 81 branches resulting from 

absorption of banks, 138 new branches were opened. Eighty-six branches 

were discontinued during the year. One of the banks opened, together 

with one of the branches, was located in Hawaii.

The changes in the number of banks and branches reflect further 

progress in the reorganization of the banking structure since the panic of

1933. The new banks were generally larger and more advantageously 

oeated than were the banks that discontinued business. Of the banks 

coming into existence a greater proportion were in towns having no other 

banking facilities than was the case of those ceasing operations. Of the 

183 new banks established in the United States, 121 were in places without 

banks or other banking offices, and 39 were in places having only one 

other bank. A smaller percentage of the new banks than of those ceasing 

operations were in places with less than 1,000 population; and a smaller 

percentage of the new banks than of those ceasing operations had a total 

capital account of less than $25,000.

Of the new banks opened for business during 1935, 18 were national 

banks, 2 were State banks members of the Federal Reserve System, 136 

were State banks not members of the Federal Reserve System which 

either were insured at the time of opening or became insured before the 

end of the year, and 27 were not insured on December 31, 1935. The

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CHANGES IN ASSETS AND LIABILITIES 37

branches newly established or resulting from absorption of banks were 

distributed as follows:

Branches of national banks.............................................................................. 70

Branches of State banks members of Federal Reserve System......... *20

Branches of insured State banks not members of Federal Reserve

System.................................................................................................................. 2128

Insured and non insured banks. The proportion of operating commercial banks insured by the Federal Deposit Insurance Corporation and 

also the proportion of commercial banking offices having insured status 

increased slightly during the year. On December 31, 1935, insured 

commercial banks held 96.9 percent of the total deposits in all commercial 

banks, compared with 97.4 percent on December 31, 1934.

CHANGES IN ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS

Condensed consolidated balance sheet. Table 9 gives condensed 

consolidated balance sheets of insured commercial banks at the beginning 

and at the close of 1935. The chief changes during the year were an 

increase in deposits of $5.1 billion, a decrease in other liabilities of $0.7 

billion, and an increase in assets of $4.5 billion.

Table 9. CHANGES DURING 1935 IN ASSETS AND LIABILITIES OF

I n s u r e d C o m m e r c ia l B a n k s

(Amounts in millions of dollars)

Amount Change during year

December

31, 1935

December

31, 1934

Amount Percent

ASSETS

Loans, discounts, and overdrafts........................................

U. S. Government obligations, direct and fully

guaranteed................................................................................

Other securities...........................................................................

Cash and amounts due from other banks......................

Other assets...................................................................................

14,698

13,275

6,841

13,851

2,253

14,603

11,713

6,459

11,203

2,461

+ 9 5

+ 1,5 62

+ 382

+ 2 ,6 4 8

-2 0 8

+ .7

+ 1 3 .3

+ 5 .9

+ 2 3 .6

- 8 .5

T o ta l a sse ts....................................................................... 50,918 46,439 + 4,4 79 + 9 .6

L IA B IL IT IE S A N D C A P IT A L

Total deposits...............................................................................

Borrowed m oney........................................................................

Other liabilities...........................................................................

Total capital account...............................................................

44,126

35

547

6,210

38,996

49

1,242

6,152

+ 5,1 30

- 1 4

-6 9 5

+ 5 8

+ 1 3 .2

- 2 8 .6

-5 6 .0

+ 0 .9

T o ta l liabilities and c a p ita l.................................. 50,918 46,439 + 4 ,4 7 9 + 9 .6

Number of banks........................................................................ 14,123 14,137 - 1 4 - 0 .1

Growth in deposits. Deposits of insured banks increased from $39 

billion to $44 billion or by 13 percent. Only a small proportion of this 

change was the result of banks beginning or ceasing operations or of banks

in clu d es three branches opened by banks not members of the Federal Reserve System which were 

later adm itted to membership.

in clu d e s one branch opened by a noninsured bank which was later adm itted to insurance.

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

admitted to or withdrawing from insurance. Practically all of the increase was a growth in the deposits of banks operating throughout the 

year.

The greater portion of the growth in deposits occurred in demand 

deposits of individuals and business enterprises, this increase being three 

times the amount of increase in time deposits of individuals and business 

enterprises. Deposits of other banks also contributed to the growth in 

total deposits, but United States Government deposits were sharply 

reduced.

Deposits increased m each of the States, ranging from 0.1 percent in 

Connecticut to 30.0 percent in Nevada. In general, the growth of deposits was relatively least in the New England States, and relatively 

greatest in the East North Central States. Geographic differences in 

rates of increase are shown by the map on page 39.

Types of assets acquired by insured commercial banks. The

growth of assets that accompanied the expansion of deposits was chiefly 

in cash, amounts due from banks, and United States Government obligations. Cash and amounts due from banks increased almost 24 percent 

and continued substantially in excess of legal requirements for reserve 

purposes. Holdings of United States Government obligations increased 

by 13 percent.

Loans and discounts outstanding and holdings of securities other than 

United States Government obligations increased by 2 percent. However, both the volume of new loans made in excess of those paid off by 

customers, and the volume of industrial securities purchased in excess 

of those matured or sold, were greater than appears from a direct comparison of bank holdings of these assets at the beginning and end of the 

year. Book values of loans and discounts and of securities were reduced 

through write-offs and some loans and discounts were exchanged for 

obligations of the Home Owners’ Loan Corporation and of the Federal 

Land Banks. These obligations are fully guaranteed by the United 

States Government.

At the close of 1935 approximately two-fifths of the assets of insured 

commercial banks represented credit extended to individuals and business 

enterprises (including State, local, and foreign governments) in the form 

of loans and discounts and of purchases of securities. United States 

Government obligations, direct and fully guaranteed, constituted onefourth of all assets of insured commercial banks. Cash and amounts 

due from banks constituted another fourth of the assets of these banks.

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PERCENTAGE INCREASE IN DEPOSITS OF INSURED COMMERCIAL BANKS

DECEMBER 31,1934 TO DECEMBER 31,1935

□ UNDER 5 %

llllll 5% TO 10 %

HTTTTT] io % to i s s

tZ_ E ^ 15% TO 20 %

20% to 25 %

K & M ! 25% AND OVER

CO

VOCHANGES IN ASSETS AND LIABILITIES

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

Factors in the growth of deposits and assets. The growth of 

deposits and of assets of insured banks in 1935 was the net result of the 

operation of various factors, some of which tended to increase, some 

to decrease, deposits and assets. The chief factors tending to increase 

deposits and assets were: (1) imports of gold and monetization of gold 

and silver bullion aggregating $2.3 billion; (2) purchases by insured banks 

of United States obligations to the extent of $2.2 billion in excess of 

sales and maturities, excluding retirement of bonds pledged by banks to 

secure national bank notes; (3) the making of new loans and discounts, 

and purchases by insured banks of securities other than obligations of 

the United States Government, amounting to $1.1 billion in excess of 

those paid off, sold and retired; and (4) an increase in domestic inter-bank 

obligations amounting to $1.1 billion. The effects of the foregoing factors 

were partly offset by: (1) the use by banks of $0.6 billion from their 

earnings to write-off loans and securities considered to be worthless; (2) 

withdrawal of $0.2 billion of cash by the public; (3) withdrawal by the 

United States Treasury of $0.4 billion of currency for retirement; and 

(4) a decrease of $0.3 billion in miscellaneous assets.

In addition to the changes enumerated above, the assets of the banks 

were reduced by $0.7 billion as a result of the retirement of United States 

Government bonds pledged to secure national bank notes. The liability 

of the banks for these notes was assumed by the United States Treasury.

APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS NOT

MEMBERS OF THE FEDERAL RESERVE SYSTEM

The condition of insured banks is dependent not only upon the volume 

of assets held by the banks but also upon the character and quality of 

such assets. The change in bank assets which occurred during 1935 was 

of a type which lessened the average risks of depreciation. The assets 

acquired during the year—chiefly cash, balances with other banks, and 

United States Government obligations—are subject, under the present 

banking structure, to less risk of depreciation in value than are other types 

of assets. Furthermore, in the case of insured banks not members of the 

Federal Reserve System, the percentage of assets classed by examiners 

as worthless or doubtful, was reduced below the amounts so classified in 

1934. The reduction was accomplished chiefly through write-offs and 

through increases in the appraised value of such assets.

Worthless and doubtful assets. Only banks not members of the 

Federal Reserve System are examined by the Federal Deposit Insurance 

Corporation; and data regarding the proportion of bank assets which are 

worthless or doubtful, or are of substandard quality, have been compiled 

only for these banks.

Assets classified by examiners as worthless or of doubtful value amounted 

to $306 million. Assets not shown on the books amounted to $40 million. 

The net worthless and doubtful items thus amounted to $266 million, or 

4 percent of total assets. In 1934 the net worthless or doubtful items 

amounted to 6 percent of total assets.

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CAPITAL OF INSURED COMMERCIAL BANKS 41

Large banks appear to have larger proportions of worthless and doubtful 

assets than do small banks. In Table 10 banks not members of the 

Federal Reserve System are grouped by size, and the percentages of 

assets classified by examiners as worthless and doubtful are shown for 

the banks in each size group.

T a b le 10. WORTHLESS AND DOUBTFUL ASSETS OF INSURED BANKS NOT MEMBERS

o f t h e F e d e r a l R e s e r v e S y stem a t T im e o f E x a m in a tio n in 1935

BANKS GROUPED BY AMOUNT OF DEPOSITS

(Assets in millions of dollars)

All b a n k s .........................................

Banks w ith deposits of—

$100,000 and under............

$100,000 to $250,000..........

$250,000 to $500,000..........

$500,000 to $750,000..........

$750,000 to $1,000,000 . . .

$1,000,000 to $2,000,000..

$2,000,000 to $5,000,000 .

$5,000,000 to $50,000,000

Over $50,000,000.................

N ot classified2......................

Number

of

banks

Total

assets,

book

value

Percent of

total assets

classified as

worthless or

doubtful1

7,734 6,471 4.1

930 86 4.6

2,469 492 2.4

1,959 768 2.3

778 529 2.6

446 427 2.8

671 1,054 4.0

322 1,064 4.9

128 1,630 5.6

4 413 4.8

27 8 6.4

1T otal worthless and doubtful assets, less sound value of assets not shown on books, 

in clu d es chiefly banks reorganized subsequent to latest examination.

CAPITAL OF INSURED COMMERCIAL BANKS

Total capital account. Total capital account includes capital stock, 

capital notes and debentures, surplus, undivided profits, and capital reserves. 

At the close of 1935, the total capital account of insured commercial banks 

amounted to $6 billion, or 12 percent of total assets, as compared with 

13 percent of total assets at the close of 1934. The decline in the ratio 

of total capital account to assets was due to the fact that assets increased 

rapidly during the year, while there was little change' in total capital 

account. Total capital account increased during 1935 by $58 million, or 

less than 1 percent. Changes are summarized in Table 11.

T a b le 11. CHANGES IN TOTAL CAPITAL ACCOUNT OF INSURED

C o m m e r c ia l B a n k s D u r in g 1935

Amount

(in millions

of dollars)

D ecem ber 31, 1935............................................................................................................................................... 6,210

D ecem ber 31, 1934............................................................................................................................................... 6,152

N et c h a n g e ................................................................................................................... .......................................... + 5 8

Banks admitted to insurance (including new banks opened for bu sin ess)........................... + 1 8

Banks withdrawing or discontinuing business..................................................................................... —28

Change in banks insured at beginning and end of year.................................................................. + 6 8

R FC capital..................................................................................................................................................... + 4 6

Other capital.............................................................................................. ......................................... + 2 3

Deficit after dividends................................................................................................................................ —1

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42 FEDERAL DEPOSIT INSURANCE CORPORATION

Net sound capital of banks not members of the Federal Reserve

System. The net sound capital of a bank is obtained by deducting from 

total capital account the book value of assets classified by examiners as 

worthless or of doubtful value and adding the determinable sound banking 

value of assets not shown on the books of the banks and unrealized 

appreciation of securities. Data summarizing the soundness of capital 

accounts have been compiled only for those banks examined by the 

Federal Deposit Insurance Corporation.

The net sound capital of insured commercial banks not members of the 

Federal Reserve System, at the time of examinations in 1935, amounted 

to $900 million, or 77 percent of total capital account, a substantial 

improvement from the time of examinations in 1934 when net sound 

capital amounted to only $800 million, or 67 percent of total capital 

account.

The growth in net sound capital, at a time when there was practically 

no change in total capital account, was due to the fact that net earnings 

from current operations, recoveries on assets previously written off and 

profits on securities sold were used to write off $129 million of depreciated 

assets and of assets classified as worthless or of doubtful value. The 

assets written off amounted to 12 percent of the total capital account of 

the banks.

Relation of net sound capital to net sound assets and to deposits.

The ratio of net sound capital to net sound assets indicates what percentage of depreciation in the value of assets, other than assets already 

classified by examiners as worthless or of doubtful value, would wipe out 

the equity of stockholders and leave depositors, other creditors, and the 

Federal Deposit Insurance Corporation without protection against further 

asset depreciation. Between examinations in 1934 and those in 1935 net 

sound capital of insured banks not members of the Federal Reserve 

System increased from 13.5 to 14.0 percent of net sound assets, while the 

ratio of net sound capital to deposits rose from 15.8 percent to 16.6 percent.

T a b le 12. N u m b e r OF INSURED COMMERCIAL BANKS NOT MEMBERS

of th e F e d e r a l R e s e r v e Sy s t e m G r o u p e d A c c o r d in g

to R a t io of N e t So u nd C a p it a l to D e p o s it s,

l a t e s t e x a m in a t io n in 1935

Number of

banks

Percent of

all banks

A ll b a n k s......................................................................................................................................

Banks without net sound capital..................................................................................

Banks with ratio of net sound capital to deposits of—-

0 to 5 pe rcen t....................................................................................................................

7,731

35

126

839

1,838

1,654

1,176

2,063

100.0

.5

1.6

10.8

23.8

21.4

15.2

26.7

5 to 10 percent...................................................................................................................

10 to 15 percent.................................................................................................................

15 to 20 percent.................................................................................................................

20 to 25 percent.................................................................................................................

25 percent or m ore...........................................................................................................

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CAPITAL OF INSURED COMMERCIAL BANKS 43

Eighty-seven percent of the banks had net sound capital amounting to 

more than 10 percent of deposits. About 24 percent of the banks had net 

sound capital amounting to between 10 and 15 percent of their deposits, 

and 63 percent of the banks had net sound capital in excess of L5 percent. 

The figures are shown in Table 12.

In 1935, as in 1934, 13 percent of the banks had a net sound capital 

amounting to less than 10 percent of their deposits. Banks with net 

sound capital amounting to less than 5 percent of their deposits and 

banks without net sound capital comprised 2 percent of all banks in 1935 

as compared with 2.5 percent in 1934 and nearly 20 percent in 1933. 

The figures are shown in Table 13.

T a b le 13. INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F e d e r a l R e s e r v e S y s t e m G r o u p e d A c c o r d in g t o

R a t i o o f N e t S o u n d C a p i t a l t o D e p o s i t s ,

e x a m i n a t i o n s i n 1933, 1934 a n d 1935

Percentage distribution of

number of banks

1935 1934 1933

All b a n k s............................................................................................................... 100.0

.5

1.6

10.9

87.0

100.0

.6

1.9

10.5

87.0

100.0

10.0

9.6

14.9

65.5

Banks without net sound capital..........................................................

Banks with ratio of net sound capital to deposits of—

0 to 5 percent..............................................................................................

5 to 10 percent...........................................................................................

Over 10 percent.........................................................................................

Capital supplied by the Reconstruction Finance Corporation.

During 1935 the amount of capital obligations of insured commercial 

banks held by the Reconstruction Finance Corporation increased from 

$821 million to $867 million. At the end of the year the bank capital 

supplied by that Corporation was 14 percent of the total capital account 

of all insured banks, as compared with 13 percent at the end of 1934, 

and 26 percent of the total par value of their capital stock, notes, and 

debentures, as compared with 24.5 percent. The Reconstruction Finance 

Corporation held capital stock, notes, and debentures in 5,675 of the 

14,125 insured banks on December 31, 1935.

In the case of insured banks not members of the Federal Reserve 

System, capital obligations held by the Reconstruction Finance Corporation amounted to 19.9 percent of book capital on December 31, 1935, as 

compared with 18.7 percent on December 31, 1934. Such obligations 

represented 23.5 percent of net sound capital of these banks in 1935, as 

compared with 21.9 percent in 1934. Nearly half of the insured banks 

not members of the Federal Reserve System reported capital funds 

supplied by that Corporation. In these banks, one-half of the net sound 

capital was supplied by the Reconstruction Finance Corporation and 

one-half by private interests.

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44 FEDERAL DEPOSIT INSURANCE CORPORATION

EARNINGS OF INSURED COMMERCIAL BANKS

Earnings from current operations. Total earnings of all insured 

commercial banks in 1935 amounted to $1,483 million, 2 percent less than 

in 1934, although total earning assets were 6 percent greater than in

1934. Operating expenses in 1935 amounted to $1,041 million, which was 

also about 2 percent below such expenses in 1934.

Net earnings from current operations, before taking into account recoveries on assets previously written off, profits on securities sold, and 

deductions because of depreciation and worthless assets written off, 

amounted to $442 million, practically the same as in 1934 and equivalent 

to $0.93 for each $100 of total assets, and to a 7 percent return on total 

capital account.

Net addition to profits. During 1935 all insured commercial banks 

wrote off losses amounting to about $667 million. Recoveries on assets 

previously written off and profits on sales of securities amounting to $432 

million, together with net earnings from current operations, left the 

banks net profits of $207 million. In 1934, when losses written off were 

exceptionally large, the banks showed a deficit of $339 million. Net 

profits in 1935 amounted to 3.3 percent on total capital account, or to 

6 percent on the par value of capital stock, notes, and debentures.

Disposition of net profits. Dividends declared were equivalent to 

3.3 percent on total capital account, and to 6.2 percent on the par value 

of capital stock, notes, and debentures.

Table 14. EARNINGS, E x p e n s e s , AND DISPOSITION OF PROFITS,

I n s u r e d C o m m e r c i a l B a n k s , 1935

Amount

(in millions

of dollars)

Amounts per $100 of—

Total

assets1

Total

capital

account2

Total earnings from current operations................................................. 1,483

1,041

$3.09

2.16

$24.98

Total expenses of current operations....................................................... 16.77

N et earnings fro m cu rrent o p e ra tio n s .................................. 442

432

.93

.94

7.25

Recoveries and profits on securities sold.............................................. 7.27

N et earn ings plus recoveries......................................................... 874

667

1.87

1.44

14.52

11.16Losses and depreciation..................................................................................

N et p rofits.................................................................................................. 207

207

.43

.43

3.34

3.34

Interest on capital notes and debentures and dividends on preferred and common stock..........................................................................

N et ad dition to profits after dividends.................................. 0 .00 .00

1 Total assets include all assets shown in bank balance sheets, except securities borrowed and custom ers’ liability on account of acceptances and bills sold with endorsement. Average total assets during 

1935 are estimated at $47,981 million.

2 Average total capital account during 1935 is estimated at $6,192 million.

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EARNINGS OF INSURED COMMERCIAL BANKS 45

Cash dividends, including interest on capital notes and debentures, 

approximately equalled net profits and amounted to $207 million, an 

increase of about 10 percent over the amount of dividends paid in 1934. 

Net earnings, recoveries and write-offs, and dividend payments together 

had no appreciable net effect upon the book value of the banks’ total 

capital account.

Table 14 shows the amounts of current earnings, recoveries and writeoffs, and the disposition of net profits in 1935, together with the ratios of 

these items to total assets and to total capital account.

Earnings by class of bank. In Table 15, earnings, expenses, and 

disposition of profits of insured commercial banks in 1934 and 1935 are 

shown for each class of bank.

Total earnings and expenses were smaller in relation to total assets in

1935 than in 1934 for each class of bank. In national banks and in State 

banks members of the Federal Reserve System the reduction in total 

earnings was greater than the reduction in expenses and the amount of 

net earnings from current operations per $100 of total assets declined. 

From 1934 to 1935 insured commercial banks not members of the 

Federal Reserve System showed an increase in net earnings on total 

assets and in the later year showed a higher rate of net earnings than did 

banks members of the Federal Reserve System. In 1934 the rate for 

banks not members of the Federal Reserve System was lower than that

Table 15. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, INSURED

C o m m e r c i a l B a n k s , 1934 a n d 1935

BY CLASS OF BANK

(Amounts in millions of dollars)

All insured

commercial

banks

Banks members F. R.

System Banks not

members F. R .

System National State

1935 1934 1935 1934 1935 1934 1935 1934

Number of banks........................................... 14,110 14,124 5,386 5,462 1,001 980 7,723 7,682

Total earnings................................................. 1,483

1,041

1,515

1,067

792

548

807

556

414

284

437

293

276

208

271

Total expenses................................................ 218

N et earnings fro m cu rrent operations .......................................................... 442

432

667

448

292

1,079

244

240

326

251

167

571

130

136

212

144

87

302

68

56

129

53

38

206

Recoveries and profits on sale of securities ...................................................................

Losses and depreciation.............................

N et pro fits.................................................. 207

207

339

188

158

113

153

92

54

74

71

82

5

20

115

Cash dividends declared............................. 14

N et addition to profits after dividends ........................................................ 527 45 245 20 153 25 129

N O T E : Italics indicate deficit or deduction from profits.

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

for banks members of the System. In relation to total capital account 

the rate of net earnings from current operations was highest in national 

banks and lowest in insured banks not members of the Federal Reserve 

System, due chiefly to the fact that the ratio of total capital account to 

total assets was lowest in national banks and highest in insured banks 

not members of the Federal Reserve System. After recoveries and 

write-offs national banks and State banks members of the Federal Reserve 

System showed a net profit while insured banks not members of the 

Federal Reserve System showed a slight net deficit. Only national banks 

as a group showed sufficient profits to cover dividends declared.

Earnings by size of bank. Data regarding earnings in 1935 of 

banks grouped by size are available for insured State banks, but not 

for national banks. Figures of net earnings of these banks are shown 

in Table 16.

T a b le 16. N e t E a r n in g s P e r $100 of T o t a l A s s e t s,

I n su r e d C o m m e r c ia l St a t e B a n k s , 1934 a n d 1935

b a n k s o p e r a t i n g t h r o u g h o u t t h e y e a r g r o u p e d b y a m o u n t o f d e p o s i t s

All banks Banks not members F. R. System

1935 1934 1935 1934

All b a n k s...................................................................................... $0.89 $0.97 $1.07 $0.87

B anks w ith deposits of—

$100,000 and under.......................................................... 1.25 0.73 1.25 0.73

$100,000 to $250,000 ...................................................... 1.23 0.85 1.23 0.85

$250,000 to $500,000....................................................... 1.20 0.86 1.21 0.85

$500,000 to $750,000....................................................... 1.17 0.91 1.18 0.89

$750,000 to $1,000,000................................................... 1.11 0.86 1.10 0.84

$1,000,000 to $2,000,000................................................ 1.08 0.93 1.08 0.87

$2,000,000 to $5,000,000 ............................................... 1.08 0.96 1.06 0.93

$5,000,000 to $50,000,000............................................. j 0.94 0.91 1.00 0.91

Over $50,000,000.............................................................. ! 0.77 1.03 0.63 0.78

In 1935, the rate of net earnings was higher in the small banks than in 

the large banks; in 1934 the rate was lower in the small banks than in the 

large banks. The table also shows that in 1935 net earnings on total 

assets were higher in practically every size group of insured commercial 

banks not members of the Federal Reserve System than in those of all 

insured commercial State banks, which include banks both members and 

not members of the Federal Reserve System. In 1934 the reverse was 

true.

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EARNINGS OF INSURED COMMERCIAL BANKS 47

Rates of interest received and paid. Rates of interest received on 

loans and on securities by insured commercial banks not members of 

the Federal Reserve System were lower in 1935 than in 1934. Compiled 

rates are shown in Table 17. The average rate of interest paid on time 

deposits by these banks was reduced from about 2 ^ percent in 1934 to 

about 2% percent in 1935.

T a b le 17. RATES OP INTEREST RECEIVED ON LOANS AND ON SECURITIES

a n d P a i d o n T i m e D e p o s i t s b y I n s u r e d C o m m e r c i a l B a n k s n o t

M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , 1934 a n d 1935

Rate in percent

1935 1934 Change

Interest received on loans.............................................................................. 5.75 5.90 - .1 5

Interest and dividends received on securities...................................... 3.51 3.77 - .2 6

Interest paid on time deposits..................................................................... 2.28 2.77 - .4 9

Banks with net earnings compared with banks with net losses.

Of the insured commercial State banks operating throughout all of 1935, 

8,080 reported net earnings and 407 net losses from current operations 

during the year, before taking into account recoveries on assets previously 

written off, profits on securities sold, and losses written off on depreciated 

assets.

The banks reporting net losses from current operations showed higher 

total earnings on each $100 of assets than did the banks reporting net 

earnings. The portion of total earnings representing interest received on 

loans was greater for banks showing net losses than for those with net 

earnings, while income on securities was a more important source of 

earnings for the latter group of banks than for those showing net losses.

Total expenses of current operations for banks reporting net losses were 

almost twice as great for each $100 of total assets as was the case with 

banks showing net earnings. Every classification of expenses of current 

operations was higher in relation to total earnings for banks reporting 

net losses than for banks reporting net earnings.

Recoveries and profits on securities sold bore about the same relation 

to total assets for both groups of banks. Losses and depreciation of 

assets, however, were substantially higher for banks reporting net losses 

than for banks reporting net earnings. Significant figures are summarized 

in Table 18.

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

T ab le 18. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS,

I n s u r e d C o m m e r c i a l S t a t e B a n k s , 1935

BANKS REPORTING NET EARNINGS COMPARED WITH BANKS REPORTING NET LOSSES

|

All banks

Banks

reporting

net earnings

from

operations

Banks

reporting

net losses

from

operations

Number of banks................................................................................................ 8,487 8,080 407

A m o u n ts per $100 of to ta l earnings

Earnings fro m cu rrent op eration s:

Interest and discount on loans............................................................... $43.86 $43.77 $48.76

Interest and dividends on securities.................................................... 33.61 33.73 26.63

Collection and service charges, commissions, etc........................... 6.39 6.34 9.06

Other earnings................................................................................................ 16.14 16.16 15.55

T o ta l earnings fro m cu rrent o p e ra tio n s.............................. 100.00 100.00 100.00

Expenses of cu rrent op eration s:

Salaries and wages........................................................................................ $28.69 $28.55 $36.97

Interest on deposits...................................................................................... 18.28 18.09 28.90

Taxes................................................................................................................... 5.28 5.20 10.03

Other expenses................................................................................................ 19.06 18.82 32.45

T o ta l expenses of cu rrent o p era tio n s .................................... 71.31 70.66 108.35

N et earnings fro m cu rren t o p e r a tio n s .......................................... $28.69 $29.34 $5.55

A m o u n ts per $100 of to ta l assets

Total earnings from current operations.................................................. $ 3.11 $ 3.11 $3.51

Total expenses of current operations....................................................... 2.22 2.20 3.80

N et earnings fro m cu rrent o p era tio n s............................................ .89 .91 .29

Recoveries, profits on securities, etc......................................................... .87 .87 .90

N et earnings and recoveries................................................................... 1.76 1.78 .61

Losses and depreciation of assets.............................................................. 1.53 1.48 5.12

N et addition to profits for period....................................................... .23 .30 4.51

Cash dividends declared.................................................................................. .43 .43 .06

N et addition to profits after dividends........................................... .20 .13 4.57

N O T E : Italics indicate deficit or deduction from profits.

MUTUAL SAVINGS BANKS

Changes in number and deposits of all mutual savings banks.1

On December 31,1935, there were 566 mutual savings banks operating in 

the United States, a reduction of nine from the preceding year. Three 

banks discontinued operations, seven were consolidated with other 

mutual savings banks, and one bank previously operating under restrictions was authorized to resume regular operations.

Deposits of mutual savings banks amounted to $9,877 million at the 

close of the year, as compared with $9,742 million at the beginning of the 

year, an increase of $135 million or 1.4 percent.

Mutual savings banks insured by the Federal Deposit Insurance

Corporation. Under the temporary Federal deposit insurance plan, as 

amended in 1934, the deposits of mutual savings banks were insured in a 

separate fund called the Fund for Mutuals. Upon inception of the permanent plan, this fund and the fund for commercial banks were 

consolidated.

1M utual savings banks are defined as banks without capital stock transacting a savings bank business, 

the net earnings of which inure wholly to the benefit of their depositors after paym ent of obligations or 

any advances by organizers. The classification used in this discussion conform s with that adopted by 

the Board of Governors of the Federal Reserve System except for one bank in California, classified by 

the Board as a mutual savings bank, which is classified by the Federal Deposit Insurance Corporation 

as a commercial bank.

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At the beginning of 1935, 68 mutual savings banks with deposits of 

$1,045 million w ere insured in the Fund for Mutuals. At the close of the 

year, 56 mutual savings banks with deposits of $978 million were insured 

under the permanent plan. Changes during the year in the number and 

deposits of insured mutual savings banks are shown in Table 19.

T a b le 19. CHANGES DURING 1935 IN THE NUMBER AND DEPOSITS OF

M u t u a l Sa v in g s B a n k s I n su r e d b y th 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

Number

Deposits

(in millions

of dollars)

D ecem ber 31, 1935..................................................................................................................

D ecem ber 31, 19 3 4 ..................................................................................................................

N et c h a n g e .............................................................................................................................

Banks admitted to insurance.................................................................................

Banks withdrawing from insurance....................................................................

Banks consolidated with other insured banks...............................................

56

68

978

1,045

- 1 2

+ 1

- 8

- 5

- .6 7

+ 1

- 8 7

Growth of deposits in banks insured at end of year.................................. + 1 9

N o t e : Deposits of banks withdrawing from insurance are as of Decem ber 31, 1934.

Changes in assets of insured mutual savings banks. Total assets 

of the 56 mutual savings banks insured at the close of 1935 increased during 

the year from $1,083 million to $1,108 million. Approximately half of the 

assets of these banks are in real estate mortgages. During 1935 the 

amount of such mortgages decreased $25 million, or by 4.8 percent. This 

change was due largely to foreclosures or other acquisitions of property on 

which mortgages were held; real estate owned, other than banking house, 

increased by $13 million. Holdings of cash and of obligations of the 

United States Government increased.

Table 20 gives a comparative condensed consolidated balance sheet of 

the 56 mutual savings banks insured at the close of 1935, and shows the 

changes in assets and liabilities which occurred during the year.

Earnings and expenses of insured mutual savings hanks. Total 

earnings of the 56 insured mutual savings banks amounted to $43 million 

during 1935. Of this amount, $20 million or nearly half, was interest 

received on real estate mortgages; and $17 million was interest aftd dividends on securities. The average rate of return on real estate mortgages 

was 4.2 percent in 1935, as compared with 4.4 percent in 1934, while the 

average rate of earnings on securities dropped from 3.9 percent in 1934 to 

3.7 percent in 1935.

Net profits, after payment of current operating expenses other than 

interest or dividends on deposits and after allowances for losses and recoveries, amounted to $28 million. Of these profits, $22 million were paid 

to depositors as interest or dividends, and $6 million were added to capital 

account.

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50 FEDERAL DEPOSIT INSURANCE CORPORATION

T ab le 20. ASSETS AND LIABILITIES OF 56 MUTUAL SAVINGS BANKS

I n s u r 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

a t t h e C l o se of 1935

(Amounts in millions of dollars)

Amount Change during 1935

December

31, 1935

December !

31, 1934 | Amount Percent1

ASSETS

Real estate mortgages............................................................. 481 506 ! - 2 5 - 4 .8

Other loans and discounts..................................................... 8 9 - 1 -1 2 .1

United States Government obligations, direct and

fully guaranteed..................................................................... ! 179 145 + 3 4 + 2 3 .2

Other securities.......................................................................... | 284 291 | - 7 - 2 .1

Cash and amounts due from banks.................................. 68 55 1 + 1 3 + 2 2 .7

Other assets.................................................................................. 88 77 + 11 + 14.0

T o ta l a sse ts.................................................................. 1,108 1,083 + 2 5 + 2 .4

l i a b i l i t i e s a n d c a p i t a l

Total deposits.............................................................................. 978 959 + 19 + 2 .0

Borrowed m oney........................................................................ ! 1 2 - 1 -2 8 .4

Other liabilities........................................................................... ! 3 3 i - . 2

Total capital account............................................................... 126 119 + 7 + 6 .0

T o ta l liabilities and capital a cc o u n t.......... ; 1,108 1,083 j + 2 5 + 2 .4

C om pu ted from amounts in thousands of dollars.

In Table 21 the earnings and expenses during 1935 of the 56 mutual 

savings banks insured at the close of the year are compared with the earnings and expenses in 1934 of 55 of these banks.

T able 21. EARNINGS AND EXPENSES OF MUTUAL SAVINGS BANKS

I n s u r 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

a t t h e C lo se of 1935

(Amounts in millions of dollars)

1935

(56 banks)

1934

(55 banks1)

Interest received on Veal estate mortgages.................................................................... 20.1 22.3

Interest and dividends received on securities.............................................................. 17.2 17.1

Other current operating earnings....................................................................................... 5.4 4.1

T o ta l cu rrent operating earn ings..................................................................... 42.7 43.5

Current operating expenses (excluding interest and dividends paid depositors) 13.1 12.5

N et earnings from current op era tio n s.......................................................... 29.6 31.0

Recoveries from assets previously written off and profits on securities sold . . . 7.0 5.4

T otal net current earnings and recoveries................................................. 36.6 36.4

Losses and depreciation written o ff.................................................................................. 8.6 9.9

N et profits available for distribution to depositors and for additions to capital fu n d s ...................................................................................... 28.0 26.5

Interest and dividends paid depositors........................................................................... 22.1 24.2

Net profits added to capital fu n d s ................................................................... 5.9 2.3

fig u r e s for one bank with deposits of $922,406 on December 31, 1935, admitted to insurance during 

1935, are not available.

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MUTUAL SAVINGS BANKS 51

Total capital account of insured mutual savings banks. Mutual 

savings banks have no capital stock. However, these banks maintain 

surplus and reserve accounts, built up chiefly of undistributed earnings.

The total capital account of the 56 mutual savings banks insured at the 

close of the year increased during 1935 by $7 million or 6 percent. Six 

million dollars were obtained from net profits not distributed to depositors, 

and $1 million from the Reconstruction Finance Corporation. Total capital funds, at the close of 1935, amounted to $126 million, which is 11 percent of total assets and 13 percent of deposits. This proportion of capital 

funds to total assets and to deposits is approximately the same as in the 

case of commercial banks.

At the close of 1935 the Reconstruction Finance Corporation held 

capital notes and debentures of 25 insured mutual savings banks amounting to $14 million, or 11 percent of the total capital account of all mutua] 

savings banks insured by the Federal Deposit Insurance Corporation.

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Federal Reserve Bank of St. Louis
PART THREE

RESEARCH REPORTS

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The inauguration of the temporary Federal deposit insurance funds, and 

their operations during 1934 are discussed in detail in the Annual Report of 

the Federal Deposit Insurance Corporation for 1934. The termination of 

these funds is discussed elsewhere in this report.1 The following discussion summarizes briefly the membership of these funds for the entire 

period of their existence.

Establishment of the Temporary Federal Deposit Insurance

Fund. The Federal Deposit Insurance Corporation was established by 

the Banking Act of 1933 as a permanent agency for the insurance of bank 

deposits. That Act was drafted immediately following the banking 

crisis of that year. It was known that many banks could not at that time 

meet the tests which should be established for permanent insurance. It 

was desired, however, immediately to restore complete confidence of the 

public in the safety of funds on deposit in banks.

Under these conditions provision was made for the establishment of a 

temporary insurance fund to be put into effect as soon as possible and to 

remain in operation during the period necessary for the establishment of 

permanent insurance. The temporary fund was to go into effect January 

1, 1934, or at such earlier date as the President of the United States might 

direct by proclamation, and the permanent plan was to go into effect 

July 1, 1934. The President did not use his power to advance the date of 

opening of the temporary fund and the temporary plan went into effect 

January 1, 1934.

All banks which were members of the Federal Reserve System and 

w hich had been licensed by the Secretary of the Treasury under the Exective Order of the President issued March 10,1933, were required to become 

insured in the Temporary Federal Deposit Insurance Fund. Any State 

bank not a member of the Federal Reserve System, including any such 

bank in the District of Columbia, was authorized to become insured in 

this Fund upon meeting four conditions: (1) certification to the Federal 

Deposit Insurance Corporation by the appropriate banking authority 

that the bank was in solvent condition; (2) examination and approval 

by the Corporation; (3) agreement to comply with the requirements of 

the deposit insurance law; and (4) payment of the assessment required.

The deposits of each bank insured in the Temporary Federal Deposit 

Insurance Fund were, in the event of closing on account of inability to 

meet deposit liabilities, insured to a maximum of $2,500 on account of the 

net approved claim of the owner of any deposit. This insurance was 

made applicable only to deposits made available since March 10, 1933, for 

withdrawal in the usual course of the banking business.

^ee page 7.

MEMBERSHIP OF THE TEMPORARY FEDERAL DEPOSIT

INSURANCE FUNDS

55

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56 FEDERAL DEPOSIT INSURANCE CORPORATION

To meet the cost of this insurance, each insured bank was assessed onehalf of 1 percent of the amount of deposits eligible for insurance, as reported on a certified statement submitted at the time of admission. Onehalf of this assessment was payable at the time of admission, the other 

half upon call by the Board of Directors of the Corporation. The Corporation was also authorized to levy an additional assessment of one-half 

of 1 percent, if necessary to meet its obligations on account of banks 

closing during the period of operation of the temporary insurance plan.

Provision was also made for the refund to banks insured in the Temporary Federal Deposit Insurance Fund, on such basis as the Corporation 

found to be equitable, of the estimated balance remaining in the Fund on 

July 1, 1934, after providing for all liabilities of the Fund, including its 

expenses of operation and estimated losses in suspended insured banks.1

Extension and revision of insurance under the temporary plan.

By an Act approved June 16, 1934, Congress extended the period of insurance under the temporary plan to July 1, 1935, and amended the plan 

in several respects.2 On June 28,1935, the operation of the temporary plan 

was again extended for another two months, to cover the period until the 

enactment of the Banking Act of 1935, then under consideration.3

The amendment of June 16, 1934, to the temporary insurance plan increased the insurance coverage from $2,500 to $5,000 for each depositor, 

except in the case of mutual savings banks, which were permitted to select 

either of these two limits. Insured banks were required to file another 

certified statement of deposits as of October 1, 1934, and to adjust their 

assessments in accordance with any increase in the amount of deposits 

eligible for insurance.

The Corporation, in the discretion of the Board of Directors, was authorized to establish a separate fund for mutual savings banks. It was 

provided that, in case such a fund were established, the Temporary 

Federal Deposit Insurance Fund should not be subject to the liabilities of 

the Fund for Mutuals, and that the Fund for Mutuals should not be subject to the liabilities of the Temporary Federal Deposit Insurance Fund. 

A separate Fund for Mutuals was established by the Board of Directors on 

July 14, 1934, effective July 1, 1934.

Banks in the territories of Alaska, Hawaii, Puerto Rico, and the Virgin 

Islands of the United States were made eligible for insurance. Insured 

banks not members of the Federal Reserve System were permitted to

lrrhe text of the original deposit insurance law enacted June 16, 1933, is given in the Annual Report

of the Federal Deposit Insurance Corporation, 1934, pages 117-27. The provisions regarding the 

Tem porary Federal Deposit Insurance Fund are contained in subsection (y), pages 126-27, of that R eport.

2The text of the A ct extending and amending the tem porary insurance plan is given in the Annual

Report of the Federal Deposit Insurance Corporation, 1934, pages 128-30.

8The text of the resolution extending the operation of the tem porary insurance plan until the effective 

date of the Banking A ct of 1935 is given on page 67.

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MEMBERSHIP OF THE TEMPORARY FUNDS 57

terminate their insurance in the Temporary Federal Deposit Insurance 

Fund on July 1, 1934, provided such banks gave notice to the Corporation 

at least ten days prior to July 1, 1934, of their intention to withdraw on 

that date. Provision was made for the refunding to such withdrawing 

banks of their proportionate share in the balance in the Fund on that date.

Insured banks were required to display a sign or signs to the effect that 

their deposits were insured by the Federal Deposit Insurance Corporation.

Termination of the temporary Federal deposit insurance funds.

The Banking Act of 1935, which became effective August 23, 1935, provided for the immediate termination of the temporary plan of insurance of 

bank deposits. By this Act the Temporary Federal Deposit Insurance 

Fund and the Fund for Mutuals were terminated, and all banks insured in 

either of these funds, with the exceptions noted below, became insured 

under the revised permanent insurance plan.1 Any bank not a member 

of the Federal Reserve System which had failed to file a certified statement 

of its deposits on October 1,1934, and to pay the required assessment, and 

any bank which had permanently discontinued banking operations prior 

to the effective date of the Banking Act of 1935 ceased to be an insured 

bank on August 31,1935. Any insured bank not a member of the Federal 

Reserve System was permitted to withdraw from insurance if within 30 

days after the effective date of the Act it notified the Corporation of its 

election not to continue as an insured bank. The deposits of banks withdrawing under this provision were insured for 50 days beyond the effective 

date of the Banking Act of 1935, or until October 12,1935.

Banks insured at the opening of the Temporary Federal Deposit

Insurance Fund. The Temporary Federal Deposit Insurance Fund was 

opened on January 1, 1934, with 13,201 banks insured or approved for insurance therein. Of these banks, 6,009 were members of the Federal 

Reserve System in operation and licensed under the provisions of the 

Executive Order of the President, issued March 10, 1933, and 7,192 were 

State banks not members of the Federal Reserve System.2 Remittances 

had not been received on January 1, 1934, from about 460 of the banks not 

members of the Federal Reserve System then approved for insurance, 

and these banks became insured later.3

The banks which were members of the Federal Reserve System, together 

with those not members of the Federal Reserve System which were ap­

*The Board of Directors determined that the Tem porary Federal Deposit Insurance Fund and the Fund 

for M utuals terminated at the close of business August 22, 1935.

20 f the banks members of the Federal Reserve System, 5,153 were national banks and 856 were 

State banks. These numbers differ slightly from those reported by the office of the Com ptroller of the 

Currency, and the Board of Governors of the Federal Reserve System for Decem ber 30, 1933, due to 

several successions and absorptions which took place on D ecem ber 30 and 31.

3Figures regarding num ber of banks insured in the Tem porary Federal D eposit Insurance Fund 

have been revised since publication of the Annual Report of the Federal Deposit Insurance

Corporation, 1934. '

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58 FEDERAL DEPOSIT INSURANCE CORPORATION

proved for insurance by January 1, 1934, totaling 13,202, included 90 

percent of all commercial banks, and 36 percent of the mutual savings 

banks, licensed under the Executive Order of March 10, 1933. About 

1,600 licensed commercial banks and 363 mutual savings banks had not 

made application for admission to insurance, or had not been approved 

for insurance by the Corporation.

Banks admitted to insurance, January 2, 1934, to close of temporary funds. During the period of operation of the temporary funds 

1,718 commercial banks and 24 mutual savings banks were admitted to 

insurance.

These banks were distributed as follows:

Commercial banks— total........................................................................... 1,719

Banks licensed and in operation on January 1, 1934.................... 368

Successions to, or consolidations of, banks operating January 1,

1934..... .................................................................................................. 30

Reorganizations of, or successors to, banks in conservatorship,

or operating under restrictions, or in receivership or liquidation 1,062

Banks succeeding other insured banks, new banks organized in

connection with consolidation of insured banks2.................. .. 108

Banks withdrawing from Federal Reserve System and readmitted to insurance as banks not members of the Federal

Reserve System....................................................................................... 6

Reinstatement of insured bank which reopened after suspending 1

New banks, without direct predecessors, opened after January

1, 1934......................................................................................................... 141

Banks in Alaska and Hawaii, not included above........................... 3

Mutual savings banks— total.................................................................... 24

Banks operating January 1, 1934......................................................... 21

Reorganization of bank operating under restrictions January

1 ,1 9 3 4 ......................................................................................................... 2

New bank without direct predecessor opened after January

1, 1934......................................................................................................... 1

The 1,719 commercial banks admitted included 482 national banks, 

automatically admitted to insurance when authorized by the Comptroller 

of the Currency to begin operations, and 45 State banks automatically 

admitted to insurance when they became members of the Federal Reserve 

System. The remaining 1,192 were banks not members of the Federal 

Reserve System which were examined and approved for insurance by the 

Federal Deposit Insurance Corporation.

Table 22 shows how many of these banks were admitted in 1934 and 

how many in 1935, and also gives further details regarding their classification.

1This figure does not include the banks not members of the Federal Reserve System which were 

approved for insurance in 1933, but whose assessment remittances were not received until after the Fund 

opened on January 1, 1934.

in clu d e s five banks form ed by consolidations of insured banks, which operated for a time w ithout 

insurance, and were later adm itted tojn su rance.

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MEMBERSHIP OF THE TEMPORARY FUNDS 59

Table 22. CLASSIFICATION OF BANKS ADMITTED TO INSURANCE

f r o m Ja n u a r y 2, 1934, to t h e C lo se of t h e T e m p o r a r y F u n ds

Total a d m issio n s ..........................................................

Adm issions n o t directly offset by term inations .....................................................................

Banks operating January 1, 1934...................

Banks succeeding, or consolidations of,

banks operating January 1, 1934...............

Reorganizations of, or successions to, banks

in conservatorship or operating under restrictions January 1, 19341 ............................

Reorganizations of, or successions to, banks

in receivership or liquidation January 1,

19342.........................................................................

New banks without predecessors opened

after January 1, 1934.......................................

Banks in Alaska and Hawaii not included

above........................................................................

Adm issions directly offset by term inations

Successions to other banks in same class. . .

Successions to other insured banks not in

same class..............................................................

New banks organized in connection with

consolidations.......................................................

Banks withdrawing from the Federal Reserve System and admitted to insurance

as nonmembers...................................................

Reinstatement of insured bank which had

_______ suspended................. .............................................

Total

admissions

to

tem ­

porary

fund

By years

By class of bank

Members

Federal

Reserve

System

N ot members

Federal

Reserve

System

N a ­

tional State

Commercial

M u ­

tual

sav1935 1934 ings

1,743 227 1,517 482 45 1,192 24

1,628 197 1,431 401 41 1,162 24

389 58 331 8 360 21

30 6 24 8 1 21

989 6 8 921 339 25 623 2

75 15 60 13 5 57

142 49 93 41 2 98 1

3 1 2 3

115 30 85 81 4 30

58 13 45 43 2 13

36 8 28 30 6

14 5 9 8 s2 4

6 3 3 6

1 1 1

in clu d es 1 bank licensed and in operation January 1, 1934, and subsequently placed in conservatorship.

2Includes 2 banks successors to banks which closed after January 1, 1934. 

in clu d es one State member bank formed by consolidation of four national banks.

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60 FEDERAL DEPOSIT INSURANCE CORPORATION

Banks terminating insurance during or at the close of the temporary funds. During the period of the temporary funds 725 insured 

banks discontinued operations, merged with other banks, or withdrew 

from insurance. This figure includes the banks which withdrew from 

insurance at the close of the temporary funds. These terminations were 

distributed as follows:

Commercial banks— total........................................................................... 543

Withdrawals July 1, 1934........................................................................ 21

Withdrawals at close of temporary funds......................................... 26

Withdrawals from the Federal Reserve System without continuance of insurance............................................................................ 1

Suspensions (including one bank later reopened and reinstated

to insurance)............................................................................................ 25

Net reduction on account of consolidations with other insured

banks........................................................................................................... 260

Insured banks succeeded by noninsured banks, or consolidating

with or to form noninsured banks................................................... 20

Banks succeeded by other insured banks (including cases where

new charters were issued in connection with consolidations).. 108

Banks withdrawing from Federal Reserve System (readmitted

to insurance as banks not members of the Federal Reserve

System)....................................................................................................... 6

Other banks liquidating or discontinuing banking operations... 76

Mutual savings banks— total..................................................................... 182

Withdrawals July 1, 1934........................................................................ 169

Withdrawals at close of temporary funds......................................... 8

Net reduction on account of consolidation with other insured

banks..............*........................................................................................... 5

The commercial banks terminating insurance included 216 national 

banks, 40 State banks members of the Federal Reserve System, and 287 

banks not members of the Federal Reserve System.

Table 23 shows how many terminations occurred during 1934 and how 

many during 1935, and also gives further details regarding their classification.

Banks transferred to permanent insurance. The permanent insurance plan went into effect on August 23, 1935, with 14,219 operating 

banks insured under its provisions. Table 24 gives a brief summary of the 

number of banks insured at the beginning of the temporary plan and at 

the beginning of insurance under the permanent plan.

Operating banks insured in the temporary insurance funds by

States. Table 25 shows the number of banks insured in each State at the 

beginning of the temporary insurance plan and at the beginning of the 

permanent plan.

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MEMBERSHIP OF THE TEMPORARY FUNDS 61

T a b le 23. CLASSIFICATION OF BANKS TERMINATING INSURANCE 

D u r in g o r a t t h e C l o se of t h e T e m p o r a r y F u n ds

T ota l te r m in a tio n s .

T e rm in atio n s n o t directly offset by a d ­

m issions .....................................................................

Withdrawals from insurance.............................

Suspensions (excluding one reopened)..........

Consolidations with other insured banks—

net reduction........................................................

Insured banks consolidating with or to form

noninsured banks, or succeeded by noninsured banks.......................................................

Other banks liquidating or discontinuing

banking operations............................................

T e rm in atio n s directly offset by adm issions

Successions by another bank in same class.

Successions by other insured banks not in

same class..............................................................

Outgoing banks (in addition to net reduction) in consolidations with nevy

charters...................................................................

Banks withdrawing from Federal Reserve

System and readmitted to insurance as

nonmembers..........................................................

Suspended bank which was reopened and

reinstated...............................................................

Total

terminations

725

610

225

24

265

115

58

By years

1935 1934

225

395

34

15

95

11

40

30

13

500

415

191

9

170

9

36

B y class of bank

Members

Federal

Reserve

System

N a ­

tional

216

159

' " 4

113

14

28

57

43

1 9

State

13

21

3

12

Not Members

Federal

Reserve

System

Commercial

287

250

47

20

134

6

43

19

M u ­

tual

savings

185

182

177

1 Includes four national banks consolidated to form a State bank member of the Federal Reserve 

System.

T a b le 24. OPERATING BANKS INSURED AT THE BEGINNING OF THE

T e m p o r a r y F e d e r a l D e p o s it I n su r a n c e P l a n a n d a t th e

B e g in n in g of th e P e r m a n e n t P l a n

Number

insured

January 1,

19341

Number

insured

August 23,

19352

Net

change

All insured b a n k s...........................................................................................

Members Federal Reserve System:

N ational.......................................................................................................

State ...............................................................................................................

N ot members Federal Reserve System :

Commercial.................................................................................................

Mutual savings banks...........................................................................

13,201

5,153

856

6,978

214

14,219

5,419

990

47,754

56

+1,0 1 8

+266

+ 3134

+ 3776

-1 5 8

1 Includes about 460 banks not members of the Federal Reserve System from which assessment 

remittances were not received until after January 1, 1934.

2 Excludes banks which withdrew at the close of the temporary fund. Deposits in one of the withdrawing banks were insured until August 30, 1935, and in the others until October 12, 1935.

3 Makes allowance for 129 insured banks admitted to membership in the Federal Reserve System.

4 Includes two national banks in Alaska not members of the Federal Reserve System.

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T ab le 25. NUMBER OF OPERATING BANKS INSURED AT THE BEGINNING

o f t h e T e m p o r a r y F e d e r a l D e p o s i t I n s u r a n c e P l a n a n d a t t h e

B e g i n n i n g o f t h e P e r m a n e n t P l a n

BY STATES AND POSSESSIONS

January 1, 1934

Members

Federal

Reserve

System

U. S. and possessions— T o ta l.

S ta te s— to ta l..............................

Alabam a. .

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 .

Michigan. . .

Minnesota. .

M ississippi.

M issouri. . .

Montana . .

Oregon................

Pennsylvania. .

Rhode Island . .

South Carolina.

South D ak ota..

Tennessee.

Texas..........

U ta h...........

Verm ont. .

Virginia. . .

W ashington. .

W est Virginia.

W isconsin. . . .

W yom ing. . . .

Possessions—-t o ta l.

Alaska.

Hawaii.

Nebraska.......................................................j 128

N evad a................................................

New Hampshire........................................

New Jersey.................................................. j 225

New M exico......................................

New York...........................................

North Cai-olina.................................

North D akota..................................

Ohio.......................................................

Oklahoma...........................................

Na- |

tional j

State

Com ­

mercial

5,153 856 6,978

5,153 856 6,978

69 17 111

8 4 3

46 10 139

134 12 115

74 4 55

54 6 48

15 4 24

9 2 10

46 3 87

50 26 175

25 ! 8 25

263 64 504

113 5 317

106 22 298

195 11 142

92 7 275

26 3 112

40 6 17

59 6 100

133 | 22 51

70 57 207

205 ! 13 425

| 24 3 173

| 86 44 424

| 47 17 58

I 128 7 180

! 7 3

: 52 1 4

1 225 52 96

! 25 2 14

| 443 106 200

| 40 10 171

| 68 125

! 227 51 344

217 1 169

51 4 42

642 68 262

10 2 2

16 4 58

63 20 127

69 4 235

445 49 307

14

40

17 29

129 23 159

67 25 91

70 15 71

91 12 364

25 7 30

N ot members

Federal

Reserve

System

214

135

August 23, 1935

Members

Federal

Reserve

System

N a -, State tional

5.419

5.419

69

7

51

124

81

54 !

16 |

9 :

51

57

24

295

125

120 

191

100 | 

30 |

40

63

129

85

205

25

87

46 [

137 !

6

52 1 

237

23

459

44

66 i 

251

215

50

709 |

12 ! 

20 |

58 |

I

73 |

456 !

13 j

4 3 :

132

67

79 j

106

26 :

990

990

18

3

7

16

5

6

4

2

3

25

10

64

6

25

16

9

4

6

10

31

88

15

3

51

20

1

53

3

119

10

N ot members

Federal

Reserve

System

Commer- Mutual

cial savings

7,754

7,751

120

5

156

106

55

45

25

11

93

174

24

503

368

434

247

286

114

16

111

40

278

426

171

508

52

230

3

3

102

14

190

181

125

367

173

43

302

2

87

123

238

305

27

33

166

93

72

479

25

56

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Federal Reserve Bank of St. Louis
MEMBERSHIP OF THE TEMPORARY FUNDS 63

Suspensions of banks insured in the temporary funds. During 

the period of operation of the temporary funds 25 insured banks suspended. 

One of these was reopened with no payments made to depositors by the 

Federal Deposit Insurance Corporation. The deposits in the 24 suspended banks placed in receivership amounted to $5,500,000, of which 25 

percent were protected by offset, security or preferment, and an additional 

68 percent were protected by insurance. Only 7 percent of the deposits were uninsured, unsecured, not preferred,or not subject to offset and 

thus only protected by general claims against the assets of the banks.

The total number of depositors in these 24 banks was 34,601, of whom 

all but 63 were fully protected by insurance, or by offset, security, or preferment. By the end of December 31, 1935, the claims of 80 percent of 

these depositors had been paid or settled.

The deposits paid by the Corporation up toDecember 31,1935, amounted 

to $3,500,000. An additional $230,000 due depositors from the Corporation was unpaid on account of failure of the depositors to file or prove 

their claims.

Further details regarding the deposits and depositors in these banks 

are given in Table 26.

Table 26. DEPOSITORS’ CLAIM S AGAINST 24 INSURED B AN K S W H IC H

S u s p e n d e d D u r i n g t h e P e r i o d o f O p e r a t i o n o f t h e T e m p o r a r y

F e d e r a l D e p o s i t I n s u r a n c e F u n d s

Total

Paid by

December

31, 19351

N ot paid by

December

31, 1935

T o ta l d e p o sits................................................................................................... $5,487,791

5,102,675

3,773,401

988,491

340.783

385,116

34,601

34,538

63

$4,736,792

4,682,491

3,542,632

853,602

286,257

54,301

327,778

$750,999

420,184

230,769

134,889

54,526

330,815

6,823

Protected by insurance, security, preferm ent or o ffset..

Insured2 ........................................................................................................

Secured or preferred................................................................................

Subject to offset.........................................................................................

N ot protected by insu ran ce.secu rity ,preferm en t,or offset

T ota l n u m b e r of d e p osito rs...................................................................

Fu lly protected by insurance or otherwise..................................

Partially protected..................................................................................

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

2 Excluding deposits protected by security, preferment, or offset.

8 Of these 2,296 were paid by offsets.

By December 31, 1935, the Federal Deposit Insurance Corporation had 

received $528,533 from the receivers or liquidators of these banks. It is 

expected that about 65 percent of the amount paid by the Corporation 

to insured depositors will be recovered upon completion of liquidation 

of the assets of the suspended banks.

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

Amount of deposits insured at the beginning and at the close of

the temporary insurance funds. Precise information is not available 

as to the volume of deposits protected by insurance either at the beginning 

or at the close of the temporary insurance funds. It is estimated, 

however, that on January 1, 1934, insured deposits in commercial banks 

amounted approximately to $11 billion and uninsured deposits in insured 

banks to $20 billion. It is estimated that at the close of the temporary 

funds insured deposits amounted approximately to $17 billion and 

uninsured deposits in insured commercial banks to $24 billion. About 

half of the growth in insured deposits resulted from the change in coverage 

from $2,500 to $5,000 for each depositor and from the admission of banks 

to insurance. The other half was chiefly the result of the growth in the 

total volume of deposits. The growth in uninsured deposits was almost 

wholly due to the growth in the total volume of deposits.

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Federal Reserve Bank of St. Louis
PART FOUR

LEGISLATION, REGULATIONS, AND INSTRUCTIONS

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Federal Reserve Bank of St. Louis
DEPOSIT INSURANCE LEGISLATION

E X T E N S IO N OF T H E T E M P O R A R Y FU N D S

[Public R eso lu tio n— N o. 38— 74th C o ngress]

[S. J. R e s . 152]

JOINT r e s o l u t i o n

T o extend to August 31, 1935, the tem porary plan for deposit insurance provided for by Section 

12B of the Federal Reserve Act, as amended.

R esolved b y th e Se n a t e an d H ouse of R epr ese n tativ e s of th e U n ited

States of A m erica in C ongress asse m bled , That Section 12B of the Federal

Reserve A ct, as amended, is amended (1) by striking “ July 1, 1935” wherever it

appears in subsections (e), (1) and (y), and inserting in lieu thereof “ August 31,

1935” ; and (2) by striking “ June 30, 1935” where it appears in the first sentence

of the eighth paragraph of subsection (y) and inserting in lieu thereof “ August 31,

1935” ; and (3) by adding to subsection (y) the following additional paragraph:

“ The deposits in banks which are on June 30, 1935, members of the fund or the

fund for mutuals shall continue to be insured during such extended period to August

31, 1935, without liability on the part of such banks to further calls or assessment.”

Approved, June 28, 1935.

67

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

SE C T IO N 12B OF T H E FE D ER AL R ESE R V E A C T AS

A M E N D E D B Y T IT L E I OF T H E B A N K IN G A C T OF 1935

[P ublic— No. 305— 74th C ongress]

[H. R. 7617]

S ectio n 101. Section 12B of the Federal Reserve Act, as amended (U. S. C.,

Supp. VII, title 12, sec. 264), is amended to read as follows:

Federal Deposit Insurance Corporation created

Sec. 12B. (a) There is hereby created a Federal Deposit Insurance Corporation

(hereinafter referred to as the “ Corporation” ) which shall insure, as hereinafter

provided, the deposits of all banks which are entitled to the benefits of insurance

under this section, and which shall have the powers hereinafter granted.

Management of the Corporation

(b) The management of the Corporation shall be vested in a board of directors

consisting of three members, one of whom shall be the Comptroller of the Currency,

and two of whom shall be citizens of the United States to be appointed by the

President, by and with the advice and consent of the Senate. One of the appointive

members shall be the chairman of the board of directors of the Corporation and not

more than two of the members of such board of directors shall be members of the

same political party. Each such appointive member shall hold office for a term of

six years and shall receive compensation at the rate of $10,000 per annum, payable

monthly out of the funds of the Corporation, but the Comptroller of the Currency

shall not receive additional compensation for his services as such member. In the

event of a vacancy in the office of the Comptroller of the Currency, and pending

the appointment of his successor, or during the absence of the Comptroller from

Washington, the Acting Comptroller of the Currency shall be a member of the

board of directors in the place and stead of the Comptroller. In the event of a

vacancy in the office of the chairman of the board of directors, and pending the

appointment of his successor, the Comptroller of the Currency shall act as chairman.

The Comptroller of the Currency shall be ineligible during the time he is in office

and for two years thereafter to hold any office, position, or employment in any insured

bank. The appointive members of the board of directors shall be ineligible during

the time they are in office and for two years thereafter to hold any office, position,

or employment in any insured bank, except that this restriction shall not apply to

any appointive member who has served the full term for which he was appointed.

No member of the board of directors shall be an officer or director of any bank,

banking institution, trust company, or Federal Reserve bank or hold stock in any

bank, banking institution, or trust company; and before entering upon his duties

as a member of the board of directors he shall certify under oath that he has complied

with this requirement and such certification shall be filed with the secretary of the

board of directors. No member of the board of directors serving on the board of

directors on the effective date shall be subject to any of the provisions of the three

preceding sentences until the expiration of his present term of office.

Definitions

(c) As used in this section—

(1) The term “ State bank” means any bank, banking association, trust company,

savings bank, or other banking institution which is engaged in the business of

receiving deposits and which is incorporated under the laws of any State, Hawaii,

Alaska, Puerto Rico, or the Virgin Islands, or which is operating under the Code

of Law for the District of Columbia (except a national bank), and includes any

unincorporated bank the deposits of which are insured on the effective date under

the provisions of this section.

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REVISED DEPOSIT INSURANCE LAW 69

(2) The term “ State member bank” means any State bank which is a member

of the Federal Reserve System, and the term “ State nonmember bank” means any

State bank which is not a member of the Federal Reserve System.

(3) The term “ District bank” means any State bank operating under the Code

of Law for the District of Columbia.

(4) The term “national member bank” means any national bank located in any

of the States of the United States, the District of Columbia, Hawaii, Alaska, Puerto

Rico, or the Virgin Islands which is a member of the Federal Reserve System.

(5) The term “ national nonmember bank” means any national bank located in

Hawaii, Alaska, Puerto Rico, or the Virgin Islands which is not a member of the

Federal Reserve System.

(6) The term “ mutual savings bank” means a bank without capital stock transacting a savings bank business, the net earnings of which inure wholly to the benefit

of its depositors after payment of obligations for any advances by its organizers.

(7) The term “ savings bank” means a bank (other than a mutual savings bank)

which transacts its ordinary banking business strictly as a savings bank under State

laws imposing special requirements on such banks governing the manner of investing their funds and of conducting their business: Provided, That the bank

maintains, until maturity date or until withdrawn, all deposits made with it (other

than funds held by it in a fiduciary capacity) as time savings deposits of the specific

term type or of the type where the right is reserved to the bank to require written

notice before permitting withdrawal: Provided further, That such bank to be considered a savings bank must elect to become subject to regulations of the Corporation

with respect to the redeposit of maturing deposits and prohibiting withdrawal of

deposits by checking except in cases where such withdrawal is permitted by law on

the effective date from specifically designated deposit accounts totaling not more

than 15 per centum of the bank’s total deposits.

(8) The term “ insured bank” means any bank the deposits of which are insured

in accordance with the provisions of this section; and the term “ noninsured bank”

means any bank the deposits of which are not so insured.

(9) The term “ new bank” means a new national banking association organized

by the Corporation to assume the insured deposits of an insured bank closed on

account of inability to meet the demands of its depositors and otherwise to perform

temporarily the functions prescribed in this section.

(10) The term “ receiver” includes a receiver, liquidating agent, conservator,

commission, person, or other agency charged by law with the duty of winding up

the affairs of a bank.

(11) The term “ board of directors” means the board of directors of the Corporation.

(12) The term “ deposit” means the unpaid balance of money or its equivalent

received by a bank in the usual course of business and for which it has given or is

obligated to give credit to a commercial, checking, savings, time, or thrift account, or

which is evidenced by its certificate of deposit, and trust funds held by such bank

whether retained or deposited in any department of such bank or deposited in

another bank, together with such other obligations of a bank as the board of directors

shall find and shall prescribe by its regulations to be deposit liabilities by general

usage: Provided, That any obligation of a bank which is payable only at an office

of the bank located outside the States of the United States, the District of Columbia,

Hawaii, Alaska, Puerto Rico, and the Virgin Islands, shall not be a deposit for any

of the purposes of this section or be included as a part of total deposits or of an

insured deposit: Provided further, That any insured bank having its principal place

of business in any of the States of the United States or in the District of Columbia

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70 FEDERAL DEPOSIT INSURANCE CORPORATION

which maintains a branch in Hawaii, Alaska, Puerto Rico, or the Virgin Islands

may elect to exclude from insurance under this section its deposit obligations which

are payable only at such branch, and upon so electing the insured bank with respect

to such branch shall comply with the provisions of this section applicable to the

termination of insurance by nonmember banks: Provided further, That the bank

may elect to restore the insurance to such deposits at any time its capital stock is

unimpaired.

(13) The term “ insured deposit” means the net amount due to any depositor

for deposits in an insured bank (after deducting offsets) less any part thereof which

is in excess of $5,000. Such net amount shall be determined according to such regulations as the board of directors may prescribe, and in determining the amount

due to any depositor there shall be added together all deposits in the bank maintained in the same capacity and the same right for his benefit either in his own name

or in the names of others, except trust funds which shall be insured as provided in

paragraph (9) of subsection (h) of this section.

(14) The term “transferred deposit” means a deposit in a new bank or other

insured bank made available to a depositor by the Corporation as payment of the

insured deposit of such depositor in a closed bank, and assumed by such new bank

or other insured bank.

(15) 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.

(16) The term “ effective date” means the date of enactment of the Banking Act

of 1935.*

Capital stock of the Corporation

(d) There is hereby authorized to be appropriated, out of any money in the

Treasury not otherwise appropriated, the sum of $150,000,000, which shall be available for payment by the Secretary of the Treasury for capital stock of the Corporation in an equal amount, which shall be subscribed for by him on behalf of the

United States. Payments upon such subscription shall be subject to call in whole

or in part by the board of directors of the Corporation. Such stock shall be in

addition to the amount of capital stock required to be subscribed for by Federal

Reserve banks. Receipts for payments by the United States for or on account of

such stock shall be issued by the Corporation to the Secretary of the Treasury and

shall be evidence of the stock ownership of the United States. Every Federal

Reserve bank shall subscribe to shares of stock in the Corporation to an amount

equal to one-half of the surplus of such bank on January 1, 1933, and its subscriptions shall be accompanied by a certified check payable to the Corporation in an

amount equal to one-half of such subscription. The remainder of such subscription

shall be subject to call from time to time by the board of directors upon ninety days’

notice. The capital stock of the Corporation shall consist of the shares subscribed

for prior to the effective date. Such stock shall be without nominal or par value,

and shares issued prior to the effective date shall be exchanged and reissued at the

rate of one share for each $100 paid into the Corporation for capital stock. The

consideration received by the Corporation for the capital stock shall be allocated to

capital and to surplus in such amounts as the board of directors shall prescribe.

Such stock shall have no vote and shall not be entitled to the payment of dividends.

Insurance for member banks of the Federal Reserve System

(e) (1) Every operating State or national member bank, including a bank incorporated since March 10,1933, licensed on or before the effective date by the SeC-

^The “ effective date” is August 23, 1935, when the Act was approved by the President.

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Federal Reserve Bank of St. Louis
REVISED DEPOSIT INSURANCE LAW 71

retary of the Treasury shall be and continue to be, without application or approval,

an insured bank and shall be subject to the provisions of this section.

(2) After the effective date, every national member bank which is authorized to

commence or resume the business of banking, and every State bank which is converted into a national member bank or which becomes a member of the Federal

Reserve System, shall be an insured bank from the time it is authorized to commence

or resume business or becomes a member of the Federal Reserve System. The

certificate herein prescribed shall be issued to the Corporation by the Comptroller

of the Currency in the case of such national member bank, or by the Board of Governors of the Federal Reserve System in the case of such State member bank:

Provided, That in the case of an insured bank which is admitted to membership in

the Federal Reserve System or an insured State bank which is converted into a

national member bank, such certificate shall not be required, and the bank shall

continue as an insured bank. Such certificate shall state that the bank is authorized

to transact the business of banking in the case of a national member bank, or is a

member of the Federal Reserve System in the case of a State member bank, and

that consideration has been given to the factors enumerated in subsection (g) of

this section.

Insurance for banks not members of the Federal Reserve System

(f) (1) Every bank which is not a member of the Federal Reserve System which

on June 30,1935, was or thereafter became a member of the Temporary Federal

Deposit Insurance Fund or of the Fund For Mutuals heretofore created pursuant

to the provisions of this section, shall be and continue to be, without application or

approval, an insured bank and shall be subject to the provisions of this section:

Provided, That any State nonmember bank which was admitted to the said Temporary Federal Deposit Insurance Fund or the Fund For Mutuals but which did

not file on or before the effective date an October 1, 1934, certified statement and

make the payments thereon required by law, shall cease to be an insured bank on

August 31, 1935: Provided further, That no bank admitted to the said Temporary

Federal Deposit Insurance Fund or the Fund For Mutuals prior to the effective

date shall, after August 31, 1935, be an insured bank or have its deposits insured by

the Corporation, if such bank shall have permanently discontinued its banking

operations prior to the effective date.

(2) Subject to the provisions of this section, any national nonmember bank,

upon application by the bank and certification by the Comptroller of the Currency

in the manner prescribed in subsection (e) of this section, and any State nonmember

bank, upon application to and examination by the Corporation and approval by

the board of directors, may become an insured bank. Before approving the application of any such State nonmember bank, the board of directors shall give consideration to the factors enumerated in subsection (g) of this section and shall determine,

upon the basis of a thorough examination of such bank, that its assets in excess of

its capital requirements are adequate to enable it to meet all its liabilities to depositors and other creditors as shown by the books of the bank.

Factors and qualifications for insurance to be considered in the case of new

applications

(g) The factors to be enumerated in the certificate required under subsection (e)

and to be considered by the board of directors under subsection (f) shall be the

following: The financial history and condition of the bank, the adequacy of its

capital structure, its future earnings prospects, the general character of its management, the convenience and needs of the community to be served by the bank, and

whether or not its corporate powers are consistent with the purposes of this section.

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72 FEDERAL DEPOSIT INSURANCE CORPORATION

Payment of assessments

(h) (1) The assessment rate shall be one-twelfth of 1 per centum per annum.

The semiannual assessment for each insured bank shall be in the amount of the

product of one-half the annual assessment rate multiplied by an assessment base

which shall be the average for six months of the differences at the end of each

calendar day between the total amount of liability of the bank for deposits (according

to the definition of the term “ deposit” in and pursuant to paragraph (12) of subsection (c) of this section, without any deduction for indebtedness of depositors)

and the total of such uncollected items as are included in such deposits and credited

subject to final payment: Provided, however, That the daily total of such uncollected

items shall be determined according to regulations prescribed by the board of directors upon a consideration of the factors of general usage and ordinary time of availability, and for the purposes of such deduction no item shall be regarded as uncollected for longer periods than those prescribed by such regulations. Each

insured bank shall, as a condition to the right to deduct any specific uncollected

item in determining its assessment base, maintain such records as will readily permit

verification of the correctness of the particular deduction claimed. The certified

statements required to be filed with the Corporation under paragraphs (2), (3), and

(4) of this subsection shall be in such form and set forth such supporting information

as the board of directors shall prescribe. The assessment payments required from

insured banks under paragraphs (2), (3), and (4) of this subsection shall be made in

such manner and at such time or times as the board of directors shall prescribe,

provided the time or times so prescribed shall not be later than sixty days after

filing the certified statement setting forth the amount of the assessment. In the

event that a separate Fund For Mutuals is established as provided in subsection

(1), the board of directors from time to time may fix a lower assessment rate operative

for such period as the board may determine which shall be applicable to insured

mutual savings banks only, and the remainder of this paragraph shall not be applicable to such banks.

(2) On or before the 15th day of July of each year, each insured bank shall file

with the Corporation a certified statement under oath showing for the six months

ending on the preceding June 30 the amount of the assessment base and the amount

of the semiannual assessment due to the Corporation, determined in accordance

with paragraph (1) of this subsection. Each insured bank shall pay to the Corporation the amount of the semiannual assessment it is required to certify. On or

before the 15th day of January of each year after 1936 each insured bank shall file

with the Corporation a similar certified statement for the six months ending on the

preceding December 31 and shall pay to the Corporation the amount of the semiannual assessment it is required to certify.

(3) Each bank which becomes an insured bank according to the provisions of

subsection (e) or (f) of this section shall, on or before the 15th day of November

1935, file with the Corporation a certified statement under oath showing the amount

of the assessment due to the Corporation for the period ending December 31, 1935,

which shall be an amount equal to the product of one-third the annual assessment

rate multiplied by the assessment base determined in accordance with paragraph

(1) of this subsection, except that the assessment base shall be the average for the

31 days in the month of October 1935, and payment shall be made to the Corporation of the amount of the assessment so required to be certified. Each such bank

shall, on or before the 15th day of January 1936, file with the Corporation a certified

statement under oath showing the amount of the semiannual assessment due to the

Corporation for the period ending June 30, 1936, which shall be an amount equal

to the product of one-half the annual assessment rate multiplied by the assessment

base determined in accordance with paragraph (1) of this subsection, except that

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REVISED DEPOSIT INSURANCE LAW 73

the assessment base shall be the average for the days of the months of October,

November and December of 1935, and payment shall be made to the Corporation

of the amount of the assessment so required to be certified.

(4) Each bank which becomes an insured bank after the effective date shall be

relieved from complying with the provisions of paragraph (2) of this subsection

until it has operated as an insured bank for a full semi-annual period ending on

June 30 or December 31 as the case may be. Each such bank, on or before the

forty-fifth day after its first day of operation as an insured bank, shall file with the

Corporation its first certified statement which shall be under oath and shall show

the amount of the assessment base determined in accordance with paragraph (1)

of this subsection, except that the assessment base shall be the average for the first

thirty-one calendar days it operates as an insured bank. Each such certified statement shall also show as the amount of the first assessment due to the Corporation

the pro-rated portion (for the period between its first day of operation as an insured

bank and the next succeeding last day of June or December, as the case may be)

of an amount equal to the product of one-half the annual assessment rate multiplied

by the base required to be set forth on its first certified statement. Each bank which

becomes an insured bank after the effective date which has not operated as an insured

bank for a full semiannual period ending on June 30 or December 31, as the case

may be, shall, on or before the 15th day of the first month thereafter (except that

banks becoming insured in June or December shall have thirty-one additional days)

file with the Corporation its second certified statement under oath showing the

amount of the assessment base and the amount of the semiannual assessment due

to the Corporation. Such assessment base and amount shall be determined in

accordance with paragraph (1) of this subsection, except that if the bank became

an insured bank in the month of December or June the assessment base shall be the

average for the first thirty-one calendar days it operates as an insured bank, and

except that if it became an insured bank in any other month than December or June

the assessment base shall be the average for the days between its first day of operation as an insured bank and the next succeeding last day of June or December, as

the case may be. Each bank required to file a certified statement under this paragraph shall pay to the Corporation the amount of the assessment the bank is

required to certify.

(5) Each bank which shall be and continue without application or approval an

insured bank in accordance with the provisions of subsection (e) or (f) of this section,

shall, in lieu of all right to refund [except as authorized in paragraph (3) of subsection (i)], be credited with any balance to which such bank shall become entitled

upon the termination of the said Temporary Federal Deposit Insurance Fund or

the Fund For Mutuals. The credit shall be applied by the Corporation toward the

payment of the assessment next becoming due from such bank and upon succeeding

assessments until the credit is exhausted.

(6) Any insured bank which fails to file any certified statement required to be

filed by it in connection with determining the amount of any assessment payable

by the bank to the Corporation may be compelled to file such statement by mandatory injunction or other appropriate remedy in a suit brought for such purpose

by the Corporation against the bank and any officer or officers thereof in any court

of the United States of competent jurisdiction in the district or territory in which

such bank is located.

(7) The Corporation, in a suit brought at law or in equity in any court of competent jurisdiction, shall be entitled to recover from any insured bank the amount of

any unpaid assessment lawfully payable by such insured bank to the Corporation,

whether or not such bank shall have filed any such certified statement and whether

or not suit shall have been brought to compel the bank to file any such statement.

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(8) Should any national member bank or any insured national nonmember bank

fail to file any certified statement required to be filed by such bank under any

provision of this subsection, or fail to pay any assessment required to be paid by

such bank under any provision of this section, and should the bank not correct such

failure within thirty days after written notice has been given by the Corporation to

an officer of the bank, citing this paragraph, and stating that the bank has failed

to file or pay as required by law, all the rights, privileges, and franchises of the bank

granted to it under the National Bank Act or under the provisions of this Act, as

amended, shall be thereby forfeited. Whether or not the penalty provided in this

paragraph has been incurred shall be determined and adjudged in the manner provided in the sixth paragraph of section 2 of this Act, as amended. The remedies

provided in this paragraph and in the two preceding paragraphs shall not be construed as limiting any other remedies against any insured bank, but shall be in

addition thereto.

(9) Trust funds held by an insured bank in a fiduciary capacity whether held in

its trust or deposited in any other department or in another bank shall be insured

in an amount not to exceed $5,000 for each trust estate, and when deposited by the

fiduciary bank in another insured bank such trust funds shall be similarly insured

to the fiduciary bank according to the trust estates represented. Notwithstanding

any other provision of this section, such insurance shall be separate from and additional to that covering other deposits of the owners of such trust funds or the

beneficiaries of such trust estates: Provided, That where the fiduciary bank deposits

any of such trust funds in other insured banks, the amount so held by other insured

banks on deposit shall not for the purpose of any certified statement required under

paragraph (2), (3), or (4) of this subsection be considered to be a deposit liability

of the fiduciary bank, but shall be considered to be a deposit liability of the bank in

which such funds are so deposited by such fiduciary bank. The board of directors

shall have power by regulation to prescribe the manner of reporting and of depositing

such trust funds.

Termination of insured bank status

(i) (1) Any insured bank (except a national member bank or State member bank)

may, upon not less than ninety days' written notice to the Corporation, and to the

Reconstruction Finance Corporation if it owns or holds as pledgee any preferred

stock, capital notes, or debentures of such bank, terminate its status as an insured

bank. Whenever the board of directors shall find that an insured bank or its

directors or trustees have continued unsafe or unsound practices in conducting the

business of such bank, or have knowingly or negligently permitted any of its officers

or agents to violate any provision of any law or regulation to which the insured

bank is subject, the board of directors shall first give to the Comptroller of the

Currency in the case of a national bank or a District bank, to the authority having

supervision of the bank in the case of a State bank, or to the Board of Governors

of the Federal Reserve System in the case of a State member bank, a statement with

respect to such practices or violations for the purpose of securing the correction

thereof. Unless such correction shall be made within one hundred and twenty days

or such shorter period of time as the Comptroller of the Currency, the State authority, or Board of Governors of the Federal Reserve System, as the case may be, shall

require, the board of directors, if it shall determine to proceed further, shall give to

the bank not less than thirty days' written notice of intention to terminate the

status of the bank as an insured bank, and shall fix a time and place for a hearing

before the board of directors or before a person designated by it to conduct such

hearing, at which evidence may be produced, and upon such evidence the board of

directors shall make written findings which shall be conclusive. Unless the bank

shall appear at the hearing by a duly authorized representative, it shall be deemed

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to have consented to the termination of its status as an insured bank. If the board

of directors shall find that any violation specified in such notice has been established

the board of directors may order that the insured status of the bank be terminated

on a date subsequent to such finding and to the expiration of the time specified in

such notice of intention. The Corporation may publish notice of such termination

and the bank shall give notice of such termination to each of its depositors at his

last address of record on the books of the bank, in such manner and at such time as

the board of directors may find to be necessary and may order for the protection of

depositors. After the termination of the insured status of any bank under the

provisions of this paragraph, the insured deposits of each depositor in the bank on

the date of such termination, less all subsequent withdrawals from any deposits of

such depositor, shall continue for a period of two years to be insured, and the bank

shall continue to pay to the Corporation assessments as in the case of an insured

bank during such period. No additions to any such deposits and no new deposits

in such bank made after the date of such termination shall be insured by the Corporation, and the bank shall not advertise or hold itself out as having insured deposits

unless in the same connection it shall also state with equal prominence that such

additions to deposits and new deposits made after such date are not so insured.

Such bank shall, in all other respects, be subject to the duties and obligations of

an insured bank for the period of two years from the date of such termination, and

in the event that such bank shall be closed on account of inability to meet the demands of its depositors within such period of two years, the Corporation shall have

the same powers and rights with respect to such bank as in case of an insured bank.

(2) Whenever the insured status of a State member bank shall be terminated by

action of the board of directors, the Board of Governors of the Federal Reserve

System shall terminate its membership in the Federal Reserve System in accordance

with the provisions of section 9 of this Act, and whenever the insured status of a

national member bank shall be so terminated the Comptroller of the Currency shall

appoint a receiver for the bank, which shall be the Corporation whenever the bank

shall be unable to meet the demands of its depositors. Whenever a member bank

shall cease to be a member of the Federal Reserve System, its status as an insured

bank shall, without notice or other action by the board of directors, terminate on

the date the bank shall cease to be a member of the Federal Reserve System, with

like effect as if its insured status had been terminated on said date by the board of

directors after proceedings under paragraph (1) of this subsection.

(3) If any nonmember bank which becomes an insured bank under the provisions

of paragraph (1) of subsection (f) of this section shall elect, within thirty days after

the effective date, not to continue as an insured bank, and shall within such period

give written notice to the Corporation of its election, in accordance with regulations

to be prescribed by the board of directors, and to the Reconstruction Finance Corporation if it owns or holds as pledgee any preferred stock, capital notes, or debentures of such bank, it shall cease to be an insured bank and cease to be subject to

the provisions of this section and the rights of the bank (including its right to any

refund) shall be as provided by law existing prior to the effective date. The board

of directors shall cause notice of termination of insurance to be given to the depositors

of such bank by publication or otherwise as the board of directors may determine,

and the deposits in such bank shall continue to be insured for twenty days beyond

such thirty day period.

(4) Whenever the liabilities of an insured bank for deposits shall have been

assumed by another insured bank or banks, the insured status of the bank whose

liabilities are so assumed shall terminate on the date of receipt by the Corporation of

satisfactory evidence of such assumption with like effect as if its insured status

had been terminated on said date by the board of directors after proceedings under

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paragraph (1) of this subsection: Provided, That if the bank whose liabilities are

so assumed gives to its depositors notice of such assumption within thirty days after

such assumption takes effect, by publication or by any reasonable means, in accordance with regulations to be prescribed by the board of directors, the insurance

of its deposits shall terminate at the end of six months from the date such assumption takes effect, and such bank shall thereupon be relieved of all future obligations

to the Corporation, including the obligation to pay future assessments.

Powers of the Corporation

(j) Upon the date of enactment of the Banking Act of 1933, the Corporation

shall become a body corporate and as such shall have power—

First. To adopt and use a corporate seal.

Second. To have succession until dissolved by an Act of Congress.

Third. To make contracts.

Fourth. To sue and be sued, complain and defend, in any court of law or equity,

State or Federal. All suits of a civil nature at common law or in equity to which the

Corporation shall be a party shall be deemed to arise under the laws of the United

States: Provided, That any such suit to which the Corporation is a party in its

capacity as receiver of a State bank and which involves only the rights or obligations of depositors, creditors, stockholders, and such State bank under State law

shall not be deemed to arise under the laws of the United States. No attachment

or execution shall be issued against the Corporation or its property before final

judgment in any suit, action, or proceeding in any State, county, municipal, or

United States court. The board of directors shall designate an agent upon whom

service of process may be made in any State, Territory, or jurisdiction in which

any insured bank is located.

Fifth. To appoint by its board of directors such officers and employees as are

not otherwise provided for in this section, to define their duties, fix their compensation, require bonds of them and fix the penalty thereof, and to dismiss at pleasure

such officers or employees. Nothing in this or any other Act shall be construed

to prevent the appointment and compensation as an officer or employee of the

Corporation of any officer or employee of the United States in any board, commission, independent establishment, or executive department thereof.

Sixth. To prescribe by its board of directors, bylaws not inconsistent with law,

regulating the manner in which its general business may be conducted, and the

privileges granted to it by law may be exercised and enjoyed.

Seventh. To exercise by its board of directors, or duly authorized officers or

agents, all powers specifically granted by the provisions of this section and such

incidental powers as shall be necessary to carry out the powers so granted.

Eighth. To make examinations of and to require information and reports from

banks, as provided in this section.

Ninth. To act as receiver.

Tenth. To prescribe by its board of directors such rules and regulations as it may

deem necessary to carry out the provisions of this section.

Administrative matters

(k) (1) The board of directors shall administer the affairs of the Corporation

fairly and impartially and without discrimination. The board of directors of the

Corporation shall determine and prescribe the manner in which its obligations

shall be incurred and its expenses allowed and paid. The Corporation shall be

entitled to the free use of the United States mails in the same manner as the executive

departments of the Government. The Corporation with the consent of any Federal

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Reserve bank or of any board, commission, independent establishment, or executive

department of the Government, including any field service thereof, may avail itself

of the use of information, services, and facilities thereof in carrying out the provisions of this section.

(2) The board of directors shall appoint examiners who shall have power, on

behalf of the Corporation, to examine any insured State nonmember bank (except

a District bank), any State nonmember bank making application to become an

insured bank, and any closed insured bank, whenever in the judgment of the board

of directors an examination of the bank is necessary. Such examiners shall have

like power to examine, with the written consent of the Comptroller of the Currency,

any national bank or District bank, and, with the written consent of the Board of

Governors of the Federal Reserve System, any State member bank. Each such

examiner shall have power to make a thorough examination of all the affairs of the

bank and in doing so he shall have power to administer oaths and to examine and take

and preserve the testimony of any of the officers and agents thereof, and shall make

a full and detailed report of the condition of the bank to the Corporation. The

board of directors in like manner shall appoint claim agents who shall have power

to investigate and examine all claims for insured deposits and transferred deposits.

Each claim agent shall have power to administer oaths and to examine under oath

and take and preserve the testimony of any persons relating to such claims. The

provisions of sections 184 to 186 (both inclusive) of the Revised Statutes (U. S. C.,

title 5, secs. 94 to 96) are hereby extended to examinations and investigations

authorized by this paragraph.

(3) Each insured State nonmember bank (except a District bank) shall make to

to the Corporation reports of condition in such form and at such times as the board

of directors may require. The board of directors may require such reports to be

published in such manner, not inconsistent with any applicable law, as it may direct.

Every such bank which fails to make or publish any such report within such time,

not less than five days, as the board of directors may require, shall be subject to a

penalty of not more than $100 for each day of such failure recoverable by the

Corporation for its use.

(4) The Corporation shall have access to reports of examinations made by, and

reports of condition made to, the Comptroller of the Currency or any Federal

Reserve bank, may accept any report made by or to any commission, board, or

authority having supervision of a State nonmember bank (except a District bank),

and may furnish to the Comptroller of the Currency, to any Federal Reserve bank,

and to any such commission, board, or authority, reports of examinations made on

behalf of, and reports of condition made to, the Corporation.

Insurance of deposits— liquidation of insured banks

(1) (1) The Temporary Federal Deposit Insurance Fund and the Fund For

Mutuals heretofore created pursuant to the provisions of this section are hereby

consolidated into a Permanent Insurance Fund for insuring deposits, and the assets

therein shall be held by the Corporation for the uses and purposes of the Corporation: Provided, That the obligations to and rights of the Corporation, depositors,

banks, and other persons arising out of any event or transaction prior to the effective

date shall remain unimpaired. On and after the effective date, the Corporation

shall insure the deposits of all insured banks as provided in this section: Provided,

That the insurance shall apply only to deposits of insured banks which have been

made available since March 10, 1933, for withdrawal in the usual course of the

banking business: Provided further, That if any insured bank shall, without the

consent of the Corporation, release or modify restrictions on or deferments of deposits which had not been made available for withdrawal in the usual course of the

banking business on or before the effective date, such deposits shall not be insured.

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The maximum amount of the insured deposit of any depositor shall be $5,000.

The Corporation, in the discretion of the board of directors, may open on its books

solely for the benefit of mutual savings banks and depositors therein a separate

Fund For Mutuals. If such Fund is opened, all assessments upon mutual savings

banks shall be paid into such Fund and the Permanent Insurance Fund of the

Corporation shall cease to be liable for insurance losses sustained in mutual savings

banks: Provided, That the capital assets of the Corporation shall be so liable and

all expenses of operation of the Corporation shall be allocated between such Funds

on an equitable basis.

(2) For the purposes of this section, an insured bank shall be deemed to have

been closed on account of inability to meet the demands of its depositors in any case

in which it has been closed for the purpose of liquidation without adequate provision

being made for payment of its depositors.

(3) Notwithstanding any other provision of law, whenever any insured national

bank or insured District bank shall have been closed by action of its board of

directors, or by the Comptroller of the Currency, as the case may be, on account

of inability to meet the demands of its depositors, the Comptroller of the Currency

shall appoint the Corporation receiver for such closed bank, and no other person

shall be appointed as receiver of such closed bank.

(4) It shall be the duty of the Corporation as such receiver to realize upon the

assets of such closed bank, having due regard to the condition of credit in the locality;

to enforce the individual liability of the stockholders and directors thereof; and to

wind up the affairs of such closed bank in conformity with the provisions of law

relating to the liquidation of closed national banks, except as herein otherwise

provided. The Corporation shall retain for its own account such portion of the

amounts realized from such liquidation as it shall be entitled to receive on account of

its subrogation to the claims of depositors, and it shall pay to depositors and other

creditors the net amounts available for distribution to them. With respect to any

such closed bank, the Corporation as such receiver shall have all the rights, powers,

and privileges now possessed by or hereafter granted by law to a receiver of an

insolvent national bank.

(5) Whenever any insured State bank (except a District bank) shall have been

closed by action of its board of directors or by the authority having supervision

of such bank, as the case may be, on account of inability to meet the demands of

its depositors, the Corporation shall accept appointment as receiver thereof, if such

appointment is tendered by the authority having supervision of such bank and is

authorized or permitted by State law. With respect to any such insured State

bank, the Corporation as such receiver shall possess all the rights, powers, and

privileges granted by State law to a receiver of a State bank.

(6) Whenever an insured bank shall have been closed on account of inability

to meet the demands of its depositors, payment of the insured deposits in such bank

shall be made by the Corporation as soon as possible, subject to the provisions of

paragraph (7) of this subsection, either (A) by making available to each depositor

a transferred deposit in a new bank in the same community or in another insured

bank in an amount equal to the insured deposit of such depositor and subject to

withdrawal on demand, or (B) in such other manner as the board of directors may

prescribe: Provided, That the Corporation, in its discretion, may require proof

of claims to be filed before paying the insured deposits, and that in any case where

the Corporation is not satisfied as to the validity of a claim for an insured deposit,

it may require the final determination of a court of competent jurisdiction before

paying such claim.

(7) In the case of a closed national bank or District bank, the Corporation, upon

the payment of any depositor as provided in paragraph (6) of this subsection, shall

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be subrogated to all rights of the depositor against the closed bank to the extent of

such payment. In the case of any other closed insured bank, the Corporation shall

not make any payment to any depositor until the right of the Corporation to be

subrogated to the rights of such depositor on the same basis as provided in the case

of a closed national bank under this section shall have been recognized either by

express provision of State law, by allowance of claims by the authority having

supervision of such bank, by assignment of claims by depositors, or by any other

effective method. In the case of any closed insured bank, such subrogation shall

include the right on the part of the Corporation to receive the same dividends from

the proceeds of the assets of such closed bank and recoveries on account of stockholders’ liability as would have been payable to the depositor on a claim for the

insured deposit, but such depositor shall retain his claim for any uninsured portion

of his deposit: Provided, That the rights of depositors and other creditors of any

State bank shall be determined in accordance with the applicable provisions of

State law.

(8) As soon as possible after the closing of an insured bank, the Corporation, if it

finds that it is advisable and in the interest of the depositors of the closed bank or

the public, shall organize a new national bank to assume the insured deposits of such

closed bank and otherwise to perform temporarily the functions hereinafter provided

for. The new bank shall have its place of business in the same community as the

closed bank.

(9) The articles of association and the organization certificate of the new bank

shall be executed by representatives designated by the Corporation. No capital

stock need be paid in by the Corporation. The new bank shall not have a board of

directors, but shall be managed by an executive officer appointed by the board of

directors of the Corporation who shall be subject to its directions. In all other

respects the new bank shall be organized in accordance with the then existing

provisions of law relating to the organization of national banking associations. The

new bank may, with the approval of the Corporation, accept new deposits which

shall be subject to withdrawal on demand and which, except where the new bank is

the only bank in the community, shall not exceed $5,000 from any depositor. The

new bank, without application to or approval by the Corporation, shall be an insured

bank and shall maintain on deposit with the Federal Reserve bank of its district

reserves in the amount required by law for member banks, but it shall not be required

to subscribe for stock of the Federal Reserve bank. Funds of the new bank shall be

kept on hand in cash, invested in obligations of the United States, or in obligations

guaranteed as to principal and interest by the United States, or deposited with the

Corporation, with a Federal Reserve bank, or, to the extent of the insurance coverage thereon, with an insured bank. The new bank, unless otherwise authorized by

the Comptroller of the Currency, shall transact no business except that authorized

by this section and as may be incidental to its organization. Notwithstanding any

other provision of law the new bank, its franchise, property, and income shall be

exempt from all taxation now or hereafter imposed by the United States, by any

Territory, dependency, or possession thereof, or by any State, county, municipality,

or local taxing authority.

(10) Upon the organization of a new bank, the Corporation shall promptly make

available to it an amount equal to the estimated insured deposits of such closed

bank plus the estimated amount of the expenses of operating the new bank, and

shall determine as soon as possible the amount due each depositor for his insured

deposit in the closed bank, and the total expenses of operation of the new bank.

Upon such determination, the amounts so estimated and made available shall be

adjusted to conform to the amounts so determined. Earnings of the new bank

shall be paid over or credited to the Corporation in such adjustment. If any new

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bank, during the period it continues its status as such, sustains any losses with

respect to which it is not effectively protected except by reason of being an insured

bank, the Corporation shall furnish to it additional funds in the amount of such

losses. The new bank shall assume as transferred deposits the payment of the

insured deposits of such closed bank to each of its depositors. Of the amounts so

made available, the Corporation shall transfer to the new bank, in cash, such sums

as may be necessary to enable it to meet its expenses of operation and immediate

cash demands on such transferred deposits, and the remainder of such amounts

shall be subject to withdrawal by the new bank on demand.

(11) Whenever in the judgment of the board of directors it is desirable to do so,

the Corporation shall cause capital stock of the new bank to be offered for sale on

such terms and conditions as the board of directors shall deem advisable in an

amount sufficient, in the opinion of the board of directors, to make possible the conduct of the business of the new bank on a sound basis, but in no event less than that

required by section 5138 of the Revised Statutes, as amended (U. S. C., Supp.

V II, title 12, sec. 51), for the organization of a national bank in the place where

such new bank is located. The stockholders of the closed insured bank shall be

given the first opportunity to purchase any shares of common stock so offered.

Upon proof that an adequate amount of capital stock in the new bank has been

subscribed and paid for in cash, the Comptroller of the Currency shall require the

articles of association and the organization certificate to be amended to conform

to the requirements for the organization of a national bank, and thereafter, when

the requirements of law with respect to the organization of a national bank have

been complied with, he shall issue to the bank a certificate of authority to commence

business, and thereupon the bank shall cease to have the status of a new bank,

shall be managed by directors elected by its own shareholders and may exercise

all the powers granted by law, and it shall be subject to all the provisions of law

relating to national banks. Such bank shall thereafter be an insured national

bank, without certification to or approval by the Corporation.

(12) If the capital stock of the new bank is not offered for sale, or if an adequate

amount of capital for such new bank is not subscribed and paid for, the board of

directors may offer to transfer its business to any insured bank in the same community which will take over its assets, assume its liabilities, and pay to the Corporation for such business such amount as the board of directors may deem adequate;

or the board of directors in its discretion may change the location of the new bank

to the office of the Corporation or to some other place or may at any time wind up

its affairs as herein provided. Unless the capital stock of the new bank is sold or

its assets are taken over and its liabilities are assumed by an insured bank as above

provided within two years from the date of its organization, the Corporation shall

wind up the affairs of such bank, after giving such notice, if any, as the Comptroller

of the Currency may require, and shall certify to the Comptroller of the Currency

the termination of the new bank. Thereafter the Corporation shall be liable for

the obligations of such bank and shall be the owner of its assets. The provisions

of sections 5220 and 5221 of the Revised Statutes (U. S. C., title 12, secs. 181 and

182) shall not apply to such new banks.

Rights of Corporation as receiver— liability for insured deposits

(m) (1) The Corporation as receiver of a closed national bank or District bank

shall not be required to furnish bond and shall have the right to appoint an agent

or agents to assist it in its duties as such receiver, and all fees, compensation, and

expenses of liquidation and administration thereof shall be fixed by the Corporation,

subject to the approval of the Comptroller of the Currency, and may be paid by

it out of funds coming into its possession as such receiver. The Comptroller of

the Currency is authorized and empowered to waive and relieve the Corporation

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from complying with any regulations of the Comptroller of the Currency with

respect to receiverships where in his discretion such action is deemed advisable

to simplify administration.

(2) Payment of an insured deposit to any person by the Corporation shall

discharge the Corporation, and payment of a transferred deposit to any person

by the new bank or by an insured bank in which a transferred deposit has been

made available shall discharge the Corporation and such new bank or other insured

bank, to the same extent that payment to such person by the closed bank would

have discharged it from liability for the insured deposit.

(3) Except as otherwise prescribed by the board of directors, neither the Corporation nor such new bank or other insured bank shall be required to recognize

as the owner of any portion of a deposit appearing on the records of the closed

bank under a name other than that of the claimant, any person whose name or

interest as such owner is not disclosed on the records of such closed bank as part

owner of said deposit, if such recognition would increase the aggregate amount

of the insured deposits in such closed bank.

(4) The Corporation may withhold payment of such portion of the insured

deposit of any depositor in a closed bank as may be required to provide for the

payment of any liability of such depositor as a stockholder of the closed bank,

or of any liability of such depositor to the closed bank or its receiver, which is not

offset against a claim due from such bank, pending the determination and payment

of such liability by such depositor or any other person liable therefor.

(5) If, after the Corporation shall have given at least three months’ notice to

the depositor by mailing a copy thereof to his last known address appearing on

the records of the closed bank, any depositor in the closed bank shall fail to claim

his insured deposit from the Corporation within eighteen months after the appointment of the receiver for the closed bank, or shall fail within such period to claim

or arrange to continue the transferred deposit with the new bank or with the other

insured bank which assumes liability therefor, all rights of the depositor against the

Corporation with respect to the insured deposit, and against the new bank and such

other insured bank with respect to the transferred deposit, shall be barred, and all

rights of the depositor against the closed bank and its shareholders, or the receivership estate to which the Corporation may have become subrogated, shall thereupon

revert to the depositor. The amount of any transferred deposits not claimed

within such eighteen months’ period, shall be refunded to the Corporation.

Investment of funds of the Corporation

(n) (1) Money of the Corporation not otherwise employed shall be invested in

obligations of the Unt ed States or in obligations guaranteed as to principal and

interest by the United States, except that for temporary periods, in the discretion

of the board of directors, funds of the Corporation may be deposited in any Federal

Reserve bank or with the Treasurer of the United States. When designated for

that purpose by the Secretary of the Treasury, the Corporation shall be a depositary

of public moneys, except receipts from customs, under such regulations as may be

prescribed by the said Secretary, and may also be employed as a financial agent

of the Government. It shall perform all such reasonable duties as depositary of

public moneys and financial agent of the Government as may be required of it.

(2) Nothing contained in this section shall be construed to prevent the Corporation from making loans to national banks closed by action of the Comptroller

of the Currency, or by vote of their directors, or to State member banks closed

by action of the appropriate State authorities, or by vote of their directors, or from

entering into negotiations to secure the reopening of such banks.

(3) Receivers or liquidators of insured banks closed on account of inability to

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meet the demands of their depositors shall be entitled to offer the assets of such

banks for sale to the Corporation or as security for loans from the Corporation,

upon receiving permission from the appropriate State authority in accordance

with express provisions of State law in the case of insured State banks, or from the

Comptroller of the Currency in the case of national banks or District banks. The

proceeds of every such sale or loan shall be utilized for the same purposes and in

the same manner as other funds realized from the liquidation of the assets of such

banks. The Comptroller of the Currency may, in his discretion, pay dividends

on proved claims at any time after the expiration of the period of advertisement

made pursuant to section 5235 of the Revised Statutes (U. S. C., title 12, sec. 193),

and no liability shall attach to the Comptroller of the Currency or to the receiver

of any national bank by reason of any such payment for failure to pay dividends

to a claimant whose claim is not proved at the time of any such payment. The

Corporation, in its discretion, may make loans on the security of or may purchase

and liquidate or sell any part of the assets of an insured bank which is now or may

hereafter be closed on account of inability to meet the demands of its depositors,

but in any case in which the Corporation is acting as receiver of a closed insured

bank, no such loan or purchase shall be made without the approval of a court of

competent jurisdiction.

(4) Until July 1, 1936, whenever in the judgment of the board of directors such

action will reduce the risk or avert a threatened loss to the Corporation and will

facilitate a merger or consolidation of an insured bank with another insured bank,

or will facilitate the sale of the assets of an open or closed insured bank to and

assumption of its liabilities by another insured bank, the Corporation may, upon

such terms and conditions as it may determine, make loans secured in whole or

in part by assets of an open or closed insured bank, which loans may be in subordination to the rights of depositors and other creditors, or the Corporation may purchase

any such assets or may guarantee any other insured bank against loss by reason

of its assuming the liabilities and purchasing the assets of an open or closed insured

bank. Any insured national bank or District bank, or, with the approval of the

Comptroller of the Currency, any receiver thereof, is authorized to contract for

such sales or loans and to pledge any assets of the bank to secure such loans.

Obligations of the Corporation

(o) (1) 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 three times the amount received by the Corporation

in payment of its capital stock and in payment of the assessments upon insured

banks for the year 1936. The notes, debentures, bonds, and other such obligations

issued under this subsection shall be redeemable at the option of the Corporation

before maturity in such manner as may be stipulated in such obligations, and shall

bear such rate or rates of interest, and shall mature at such time or times, as may

be determined by the Corporation: Provided, That the Corporation may sell

on a discount basis short-term obligations payable at maturity without interest.

The notes, debentures, bonds, and other such obligations of the Corporation may

be secured by assets of the Corporation in such manner as shall be prescribed by

its board of directors. Such obligations may be offered for sale at such price or

prices as the Corporation may determine.

(2) The Secretary of the Treasury, in his discretion, is authorized to purchase

any obligations of the Corporation to be issued hereunder, and for such purpose

the Secretary of the Treasury is authorized to use as a public-debt transaction the

proceeds of the sale of any securities hereafter issued under the Second Liberty

Bond Act, as amended, and the purposes for which securities may be issued under

the Second Liberty Bond Act, as amended, are extended to include such purchases:

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REVISED DEPOSIT INSURANCE LAW 83

Provided, That if the Reconstruction Finance Corporation fails for any reason to

purchase any of the obligations of the Corporation as provided in subsection (b)

of section 5e of the Reconstruction Finance Corporation Act, as amended, 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: Provided further, That the Secretary of the

Treasury is authorized and directed, whenever in the judgment of the board of

directors of the Corporation additional funds are required for insurance purposes,

to purchase obligations of the Corporation in an additional amount of not to exceed

$250,000,000 par value: Provided further, That the proceeds derived from the

purchase by the Secretary of the Treasury of any such obligations shall be used

by the Corporation solely in carrying out its functions with respect to such insurance.

The Secretary of the Treasury may, at any time, sell any of the obligations of the

Corporation acquired by him under this subsection. All redemptions, purchases,

and sales by the Secretary of the Treasury of the obligations of the Corporation

shall be treated as public-debt transactions of the United States.

Tax exemption provisions

(p) All notes, debentures, bonds, or other such obligations issued by the Corporation shall be exempt, both as to principal and interest, from all taxation (except

estate and inheritance taxes) now or hereafter imposed by the United States, by

any Territory, dependency, or possession thereof, or by any State, county, municipality, or local taxing authority. The Corporation, including its franchise, its

capital, reserves, and surplus, and its income, shall be exempt from all taxation

now or hereafter imposed by the United States, by any Territory, dependency, or

possession thereof, or by any State, county, municipality, or local taxing authority,

except that any real property of the Corporation shall be subject to State, Territorial, county, municipal, or local taxation to the same extent according to its

value as other real property is taxed.

Forms of obligations

(q) In order that the Corporation may be supplied with such forms of notes,

debentures, bonds, or other such obligations as it may need for issuance under

this Act, the Secretary of the Treasury is authorized to prepare such forms as shall

be suitable and approved by the Corporation, to be held in the Treasury subject

to delivery, upon order of the Corporation. The engraved plates, dies, bed pieces,

and other material executed in connection therewith shall remain in the custody

of the Secretary of the Treasury. The Corporation shall reimburse the Secretary

of the Treasury for any expenses incurred in the preparation, custody, and delivery

of such notes, debentures, bonds, or other such obligations.

Annual report

(r) The Corporation shall annually make a report of its operations to the Congress as soon as practicable after the 1st day of January in each year.

Penalty for false statements to Corporation

(s) Whoever, for the purpose of obtaining any loan from the Corporation, or

any extension or renewal thereof, or the acceptance, release, or substitution of

security therefor, or for the purpose of inducing the Corporation to purchase any

assets, or for the purpose of obtaining the payment of any insured deposit or transferred deposit or the allowance, approval, or payment of any claim, or for the purpose

of influencing in any way the action of the Corporation under this section, makes

any statement, knowing it to be false, or willfully overvalues any security, shall

be punished by a fine of not more than $5,000, or by imprisonment for not more

than two years, or both.

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84 FEDERAL DEPOSIT INSURANCE CORPORATION

Penalty for making or uttering counterfeit obligations of Corporation

(t) Whoever (1) falsely makes, forges, or counterfeits any obligation or coupon,

in imitation of or purporting to be an obligation or coupon issued by the Corporation,

or (2) passes, utters, or publishes, or attempts to pass, utter, or publish, any false,

forged, or counterfeited obligation or coupon purporting to have been issued by

the Corporation, knowing the same to be false, forged, or counterfeited, or (3)

falsely alters any obligation or coupon issued or purporting to have been issued the

Corporation, or (4) passes, utters, or publishes, or attempts to pass, utter, or publish, as true, any falsely altered or spurious obligation or coupon, issued or purporting to have been issued by the Corporation, knowing the same to be falsely

altered or spurious, shall be punished by a fine of not more than $10,000, or by

imprisonment for not more than five years, or both.

Penalty for embezzlement or frauds on Corporation

(u) Whoever, being connected in any capacity with the Corporation, (1) embezzles, abstracts, purloins, or willfully misapplies any moneys, funds, securities,

or other things of value, whether belonging to it or pledged, or otherwise entrusted

to it, or (2) with intent to defraud the Corporation or any other body, politic or

corporate, or any individual, or to deceive any officer, auditor, or examiner of the

Corporation, makes any false entry in any book, report, or statement of or to the

Corporation, or without being duly authorized draws any order or issues, puts

forth, or assigns any note, debenture, bond, or other such obligation, or draft, bill

of exchange, mortgage, judgment, or decree thereof, shall be punished by a fine

of not more than $10,000, or by imprisonment for not more than five years, or both.

Regulation of insured banks

(v) (1) No individual, association, partnership, or corporation shall use the

words “ Federal Deposit Insurance Corporation” , or a combination of any three

of these four words, as the name or a part thereof under which he or it shall do

business. No individual, association, partnership, or corporation shall advertise

or otherwise represent falsely by any device whatsoever that his or its deposit

liabilities are insured or in anywise guaranteed by the Federal Deposit Insurance

Corporation or by the United States or any instrumentality thereof; and no insured

bank shall advertise or otherwise represent falsely by any device whatsoever the

extent to which or the manner in which its deposit liabilities are insured by the

Federal Deposit Insurance Corporation. Every individual, partnership, association, or corporation violating this subsection shall be punished by a fine of not

exceeding $1,000, or by imprisonment not exceeding one year, or both.

(2) Every insured bank shall display at each place of business maintained by it

a sign or signs, and shall include in advertisements relating to deposits a statement

to the effect that its deposits are insured by the Corporation. The board of directors shall prescribe by regulation the forms of such signs and the manner of display

and the substance of such statements and the manner of use. For each day an

insured bank continues to violate any provision of this paragraph or any lawful

provision of said regulations, it shall be subject to a penalty of not more than $100,

recoverable by the Corporation for its use.

(3) No insured bank shall pay any dividends on its capital stock or interest on its

capital notes or debentures (if such interest is required to be paid only out of net

profits) while it remains in default in the payment of any assessment due to the

Corporation; and any director or officer of any insured bank who participates in

the declaration or payment of any such dividend shall, upon conviction, be fined

not more than $1,000, or imprisoned not more than one year, or both: Provided,

That if such default is due to a dispute between the insured bank and the Corporation over the amount of such assessment, this paragraph shall not apply, if such

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REVISED DEPOSIT INSURANCE LAW 85

bank shall deposit security satisfactory to the Corporation for payment upon final

determination of the issue.

(4) Unless, in addition to compliance with other provisions of law, it shall have

the prior written consent of the Corporation, no insured bank shall enter into any

consolidation or merger with any noninsured bank, or assume liability to pay any

deposits made in any noninsured bank, or transfer assets to any noninsured bank in

consideration of the assumption of liability for any portion of the deposits made in

such insured bank, and no insured State nonmember bank (except a District bank)

without such consent shall reduce the amount or retire any part of its common or

preferred capital stock, or retire any part of its capital notes or debentures.

(5) No State nonmember insured bank (except a District bank) shall establish

and operate any new branch after thirty days after the effective date unless it shall

have the prior written consent of the Corporation, and no branch of any State nonmember insured bank shall be moved from one location to another after thirty days

after the effective date without such consent. The factors to be considered in

granting or withholding the consent of the Corporation under this paragraph shall

be those enumerated in subsection (g) of this section.

(6) The Corporation may require any insured bank to provide protection and

indemnity against burglary, defalcation, and other similar insurable losses. Whenever any insured bank refuses to comply with any such requirement the Corporation

may contract for such protection and indemnity and add the cost thereof to the

assessment otherwise payable by such bank.

(7) Whenever any insured bank (except a national bank or a District bank),

after written notice of the recommendations of the Corporation based on a report

of examination of such bank by an examiner of the Corporation, shall fail to comply

with such recommendations within one hundred and twenty days after such notice,

the Corporation shall have the power, and is hereby authorized, to publish only

such part of such report of examination as relates to any recommendation not

complied with: Provided, That notice of intention to make such publication shall

be given to the bank at least ninety days before such publication is made.

(8) The board of directors shall by regulation prohibit the payment of interest

on demand deposits in insured nonmember banks and for such purpose it may

define the term “ demand deposits” ; but such exceptions from this prohibition shall

be made as are now or may hereafter be prescrbed with respect to deposits payable

on demand in member banks by section 19 of this Act, as amended, or by regulation

of the Board of Governors of the Federal Reserve System. The board of directors

shall from time to time limit by regulation the rates of interest or dividends which

may be paid by insured nonmember banks on time and savings deposits, but such

regulations shall be consistent with the contractual obligations of such banks to

their depositors. For the purpose of fixing such rates of interest or dividends, the

board of directors shall by regulation prescribe different rates for such payment on

time and savings deposits having different maturities, or subject to different conditions

respecting withdrawal or repayment, or subject to different conditions by reason of

different locations, or according to the varying discount rates of member banks in

the several Federal Reserve districts. The board of directors shall by regulation

define what constitutes time and savings deposits in an insured nonmember bank.

Such regulations shall prohibit any insured nonmember bank from paying any time

deposit before its maturity except upon such conditions and in accordance with

such rules and regulations as may be prescribed by the board of directors, and from

waiving any requirement of notice before payment of any savings deposit except

as to all savings deposits having the same requirement. For each violation of any

provision of this paragraph or any lawful provision of such regulation* relating to

the payment of interest or dividends on deposits or to withdrawal of deposits, the

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86 FEDERAL DEPOSIT INSURANCE CORPORATION

offending bank shall be subject to a penalty of not more than $100, recoverable by

the Corporation for its use.

Sections of the Criminal Code applicable to contracts with the Corporation

(w) The provisions of sections 112, 113, 114, 115, 116, and 117 of the Criminal

Code of the United States (U. S. C., title 18, ch. 5, secs. 202 to 207, inclusive), insofar

as applicable, are extended to apply to contracts or agreements with the Corporation

under this section, which for the purposes hereof shall be held to include loans,

advances, extensions, and renewals thereof, and acceptances, releases, and substitutions of security therefor, purchases or sales of assets, and all contracts and

agreements pertaining to the same.

Duty of Secret Service Division to detect and arrest offenders

(x) The Secret Service Division of the Treasury Department is authorized to

detect, arrest, and deliver into the custody of the United States marshal having

jurisdiction any person committing any of the offenses punishable under this section.

Federal Reserve System-—obligations to join

(y) (1) No State bank which during the calendar year 1941 or any succeeding

calendar year shall have average deposits of $1,000,000 or more shall be an insured

bank or continue to have any part of its deposits insured after July 1 of the year

following any such calendar year during which it shall have had such amount of

average deposits, unless such bank shall be a member of the Federal Reserve System:

Provided, That for the purposes of this paragraph the term “ State bank” shall not

include a savings bank, a mutual savings bank, a Morris Plan bank or other incorporated banking institution engaged only in a business similar to that transacted

by Morris Plan banks, a State trust company doing no commercial banking business,

or a bank located in Hawaii, Alaska, Puerto Rico, or the Virgin Islands.

(2) It is not the purpose of this section to discriminate, in any manner, against

State nonmember, and in favor of, national or member banks; but the purpose is

to provide all banks with the same opportunity to obtain and enjoy the benefits of

this section. No bank shall be discriminated against because its capital stock is

less than the amount required for eligibility for admission into the Federal Reserve

System.

Separability clause

(z) The provisions of this section limiting the insurance of the deposits of any

depositor to a maximum less than the full amount shall be independent and separable

from each and all of the provisions of this section.

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REGULATIONS 87

During 1935 the Board of Directors of the Federal Deposit Insurance Corporation issued five regulations, as well as certain miscellaneous rulings, notes, and interpretations clarifying provisions of the 

regulations. One other regulation was approved during 1935, but 

not issued until 1936.

Regulations of a temporary nature. Problems of a temporary 

nature, arising in connection with the termination of the temporary 

funds, were treated in regulations which continued the alphabetical 

designations begun in 1933 and 1934. The text of Regulations G 

and H, last of this series, follows:

E X E R C IS E O F R IG H T OF E L E C T IO N N O T TO C O N T IN U E AS A N IN SU R E D BANK

REG U LATIO N G

This regulation was approved August 26, 1935,

and became effective as of that date.

REGULATIONS OF THE FEDERAL DEPOSIT INSURANCE CORPORATION

Scope of R e g ulatio n

This regulation relates to the manner of exercise of the right of election, within

30 days after the “ effective date” of the Banking Act of 1935, of any bank which is

not a member of the Federal Reserve System not to continue as an insured bank.

The “ effective date” of the Banking Act of 1935 is August 23, 1935.

Section 1.

Statutory Provisions.

Paragraph (1), subsection (f) of Section 12B of the Federal Reserve Act, as

amended, provides in part as follows:

“ Every bank which is not a member of the Federal Reserve System which

on June 30,1935, was or thereafter became a member of the Temporary Federal

Deposit Insurance Fund or of the Fund for Mutuals heretofore created pursuant to the provisions of this section, shall be and continue to be without

application or approval, an insured bank and shall be subject to the provisions

of this section: Provided, That any State nonmember bank which was admitted

to the said Temporary Federal Deposit Insurance Fund or the Fund for Mutuals

but which did not file on or before the effective date an October 1,1934, certified

statement and make the payments thereon required by law, shall cease to be

an insured bank on August 31, 1935: Provided, further, That no bank admitted

to the said Temporary Federal Deposit Insurance Fund or the Fund for Mutuals

prior to the effective date shall, after August 31, 1935, be an insured bank or

have its deposits insured by the Corporation, if such bank shall have permanently discontinued its banking operations prior to the effective date.”

Paragraph (3), subsection (i) of Section 12B of the Federal Reserve Act, as

amended, provides in part as follows:

“ If any nonmember bank which becomes an insured bank under the provisions of paragraph (1) of subsection (f) of this section shall elect, within

thirty days after the effective date, not to continue as an insured bank, and

shall within such period give written notice to the Corporation of its election,

in accordance with regulations to be prescribed by the board of directors, and

to the Reconstruction Finance Corporation if it owns or holds as pledgee

any preferred stock, capital notes, or debentures of such bank, it shall cease to

be an insured bank****. The board of directors shall cause notice of termination of insurance to be given to the depositors of such bank by publication or

otherwise as the board of directors may determine, and the deposits in such

bank shall continue to be insured for twenty days beyond such thirty day

period.”

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88 FEDERAL DEPOSIT INSURANCE CORPORATION

Section 2.

The right to elect not to continue as an insured bank has no application to member banks of the Federal Reserve System.

Every bank not a member of the Federal Reserve System which on June 30,

1935, was or thereafter became a member of the said Temporary Federal Deposit

Insurance Fund or of the said Fund for Mutuals will be and continue to be an

insured bank as provided by law, unless it shall elect, on or before the 22nd day

of September 1935, in the manner prescribed by this regulation, not to continue

as an insured bank.

Section 3.

Every bank not a member of the Federal Reserve System, which on June 30,

1935, was or thereafter became a member of said Temporary Federal Deposit Insurance Fund or of said Fund for Mutuals shall have the right to elect on or before

September 22, 1935, not to continue as an insured bank by complying with the

following requirements, and not otherwise:

(a) Written notice of such election must be given by the bank by a registered

letter addressed to the Federal Deposit Insurance Corporation, Washington,

D. C., postage thereon prepaid. A telegram from the bank, if received by

the Federal Deposit Insurance Corporation in Washington, D. C., on or before

September 22, 1935, advising the Corporation that such letter has been

mailed, will be notice to the Corporation in the event such letter was actually

mailed.

(b) A resolution must be lawfully adopted by the governing board of the bank on

or before September 22, 1935, stating that the bank elects not to continue as

an insured bank: Provided, That if such resolution is adopted subsequent to

sending the notice prescribed in paragraph (a) of this section, the resolution

shall be effective as a ratification of the act of giving such notice.

(c) A copy of the resolution, duly attested and bearing the bank’s corporate seal

and which complies with the preceding subsection, must be deposited in the

mails, enclosed in an envelope, addressed to the Federal Deposit Insurance

Corporation, Washington, D. C., postage thereon prepaid.

(d) If the Reconstruction Finance Corporation owns, or holds as pledgee, any

preferred stock, capital notes, or debentures of the bank, the bank must

notify the Reconstruction Finance Corporation, Washington, D. C., in the

same manner as it is required to notify the Federal Deposit Insurance Corporation.

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REGULATIONS 89

M A N N E R OF G IV IN G N O T IC E T O D E P O S IT O R S OF T E R M IN A T IO N OF

IN S U R A N C E O F A N IN SU R E D B AN K

REG U LATIO N H

This regulation was approved September 9, 1935,

and became effective as of

thot date.

Scope of R eg u la tio n

This regulation relates to the manner of giving notice to depositors of termination

of insurance of any insured bank, not a member of the Federal Reserve System which

has exercised the right of election on or before September 22, 1935, not to continue

as an insured bank and has complied with Regulation G of this Corporation.

Sectio n 1.

Statutory Provisions.

Paragraph (3), subsection (i) of Section 12B of the Federal Reserve Act, as

amended, provides in part as follows:

“ If any nonmember bank which becomes an insured bank under the provisions of paragraph (1) of subsection (f) of this section shall elect, within

thirty days after the effective date1, not to continue as an insured bank, and

shall within such period give written notice to the Corporation of its election,

in accordance with regulations to be prescribed by the board of directors, and

to the Reconstruction Finance Corporation if it owns or holds as pledgee any

preferred stock, capital notes, or debentures of such bank, it shall cease to be

an insured bank***. The board of directors shall cause notice of termination

of insurance to be given to the depositors of such bank by publication or otherwise as the board of directors may determine, and the deposits in such bank

shall continue to be insured for twenty days beyond such thirty day period.”

Section 2.

The Federal Deposit Insurance Corporation will give notice to the depositors of every

bank electing not to continue as an insured bank in compliance with the provisions

of Regulation G, by posting notices as soon as practicable after September 22, 1935,

to remain posted until midnight October 12, 1935, one of such notices to be posted

in a conspicuous place in each office where the bank receives deposits, and another

of such notices to be posted in a conspicuous place in the main Post Office in each

city, town, or village where the bank receives deposits, and by causing notice to be

published in each issue of a newspaper of general circulation in each city, town, or

village in which the bank receives deposits, such publication to commence as soon

as practicable after September 22, 1935, and to end October 12, 1935.

Section 3.

The notice to be so posted and published shall be prepared by the Corporation

and shall set forth substantially the following statement:

“ Notice To Depositors Of The....................................................................Bank,

....................................Bank, located at.................................................., ............................... ,

having elected not to continue as an insured bank in accordance with the provisions of paragraph (3) of subsection (i) of Section 12B of the Federal Reserve

Act, as amended, its depositors are hereby notified that the deposits in such

bank will continue to be insured by the Federal Deposit Insurance Corporation

to the extent provided by law until midnight on October 12, 1935, and at such

time insurance of deposits in such bank by the Federal Deposit Insurance

Corporation will terminate.

FED ER A L DEPOSIT IN SU RAN CE CORPORATION

By Leo T. Crowley,

Chairman of the Board of Directors ”

Sectio n 4.

The Corporation reserves the right, in lieu of or in addition to the notice hereinbefore prescribed, to give notice to the depositors of any bank electing not to continue as an insured bank in such other manner or form as the Board of Directors

of the Corporation may hereafter determine.

1 The effective date is August 23, 1935.

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90 FEDERAL DEPOSIT INSURANCE CORPORATION

Regulations of a permanent nature. In connection with provisions of the Banking Act of 1935 relating to the permanent plan of 

insurance, a new series of regulations, designated by Roman numerals, 

was begun. There follows the text of Regulations I, II, III and IV 

of this series and of rulings affecting these regulations:

O B L IG A T IO N S O F IN S U R E D B A N K S FO U N D A N D P R E SC R IB E D T O BE

D E P O S IT L IA B IL IT IE S B Y G E N E R A L U SA G E

REG U LATIO N I

This regulation was approved August 26, 1935,

and became effective as of that date.

Scope of R eg ulatio n

Under the provisions of paragraph (12), subsection (c) of Section 12B of the

Federal Reserve Act, as amended, the board of directors find and prescribe that the

obligations of banks enumerated herein, arising in the usual course of business, are

deposit liabilities in addition to those specifically enumerated in said subsection.

Section 1.

Statutory Provisions

Paragraph (12), subsection (c) of Section 12B of the Federal Reserve Act, as

amended, provides as follows:

“ The term ‘deposit" means the unpaid balance of money or its equivalent

received by a bank in the usual course of business and for which it has given

or is obligated to give credit to a commercial, checking, savings, time, or thrift

account, or which is evidenced by its certificate of deposit, and trust funds

held by such bank whether retained or deposited in any department of such

bank or deposited in another bank, together with such other obligations of a bank

as the board of directors shall find and shall prescribe by its regulations to be deposit

liabilities by general usage: Provided, That any obligation of a bank which is

payable only at an office of the bank located outside the States of the United

States, the District of Columbia, Hawaii, Alaska, Puerto Rico, and the Virgin

Islands, shall not be a deposit for any of the purposes of this section or be included as a part of total deposits or of an insured deposit: Provided further,

That any insured bank having its principal place of business in any of the

States of the United States or in the District of Columbia which maintains a

branch in Hawaii, Alaska, Puerto Rico, or the Virgin Islands may elect to

exclude from insurance under this section its deposit obligations which are

payable only at such branch, and.upon so electing the insured bank with respect

to such branch shall comply with the provisions of this section applicable to

the termination of insurance by nonmember banks: Provided further, That

the bank may elect to restore the insurance to such deposits at any time its

capital stock is unimpaired.”

This regulation is promulgated pursuant to the provisions italicized above.

Section 2.

The term “ deposit” as used in paragraph (12), subsection (c) of Section 12B of the

Federal Reserve Act, as amended, shall include the following obligations:

I

Outstanding drafts1, cashier's checks and other officers' checks issued under any

of the following circumstances:

(a) For money or its equivalent received by the issuing bank; or

(b) For a charge against a deposit account in the issuing bank; or

(c) In settlement of checks, drafts, or other instruments forwarded to the issuing

bank for collection.

II

Checks drawn against a deposit account and certified by the drawee bank.

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Federal Reserve Bank of St. Louis
REGULATIONS 91

III

Outstanding travelers checks or letters of credit on which the bank is primarily

liable issued under either of the following circumstances:

(a) For money or its equivalent received by the issuing bank; or

(b) For a charge against a deposit account in the issuing bank.

1 D rafts drawn on foreign correspondents or foreign branches and payable only in foreign countries 

need not be included.

IN T E R P R E T A T IO N OF T H E W O R D S “ IT S E Q U IV A L E N T ”

IN SE C T IO N 2 O F R E G U L A T IO N I

RULING 1 TO REG U LATIO N I

Adopted by the Board of Directors on October 1, 1935

Under Regulation I, Section 2, Paragraphs I (a) and III (a) drafts, cashier’s

checks and other officers’ checks, travelers checks and letters of credit must be

regarded as issued for the equivalent of money when issued in exchange for checks

or drafts or for promissory notes upon which the person procuring any of the

enumerated instruments is primarily or secondarily liable.

D E D U C T IO N OF U N C O L L E C T E D IT E M S F R O M D E P O S IT S IN

D E T E R M IN IN G T H E A S S E S S M E N T BASE

R EG U LATIO N II

This regulation was approved August 26, 1935,

and became effective as of that date.

S c o p e o f R e g u l a t i o n

Under the provisions of paragraph (1), subsection (h) of Section 12B of the

Federal Reserve Act, as amended, insured banks are permitted to make deductions

of certain uncollected items from total deposit liabilities for the purpose of determining the bases upon which assessments are to be calculated. This regulation

prescribes the classes of uncollected items which are eligible for deduction and fixes

the periods during which such uncollected items may be deducted.

S e c t i o n 1

Statutory Provisions

Paragraph (1), subsection (h) of Section 12B of the Federal Reserve Act, as

amended, provides in part as follows:

“ The assessment rate shall be one-twelfth of 1 per centum per annum. The

semiannual assessment for each insured bank shall be in the amount of the

product of one-half the annual assessment rate multiplied by an assessment

base which shall be the average for six months of the differences at the end

of each calendar day between the total amount of liability of the bank for deposits (according to the definition of the term ‘deposit’ in and pursuant to

paragraph (12) of subsection (c) of this section, without any deduction for

indebtedness of depositors) and the total of such uncollected items as are included in such deposits and credited subject to final payment: Provided, however,

That the daily total of such uncollected items shall be determined according to

regulations prescribed by the board of directors upon a consideration of the factors

of general usage and ordinary time of availability, and for the purposes of such

deduction no item shall be regarded as uncollected for longer periods than those

prescribed by such regulations. * * *”

This regulation is promulgated pursuant to the provisions italicized above.

S e c t i o n 2

The term “item” as used in this regulation means any instrument providing for the

payment of money.

In computing the bank’s assessment base, items may be deducted by the bank of

deposit from the total amount of the bank’s liability for deposits during the periods

prescribed by section 3 of this regulation: Provided, That they were included in the

bank’s liability for deposits and, Provided further, That they were received in the

usual course of business pursuant to an agreement under which the bank has given

or is obligated to give credit to a commercial, checking, savings, time, or thrift

account, and that the drawee or the payor of the item is a bank or person other than

the bank of deposit.

No item shall be deducted except in accordance with the provisions of this section.

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92 FEDERAL DEPOSIT INSURANCE CORPORATION

Section 3

A local item1 shall be eligible for deduction for a period not to exceed one day. An

out-of-town item shall be eligible for deduction for a period not to exceed the time

which would be necessary to send the item in due course to the Federal Reserve bank

of the Federal Reserve district or the branch of the sub-district thereof in which the

bank of deposit is located, plus the time allowed for collection from the place where

the item is payable, as shown on the current Time Schedule of such Federal Reserve

bank or branch thereof: Provided, That no item shall be deducted after the bank

has had advice that the item has been paid or dishonored.

This regulation is not to be construed as requiring any bank to clear items through

any Federal Reserve bank or branch thereof.

1 On O ctober 9, 1935, the Board of Directors ruled that “ The term ‘local item ’ as used in Section 3 of 

Regulation II does not include items which are not available for two or more days under the Tim e Schedule 

of the Federal Reserve bank or branch thereof for the city in which the bank of deposit is located ”

IN TER PR E TATIO N OF R EG U L AT IO N II W IT H REFERENCE TO PER M ISSIBLE

D ED UCTIO NS IN TH E EVEN T W IT H D R A W A L S H AVE BEEN ALLO W ED .

RU LIN G 1 TO REG U LATIO N II

Adopted by the Board of Directors on October / , 1935

Under Regulation II, Section 2, the bank may deduct the uncollected items therein

described without regard to whether withdrawal has been made against the credit

given or agreed to be given therefor.

D IS P L A Y OF O F F IC IA L S IG N A N D U SE OF O F F IC IA L

A D V E R T IS IN G S T A T E M E N T

REGULATION III

Approved and effective October 11, 1935

{Superseding Regulation F of 1934 Series)

Scope o f R e g u la tio n

This regulation prescribes the requirements with regard to the official sign

insured banks must display and the requirements with regard to the official advertising statement insured banks must include in advertisements relating to deposits.

It also prescribes an approved emblem and an approved short title which insured

banks may use at their option. This regulation imposes no limitations on other

proper advertising of insurance of deposits by insured banks.

S ection 1

Statutory Provisions

Paragraph (2), subsection (v) of Section 12B of the Federal Reserve Act, as

amended, provides as follows:

“ Every insured bank shall display at each place of business maintained by

it a sign or signs, and shall include in advertisements relating to deposits a

statement to the effect that its deposits are insured by the Corporation. The

board of directors shall prescribe by regulation the forms of such signs and the

manner of display and the substance of such statements and the manner of

use. For each day an insured bank continues to violate any provision of this

paragraph or any lawful provision of said regulations, it shall be subject to

a penalty of not more than $100, recoverable by the Corporation for its use.”

Sectio n 2

Mandatory Requirements with Regard to the

Official Signs and Their Display

Subsection (a). Each insured bank shall continuously display on and after October

11, 1935, for so long as it: continues to be an insured bank, an official sign as hereinafter prescribed at each station or window where insured deposits are usually and

normally received in its principal place of business and in all its branches: Provided,

That no bank becoming an insured bank after October 11, 1935, shall be required

to display such official signs until 21 days after its first day of operation as an insured

bank. The official signs may be displayed by any insured bank prior to the date

display is required.

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REGULATIONS 93

Subsection (b). The official sign referred to in subsection (a) of this Section shall

be seven inches by three inches in size, made of metal, furnished to banks by this

Corporation only, and of the following design:

DEPOSITS INSURED

BY

The Federal Deposit Insurance Corporation

WASHINGTON, D. C.

ccnnn m a x im u m in s u r a n c e c c n n n

J U U U f o r e a c h d e p o s it o r 4>u U U U

The Corporation shall furnish to banks an order blank for use in procuring the

official signs. Any bank which promptly, after receipt of the order blank, fills it in,

executes it, and properly directs and forwards it to the Federal Deposit Insurance

Corporation, Washington, D. C., shall not be deemed to have violated this regulation on account of not displaying an official sign or signs, unless the bank shall omit

to display such official sign or signs after same have been tendered to the bank

through the instrumentality of the United States mail ’or otherwise.

Subsection (c). Where two or more banks receive deposits in the same office or

offices, each bank operating as an insured bank and doing business in such office or

offices is forbidden on and after October 11, 19-35, or, in the case of a bank becoming

an insured bank after October 11, 1935, after its first day of operation as an insured

bank, to receive deposits at any window or station where any noninsured bank

receives deposits.

Subsection (d). Pursuant to written notice from the Corporation given to insured

banks at least thirty days prior to any date the Corporation specifies, provided on

such date special circumstances exist, with regard to particular banks, making a

change in the wording of the official signs to be used desirable, each insured bank

receiving such notice shall on and after the date specified in such notice change its

official sign or signs in accordance with the requirements of this Corporation.

Sectio n 3

Mandatory Requirements with Regard to the Official

Advertising Statement and Manner of Use

Subsection (a). Each insured bank shall include the official advertising statement, prescribed in subsection (b) of this Section, in advertisements issued or

caused to be issued by it after February 1, 1936, of the types enumerated in subsection (c) of this Section as being of the class in which the official statement is

required to be included.

No bank which becomes an insured bank after December 1, 1935, is required

to include the official advertising statement in such advertisements until 60 days

after its first day of operation as an insured bank.

In cases where, in the opinion of the Board of Directors of the Federal Deposit

Insurance Corporation, undue hardship would result by reason of the requirements

of this subsection becoming operative as to a particular bank on the date fixed herein,

the Board of Directors may grant an extension of time applicable to the particular

bank affected, upon written application of the bank setting forth the facts.

In cases where advertising copy not including the official advertising statement

is on hand on the date the requirements of this subsection become operative, the

insured bank may cause the official advertising statement to be included by use of

a rubber stamp or otherwise.

Subsection (b). The official advertising statement shall be in substance as follows:

“ M E M B E R OF THE FED ERAL DEPOSIT INSURANCE CORPORATION.”

However, the word “ T H E ” or the words “ OF T H E ” may be omitted. Further,

the words “ This bank is a” or the words “ This institution is a” or the name of the

insured bank followed by the words “ is a” may be added before the word “ M E M ­

B E R .”

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94 FEDERAL DEPOSIT INSURANCE CORPORATION

Subsection (c). The following is an enumeration of the types of advertisements

which, when issued or caused to be issued by an insured bank, shall, in accordance

with the requirements of subsection (a) of this Section, include the official advertising statement:

1. Statements of condition of an insured bank and reports of condition of an

insured bank, except those required to be published by State or Federal law.

2. Institutional advertisements relating directly to an insured bank and published in a newspaper, magazine, or other periodical except in cases when only the

name or name and address of the insured bank is set forth.

3. Bill boards, posters, street car displays, signs and metal plates or other plates

relating directly to an insured bank, except those which set forth only the

name or name and address of the insured bank, and except those signs or

plates in the banking offices, or on the windows of the banking offices, or

attached to the building or buildings in which the banking offices are located.

4. Pamphlets, circular letters to depositors or customers, leaflets, and calendars

advertising an insured bank.

5. Novelty and specialty advertisements relating directly to an insured bank

except those which set forth only the name or name and address of the in-*

sured bank.

6. Display advertisements, advertising an insured bank, in directories such as

telephone, bank, and city directories, except listings of banks in heavy or

other type.

7. Advertisements^relating directly to an insured bank which are made by

radio or reproduced on the picture screen in theaters.

8. Advertisements soliciting trust business with the intention of causing an

insured bank to receive uninvested trust funds, except signs or plates in the

banking offices or on the windows of the banking offices or attached to the

building or buildings in which the banking offices are located, and except in

cases when only the name or name and address of the insured bank is set

forth.

Subsection (d). Insured banks are not required to include the official advertising

statement in any type of advertisements other than those enumerated in subsection

(c) as being of the class in which such statement is required to be included.

Insured banks are not required to include the official advertising statement in

bank supplies, such as stationery, envelopes, deposit slips, checks, drafts, signature

cards, deposit pass books, certificates of deposit, etc., or in the advertisements excluded by express exceptions to paragraphs 1, 2, 3, 5, 6, and 8 of subsection (c) of

this Section, or in reports to stockholders.

Subsection (e). Where an insured bank has outstanding advertisements of the

the type enumerated in paragraph 3 of subsection (c) of this Section and has direct

control either by possession or under the terms of a contract of such advertisements,

it shall, if it can do so consistently with its contractual obligations, cause the official

advertising statement to be included therein at such time as it would have been

required to include the official advertising statement had the advertisement been

newly issued rather than previously outstanding.

Approved Emblem and Approved Short Title Which

Insured Banks M ay Use at Their Option

Subsection (a). The emblem reproduced below is hereby approved for the use

of insured banks.

Subsection (b). The following short title is hereby approved for use of insured

banks: “ M E M B ER OF FD IC ” .

Se ction 4

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REGULATIONS 95

Subsection (c). No insured bank is required to use the emblem or short title to

any extent whatsoever. However, if any insured bank desires to use the emblem

or short title, it may do so in any of its advertisements and on any of its bank supplies.

Since the approved emblem contains the official advertising statement in the outside circle, its use in the type of advertisements listed in subsection (c), Section 3

of this regulation will satisfy the mandatory requirements of that Section.

Any insured bank may, in addition to the requirements of this regulation, use any

proper advertising of insurance of its deposits. For example, as an addition to the

official advertising statement, any insured bank may, at its option, use the following

in any of its advertisements:

“ Deposits in this bank are insured with

maximum insurance of $5000 for each depositor”

Further, in the case of display signs in the banking offices which, under the provisions of this regulation, are not required to include the official advertising statement,

any insured bank may use, for example, any of the following:

1. “ The Federal Deposit Insurance Corporation insures deposits in this bank

with $5000 maximum insurance for each depositor.”

2. “ Deposits in this bank are insured by the Federal Deposit Insurance Corporation with $5000 maximum insurance for each depositor.”

3. Electric sign or other display reproductions of the official sign.

Sectio n 5

Penalties

No bank will violate any provision of paragraph (2), subsection (v), Section 12B

of the Federal Reserve Act, as amended, or any provisions of this regulation if it

complies with the provisions of Sections 2 and 3 of this regulation. No penalty will

be imposed for any violation of the provisions of this regulation until the bank has

been given an opportunity to be heard before the Board of Directors of this Corporation.

R U L E IN R E D IS P L A Y A D V E R T IS E M E N T S IN B AN K D IR E C T O R IE S

Adopted by the Board of Directors on December 16, 1935

“ If any insured bank uses a display advertisement in any bank directory on a page

where there are bank listings, whether in heavy or other type, the official advertising

statement or the approved emblem is not required to be used in connection therewith; provided, the name of the insured bank appears in the listings in the directory

and there appears on each page of the directory on which there are listings, whether

in heavy or other type, a symbol or other descriptive matter which indicates membership of the bank in the Federal Deposit Insurance Corporation.”

T H E P A Y M E N T O F D E P O S IT S AN D IN T E R E S T T H E R E O N B Y

IN S U R E D N O N M E M B E R B A N K S

REGULATION IV

Approved December 21, 1935

Amended January 23, 1936

Effective February / , 1936

( Superseding Regulations B and C of 1934 Series')

A u th o r ity for a n d Scope of R eg u la tio n

This regulation is issued under authority of paragraph (8), subsection (v) of Section 12B of the Federal Reserve Act, as amended, which is published in the Appendix

hereto.

This regulation relates to the payment of deposits and interest thereon by insured

nonmember banks. This regulation is not applicable to banks which are members

of the Federal Reserve System. Regulation Q, prescribed by the Board of Governors of the Federal Reserve System for banks which are members of that System, is

not applicable to insured banks which are not members of the Federal Reserve

System, except to the extent that the State law of a particular State provides otherwise.

The provisions of this regulation do not apply to any deposit in a bank located

outside of or payable only at a bank's office which is located outside of the States of

the United States and the District of Columbia.

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Section 1

Definitions

(a) Demand deposits. The term “ demand deposit” includes every deposit which

is not a “time deposit” or “ savings deposit,” as defined below.

(b) Time deposits. The term “time deposits” means “time certificates of deposit” and “ time deposits, open account,” as defined below.

(c) Time certificates of deposit. The term “ time certificate of deposit,” means a

deposit evidenced by a negotiable or non-negotiable instrument which provides on

its face that the amount of such deposit is payable:

(1) On a certain date, specified in the instrument, not less than 30 days after the

date of the deposit; or

(2) At the expiration of a specified period not less than 30 days after the date of

instrument; or

(3) Upon written notice to be given not less than 30 days before the date of repayment.1

(d) Time deposits, open account. The term “ time deposit, open account” means

a deposit, other than a “ time certificate of deposit” or a “ savings deposit,” with

respect to which there is in force a written contract with the depositor that neither

the whole nor any part of such deposit may be withdrawn, by check or otherwise,

prior to the date of maturity, which shall be not less than 30 days after the date of

the deposit,2 or prior to the expiration of the period of notice which must be given by

the depositor in writing not less than 30 days in advance of withdrawals.3

(e) Savings deposits. The term “savings deposit” means a deposit evidenced by

a pass book consisting of funds (i) deposited to the credit of one or more individuals

or of a corporation, association, or other organization operated primarily for religious,

philanthropic, charitable, educational, fraternal, or other similar purposes and not

operated for profit,4 or (ii) in which the entire beneficial interest is held by one or

more individuals or by such a corporation, association, or other organization and in

respect to which—

(1) The depositor is required, or may at any time be required, by the bank to

give notice in writing of an intended withdrawal not less than 30 days before

such withdrawal is made; or the bank consistently continues to adhere to a

practice existing prior to January 23, 1936, of requiring notice of at least 15

days before permitting withdrawal;

(2) Withdrawals are permitted in only two ways, either upon presentation of the

pass book, through payment to the person presenting the pass book, or without presentation of the pass book, through payment to the depositor himself

but not to any other person, whether or not acting for the depositor.5

The provisions of (i) and (ii) of this subsection (e), limiting savings deposits to

funds of certain classes of persons shall not be applicable to deposits received and

credited on or before February 1, 1936, to accounts evidenced by pass books in

insured nonmember banks and these deposits, together with interest subsequently

payable on such deposits, less any withdrawals from such accounts, may be classed

by insured nonmember banks as savings deposits under the terms of this subsection,

even though such deposits belong to an association, organization, or corporation

organized for profit. The said provisions of (i) and (ii), however, shall be applicable

to deposits received subsequent to February 1, 1936, whether or not such deposits

are credited to an account existing prior to February 1, 1936.

!If the certificate of deposit provides merely that the bank reserves the right to require notice of not 

less than 30 days before any withdrawal is made, the bank m ust require such notice before perm itting 

withdrawal.

2Deposits, such as Christmas club accounts and vacation club accounts, which are made under written contracts providing that no withdrawal shall be made until a certain num ber of periodic deposits 

have been made during a period of not less than 3 months, constitute “ time deposits, open account” 

even though some of the deposits are made within 30 days from the end of such period.

3If a deposit be made with respect to which the bank merely reserves the right to require notice of 

not less than 30 days before withdrawal is made, the bank must require such notice to be given before 

perm itting withdrawal.

4Deposits in joint accounts of tw o or more individuals may be classified as savings deposits if they

meet the other requirements of the above definition, but deposits of a partnership operated for profit 

may not be so classified. Deposits to the credit of an individual of funds in which any beneficial interest is held by a corporation, partnership, association, or other organization operated for profit or not 

operated primarily for religious, philanthropic, charitable, educational, fraternal, or other similar purposes 

may not be classified as savings deposits.

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REGULATIONS 97

The presentation by any officer, agent, or employee of the bank of a pass book or a

duplicate thereof retained by the bank or by any of its officers, agents, or employees

is not a presentation of the pass book within the meaning of this regulation except

where the pass book is held by the bank as a part of an estate of which the bank is a

trustee or other fiduciary, or where the pass book is held by the bank as security for

a loan. If a pass book is retained by the bank, it may not be delivered to any person

other than the depositor for the purpose of enabling such person to present the pass

book in order to make a withdrawal, although the bank may deliver the pass book to

a duly authorized agent of the depositor for transmittal to the depositor.

Every withdrawal made upon presentation of a pass book shall be entered in the

pass book at the time of the withdrawal, and every other withdrawal shall be entered in the pass book as soon as practicable after the withdrawal is made.

(f) Interest. The term “interest” means a payment or credit which is made or

furnished by a bank as consideration for the use of the funds constituting a deposit.

The term “ interest” includes any direct or indirect payment by the bank of the

purchase price of premiums given to depositors or prospective depositors in connection with obtaining deposits.

The term “ interest” does not include the payment or absorption of taxes upon

deposits, whether levied against the bank or the depositor, nor payment or absorption of premiums on surety bonds securing deposits where such bonds are required

by or under authority of law.

Sectio n 2

Demand, Deposits

(a) Interest prohibited. Except as hereinafter provided, no insured nonmember

bank shall, directly or indirectly, by any device whatsoever, pay any interest on any

demand deposit.

(b) Exceptions. The prohibition stated in subsection (a) above does not apply

to—

(1) Payment of interest accruing before August 24, 1937, on any deposit made by

a “ savings bank” 6 as defined in Section 12B of the Federal Reserve Act, as

amended, or by a mutual savings bank;

(2) Payment of interest accruing before August 24,1937, on any deposit of public

funds7 made by or on behalf of any State, county, school district, or other

subdivision or municipality, or on any deposit of trust funds, if the payment

of interest with respect to such deposit of public funds or of trust funds is required by State law when such deposits are made in State banks;

(3) Payment of interest in accordance with the terms of any certificate of deposit

or other contract which was lawfully entered into in good faith before February 1, 1936, (or, if the bank became an insured nonmember bank thereafter,

before the date upon which it became an insured nonmember bank) which

was in force on such date, and which may not legally be terminated or modified by such bank at its option and without liability; but no such certificate of

deposit or other contract may be renewed or extended unless it be modified to

eliminate any provision for the payment of interest on demand deposits, and

every insured nonmember bank shall take such action as may be necessary, as

soon as possible consistently with its contractual obligations, to eliminate

from any such certificate of deposit or other contract any provision for the

payment of interest on demand deposits.

(c) Deposits in “ savings banks” 6 in specifically designated deposit accounts with

respect to which withdrawal by checking is permitted in accordance with paragraph

(7), subsection (c), Section 12B of the Federal Reserve Act, as amended, shall for the

purposes of this regulation be classed as demand deposits.

Presentation of a pass book may be made over the counter or through the mails; and paym ent 

may be made over the counter, through the mails or otherwise, subject to the lim itations of paragraph

(2), subsection (e), Section 1 as to the person to whom such paym ent may be made.

6Section 12B (c) (7) of the Federal Reserve A ct which defines the term “ savings bank” is quoted in 

the Appendix hereto.

7Deposits of moneys paid into State courts by private parties pending the outcom e of litigation are 

not deposits of “ public funds,” within the meaning of the above provision.

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98 FEDERAL DEPOSIT INSURANCE CORPORATION

Section 3

Maximum Rate of Interest on Time and Savings Deposits

(a) Maximum rate prescribed from time to time. Except in accordance with the

provisions of this regulation, no insured nonmember bank shall pay interest on any

time deposit or savings deposit in any manner, directly or indirectly, or by any

method, practice, or device whatsoever. No insured nonmember bank shall pay

interest on any time deposit or savings deposit at a rate in excess of such applicable

maximum rate as the Board of Directors of the Federal Deposit Insurance Corporation shall prescribe from time to time; and any rate or rates which may be so prescribed by the Board will be set forth in supplements to this regulation, which will be

issued in advance of the date upon which such rate or rates become effective.

(b) Modification of contracts to conform to regulation. No certificate of deposit

or other contract shall be renewed or extended unless it be modified to conform to

the provisions of this regulation, and every insured nonmember bank shall take

such action as may be necessary, as soon as possible consistently with its contractual obligations, to bring all of its outstanding certificates of deposit or other

contracts into conformity with the provisions of this regulation.

(c) Savings deposits received during first five days of month. An insured nonmember bank may pay interest on a savings deposit received during the first five

days of any calendar month at the applicable maximum rate prescribed pursuant to

the provisions of subsection (a) of this section, calculated from the first day of such

calendar month until such deposit is withdrawn or ceases to constitute a savings

deposit under the provisions of this regulation, whichever shall first occur.

(d) Continuance of time deposit status. A deposit which was a time deposit at

the date of deposit continues to be such until maturity although it has become payable within 30 days, and interest at a rate not exceeding that prescribed pursuant to

the provisions of subsection (a) of this section may be paid until maturity upon such

deposit. A time deposit or a savings deposit, with respect to which notice of withdrawal has been given, continues to be such until the expiration of the period of such

notice, and interest may be paid upon such deposit until the expiration of the period

of such notice at a rate not exceeding that prescribed pursuant to the provisions of

subsection (a) of this section. Interest at a rate not exceeding that prescribed pursuant to the provisions of subsection (a) of this section may be paid upon savings

deposits with respect to which notice of intended withdrawal has not actually been

required or given. No interest shall be paid by an insured nonmember bank on any

amount which by the terms of any certificate or other contract, or agreement, or

otherwise, the bank may be required to pay within 30 days from the date on which

such amount is deposited in such bank,8 except as to savings deposits with respect

to which the bank consistently continues to adhere to a practice existing prior to

January 23, 1936, of requiring notice of at least 15 days before permitting withdrawal.

(e) No interest after maturity or expiration of notice. Exception. No interest

shall be paid on any time or savings deposit for any period subsequent to maturity,

whether such deposit matures by its terms on a specific date or at the expiration of a

notice period pursuant to written notice actually given, except if a time certificate is

renewed within 10 days after maturity, the renewal certificate9 may draw interest

from the maturity date of the matured certificate.

Section 4

Payment of Time Deposits before Maturity

(a) Time deposits payable on a specified date. No insured nonmember bank

shall pay any time deposit, which is payable on a specified date, before such specified

date, except as provided in subsection (d) of this section.

(b) Time deposits payable after a specified period. No insured nonmember bank

shall pay any time deposit, which is payable at the expiration of a specified period,

before such period has expired, except as provided in subsection (d) of this section.

8Deposits, such as Christmas club accounts and vacation club accounts, which are made under written contracts providing that no withdrawal shall be made until a certain number of periodic deposits 

have been made during a period of not less than 3 months, constitute “ time deposits, open account” 

even though some of the deposits are made within 30 days from the end of such period.

9W here a time certificate is renewed within 10 days after maturity, the renewal certificate may be 

dated back to the maturity date of the matured certificate.

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REGULATIONS 99

(c) Time deposits payable after a specified notice. No insured nonmember bank

shall pay any time deposit, with respect to which notice is required to be given a

specified period before any withdrawal is made, until such required notice has been

given and the specified period thereafter has expired, except as provided in subsection

(d) of this section.

(d) Loans upon security of time deposits. An insured nonmember bank may

make a loan to the depositor upon the security of his time deposit, provided that the

rate of interest on such loan shall be not less than 2 percent per annum in excess of

the rate of interest on the time deposit.

Where a loan to the depositor upon the security of his time deposit upon terms

satisfactory to the insured nonmember bank and the depositor cannot be arranged,

and where the depositor signs a written statement to be kept in the files of the bank

that he is in need of money represented by the time deposit before the maturity

thereof, stating the definite amount needed, the time deposit may be paid before

maturity to the extent required to meet such need, but the depositor shall forfeit

accrued and unpaid interest for a period of not less than three months on the amount

withdrawn. When a portion of a time certificate of deposit is paid before maturity,

the certificate shall be cancelled and a new certificate shall be issued for the unpaid

portion of the deposit, with the same terms, rate, date, and maturity as the original

deposit.

Sectio n 5

Notice of Withdrawal of Savings Deposits

(a) Requirements regarding notice. An insured nonmember bank shall observe

the requirements set forth as follows in requiring notice of intended withdrawal of any

savings deposit or part thereof or in permitting withdrawal without requiring such

notice:

(1) If an insured nonmember bank pay any amount or percentage of the savings

deposits of any depositor without requiring such notice, it shall, upon request,

and without requiring such notice, pay the same amount or percentage, of

the savings deposits of every other depositor, subject to the same notice

requirement, except if the bank changes its practice in accordance with

subsection (b) of this section.

(2) If an insured nonmember bank requires such notice before the payment of

any amount or percentage of the savings deposits of any depositor, it shall

require such notice before the payment of the same amount or percentage

of the savings deposits of any other depositor, subject to the same notice

requirement, except if the bank changes its practice in accordance with

subsection (b) of this section.

Even though the bank’s practice is to require notice, an insured nonmember bank

is not prevented by this regulation from paying during the next succeeding interest

period without requiring notice of withdrawal interest on a savings deposit which

has accrued during the preceding interest period.

(b) Requirements regarding change of practice. No insured nonmember bank

shall change its practice with respect to the requiring or not requiring of notice of

intended withdrawal of savings deposits, except after duly recorded action of its

board of directors or of its executive committee properly authorized, and no practice

in this respect shall be adopted which does not conform to the requirements of

paragraphs (1) and (2) of this section.

(c) Change of practice for purpose of discrimination. No change in the practice

of an insured nonmember bank with respect to the requiring or not requiring of

notice of intended withdrawal of savings deposits shall be made for the purpose of

discriminating in favor of or against any particular depositor or depositors.

(d) Requirements applicable although no interest paid. An insured nonmember

bank shall observe the requirements of this section with respect to savings deposits

even though no interest be paid on such deposits.

(e) Loans upon security of savings deposits. An insured nonmember bank may

make a loan to any of its depositors upon the security of his savings deposits, provided that if the bank’s practice is to require notice before permitting withdrawal

of any amount or percentage of the savings deposits of any depositor, it shall require

like notice before permitting a loan on the security of the same amount or percentage

of such deposits.

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

A p p e n d i x

Statutory Provisions

Paragraph (8), subsection (v) of Section 12B of the Federal Reserve Act, as

amended, provides as follows:

(8) The board of directors shall by regulation prohibit the payment of interest

on demand deposits in insured nonmember banks and for such purpose it may define

the term “ demand deposits” ; but such exceptions from this prohibition shall be

made as are now or may hereafter be prescribed with respect to deposits payable on

demand in member banks by section 19 of this Act, as amended, or by regulation

of the Board of Governors of the Federal Reserve System. The board of directors

shall from time to time limit by regulation the rates of interest or dividends which

may be paid by insured nonmember banks on time and savings deposits, but such

regulations shall be consistent with the contractual obligations of such banks to

their depositors. For the purpose of fixing such rates of interest or dividends, the

board of directors shall by regulation prescribe different rates for such payment on

time and savings deposits having different maturities, or subject to different conditions respecting withdrawal or repayment, or subject to different conditions by

reason of different locations, or according to the varying discount rates of member

banks in the several Federal Reserve districts. The board of directors shall by

regulation define what constitutes time and savings deposits in an insured nonmember bank. Such regulations shall prohibit any insured nonmember bank from

paying any time deposit before its maturity except upon such conditions and in

accordance with such rules and regulations as may be prescribed by the board of

directors, and from waiving any requirement of notice before payment of any

savings deposit except as to all savings deposits having the same requirement. For

each violation of any provision of this paragraph or any lawful provision of such

regulations relating to the payment of interest or dividends on deposits or to withdrawal of deposits, the offending bank shall be subject to a penalty of not more than

$100, recoverable by the Corporation for its use.

Paragraph (7), subsection (c) of Section 12B of the Federal Reserve Act, as

amended, provides as follows:

(c) As used in this section—-

(7) The term “ savings bank” means a bank (other than a mutual savings bank)

which transacts its_ ordinary banking business strictly as a savings bank under State

laws imposing special requirements on such banks governing the manner of investing

their funds and of conducting their business: Provided, That the bank maintains,

until maturity date or until withdrawn, all deposits made with it (other than funds

held by it in a fiduciary capacity) as time savings deposits of the specific term type

or of the type where the right is reserved to the bank to require written notice before

permitting withdrawal: Provided further, That such bank to be considered a savings

bank must elect to become subject to regulations of the Corporation with respect

to the redeposit of maturing deposits and prohibiting withdrawal of deposits by

checking except in cases where such withdrawal is permitted by law on the effective

date from specifically designated deposit accounts totaling not more than 15 per

centum of the bank’s total deposits.

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REGULATIONS 101

M A X IM U M R A T E S OF IN T E R E S T P A Y A B L E ON T IM E AN D SA V IN G S D E P O S IT S

B Y IN SU R E D N O N M E M B E R B A N K S

SUPPLEM ENT TO REG U LATIO N IV

Effective February / , 1936

Pursuant to the provisions of paragraph (8), subsection (v). Section 12B of the

Federal Reserve Act, as amended, and Section 3 of its Regulation IV, the Board of

Directors of the Federal Deposit Insurance Corporation hereby prescribes the

following maximum rates1 of interest payable by insured nonmember banks on

time and savings deposits:

(1) Maximum rate of 2 Y2 percent. No insured nonmember bank shall pay

interest accruing after February 1,1936, at a rate in excess of 23^> percent per annum,

compounded quarterly,2 regardless of the basis upon which such interest may be

computed,—

(a) On any savings deposit,

(b) On any time deposit having a maturity date six months or more after the

date of deposit or payable upon written notice of six months or more.

(c) On any Postal Savings deposit which constitutes a time deposit,

except that an insured nonmember bank may pay interest on any such deposits in

accordance with the terms of any certificate of deposit or other contract which was

entered into before February 1, 1936, (or, if the bank becomes an insured nonmember bank thereafter, before the date upon which it becomes an insured nonmember bank) which was in force on such date and which may not legally be terminated or modified by such bank at its option and without liability.

(2) Maximum rate of 2 percent. No insured nonmember bank shall pay interest accruing after February 1, 1936, at a rate in excess of 2 percent per annum,

compounded quarterly, regardless of the basis upon which such interest may be

computed,—

(a) On any time deposit (except postal savings deposits which constitute time

deposits) having a maturity date less than six months and not less than

ninety days after the date of deposit or which is originally or becomes payable

upon written notice of less than six months and not less than ninety days,

except that an insured nonmember bank may pay interest on such deposits in

accordance with the terms of any certificate of deposit or other contract which was

entered into before February 1,1936, (or, if the bank becomes an insured nonmember

bank thereafter, before the date upon which it becomes an insured nonmember

bank) which was in force on such date and which may not legally be terminated

or modified by such bank at its option and without liability.

(3) Maximum rate of 1 percent. No insured nonmember bank shall pay interest accruing after February 1, 1936, at a rate in excess of 1 percent per annum,

compounded quarterly, regardless of the basis upon which such interest may be

computed,—

(a) On any time deposit (except postal savings deposits which constitute time

deposits) having a maturity date less than ninety days after the date of

or which is originally or becomes payable upon written notice of less than

ninety days,

except that an insured nonmember bank may pay interest on such deposits in

accordance with the terms of any certificate of deposit or other contract which was

entered into before February 1,1936, (or, if the bank becomes an insured nonmember

bank thereafter, before the date upon which it becomes an insured nonmember

bank) which was in force on such date and which may not legally be terminated

or modified by such bank at its option and without liability.

(4) Banks which on January 23, 1936, have outstanding certificates of indefinite

maturities representing deposit liabilities drawing interest as savings deposits must

within one year from February 1, 1936, discontinue to pay thereon the rate applicable hereunder to savings deposits unless meanwhile the same be converted into

savings deposits as defined in this regulation.

iThe maximum rates of interest payable by insured nonmember banks on tim e and savings deposits 

as prescribed herein are not applicable to any deposit which is payable only at an insured nonm em ber 

bank or at an office of an insured nonm em ber bank located outside of the States of the United States and 

the District of Colum bia.

2This lim itation is not to be interpreted as preventing the com pounding of interest at other than 

quarterly intervals, provided that the aggregate amount of such interest so com pounded does not exceed 

the aggregate am ount of interest at the rate above prescribed when com pounded quarterly.

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

Miscellaneous rules, resolutions, and interpretations. In addition to the regulations listed above, the Board of Directors during 

1935 adopted the following rules and resolutions:

R U L E IN RE D E P O S IT S E V ID E N C E D B Y N E G O T IA B L E IN S T R U M E N T S

Adopted October 1, 1935

If any insured deposit obligation of a bank be evidenced by a negotiable certificate

of deposit, negotiable draft, negotiable cashier’s or officer’s check, negotiable certified check or negotiable travelers check or letter of credit, the owner of such

deposit obligation will be recognized for all purposes of claim for insured deposits to

the same extent as if his name or interest was disclosed on the records of the bank

provided the instrument was in fact negotiated to such owner prior to the date of

the closing of the bank. Affirmative proof of such negotiation must be offered in

all cases to substantiate the claim.

R U L E IN RE R E P O R T IN G FO R A S S E S S M E N T PU R PO SE S D E P O S IT L IA B IL IT IE S

O F A BANK W H IC H H A V E BEEN A S S U M E D B Y A N O T H E R B AN K

Adopted November 7, 1935

The deposit liabilities of one bank, if assumed by a second bank, will, except to the

extent that depositors of the first bank by affirmative action signify their express

intention to hold the first bank liable as debtor, be presumed for assessment purposes to cease being deposit liabilities of the first bank on the date the assumption

becomes effective and be presumed for assessment purposes to become deposit

liabilities of the second bank on the same date.

R E S O L U T IO N D E S IG N A T IN G A G E N T S O F T H IS C O R P O R A T IO N U PO N

W H O M SE R V IC E OF P R O CE SS M A Y BE M A D E .

Adopted December 21, 1935

Resolved, That pursuant to the provisions of paragraph (4), subsection (j) of

Section 12B of the Federal Reserve Act, as amended, the following persons be and

they hereby are designated as agents for this Corporation upon whom service of

process may be made in the States set opposite their respective names and that

process against this Corporation issuing out of any court having jurisdiction in

such States shall be served upon the agent hereby designated for such State:

Address of designated

State Designated agent agent in said State

Alabama......... . .. Adams, Thomas F .............. 1515 Milner Crescent

Birmingham

Arkansas. . . . . . . Clark, Rex............................. .. 2500 Marshall Avenue

Little Rock

California. . . . . .. Funsten, William P............

Supv. Examiner

. , 516 Federal Reserve Bank Bldg.

San Francisco

Colorado. . . . . . . George, Leonard A ............ , , 226 Republic Bldg.

Denver

Florida............ . . . Anderson, W m . S ................ , . . Tallahassee

Georgia............ . .. Roberts, W . Clyde.............

Supv. Examiner

. . . 625 First National Bank Bldg.

Atlanta

Illinois............. . . . McDowell, Wesley C........

Supv. Examiner

. . . 625 Federal Reserve Bank Bldg

Chicago

Indiana............ . . . Ely, Kenneth P................... 817 Lincoln W ay West

Mishawaka

Iowa................. . .. Lettow, Frank A ................. , State Capitol Bldg.

Des Moines

Kansas............ Wilson, William M ............ . . . P. 0 . Building

Salina

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REGULATIONS 103

Kentucky.............. Kirby, Maurice H ................... 2066 Eastern Parkway

Louisville

Louisiana.............. Follett, Edw. Fownes............ , Baton Rouge

Maryland.............. Parkerson, Wm. F.................. 1404 Fidelity Bldg.

Baltimore

Massachusetts. . . Stillman, H. M .........................

Supv. Examiner

, Room 865, 10 P. 0 . Square

Boston

Michigan............... Horak, Joseph E ...................... Detroit-Leland Hotel

Detroit

Minnesota............ Johnson, J. L ............................

Supv. Examiner......................

1030 Minnesota Bldg.

St. Paul

Mississippi............ Rainer, Walton F .................... Walthall Hotel

Jackson

Missouri................ Sailor, Vance L .........................

Supv. Examiner

415 American Trust Bldg.

St. Louis

Nebraska.............. Van Horn, Maurice K ........... P. O. Building

Lincoln

New Jersey.......... DuBois, Nathan S.................. 424 P. O. Building

Trenton

New Y ork............. Penn, David V .........................

Supv. Examiner

518 Federal Reserve Bank Bldg.

New York City

North Carolina. . Prillaman, Rufas A ................. 807 Commercial National Bank

Raleigh

North Dakota. . . Peterson, C. F .......................... Grand Forks

Ohio........................ Stroefer, L. F............................

Supv. Examiner

529 Huntington Bank Bldg.

Columbus

Oklahoma............. Turner, Harry M .................... Security National Bank Bldg.

Clinton

Oregon................... Stoner, Albert L ...................... 404 Title & Trust Bldg.

Portland

Pennsylvania. . . . Bradley, Richard..................... 223 Schuylkill St.

Harrisburg

South Carolina.. . Milne, Wm. T ........................... 703 Carolina Life Ins. Co. Bldg.

Columbia

Tennessee.............. Heflin, John J........................... 237 Buena Vista Place

Memphis

Texas...................... Davis, L. J.................................

Supv. Examiner

Federal Reserve Bank Bldg.

Dallas

Utah....................... Barton, Chesley....................... Salt Lake City

Virginia................. Owens, Walter J......................

Supv. Examiner

807 Central National Bank Bldg.

Richmond

Washington......... Comer, Paul W ........................ 403 Empire State Bldg.

Spokane

West Virginia___ French, David E., Jr............. 408 Charleston N at’l Bank Bldg.

Charleston

Wisconsin.............. Hopkins, R. L ...........................

Supv. Examiner

502 State Street

Madison

Further Resolved, That the right is reserved to revoke any designation hereby

made, and that the designation and authority of any agent, without further action

by this Corporation, shall be revoked forthwith upon termination of the employment

of such agent by this Corporation or upon the permanent assignment or removal

of such agent to another State.

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

REGULATIONS AND RULINGS OF THE BOARD OF GOVERNORS

OF THE FEDERAL RESERVE SYSTEM

During 1935 the Board of Governors of the Federal Reserve System 

revised and reissued several of its regulations. Most of the revisions 

were made necessary by provisions of the Banking Act of 1935. The 

addition of clarifying amendments, interpretations, and rulings 

accounted for the other changes. There follows a brief description 

of each of the Board's revised regulations which affects the operations 

of insured banks not members of the Federal Reserve System as well 

as of banks members of the System.1 Complete texts of the regulations and rulings are available upon request at any of the Federal 

Reserve banks and at the Washington office of the Board of Governors.

Regulation H— Membership of State banking institutions in the

Federal Reserve System. The revision of Regulation H relating to 

membership of State banking institutions in the Federal Reserve 

System became effective January 1, 1936. The revised regulation 

incorporates a number of changes made necessary by recent amendments to the law. The standard conditions of membership to be 

accepted by State institutions upon admission to the System were 

revised and simplified.

Regulation P—Holding company affiliates—voting permits. Regulation P relating to holding company affiliates and voting permitswas amended, effective January 1, 1936, giving effect to certain 

changes, chiefly of a technical nature, made necessary by amendments 

to the law contained in the Banking Act of 1935.

Amendments to Regulation T—Extension and maintenance of

credit by brokers, dealers, and members of national securities

exchanges. Although Regulation T was not reissued by the Board 

of Governors in 1935, six amendments to that regulation were approved during the year. Of these amendments four became effective 

on May 10, 1935, one on August 8,1935, and one on October 29,1935.

FORMS AND INSTRUCTIONS

There were no basic changes during 1935 in the forms or instructions 

used by the Corporation in assembling reports of condition and reports 

of earnings and dividends from insured State banks not members of the 

Federal Reserve System. Owing to# the revised plan of assessment 

provided for the permanent plan of insurance in the Banking Act of 

1935, however, it was found necessary to revise the form of certified 

statement used by insured banks to report their deposit liabilities, 

and to provide forms to serve as basic supporting records for the certified statement. These forms and instructions for their use are 

reproduced below.

Basic records, Forms 555 and 556. Form 555, “ Tabulation of the 

Assessment Base” , must be maintained and preserved as a permanent 

record by all insured banks. Form 556, “ Schedule Supporting Tabulation of Assessment Base” , or a similar form showing substantially the 

same information, must be kept by all insured banks to support the

l The attention of insured banks not members of the Federal Reserve System is directed also to Regulation

U, Loans by banks for the purpose of purchasing or carrying stocks registered on a national securities exchange, approved by the Board of Governors effective May 1, 1936.

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FORMS AND INSTRUCTIONS 105

item, “ Total deposit liabilities” , on Form 555, and by all banks desiring to take advantage of permissible deductions to support any items 

of “ Deductions claimed” on Form 555. These forms and instructions 

for their use are reproduced on pages 112-13.

Recapitulation of monthly totals, Form 555A. There is reproduced on page 114 Form 555A, the recapitulation of monthly totals 

from Form 555, which supports and is submitted with the certified 

statement.

Certified statements, Forms 545A and 645A. Of these two forms, 

which are reproduced with instructions on pages 110-11 and 115-17, 

Form 545A is the certified statement submitted on January 15, 1936, 

by banks which were insured at the inception of the permanent plan of 

insurance on August 23, 1935, while Form 645A is the statement 

submitted by banks becoming insured after August 23.

IN STRUCTIONS FOR PREPARING CERTIFIED STATEM ENT—

PART TW O — AND SUPPORTING SCHEDULE

(For facsimile of forms see pages 112-13)

STA TU TO R Y PROVISIONS

Paragraphs (1), (2), and (3) subsection (h), of Section 12B of the Federal Reserve

Act, as amended, provide in part as follows:

(1) “ * * * Each insured bank shall, as a condition to the right to deduct

any specific uncollected item in determining its assessment base, maintain such

records as will readily permit verification of the correctness of the particular

deduction claimed. The Certified Statements required to be filed with the Corporation * * * shall be in such form and set forth such supporting information

as the board of directors shall prescribe. * * *

(2) “ On or before the 15th day of July of each year, each insured bank

shall file with the Corporation a Certified Statement under oath showing for

the six months ending on the preceding June 30 the amount of the assessment base and the amount of the semiannual assessment due to the Corporation, determined in accordance with paragraph (1) of this subsection. Each

insured bank shall pay to the Corporation the amount of the semiannual assessment it is required to certify. On or before the 15th day of January of

each year after 1936 each insured bank shall file with the Corporation a

similar Certified Statement for the six months ending on the preceding December 31 and shall pay to the Corporation the amount of the semiannual

assessment it is required to certify.

(3) “Each bank which becomes an insured bank according to the provisions of subsection (e) or (f) of this section shall, on or before the 15th day of

November 1935, file with the Corporation a certified statement under oath

showing the amount of the assessment due to the Corporation for the period

ending December 31, 1935, which shall be an amount equal to the product of

one-third the annual assessment rate multiplied by the assessment base determined in accordance with paragraph (1) of this subsection, except that the

assessment base shall be the average for the 31 days in the month of October

1935, and payment shall be made to the Corporation of the amount of the

assessment so required to be certified. Each such bank shall, on or before the

15th day of January 1936, file with the Corporation a certified statement under

oath showing the amount of the semiannual assessment due to the Corporation

for the period ending June 30, 1936, which shall be an amount equal to the

product of one-half the annual assessment rate multiplied by the assessment

base determined in accordance with paragraph (1) of this subsection, except

that the assessment base shall be the average for the days of the months of

October, November and December of 1935, and payment shall be made to the

Corporation of the amount of the assessment so required to be certified.”

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

GENERAL

The form of Certified Statement consists of two parts. Part one is a summary of

the computations for determining the assessment and the amount due. Part two

is a supporting schedule for the summary. These forms which are prescribed

pursuant to law make it necessary that the banks maintain records which will be

adequate to reflect their total deposit liabilities as of the close of each calendar day

and the total of deductions claimed.

These instructions relate to the manner of tabulating the information for Part

two of the Certified Statement.

ON OR BEFORE N OVEM BER 15, 1935, banks continuing as insured banks

shall certify an assessment base which shall be the average for the 31 days in the

month of October, 1935, of the difference at the end of each calendar day, between

the total amount of liability of the bank for deposits (without any deduction for

indebtedness of depositors) and the total of such uncollected items as are included

in such deposits and credited subject to final payment. The assessment payable

based on this Certified Statement is for the four months ending December 31, 1935.

ON OR BEFORE JAN UAR Y 15, 1936, banks which continued to be insured

banks after the effective date of the Banking Act of 1935 and which were required

to file a Certified Statement on or before November 15, 1935, shall certify an assessment base which shall be the average for the three months .ending December 31,

1935, of the differences at the end of each calendar day between the total amount

of the liability of the bank for deposits (without any deduction for indebtedness

of depositors) and the total of such uncollected items as are included in such deposits

and credited subject to final payment. The assessment payable based on this

Certified Statement is for the six months ending June 30, 1936.

The information accumulated for the month of October must be retained for use

by the bank in computing the assessment due for the six months ending June 30,

1936, based on the average deposits for the three months ending December 31, 1935.

The Certified Statement, Part one, to be filed on or before November 15, 1935,

shall be computed on daily balances for the month of October only. Subsequent

Certified Statements, except the one required to be filed on or before January 15,

1936, shall be computed on daily balances for each semiannual period ending June

thirtieth and December thirty-first. The am ounts to be included as daily

balances for Sundays and holidays shall be the same as those for the preceding business day.

FORMS

Necessary forms, furnished by the Corporation, are as follows:

Form 555 CERTIFIED STATEM ENT— PART TW O — Tabulation of Assessm ent Base.

Form 556 CERTIFIED STATEM ENT— PART TW O — Schedule Supporting

Tabulation of Assessment Base.

Form 555 M UST be maintained and preserved as a permanent record by all

insured banks.

Form 556, or a similar form showing substantially the same information and

sufficient to support the item of “ Total Deposit Liabilities” on Form 555 must be

maintained and preserved by all insured banks. The record must show the daily

balances of the respective deposit liability accounts and the total thereof, in support

of the daily total of such items shown on Form 555.

Form 556, or a similar form showing substantially the same information and sufficient to support any items of “ Deductions Claimed” on Form 555, must be maintained and preserved by all insured banks only if the bank desires to take advantage

of permissible^deductions. If this or a similar form is not maintained and preserved

by the bank, its assessment must be based on its total deposit liability without any

deductions otherwise permitted.

A bank operating branch offices must include in its Certified Statement a consolidated summary for all of its branches for the purpose of determining the assessment

base. The bank should advise this Corporation of the names and locations of the

home office and branch offices whose Certified Statements are so consolidated.

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FORMS AND INSTRUCTIONS 107

DEPOSITS

Column A. Total Deposit Liabilities. The totals for the purpose of computing

the assessment base shall include all commercial, checking, savings, time, thrift

accounts, certificates of deposit, officer’s or cashier’s checks, traveler’s checks,

certified checks, outstanding drafts, and letters of credit. Also by express provision

of law (see Section 1 of Regulation I) such totals shall include trust funds held in

the trust department or on deposit in any other department of the bank or redeposited in other banks.

All the item s described m ust be included regardless of whether they are

secured or unsecured or represent private, public, government or postal

savings deposits.

The totals used under this heading must be supported by a tabulation, Form 556,

or other appropriate record in such form that the Corporation’s representatives

may readily trace the various items included therein to the general books of the

banking institution.

DEDUCTIONS

No deduction may be made from total deposit liabilities of any item unless included in total deposit liabilities reported in Column A.

Colum n B. Local Exchanges. Items included in the amounts reported for

total deposit liabilities in Column A, which are represented by checks drawn on

local banks and are credited subject to final payment, may be taken as a deduction

in Column B if uncollected at the close of the business day during which they were

received. Such items may not be presumed to be uncollected for a period longer

than one day. (See Section 3 of Regulation II.)

Colum n C. Outside Exchanges. Items included in the amounts reported

for total deposit liabilities in Column A, which are represented by checks drawn

on out of town banks and are credited subject to final payment, may be taken as a

deduction in Column C while they remain uncollected, provided that they shall be

deemed to be collected within a period not exceeding the time required for collection

provided for in the Federal Reserve time schedule. (See Section 2 of Regulation II.)

Federal Reserve time schedules referred to in Regulation II may be obtained

from the Federal Reserve Bank in the district in which the bank is located.

Colum n D. Re-deposited Trust Funds. Trust funds held by an insured

bank as trustee, executor or in any other fiduciary capacity, which are re-deposited

in another insured bank, may be taken as a deduction in Column D, provided

these amounts have been included in total deposit liabilities in Column A. (See

paragraph (9), subsection (h), Section 12B of the Federal Reserve Act, as amended.)

Deduction may not be made for re-deposited trust funds if it is the practice of the

bank to intermingle with its trust funds any funds held in other than a fiduciary

capacity.

Colum n E. Inter-Branch Accounts. Banks having branches and including

inter-branch accounts in subsidiary deposit ledgers rather than as separate accounts

on the general ledger, may deduct such inter-branch accounts by inserting the

amounts thereof in Column E, provided these amounts have been included in total

deposit liabilities in Column A.

To avoid deposit liability of the same bank being included twice, any item representing a deposit liability payable at a main office or branch of a bank or checks

drawn by a depositor in such main office or branch, if deposited in a different office

or branch of the same bank, may be taken as a deduction from the time of such

deposit until finally cleared.

Colum n F. Other Deductions. Certain other items, such as outstanding

drafts, cashier’s or officer’s checks issued for the payment of expenses, repayment

of borrowed money, etc., which do not represent deposit liabilities as defined in

Regulation I, may be taken as a deduction in Column F provided they have been

included in Column A.

Colum n G. Total Deductions. The total of the items included in columns

B to F inclusive, should be entered in Column G.

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

Colum n H. Deposits for Assessment Base. The difference between the

total deposit liabilities shown in Column A and the total deductions shown in Column

G should be entered in Column H.

SUPPLEMENTAL IN STRUCTIONS

FOR PREPARING CERTIFIED STATEM ENT— PART TW O

{These instructions are supplemental to, and in clarification of, the complete

instructions for the preparation of Certified Statement— Part Two

previously sent to all insured banks.)

FORM 555, CERTIFIED STA TE M E N T— PART TW O, TABU LATIO N OF

ASSESSMENT BASE, MUST BE M A IN TA IN E D CO NTIN U OU SLY B Y ALL

INSURED BAN KS.

Insured banks must file Certified Statements with the Federal Deposit Insurance

Corporation between January first and January fifteenth and between July first and

July fifteenth of each year.

The statement to be filed on or before January fifteenth shall reflect an assessment

based on the average daily deposit liabilities for the six months ending on the preceding December thirty-first. The assessment, payable in advance, is for the six

months ending on the succeeding June thirtieth.

The statement to be filed on or before July fifteenth shall reflect an assessment

based on the average daily deposit liabilities for the six months ending on the preceding June thirtieth. The assessment, payable in advance, is for the six months

ending on the succeeding December thirty-first.

TO TAL DEPOSIT LIABILITIES

Total deposit liabilities, whether public or private, secured or unsecured, must be

included in determining the assessment base.

The amounts to be included as daily balances for Sundays and holidays shall be

the same as those for the preceding business day.

Outstanding drafts. Outstanding drafts drawn on a correspondent or a

Federal Reserve bank, other than those issued for purposes of the bank’s own transactions, such as payment of its expenses, transfer of its own funds, etc., must be

included as deposit liabilities for the actual number of days during which such items

are outstanding. (See Section 2 of Regulation I.)

The amount of deposit liabilities arising from the issuance of drafts must be added

to the amount of deposits Reflected by the bank’s books and included in Column A

of Form 555, even if legally authorized deductions are not claimed.

Overdrafts and “ Cash item s” . Overdrafts are not deductible. If control

accounts for deposit liabilities have been reduced by the amount of overdrafts, the

aggregate amount of such items must be added to the balance shown by the bank’s

books as of the close of business each day.

“ Cash items” are not deductible.

Accounts in excess of $5,000.00. The entire amount of deposit liabilities,

without regard to the insurance limitation of $5,000.00 for the individual depositor,

must be included in determining the assessment base. No deduction may be

claimed for the amounts of accounts in excess of $5,000.00.

Federal Reserve deferred credit account. The daily balance of the Federal

Reserve deferred credit account due to a Federal Reserve bank must be included as

a deposit liability. Drafts drawn on a Federal Reserve bank and credited to this

account may be eliminated from the balance of the deferred credit account reported

as a deposit liability. Drafts representing deposit liabilities in accordance with

Section 2 of Regulation I must be included in deposit liabilities as outstanding drafts

for the actual number of days they are outstanding.

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FORMS AND INSTRUCTIONS 109

DEDUCTIONS

No deduction may be taken for any item not included in total deposit liabilities.

It is not mandatory ffeat banks claim the deductions authorized by law. Any

deductions claimed must be in accordance with regulations relating thereto.

Outstanding drafts representing deposit liabilities must be included as deposit

liabilities regardless of whether deductions are claimed for items in process of collection.

ITEM S IN PROCESS OF COLLECTION

Items credited to a deposit account, subject to final payment, may be claimed as a

deduction for the actual number of days during which such items remain uncollected,

provided that in no event shall the deduction be claimed for a period which exceeds

the time allowed by the current Federal Reserve time schedule for items drawn on

similar points.

Item s not credited to a deposit account. No deduction may be claimed for

items which have not been credited to a deposit account, such as items cashed over

the counter, items representing a bank’s own float, or items not credited to a deposit

account until the collection is made.

Item s not payable upon presentation. No deduction may be claimed for

items such as bonds, coupons, time drafts, etc., which are not payable upon presentation, although they have been credited to a deposit account subject to final payment.

IN STRU CTIO NS FOR PREPARING

CERTIFIED STATEM ENT— PART ONE

Form 545

(For facsimile of form see page 115)

Item s A to H, inclusive. Enter for the respective items, the aggregate amount

of deposit liabilities and deductions claimed for the thirty-one days of October 1935,

extended to the nearest dollar, as shown by the respective columns, A to H inclusive,

on the Certified Statement— Part Two, Tabulation of Assessment Base, Form 555.

Item s I to M , inclusive. Follow the instructions stated on the Certified Statement, Part One, Form 545, for each of the respected items and extend computations

to the nearest cent.

Certification. The certification must be completed in every respect and acknowledged before a notary public.

IN STRU CTIO NS FOR PREPARING

CERTIFIED STATEM ENT— PART ONE

Forms 645 and 645A

(For facsimile of forms see page 116-17)

Item s A to H, inclusive. Enter for the respective items, the aggregate amount

of deposit liabilities and deductions claimed for the first thirty-one days of operation

as an insured bank, extended to the nearest dollar, as shown by the respective columns A to H, inclusive, on the Certified Statement— Part Two, Tabulation of

Assessment Base, Form 555.

Item s I and J. Follow the instructions stated on the Certified Statement, Part

One, Form 645. Extend the computation of item I to the nearest dollar and item

J to the nearest cent.

Certification. The certification must be completed in every respect and sworn

to before a notary public.

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

FIRST CERTIFIED STATEM ENT

The certified statement must be filed on or before the forty-fifth day after the

first day of operation as an insured bank. This certified statement shall show

an assessment base which shall be the average for the first thirty-one days of operation as an insured bank of the differences at the end of each calendar day between

the total amount of liability of the bank for deposits (without any deduction for

indebtedness of depositors) and the total of such uncollected items as are included in

such deposits and credited subject to final payment.

The assessment to be certified shall be the prorated portion of a six months assessment. This prorated portion shall be computed by multiplying the amount equal

to the product of of l/12th of 1 percent of the average daily deposit liabilities so

certified, by a ratio having as denominator the number of days in the six months

period ending on the June 30th or December 31st following its first day of operation

as an insured bank, and having as numerator the number of days from and including

its first day of operation as an insured bank to and including the next succeeding

June 30th or December 31st.

Exam ple:

A bank beginning operation as an insured bank on September 5, 1935, and certifying to an assessment base of $100,000.00 (Item I), would be required to certify

and pay an assessment of $26.72 (Item J), computed as follows:

Item J— Assessment:

(1) Number of days from and including its first day of operation as an insured

bank to and including the next succeeding June 30th or December 31st, 118

(2) Number of days in the six months period ending on the next succeeding June

30th or December 31st, 184

(3) Ratio of (1) to (2) = Jg® = .6413

(4) of l/12th of 1 percent of assessment base, Item I ($ 100,000.00) = $41.66

(5) Assessment remitted herewith ($41.66, obtained in (4) above, multiplied by

.6413, obtained in (3) above) = $26.72

The assessment payable based on this certified statement will be for the period

from the first day of operation as an insured bank to the next succeeding June 30th

or December 31st.

SECOND CERTIFIED STATEM ENT

The second certified statement for a bank becoming an insured bank after August

23, 1935, (except one becoming an insured bank in the month of June or December)

must be submitted on or before the next succeeding January 15th or July 15th, after

the bank became an insured bank. This certified statement shall show an assessment

base which shall be the average for the days between its first day of operation as an

insured bank and the last day of the next succeeding June or December of the differences at the end of each calendar day between the total amount of the liability of

the bank for deposits (without any deduction for indebtedness of depositors) and

the total of such uncollected items as are included in such deposits and credited

subject to final payment. The number of days used in determining the average

shall not be less than thirty-one.

The assessment to be certified shall be H of l/12th of 1 percent of the assessment

base so certified. The assessment payable based on this certified statement is for

the six months ending on the last day of the next succeeding June or December after

the date on which this certified statement is required to be filed.

The second certified statement for a bank becoming an insured bank in the month

of June or December shall show an assessment base which shall be the average for

the first thirty-one calendar days it operates as an insured bank and shall show an

assessment equal to of l/12th of 1 percent of such assessment base. Such bank

shall be required to file its certified statement and pay the assessment shown thereon,

on or before February 15th or August 15th after becoming an insured bank. The

assessment base will be the same as the assessment base for the first certified statement. There will be a difference in the determined assessment because the first

assessment is for only the prorated portion of a semiannual period whereas the second

assessment will be for a full semiannual period.

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Federal Reserve Bank of St. Louis
REGULATIONS 111

The assessment payable based on this certified statement will be for the six

months ending on the last day of the next succeeding June or December after the

date on which this certified statement is required to be filed.

TH IRD AND SUCCEEDING CERTIFIED STATEM ENTS

Each bank becoming an insured bank after August 23, 1935, will be required to

file a certified statement not later than each July 15th and January 15th after it has

filed its second certified statement. Such subsequent certified statements required

by the provisions of paragraph (2) subsection (h), Section 12B of the Federal Reserve Act, as amended, shall show an assessment base which shall be the average for

the six months period ending on June 30th or December 31st of the differences at the

end of each calendar day between the total amount of the liability of the bank for

deposits (without any deduction for indebtedness of depositors) and the total of

such uncollected items as are included in such deposits and credited subject to final

payment. The assessments payable on such certified statements will be for the six

months ending on June 30th or December 31st, following the date the certified

statement is required to be filed.

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Federal Reserve Bank of St. Louis
C E R TIF IE D S T A T E M E N T -P A R T T W O

Form SS5

Federal Deposit Insurance

Corporation

TA B U LA TIO N O F ASSESSM EN T BASE

(This form prescribed by Resolution of the Board of Directors of Federal Deposit Insurance Corporation)

B A N K ____________________________________ M O N TH O F ________________________ 19

DATE

(A)

T O T A L D E P O S IT

LIAB IL IT IES

DEDUCTIONS CLAIMED (H)

D E P O S IT S FOR

A S S E S S M E N T B A SE

(B)

L O C A L

E X C H A N G E S

(C)

O U T S ID E

E X C H A N G E S

(D)

R E-D EPO SITED

T R U S T FU N D S

(E)

IN T E R -B R A N C H

A C C O U N T S

(F)

O T H E R

D E D U C T IO N S

T

Tl

(G

O T A L D

IO N S CL

)

(EDUC-

.A IM E D

1

2

3

4

5

6

28

29

30

31

Tital

THIS TABULATION MUST BE RETAINED BY THE BANK AS A PERMANENT RECORD

112 FEDERAL DEPOSIT INSURANCE CORPORATION

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C E R TIF IE D S T A T E M E N T -P A R T T W O

S U G G E S T E D FO R M FO R

S c h e d u l e S u p p o r t i n g T a b u l a t i o n o f A s s e s s m e n t B a s e

B A N K __________________________________________ M O N TH O F ________________________1 9 _

Detail of Total Deposit Liabilities or Deductions Claimed* Shown on Tabulation of Assessment Base (Form 555)

Form 556

Federal Deposit Insurance

Corporation

1 2 3 4 5 6 7 8 9 1 0

Date T O TA L

1

2

3

4

5

6

27

28

29

30

31

Tatal

....r-. ■ ""— ............... I— 1

U s e S E P A R A T E S H E E T S F O R T O T A L D EP O SIT LIABILITIES A N D T O T A L O F EACH C L A S S O F D E D U C T IO N S C L AIM ED W H E R E T W O O R M O R E G E N E R A L 00

L E D G E R A C C O U N T S A R E C O M B IN E D FOR A N Y ITEM S H O W N O N T H E T A B U L A T IO N F O R A S S E S S M E N T B A S E -F O R M 5 5 5 .

FORMS AND INSTRUCTIONS

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Federal Reserve Bank of St. Louis
RECAPITULATION

OF THE MONTHLY TOTALS OF CERTIFIED STATEM ENT-PART TWO

FOR THE MONTHS OF OCTOBER, NOVEMBER AND DECEMBER 193 5

Form 55SA

- oderol Deposit Insurance

Corporation

BANK

MONTH

OF

( A )

TOTAL DEPOSIT

LIABILITIES

DEDUCTIONS CLAIMED ( H )

DEPOSITS FOR

ASSESSMENT BASE

( B ) LOCAL EXCHANGES

( C ) OUTSIDE EXCHANGES

( D ) RE-DEPOSITED TRUST FUNDS

( E ) INTER-BRANCH ACCOUNTS( F ) OTHER DEDUCTIONS

( G ) TOTAL DEDUC­ TIONS CLAIMED

Oct.

Nov.

Dec.

Total

INSTRUCTIONS

Insert the totals accumulated on Form 555 in the respective columns on this form for each of the months of

October, November and December 1935. Add the amounts

shown in the columns and insert the aggregate amounts

o h Form 545A.

Extend the figures to the nearest dollar

THIS RECAPITULATION MUST BE RETAINED BY THE BANK AS A PERMANENT RECORD

114 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
FORMS AND INSTRUCTIONS 115

Form 5 4 5A Series

Federal Deposit Insurance

Corporation ORIGINAL N o......................................

CERTIFIED STATEM ENT— PART ONE

Based on Deposits for the M onths of October, November and December, 1935

This Certified Statement must be filed with the

Federal Deposit Insurance Corporation, Washington, D. C.

ON OR BEFORE JANUARY 15, 1936

Item

E n ter to tals

show n in

C o lu m n s A to H

o n F orm 555A ,

extended to

nearest do llar.

s

C om pu tation s

to be extended

to nearest

cen t.

K

(Name of bank)

(Location)

S U M M A R Y

____________ Aggregate of Daily Totals

Total Deposit Liabilities..............

Deductions Claimed:

Local Exchanges......... „ ............

Outside Exchanges...................

Re-deposited Trust Funds....

Inter-Branch Accounts..........

Other Deductions Authorized

by Law..

Total Deductions Claimed (Items B to F )............. .

Deposits for Assessment Base (Item A minus Item G )

Assessment Base

(Item H divided by 92— extended to nearest dollar)..

(One half (Y^) of one twelfth (1 /12) of one per cent (1 % ) of

Item I,

41 2 /3 cents for each $1000

of assessment base)..................

Unused Credit from Assessment Previously Paid R emaining on the Books of the

Corporation...... ........... ............. .................................... ...................

L Remittance Enclosed Herewith (Amount equal to excess of

Item J over Item K )................................. ................ ........... ..............

M Unused Credit to be Applied to Subsequent Assessments

(Amount equal to excess of Item K over Item J )..................

C E R T IF IC A T IO N

Pursuant to Section 12B (h) of the Federal Reserve Act, as amended, it is hereby certified by

(Name of banking institution) (City)

___ ___________ _______________ ____ - ............................. .....that its average daily deposit liabilities, less the

(State)

claimed deductions authorized by law, for the ninety-two calendar days of the months of October,

November and December, 1935 amounted to....................................... ................................................ ...........................

(Insert amount in words)

........................ ................................................. ..................-.............. ($.............-....-.............................. )

and the assessment due to the Corporation for the six months ending June 30, 1936, amounted to

(Insert amount in words)

B y.

(Name of banking institution)

(Signature of officer)

(Officer’s title)

......... .........................day of........ ..... .......... ............................... 1936,Personally appeared before me this

..................................................................................................................known to me to be the........... ...................................

(Name of officer) (Officer’s Title)

and upon being duly sworn, says that the foregoing statement is true to the best of his knowledge

and belief.

N O T A R IA L State of......................... ...........................................................................................................................

(Notary Public)

SEAL County of.................................................—M y Commission Expires......................................

DO N O T W R IT E IN SPACE B E L O W

Signature and oath checked

Summary and C. S. compared

Entered

..Item G

..Item H

..Item I

Item J

Item L

C O R R E C TIO N S

Item M □ ............... ....................................................

NOTE.— This form is to be prepared in quadruplicate. Return all except last copy to Federal Deposit

Insurance Corporation, Washington, D. C. Retain quadruplicate for your files.

R E T U R N T H IS C O P Y TO FED ER AL D E P O SIT IN S U R A N C E C O R P O R A TIO N

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

^ J , Form 645 Series................................

Federal Deposit Insurance

Corporation O RIGINAL N o......................................

FIRST CERTIFIED STATEM ENT— PART ONE

For A Bank Becoming An Insured Bank After August 23, 1935

Based on Deposits for the First Thirty-One Days of Its Operation as an

Insured Bank

This Certified Statement must be filed with the

Federal Deposit Insurance Corporation, Washington, D. C.

On or Before the Forty-Fifth Day After Its First Day of Operation as an

Insured Bank

(Name of bank) (Location)

Item and

Instruction

Number

S U M M A R Y

___________ Aggregate of Daily Totals

Total Deposit Liabilities.....

Deductions Claimed:

Local Exchanges..................

Outside Exchanges.............

Redeposited Trust Funds

Inter-Branch Accounts.....

Other Deductions Authorized

by law.

Total Deductions Claimed (Items B to F inclusive)...............

H Deposits for Assessment Base (Item A minus item G )..................

I Assessment Base

(Item H divided by 31).................. .........................................................

J Assessment:

(1) Number of days from and including its first day of

as operation as an insured bank to and including the next

^ to next succeeding June 30th or December 31st,..................

gJo (2) Number of days in the six months period ending on the

Si— succeeding June 3oth or December 31st,..............................

(3) Ratio of (1) to ( 2 ) = ----------------------- = -----------------------

(4) Yi of l / 12th of 1 % of Assessment Base, (Item I)

[Jj sc = $

<*> (5) A sse ssm en t rem itted herew ith (Amount obtained

in (4) above multiplied by ratio obtained in (3) above...

C E R T IF IC A T IO N

Pursuant to Section 12B (h) of the Federal Reserve Act, as amended, it is hereby certified by

(Name of banking institution) (City)

............................. ................................... ............................that its first day of operation as an insured bank was

(State)

on........ ........................................ ...................... ....... ..............., and that its average daily deposit liabilities, less

(M onth) (D ay (Year)

the claimed deductions authorized by law, for the first thirty-one calendar days of its operation as

an insured bank amounted to............... ..................................................................................................................................

(Insert amount in words)

...................................................... ..................................................($................... ................ ...........)

and the assessment due to the Corporation for the period from its first day of operation as an insured

bank to the next succeeding June 30th or December 31st, amounted to.............................................................

By..

(Insert amount in words)

........... -.................................. ($.................................-----...........)

(Name of banking institution)

(Signature of officer)

(Officer’s title)

Personally appeared before me this....................................day of..................................... .............., 19...................

— ............ ....................................... ...................................................... known to me to be the.___________ ________ _____

(Name of officer) (Officer’s title)

and upon being duly sworn, says that the foregoing statement is true to the best of his knowledge

and belief.

Sign ature..........................................................................................

Notary Public, State of........................................................... .

N O T A R IA L County of. .........................................................................................

SE AL M y commission expires..................................................................

_________ DO N O T W R IT E IN SPACE B E LO W _____

Corrections

....................Item G □ $....................................................................

....................Item H □ ....................................................................

.................. Item I □ ....................................................................

Item J □ ....................... ......................................... .

N O T E .— This form is to be prepared in quadruplicate. Return all except last copy to Federal Deposit

Insurance Corporation, Washington, D . C. Retain quadruplicate for your files.

R E T U R N T H IS C O P Y T O FED ER AL D E P O S IT IN S U R A N C E C O R P O R A T IO N

Signature and oath checked

Schedule and C. S. compared

Entered

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Federal Reserve Bank of St. Louis
FORMS AND INSTRUCTIONS 117

Form 6 4 5A Series................................

Federal Deposit XT

Insurance Corporation ORIGINAL .No......................................

SECOND CERTIFIED STATEM ENT— PART ONE

For A Bank Becoming An Insured Bank After August 23, 1935

Based on Deposits for the Days Between Its First Day of Operation as an

Insured Bank And the Last Day of the Next Succeeding June or December

This Certified Statement must be filed with the

Federal Deposit Insurance Corporation, Washington, D. C.

ON OR BEFORE...........................................

(Name of bank)

(Location)

Item

S U M M A R Y

___________ Aggregate of Daily Totals

/ A

Enter totals I

show n in I B

C olu m n s A to 1C

H on F orm / D

555 \ E

extended to IF

nearest dollar 1

( GV h

i

Total Deposit Liabilities..............

Deductions Claimed:

Local Exchanges.____________

Outside Exchanges..................

Redeposited Trust Funds......

Inter-Branch Accounts..........

Other Deductions Authorized

by Law........................ ...............- _______ _________

Total Deductions Claimed (Items B to F inclusive)

Deposits for Assessments Base (Item A minus item G).

Assessment Base (Extended to nearest dollar)

Item H divided by................... (Number of days from and

including the first day of operation as an insured bank to

and including..........................................................................................)

Assessment (Extended to nearest cent.) K of 1/12 of \% of

Assessment Base (Item I )....................

A R E M IT T A N C E FO R T H E A M O U N T OF T H E ASSESSM E N T (IT E M J) M U S T A C C O M P A N Y TH IS C E R T IF IE D

S T A T E M E N T .

C E R T IF IC A T IO N

Pursuant to Section 12B (h) of the Federal Reserve Act, as amended, it is hereby certified by

(Name of banking institution) (City)

.that its average daily deposit liabilities, less the

(State)

claimed deductions authorized by law, for the— ................................................................. calendar days of

its operation as an insured bank amounted to_____________________________________ ____ ____________________

(Insert amount of Item I in words)

.............................................................. -................. -................($-................. ........................... )

and the assessment (Item J) due to the Corporation for the six months period ending..............................

amounted to..

(Insert amount in words)

- ........ ................................................. ($-

By..

(Name of banking institution)

(Signature of officer)

(Officer’s title)

Personally appeared before me this.. ....... .............day of....................................................., 19.................. ,

........................................................ ...................... ....................... .........known to me to be the................. ..............................

(Name of officer) (Officer’s title)

and upon being duly sworn, says that the foregoing statement is true to the best of his knowledge

and belief.

N O T A R IA L

SEAL

State of...................................................................................... .....................................

(Notary Public)

County of.......... ....................................... M y Commission Expires........

DO N O T W R IT E IN SPACE B E LO W

Signature and oath checked

Schedule and C. S. compared

Entered

C O R R E C TIO N S

Item G $~

Item H

Item I

Item J

NOTE- -This form is to be prepared in quadruplicate.

Insurance Corporation, Washington, D . C.

Return all except last copy to Federal Deposit

Retain quadruplicate for your files.

R E T U R N T H IS C O P Y TO FED ER AL D E P O SIT IN SU R A N C E C O R P O R A T IO N

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PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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EXP LAN ATO R Y NOTE

Sources of data. With the exceptions noted below, all figures relating to national

banks were obtained from the Comptroller of the Currency or the Board of Governors of the Federal Reserve System; figures relating to State banks members of the

Federal Reserve System were obtained from the Board of Governors; and figures

relating to insured banks not members of the Federal Reserve System were obtained

from the banks themselves. Data relating to noninsured banks were obtained from

the Board of Governors of the Federal Reserve System or from Rand McNally

Bankers Directory.

Average deposit figures used in Tables 114 to 120, inclusive, were reported to the

Federal Deposit Insurance Corporation by all insured banks upon certified statements submitted in connection with insurance assessments.

Data concerning insured banks in receivership were taken from the records of the

Federal Deposit Insurance Corporation.

Classification of banks. “ Commercial banks” includes the following groups of

banks: national banks, State (commercial) banks, loan and trust companies, stock

savings banks, private banks under State supervision, and insured industrial and

Morris Plan banks. The term “ commercial State banks” is used to designate all

commercial banks (as defined above) exclusive of national banks.

The term “insured banks” is used to include all banks insured by the Federal

Deposit Insurance Corporation; the term “noninsured banks” to include all banks

not so insured.

The figures for banks not members of the Federal Reserve System used in this

Report differ from those compiled by the Board of Governors of the Federal Reserve

System due to the inclusion here of some insured industrial banks which are excluded

from figures compiled by the Board of Governors.

The classification of mutual savings banks conforms with that adopted by the

Board of Governors of the Federal Reserve System except for one bank classified as a

mutual savings bank by that Board which is insured and classified by the Federal

Deposit Insurance Corporation as a commercial bank. Inclusion of banks in the

tables as mutual savings banks does not indicate that they are eligible in every case

for insurance as mutual savings banks by the Federal Deposit Insurance Corporation.

Branches. The term “ branches” is used in accordance with the definition in

paragraph (15), subsection (c) of Section 12B of the Federal Reserve Act, 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.”

121

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Federal Reserve Bank of St. Louis
NUMBER OF BANKS AND BRANCHES £o

to

T a b le 101. N u m b e r o f O p e r a t i n g B a n k s a n d B r a n c h e s , D e c e m b e r 31, 1935

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK IN EACH STATE AND POSSESSION

All banks and branches Commercial banks and branches

M utual savings banks

and branches

Percent of banks and

branches insured

Insured

Total Insured

Noninsured Total

Total

Members F. R.

System N ot

members

F. R.

System

Noninsured

Total Insured Noninsured

All

banks

Com ­

mercial

banks

1 M utual

savings

banks

N a ­

tional State

U n ited S tates an d Possessions

t o t a l................................................ 19,143

19,059

239

36

228

1,053

156

208

61

52

153

346

86

883

596

17,300 1,843 18,448 17,237 6,713 1,953 8,571 1 ,211 695 63 632 90.4 93.4 9.1

States— t o t a l........................................... 17,296 1,763 18,364 17,233 6,713 1,953 8,567 1,131 695 63 632 90.8 93.8 9.1

A labam a..................................................

Arizona

229

36

219

10 239

36

229

36

75 19 135 10 95.8 95.8

22 3 11 1 0 0 .0 1 00 .0

Arb’QrtcOQ 9 228 219 50 7 162 9 96.1 96.1

California 1,042

141

11 1,053

156

1,042

141

738 152 152 11 99.0 99.0

Colorado 15 81 5 55 15 90.4 90.4

Connecticut 109 99 134 109 57 6 46 25 74 74 52.4 81.3

Delaware.................................................

I cf nf r^nlnmKia

56

52

148

5 58

52

56

52

16

26

6 34

19

2 3 3 91.8 96.6

7 1 0 0 .0 1 00 .0

Florida 5 153 148 51 3 94 5 96.7 96.7

Georgia 282 64 346 282 73 31 178 64 81.5 81.5

Idaho.........................................................

Illinois......................................................

Indiana....................................................

83

864

551

3 86

883

591

83

864

547

33

299

24 26 3 96.5 96.5

19

45

65 500

397

19 97.8 97.8

130 20 44 5 4 1 92.4 92.6 80.0

785

728

465

201

163

697 88 785 697 118 26 553 88 8 8 .8 8 8 .8

460

422

199

268 728 460 190 16 254 268 63.2 63.2

43 465 422 117 10 295 43 90.8 90.8

Louisiana 2 201 199 57 5 137 2 99.0 99.0

M aine....................................................... 120 43 129 114 44 33 37 15 34 6 28 73.6 88.4 17.6

M aryland............................................... 294 263 31 265 261 68 35 158 4 29 2 27 89.5 98.5 6.9

Massachusetts..................................... 546 i 310 236 314 310 189 66 55 4 232 232 56.8 98.7

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Michigan.................................................

M innesota..............................................

M ississippi.............................................

M issouri..................................................

M ontan a.................................................

Nebraska.................................................

N evad a.......... .........................................

New Hampshire..................................

New Jersey............................................

New M exico..........................................

New Y o rk ...............................................

North Carolina....................................

North D a k ota.....................................

Ohio...........................................................

Oklahom a...............................................

Oregon......................................................

Pennsylvania........................................

Rhode Island........................................

South Carolina.....................................

South D akota.......................................

Tennessee...............................................

Texas.........................................................

U ta h ..........................................................

Verm ont..................................................

Virginia....................................................

Washington............................................

W est Virginia.......................................

W isconsin...............................................

W yom ing.................................................

Possessions— t o t a l..............................

A laska......................................................

Hawaii......................................................

Puerto R ic o ...........................................

Virgin I slands of the United States

594 30 624 594

656 36 691 655

239 10 249 239

646 49 695 646

119 1 120 119

378 61 439 378

16 1 17 16

57 54 66 57

519 21 511 503

45 1 46 45

1,395 204 1,417 1,392

325 3 328 325

192 11 203 192

862 21 880 859

387 18 405 387

136 1 136 135

1,175 55 1,210 1,173

44 22 55 44

133 33 166 133

213 1 214 213

363 1C 373 363

805 79 884 805

69 69 69

106 88 88

390 5 395 390

219 9 225 216

172 11 183 172

699 20 714 695

59 59 59

4 80 84 4

2 13 15 2

2 46 48 2

18 18

3 3

624

692

249

695

120

439

17

111

540

46

1,599

328

203

883

405

137

1,230

66

166

214

373

884

69

106

395

228

183

719

59

84

15

48

18

3

137 143

211 15

26 3

87 51

46 21

139 9

13

53 1

268 111

22 4

640 498

49 17

66

280 187

214 1

85 6

746 113

20 21

35 5

66 23

89 5

454 52

22 19

45

146 31

95 31

79 19

120 20

26 8

314

429

210

508

52

230

3

3

124

19

254

259

126

392

172

44

314

3

93

124

269

299

28

43

213

90

74

555

25

30 95.2 95.2

36 1 1 94.8 94.8 100.0

10 96.0 96.0

49 92.9 92.9

1 99.2 99.2

61 8 6 .1 86.1

1 94.1 94.1

9 45 45 51.4 86.4

8

1

29 16 13 96.1

97.8

98.4

97.8

55.2

25

3

182 3 179 87.2

99.1

98.2

99 1

1.6

11 94.6 94.6

21 3 3 97.6 97.6 100.0

18 95.6 95.6

1 1 1 99.3 99.3 100 .0

37

11

20

11

2 18

11

95.5

66.7

96.9

80 0

10.0

33 80.1 8 0 1

1 99.5 99.5

10 97.3 97.3

79 91.1 91.1

100 .0 100.0

18 18 1 0 0 .0 1 00 .0 100 .0

5 98.7 98.7

9 3 3 96.1 96.0 1 00 .0

11 94.0 94.0

19 5 4 1 97 2

1 0 0 .0

97.3

1 00 .0

80.0

SO 4.8 4.8

13 13.3 13.3

46 4.2 4.2

18

3

to

CONUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 102. NUMBER OF OPERATING BANKS, DECEMBER 31, 1935

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS

_ __

All banks Commercial banks Mutual savings banks Percent of banks insured

Insured

Total Insured Noninsured

Total

Total

Members F. R.

System

Not

members

F. R.

System

Noninsured

Total Insured N oninsured

All

banks

Comm ercial

banks

M utual

savings

banks

N ational State

U nited States and Possessions—

15,812 14,181 1,631 15,246 14,125 5,386 1 ,0 0 1 7,738 1 ,1 2 1 566 56 510 89.7 92.6 9.9

B anks w ith deposits o f—

$ 1 0 0 ,0 0 0 and under........................... 1,395 1,033 362 1,392 1,031 53 12 966

2,519

361 3

A

2 1

4

74.1

90.1

94.8

74.1

90.2O

66.7

$100 000 to $250,000........................ 3,561

3,447

1,774

1,065

3,210 351 3,557 3,210 580 111 347

176 57.1

$250 000 to $500,000........................ 3,268 179 3,440 3,264 1,161 167 1,936 7 4 3 y^+.y

$500 000 to $750,COO........................ 1,705 69 1,762 1,703 805 120 778 59 12 2 10

16

56

96.1

95.0

94.5

96.7

96.5

97.3

16.7

$750 000 to $1,000,000.................... 1 ,0 1 2 53 1,045 1,008 516 74 418 37 20 4

13^8

$1 000 000 to $ 2 ,0 0 0 ,0 0 0 ............... 1,941

1,414

1,028

150

37

15,781

1,834 107 1,876 1,825 1,004 153 668 51 65 9

$2 000 000 to $5 000,000 ............... 1,258 156 1,273 1,245 764 159 322 28 141 13

17

128

258

34

89 0

72.7

76.0

97.8

96.9

98.2

9.2

$5 000 000 to $ 5 0 ,0 0 0 ,0 0 0 ............. 747 281 753 730 442 161 127 23 275

Over $50,000,000................................ 114 36

37

1,603

111

37

15,215

109 61 44 4 2

37

1,093

39 5 12 8

“ None” or N ot available1 ............

S tates total ........................................ 14,178

207

15

213

14,122 5,386 1 ,0 0 1 7,735 566 56 510 89.8 92.8 9.9

217

15

222

10 217

15

207

15

69

7

18

3

120

5

10 95.4 95.4

1 0 0 .0 1 0 0 .0

9 222 213

245

141

50

123

81

7

16

5

156

106

55

9

10

15

95.9

96.1

95.9

96.1

255 245 10 255 90.4 90.4 156 141 15 156

198 105 93 125 105 54 6 45 20 73 73 53.0 84.0

2 91.7

1 0 0 .0

95.6

1 0 0 .0 48

22

153

44

22

148

4 46

22

153

44

22

16

9

4

2

24

11

2 2

District of Colum bia........................

5 148

258

51

57

3

25

94

176

5

63

96.7

80.4

96.7

80.4 321 258 63 321

60 57 60 57 23

299

10

65

24

500

367

438

254

3 95.0 95.0 3

19 97.8

oo n

97.8

92.1

8 8 .2

883 864 19 883 864 *| 80.0

548 504 44 543 500

582

460

125

118

190

8

26

16

43

78

268

5 4 1 y^.u

8 8 .2 

63 2 660 582 78 660 63.2 728 1 460 268 728

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky................................................

Louisiana.................................................

M a in e .......................................................

M aryland................................................

Massachusetts......................................

M ichigan.................................................

M innesota...............................................

Mississippi.............................................

M issouri..................................................

M ontan a.................................................

Nebraska................................................

N evad a....................................................

New Ham pshire..................................

New Jersey............................................

New M exico..........................................

New Y o r k ..............................................

North Carolina....................................

North D a k o ta ......................................

O hio...........................................................

O klahom a...............................................

Oregon ......................................................

Pennsylvania........................................

Rhode Island........................................

South Carolina....................................

South D a k o ta......................................

Tennessee...............................................

T exas........................................................

U ta h ..........................................................

V erm ont..................................................

Virginia...................................................

W ashington...........................................

W est Virginia.......................................

W isconsin...............................................

W yom in g................................................

Possessions— t o t a l...............................

Alaska.......................................................

H aw aii......................................................

Pureto R ic o ...........................................

Virgin Islands of the United States

435

150

103

200

397

477

686

209

695

120

437

10

110

422

41

928

237

203

714

405

95

1,123

32

145

199

325

884

59

90

326

184

181

614

59

31

13

11

6

1

392

148

68

186

200

449

650

199

646

119

376

9

56

403

40

770

236

192

693

387

94

1,084

16

112

198

315

805

59

90

322

175

170

595

59

43 435 392 100 9 283 43

2 150 148 30 4 114 2

35 71 62 40 6 16 9 32 6 26

14 187 184 63 10 111 3 13 2 11

197 204 200 129 31 40 4 193 193

28 477 449 84 91 274 28

36 685 649 205 15 429 36 1 1

10 209 199 25 3 171 10

49 695 646 87 51 508 49

1 120 119 46 21 52 1

61 437 376 137 9 230 61

1 10 9 6 3 1

54 65 56 52 1 3 9 45 45

19 397 389 236 53 100 8 25 14 11

1 41 40 22 4 14 1

158 793 768 459 119 190 25 135 2 133

1 237 236 44 10 182 1

11 203 192 66 126 11

21 711 690 249 72 369 21 3 3

18 405 387 214 1 172 18

1 94 93 44 6 43 1 1 1

39 1,116 1,082 709 74 299 34 7 2 5

16 23 16 12 2 2 7 9 9

33 145 112 20 4 88 33

1 199 198 52 23 123 1

10 325 315 72 5 238 10

79 884 805 454 52 299 79

59 59 13 19 27

76 76 43 33 14 14

4 326 322 132 24 166 4

9 181 172 58 26 88 9 3 3

11 181 170 79 19 72 11

19 609 591 106 15 470 18 5 4 1

59 59 26 8 25

28 31 3 3 28

11 13 2 2 11

10 11 1 1 10

6 6 6

1 1 1

90.1

98.7

66.0

93.0

50.4

94.1

94.7

95.2

92.9

99.2

86.0

90.0

50.9

95.5

97.6

83.0

99.6

94.6

97.1

95.6

98.9

96.5

50.0

77.2

99.5

96.9

91.1

100.0

100.0

98.8

95.1

93.9

96.9

100.0

9.7

15.4

9.1

90.1

98.7

87.3

98.4

98.0

94.1

94.7

95.2

92.9

99.2

86.0

90.0

86.2

98.0

97.6

96.8

99.6

94.6

97.0

95.6

98.9

97.0

69.6

77.2

99.5

96.9

91.1

100.0 

100.0

98.8

95.0

93.9

97.0

100.0

9.7

15.4

9.1

18.8

15.4

56.0

1.5

100.0

100.0

28.6

100.0

100.0

’ 80.0

includes 20 private banks under State supervision, 5 American branches of foreign banks,

of which are deposit figures available.

trust companies which do not accept deposits, and 4 new banks, for none

NOTE: Banks grouped by amount of deposits are grouped on the basis of daily average deposits October 1 to December 31, 1935, except for noninsured commercial banks

and all mutual savings banks which are grouped on the basis of deposits as of December 31, 1935. to

cnNUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. NUMBER OP OPERATING UNIT BANKS, DECEMBER 31, 1935

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS

N>

oa

All banks Commercial banks Mutual savings banks Percent of banks insured

Insured

Total Insured Noninsured Total

Total

Members F. R.

System

Not

members

F. R.

System

N oninsured

Total Insured Noninsured

All

banks

Commercial

banks

Mutual

savings

banks

N ational State

U nited States an d Possessions—

14,901 13,381 1,520 14,416 13,329 5,204 858 7,267 1,087 485 52 433 89.8 92.5 10.7

B anks w ith deposits o f—-

$ 1 0 0 ,0 0 0 and u n d e r ......................... 1,392 1,031 361 1,389 1,029 53 12 964 360 3 2 1 74.1 74.1 66.7

<ti fin nnn *-r» <£9^1 non 3,500

3,344

3,151

3,170

349 3,496

3,337

3,151

3,166

580 110 2,461

1,840

345 4 4 90.0 90.0

$250 000 to $500,000........................ 174 1,160 166 171 7 4 3 94.8 94.9 57.1

$500 000 to $750,000........................ 1,693

1,016

1,842

1,626 67 1,681 1,624 802 119 703 57 12 2 10 96.0 96.6 16.7

$750 000 to $1,000,000.................... 965 51 996 961 512 74 375 35 20 4 16 95.0 96.5 2 0.0

$ 1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ............... 1,748 94 1,781 1,739 998 148 593 42 61 9 52 94.9 97.6 14.8

$ 2 ,0 0 0 ,0 0 0 to $5,000,000 ............

$5,000,000 to $ 5 0 ,0 0 0 ,0 0 0 .............

Over $50,000,000................................

''N on e” and !Not available^.........

1,285

743

49

37

14,880

1,143

514

33

142

229

16

1,151

517

31

1,130

500

29

734

344

21

136

85

8

260

71

21

17

2

134

226

18

13

14

4

121

212

14

88.9

69.2

67.3

98.2

96.7

93.5

9.7

6.2

2 2.2

37

1,501

37

14,395

37

Sta tes— t o t a l................................ 13,379 13,327 5,204 858 7,265 1,068 485 52 433 89.9 92.6 10.7

Alabama 214

10

216

204 10 214 204 68 17 119 10 95.3 95.3

Arizona 10 10 10 5 3 2 1 00 .0 1 0 0 .0 I..............

Arkansas 207

207

141

102

38

9 216 207 50 7 150 9 95.8 95.8

California 216

156

193

41

9 216 207 112 8 87 9 95.8 95.8

PolnraH a 15 156 141 81 5 55 15 90.4 90.4

Connecticut 91 121 102 52 6 44 19 72 72 52.8 84.3

Delaware 3 40 38 16 2 20 2 1 1 92.7 95.0

11

153

311

55

883

517

11

148

249

52

864

474

11 11 4 7 1 00 .0 1 0 0 .0

Florida 5 153 148 51 3 94 5 96.7 96.7

frPnraio 62 311 249 53 22 174 62 80.1 80.1

3 55 52 20 9 23 3 94.5 94.5

Illinois 19 883 864 299 65 500 19 97.8 97.8

Indiana.................................................... 43 512 470 120 7 343 42 5 4 1 91.7 91.8 80.0

567

728

494

1 460

73 567 494 118 26 350 73 87.1 87.1

Kansas..................................................... 268 728 460 190 16 254 268 63.2 63.2

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky...............................................

Louisiana................................................

M aine.......................................................

M aryland.................. ........................

M assachusetts.....................................

M ichigan.................................................

Minnesota..............................................

Mississippi.............................................

M issouri..................................................

M ontan a.................................................

N ebraska................................................

N evad a....................................................

New H am pshire.................................

New Jersey...........................................

New M exico.........................................

New Y o r k ..............................................

North Carolina. .................................

North D akota......................................

O hio..........................................................

Oklahom a..............................................

Oregon.....................................................

Pennsylvania........................................

Rhode Island.......................................

South Carolina....................................

South D akota......................................

Tennessee...............................................

T exas........................................................

U ta h .........................................................

Verm ont..................................................

Virginia...................................................

W ashington...........................................

W est Virginia.......................................

W isconsin...............................................

W yom ing................................................

Possessions— t o t a l..............................

Alaska......................................................

H aw aii.....................................................

Puerto R ic o..........................................

Virgin Islands of the United States

421

124

82

174

326

440

684

188

695

120

435

8

109

371

37

810

199

203

679

405

92

1,079

21

140

194

305

884

55

81

287

176

179

547

59

21

12

7

2

378

122

52

163

158

414

648

178

646

119

374

7

55

353

36

688

199

192

658

387

91

1,047

10

107

193

295

805

55

81

284

167

168

529

59

2

2

432

30

11

168

26

36

10

49

1

61

1

54

18

1

421 378 97 8 273

124 122 25 3 94

52 46 37 1 8

163 161 61 6 94

162 158 111 17 30

440 414 73 82 259

683 647 203 15 429

188 178 24 3 151

695 646 87 51 508

120 119 46 21 52

435 374 135 9 230

8 7 4 3

64 55 51 1 3

349 341 222 31 88

37 36 22 4 10

712 687 432 84 171

199 199 42 8 149

203 192 66 126

676 655 241 62 352

405 387 214 1 172

91 90 42 6 42

1,076 1,045 693 62 290

13 10 9 1

140 107 19 3 85

194 193 48 23 122

305 295 68 5 222

884 805 454 52 299

55 55 10 19 26

68 68 41 27

287 284 126 22 136

173 164 53 25 8 6

179 168 79 19 70

542 525 104 11 410

59 59 26 8 25

21 2 2

12 2 2

7

2

43

2

6

2

4

30

11

164

6

2

24

9

164

26

36 1 1

10

49

1

61

1

9 45 45

8

1

22 12 10

25 98 1 97

11

21 3 3

18

1 1 1

31

3

3

8

2 1

8

33

1

10

79

13 13

3

9 3 3

11

17 5 4 1

19

10

7

2

89.8

98.4

63.4

93.7

48.5

94.1

94.7

94.7

92.9

99.2

86.0

87.5

50.5

95.1

97.3

84.9

100.0

94.6

96.9

95.6

98.9

97.0

47.6

76.4

99.5

96.7

91.1

100.0

100.0

99.0

94.9

93.9

96.7

100.0

9.5

16.7

89.8

98.4

88 5

98.8

97.5

94.1

94.7

94.7

92.9

99.2

86.0

87.5

85.9

97.7

97.3

96.5

100.0

94.6

96.9

95.6

98.9

97.1

76.9

76.4

99.5

96.7

91.1

100.0

100.0

99.0

94.8

93.9

96.9

100.0

9.5

16.7

20.0

18.2

54.5

1.0

100.0

100.0

66.7

100.0

100.0 

‘ 80.0

includes 20 private banks under State supervision, 5 American branches of foreign banks, 8 trust companies which do not accept deposits, and 4 new banks, for none

of which are deposit figures available.

N O T E : Banks grouped by amount of deposits are grouped on the basis of daily average deposits October 1 to December 31 1935 .except for noninsured commercial banks

and all mutua savings banks which are grouped on the basis of deposits as of December 31 1935.

toNUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 104. N u m b e r OF B a n k s OPERATING BRANCHES, DECEMBER 31, 1935

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS

U n ited S tates an d Possessions— t o t a l ......................

B anks w ith deposits of—

$ 100 ,00 0 and under...............

$100,000 to $250,000............

$250,000 to $500,000............

$500,000 to $750,000..........

$750,000 to $1,000,000. . .

$ 1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ..

$2,000,000 to $5,000,000 . .

$5,000,000 to $50,000,000 .

Over $50,000,000..................

States— t o t a l.

Alabam a. .

Arizona. . .

Arkansas..

California.

Colorado. .

Connecticut..................

Delaware........................

District of Colum bia.

Florida.............................

G eorgia............................

Idah o. .

Illinois..

Indiana.

Iow a . . .

K ansas.

All banks

Total

911

3

61

103

81

49

99

129

285

101

901

3

5

6

39

Insured

800

2

59

98

79

47

86

115

233

81

799

3

5

6

38

30

88

Noninsured

111

1

2

5

2

2

13

14

52

20

102

Total

830

3

61

103

81

49

95

122

236

80

820

3

5

6

39

Commercial banks

Insured

Total

796

2

59

98

79

47

86

115

230

80

795

3

5

6

38

Members F.R

System

N a- State

tional

182

3

4

6

30

98

40

182

1

2

143

23

76

36

143

N ot

members

F. R.

Syst’m

471

2

58

96

75

43

75

62

56

4

470

1

3

6

19

Noninsured

25

Mutual savings banks

Total

7

4921

81

Insured

Noninsured

77

Banks operating

branch systems

that are

City

wide

Possessi ons noi c

361

County

wide

lassified

360

2

2

4

17

In

more

than

one

county

180

1

3

2

12

Percent of banks

insured

All

banks

66.7

96.7

95.1

97.5

95.9

86.9

89.1

81.8

80.2

88.7

100.0

100.0

100.0

97.4

60.0

85.7

100.0

90.0

100.0

96.8

94.6

Commercial

M utual

savings

banks banks

95.9

66.7

96.7

95.1

97 5

95.9

90.5

94.3

97.5

100.0

97.0

100.0

100.0

100.0

97.4

75.0

100.0

100.0

90.0

100.0

96.8

94.6

4.9

6.1

4.8

4.9

K)

00FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky..........

Louisiana...........

M a in e ..................

M arylan d...........

M assachusetts.

M ichigan. .

M innesota.

M ississippi.

M issouri. . .

M on tan a. .

N ebraska..............

N ev ad a..................

New H am pshire.

New Jersey..........

New Mexico . . . .

New Y o r k ..........

North Carolina.

North D a k o ta. .

O hio......................

Oklahom a..........

Oregon.................

Pennsylvania. .

Rhode Island . .

South Carolina.

South D a k o ta . .

Tennessee.

T e xas. . . .

U ta h ...........

Verm ont. .

Virginia. ..

Washington . .

W est Virginia.

Wisconsin . . . .

W yom in g. . . .

P ossessions— t o t a l.

Alaska..........................................

H aw aii.........................................

Puerto R ic o ..............................

Virgin Islands of the United

S tates...........................................

2

2

1

51

4

118

38

35

3

44

11

5

5

20

4

9

39

8

2

67

14

26

16

23

42

35

2

21

2

2

1

50

4

82

37

35

3

37

6

5

5

20

4

9

38

8

2

66

14

26

19

24

42

37

2

14

26

3 1 10 4 7 3 100.0 100.0

5 1 20 6 19 1 100.0 100.0

16 3 5 8 3 2 2 3 9 9 76.2 84.2

23 2 4 17 1 2 2 10 10 6 88.5 95.8

42

35

2

18

11

14

9

10

15

29 29 50 19 2 59.2 100.0

2 22 11 4 94.6 94.6

2 2 100.0 100.0

21 21 1 20 14 7 100.0 100.0

2 2 2 2 100.0 100.0

2 2 2 1 1 100.0 100.0

1 1

48

1 1 100.0 100.0

48 14 22 12 3 2 1 39 10 2 98.0 100.0

4 4 4 2 2 100.0 100.0

81 81 27

2

35 19 37 1 36 104 7 7 69.5 100.0

38 37 2 33 1 4 12 22 97.4 97.4

35 35 8 10 17 14 20 1 100.0 100.0

3 3 2 1 1 2 100.0 100.0

40 37 16 12 9 3 4 4 36 7 1 84.1 92.5

10

5

6 3 2 1 4 1 1 4 5 2 54.5 60.0

5 1 1 3 1 1 3 100.0 100.0

5 5 4 1 5 100.0 100.0

20 20 4 16 3 13 4 100.0 100.0

4 4 3 1 1 3 100.0 100.0

8

39

8

2

8

38

8

2

2 6 1 1 6 3 100.0 100.0

6 2 30 1 8 19 12 97.4 97.4

5 1 2 1 2 5 100.0 100.0

2 1 1 100.0 100.0

67 66 2 4 60 1 6 44 17 98.5 98.5

10

1

1 1 9 Possessi onsnol c lassified 10.0 10.0

1

4 1 1 3 25.0 25.0

4 4

1 1

66.7

2.7

100.0

N O T E : Banks grouped by am ount of deposits are grouped on the basis of daily average deposits October 1 to Decem ber 31, 1935, except for noninsured commercial banks 

and all mutual savings banks which are grouped on the basis of deposits as of Decem ber 31, 1935. to

CDNUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 105. N u m b e r OF OPERATING BRANCHES OF BANKS, DECEMBER 31, 1935

INSURED AND NONINSURED BRANCHES GROUPED BY CLASS OF BANK IN EACH STATE AND POSSESSION

CO

o

U nited S tates an d P ossessions— t o t a l.......................

States— t o t a l.

Alabama . ,

Arizona . . .

Arkansas..

California.

Colorado. .

All branches

Total

3,331

3,278

22

21

6

798

Insured

Nonin*

sured

3,119

3,118

22

21

6

797

212

160

Branches of commercial banks

Total

3,202

3,149

22

21

6

798

Insured

Total

3,112

3, J11

22

21

6

797

Members

F. R. System

N a - tional state

1.327

1.327

615

952

952

1

136

Not

members

F. R.

System

15

6

6

46

Nonin

sured

Branches of mutual

savings banks

Total

129

129

Insured

Nonin.

sured

122

122

Location of branches

In

head

office

city

Elsewhere

in

head

office

county

Outside

head

office

county

Possessi ons not c lassified

1,765 621 892

245

14

152

476

Percent of branches

insured

All

banks

93.6

95.1

100.0

100.0

100.0

99.9

Com ­

mercial

banks

97.2

98.8

100.0

100 0

100.0

99.9

M utual

savings

banks

5.4

5.4

Connecticut..................

D elaw are........................

District of Columbia .

Florida.............................

Georgia............................

Idah o. .

Illinois . .

Indiana.

Iow a . . .

K ansas.

4

12

30

40.0

92.3

100.0

44.4

100.0

100.0

13 96.0

100.0

96.0

100.0

48

125

47

115

48

125

47

115

30

115

97.9

92.0

97.9

92.0

K entucky..........

Louisiana...........

M a in e ..................

M arylan d..........

M assachusetts.

Michigan . .

Minnesota .

M ississippi.

M issouri. . .

M ontana . .

30

51

60

94

149

147

6

40

30

51

52

77

110

145

6

40

30

51

58

78

110

147

6

40

30

51

52

77

110

145

6

40

12

23

21

47

15

40

39

19

23

16

51

115

127

6

8

25

19

21

32

16

" ‘20 20

100.0

100.0

86.7

81.9

73.8

98.6

100.0

100.0

100.0

100.0

89.7

98.7

100.0

98.6

100.0

100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N ebraska..............

N ev ad a..................

N ew H am pshire.

N ew Jersey..........

N ew Mexico

N ew Y o r k ..........

North Carolina.

North D a k o ta. .

O h io......................

O klahom a..........

2 2 2 2 2 2 100.0 100.0

7 7 7 7 7 1 2 4 100.0

100.0

100.0

1 1 1 1 1 1 100.0

118 116 2 114 114 32 58 24 4 2 2 95 21 2 98.3 100.0

5 5 5 5 5 3 2 100.0

93.1

100.0

671 625 46 624 624 1.81 379 64 47 1 46 654 9 8 100.0

91 89 2 91 89 5 7 77 2 9 24 58 97.8 97.8

169 169 169 169 31 115 23 130 35 4 100.0 100.0

42 42 42 42 41 1 11 2 29 100.0 100.0

107 91 16 94 91 37 39 15 3 13 13 98 7 2 85.0 96.8

34 28 6 32 28 8 19 1 4 2 2 15 12 7 82.4 87.5

21 21 21 21 15 1 5 3 1 17 100.0 100.0

15 15 15 15 14 1 4 11 100.0 100.0

48 48 48 48 17 31 17 14 17 10C.0 100.0

10 10 10 10 9 1 1 1 8 100.0 100.0

16 16 12 12 2 10 4 4 13 3 100.0 100.0

69 68 1 69 68 14 7 47 1 21 31 17

26

98.6 98.6

44 44 44 44 37 5 2 15 3 100.0 100.0

2 2 2 2 2 1 1 100.0

99.0

100.0

1 105 104 14 5 85 1 18 69 18 99.0105 104

53 1 52 53 1 1 52 Possessi ons not c lassified 1.9 1.9

2 2 2 2

37 1 36 37 1 1 36 2.7 2.7

12 12 12 12

2 2 2 2

50.0

2.1

Oregon ................

Pennsylvania. .

Rhode Island. .

South Carolina.

South D a k ota. .

Tennessee.

T e x as. . . .

U ta h ...........

V erm ont. .

Virginia. . .

W ashington. .

W est Virginia.

Wisconsin

W y om in g . . . .

Possessions— t o t a l .

A laska..........................................

H aw aii.........................................

Puerto R ic o ...............................

Virgin Islands of the United

States.......................................

NUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 106. N u m b e r OF OPERATING COMMERCIAL BANKS, DECEMBER 31, 1935

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

U n ited S ta te s an d P ossessions

t o t a l........................................

In su red b a n k s .............................

N on in su red b a n k s ....................

S ta te s — t o t a l................

In su red b a n k s ..........

N on in su red ba nks .

Alabam a..............................

In su red b a n k s ..........

N on in su red b a n k s .

Arizona................................

In su red b a n k s ..........

N on in su red banks .

Arkansas.............................

In su red b a n k s ..........

N on in su red banks .

California...........................

In su red b a n k s ..........

N on in su red b a n k s .

Colorado.............................

In su r ed b a n k s ..........

N on in su red banks .

Connecticut.......................

In su r ed b a n k s ..........

N on in su red banks .

Delaware............................

In su r ed b a n k s ..........

N on in su red ba nks .

District of Columbia . .

In su r ed b a n k s ..........

N on in su red banks .

Florida.................................

In su r ed b a n k s ..........

N on in su red b a n k s.

Georgia................................

In su red b a n k s ..........

N on in su red banks

All

banks

15,246

14,125 1,121

15,215

14,122

1,093

217

207

10

15

15

222

213

9

255

245

10

156

141

15

125

105

20

46

44

2

2222

153

148

5

321

258

63

Banks with deposits of—

$ 1 00 ,00 0

and

under

$1 00,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

$ 1,0 00 ,00 0

$ 1,0 00 ,00 0

to

2 ,0 0 0 ,0 0 0

$2 ,0 0 0 ,0 0 0

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

“ None”

and not

available1

1,392

1,031

361

3,557

3,210

3,440

3,264

176

1,762

1,703

59

1,045

1,008

37

1,876

1,825

51

1,273

1,245

28

753

730

111

109

37

347 23 2 37

1,390

1,031

359

3,555

3,210

345

3,435

3,264

1,760

1,703

57

1,042

1,007

35

1,869

1,823

46

1,267

1,245

22

751

730

111

109

35

171 21 2 35

23 70 58 21 10 17 13 4 1

20 65 57 20 10 17 13 4 1

3 5 1 1

1 2 3 6 3

1 2 3 6 3

55 64 46 23 6 16 4 8

48 63 45 23 6 16 4 8

7 1 1

3

2

18

17

66

66

40

40

21

21

34

33

35

34

21

20

12

12

5

1 1 1 1 1 5

21 34 44 13 8 18 9 8 1

11 32 42 12 8 18 9 8 1

10 2 2 1

2

1

11

8

9

6

11

11

9

8

26

21

31

30

22

19

1

1

3

1 3 3 1 5 1 3 3

6 5 11 5 3 7 4 5

4 5 11 5 3 7 4 5

2

1 1 2 4 13 1

1 1 2 4 13 1

15 34 36 14 12 22 12 8

14 34 33 14 12 21 12 8

1 3 1

81

42

93

83

63

60

23

23

9

8

25

25

10

10

5

5

2

2

10

39 10 3 1 i 10

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Id ah o..................................................

In su r ed b a n k s ........................

N o n in su red b a n k s ...............

Illinois.................................................

In su r ed b a n k s ........................

N o n in su red b a n k s ...............

Indiana...............................................

In su red b a n k s ........................

N on in su red b a n k s ...............

Iow a....................................................

In su r ed b a n k s ........................

N o n in su red b a n k s ...............

K ansas................................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

K entucky..........................................

In su red b a n k s ........................

N on in su red b a n k s ...............

Louisiana..........................................

In su red b a n k s ........................

N on in su red b a n k s ..............

M ain e.................................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

M aryland..........................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

Massachusetts................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

M ichigan...........................................

In su red b a n k s ........................

N on in su red b a n k s ...............

M innesota.........................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

M ississippi........................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

M issouri.............................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

M ontana............................................

In su r ed b a n k s ........................

N on in su red b a n k s ...............

Nebraska...........................................

In su red b a n k s ........................

N on in su red b a n k s ...............

60

573

883

864

19

543

500

43

660

582

78

728

460

268

435

392

43

150

1482

71

629

187

1843

204

2004

477

449

28

685

649

36

209

199

10

695

646

49

120

1191

437

376

61

48

435

3221

11

241212

133

45

24

204

76

62

14

25

232

132

108

248

232

2275

150

132

18

196

164

32

266

153

113

116

105

11

33

33532

37

37

116

1115

199

18712

50

473

237

220

17

27

261

173

146

27

210

2055

130

1219

204

184

20

167 122

45

91

883

40

391752

37

37

131

1247

206 2015

53

512

140

1346

36

36

118

1108

112

112

69

663

86 

824

54

459

58

508

23

23862

27

27

56

551

74

731

25

232

54

531

13

13

37

37

23

23

25

241

57

552

18

171

32

311

11

11

14

131

761

102

1002

77

752

69

654

40

373

50

491

13

13

18

162

31

301

39

381

62

575

39

372

19

19

43

43

752

81

801

34

34

20

191

21

21

16

16

19

19

14

14

61

601

34

313

23

23

14

14

29

29

11

11

42

42

17

17

11101

16

142

43

412

26

2428

23

23

NUMBER OF BANKS AND BRANCHES 133

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 106. N u m b e r OF O p e r a tin g C o m m e rc ia l B a n k s , D e c e m b e r , 31, 1935—Continued

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

N evad a..............................

In su r ed ba n k s. . . .

N o n in su red banks

New Ham pshire...........

In su r ed b a n k s ....

N o n in su red banks

New Jersey......................

In su r ed ba n k s. . . .

N on in su red banks

New M exico...................

In su r ed b a n k s ....

N on in su red banks

New Y o r k ........................

In su r ed b a n k s ....

N on in su red banks

North Carolina..............

In su red b a n k s ....

N on in su red banks

North D akota................

In su red b a n k s ....

N on in su red banks

O hio....................................

In su red b a n k s ....

N on in su red banks

Oklahoma.........................

In su red b a n k s ....

N on in su red banks

Oregon...............................

In su red b a n k s ....

N on in su red banks

Pennsylvania..................

In su red b a n k s ....

N on in su red banks

Rhode Island.................

In su red b a n k s ....

N on in su red banks

South Carolina..............

In su red ba n k s. .. .

N on in su red banks

All

banks

10

9

I

65

56

9

397

389$

41

40

1

793

768

25

237

236

1

203

192

11

711

690

21

405

387

18

94

93

1

1,116

1,082

34

23

16

7

145

112

33

Banks with deposits of—

$100,000

and

under

42

24

18

$100,000

to

250,000

72

68

4

111

102

9

145

137

$250,000

to

500,000

13

12

1

39

39

133

131

2

53

53

41

40

1

199

190

9

100

97

3

27

27

175

170

5

1

1

$500,000

to

750,000

51

49

2

6

5

1

90

90

105

105

166

162

4

2

2

$750,000

to

$1,000,000

9

7

2

38

37

1

4

4

115

111

4

$1,000,000

to

2,000,000

12

11

1

114

114

166

165

1

40

40

105

105

30

30

248

246

2

5

/

4

12

11

1

$2,000,000

to

5,000,000

6

5

1

83

83

154

149

5

18

17

1

6

6

20

20

200

200

$5,000,000

to

50,000,000

58

57

1

3

3

88

83

5

8

8

34

34

90

88

2

7

5

2

3

3

Over

$50,000,000

29

27

2

2

2

14

14

“ None”

and not

available1

134 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
South D akota..................

In su r ed b a n k s ..........

N on in su red b a n k s .

Tennessee...........................

In su r ed b a n k s ..........

N on in su red b a n k s .

T exas....................................

In su red b a n k s ..........

N on in su red b a n k s .

U ta h ......................................

In su red b a n k s ..........

N on in su red b a n k s .

Verm ont..............................

In su red b a n k s ..........

N on in su red b a n k s .

Virginia................................

In su r ed b a n k s ..........

N on in su red b a n k s .

W ashington.......................

In su red b a n k s ..........

N on in su red b a n k s .

W est Virginia...................

In su red b a n k s ..........

N on in su red b a n k s .

W isconsin...........................

In su r ed b a n k s ..........

N on in su red b a n k s .

W yom ing............................

In su red b a n k s ..........

N on in su red b a n k s .

P o ssession s— t o t a l .. .

In su red b a n k s ..........

N on in su red b a n k s .

Alaska..............................................

In su red b a n k s ......................

N on in su red b a n k s .............

H aw aii..............................................

In su r ed b a n k s ......................

N on in su red b a n k s .............

Puerto R ic o...................................

In su red b a n k s ......................

N on in su red b a n k s .............

Virgin Islands of the United

States.................................

In su red b a n k s ......................

N on in su red b a n k s .............

199

198

1

325

315

10

884

805

79

59

59

326

322

181

172

9

181

170

11

609

591

18

59

59

70

63

7

132

104

28

1

1

18

16

2

18

16

2

2

1

1

23

20

3

5

5

105

104

1

256

226

30

13

13

60

60

41

39

2

29

26

3

158

156

2

7

7

28

28

59

59

215

205

10

19

19

72

71

1

45

44

1

46

42

4

163

156

7

17

17

12

11

1

29

29

105

98

7

5

5

60

59

1

28

27

1

26

24

2

83

82

1

11

11

I

16

14

2

39

37

2

7

7

30

30

60

59

1

3

3

46

46

22

19

3

34

34

69

68

1

8

8

40

39

1

2

2

13

13

25

25

10

10

20

19

1

33

32

1

6

6

13

13

37

37

14

14

17

17

includes 20 private banks under State supervision,

of which are deposit figures available.

5 American branches of foreign banks, 8 trust companies which do not accept deposits, and 4 new banks for none

N O T E : Banks grouped by amount of deposits are grouped on the basis of daily average deposits October 1 to December 31 1935, except for noninsured commercial banks

and all mutual savings banks which are grouped on the basis of deposits as of December 31, 1935.

CO

Or NUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 107. N u m b e r OF OPERATING COMMERCIAL BANKS, DECEMBER 31, 1935

UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

CO

Oi

All

banks

Banks with deposits of

$ 1 0 0 ,0 0 0

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

$1,0 00 ,00 0

1 ,0 0 0 ,0 0 0

to

2 ,0 0 0 ,0 0 0

$2 ,0 0 0 ,0 0 0

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

“ None”

and not

available1

U nited S tates and Possessions

t o t a l .......................................... 15,246 1,392 3,557 3,440 1,762 1,045 1,876 1,273 753 111 37

U nit b a n k s ..................................... 14,416 1,389 3,496 3,337 1,681 996 1,781 1,151 517 31 37

Banks operating bra n ch es . . 830 3 61 103 81 49 95 122 236 80

S tates— t o t a l................ ........... ......... 15,215 1,390 3,555 3,435 1,760 1,042 1,869 1,267 751 111 35

U nit b a n k s ..................................... 14,395 1,388 3,494 3,333 1,679 993 1,776 1,149 517 31 35

Banks operating branches . . 820 2 61 102 81 49 93 118 234 80

Alabama 217 23 70 58 21 10 17 13 4 1

U nit banks 214 23 70 57 21 10 17 12 4

B anks op&T atin.£ jbr^nc/ics 3 1 1 1

Arizona.............................................. 15 1 2 3 6 3

U nit banks 10 1 2 3 3 1

B anks 0p&Tatin£ bTancbiGs 5 3 2

Arkansas............................................ 222 55 64 46 23 6 16 4 8

Unit banks 216 55 63 45 20 5 16 4 8

B anks opGratin^ bTan.ch&s A 1 1 3 1

California.......................................... 255 3 18 66 40 21 34 35 21 12 5

Unit b a n k s ................................ 216 3 18 64 37 18 29 29 11 2 5

Banks op6Tatin£ bTanchss 39 2 3 3 5 6 10 10

Colorado............................................ 156 21 34 44 13 8 18 9 8 1

Unit banks 156 21 34 44 13 8 18 9 8 1

Banks op&Tatin£ brsnchcs

Connecticut..................................... 125 2 11 9 11 9 26 31 22 1 3

U nit banks 121 2 11 9 11 9 26 31 19 3

Ba nks 0pGTatin£ brdnc/i6S 4 3 1

Delaware........................................... 46 6 5 11 5 3 7 4 5

40 6 5 11 5 3 7 2 1

Banks op& ratm £ bi?anch.&s 5 2 4

District of Columbia 22 1 1 2 4 13 1

r/r)*f fostnlrq 11 1 1 2 2 5

Banks opGj?atm$ bi*anchGs H 2 8 1

T7lr\ri/^ o 153 15 34 36 14 12 22 12 8

r J *-» 1 4- %% o lr q 153 15 34 36 14 12 22 12 8

Banks operating branches

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Georgia.............................................. 321 81 93 63 23 9 25 10 5 2 10

U nit b a n k s ................................ 311 81 92 61 23 9 24 9 2 10

Banks operating branches 10 1 2 1 1 3 2

Idaho.................................................. 60 3 14 15 11 1 7 7 2

U nit b a n k s ................................ 55 3 14 15 10 1 7 5

Banks operating branches 5 1 2 2

Illinois................................................ 883 48 232 210 112 50 102 81 42 5 1

U nit b a n k s ................................ 883 48 232 210 112 50 102 81 42 5 1

Banks operating branches

Indiana............................................... 543 32 150 130 69 33 77 34 17 1

U nit b a n k s ................................ 512 32 146 125 63 33 71 31 10 1

Banks operating branches 31 4 5 6 6 3 7

Iow a.................................................... 660 24 196 204 86 50 69 20 11

U nit b a n k s ................................ 567 24 176 174 77 39 51 15 11

Banks operatin g branches 93 20 30 9 11 18 5

K ansas................................................ 728 133 266 167 54 37 40 21 7 o

U nit b a n k s ................................ 728 133 266 167 54 37 40 21 7

o

3

Banks operating branches

K entucky.......................................... 435 70 116 91 58 25 50 16 8 1

Unit b a n k s ................................ 421 70 113 88 58 24 49 16 3

Banks operating branches 14 3 3 1 1 5 I

Louisiana.......................................... 150 9 33 40 23 15 13 7 9 1

U nit b a n k s ................................ 124 9 32 35 18 12 8 5 5

Banks operating bra nches 26 1 5 5 3 5 2 4 1

M a in e................................................. 71 5 7 8 3 18 19 11

U nit b a n k s ................................ 52 4 7 6 3 16 10 5

Banks operating bra nches 19 1 2 2 9 5

M aryland.......................................... 187 8 37 37 27 16 31 14 16 1

U nit b a n k s ................................ 163 8 35 36 24 14 25 11 10

Banks operating branches 24 2 1 3 2 6 3 6 1

Massachusetts................................ 204 1 4 13 15 23 39 61 43 5

U nit b a n k s ................................ 162 1 4 13 15 23 36 48 21 1

B a nks operating bra nches 42 3 13 22 4

M ichigan........................................... 477 24 116 131 56 25 62 34 26 3

U nit b a n k s ................................ 440 24 115 129 54 24 57 28 p

Banks operating branches 37 1 2 2 1 5 6 17 3

M innesota........................................ 685 76 199 206 74 57 39 23 8 3

U nit b a n k s ................................ 683 76 199 206 74 57 39 25 8 1

Banks operating branches 2 2

Mississippi........................................ 209 25 5C 53 25 18 19 14 5

U nit b a n k s ................................ 188 25 47 44 25 17 13 13 4

B anks operating branches 21 3 9 1 6 1 1

M issouri............................................. 695 132 237 140 54 32 43 29 23 5

U nit b a n k s ................................ 695 132 237 140 54 32 43 29 23 5

Banks operating bra nches

M ontana............................................ 120 8 27 36 13 11 9 11 5

U nit b a n k s ................................ 120 8 27 36 13 11 9 11 5

Banks operating branches

i

NUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 107. N u m b e r OF O p e r a tin g C o m m e rc ia l B a n k s , D e c e m b e r 31, 1935—-Continued

UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

Nebraska...........................................

Unit b a n k s ................................

Banks operating branches

N evad a...............................................

Unit b a n k s ................................

Banks operating branches

New Hampshire............................

Unit b a n k s ................................

Banks operating branches

New Jersey......................................

Unit b a n k s ................................

Banks operating branches

New M exico....................................

Unit b a n k s ................................

Banks operating branches

New Y o rk .........................................

Unit b a n k s ................................

Banks operating branches

North Carolina..............................

Unit b a n k s ................................

Banks operatin g branches

North D akota.................................

U nit b a n k s ................................

B anks operating branches

O hio.....................................................

Unit b a n k s ................................

B anks operatin g branches

Oklahom a..........................................

U nit b a n k s ................................

B a nks operating branches

Oregon ................................................

Unit b a n k s ................................

B anks operating branches

Pennsylvania...................................

U nit b a n k s ................................

Banks operatin g bra nches

All

banks

437

435

2

10

8

2

65

64

1

397

349

48

41

37

4

793

712

81

237

199

38

203

203

Banks with deposits of—

$100,000

and

under

60

60

19

17

2

64

64

$100,000

to

250,000

173

173

44

44

$250,000

to

500,000

118

118

13

12

1

133

132

1

53

46

7

41

41

$500,000

to

750,000

37

37

$750,000

to

$1,000,000

$1,000,000

to

2,000,000

114

111

3

6

5

1

166

162

4

40

35

5

10

10

$2 ,000,000

to

5,000,000

154

143

11

18

13

5

6

6

$5,000,000

to

50,000,000

Over

$50,000,000

“ None”

and not

available1

711

676

35

405

405

111

111

145

145

199

196

3

100

100

105

102

3

38

38

105

104

1

30

30

71

65

6

20

20

94

91

3

1,116

1,076

40

10

10

23

23

175

174

1

166

165

I

115

114

1

15

14

1

248

246

2

200

194

6

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Rhode Island.................................. 23 1 1 2 5 6 7 1

U nit b a n k s ................................ 13 1 1 2 2 4 3

B anks operating bra nches

South Carolina...............................

10 3 2 4 1

145 42 35 27 11 5 12 9 3 1

Unit b a n k s ................................ 140 42 35 27 11 4 11 8 1 1

B anks opera ting bra nches 5 1 1 1 2

South D akota................................. 199 45 94 28 12 2 11 5 2

U nit b a n k s ................................ 194 45 93 28 12 2 11 3

B anks operating branches 5 1 2 2

Tennessee.......................................... 325 70 105

101

59 29

25

16 26 6 13

8

1

U nit b a n k s ................................ 305 70 58 15 22 6

Banks operating branches 20 4 1 4 1 4 5 1

Texas.................................................. 884 132 256 215 105

105

39

39

58

58

40

40

37

37

2

Unit b a n k s ................................ 884 132 256 215 2

Banks operating branches

U ta h .................................................... 59 1 13 19 5 7 5 2 7

Unit b a n k s ................................ 55 1 13 19 5 6 5 2 4

Banks operating branches 4 1 3

Verm ont............................................ 76 3 18 8 10 22 13 2

Unit b a n k s ................................ 68 3 17 8 8 22 9 1

Banks operating branches 8 1 2 4 1

Virginia.............................................. 326 18 60 72

63

60

51

30

24

46 25

21

14

8

1

Unit b a n k s ................................ 287 18 59 43

Banks operating branches 39 1 9 9 6 3 4 6 1

Washington...................................... 181 18 41 45 28

28

g 22 10

8

7 2

Unit b a n k s ................................ 173 18 41 45 7 22 4

Banks operatin g branches 8 1 2 3 2

W est Virginia.................................. 181 2 29 46 26 18 34 20

20

6

Unit b a n k s ................................ 179 2 29 46 25 18 33 6

Banks operating branches 2 1 1

Wisconsin..........................................

U nit b a n k s ................................

609

542

23

23

158

144

163

146

83

66

60

52

8

69

64

33

31

2

17

14

3

1 2

2

Banks operating branches 67 14 17 17 5 1

W yom ing........................................... 59 5 7 17 11 3 8 6 2

U nit b a n k s ................................ 59 5 7 17 11 3 8 6 2

Banks operating bra nches

P ossessions — t o t a l....................... 31 2 2 5 2 3 7 6 2 2

U nit b a n k s ..................................... 21 1 2 4 2 3 5 2 2

Banks op eratin g bra nches .. 10 1 1 2 4 2

Alaska................................................. 13 2 2 1 3 4 1

U nit b a n k s ................................ 12 2 2 1 3 3 1

Banks operating branches 1 1

H aw aii................................................ 11 1 1 1 2 2 2 2

U nit b a n k s ................................ 7 1 1 1 1 1 2

B anks operating branches 4 1 1 2

Puerto R ic o ...................................... 6 2 1 3

U nit b a n k s ................................ 2 1 1

Banks op erating bra nches 4 1 3

Virgin Islands of the United

States.................................... 1 1

Unit b a n k s ................................

Banks op erating bra nches 1 1

1 Includes 20 private banks under State supervision, 5 American branches of foreign banks, 8 trust companies which do not accept deposits and 4 new banks, for none 

of which are deposit figures available.

N O T E : Banks grouped by am ount o f deposits are grouped on the basis of daily average deposits O ctober 1 to Decem ber 31, 1935, except for noninsured commercial banks 

and all mutual savings banks which are grouped on the basis of deposits as of December 31, 1935.

NUMBER OP BANKS AND BRANCHES 139

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. N u m b e r OF OPERATING MUTUAL SAVINGS BANKS, DECEMBER 31, 1935 £

O

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE

Banks with deposits of—

All

banks $100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,COO,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

U nited S tates— t o t a l............................. 566 3 4 7 12 20 65 141 275 39

56 2 4 2 4 9 13 17 5

N on in su red b a n k s ......................... 510 1 4 3 10 16 56 128 258 34

State

Connecticut................ 73 1 2 12 22 35 1

N o n in su red b a n k s. . 73 1 2 12 22 35 1

Delaware 2 2

N o n in su red banks 2 2

Indiana............... 5 2 1 2

In su r ed ba nks 4 2 1 1

N o n in su red ba n ks 1 1

M ain e. . . . 32 1 1 5 8 12 5

In su r ed ba nks 6 3 2 1

N on in su red ba nks 26 1 1 2 8 10 4

M aryland.................................................... 13 1 1 1 1 1 1 6 1

In su r ed ba nks 2 1 1

N o n in su red ba nks 11 1 1 1 1 6 1

M assachusetts........................................ 193 1 1 2 7 17 56 102 7

N on in su red b a n k s ......................... 193 1 1 2 7 17 56 102 7

Minnesota 1 1

In su red banks 1 1

New Ham pshire. . . . 45 1 4 5 10 17 8

N on in su red banks 45 1 4 5 10 17 8

New Jersey...................... ................. 25 2 2 3 17 1

In su r ed ba nks 14 2 1 2 9

N o n in su red b a n k s . . . . 11 1 1 8 1

New Y o r k ................................................... 135 1 7 20 84 23

In su r ed ba nks 2 2

N o n in su red b a n k s ......................... 133 1 7 20 84 21

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
O hio.................................

In su r ed b a n k s ..........

N o n in su red b a n k s.

Oregon..................................

In su r ed b a n k s ..........

N o n in su red b a n k s .

Pennsylvania....................

In su r ed b a n k s ..........

N o n in su red b a n k s.

Rhode Island....................

In su r ed b a n k s ..........

N o n in su red b a n k s .

Verm ont..............................

In su r ed b a n k s ..........

N o n in su red b a n k s.

W ashington.......................

In su r ed b a n k s ..........

N o n in su red b a n k s .

W isconsin...........................

In su r ed b a n k s ..........

N o n in su red b a n k s .

9

14

14

NUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 109. N u m b e r OP OPERATING M UTUAL SAVINGS BA N K S, DECEM BER 31, 1935

UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE

All

Banks with deposits of—

banks $100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

U nited S ta tes— t o t a l............................. 566 3 4 7 12 20 65 141 275 39

U nit b a n k s ..........................................

Banks operating branches ....

485

81

3 4 7 12 20 61

4

134

7

226

49

18

21

State

Connecticut 73 1 2 12 22 35 1

Unit banks 72 1 2 12 22 34 1

Banks operating b r a n c h e s ....

I 1

2 2

TT f f 1 1

Banks op erating bra nches . . . .

Indiana

I 1

5 2 1 2

Unit banks 5 2 1 2

M ain e............................................................

XJnit banks

32

30

1 1 5 8 12 5

1 1 5 7 12 4

Banks operating bra nches ....

Maryland ................................

2 1 1

13 1 1 1 1 1 1 6 1

Unit banks 11 1 1 1 1 1 5 1

B anks operatin g bra nch es .... 2 1 1

Massachusetts . .... 193 1 1 2 7 17 56 102 7

Unit ba nks . . . . . . 164 1 1 2 7 15 50 84 4

Banks op eratin g bra nches . . . .

Minnesota

29 2 6 18 3

1 1

1 1

Hampshire 45 1 4 5 10 17 8

Unit banks 45 1 4 5 10 17 8

25 2 2 3 17 1

22

j

2 2 3 15

Banks op eratin g b r a n c h e s ....

2 1

New Y o rk ...................................................

U nit ba nks

135 1 7 20 84 23

98 1 7 19 62 9

Banks op eratin g b ra nches .... 37 1 22 14

142 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
O h io.........................................................

U nit b a n k s ...................................

B anks op era tin g bra n ch es .

Oregon...................................................

U nit b a n k s ...................................

B anks op eratin g bra n ch es .

Pennsylvania......................................

U nit b a n k s ...................................

B a nks op eratin g bra n ch es .

Rhode Islan d .....................................

Unit b a n k s ...................................

Banks op eratin g b ra nches .

Verm ont................................................

U nit b a n k s ...................................

B anks op eratin g bra n ch es .

W ashington.........................................

U nit b a n k s ...................................

Banks op eratin g bra n ch es .

W isconsin.............................................

U nit b a n k s ...................................

Banks op eratin g b ra nches .

734981

14

13133

CONUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 110. A n a ly s i s op C h a n g e s in N u m b e r o f B a n k s an d B r a n c h e s in t h e C o n t i n e n t a l U n i t e d S t a t e s D u r i n g 1935

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK

All banks

Total

B A N K S A N D B R A N C H E S

N u m ber, D ecem ber 31, 1935..........................................................................j

N u m b er' D ecem ber 31, 1934..........................................................................j 19,034

N et increase (or decrease) during 19 3 5 .......................................... 25

Increase— t o t a l.................................................................................................. ^09

Banks beginning operations...................................................................... 1°4

Branches opened for business................................................................... ^*>

Decrease— t o t a l................................................................................................. j 384

Banks ceasing operations...........................................................................

Branches discontinued. .

Changes in classification net

B anks..................................................

Branches............................................

86

Insured

17,296

17,203

93

357

136

221

318

235

83

54

62

8

Noninsured

1,763

1,831

68

52

48

4

66

63

3

54

62

8

Total

18,364

18,337

27

401

183

218

374

288

86

Commercial banks

Insured

Total

17,233

17,131

352

135

217

313

230

83

63

70

7

National

Members F. R.

System

6,713

6,705

18

70

112

91

21

32

3

35

State

1,953

1,961

19

2

17

*

47

12

35

20

31

11

N ot

members

F. R.

System

8,567

8,465

245

115

130

154

127

27

11

42

31

Noninsured

1,131

1,206

75

49

48

1

61

58

3

63

70

7

Mutual savings banks

Total

695

697

Insured

Nonnsured

632

625

N O TE: Italics indicate decrease.

144 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS

N u m b e r, D ecem ber 31, 1935....................

N u m b e r, D ecem ber 31, 1934....................

N et increase (or decrease) during 1935.

B anks begin ning operations— to ta l1 ...............................................

Reorganizations of or successions to restricted banks................

Reopenings of closed banks (in receivership or liquidation).

Organizations of new banks without predecessors......................

B anks ceasing operations— t o t a l .......................................................

Suspensions.....................................................................................................

Mergers, consolidations and absorptions— net decrease............

Other liquidations.......................................................................................

C hanges in classification— n e t .

Increase— t o t a l..................................................................................

Changes in charter jurisdiction2 .............................................

Other successions involving changes in classification . .

Other admissions to Federal Reserve membership. . . .

Other withdrawals from Federal Reserve membership.

Other admissions to insurance..................................................

Banks in operation at beginning of year3 .....................

Banks opened for business during year...........................

Other voluntary withdrawals from insurance...................

D ecrease— t o t a l..................................................................................

Changes in charter jurisdiction2 .....................;••••.............

Other successions involving changes in classification . .

Other withdrawals from Federal Reserve membership.

Other admissions to Federal Reserve membership. . . .

Other voluntary withdrawals from insurance...................

Other admissions to insurance..................................................

Successions n o t involving ch anges in classification .

,781 14,178 1,603 15,215

,895 14,215 1,680 15,320

114 37 77 105

184 136 48 183

77 72 5 76

22 19 3 22

85 45 40 85

298 235 63 288

34 26 8 34

171 158 13 164

93 51 42 90

62 62

197 155 42 189

21 15 6 21

4 2 2 4

35 35 35

3 3 3

100 100 100

79 79 79

21 21 21

34 34 26

197 93 104 189

21 20 1 21

4 2 2 4

3 3 3

35 34 1 35

34 34 26

100 100 100

28 21 7 28

14,122

14,147

25

135

71

19

45

230

26

153

51

70

155

15

2

35

3

100

79

21

21

5,386 1,001 7,735 1,093 566 56 510

5,462 980 7,705 1,173 575 68 507

76 21 30 80 9 12 3

18 2 115 48 1 1

3 2 66 5 1 1

3 16 3

12 33 40

91 12 127 58 10 5 5

4 22 8

73 11 69 11 7 5 2

14 1 36 39 3 3

3 31 42 70 8 8

9 36 110 34 8 8

9 1 5 6

2 2

35

3

100

79

21

26 8 8

12 5 68 104 8 8

12 2 6 1

2 2

3

34 1

26 8 8

100

7 2 12 7

!Banks beginning operations are classified as insured banks if admitted to insurance within one month after date of opening.

8Changes from Federal to State, or from State to Federal, jurisdiction.

in clu d e s six banks succeeding banks in operation at beginning of year and two banks resulting from consolidation of banks in operation at beginning of year, 

remained noninsured for a m onth or more after date of succession or consolidation.

N O T E : Italics indicate decrease.

These banks

cnNUMBER OF BANKS AND BRANCHES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table n o . A n a ly s is o f C h an ges in N u m ber o f B anks and B ran ch es in th e C o n tin e n ta l U n ited S ta te s D u rin g 1935— Continued

IN SU R E D AND N ON INSURED BA N K S GROUPED B Y CLASS OF B A N K £

All banks Commercial banks M utual savings banks

Insured

Total Insured

Noninsured

Total

Total

Members F. R.

System

N ot

members

N oninsured

Total Insured

N oninsured

(National State

F. R.

System

B R A N C H E S OF B A N K S

N u m b er, D ecem ber 31, 1935.......................................................................... 3,278

3,139

139

3,118

2,988

130

160 3,149 3,111 1,327 952 832 38 129 7 122

151 3,017 2,984 1,243 981 760 33 122 4 118

N et increase (or decrease) during 193 5 ...................................................... 9 132 127 84 29 72 5 7 3 4

B ran ch es opened for b u sin e ss— ’t o t a l ............................................. 225 221 4 218 217 70 17 130 1 7 4 3

New branches established 138 136 2 137 136 22 7 107 1 1 I

Banks converted into branches as result of mergers, consolidations and absorptions . . . . ............................. 87 85 2 81 81 48 10 23 6 4 2

B ranches discontinued 86 83 3 86 83 21 35 27 3

Changes in classification— net 8 8 7 35 11 31 7 1 1

Increase— t o t a l.........................................................................................i

Due to changes in classification of banks:

Chdngcs in chsrtcr jurisdiction j

61

8

50

8

11 60

8

50 35 12 3 10 1 1

8 8

Other successions involving changes in cld.ssific3.tion

Other admissions to Federal Reserve membership ....

Other withdrawals from Federal I^eserve membership

11 11 11 11 11

Other admissions to insurance 3 3 3 3 3

Other voluntary withdrawals from insurance 11 11 10 10 1 1

Branches changing classification as result of mergers,

28

61

28

58

28 28 27 1

D ecrease— total . . . ....................................... 3 60 57 23 34 3 1 1

Due to changes in classification of banks:

PliQnaPc in rhflrfpr inriQrlirnnn 8 8 8 8 8

Other successions involving chsngcs in classification

OfViAr xiyifViHrawolc from T? UlilCl WILXICII d Wcllo llUIli rCUCl al IXCOCi VC llltliuJti . pH pro 1 T? rnpTnK^r^nin

Other admissions to Federal Reserve membership . . . .

Other voluntary withdrawals from insurance

11

11

11

11

11 11 11

10 10 10 1 1

3 3 3 3

Branches changing classification as result of mergers,

28 28 28 28 15 13

N O T E : Italics indicate decrease.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 111. CO M M ER CIAL B A N K S B E G IN N IN G O P E R A T IO N S IN TH E C O N T IN E N T A L U N IT E D ST A T E S D U R IN G 1935

GROUPED B Y AMOUNT OF TOTAL C A PITA L ACCOUNT, B Y CLASS OF B A N K , B Y PO PU LA TIO N OF 

CE N TER , AND B Y N UM BER OF OTH ER B A N K S AND BRAN CH ES IN CE N TER

All

Banks with total capital account of—

banks Under

$25,000

$25,000

to

50,000

$50,000

to

100,000

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

1,000,000

$1,000,000

to

2,500,000

$2,500,000

to

5,000,000

$5,000,000

and

over

All banks— to t a l.............................................................. 183 31 89 36 15 10 2

Class of b an k :

Insured.......................................................................... 135 12 70 28 15 8 2

Members of Federal Reserve System......... 20 16 2 2

National................................................................... 18 15 1 2

State .......................................................................... 2 1 1

N ot members of Federal Reserve System . 115 12 70 12 13 6 2

Noninsured.................................................................. 48 19 19 8 2

Centers w ith population (1930) of—

Under 2 5 0 .................................................................... 7 2 4 1

250 to 5 0 0 .................................................................... 28 11 17

500 to 1 ,000................................................................ 35 11 23 1

1,000 to 2 ,5 0 0 ............................................................. 56 7 32 16 1

2,500 to 5 ,0 0 0 ............................................................ 18 9 8 1

5,000 to 10,000.......................................................... 8 2 4 2

10,000 to 25,000........................................................ 10 1 4 5

25,000 to 50,000........................................................ 6 2 3 1

1

50,000 and over......................................................... 15 1 2 ? 7

N um ber of other banks and branches in

center:

121 29 72 16 4

1 ........................................................................................ 39 2 15 16 5 1

2 ........................................................................................ 5 1 3 1

3 ........................................................................................ 2

i 1 1

4 ........................................................................................ 2 1 1

5 ....................................................................................... 1 1

........................................................................................

8 or m ore...................................................................... 13 1 2 2 7 1

NUMBER OF BANKS AND BRANCHES

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Federal Reserve Bank of St. Louis
T able 112. COMMERCIAL BANKS CEASING OPERATIONS IN THE CONTINENTAL UNITED STATES DURING 1935’

GROUPED BY AMOUNT OF TOTAL CAPITAL ACCOUNT, BY CLASS OF BANK, BY POPULATION OF

CE N TER , AND B Y N U M BER OF OTHER B A N K S AND BR AN CH ES IN CE N TER

Banks with total capital account ofbanks Under

$25,000

$25,000

to

50,000

$50,000

to

100,000

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

1,000,000

$1,000,000

to

2,500,000

$2,500,000

to

5,000,000

$5,000,000

and

over

288 85 90 50 35 18 9 1

Class of b an k :

230 48 78 48 30 17 8 1

103

91

32 32 19 13 7

29 30 1 / 11 6 2

St at e. . . . 12 3 2 2 2 1 2

N ot members of Federal Reserve System .

Noninsured

127

58

48 46 16 11 4 1 1

37 12 2 5 1 1

Centers w ith population (1930) of—

Under 250 57 40 16 1

250 to 500 47 23 22 2

500 to 1 000 48 14 26 6 2

1,000 to 2,500 58 8 18 26 5 1

2,500 to 5,000 18 5 9 3 1

5,000 to 10,000 19 1 6 9 4 1

10 000 to 25 000 15 8 6 1

25 000 to 50 000 8 3 3 4 2

50,000 and over 18 2 5 3 5 3

N um ber of other banks and branches in

cen ter:

163 72

12

63 20 5 3

1 76 23 25 13 5 2

2 24 1 2 5 8 6 2

3 6 5 1

4 1 3 2

5 4 1 2 1

6 2 1 1

7 1 1

8 or more 11 1

3

3 3 1

1Mergers and consolidations are treated on a net basis in this table. Net increases reported in some of the larger size classifications— indicated by italics— result from

the consolidation of two or more banks into a larger institution.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 113. O p e r a t i n g B a n k s W h i c h W i t h d r e w F r o m I n s u r a n c e D u r i n g 19351

Location

Colorado— Burlington...................

Connecticut— H artford.................

Connecticut— Stratford................

Connecticut— Thompsonville . .

Connecticut— W atertow n...........

Illinois— East A lto n.......................

Illinois— K e ll......................................

Indiana— Sandborn........................

Iowa— Cresco.....................................

Iowa— Cresco....................................

Iowa— M itchell................................

Iowa— Schaller.................................

Kentucky— Louisville...................

Maine— Bangor................................

Maine— B a th .....................................

Maine— M illinocket.......................

Maine— Portland.............................

Maine— Rangeley............................

Michigan— Three O aks................

Minnesota— O gilvie........................

Nebraska— M e Cool Junction . .

New Hampshire— Salmon Falls

New Jersey— M ontclair................

New Jersey— M orristow n...........

New Jersey— N ew ark....................

New Jersey— N ew ark...................

New Jersey— Orange.....................

New Jersey— Orange.....................

New Jersey— Paterson.................

New Jersey— Plainfield................

New Jersey— R aritan....................

North Carolina— Lenoir..............

Pennsylvania— Pittsburgh..........

South Dakota— Elk P o in t..........

Name of bank

The Bank of Burlington..............................

The Hartford-Connecticut Trust Co. . . .

The Stratford Trust Com pany.................

The Thompsonville Trust Com pany. . .

The Watertown Trust Co............................

Illinois State Bank of East A lto n...........

Kell State B ank...............................................

The Sandborn Banking Co..........................

Cresco State B ank..........................................

The Cresco Union Savings B a n k .............

Mitchell Savings B ank.................................

Schaller Savings B ank..................................

Bank of Commerce.........................................

Eastern Trust and Banking Company . .

Bath Trust Com pany....................................

Millinocket Trust Com pany......................

Maine Savings B ank......................................

Rangeley Trust Com pany...........................

The Bank of Three O aks.............................

First State Bank of Ogilvie........................

The Blue River B ank....................................

Salmon Falls Bank . . . ...............................

The Montclair Savings B ank.....................

The Morris County Savings B a n k ..........

The Dime Savings Institution..................

Franklin Savings Institution of Newark

The Half Dime Savings B ank...................

Orange Savings B ank....................................

The Paterson Savings Institution...........

Plainfield Savings B ank................................

Raritan State B ank........................................

Lenoir Industrial Bank, Inc.3 ....................

The Union Savings Bank of Pittsburgh .

The Union County B ank.............................

Class of

bank

Commercial

Mutual savings

Commercial

Mutual savings

Commercial

Mutual savings

Commercial

Population

of center

19302

1,280

164,072

19,212

9,643

3,GOO

4,502

187

641

3.069

3.069

177

724

307,745

28,749

9,110

5,350

70,810

866

1,336

344

356

500

42,017

15,197

442.327

442.327

35.399

35.399

138,513

34,422

4,751

6,532

669,817

1,294

Number of

other banks

and branches

in center2

10

1

1

6

4

47

47

5

5

17

5

1

2

51

Deposits (in

thousands of

dollars)2

382

39,828

1,608

1,835

893

2,023

67

206

496

1,799

71

302

1,417

8,346

1,900

1,397

25,067

716

1,177

91

128

87

10,258

15,511

7,530

30,969

8,250

8,115

28,427

3,486

908

40

29,757

552

Date of termination of

insurance

October 12, 1935

August 31, 1935

October 12, 1935

1 Excludes one bank which had paid all of its deposits through voluntary liquidation before applying for permission to withdraw from insurance.

2 As reported in Rand M cN ally Bankers Directory for December 31, 1935.

8 This bank was subsequently readm itted to insurance.

NUMBER OF BANKS AND BRANCHES

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Federal Reserve Bank of St. Louis
DEPOSITS IN BANKS

Table 114. DEPOSITS IN OPERATING B a n k s, DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 19351

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS

(Deposits in thousands of d o l l a r s ) ______________________________________________

All banks

U nited States and

P ossessions— total

B anks w ith deposits o f

$100,000 and under............

$100,000 to $250 ,00 0.........

$250,000 to $500 ,00 0.........

$500,000 to $750 ,00 0.........

$750,000 to $1,000,000. . .

$1,000,000 to $2,000,000 .

$2,000,000 to $5,000,000 .

$5,000,000 to $50,000,000

Over $ 5 0 ,0 0 0 ,0 0 0 ..............

States— t o t a l................

Alabam a.......................

Arizona.........................

Arkansas......................

California....................

C olorado.......................

Connecticut................

Delaw are......................

District of Columbia

Florida..........................

Georgia.........................

Idah o.............................

Illinois...........................

Indiana.........................

Iow a...............................

K ansas..........................

54,260,226

94,813

618,222

1,234,349

1,086,250

921,736

2,718,369

4,276,272

14,106,648

29,203,567

54,142,739

241,562

62,672

164,944

3,542,533

296,371

1,195,436

152,274

301,032

248,119

387,498

77,076

3,469,248

684,276

532,605

380,716

43,954,646

73,770

561,010

1,170,239

Insured N oninsured2

10,305,580

21,043

57,212

64,110

1,044,611 41,639

876,154 45,582

2,561,303 157,066

3,758,235

9,453,030

24,456,294

43,951,301

239,612

62,672

163,932

3,521,310

294,159

442,770

121,054

301,032

245,376

382,527

70,590

3,460,557

665,432!

502,457;

325,790!

518,037

4,653,618

4,747,273

10,191,438

1,950

1,012

21,223

2,212

752,666

31,220

2,743

4,971

6,486

8,691

18,844

30,148

54,926

Commercial banks

Total

44,383,250

94,612

617,442

1,231,638

1,078,853

904,789

2,617,212

3,807,187

9,741,647

24,289,870

44,265,763

241,562

62,672

164,944

3,542,533

296,371

511,770

121,207

301,032

248,119

387,498

77,076

3,469,248

664,311

532,605

380,716

Insured

Total

42,976,811

73,666

561,010

1,168,592

1,043,287

872,730

2,547,175

3,723,885

9,254,8C2

23,731,664

42,973,466

239,612

62,672

163,932

3,521,310

294,159

442,770

121,054

301,032

245,376

382,527

70,590

3,460,557

651,949

502,457

325,790

Members F R.

System

National State

24,151,741

4,034

109,285

425,231

496.770

446.770

1,406,532

2,283,853

5,502,874

13,476,392

24,151,741

172,193

41,010

86,016

2,459,940

250,734

262,506

16,757

172,450

193,959

273,018

32,766

2,535,788

350,844

217,697

223,518

13,206,864

974

20,85C

62,667

73,329

64,402

222,103

510,174

2,354,886

9,897,479

13,206,864

32.357

7,357

16,159

663,297

21.357

62,765

64,853

71,233

7,632

51,298

27,486

625,154

38,653

72,817

15,122

N ot

members

F. R.

System

5,618,206

68,658

430,875

680,694

473,188

361,558

918,540

929,858

1,397,042

357,793

5,614,861

35,062

14,305

61,757

398,073

22,068

117,499

39,444

57,349

43,785

58,211

10,338

299,615

262,452

211,943

87,150

N oninsured2

1,406,439

20,946

56,432

63,046

35,566

32,059

70,037

83,30?

486,845

558,206

1,292,297

1,950

1,012

21,223

2,212

69,000

153

2,743

4,971

6,486

8,691

12,362

30,148

54,926

Mutual savings banks2

Total

9,876,976

201

780

2,711

7,397

16,947

101,157

469,085

4,365,001

4,913,697

9,876,976

683,666

31,067

19,965

Insured

977,835

1,647

1,324

3,424

14,128

34,350

198,228

724,630

977,835

N on ­

insured

5,899,141

97

78C

1,064

6,073

13,523

87,029

434,735

4,166,773

4,189,067

5,899,141

683,666

31,067

6,482

Percent of deposits

in insured banks

All

banks

81.0

77.8

90.7

94.8

96.2

95.1

94.2

87.9

67.0

83.7

81.2

99.2

100.0

99.4

99.4

99.3

37.0

79.5

100.0

98.9

98.7

91.6

99.7

97.2

94.3

85.6

Com ­

mercial

banks

96.8

M u tual

savings

banks

96.7

96.5

97.3

99.2

100.0

99.4|

99.4

99.3

86.5

99.9

100.0

98.9

98.7

91.6

99.7!

98.1!

94.31

85.61

9.9

77.9j 51.7

9 0.9j............

94.9 60.8

17.9

20.2

14.0

97.8 7.3

95.0 4.5

97.7 14.7

97.1

67.5

cn

OFEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
K entucky..........

Louisiana...........

M a in e ..................

M arylan d...........

M assachusetts.

Michigan . .

M innesota.

M ississippi.

M issouri. . .

M on tan a. . .

N ebraska................

N e va d a....................

New Hampshire . .

N ew Jersey..............

New M exico..........

New Y o r k ...........

North Carolina .

North Dakota . .

O h io......................

Oklahom a..........

O regon................

Pennsylvania . .

Rhode Island . .

South Carolina .

South D a k o ta . .

Tennessee. .

T e xas...........

U ta h.............

V erm ont. . .

Virginia

Washington . .

W est Virginia .

W isconsin. . . .

W yom ing ....

P ossessions— t o t a l.

A laska.............................

H aw aii.............................

Puerto R ic o ..................

Virgin Islands of the

United States..........

390,174

359,517

307,660

729,715

3,869,708

1,151,974

868,427

158,252

1,286,720

130,930

315,523

24,900

264,220

1,872,240

43,697

18,353,515

375,878

73.126

1,979,837

386,223

241,667

4,697,512

459,285

125,838

84,044

425,378

1,144,235

138,909

168,666

499,945

431,671

245,623

743,809

57,559

117,487

12,988

94,373

10.126

378,603

359,108

186,237

485,290

1,729,441

1,110,660

858,941

154,932

1,279,327

130,804

304,361

24,704

72,560

1,653,379

43,195

12,985,754

372,558

71,713

1,974,910

383,068

241,607

4,112,512

225,030

118,135

83,492

423,064

1,123,703

138.909

168,666

498,976

425.909

239,904

735,020

57,559

3,345

2,279

1,066

11,571

409

121,423

244,425

2,140,267

41,314

9,486

3.320

7,393

126

11,162

196

191,660

218,861

502

5,367,761

3.320

1,413

4,927

3,155

60

585,000

234,255

7,703

552

2,314

20,532

5,762

5,719

8,789

114,142

10,709

93,307

10,126

390,174

359,517

186,001

521,968

1.777.720

1,151,974

804,114

158,252

1.286.720

130,930

315,523

24,900

78,791

1,549,271

43,697

13,164,570

375,878

73.126

1,863,284

386,223

240,866

4,155,111

288,232

125,838

84,044

425,378

1,144,235

138,909

100,173

499,945

376,170

245,623

739,383

57,559

117,487

12,988

94,373

10.126

378,603

359,108

171,885

484,080

1,729,441

1,110,660

794,628

154,932

1,279,327

130,804

304,361

24,704

72,560

1,518,540

43,195

12,486,703

372,558

71,713

1,858,357

383,068

240,806

4,107,137

225,030

118,135

83,492

423,064

1,123,703

138,909

100,173

498,976

370,408

239,904

731,156

57,559

3,345

2,279

1,066

214,452

258,430

111,179

294,792

1,275,832

641,973

644,030

57,062

591,770

77,307

245,055

20,540

63,422

690,254

33,898

4,840,032

87,780

53,730

868,852

340,156

211,005

2,420,280

82,426

68,029

50,903

316,147

986,415

70,805

48,550

316,170

299,040

127,717

413,368

41,144

35,587

31,062

30,753

90,723

351,584

271,439

6,347

1,216

495,874

32,965

4,003

1,305

505,498

2,020

7,074,471

142,625

* '691,966

506

3,605

1,148,415

136,392

7,960

10,787

13,820

39,469

44,633

78,446

42,401

58,613

71,315

3,584

128,564

69,616

29,953

98,565

102,025

197,248

144,251

96,654

191,683

20,532

55,303

4,164

7,833

322,788

7,277

572,200

142,153

17,983

297,599

42,406

26,196

538,442

6,212

42,146

21,802

93,097

97,819

23,471

51,623

104,360

28,967

53,574

246,473

12,831

3,345

2,279

1,066

11,571

409

14,116

37,888

48,279

41,314

9,486

3.320

7,393

126

11,162

196

6,231

30,731

502

677,867

3.320

1,413

4,927

3,155

60

47,974

63,202

7,703

552

2,314

20,532

121,659

207,747

2,091,988

5,188,945

969

5,762

5,719

8,227

114,142

10,709

93,307

10,126

185,429

322,969

116,553

801

542,401

171,053

68,493

55,501

’ 4,426

14,352

1,210

107,307

206,537

2,091,988

134,839

499,051 4,689,894

116,553

801

5,375

68,493

55,501

3,864

185,429

188,130

537,026

171,053

97.0 97.0

99.9 99.9

60.5 92.4 11.8

66.5 92.7 .6

44.7 97.3

96.4 96.4

98.9 98.8 100.6

97.9 97.9

99.4 99.4

99.9 99.9

96.5 96.5

99.2 99.2

27.5 92.1

88.3 98.0 41.7

98.9 98.9

70.8 94.9 9.6

99.1 99.1

98.1 98.1

99.8 99.7 100.0

99.2 99.2

99.9 99.9 100.0

87.5 98.8 1.0

49.0 78.1

93.9 93.9

99.3 99.3

99.5 99.5

98.2 98.2

100.0 100.0

100.0 100.0 100.0

99.8 99.8

98.7 98.5 100.0

97.7 97.7

98.8 98.9 87.3

100.0 100.0

2.8 2.8

17.5 17.5

1.1 1.1

1See footnote 1, Table 102, for number of banks without deposits or for which deposits are not available.

2Deposits as of December 31, 1935.

DEPOSITS IN BANKS

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Federal Reserve Bank of St. Louis
T a b le 115. DEPOSITS IN OPERATING UNIT BANKS, DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 1 9 3 5 1

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS

(Deposits in thousands of dollars)

U nited States and

P ossessions— total .

B anks w ith deposits of

$100,000 and under.

$100,000 to $250 ,00 0..

$250,000 to $500 ,00 0..

$500,000 to $ 7 5 0 ,0 0 0 ....

$750,000 to $1,000,000. .

$1,000,000 to $2,000,000

$2,000,000 to $5,000,000

$5,000,000 to $50,000,000

Over $50,000,000 ...........

S tates— t o t a l.

Alabama . .

Arizona . . .

Arkansas. .

California.

Colorado. .

Connecticut................

Delaware......................

District of Columbia

Florida..........................

Georgia.........................

Idah o. .

Illinois. .

Indiana .

Iowa . . .

Kansas .

All banks

26,841,276

94,706

605,718

1,196,044

1,037,875

879,993

2,582,470

3,870,397

9,135,689

7,438,384

26,822,334

188,523

21,470

161,551

571,034

296,371

1,017,759

43,496

77,757

248,119

151,028

37,870

3,469,248

528,536

462,189

380,716

Insured

20,824,062

73,663

548,975

1,133,809

997,386

836,106

2,443,440

3,398,733

5,741,206

5,650,744

20,821,783

186,573

21,470

160,539

565,775

294,159

338,053

35,577

77,757

245,376

146,458

31,384

3,460,557

510,056

436,191

325,790

N oninsured2

6,017,214

21,043

56,743

62,235

40,489

43,887

139,030

471,664

3,394,483

1,787,640

6,000,551

1,950

1,012

5,259

2,212

679,706

7,919

2,743

4,570

6,486

8,691

18,480

25,998

54,926

Commercial banks

Total

21,525,666

94,505

604,938

1,193,333

1,030,478

863,046

2,488,187

3,426,783

5,923,300

5,901,096

21,506,724

188,523

21,470

161,551

571,034

296,371

367,225

35,730

77,757

248,119

151,028

37,870

3,469,248

508,571

462,189

380,716

Insured

Total

20,316,557

73,559

548,975

1,132,162

996,062

832,682

2,429,312

3,364,383

5,596,532

5,342,890

20,314,278

186.573

21,470

160,539

565,775

294,159

338,053

35,577

77,757

245,376

146,458

31,384

3,460,557

496.573

436,191

325,790

Members F. R.

System

N ational

13,273,269

4,034

109,285

424,921

494,940

443,199

1,398,450

2,186,686

3,970,688

4,241,066

13,273,269

121,527

9,443

86,016

419,179

250,734

179,224

16,757

39,311

193,959

54,110

17,852

2,535,788

269,012

217,697

223,518

State

2,899,932

974

20,708

62,363

72,797

64,402

215,065

431,552

930,247

1,101,824

2,899,932

32,053

7,357

16,159

44,550

21,357

62,765

9,378

7,632

34,758

5,594

625,154

7,626

72,817

15,122

Not

members

F. R.

System

4,143,356

68,551

418,982

644,878

428,325

325,081

815,797

746,145

695,597

4,141,077

32,993

4,670

58,364

102,046

22,068

96,064

9,442

38,446

43,785

57,590

7,938

299,615

219,935

145,677

87,150

Noninsured2

20,946

55,963

61,171

34,416

30,364

58,875

62,400

326,768

558,206

1,192,446

1,950

1,012

5,259

2,212

29,172

153

2,743

4,570

6,486

8,691

11.998

25.998

54,926

Mutual savings banks2

Total

5,315,610

201

780

2,711

7,397

16,947

94,283

443,614

3,212,389

1,537,288

5,315,610

650,534

7,766

19,965

Insured

4,808,105

104

1,647

1,324

3,424

14,128

34,350

144,674

307,854

507,505

13,483

N oninsured

97

780

1,064

6,073

13,523

80,155

409,264

3,067,715

1,229,434

4,808,105

650,534

7,766

6,482

Percent of deposits

in insured banks

All

banks

Com ­

mercial

banks

77.6

77.

90.7

94.8

96.1

95.0

94.6

87.8

62.8

76.0

77.6

99.0

100.0

99.4

99.1

99.3

33.2

81.

100.0

98.9

97.0

82.9

99.8

96.5

94.4

85.6

Mutual

savings

banks

77.8

90.7

94.9

96.7

96.5

97.6

98.2

94.5

90.5

94.5

99.0

100.0

99.4

99.1

99.3

92.1

99.6

100.0

98.9

97.0

82.9

99.8

97.6

94.4

85.6

9.5

51.7

60.8

17.9

20.2

15.0

7.7

4.5

20.0

9.5

67.5

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky..........

Louisiana...........

M a in e ..................

M aryland..........

Massachusetts .

M ichigan. . .

M innesota. .

Mississippi.

M issouri. . .

M ontana. . .

Nebraska................

N evad a....................

New Hampshire . .

New Jersey.............

New M exico..........

New Y o r k ...........

North Carolina .

North Dakota . .

O hio......................

Oklahoma..........

Oregon ................

Pennsylvania. .

Rhode Island . .

South Carolina.

South Dakota . .

Tennessee.

Texas. . . .

U ta h ...........

Verm ont. .

Virginia. . .

W ashington. . .

W est Virginia .

W isconsin. . . .

W yom ing. . . .

Possessions— t o t a l.

A laska.............................

H aw aii..........................

Puerto R ic o ................

Virgin Islands of the

United States

258,145

127,789

208,556

402,281

2,154,686

364,746

625,877

137,463

1,286,720

130,930

302,445

9,005

263,658

932,163

40,956

4,506,649

204,315

73,126

959,033

386,223

70,927

2,523,882

189,015

71,608

61,787

255,660

1,144,235

87,517

140,126

287,232

198,549

243,855

459,949

57,559

18,942

11,520

6,039

1,383

246.574

127,380

123,866

178,861

512,295

327.575

616,391

134,143

1,279,327

130.804

291,283

8,809

71,998

802,037

40,454

1,988,323

204,315

71,713

954,106

383,068

70,867

2,429,263

35,953

63,905

61,235

253,346

1,123,703

87,517

140,126

286.804

192,787

238,136

451,545

57,559

2.279

2.279

11,571

409

84,690

223,420

1,642,391

37,171

9,486

3,320

7,393

126

11,162

196

191,660

130,126

502

2,518,326

1,413

4,927

3,155

60

94,619

153,062

7,703

552

2,314

20,532

428

5,762

5,719

8,404

16,663

9,241

6,039

1,383

258,145

127,789

113,646

214,279

560,574

364,746

561,564

137,463

1,286,720

130,930

302,445

9,005

78,229

741,116

40,956

2,583,915

204,315

73.126

842,480

386,223

70.126

2,469,478

82,028

71,608

61,787

255,660

1,144,235

87,517

82,000

287,232

143,048

243,855

455,523

57,559

18,942

11,520

6,039

1,383

246.574

127,380

109,514

177,651

512,295

327.575

552,078

134,143

1,279,327

130.804

291,283

8,809

71,998

710,385

40,454

1,906,048

204,315

71,713

837,553

383,068

70,066

2,423,888

35,953

63,905

61,235

253,346

1,123,703

87,517

82,000

286.804

137,286

238,136

447,681

57,559

2.279

2.279

108,988

51,663

98,063

109,397

350,354

121,068

401,480

55,883

591,770

77,307

231,977

4,645

62,860

432,875

33,898

1,263,091

77,027

53,730

498,705

340,156

41,377

1,641,906

32,596

35,288

28,786

179,474

986,415

20,367

46,854

191,246

85,757

127,717

215,278

41,144

23,387

24,843

2,911

19,203

102,215

86,777

6,347

1,216

495,874

32,965

4,003

1,305

95,033

2,020

294,025

66,188

94,509

506

3,605

336,867

3,082

10,787

13,820

39,469

44,633

24,210

25,696

58,613

19,917

3,584

114,199

50,874

8,540

49.051

59,726

119,730

144,251

77,044

191,683

20,532

55,303

4,164

7,833

182,477

4,536

348,932

61,100

17,983

244,339

42,406

25,084

445,115

3,357

25,535

21,662

60.052

97,819

22,517

35,146

71,348

25,833

51,806

212,486

12,831

2.279

2.279

11,571

409

4,132

36,628

48,279

37,171

9,486

3,320

7,393

126

11,162

196

6,231

30,731

502

677,867

1,413

4,927

3,155

60

45,590

46,075

7,703

552

2,314

20,532

1,922,734

116,553

428

5,762

5,719

7,842

16,663

9,241

6,039

1,383

94,910

188,002

1,594,112

64,313

185,429

191,047

801

54,404

106,987

58,126

55,501

4,426

14,352

1,210

64,313

91,652

82,275

116,553

1,840,459

801

5,375

58,126

55,501

3,864

80,558

186,792

1,594,112

185,429

99,395

49,029

106,987

95.5 95.5

99.7 99.7

59.4 96.4 15.1

44.5 82.9 .6

23.8 91.4

89.8 89.8

98.5 98.3 100.0

97.6 97.6

99.4 99.4

99.9 99.9

96.3 96.3

97.8 97.8

27.3 92.0

86.0 95.9 48.0

98.8 98.8

44.1 73.8 4.3

100.0 100.0

98.1 98.1

99.5 99.4 100.0

99.2 99.2

99.9 99.9 100.0

96.3 98.2 9.9

19.0 43.8

89.2 89.2

99.1 99.1

99.1 99.1

98.2 98.2

100.0 100.0

100.0 100.0 100.0

99.9 99.9

97.1 96.0 100.0

97.7 97.7

98.2 98.3 87.3

100.0 100.0

12.0 12.0

19.8 19.8

xSee footnote 1, Table 103, for number of banks without deposits or for which deposits are not available.

2Deposits as of December 31, 1935.

DEPOSITS IN BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 116. DEPOSITS IN BANKS OPERATING BRANCHES, DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 1935

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES AND POSSESSIONS

( D e p o s its in th o u sa n d s o f d o lla rs)

All banks Commercial banks Mutual savings banks1 Banks operating branch 

systems that are—

Percent of deposits 

in insured banks

Insured

Commercial

M uTotal Insured Noninsured Total

Total

Members F. R. 

System

Not 

members 

F. R. 

System

Noninsured

C )

Total Insured

Nonin?uredCitywide

Countywide

In more 

than one 

county

All

banks

tual

savings

banks National State

banks

U nited States and Possess io n s-to ta l............. 27,412,222 23,130,584 4,281,638 22,857,584 22,660,254 10,878,472 10,306,932 1,474,850 197,330 4,554,638 470,330 4,084,308 (Possessio ns not clas sified) 84.4 99.1 10.3

Banks with deposits of—

$100,000 and under........

$100,000 to $250,000. . . . 

$250,000 to $500,000.. . .

$500,000 to $750,000____

$750,000 to $1,000,000. . 

$1,000,000 to $2,000,000.

$2,000,000 to $5,000,000. 

$5,000,000 to $50,000,000 

'RSft non oon

107

12,504

38.305

48,375

41,743

135,899

405,875

4,964,231

21,765,183

27,313,677

107

12,035

36,430

47,225

40,048

117,863

359,502

3,711,824

18,805,550

23,129,518

107

12,504

38,305

48,375

41,743

129,025

380,404

3,818,347

18,388,774

22,759,039

107

12,035

36,430

47,225

40,048

117,863

359,502

3,658,270

18,388,774

22,659,188

107 100.0 100.0

469

1,875

1,150

1,695

18,036

46,373

1,252,407

2,959,633

4,184,159

142

304

532

11,893

35,816

44,863

36,477

102,743

183,713

701,445

357,793

1,473,784

469 96.2 96.2

310 1,875

1,150

1,695

11,162

20,902

160,077

95.1 95.1

1 830 97.6 97.6

3,571

8,082

97,167

1,532,186

9,235,326

10,878,472

95.9 95.9

7,038

78,622

1,424,639

8,795,655

10,306,932

6,874

25,471

1,145,884

3,376,409

4,554,638

6,874

25,471 

1,092,330 

2,959,633

4,084,308

86.7 91.3

88.6 94.5

53,554

416,776

470,330

74.8

86.4

95.8

1G0.0

4.7

12.3

States— to ta l...................... 99,851 21,038,163 1,925,351 4,350,163 84.7 99.6 10.3

AlflbftlTld 53,039

41,202

3,393

2,971,499

53,039

41,202

3,393

2,955,535

53,039

41,202

3,393

2,971,499

53,039

41,202

3,393

2,955,535

50,666

31,567

304 2,069

9,635

3,393

50,970

9,022

2,069 100.0 100.0

Arizon& 32,180 100.0 100.0

Arkansas 2,659

240,840

734 100.0 100.0

California 15,964 2,040,761 618,747 296,027 15,964 538,415 2,192,244 99.5 99.5

Connecticut 177,677

108,778

223,275

104,717

85,477

223,275

72,960

23,301

144,545

85,477

223,275

104,717

85,477

223,275

83,282 21,435

30,002

18,903

39,828 33,132

23,301

33,132

23,301

137,849

78,777

223,275

39,828 58.9 72.4

Delaware 55,475

71,233

2,365 27,636 78.6 100.0

District of Colum bia... . 133,139 100.0 100.0

236,470

39,206

236,069

39,206

401 236,470

39,206

'236,069

39,206

218,908

14,914

16,540

21,892

621 401 150,588 621 85,261

38,574

99.8 99.8

Idaho 2,400 632 100.0 100.0

Indiana 155,740

70,416

155,376

66,266

364

4,150

155,740

70,416

155,376

66,266

81,832 31,027 42,517

66,266

364 135,984 18,530

51,411

1,226 99.8 99.8

4,150 19,005 94.1 94.1

Kentucky 132,029

231,728

99,104

327,434

1,715,022

132,029

231,728

62,371

306,429

1,217,146

132,029

231,728

72,355

307,689

1,217,146

132,029

231,728

62,371

306,429

1,217,146J

105,464

206,767

13,116

185,395

925,478

12,200

6,219

27,842

14,365

18,742

21,413

117,664

210,081

32,104

260,087

1,492,182

7,910

17,255

20,964

11,055

211,490

(>,455

4,392

46,036

100.0 100.0

Louisiana 100.0 100.0

Maine 36,733

21,005

497,876

9,984

1,260

26,749

19,745

497,876

26,749

19,745

497,876

62.9 86.2

Maryland 71,520

249,369

49,514

42,299

56,292

11,350

93.6 99.6

Massachusetts............. 71.0 100.0

154 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Michigan. . . 

Minnesota. . 

Mississippi. 

Missouri. . . 

Montana . . .

787,228

242,550

20,789

783,085

242,550

20,789

4,143 787,228

242,550

20,789

783,085

242,550

20,789

520,905 184,662 

242,550 

1,179

77,518 4,143 622,014 151,355

242,550 ................

6,592

13,859 

’ 14,i97

99.5 100.0

100.0

99.5 100.0

100.0

Nebraska . . ......

N evada...............

New Hampshire. ,

New Jerse.y........

New Mexico ....

New York...........

North Carolina . 

North Dakota . .

Ohio.....................

Oklahoma...........

Oregon..............

Pennsylvania . . , 

Rhode Island . . 

South Carolina . 

South Dakota . .

13,078

15,895

562

940,077

2,741

13,840,138

171,563

13,078!

15,895

562

851,342

2,741

88,735

10,997,43112,842,707 

168,2431 3,320

13,078

15,895

562

808,155

2,741

10,580,655

171,563

13,078

15,895

562

808,155

2,741

10,580,655

168,243

13,078

15,895

562

257,379 410,465

3,576,941

10,753

6,780,446

76,437

140,311

2,741

223,268

81,053

131,922

13,078 

’ ‘540,324

1,420

3,259,483 416,776 2,842,707 13,423,691 

16,500

348,985

1,098

204,224

5,144

14,475

562

50,768

1,643

212,223

149,919

100.0

100.0

100.0

90.6

100.0

79.5

98.1

100.0

100.0

100.0

100.0

100.0

100.0

98.1

1,020,804 370,147 53,260 323,249 299,078

Tennessee. . . .

Texas...............

U tah................

Vermont.........

Virginia...........

Washington . . 

West Virginia. 

Wisconsin .... 

Wyoming ....

170,740

2,173,630

270,270

54,230

22,257

169,718

170,740

1,683,249

189,077

54,230

22,257

169,718

490,381

81,193

170,740

1,685,633

206,204

54,230

22,257

169,718

170,740

1,683,249

189,077

54,230

22,257

169,718

169,628

778,374

49,830

32,741

22,117

136,673

811,548

136,392

4,878

1,112

93,327

2,855

16,611

140

33,045

2,384

17,127

487,997

64,066

487,997

64,066

1,922,084

74,528

4,878

1,112

26,578

59,349

1,753

59,683

169,628

224,968

136,393

47,599

22,257

57,279

100.0

77.4

70.0

100.0

100.0

100.0

100.0

99.9

91.7

100.0

100.0

100.0

51,392

28,540

212,713

233,122

1,768-

283,86c

51,392

28,540

212,172

233,122

1,768

283,475

51,392

18,173

212,713'

233,122

1,768

385 283,860

97,479 98,545

1,468 1,468

87,268 88,334

8,743 8,743

0 O

51,392

18,173

212,172

233,122

1,768

283,475

50,438

1,696

124,924

213,283

’ 198,690

16,705

954

16,477

33,012

3,134

1,768

33,987

10,367 10,367

95,926

3,335

1,094

242,995

11,930

19,510

18,005

15,118

674

30,775

39,46-2

9,030

98,782

214,669

100.0

100.0

99.7

100.0

100.0

99.9

100.0 I

100.0 100.0

99.7

100.0

100.0

99.9

Possessions— total.

Alaska.........................

Hawaii.........................

Puerto R ico................

Virgin Islands of the 

United States. . . .

1,468

88,334

8,743

0

1,066 

’ 1,666

1,066 

’ 1,066

1,066 

’ 1,066

97,479

1,468

87,268

8,743

O

(Possessio sified)

1 D eposits as o f D ecem ber 31, 1935. 2 Deposits not available.

DEPOSITS IN BANKS 155

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 117. DEPOSITS IN OPERATING COMMERCIAL BANKS, DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 1 9 3 5 1

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

Ol

Ci

U n ited States an d Possessions

t o t a l..........................................

In su red b a n k s .............................

N on in su red b a n k s ....................

States— t o t a l..................

In su red b a n k s ..........

N on in su red b a n k s .

Alabam a..............................

In su r e d b a n k s ..........

N o n in su red b a n k s.

Arizona................................

In su r ed b a n k s ..........

N o n in su red b a n k s.

Arkansas.............................

In su red b a n k s ..........

N on in su red banks .

California............................

In su red b a n k s ..........

N on in su red b a n k s .

C olorado.............................

In su r ed b a n k s ..........

N o n in su red b a n k s .

Connecticut.......................

In su red b a n k s ..........

N o n in su red b a n k s.

Delaware............................

In su r ed b a n k s ..........

N on in su red b a n k s.

District of Columbia . .

In su red b a n k s ..........

N o n in su red b a n k s.

Florida.................................

In su r ed b a n k s ..........

N on in su red b a n k s .

Georgia................................

In su r ed b a n k s ..........

N o n in su red ba n ks .

All

banks

Banks with deposits of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

44,383,250

42,976,811

1,406,439

44,265,763

42,973,466

1,292,297

241,562

239,612

1,950

62.672

62.672

164,944

163,932 1,012

!,542,533

1521,310

21,223

296,371

294,159 2,212

511.770

442.770

69,000

121,207

121,054

153

301.032

301.032

248,119

245,376

2,743

387,498

382,527

4,971

(Deposits in thousands of dollars)

94,612

73.666

20,946

94,600

73.666

20,934

1,491

1,368

123

3,341

2,920

421

199

106

93

1,196

633

563

95

89

6

426

273

153

1,221

1,161

60

4,009

2,501

1,508

617,442

561.010

56,432

617,025

561.010

56,015

11,851

10,921

930

159

159

10,614

10,445

169

4,339

4,190

149

5,804

5,420

384

1,980

1,388

592

834

834

5.817

5.817

15,472

13,935

1,537

1,231,638

1.168.592

63,046

1,229,804

1.168.592

61,212

20,496

20,123

373

16,765

16,343

422

24.096

24.096

16,611

15,911

700

3,329

2,043

1,286

3.900

3.900

335

335

13,000

11,761

1,239

22,575

21,526

1,049

1,078,853

1.043.287

35,566

1,077,545

1.043.287

34,258

12,718

12,194

524

1.203

1.203

13.972

13.972

24.761

24.761

8,017

7,452

565

6.791

6.791

2.890

2.890

8.383

8.383

13,862’

13,862

904,789

872,730

32,059

902,046

871,847

30,199

8.785

8.785

2.772

2.772

5.449

5.449

18.039

18.039

7.239

7.239

8,123

7,230

893

2.443

2.443

918

918

10.687

10.687

' 7,687'

6,810

877

2,617,212

2,547,175

70,037

2,607,861

2,544,713

63,148

22.905

22.905

21.896

21.896

45,025

43,947

1,078

24.902

24.902

37,207

29,440

7,767

11.169

11.169

2.674

2.674

30,911

29,467

1,444

34.805

34.805

3,807,187

3.723.885

83,302

3,790,569

3.723.885

66,684

36.892

36.892

20,282

20,282

12.577

12.577

103,377

99,438

3,939

25.391

25.391

93,033

90,922

2,111

11.173

11.173

13.894

13.894

39.300

39.300

30.672

30.672

9,741,647

9.254.802

486,845

9,656,443

9.254.802

401,641

75.758

75.758

38.256

38.256

80.330

80.330

’296,195

280,231

15,964

151.144

151.144

297,510

241,165

56,345

88.372

88.372

194.800

194.800

138.800

138.800

72.292

72.292

24.289.870

23.731.664

558.206

24.289.870

23.731.664

558.206

50.666

50.666

3.026.502

3.026.502

56.067

56.067

63.702

63.702

88.411

88.411

186.124

186.124

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho........................................................

In su r ed b a n k s .............................

N o n in su red b a n k s ....................

Illinois......................................................

In su red b a n k s .............................

N o n in su red b a n k s ....................

Indiana....................................................

In su r ed b a n k s .............................

N o n in su red b a n k s ....................

Iow a..........................................................

In su r ed b a n k s .............................

N o n in su red b a n k s ....................

K ansas.....................................................

In su red b a n k s .............................

N o n in su red b a n k s ....................

K entucky...............................................

In su r ed b a n k s .............................

N o n in su red b a n k s ....................

Louisiana................................................

In su r ed b a n k s ..............................

N o n in su red b a n k s ....................

M ain e.......................................................

In su r ed b a n k s ..............................

N o n in su red b a n k s ....................

M arylan d...............................................

In su r ed b a n k s .............................

N o n in su red b a n k s ....................

M assachusetts......................................

In su r ed b a n k s .............................

N o n in su red b a n k s ....................

M ichigan.................................................

In su r ed b a n k s ..............................

N o n in su red b a n k s ....................

M innesota..............................................

In su red b a n k s .............................

N o n in su red b a n k s ....................

M ississippi.............................................

In su red b a n k s ..............................

N on in su red b a n k s ....................

M issouri..................................................

In su red b a n k s ..............................

N on in su red b a n k s ....................

M ontan a.................................................

In su r ed b a n k s .............................

N o n in su red b a n k s ....................

Nebraska................................................

In su red b a n k s ..............................

N on in su red b a n k s ....................

77,076

70,590

6.486

3,469,248

3,460,557

8,691

664,311

651,949

12,362

532,605

502,457

30.148

380,716

325,790

54,926

390,174

378,603

11,571

359,517

359,108

409

186,001

171,885

14,116

521,968

484,080

37,888

1.777.720

1,729,441

48,279

1,151,974

1,110,660

41,314

804,114

794,628

9.486

158,252

154,932

3,320

1.286.720

1,279,327

7,393

130,930

130,804

126

315,523

304,361

11,162

206

206

3,279

2,969

310

2,333

1,618

715

1,865

991

874

9,098

3,225

5,873

5,078

3,909

1,169

54 3

504

39

565

569

1,884

1,626

258

5,758

4,819

939

1,586

1,495

91

8,494

7,097

1,397

588

588

4,079

2,599

1,480

2.339

2.339

39,822

38,969

853

26,700

23,901

2,799

35,819

29,830

5,989

44,180

26,342

17,838

19,978

18,345

1,633

6,210

6,210

1,098

635

463

6.515

6.515

675

675

20,849

20,012

837

34,718

32,840

1,878

8,403

7,934

469

38,348

35,693

2,655

5,212

5,086

126

29,460

25,195

4,265

5.428

5.428

75,094

73,002

2,092

44,766

41,615

3,151

72,675

65,370

7,305

59,109

43,510

15,599

32,837

31,852

985

15,021

14,651

370

2,755

2,044

711

13.625

13.625

4.920

4.920

45,506

43,132

2,374

72,377

70,840

1,537

18,936

18,195

741

48,365

46,536

1,829

13.515

13.515

40,816

37,969

2,847

6.321

6.321

68.223

68.223

42,320

40,378

1,942

52,631

50,187

2,444

32,566

27,036

5,530

36,122

31,340

4,782

13.992

13.992

5,008

3,709

1,299

16.652

16.652

9.380

9.380

34,235

33,564

671

44,464

43,923

541

14,680

13,557

1,123

33,384

32,698

686

7.904

7.904

22.709

22.709

831

831

42.442

42.442

28.584

28.584

42,855

38,419

4,436

33,407

27,247

6,160

21,273

19,688

1,585

12.653

12.653

2.485

2.485

13.931

13.931

20.333

20.333

21,622

20,696

926

49,117

47,498

1,619

15,725

14,829

896

27,635

26,809

826

9.179

9.179

12,043

11,149

894

9,406

8,346

1,060

142,854

139,441

3,413

105,137

101,382

3,755

93,263

87,838

5,425

55,498

51,572

3,926

68,407

66,990

1,417

18.312

18.312

26,705

23,408

3,297

41,470

40,210

1,260

57,417

56,133

1,284

88,548

82,241

6,307

51,743

48,771

2,972

24.783

24.783

60.993

60.993

14.802

14.802

27,546

25,870

1,676

19,478

14,052

5,426

247,022

244,999

2,023

100.591

100.591

’ 69,141'

65,466

3,675

53.567

53.567

49.808

49.808

*21,518

21,518

53.033

53.033

44.338

44.338

191,425

187,897

3,528

99,561

90,835

8,726

71.122

71.122 ' 42,317

42,317

' 897204

89,204

33.151

33.151

22.931

22.931

33.067

33.067

434.033

434.033

*225,993

225,993

164.356

164.356

93.291

93.291

104.212

104.212

164.670

164.670

94,917

86,571

8,346

224,257

187,629

36,628

522,931

479,464

43,467

290,084

268,869

21,215

102,066

102,066 ' 31,822

31,822

262.532

262.532

46.579

46.579

155.939

155.939

2.416.479

2.416.479

87.887

87.887

52.459

52.459

106.598

106.598

160,611

160,611

970.574

970.574

549.685

549.685

372.749

372.749

717.765

717.765

cnDEPOSITS IN BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 117. DEPOSITS IN OPERATING COMMERCIAL BANKS, DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 1 9 3 5 1— Continued

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

Banks with deposits of—

banks $100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

24,900

24,704

196

196

(Deposits

1,035

in thousands

2,569

of dollars)

1,420 5,205 14,475

1,035 2,569 1,420 5,205 14,475

196

78,791

72,560

6,231

1,549,271

111 1,359

1,030

329

4,383

4,053

330

7.127

7.127

7,833

6,013

18,281

17,238

17,111 22,586

14,513 22,586

111

151

1,820

33,103

1,043

160,206

2,598

New Jersey............................................ 1,157 14,339 32,183 254,246 802,663 251,223

In su r ed banAs 1,518,540 1,157 14,339 30,938 32,195 160,206 254,246 774,236 251,223

30,731

43,697

43,195

502

13,164,570

151 1,245

3,428

908 28,427

N ew Mexico 88 1,022

1,022

4.575

4.575

3,553 6,751 6,449 17,831

/nsurccf bcinks 88 2,926

502

3,553 6,751 6,449 17,831

New Y o r k .............................................. 261 8,452 50,380 55,606 72,962 236,250 476,553 1,153,038 11,111,068

10,552,862 In su r ed ba n ks 12,486,703

677,867

375,878

372,558

3,320

73,126

71,713

1,413

7,821 49,651 55,606 72,962 234,664 459,272 1,053,865

261 631 729 1,586

54,078

17,281 99,173 558,206

North Carolina.................................... 1,344 10,857 18,131 13,588 10,347 52,458 87,911 127,164

In su r ed ba n ks ........................... 1,344 10,857 18,131 13,588 10,347 54,078 49,138 87,911 127,164

3,320

North Dakota. 4,006 17,650

3,673

333

10,950

10,298

652

14,336

13,908

428

3,561 2,564 13.541

13.541

6,518

In su r ed bcinks 3,561 2,564 17,650 6,518

N o n in su red b a n k s ....................

O hio.......................................................... 1,863,284 1,119

851

19,539 71,685 ..........65,076 ..........54,320 147,105 200,142’ 357,739 946,559’

In su r ed b a n k s ............................. 1,858,357 18,163 68,402 65,076 54,320 147,105 200,142 357,739 946,559

N o n in su red b a n k s .................... 4,927 268 1,376 3,283

O klahom a............................................... 386,223 3,294 25,366 34,931 ..........23,331 ..........10,296 ..........38,504 ..........58,42*2’ 140,197' ..........51,882*

In su r ed ba n ks . . . ............ 383,068 3,033 24,067 34,116 23,331 9,516 38,504 58,422 140,197 51,882

N o n in su red b a n k s .................... 3,155

240,866

240,806

60

4,155,111

4,107,137

47,974

288,232

225,030

63,202

261

241

1,299

3,580

815 780

Oregon..................................................... 9,216 5,551 8,466 19.686

19.686

9,411 15,087 169,628

In su r ed b a n k s .............................. 181 3,580 9,216 5,551 8,466 9,411 15,087 169,628

60

2,863

2,751

Pennsylvania........................................ 17,206 64,945 103,194 98,417 351,885 578,348 959,151 1.979.102

1.979.102 In su red b a n k s ............................. 16,519 63,200 100,767 95,144 349,816 578,348 921,490

N o n in su red b a n k s .................... 112 687 1,745 2,427 ■ 3,273 2,069 37,661

Rhode Island 22 481 1,198 6,105 ..........22,366 142,856

88,441

115, *204

In s tired bd.nks 22 481 1,198 1,330 18,354 115,204

N on in su red b a n k s .................... 4,775 4,012 54,415

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
South Carolina................

In su red b a n k s ..........

N oninsu red b a n k s.

South D akota..................

Insu red b a n k s ..........

N oninsu red ba n ks.

Tennessee...........................

In su red b a n k s ..........

N oninsu red b a n k s.

T exas...................................

In su red b a n k s ..........

N oninsu red b a n k s.

U ta h .....................................

Insured b a n k s ..........

N oninsured b a n k s.

Vermont.............................

In su red b a n k s ..........

N on in su red b a n k s.

Virginia...............................

In su red b a n k s ..........

N oninsu red b a n k s .

W ashington.......................

In su red b a n k s ..........

N oninsu red b a n k s.

W est Virginia...................

Insu red b a n k s ..........

N oninsu red b a n k s.

Wisconsin..........................

In su red b a n k s ..........

N oninsu red b a n k s.

W yom ing...........................

In su red b a n k s ..........

N on in su red b a n k s.

P ossessions— to tal

Insu red b a n k s ..........

N oninsu red b a n k s.

Alaska....................................................

In su red b a n k s.............................

N oninsu red b a n k s ....................

Hawaii....................................................

Insured b a n k s .............................

N oninsured b a n k s ....................

Puerto R ico.........................................

In su red b a n k s .............................

N oninsu red b a n k s ....................

Virgin Islands of the United States

Insured b a n k s .............................

N oninsu red b a n k s ...................

125,838

118,135

7,703

84,044

83,492

552

425,378

423,064

2,314

1,144,235

1,123,703

20,532

138.909

138.909

100.173

100.173

499,945

498,976

969

376,170

370,408

5,762

245,623

239,904

5,719

739,383

731,156

8,227

57.559

57.559

117,487

3,345

114,142

12,988

2,279

10,709

94,373

1,066

93,307

10,126

10,126

(2)

1,866

1,297

569

3.341

3.341

4,370

3,940

430

9,086

7,258

1,828

91

91

1,264

1,173

91

1,300

1,198

102

184

94

90

1,802

1,607

195

393

393

6,041

4,915

1,126

15.639

15.639

17,412

17,295

117

45,075

40,215

4,860

2.435

2.435

477

477

10,666

10,666

7,310

6,932

378

5,391

4,870

521

28,481

28,204

277

1,218

1,218

417

' 417

417

* 417

9,572

9,199

373

9.726

9.726

21.743

21.743

77,603

73,973

3,630

6.539

6.539

6.851

6.851

25,131

24,794

337

16,339

15,944

395

16,904

15,254

1,650

58,895

56,008

2,887

6.247

6.247

1.834

1.834

881

881

364

364

589

589

6,641

4,179

2,462

7,348

6,796

552

16.831

16.831

64,329

60,319

4,010

3.055

3.055

4.790

4.790

36,848

36,307

541

17,837

17,105

732

15,760

14,590

1,170

49,773

49,263

510

6.267

6.267

1,308

'i,308

717

717

591

591

4.460

4.460

1.732

1.732

13,847

12,080

1,767

33,902

32,183

1,719

6.320

6.320

8.865

8.865

25.601

25.601

6.777

6.777

15.562

15.562

51,892

51,072

820

2.401

2.401

2.743

883

1,860

2.743

883

1,860

15,924

14,847

1,077

14.734

14.734

35.206

35.206

80,255

78,901

1,354

6.813

6.813

33.012

33.012

63.877

63.877

30,429

26,274

4,155

47.842

47.842

96,720

95,712

1,008

10.859

10.859

9,351

2,462

6,889

5,764

1,396

4,368

2,497

1,066

1,431

1,090

1,090

28,123

26,027

2,096

16.558

16.558

16.993

16.993

123,337

120,206

3,131

4.288

4.288

34.432

34.432

73.627

73.627

30.457

30.457

65,691’

63,403

2,288

85,876

83,346

2,530

18,028

18,028

16,618

i 6,618

2,466

2,466

5,705

5,705

8,447

8,447

53.211

53.211

14.966

14.966

247.638

247.638

551,362’

551,362

109.368

109.368

11.746

11.746

195.330

195.330

89.994

89.994

78.289

78.289

188.135

188.135

12.146

12.146

85,204

'85,204

85,204

'85,204

51.338

51.338

159.286

159.286

67.601

67.601

175.727

175.727

177.809

177.809

cn

<X>

1 Deposits of noninsured banks as of December 31, 1935. 2 Deposits not available.

DEPOSITS IN BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T able 118. DEPOSITS IN OPERATING COMMERCIAL BANKS, DAILY AVERAGE OCTOBER 1 TO DECEMBER 31, 1 9 3 5 1

UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

U nited States and P o ssessio n st o t a l............................................

Unit b a n k s ......................................

Banks operating branches . . .

S ta te s— t o t a l......................................

Unit b a n k s ......................................

Banks operating branches . . .

Alabam a.............................................

Unit b a n k s ..................................

Banks operating branches .

Arizona................................................

Unit b a n k s .................................

Banks operating branches .

Arkansas.............................................

Unit b a n k s..................................

Banks operating branches .

California...........................................

Unit b a n k s..................................

Banks operating branches .

Colorado.............................................

Unit b a n k s ..................................

Banks operating bra n ch es.

Connecticut.......................................

Unit b a n k s..................................

Banks operating b ra n ch es.

Delaware............................................

Unit b a n k s. ...............................

Banks operating b ra n ch e s .

District of Columbia.....................

Unit b a n k s .................................

Banks operating b ra n ch e s.

Florida.................................................

Unit b a n k s ..................................

Banks operating b ra n ch e s.

Georgia................................................

Unit b a n k s ..................................

Banks operating bra n ch e s .

All

banks

Banks with deposits of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000 $750,000 $1,000,000

to to to

750,000 1,000,000 2,000,000

$ 2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

44,383,250

21,525,666

22,857,584

44,265,763

21,506,724

22,759,039

241,562

188,523

53,039

62,672

21,470

41,202

164,944

161,551

3,393

3,542,533

571,034

2,971,499

296.371

296.371

511,770

367,225

144,545

121,207

35,730

85,477

301,032

77,757

223,275

248.119

248.119

387,498

151,028

236,470

(Deposits in thousands of dollars)

94,612

94,505

107

617,442

604,938

12,504

1,231,638

1,193,333

38,305

1,078,853

1,030,478

48,375

904,789

863,046

41,743

2,617,212

2,488,187

129,025

3,807,187

3,426,783

380,404

9,741,647

5,923,300

3,818,347

24,289,870

5,901,096

18,388,774

94,600

94,493

107

617,025

604,521

12,504

1,229,804

1,191,795

38,009

1,077,545

1,029,170

48,375

902,046

860,303

41,743

2,607,861

2,481,370

126,491

3,790,569

3,420,676

369,893

9,656,443

5,923,300

3,733,143

24,289,870

5,901,096

18,388,774

1.491

1.491

11.851

11.851

20,496

20,192

304

12.718

12.718

8.785

8.785

22.905

22.905

36,892

34,823

2,069

75.758

75.758

50,666

50,666

159 1.203

1.203

2,772 20,282 38,256

159 2,772 10,647 6,689

9,635 31,567

3.341

3.341

10,614

10,416

198

4.339

4.339

16,765

16,342

423

24,096

23,375

721

13,972

12,173

1,799

24,761

22,858

1,903

5,449

4,476

973

21.896

21.896

12.577

12.577

80.330

80.330

199

199

18,039

15,288

2,751

45,025

37,525

7,500

103,377

86,723

16,654

296,195

134,726

161,469

3,026,502

246,001

2,780,501

1.196

1.196

5.804

5.804

16,611

16,611

8.017

8.017

7.239

7.239

24.902

24.902

25.391

25.391

151.144

151.144

56.067

56.067

95

95

1.980

1.980

3.329

3.329

6.791

6.791

8.123

8.123

37.207

37.207

93.033

93.033

297,510

216,667

80,843

63,702

63,702

426

426

834

834

3.900

3.900

2.890

2.890

2.443

2.443

11.169

11.169

11,173

6,480

4,693

88,372

7,588

80,784

335 918 2,674 13,894 194,800 88,411

335 918 2,674 7,465 66,365

6,429 128,435 .........88,411

1,221

1,221

5.817

5.817

13.000

13.000

8.383

8.383

10.687

10.687

30.911

30.911

39.300

39.300

138.800

138.800

4.009

4.009

15,472

15,234

238

22,575

21,791

784

13.862

13.862

7.687

7.687

34,805

33,490

1,315

30,672

27,640

3,032

72,292

27,315

44,977

186,124

186,124

160 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho.....................................................

Unit b a n k s ..................................

Banks opera tin g b r a n c h e s.

Illinois....................................................

U nit b a n k s ...................................

B anks o pera tin g bra nches .

Indiana.................................................

U nit b a n k s ...................................

Banks opera tin g b r a n c h e s.

Iow a.......................................................

Unit b a n k s ...................................

Banks operating b r a n c h e s.

K ansas..................................................

U nit b a n k s ...................................

B anks operating b ra n c h e s.

K entucky.............................................

Unit b a n k s ...................................

Banks operating b r a n c h e s.

Louisiana.............................................

Unit b a n k s ...................................

Banks operating b r a n c h e s.

M aine....................................................

Unit b a n k s ..................................

Banks operatin g bra nches .

M aryland.............................................

Unit b a n k s ..................................

Banks operatin g bra nches .

Massachusetts...................................

Unit b a n k s ..................................

Banks opera tin g bra nches .

M ichigan..............................................

U nit b a n k s ..................................

Banks operatin g bra nches .

M innesota...........................................

Unit b a n k s ...................................

Banks operatin g bra nches .

Mississippi...........................................

U nit b a n k s ..................................

Banks operatin g b r a n c h e s.

M issouri...............................................

Unit b a n k s ..................................

Banks operatin g bra n ch es .

M ontana...............................................

U nit b a n k s ...................................

Banks operating b r a n c h e s.

Nebraska..............................................

Unit b a n k s ..................................

Banks opera tin g b r a n c h e s.

77,076

37,870

39,206

3.469.248

3.469.248

664,311

508,571

155,740

532,605

462,189

70,416

380.716

380.716

390,174

258,145

132,029

359,517

127,789

231,728

186,001

113,646

72,355

521,968

214,279

307,689

1.777.720

560,574

1,217,146

1,151,974

364,746

787,228

804,114

561,564

242,550

158,252

137,463

20,789

1.286.720

1.286.720

130.930

130.930

315,523

302,445

13,078

206

206

3.279

3.279

2.333

2.333

1.865

1.865

9.098

9.098

5.078

5.078

543

543

569

569

1.884

1.884

5.758

5.758

1.586

1.586

8.494

8.494

588

588

4.079

4.079

2.339

2.339

39.822

39.822

26,700

25,805

895

35,819

31,478

4,341

44.180

44.180

19,978

19,412

566

6,210

6,015

195

1,098

857

241

6,515

6,101

414

675

675

20,849

20,636

213

34.718

34.718

8,403

7,844

559

38.348

38.348

5.212

5.212

29.460

29.460

5.428

5.428

75.094

75.094

44,766

42,901

1,865

72,675

61,444

11,231

59.109

59.109

32,837

31,629

1,208

15,021

12,852

2,169

2.755

2.755

13,625

13,150

475

4.920

4.920

45,506

44,917

589

72.377

72.377

18,936

15,824

3,112

48.365

48.365

13.515

13.515

40.816

40.816

6,321

5,689

632

68.223

68.223

42,320

38,823

3,497

52,631

47,160

5,471

32.566

32.566

36.122

36.122

13,992

10,914

3,078

5,008

3,812

1,196

16,652

14,808

1,844

9.380

9.380

34,235

33,055

1,180

44.464

44.464

14.680

14.680

33.384

33.384

7.904

7.904

22.709

22.709

831

831

42.442

42.442

28.584

28.584

42,855

33,471

9,384

33.407

33.407

21,273

20,357

916

12,653

10,289

2,364

2.485

2.485

13,931

12,300

1,631

20.333

20.333

21,622

20,771

851

49.117

49.117

15,725

14,780

945

27.635

27.635

9.179

9.179

12.043

12.043

9.406

9.406

142.854

142.854

105,137

96,474

8,663

93,263

70,015

23,248

55.498

55.498

68,407

67,289

1,118

18,312

11,357

6,955

26,705

23,843

2,862

41,470

33,360

8,110

57,417

53,213

4,204

88,548

82,650

5,898

51.743

51.743

24,783

17,136

7,647

60.993

60.993

14.802

14.802

27.546

27.546

19,478

13,971

5,507

247.022

247.022

100,591

91,189

9,402

69,141

52,400

16,741

53.567

53.567

49.808

49.808

21,518

13,145

8,373

53,033

26,466

26,567

44,338

34,405

9,933

191,425

149,251

42,174

99,561

78,965

20,596

71.122

71.122

42,317

39,444

2,873

89.204

89.204

33.151

33.151

22,931

20,387

2,544

33,067

33,067

434.033

434.033

225,993

94,575

131,418

164.356

164.356

93.291

93.291

104,212

28,450

75,762

164.670

62,674

101,996

94,917

53,428

41,489

224,257

99,586

124.671

522,931

233,703

289,228

290,084

81,868

208,216

102,066

102,066

31,822

26,169

5,653

262.532

262.532

46.579

46.579

155,939

145,405

10,534

2.416.479

2.416.479

87.887

87.887

52,459

’ '52,459

106.598

106.598

160,611

160,611

970,574

89,034

881,540

549,685

'549,685

372,749

130,199

242,550

717.765

717.765

DEPOSITS IN BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 118. D e p o sits in O p era tin g Com m ercial B anks, D a ily A v e ra g e O c to b er 1 to D ecem ber 31, 19351— Continued

UNIT BANKS AND BANKS OPERATING BRANCHES GROUPED B Y AMOUNT OF DEPOSITS IN EACH STATE AND POSSESSION

All

banks

Banks with deposits of—

$100,000

and

under

$100,000 $250,000 $500,000 $750,000 $1,000,000 I $2,000,000 $5,000,000

to to to to to to to

250,000 500,000 750,000 1,000,000 2,000,000 | 5,000,000 50,000,000

Over

$50,000,000

N evad a..................................................

U nit b a n k s ...................................

Banks operatin g b r a n c h e s .

New Ham pshire...............................

U nit b a n k s ...................................

Banks operatin g b r a n c h e s .

New Jersey.........................................

Unit b a n k s ...................................

Banks operating b r a n c h e s .

New M exico.......................................

U nit b a n k s ...................................

B a nks operating b r a n c h e s .

New Y o rk ............................................

U nit b a n k s ..................................

B anks operatin g b r a n c h e s .

North Carolina.................................

U nit b a n k s. ................................

Banks operatin g b r a n c h e s .

North D ak ota...................................

U nit b a n k s ...................................

B a nks opera tin g b r a n c h e s .

O hio........................................................

U nit b a n k s ...................................

B a nks opera tin g b r a n c h e s .

Oklahom a............................................

U nit b a n k s ...................................

B a nks operatin g b r a n c h e s .

Oregon...................................................

U nit b a n k s ..................................

B a nks operatin g b r a n c h e s .

Pennsylvania......................................

U nit b a n k s ...................................

B a n ks op era tin g b r a n c h e s .

Rhode Island.....................................

U nit b a n k s ...................................

B a nks opera tin g b r a n c h e s .

24,900

9,005

15,895

78,791

78,229

562

1,549,271

741,116

808,155

43,697

40,956

2,741

13,164,570

2,583,915

10,580,655

375,878

204,315

171,563

73.126

73.126

' i ,863 ,284

842,480

1,020,804

386.223

386.223

240,866

70,126

170,740

4,155,111

2,469,478

1,685,633

288,232

82,028

206,204

111

111

151

151

261

261

1,344

1,237

107

4.006

4.006

1.119

1.119

3.294

3.294

241

241

2.863

2.863

22

22

196

196

1.359

1.359

1.157

1.157

1,022 1,022

8.452

8.452

10,857

10,244

613

10.950

10.950

19.539

19.539

25.366

25.366

3.580

3.580

17,206

17,064

142

(Deposits in thousands of dollars)

1.035

1.035

4.383

4.383

14.339

14.339

4,575

4,193

382

50,380

49,880

500

18,131

15,548

2,583

14.336

14.336

71,685

70,483 1,202

34.931

34.931

9.216

9.216

64,945

64,640

305

481

481

7,127

6,565

562

32.183

32.183

3,428

2,330

1,098

55,606

55,040

566

13,588

8,969

4,619

3.561

3.561

65,076

63,171

1,905

23.331

23.331

5.551

5.551

103,194

102,585

609

1.198

1.198

2.569

2.569

7.833

7.833

33.103

33.103

3.553

3.553

72,962

72,067

895

10,347

8,775

1,572

2.564

2.564

'54,320

52,637

1,683

10.296

10.296

8.466

8.466

98,417

97,664

753

1,420

1,420

18,281

18,281

160,206

155,114

5,092

6,751

5,490

1,261

236,250

230,083

6,167

54,078

47,518

6,560

13.541

13.541

147,105

145,225

1,880

38.504

38.504

19,686

18,574 1,112

351,885

349,722

2,163

6,105

2,395

3,710

5.205

5.205

17.111

17.111

254,246

209,465

44,781

6.449

6.449

476,553

440,406

36,147

52,458

37,985

14,473

17.650

17.650

’200,142’

183,234

16,908

58.422

58.422

9.411

9.411

'578,348

562,098

16,250

22,366

15r,499

6,867

14,475

14,475

22.586

22.586

802,663

295,604

507,059

17.831

17.831

1,153,038

530,304

622,734

87,911

22,780

65,131

6.518

6.518

'357,739 

180.542

177.197

140.197

140.197

15.087

15.087

959,151

701,557

257,594

142,856

62,433

80,423

251,223

25 i ,223

11,111,068

1,197,422

9,913,646

127,164

51,259

75,905

946,559

126,530

820,029

51.882

51.882

169,628

169,628

1,979,102

571,285

1,407,817

115,204

115,204

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
125,838

71,608

54,230

84,044

61,787

22,257

425,378

255,660

169,718

1.144.235

1.144.235

1,866

1,866

6.041

6.041

9.572

9.572

6.641

6.641

4,460

3,550

910

1.732

1.732

15,924

14,171

1,753

14.734

14.734

28,123

23,245

4,878

16,558

9,407

7,151

16.993

16.993

123.337

123.337

53,211

6,522

46,689

14,966

B a n ks op era tin g b ra n ch es . .

3.341

3.341

15,639

15,499

140

17,412

16,678

734

45.075

45.075

9.726

9.726

7.348

7.348

B a nks op era tin g bra n ch es ..

Tennessee...............................................

14,966

247,638

139,086

108,552

551.362

551.362

4.370

4.370

21,743

21,437

306

77.603

77.603

16,831

14,431

2,400

64.329

64.329

13,847

12,979

868

33.902

33.902

35,206

29,686

5,520

80.255

80.255

51,338

U nit b a n k s .....................................

Banks operating b r a n c h e s. 51,338

159.286

159.286

9.086

Unit b a n k s ..................................... 9.086

Banks operating b ra n ch es ..

U ta h..........................................................

Unit b a n k s .....................................

138,909

87,517

51,392

100,173

82,000

18,173

499,945

287,232

212,713

376,170

143,048

233,122

245,623

243,855

1,768

739,383

455,523

283,860

57.559

57.559

91

91

2.435

2.435

6.539

6.539

3.055

3.055

6,320

5,366

954

8,865

7,169

1,696

25,601

20,521

5,080

6,777

6,011

766

15.562

15.562

6.813

6.813

4.288

4.288

109,368

58,930

50,438

11,746

5,662

6,084

195,330

80,362

114,968

89,994

39,069

50,925

78.289

78.289

B a nks op erating bra nches .

V erm ont............................................. 477

477

6,851

6,463

388

25,131

21,715

3,416

16.339

16.339

4.790

4.790

33.012

33.012

..........63,877

59,819

4,058

30.429

30.429

34,432

24,427

10,005

73,627

61,467

12,160

30,457

24,753

5,704

65.691

65.691

U nit b a n k s .....................................

Banks operating bra n ch es . .

Virginia................................................. 1.264

1.264

10,666

10,451

215

7.310

7.310

36,848

31,633

5,215

17.837

17.837

67,601

Banks op erating branches . .

W ashington......................................

67,601

1.300 175,727

Unit b a n k s ..................................... 1.300

Banks operating bra nches . .

W est Virginia.......................................

175,727

184

184

5.391

5.391

16.904

16.904

15,760

15,086

674

49,773

39,646

10,127

6.267

6.267

47,842

46,748

1,094

96,720

89,539

7,181

10.859

10.859

Unit b a n k s .....................................

Banks operating branches . .

Wisconsin...............................................

U nit b a n k s .....................................

1,802

1,802

28,481

25,681

2,800

1,218

1,218

58,895

52,849

6,046

6.247

6.247

51,892

45,141

6,751

2.401

2.401

85,876

78,529

7,347

18,028

18,028

188,135

122,336

65,799

12.146

12.146

177,809

Banks operating b ra nches . .

W yom ing................................................

177,809

393

Unit b a n k s ..................................... 393

Banks operatin g bra nches

P ossessions— t o t a l ............................. 117,487

18,942

98,545

12,988

11,520

1,468

94,373

6,039

88,334

10,126

1,383

8,743

12

12

417

417

1,834

1,538

296

881

881

1.308

1.308

2.743

2.743

9,351

6,817

2,534

5,764

4,296

1,468

2,497

1,431

1,066

1.090

1.090

16,618

6,107

10,511

2.466

2.466

85,204

Unit b a n k s ........................................

Banks op erating bra nches ....

Alaska......................................................

85,204

417

417

717

717

2.743

U nit b a n k s ..................................... 2.743

Banks operating branches . .

H aw aii..................................................... 12

12

364

364

591

591

5,705

3,641

2,064

8,447

85,204

Unit b a n k s .....................................

Banks operatin g bra n ch es . .

Puerto R ic o ...........................................

85,204

589

293

296

Unit b a n k s ...................................

Banks operatin g bra n ch es . .

Virgin Islands of the United States

Unit b a n k s .....................................

8,447

Banks op eratin g bra nches . . (2)

1 Deposits of noninsured banks as of December 31, 1935. 2 Deposits not available.

DEPOSITS IN BANKS 163

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Federal Reserve Bank of St. Louis
T a b le 119. DEPOSITS IN OPERATING MUTUAL SAVINGS BANKS, DECEMBER 31, 1935

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE

U n ited S ta te s — t o t a l.

In su r ed b a n k s ..........

N o n in su red b a n k s . .

S ta te

Connecticut.......................

In su r e d b a n k s ..........

N o n in su red b a n k s .

Delaware.............................

In su r e d b a n k s ..........

N o n in su red b a n k s.

Indiana................................

In su r e d b a n k s ..........

N o n in su red b a n k s.

M a in e...................................

In su r e d b a n k s ..........

N o n in su red b a n k s .

M arylan d............................

In su r e d b a n k s ..........

N o n in su red b a n k s .

M assachusetts..................

In su r ed b a n k s ..........

N o n in su red b a n k s .

M innesota..........................

In su r ed b a n k s ..........

N o n in su red b a n k s.

New H am pshire..............

In su r ed b a n k s ..........

N o n in su red b a n k s .

New Jersey........................

In su r ed b a n k s ..........

N o n in su red b a n k s .

New Y o r k ...........................

In su r ed b a n k s ..........

N o n in su red ba n ks .

All

banks

Banks with deposits of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

9,876,976

977,835

8,899,141

683,666

683,666

31,067

31,067

19,965

13,483

6,482

121,659

14,352

107,307

207,747 1,210

206,537

2,091,988

2,091,988

64.313

64.313

185,429

185,429

322,969

134,839

188,130

,188,945

499,051

,689,894

(Deposits in thousands of dollars)

201

104

97

97

780

780

240

248

248

168

' 168

2,711

1,647

1,064

438

’ 438

462

462

324

324

918

918

7,397

1,324

6,073

1,277

7,277'

679

679

748

748

1,197

i ,197

2,358

'2,358

16,947

3,424

13,523

4,282

2,623

1,659

840

840

6.009

6.009

4.199

4.199

816

’ 816

101,157

14,128

87,029

18,780

750

3.392

3.392

11,680

11,680

1,610

1,610

27.624

27.624

14,432

14,432

2,655

1,084

1,571

11,332

11,332

469,085

34,350

434,735

75.232

75.232

2.877

2.877

40,918

4,791

36,127

2,467

2,467

193,682

'i93,682

53,069

53,069

8,226

4,740

3,486

66,112

66,112

4,365,001

198,228

4,166,773

519,606

519,606

31,067

31,067

13,696

7,214

6,482

63,860

6,938

56,922

112,182

112,182

1,326,188

'1,326,188

111,047

111,047

222,435

128,097

94,338

1,686,074

1,686,074

4,913,697

724,630

4,189,067

68.333

68.333

89,190

‘ '89,190'

537,023

537,023

64.313

64.313

88,735

88,735

3,424,611

499,051

2,925 ,5 60

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
O hio.......................................

In su r e d b a n k s ..........

N o n in su red b a n k s .

Oregon ..................................

In su r ed b a n k s ..........

N o n in su red b a n k s.

Pennsylvania....................

In su r ed b a n k s ..........

N o n in su red b a n k s.

Rhode Island....................

In su r ed b a n k s ..........

N o n in su red b a n k s.

Verm ont..............................

In su r e d b a n k s ..........

N o n in su red b a n k s.

W ashington........................

In su r e d b a n k s ..........

N o n in su red b a n k s .

W isconsin............................

In su r e d b a n k s ..........

N o n in su red b a n k s.

116.553

116.553

801

801

542,401

5,375

537,026

171,053

171,053

68.493

68.493

55.501

55.501

4,426

3,864

562

104

104

124

' 124 302

267

267

576

576

562

562

801

801

1.324

1.324

1.964

1.964

4.929

4.929

1.435

1.435

3.411

3.411

4,560

4,560

14.015

14.015

2.191

2.191

2.325

2.325

6.697

6.697

120,866 '120,866

102,001

102,001

49.282

49.282

108.532

108.532

416,160

4 /5 , >50

64,066

64,066

52.734

52.734

OI DEPOSITS IN BANKS

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Federal Reserve Bank of St. Louis
Table 120. D E P O S IT S IN O P E R A T IN G M U T U A L SA V IN G S B A N K S , D E C E M B E R 31, 1935

U N IT B A N K S AN D B A N K S O PERATIN G BRAN CH ES GROUPED B Y AM O UN T OF D EPO SITS IN EACH STATE

0 505

All

banks

Banks with deposits o f—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000 1 $1,000,000

to to

1,000,000 1 2,000,000

$2,000,000 1 $5,000,000

to to

5,000,000 1 50,000,000

Over

$50,000,000

9,876,976

5,315,610

4,561,366

683,666

650,534

33,132

31,067

7,766

23,301

19.965

19.965

201

201

780

780

(De]

2.711

2.711

posits in thou

7.397

7.397

isands of doll;

16.947

16.947

ars)

101,157

94,283

6,874

18.780

18.780

469,085

443,614

25,471

75.232

75.232

4,365,001

3,212,389

1,152,612

519,606

486,474

33,132

31,067

7,766

23,301

13.696

13.696

4,913,697

1,537,288

3,376,409

68.333

68.333

S tate

Connecticut.......................................... 438

438

1.277

U nit b a n k s ...................................... 1.277

B anks operating bra n ch es . .

Delaware................................................

U nit b a n k s .....................................

B a nks op era tin g bra n ch es . .

Indiana....................................................

U nit b a n k s . . . .......... ....

3.392

3.392

2.877

2.877

B anks operating bra n ch es

M a in e....................................................... 121,659

94,910

26,749

207,747

188,002

19,745

2,091,988

1,594,112

497,876

64.313

64.313

240

240

679

679

4.282

4.282

11,680

9,995

1,682

1,610

40.918

40.918

63,860

38,793

25,067

112,182

94,047

18,135

1,326,188

1,084,882

241,306

U nit b a n k s ........................... ..

B anks operating bra n ch es ..

M aryland...............................................

Unit b a n k s .....................................

248

248

462

462

748

748

840

840

2.467

2.467

89.190

89.190

B a nks operating branc hes . .

M assachusetts.....................................

1,610

27,624

24,042

3,582

97

97

168

168

1.197

1.197

6.009

6.009

193,682

173,188

20,494

537,023

304,529

232,494

64.313

64.313

U nit b a n k s .....................................

B anks operating bra n ch es . .

M innesota..............................................

Unit b a n k s .....................................

B anks operatin g bra n ch es

New Ham pshire.................................. 185.429

185.429

324

324

2.358

2.358

4.199

4.199

14.432

14.432

53.069

53.069

111.047

U nit ba n ks ............... 111.047

B a nks operating bra n ch es

New Jersey............................................

U nit b a n k s .....................................

322,969

191,047

131,922

5,188,945

1,922,734

3,266,211

918

918

2.655

2.655

8,226

8,226

222,435

179,248

43,187

1,686,074

999,794

686,280

88,735

B a nks operating bra n ch es ..

New Y o rk ...............................................

U nit b a n k s .....................................

88,735

3,424,611

849,657

2,574,954

816

816

11.332

11.332

66,112

61,135

B a n ks operating bra n ch es . . 4,977

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
O hio...........................................

Unit b a n k s ......................

Banks o pera tin g bra n ch es .

Oregon ....................................

Uni t b a n k s ....................

B anks operating b r a n c h e s .

Pennsylvania.......................

U nit b a n k s ................ .

B anks opera tin g bra n ch es .

Rhode Island.......................

U nit b a n k s ....................

B a nks o p e ra tin g b r a n c h e s.

Verm ont...............................................

Unit b a n k s .....................

B anks opera ting bra n ch es .

W ashington............................

Unit b a n k s .......................

B anks opera tin g b ra n ch es .

W isconsin..............................

Unit b a n k s .......................

B anks opera tin g b r a n c h e s.

116.553

116.553

1.324

1.324

6.697

6.697

108.532

108.532

801

801

801

801

542,401

54,404

487,997

171,053

106,987

64,066

68,493

58,126

10,367

55.501

55.501

1.964

1.964

3.411

3.411

120,866

49,029

71,837

102,001

102,001

416,160

4i6J60

64,066

.........64,066

124

124

302

302

4.560

4.560

267

267

4.929

4.929

14.015

14.015

49,282

38,915

10,367

576

576

2.191

2.191

52.734

52.734

4.426

4.426

104

104

562

562

1.435

1.435

2.325

2.325

Oi

-qDEPOSITS IN BANKS

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Federal Reserve Bank of St. Louis
Table 121. AN A LYSIS OF CHANG ES IN DEPOSITS OF B A N K S IN THE CON TIN EN TAL U NITED STATES D U R IN G 1935i

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK

(Amounts in thousands of dollars)

05GO

D eposits, D ecem ber 31, 1935............................

D eposits, D ecem ber 31, 193 4............................

N et increase during 1935.....................................

N et Increase n o t due to changes in

banking s tr u c tu r e .........................................

N et increase due to changes in banking

stru c tu re 2............................................................

B anks begin n ing operations— total

^ Reorganization of or successions to restricted banks..................................................

Reopenings of closed banks (in receivership or liquidation).......................................

Organizations of new banks without

precedessors......................................................

B anks ceasing op erations— t o t a l.............

Suspensions............................................................

Other liquidations...............................................

All banks Commercial banks Mutual savings banks

Insured

Total Insured Noninsured Total

Total |

Members F. R.

System N ot

Members

F. R.

System

N oninsured Total Insured

Noninsured

National State

55,292,658

49,687,109

45,101,220

40,044,198

10,191,438

9,642,911

45,415,682

39,945,538

44,123,385

38,999,392

24,802,401

21,637,150

13,651,782

12,211,255

5,669,202

5,150,987

1,292,297

946,146

9,876,976

9,741,571

977,835

1,044,806

8,899,14!

8,696,765

5,605,549 5,057,022 548,527 5,470,144 5,123,993 3,165,251 1,440,527 518,215 346,151 135,405 66,971 202,376

5,581,223 5,216,376 364,847 5,445,415 5,195,036 3,081,991 1,438,381 674,664 250,379 135,808 21,340 114,468

24,326 159,354 183,680 24,729 71,043 83,260 2,146 156,449 95,772 403 88,311 87,908

44,425 40,045 4,380 43,503 39,123 6,031 1,093 31,999 4,380 922 922

24,671 24,162 509 23,749 23,240 1,434 1,093 20,713 509 922 922

7,071 6,692 379 7,071 6,692 945 5,747 379

12,683 9,191 3,492 12,683 9,191 3,652 5,539

7,468

3,742

3,726

3,492

2,891

847

20,099 15,883 4,216 18,774 15,883 8,261 154 1,325 1,325

9,852 9,005 847 9,852 9,005 5,263

10,247 6,878 3,369 8,922 6,878 2,998 i54 2,044 1,325 1,325

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
C hanges in classification— n e t .

changes

Increase— t o t a l..................................

Changes in charter jurisdiction

Other successions involving

classification.................................

Other admissions to Federal Reserve

membership.......................

Other withdrawals from Federal Reserve

membership........................................

Other admissions to insurance . . .

Banks in operation at beginning of

yea r..................................................................

Banks opened for business during

y ea r..................................................................

Other voluntary withdrawals from insurance ................................................................

Mergers, consolidations and

absorptions........................................................

D ecrease— t o t a l.....................................................

Changes in charter jurisdiction...................

Other successions involving changes in

classification.....................................................

Other withdrawals from Federal Reserve

membership......................................................

Other admissions to Federal Reserve

membership......................................................

Other voluntary withdrawals from

insurance............................................................

Other admissions to insurance.....................

Mergers, consolidations and

______absorptions........................................................

183,516

201,012

183,516

211,910412,922 323,689

30,172 27,352 2,820 30,172

960 663 297 960

50,412 50,412 50,412

1,765 1,765 1,765

24,097 24,097 24,097

21,439 21,439 21,439

2,658 2,658 2,658

208,521 208,521 119,288

96,995 96,723 272 96,995

412,922 384,528 28,394 323,689

30,172 29,596 576 30,172

960 297 663 960

1,765 1,765 1,765

50,412 50,412 50,412

208,521 208,521 119,288

24,097 24,097 24,097;

96,995 93,937 3,058 96,995!

94,283

201,012

27,352

663

50,412

1,765

24,097

21,439

2,658

96,723

295,295

29,596

297

1,765

50,412

119,288

93,937

85,490

101,000

26,208

74,792

15,510

3,964

1,207

70,373

464

350,4 1 2

19,497

69,166

19,596

1,765

11,546 47,805

180,980

29,639

680

1,765

24,097

21,439

2,658

2,434

210,619

6,036

297

50,412

119,288

34,586

94,283

122,677

2,820

119,288

272

28,394

576

(s)

24,097

3,058

89,233

89.233

89.233

89,233:

89,233 89.233

89.233

89,233

89,233

fig u r e s for deposits of noninsured banks and of State banks not members of the Federal Reserve System revised since publication of the Annual Report of the Federal

Deposit Insurance Corporation for the year ending Decem ber 31, 1934.

2D eposit figures of banks involved in changes are as of call dates nearest to dates of change, except in the case of suspended insured banks for which deposits are those at 

date of suspension.

8One trust com pany with no deposits was admitted to Federal Reserve membership during 1935.

N O T E : Italics indicate decrease.

DEPOSITS IN BANKS 169

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

ASSETS AND LIABILITIES OF OPERATING BANKS

Table 122. SU M M ARY OF A SSE T S AND L IA B IL IT IE S OF O P E R A T IN G CO M M E R C IA L

B a n k s i n t h e U n i t e d S t a t e s a n d P o s s e s s i o n s , D e c e m b e r 31, 1934,

J u n e 29, 1935, a n d D e c e m b e r 31, 1935

(Amounts in millions of dollars)

1934

December 31

1935

June 29 December 31

A ll banks

ASSETS

Loans, discounts, and overdrafts................................

United States Government obligations, direct

and fully guaranteed................................................

Other securities....................................................................

Cash and amounts due from other banks...............

Other assets...........................................................................

T o ta l a sse ts...........................................................

L IA B IL IT IE S

Total deposits.......................................................................

Borrowed m oney.................................................................

Other liabilities....................................................................

Total capital account........................................................

T o ta l liabilities and capital account. .

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

14,975

12,091

6,679

11,522

2,569

47,836

40,043

49

1,313

6,431

47,836

14,877

12,728

6,957

11,793

2,368

48,723

41,409

46

757

6,511

48,723

15,111

13,806

7,098

14,313

2,368

52,696

45,532

35

611

6,518

52,696

Insured banks

ASSETS

Loans, discounts, and overdrafts................................

United States Government obligations, direct

and fully guaranteed................................................

Other securities....................................................................

Cash and amounts due from other banks...............

Other assets...........................................................................

T o ta l a sse ts...........................................................

L IA B IL IT IE S

Total deposits.......................................................................

Borrowed m oney.................................................................

Other liabilities....................................................................

Total capital account........................................................

T o ta l liabilities and capital account. .

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

14,603

11,713

6,459

11,203

2,461

46,439

38,996

49

1,242

6,152

46,439

14,495

12,352

6,685

11,457

2,263

47,252

40,300

46

693

6,213

47,252

14,698

13,275

6,841

13,851

2,253

50,918

44,126

35

547

6,210

50,918

1 14,137 3 14,123

N oninsured ban ks4

ASSETS

Loans, discounts, and overdrafts................................

United States Government obligations, direct

and fully guaranteed................................................

Other securities....................................................................

Cash and amounts due from other banks...............

Other assets...........................................................................

T o ta l a s s e ts ..........................................................

L IA B IL IT IE S

Total deposits.......................................................................

Borrowed m oney.................................................................

Other liabilities....................................................................

Total capital account........................................................

T o ta l liabilities and capital account. .

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

372

378

220

319

108

1,397

1,047

" " n

279

1,397

382

376

272

336

105

1,471

1,109

” " 6 4

298

1,471

413

531

257

462

115

1,778

1,406

64

308

1,778

5 1,095

1 Excludes 12 insured banks not members of the Federal Reserve System from which reports were 

not received.

2 Excludes 4 insured banks not members of the Federal Reserve System from which reports were 

not received.

3 Excludes 2 insured banks not members of the Federal Reserve System from which reports were 

not received.

4 Includes private banks under State supervision.

5 Excludes noninsured banks for which figures are not available. These num bered 46 banks on 

D ecem ber 31, 1934; 38 banks on June 29, 1935; and 26 banks on Decem ber 31, 1935.

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Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF OPERATING BANKS 171

Table 123. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING M U T U A L SAVINGS

B a n k s i n t h e U n i t e d S t a t e s , D e c e m b e r 31, 1934, J u n e 29, 1935,

a n d D e c e m b e r 31, 1935

(Am ounts in millions of dollars)

December 31

1935

June 29 December 31

A ll banks

ASSETS

Loans, discounts, and overdrafts...................................

United States Government obligations, direct and

fully guaranteed...........................................................

Other securities......................................................................

Cash and amounts due from other banks.................

Other assets.............................................................................

T ota l a s s e ts ......................................................................

LIA B IL IT IE S

Total deposits.........................................................................

Borrowed m oney...................................................................

Other liabilities......................................................................

Total capital account..........................................................

Total liabilities and capital a c c o u n t .............

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

5,400 5,244 5,127

1,228 1,489 1,673

3,116 3,050 2,933

516 524 547

738 799 873

10,998 11,106 11,153

9,742 9,829 9,877

2 2 1

17 21 20

1,237 1,254 1,255

10,998 11,106 11,153

575 566 566

Insured banks

ASSETS

Loans, discounts, and overdrafts...................................

United States Government obligations, direct and

fully guaranteed...........................................................

Other securities......................................................................

Cash and amounts due from other banks.................

Other assets.............................................................................

T o ta l a sse ts.......................................................................

L IA B IL IT IE S

Total deposits.........................................................................

Borrowed m oney...................................................................

Other liabilities......................................................................

Total capital account..........................................................

T otal liabilities and capital a c c o u n t .............

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

555

160

318

60

84

1,177

1,045

2

2

128

1,177

539

182

312

69

93

1,195

1,058

2

3

132

1,195

489

179

284

68

88

1,108

978

1

3

126

1,108

56

N oninsured banks

ASSETS

Loans, discounts, and overdrafts......................................

United States Government obligations, direct and

fully guaranteed.............................................................

Other securities.........................................................................

Cash and amounts due from other banks...................

Other assets................................................................................

T ota l a s s e ts .........................................................................

L IA B IL IT IE S

Total deposits...........................................................

Borrowed m oney.....................................................

Other liabilities........................................................

Total capital account............................................

T o ta l liabilities and capital a cc o u n t.

4,845

1,068

2,798

456

654

9,821

8,697

15

1,109

9,821

4,705

1,307

2,738

455

706

9,911

8,771

18

1,122

9,911

4,638

1,494

2,649

479

785

10,045

8,899

17

1,129

10,045

Number of banks. 507 503 510

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Federal Reserve Bank of St. Louis
Table 124. ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES, JUNE 30, 1934, TO DECEMBER 31, 1935

All insured commercial banks

Insured commercial banks not members

F. R. System

1934 1935

i

1934 1935

June 30 December 31 June 29 December 31 June 30 December 31 June 29 December 31

Number of banks................................................................................. 113,896 214,137 314,175 414,123 1 7,521 2 7,695 3 7,765 4 7,736

Loans, discounts, and overdrafts (including rediscounts):

Acceptances of other banks payable in the United States. . . . 265,222 257,273 201,164 181,539 1,482 1,232 537 528

Notes, bills, acceptances, etc., payable in foreign countries.. . 20,559 31,987 17,751 29,377 357 583 459 460

Commercial paper bought in open m arket........................................ 218,727 257,223 284,725 309,903 18,723 24,782 37,621 37,954

Loans to banks and trust companies— On securities.................... 55,080 56,701 38,276 33,103 2,439 1,939 1,649 1,186

— All other........................... 110,015 107,250 89,531 72,219 9,590 6,515 7,104 6,151

Loans on securities, exclusive of loans to banks— ■

To brokers and dealers in New York.............................................. 1,116,165 876,561 993,856 1,064,772 34,538 33,193 19,224 17,897

To brokers and dealers elsewhere..................................................... 213,261 191,825 197,497 203,078 5,723 5,120 5,688 6,810

To ethers....................................................................................................... 3,713,803 3,492,460 3,294,779 3,228,460 404,945 382,900 363,681 335,917

Real estate loans, mortgages, etc.— On farm land......................... 555,885 499,251 497,475 487,505 267,405 237,455 238,946 236,290

— On other real estate.......... 2,906,282 2,836,414 2,832,874 2,835,257 838,062 824,849 814,066 802,623

Loans secured by chattel m ortgages.................................................... 5204,856 5134,433 5179,584 5192,460 204,856 134,433 179,584 192,460

Reporting bank’s own acceptances....................................................... 216,690 235,382 138,969 174,874 6,532 3,558 3,751 5,477

All other loans................................................................................................. 5,584,453 5,616,665 5,722,008 5,875,755

9,679

868,867 915,330 893,024 876,172

Overdrafts.......................................................................................................... 7,680 9,729 6,966 2,179 3,162 2,155 2,954

T o ta l loans, discou nts, and o ve rd ra fts............................. 15,188,678 14,603,154 14,495,455 14,697,981 2,665,698 2,575,051 2,567,489 2,522,879

U nited States G o vern m en t direct o b liga tion s:

B onds................................................................................................................... 5,210,244 5,069,132 4,889,004 4,369,967 371,801 410,583 431,038 464,482

Treasury notes................................................................................................. 3,046,894 4,401,740 4,476,099 5,603,462 175,996 184,556 162,194 199,996

Treasury bills and certificates................................................................. 1,450,838 1,032,187 1,104,669 1,195,007 23,495 2,228 5,414 3,431

T o ta l U nited States G overn m en t direct obligations 9,707,976 10,503,059 10,469,772 11,168,436 571,292 597,367 598,646 667,909

O bligations fu lly guaranteed by the U nited States

G overn m en t:

Reconstruction Finance Corporation................................................... 235,942 245,462 246,715 243,393 922 4,073 2,991 1,989

Federal Farm Mortgage Corporation..................................................

Home Owners’ Loan Corporation..........................................................

61,585 326,788 447,451 563,041 20,461 84,688 114,204 127,535

6295,997 637,585 1,188,051 1,300,419 663,498 131,866 206,641 209,465

T o ta l obligations fu lly guaranteed by the U. S.

G o v e rn m e n t.................................................................................... 593,524 1,209,835 1,882,217 2,106,853 84,881 220,627 323,836 338,989

172 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
O th er bon ds, stocks, and secu rities:

Obligations of—

Home Owners’ Loan Corporation guaranteed as to interest

o n ly.............................................................................................................

Federal Land banks................................................................................

Federal Intermediate Credit banks.................................................

Joint Stock Land B anks.......................................................................

States and political subdivisions.......................................................

Territorial and insular possessions of the United States.. ..

Bonds, notes, and debentures of—

Railroads......................................................................................................

Public utilities............................................................................................

Real estate corporations.......................................................................

Other domestic corporations...............................................................

Stock of Federal Reserve banks............................................................

Stock of other domestic corporations—

Real estate corporations.......................................................................

Banks and banking corporations......................................................

Other domestic corporations...............................................................

Foreign securities—

Obligations of foreign central governments................................

Obligations of foreign provincial, State, and municipal

governments............................................................................................

Other foreign securities..........................................................................

T o ta l other bonds, stocks, an d se cu ritie s ......................

G ash, balances w ith other banks, an d cash ite m s in process of collection:

Reserve with Federal Reserve banks..................................................

Coin and currency........................................................................................

Cash items in process of collection.......................................................

Demand balances with other banks in the United States—

In New York C ity ...................................................................................

Elsewhere in the United States.........................................................

Time balances with other banks in the United States...............

Balances with private banks and American branches of

foreign banks..............................................................................................

Balances with banks in foreign countries..........................................

T o ta l cash, balances w ith other banks, and cash

ite m s in process of c o lle c tio n ............................................

M iscellaneous a ssets:

Cash items not in process of collection..............................................

Banking house .furniture and fixtures.................................................

Other real estate owned.............................................................................

Redemption fund and due from United States Treasurer. . . .

Customers’ liability on account of acceptances..............................

Acceptances of other banks and bills sold with endorsement .

Securities borrowed.......................................................................................

Other assets......................................................................................................

T o ta l m iscellaneous a sse ts................................................

T o ta l a sse ts.......................................................................................... 43,435,788 46,439,270

j ° i < 273,466 >

33,615

2,256,316

23,256

915,267

902,784

106,673

669,851

145,990

79,050

100,087

355,994

164,300

77,363

92,573

6,196,585

3,819,410

622,749

1,093,987

1,302,378

2,232,294

126,325

(8)

145,652

.9,342,795

(8)

1,212,843

426,996

36,249

254,360

2,371

5,110

468,301

2,406,230

136,791

177,353

119,520

29,651

2,388,770

21,916

980,743

908,600

101,533

661,688

146,553

70,500

93,053

325,849

148,705

56,217

91,171

6,458,613

4,081,565

792,674

1,944,295

1,480,875

2,559,545

152,784

(8)

190,363

11,202,101

(8)

1,212,438

465,313

33,956

243,093

1,932

3,641

502,135

2,462,508

10,498

205,925

134,422

29,268

2,558,536

21,507

1,025,574

975,497

97,597

681,882

146,382

71,682

93,305

336,813

132,884

73,822

88,904

6,684,498

4,933,277

705,488

1,219,335

1,612,871

2,759,445

150,266

(8)

76,225

11,456,907

(8) 1,209,933

507,573

11,842

158,934

6,194

2,306

365,983

2,262,770

47,251,619

224,116

98,702

40,728

2,633,631

24,326

1,017,472

1,090,295

97,632

704,350

130,317

62,384

88,856

334,825

143,878

72,600

76,987

6,841,099

5,573,212

869,626

2,304,017

1,817,424

3,033,305

160,645

38,008

54,889

13,851,126

17,698

1,196,266

550,723

180,495

11,671

1,489

293,726

2,252,068

50,917,563

j ° i 34,812

7,173

424,258

4,527

179,659

191,183

28,894

131,004

16,072

27,960

87,142

23,804

15,870

17,695

1,190,053

150,106

37,208

185,723

682,672

32,316

<8)

4,972

1,092,997

(8)

215,026

140,648

1,444

451

2,586

85,901

446,056

6,050,977

25,643

41,338

2,231

10,762

441,135

4,815

187,760

193,797

26,794

126,603

14,992

25,985

77,655

20,936

13,635

17,257

1,231,338

184,072

40,988

199,984

804,602

39,645

<8)

5,848

1,275,139

<8)

211,351

151,757

1,142

171

1,745

96,391

462,557

6,362,079

3,109

43,456

1,055

10,000

457,024

4,708

200,516

210,820

26,066

132,160

15,794

25,519

77,601

19,568

14,558

15,399

1,257,353

168,478

35,962

233,015

853,898

39,566

<8)

4,981

1,335,900

(8)

211,293

168,487

1,183

152

1,388

61,248

443,751

6,526,975

48,955

873

19,072

474,534

5,908

195,635

234,648

23,307

140,318

13,864

22,875

70,171

21,843

15,546

12,169

1,299,718

204,848

49,262

256,956

972,764

42,534

1,249

4,101

1,531,714

1,726

204,582

183,744

1,424

534

698

41,611

434,319

6,795,528 COASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
Table 124. ASSETS AND LIABILITIES OF OPERATING INSURED COMMERCIAL BANKS, CALL DATES, JUNE 30, 1934, TO DECEMBER 31, 1935

— Continued

All insured commercial banks Insured commercial banks not members

F. R. System

1934 1935 1934 1935

June 30 | December 31 June 29 December 31 June 30 | December 31 June 29 | December31

L IA B IL IT IE S

D em an d deposits (exclusive of in terba n k d e p o s its ):............

Deposits of individuals, partnerships, and corporations.............

United States Government deposits.....................................................

Public funds of States and political subdivisions...........................

Cash letters of credit, certified, officers’ and travelers*

checks outstanding and amounts due to Federal Reserve

banks...............................................................................................................

T o ta l dem a nd d e p o sits.................................................................

14,881,070

1,708,141

2,023,548

400,287

19,013,046

16,717,180

1,686,555

2,265,552

862,934

21,532,221

18,029,625

804,567

2,586,882

445,727

21,866,801

(In thousam

20,074,063

881,308

2,674,238

921,170

24,550,779

ds of dollars)

1,532,346

50,348

425,678

28,621

2,036,993

1,766,011

51,039

466,117

24,679

2,307,846

1,823,382

25,851

496,274

29,116

2,374,623

2,038,981

37,267

534,774

39,464

2,650,486

T im e deposits (exclusive of interb a n k d e p o s its ):....................

Deposits of indivuals, partnerships, and corporations— ............

Deposits evidenced by savings pass books...................................

Certificates of deposit..............................................................................

Christmas savings and similar accounts........................................

Open accounts.............................................................................................

Postal savings..................................................................................................

Public funds of States and political subdivisions..........................

T o ta l tim e d e p o sits.........................................................................

9,163,890

1,459,611

79,656

617,041

661,327

384,032

12,365,557

9,708,911

1,363,516

25,549

556,316

524,404

335,070

12,513,766

10,236,013

1,355,785

85,102

577,171

372,479

325,624

12,952,174

10,575,116

1,299,133

30,874

590,436

279,928

405,187

13,180,674

1,995,651

514,433

20,207

26,669

76,300

51,358

2,684,618

2.109.883

481,538

6,202

36,227

72,416

40,618

2.746.884

2,250,367

487,005

20,369

34,564

65,876

40,548

2,898,729

2,281,256

483,232

9,371

42,064

62,364

43,841

2,922,128

In terb an k d e p o s its :.......................................................................................

Deposits of banks in the United States..............................................

Deposits of banks in foreign countries................................................

T o ta l in terb a n k d e p o sits ............................................................

4,270,506

164,485

4,434,991

4,794,507

155,846

4,950,353

5,201,586

279,638

5,481,224

5,941,190

452,978

6,394,168

78,109

1,507

79,616

91,691

1,514

93,205

87,410

1,310

88,720

94,620

4,204

98,824

T o ta l d e p o sits......................................................................................

Secured by pledge of loans and securities.........................................

N ot secured by pledge of loans and securities................................

35,813,594

4,202,769

31,610,825

38,996,340

4,084,550

34,911,790

40,300,199

3,445,769

36,854,430

44,125,621

3,492,359

40,633,252

4,801,227

378,632

4,422,595

5,147,935

390,527

4,757,408

5,362,072

362,174

4,999,898

5,671,438

391,638

5,279,800

C ircu latin g no te s o u ts ta n d in g .............................................................. 694,790 650,935 222,045

M iscella n eou s lia b ilitie s :...........................................................................

Agreements to repurchase securities sold..........................................

Bills payable.....................................................................................................

Rediscounts.......................................................................................................

Securities borrowed.......................................................................................

Acceptances executed by other banks for account of reporting

banks...............................................................................................................

6,275

68,463

4,112

5,110

11,670

6,942

40,504

1,322

3,641

9,360

8,650

35,925

1,724

2,306

14,773

8,474

25,497

1,048

1,489

25,014

961

36,711

1,024

2,586

318

601

28,383

656

1,745

384

1,241

28,072

710

1,388

423

366

20,303

151

698

647

174 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Mortgage bonds and participation certificates outstanding. .

Acceptances of other banks and bills sold with endorsement

Acceptances executed for customers..................................................

Interest, taxes, and other expenses accrued and unpaid. . . .

Dividends declared but not yet payable.........................................

Other liabilities.............................................................................................

T o ta l m iscella neou s lia b ilitie s............................

T o ta l lia bilities, excluding capital acc o u n t.

C apital a c c o u n t :....................................................................................

Capital stock and capital notes and debentures..................

Surplus.......................................................................................................

Undivided profits— n e t......................................................................

Reserve for contingencies and undeclared dividends...........

Retirement fund for preferred stock or capital notes and .

debentures...........................................................................................

T o ta l cap ital a c c o u n t ...................................................

T o ta l lia bilities, in clu d in g cap ital a cc o u n t.

M E M O R A N D U M *

Loans and securities pledged to secure lia bilities:. . ..

United States Government obligations, direct and fully.

guaranteed..........................................................................................

Other bonds, stocks, and securities............................................

Loans and discounts.........................................................................

T o t a l.

P le d g e d :........................................................................................................

Against circulating notes outstanding.......................................

Against United States Government and postal savings

deposits.................................................................................................

Against public funds of States and political subdivisions.

Against deposits of trust departm ent........................................

Against other deposits.......................................................................

Against borrowings..............................................................................

W ith State authorities to qualify for the exercise of

fiduciary powers...............................................................................

For other purposes..............................................................................

720,933

2,542,109

1,513,427

369,540

272,478

154,651

141,268

88,638

T o ta l....................................................................................................... . 5,803,044

61,387

2,371

267,542

79,376

(8)

176,771

683,077

37,191,461

3,319,216

1,962,163

470,668

491,126

1,154

6,244,327

43,435,788

3,922,453

1,576,461

304,130

5,803,044

Excludes 43 insured com m ercial banks not members of the .Federal Reserve System for which figures were not available. 

Excludes 12 insured com m ercial banks not members of the Federal Reserve System for which figures were not available. 

Excludes 4 insured com m ercial banks not members of the Federal Reserve System for which figures were not avaliable.

4 Excludes 2 insured com m ercial banks not members of the Federal Reserve System for which ngures were not available.

b For insured banks members of the Federal Reserve System amounts are included with “ All other loans” .

Includes H om e Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.

7 See note 6.

8 N ot reported separately.

43,943

1,932

254,312

70,641

42,287

165,544

35,304

6,194

160,886

77,859

37,897

134,655

31,347

11,671

173,704

76,166

43,598

183,509

12,450

451

896

8,617

(8)

46,333

8,678

171

521

7,263

1,975

66,695

7,729

152

667

7,970

1,621

15,354

6,905

534

500

7,559

2,579

18,595

640,428 516,173 581,517 110,347 117,072 65,327 58,837

40,287,703 41,038,417 44,707,138 4,911,574 5,265,007 5,427,399 5,730,275

3,348,841

1,914,833

470,017

414,087

3,365,309

1,892,655

529,451

420,661

3,300,196

1,946,020

548,084

407,369

667,034

271,603

83,440

116,869

684,755

253,177

79,004

78,869

681,990

245,631

93,085

77,133

666,456

235,421

89,792

70,994

3,789 5,126 8,756 457 1,267 1,737 2,590

6,151,567 6,213,202 6,210,425 1,139,403 1,097,072 1,099,576 1,065,253

46,439,270 47,251,619 50,917,563 6,050,977 6,362,079 6,526,975 6,795,528

4,048,426

1,280,944

219,592

3,101,588

1,142,496

200,124

2,994,476

1,062,353

118,296

182,483

262,412

108,330

209,650

234,028

72,685

225,203

199,410

57,378

244,182

191,282

46,728

5,548,962 4,444,208 4,175,125 553,225 516,363 481,991 482,192

680,163 225,394

2,347,240

1,538,341

440,931

238,461

78,709

1,355,372

1,656,917

706,527

215,606

47,025

1,275,647

1,795,650

600,334

232,885

34,869

137,591

247,760

20,287

30,557

91,078

128,553

256,898

23,061

26,376

51,798

102,603

263,864

26,283

27,799

33,719

106,137

276,007

26,937

20,100

24,886

149,323

75,794

165,347

72,020

164,162

71,578

17,073

8,879

18,863

10,814

19,559

8,164

19,487

8,638

5,548,962 4,444,208 4,1 7 5 ,1 2 5 553,225 516,363 481,991 482.192

-3

Ol ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 125. A S S E T S AN D L IA B IL IT IE S OF O P E R A T IN G IN SU R E D CO M M ER CIAL B A N K S NOT M E M B E R S OF TH E F E D E R A L R E S E R V E SY STE M ,

D e c e m b e r 31, 1935

BA N K S GROUPED B Y AM O UN T OF DEPOSITS

All

banks

! Banks with deposits of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

| $1,000,000

to

| 2,000,000

$2,000,000! $5,000,000

to i to

5,000,000 ! 50,000,000

I| Over

$50,000,000

Number of banks.................................................... *7,723 936 2,483 1,961 779 I 445 ! 671 321 ; 123 4

ASSETS (In thousands of dollars)

N otes, bills, acceptances of other banks, and com38,242 256 2,496 5,816 3,597 3,052 7,971 7,632 7,422

Loans to banks and trust companies-On securities . 1,186 4 39 65 4 14 107 164 789

— All other . . . 6,151 73 474 766 430 263 613 951 2,581

Loans on securities, exclusive of loans to banks:

T o brokers and dealers in New Y o r k ..................... 17,897 14 163 398 190 231 848 2,723 8,658 4,672

To brokers and dealers elsewhere............................. 6,808 2 31 173 208 56 837 1,952 3,528 21

To others............................................................................... 329,257 564 4,947 13,886 15,344 15,826 56,650 66,741 137,270 18,029

Real estate loans, mortgages, etc.-O n farm land. . 236,213 5,948 35,061 53,502 33,512 25,071 39,245 26,714 15,057 2,103

— On other real estate 789,249 3,096 24,309 49,112 44,346 40,476 127,136 151,654 234,532 114,588

Loans secured by chattel m ortgages............................ 192,460 12,824 50,505 50,977 22,401 13,269 20,678 7,872 13,933 1

Reporting banks’ own acceptances................................ 5,477 277 988 705 1,038 37 203 57 2,172

All other loans......................................................................... 868,560 16,873 91,095 136,127 90,796 62,703 154,005 136,805 169,709 10,447

Overdrafts.................................................................................. 2,952 66 374 438 329 223 287 1,043 188 4

T o ta l loan s, discou nts, and overdrafts. 2,494,452 39,997 210,482 311,965 212,195 161,221 408,580 404,308 595,839 149,865

Obligations, direct, of the U. S. Government......... 662,322 2,908 27,525 51,886 40,424 35,184

t 93,466 120,921 201,403 88,605

Obligations fully guaranteed by the U. S. Government ......................................................................................... 335,557 3,670 26,660 45,408 30,846 23,190 53,229 54,413 78,372 19,769

Obligations of States and political subdivisions .... 474,183 5,001 34,827 62,894 42,020 36,087 82,419 64,018 99,159 47,758

Other bonds, stocks, and securities.............................. 817,020 2,828 37,537 79,259 68,510 60,461 156,792 168,736 217,882 25,015

T o ta l loans an d se c u ritie s............................. 4,783,534 54,404 337,031 551,412 393,995 316,143 794,486 812,396 1,192,655 331,012

Customers’ liability on account of acceptances . . . 1,424 1 60 118 36 30 40 305 832 2

Banking house, furniture and fixtures......................... 200,097 3,553 15,241 21,309 14,770 12,020 34,166 35,190 54,790 9,058

Other real estate ow ned...................................................... 180,552 2,698 9,838 15,223 11,158 9,650 26,926 30,834 62,954 11,271

Coin and currency.................................................................. 202,667 3,398 16,986 25,066 16,851 13,578 33,631 33,390 45,935 13,832

Balances with other banks................................................. 1,266,079 24,305 137,380 200,646 120,196 95,487 203,162 186,034 260,419 38,450

Cash items in process of collection................................ 46,887 166 1,255 2,385 2,107 1,958 7,854 8,466 21,454 1,242

Cash items not in process of collection....................... 1,725 32 119 306 137 152 228 313 433 5

Acceptances of other banks and bills sold with endorsement . . . . . . . . . . 534 28 35 471

Securities borrowed 698 28 192 71 113 12 202 80

Other assets............................................................................... 41,432 388 1,761 2,299 2,832 1,616 5,015 7,133 18,906 1,482

T o ta l a s s e ts .............................................................. 6,725,629 88,973 519,863 818,835 562,195 450,646 1,105,738 1,114,176 1,658,849 406,354

176 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Demand deposits of individuals, partnerships, and

corporations..........................................................................

Time deposits of individuals, partnerships, and

corporations..........................................................................

Public funds of States and political subdivisions. .

U. S. Government deposits...............................................

Postal savings deposits........................................................

Deposits of other banks......................................................

Cash letters of credit; certified, officers’ and travelers’ checks outstanding...............................................

LIABILITIES

T o ta l d e p o sits.

Mortgage bonds and participation certificates outstanding..................................................................................

Agreements to repurchase securities sold..................

Borrowed m oney.....................................................................

Securities borrowed................................................................

Liability on account of acceptances.............................

Interest, taxes and other expenses accrued and

unpaid.....................................................................................

Dividends declared but not yet payable...................

Other liabilities........................................................................

T o ta l lia b ilities, excluding cap ital

a c c o u n t.........................................................

Capital stock and capital notes and debentures...

Surplus.........................................................................................

Undivided profits— net........................................................

Reserve for contingencies and undeclared

dividends...............................................................................

Retirement fund for preferred stock or capital

notes and debentures......................................................

T o ta l lia b ilities, in clud in g capital

a c c o u n t.........................................................

2,009,949

2,789,056

578,449

37,125

62,321

98,535

39,192

5,614,627

6,905

366

20,454

698

1,681

7,357

2,543

18,505

5,673,136

658,596

232,187

88,525

70,608

2,577

6,725,629

37,175

18,601

7,872

44

279

144

262

151

13

195

28

59

46

147

65,016

18,851

3,325

1,353

383

45

88,973

210,786

148,676

54,209

474

3,785

1,483

1,767

421,180

87

475

192

13

223

254

640

423,064

71,494

14,926

7,537

2,582

260

519,863

310,341

279,724

79,834

1,346

9,219

2,621

3,745

686,830

29

60

479

71

2

465

423

1,428

689,787

90,228

22,048

10,776

5,667

329

818,835

188,531

216,939

50,761

1,333

8,052

2,910

2,777

471,303

991

783

113

12

313

253

1,386

475,154

58,948

16,208

7,752

3,884

249

562,195

141,697

188,847

40,159

765

6,426

3,709

2,671

384,274

818

12

12

297

216

517

386,508

41,823

12,377

5,601

450,646

335,340

466,242

89,294

3,646

12,192

10,111

6,472

923,297

2,105

170

2,635

202

40

927

504

2,389

111,881 S

36,136 |

14,712

10,131

609 j

301,042

509,335

81,251

4,854

6,963

15,871

8,374

927,690

437,072

676,798

157,888

21.043

15,405

51,482

12.044

1,371,732

2,602

101

4,940

80 i

301 j

1,309 |

400

2,906

456

22 i

10,129 I

103,723

38,205

14,822

16,494

603

47,965

283,894

17,181

3,620

10,204

1,080

363,944

122

1,299

3,243 ;

372 ;

7,630 [

521

75

1,462

932,269 | 940,329 _M 94,883 j 366,126

142,008 !

74,887 :

23,166

23,591 |

314 |

19,640

14,075

2,806

3,707

1,105,738 1,114,176 1,658,849 406,354

1 Excludes 2 national banks in Alaska, 1 bank in Hawaii, 11 banks in the District of Columbia, and 1 other bank.

-3ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OF DEPOSITS

T a b le 126. A v e r ag e s PER BANK OF ASSETS AND LIABILITIES, OPERATING INSURED COMMERCIAL BANKS

N ot M em b e r s of T he F ederal R eserve Syst em , D ecem ber 31, 1935

Banks "with deposits of—

banks $100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

0 )

Number of ban ks..................................................... 27,723 936 2,483 1,961 779 445 671 321 123 4

ASSETS

Notes, bills, acceptances of other banks, and

commercial paper bought in open m arket. . . $ 4,952 $ 274 $ 1,005 $ 2,966 $ 4,617 $ 6,858 $ 11,879 $ 23,776 $ 60,341

Loans to banks and trust companies—

On securities................................................................... 154 4 16 33 5 31 159 511 6,415

All other............................................................................ 796 78 191 391 552 591 914 2,963 20’984

Loans on securities, exclusive of loans to banks:

To brokers and dealers in New Y o rk................. 2,317 15 66 203 244 519 1,264 8,483 70,390 $ 1,168,000

To brokers and dealers elsewhere........................ 882 2 12 88 267 126 1,247 6,081 28,683 5,250

To others........................................................................... 42,633 603 1,992 7,081 19,697 35,564 84,426 207,916 1,116,016 4,507,250

Real estate loans, mortgages, etc.— On farm land 30,586 6,355 14,121 27,283 43,019 56,339 58,487 83,221 122,415 525,750

— On other

real estate. . . 102,195 3,307 9,790 25,044 56,927 90,958 189,472 472,442 1,906,764 28,647,000

Loans secured by chattel m ortgages....................... 24,920 13,701 20,340 25,996 28,756 29,818 30,817 24,523 113,277 250

Reporting bank’s own acceptances.......................... 709 296 398 360 1,333 83 303 177 17,659

All other loans................................................................ 112,464 18,027 36,687 69,417 116,555 140,906 229,516 426,184 1,379,747 2,611,750

Overdrafts............................................................................. 382 70 151 223 422 501 428 3,249 1,529 1,000

T o ta l loans, d iscou nts, and overdrafts. 322,990 42,732 84,769 159,085 272,394 362,294 608,912 1,259,526 4,844,220 37,466,250

Obligations, direct, of the U. S. Government. . . 85,760 3,107 11,085 26,459 51,892 79,065 139,294 376,701 1,637,423 22,151,250

Obligations fully guaranteed by the U. S.

G overnm ent..................................................................... 43,449 3,921 10,737 23,155 39,597 52,113 79,328 169,511 637,170 4,942,250

Obligations of States and political subdivisions. 61,398 5,343 14,026 32,072 53,941 81,095 122,830 199,433 806,171 11,939,500

Other bonds, stocks, and securities.......................... 105,791 3,021 15,118 40,418 87,946 135,867 233,669 525,658 1,771,398 6,253,750

T o ta l loans and se c u ritie s............................. 619,388 58,124 135,735 281,189 505,770 710,434 1,184,033 2,530,829 9,696,382 82,753,000

Customers’ liability on account of acceptances. 185 1 24 60 46 67 60 950 6,764 500

Banking house, furniture and fixtures.................... 25,909 3,796 6,138 10,867 18,960 27,011 50,918 109,626 445,447 2,264,500

Other real estate ow ned................................................. 23,379 2,883 3,962 7,763 14,323 21,685 40,128 96,056 511,821 2,817,750

Coin and currency............................................................. 26,242 3,630 6,841 12,782 21,632 30,512 50,121 104,019 373,455 3,458,000

Balances with other banks........................................... 163,936 25,967 55,328 102,318 154,295 214,578 302,775 579,545 2,117,228 9,612,500

Cash items in process of collection.......................... 6,071 177 506 1,216 2,705 4,400 11,705 26,374 174,423 310,500

Cash items not in process of collection................ 223 34 48 156 176 342 340 975 3,521 1,250

Acceptances of other banks and bills sold with

endorsement.................................................................... 69 41 109 3,829

Securities borrowed.......................................................... 90 30 78 36 145 27 301 249

Other assets.......................................................................... 5,365 415 709 1,173 3,636 3,632 7,474 22,221 153,707 370,500

T o ta l a s s e ts .............................................................. 870,857 95,057 209,369 417,560 721,688 1,012,688 1,647,896 3,470,953 13,486,577 101,588,500

178 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
L IA B IL IT IE S

Demand deposits of individuals, partnerships,

and corporations...........................................................

Time deposits of individuals, partnerships, and

corporations.....................................................................

Public funds of States and political subdivisions.

U. S. Government deposits..........................................

Postal savings deposits...................................................

Deposits of other banks.................................................

Cash letters of credit; certified, officers’ and

travelers’ checks outstanding.................................

T o ta l d e p o sits.

Mortgage bonds and participation certificates

outstanding......................................................................

Agreements to repurchase securities sold.............

Borrowed m oney................................................................

Securities borrowed..........................................................

Liability on account of acceptances........................

Interest, taxes and other expenses accrued and

unpaid.................................................................................

Dividends declared but not yet payable..............

Other liabilities...................................................................

T o ta l liabilities,

a c c o u n t ...............

exclu ding capital

Capital stock and capital notes and debentures.

Surplus....................................................................................

Undivided profits— net....................................................

Reserve for contingencies and undeclared

dividends.............................................. .............................

Retirement fund for preferred stock or capital

notes and debentures..................................................

T o ta l liabilities, in clu d in g capital

a c c o u n t..................................................................

260,255

361,136

74,899

4,807

8,07C

12,759

5,075

727,001

894

47

2,648

91

218

953

329

2,396

85,277

30,064

11,462

9,143

334

870,857

39,717

19,873

8,410

47

298

154

280

68,779

162

14

208

30

63

49

157

69,462

20,140

3,552

1,446

409

48

95,057

84,892

59,878

21,832

191

1,524

597

711

169,625

35

191

78

5

90

102

258

170,384

28,793

6,011

3,036

1,040

105

209,369

158,256

142,644

40,711

686

4,701

1,337

1,910

350,245

15

31

244

36

1

237

216

728

351,753

46,011

11,243

5,495

2,890

168

417,560

242,017

278,484

65,162

1,711

10,336

3,735

3,565

605,010

1,272

1,005

145

16

402

325

1,779

609,954

75,671

20,806

9,951

4,986

320

721,688

318,420

424,375

90,245

1,719

14,441

8,335

6,002

863,537

813

1,838

27

27

668

485

1,162

868,557

93,984

27,813

12,587

9,369

378

1,012,688

499,762

694,846

133,076

5,434

18,170

15,069

9,645

1,376,002

3,137

253

3,927

301

60

1,382

751

3,560

1,389,373

166,738

53,854

21,925

15,098

908

1,647,896

937,826

1,586,713

253,118

15,122

21,692

49,442

26,087

2,890,000

8,106

315

15,389

249

938

4,078

1,246

9,053

2,929,374

323,125

119,019

46,174

51,383

1,878

3,470,953

3,553,431

5,502,423

1,283,642

171,081

125,244

418,553

97,919

11,152,293

3,707

179

82,350

10,561

26,366

3,024

62,032

11,340,512

1,154,537

608,837

188,341

191,797

2,553

13,486,577

11,991,250

70,973,500

4,295,250

905.000

2,551,000

270.000 

90,986,000

30,500

500

130,250

18,750

365,500

91,531,500

4,910,000

3,518,750

701,500

926,750

101,588,500

1 Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.

2 Excludes 2 national banks in Alaska, 1 bank in Hawaii, 11 banks in the District of Columbia, and 1 other bank.

ASSETS AND LIABILITIES OP OPERATING BANKS 179

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OF DEPOSITS

T a b le 127. PERCENTAGE DISTRIBUTION OF ASSETS AND LIABILITIES, OPERATING INSURED COMMERCIAL BANKS

N ot M e m b ers of T he F ederal R e ser ve Sy st em , D ecem ber 31, 1935

All

banks

Banks with deposits of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50*000,000

(1)

Number of banks..................................................... 27723 936 2483 1961 779 445 671 321 123 4

ASSETS (Ratios to total assets, in percent)

Notes, bills, acceptances of other banks, and

commercial paper bought in open m arket. . . .6 1.0 .5

1 ^

.6 .7 .7 .4

Loans to banks and trust companies— .1

.1 .2 .1 .1 .1 .1 .2

Loans on securities, exclusive of loans to banks:

3 .2 . 1 .3 .5 1.2

1 .1 .2 .2

To others........................................................................... 4.9 1.1 1.0 1.7 2.8 3.5 5.1 6.0 8.3 ! 4.4

Real estate loans, mortgages, etc.-— On farm land 3.5 7.4 6.7 6.5 6.0 5.7 3.6 2.4 .9 ! .5

-—On other

real estate. . . 11.7 3.2 4.7 6.0 7.9 9.0 11.4 13.6 14.2 28.2

Loans secured by chattel m ortgages....................... 2.9 14.7 9.6 6.2 4.0 2.9 1.9 .7 .8

_ 1 .2 .1 . 1

jxeporung Dame s own acccpiauccs..........................

All other loans..................................................................... 12^9 18.9 17.7 16.5 16.2 13.9 13.9 12.2 10.2 2.6

.1

T o ta l loans, d iscou n ts, an d overdrafts. 37.1 45.3 40.7 38.0 37.7 35.7 36.9 36.3 35.9 36.9

Obligations, direct, of the U . S. Government. . . 9.8 3.2 5.3 6.5 7.2 7.8 8.4 10.8 12.2 21.8

Obligations fully guaranteed by the U . S.

G overnm ent..................................................................... 5.0 4.2 5.2 5.5 5.4 5.1 4.9 4.9 4.7 4.9

Obligations of States and political subdivisions. 7.1 5.3 6.7 7.7 7.5 8.0 7.5 5.7 6.0 11.7

Other bonds, stocks, and securities.......................... 12.1 3.1 7.2 9.5 12.2 13.4 14.2 15.2 13.1 6.2

T o ta l loan s and se c u r itie s............................. 71.1 61.1 65.1 67.2 70.0 70.0 71.9 72.9 71.9 81.5

C^ustorners* liability on Account of" scccp tsn ccs .1

Banking house, furniture and fixtures.................... 3.0 4.3 2.9 2.9 2.6 2.7 3.1 3.2 3.3 2.2

Other real estate ow ned................................................. 2.6 3.3 1.9 1.9 2.0 2.2 2.4 2.8 3.8 2.8

Coin and currency............................................................. 3.0 4.1 3.3 3.1 3.1 3.1 3.0 3.0 2.8 3.4

Balances with other banks........................................... 18.9 27.2 26.3 24.5 21.3 21.2 18.4 16.7 15.7 9.5

Cash item s in process of collection . . .7 .2 .4 .4 .7 .8 1.3 .3

.1

Acceptances of other banks and bills sold with

Other assets.......................................................................... .7 .5 .2 .6 .3 .5 .6 1.1 .3

T o ta l a s s e ts .............................................................. 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
L IA B IL IT IE S

Demand deposits of individuals, partnerships,

and corporations...........................................................

Time deposits of individuals, partnerships, and

corporations.....................................................................

Public funds of States and political subdivisions

U. S. Government deposits........................................ .

Postal savings deposits..................................................

Deposits of other banks...............................................

Cash letters of credit; certified, officers’ and

travelers’ checks outstanding.................................

T o ta l d e p o s its .

Mortgage bonds and participation certificates

outstanding......................................................................

Agreements to repurchase securities sold.............

Borrowed m oney................................................................

Securities borrowed..........................................................

Liability on account of acceptances........................

Interest, taxes and other expenses accrued and

unpaid................................................................................

Dividends declared but not yet payable...............

Other liabilities...................................................................

T o ta l lia bilities, excluding capital

a c c o u n t................................................................

Capital stock and capital notes and debentures.

Surplus....................................................................................

Undivided profits— net...................................................

Reserve for contingencies and undeclared

dividends...........................................................................

Retirement fund for preferred stock or capital

notes and debentures..................................................

T o ta l liabilities,

a c c o u n t ...............

in clu d in g cap ital

29.9

41.4

8.6

.6

.9

1.5

.6

83.5

.1

.3 '

.1

" a

84.4

9.8

3.4

1.3

1.0

.1

100.0

21.1

8.4

72.6

22.0

4.3

1.1

100.0

28.7

10.5

1.0

.5

81.3

81.3

13.9

2.9

1.4

100.0

37.8

34.2

9.8

.2

1.1

.2

.5

83.8

84.0

11.3

2.6

1.4

100.0

33.6

38.7

9.0

.3

1.4

.5

.4

83.9

.1

’ '.i ’

84.4

10.6

2.9

1.4

100.0

31.3

41.9

8.9

.2

1.4

.9

.6

85.2

.1

' .2 '

.1

.1

.1

85.8

9.4

2.8

1.1

100.0

30.3

42.2

8.1

.4

1.1

.9

.5

83.5

.2

’ .2 '

.1

.1

.2

84.3

10.1

3.2

1.3

.9

.2

100.0

27.0

45.7

7.3

.4

.7

1.5

.7

83.3

.2

.5 ‘

.1

’ ” '3 ’

84.4

9.3

3.4

1.3

1.5

.1

100.0

26.3

40.8

9.5

1.4

.9

3.1

.7

82.7

.1

‘ '.6~

.2

' .5’

84.1

8.6

4.5

1.4

100.0

11.8

69.9

4.2

.9

' ' ’2.5 ’

.3

89.6

.1

’ .3

4.9

3.5

.7

1 Because of the small numbers of banks, figures for this group are not necessarily typical of those for banks with deposits of over $50,000,000.

2 Excludes 2 national banks in Alaska, 1 bank in Hawaii, 11 banks in the District of Columbia, and 1 other bank.

00ASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
EXAMINERS’ ANALYSES OF INSURED BANKS

Table 128, E X A M IN E R S’ A N A LYSIS OF CAPITAL, ASSETS, AND LIABILITIES OF OPERATING INSURED COMMERCIAL B A N K S

n o t M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , L a t e s t E x a m i n a t i o n i n 1935

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES

(Amounts in thousands of dollars)

Number

of

banks

Capital account Total

Total RFC

capital

Private

capital

(book

value)

Net

deductions

Net sound

capital

Net sound

private

capital

Net

sound

assets

Total

deposits

liabilities

(exclusive

of capital

account)

U nited S tates— t o t a l...................................................... 7,734 1,133,409 203,718 929,691 266,252 867,157 663,439 6,204,595 5,230,618 5,337,438

Banks w ith deposits of— 1

$100,000 and under................................................... 930 24,047 3,705 20,342 3,896 20,151 16,446 81,709 60,108 61,558

$100,000 to $250 ,00 0................................................ 2,469 97,338 15,692 81,646 12,128 85,210 69,518 480,380 389,697 395,170

637,238 $250,000 to $500 ,00 0................................................ 1,959 130,784 22,292 108,492 17,784 113,000 90,708 750,238 629,344

$500,000 to $750 ,00 0................................................ 778 88,244 16,059 72,185 13,871 74,373 58,314 514,774 433,455 440,401

$750,000 to $1,0 0 0 ,0 0 0 ........................................... 446 65,251 11,238 54,013 12,594 52,657 41,419 414,833 358,218 362,176

$1,000 000 to $ 2 ,0 0 0 ,0 0 0 ....................................... 671 181,876 35,854 146,022 41,532 140,344 104,490 1,012,658 856,373 872,314

$2,000,000 to $5,000,000 ........................................ 322 184,239 30,989 153,250 51,956 132,283 101,294 1,011,669 861,198 879,386

$5,000,000 to $50,0 0 0 ,0 0 0 ..................................... 128 298,687 49,952 248,735 91,462 207,225 157,273 1,538,207 1,286,800 1,330,982

Over $50,0 0 0 ,0 0 0 ........................................................ 4 60,632 17,692 42,940 20,510 40,122

1,792

22,430 392,565

7,562

349,771 352,443

N ot classified2 ............................................................. 27 2,311 245 2,066 519 1,547 5,654 5,770

State

Alabam a.......................................................................... 120 8,453 1,068 7,385 797 7,656 6,588 39,066 30,312 31,410

Arizona............................................................................ 5 1,492 25 1,467 120 1,612 1,587 14,995 13,292 13,383

Arkansas......................................................................... 156 8,787 2,066 6,721 1,293 7,494 5,428 43,678 35,907 36,184

California........................................................................ 106 61,047 12,755 48,292 4,532 56,515 43,760 443,372 385,211 386,857

Colorado.......................................................................... 55 3,050 535 2,515 651 2,399 1,864 22,091 19,676 19,692

Connecticut................................................................... 45 21,241 3,425 17,816 4,840 16,401 12,976 130,195 112,494 113,794

Delaware.........................................................................

District of Columbia®

24

11

8,970 325 8,645 1,134 7,836 7,511 47,724 39,532 39,888

Florida............................................................................. 94 8,228 597 7,631 290 7,938 7,341 51,221 42,973 43,283

Georgia............................................................................ 176 14,739 1,704 13,035 1,397 13,342 11,638 70,286 53,531 56,944

Idaho................................................................................. 24 1,249 210 1,039 94 1,155 945 9,675 8,519 8,520

Illinois.............................................................................. 500 51,679 4,146 47,533 2,107 49,572 45,426 323,633 272,554 274,061

Indiana............................................................................ 367 43,993 7,676 36,317 10,781 33,212 25,536 287,892 245,968 254,680

Iow a.................................................................................. 438 26,107 2,450 23,657 1,291

1,214

24,816 22,366 224,811 199,652 199,995

K ansas............................................................................. 254 13,096 2,358 10,738 11,882 9,524 93,571 81,488 81,689

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
K entucky....................................................................... 283 26,717 3,785 22,932 4,318 1 22,399 18,614 149,209 125,862 126,810

Louisiana........................................................................ 114 16,153 4,783 11,370 1,704 | 14,449 9,666 80,300 65,053 65,851

M a in e............................................................................... 16 7,564 2,926 4,638 4,156 3,408 482 32,498 29,030 29,090

M aryland....................................................................... 111 20,518 3,242 17,276 4,367 16,151 12,909 109,638 91,707 93,487

Massachusetts............................................................. 40 19,584 2,625 16,959 5,764 13,820 11,195 110,138 95,271 96,318

M ichigan........................................................................ 274 30,818 8,041 22,777 9,957 20,861 12,820 210,558 181,187 189,697

Minnesota...................................................................... 429 19,316 3,227 16,089 779 18,537 15,310 155,459 136,665 136,922

Mississippi..................................................................... 171 16,191 5,817 10,374 1,147 15,044 9,227 105,636 88,835 90,592

M issouri.......................................................................... 508 28,557 3,513 25,044 4,258 24,299 20,786 206,348 178,607 182,049

M ontana......................................................................... 52 3,055 660 2,395 337 2,718 2,058 18,542 15,770 15,824

N ebraska........................................................................ 230 8,822 1,879 6,943 392 8,430 6,551 60,908 52,306 52,478

Nevada3 .......................................................................... 3

New Hampshire3 ....................................................... 3

New Jersey.................................................................... 100 75,636 14,561 61,075 48,454 27,182 12,621 346,160 308,508 318,978

New M exico................................................................. 14 739 208 531 94 645 437 7,316 6,670 6,671

New Y o r k ...................................................................... 190 146,967 28,065 118,902 46,372 100,595 72,530 674,079 554,128 573,484

North Carolina............................................................ 182 21,755 3,530 18,225 139 21,616 18,086 138,132 112,610 116,516

North D akota.............................................................. 126 4,873 1,579 3,294 2,268 2,605 1,026 19,120 16,425 16,515

O hio.................................................................................. 369 60,615 18,913 41,702 11,718 48,897 29,984 328,426 276,888 279,529

Oklahom a........................................................... 172 5,377 5,377 296 5,081 5,081 43,448 38,128 38,367

Oregon ............................................................................. 43 3,320 944 2,376 234 3,086 2,142 28,176 25,003 25,090

Pennsylvania................................................................ 298 164,087 13,429 150,658 44,747 119,340 105,911 633,837 494,643 514,497

Rhode Island3 ............................................................. 2

South Carolina............................................................ 88 4,905 712 4,193 424 4,481 3,769 41,373 36,717 36,892

South D akota.............................................................. 123 5,057 982 4,075 1,254 3,803 2,821 24,267 20,423 20,464

Tennessee....................................................................... 238 15,603 3,212 12,391 4,563 11,040 7,828 94,503 82,427 83,463

T exas................................................................................ 299 24.739 6,678 18,061 4,054 20,685 14,007 112,450 90,728 91,765

U ta h ................................................................................. 27 4,137 750 3,387 154 3,983 3,233 27,421 23.201 23,438

Verm ont.......................................................................... ! 33 20,279 7,060 13,219 10,896 9,383 2,323 60,527 50,414 51,144

Virginia........................................................................... 166 24,255 4,012 20,243 4,651 19,604 15,592 124,716 99,000 105,112

W ashington................................................................... 88 4,957 1,181 3,776 215 4,742 3,561 30,971 26,118 26,229

W est Virginia............................................................... 72 13,430 2,063 11,367 4,898 8,532 6,469 61,670 52,796 53,138

W isconsin....................................................................... 470 45,556 13,276 32,280 10,533 35,023 21,747 268,806 232,563 233,783

W yom ing........................................................................ 25 1,790 545 1,245 372 1,418 873 12,528 11,059 11,110

d e p o s its as of Decem ber 31, 1935.

in clu d e s chiefly banks reorganized subsequent to latest examination. 

8Figures included in totals for the United States.

00

00EXAMINERS' ANALYSES OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 129. E x a m i n e r s ’ A n a l y s is OF ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE

Sy s t e m , L a t e s t E x a m in a t io n in 1935

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES

(Amounts in thousands of dollars)

00

U nited States— t o t a l...............

B anks w ith deposits o f— 5

$100,000 and under............

$100,000 to $250,000. . . .

$250,000 to $ 5 0 0 ,0 0 0 -------

$500,000 to $750,000.........

$750,000 to $1,000,000. . .

$1,000,000 to $2,000,000 .

$2,000,000 to $5,000,000 .

$5,000,000 to $50,000,000

Over $50,000,000.................

N ot classified3.......................

Alabam a.

Arizona. . .

Arkansas. .

California.

Colorado. .

S tate

Connecticut....................

Delaware...........................

District of Columbia4.

Florida...............................

Georgia..............................

Id a h o ...

Illinois..

Indiana.

Iowa

Kansas. .

N um ­

ber

of

banks

7,734

930

2,469

1,959

778

446

671

322

128

4

27

120

5

156

106

55

45

24

11

94

176

24

500

367

438

254

Total assets

Book

value

6,470,847

85,605

492,508

768,022

528,645

427,427

1,054,190

1,063,625

1,629,669

413,075

8,081

39,863

14,875

44,971

447,904

22,742

135,035

48,858

66,828

51,511

71,683

9,769

325,740

298,673

226,102

94,785

Estimated losses and

doubtful items

Total

306,087

4,355

15,542

23,106

17,509

15,347

48,730

57,926

101,339

21,714

519

939

84

1,432

7,149

823

5,286

1,425

703

1,660

151

5,299

12,028

2,296

2,162

277,043

3,323

12,308

19,414

15,016

13,586

44,022

53,404

94,187

21,264

519

827

81

1,119

6,540

539

4,562

1,072

29,044

1,032

3,234

3,692

2,493

1,761

4,708

4,522

7,152

450

546

1,494

126

4,445

11,270

1,544

1,368

Assets

not

shown

on

books

O

39,835

459

3,414

5,322

3,638

2,753

7,198

112

3

313

609

284

724

353

157

166

25

854

758

752

794

Net sound value

Total

6,204,595

81,709

480,380

750,238

514,774

414,833

1,012,658

5,970 1,011,669

9,877 1,538,207

1,204 392,565

7,562

142

204

139

2,617

172

446

291

413

263

57

3,192

1,247

1,005

948

920,751

14,401

66,149

97,990

75,339

57,800

154,494

158,140

252,882

43,556

39,066

14,995

43,678

443,372

22,091

130,195

47,724

51,221

70,286

9,675

323,633

287,892

224,811

93,571

Slow , criticized

5,599

1,671

6,276

48,281

2,306

28,675

5,273

4,512

13,812

502

38,328

39,910

19,514

5,531

5,283,844

67,308

414,231

652,248

439,435

357,033

858,164

853,529

1,285,325

349,009

7,562

33,467

13,324

37,402

395,091

19,785

101,520

42,451

46,709

56,474

9,173

285,305

247,982

205,297

88,040

Loans, discounts, and overdrafts

Book

value

2,522,561

40,705

207,104

305,801

208,793

161,112

411,540

405,749

618,281

161,167

2,309

19,833

3,763

18,154

181,666

8,048

64,413

19,148

12,241

34,198

2,765

100,651

102,619

82,516

33,132

Estimated losses and

doubtful items

Total

164,706

2,882

9,605

13,129

9,195

7,376

25,149

31,607

52,603

12,641

519

491

49

1,049

5,143

626

4,203

738

291

933

103

3,487

5,991

1,327

1,359

Losses

139,640

2,001

6,760

9,780

7,087

5,756

20,971

27,436

47,035

12,295

519

397

46

747

4,630

352

3,568

385

157

767

84

2,682

5,377

678

765

N et sound value

94

3

302

513

274

635

353

Total

25,066

881

2,845

3,349

2,108

1,620

4,178

4,171

5,568

346

134

166

19

805

614

649

594

2,357,855

37,823

197,499

292,672

199,598

153,736

386,391

374,142

565,678

148,526

1,790

19,342

3,714

17,105

176,523

7,422

60,210

18,410

641,043

10,559

49,571

72,557

55,652

40,582

107,272

109,043

162,647

33,160

11,950

33,265

2,662

97,164

96,628

81,189

31,773

Slow

3,667

1,072

5,167

35,577

1,887

22,555

4,499

2,332

8,755

379

30,466

29,602

18,099

4,011

N ot

criticized

1,716,812

27,264

147,928

220,115

143,946

113,154

279,119

265,099

403,031

115,366

1,790

15,675

2,642

11,938

140,946

5,535

37,655

13,911

9,618

24,510

2,283

66,698

67,026

63,090

27,762

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky......................................... 283 153,527 5,229 4,546 683 911 149,209 23,985 125,224 70,372 2,879 2,501 378| 67,493 19,256 48,237

Louisiana........................................ 114 82,004 2,031 1,723 308 327 80,300 16,555 63,745 30,890 829 658 171| 30,061 10,925 19,136

M a in e................................................ 16 36,654 4,229 3,871 358 73 32,498 8,954 23,544 18,939 2,333 2,106 227 16,606 7,666 8,940

M arylan d........................................ 111 114,005 5,611 4,957 654 1,244 109,638 18,928 90,710 48,478 3,099 2,458 641 45,379 15,865 29,514

M assachusetts.............................. 40 115,902 6,570 5,710 860 806 110,138 20,842 89,296 54,363 2,769 2,006 763 51,594 14,882 36,712

Michigan.......................................... 274 220,515 10,334 8,776 1,558 377 210,558 22,275 188,283 63,864 4,006 2,853 1,153 59,858 12,143 47,715

Minnesota....................................... 429 156,238 2,704 1,304 1,400 1,925 155,459 11,983 143,476 53,826 1,718 554 1,164 52,108 7,460 44,648

M ississippi...................................... 171 106,783 1,619 1,497 122 472 105,636 21,527 84,109 35,901 1,058 961 97 34,843 11,788 23,055

M issouri........................................... 508 210,606 6,058 4,646 1,412 1,800 206,348 23,059 183,289 83,566 4,178 2,870 1,308 79,388 18,720 60,668

M on tan a.......................................... 52 18,879 454 276 178 117 18,542 1,751 16,791 5,711 326 171 155 5,385 987 4,398

Nebraska......................................... 230 61,300 773 600 173 381 60,908 3,851 57,057 21,331 415 260 155 20,916 3,315 17,601

3 4,352

3 9,412

New Jersey..................................... 100 394,614 50,133 48,191 1,942 1,679 346,160 59,750 286,410 155,309 27,473 25,565 1,908 127,836 38,448 89,388

New M exico.................................. 14 7,410 137 105 32 43 7,316 698 6,618 2,371 94 71 23 2,277 585 1,692

New Y o rk....................................... 190 720,451 52,662 49,670 2,992 6,290 674,079 73,680 600,399 298,702 27,971 25,415 2,556 270,731 54,733 215,998

North Carolina............................! 182 138,271 1,724 1,464 260 1,585 138,132 10,587 127,545 47,418 1,145 903 242 46,273 8,006 38,267

North D a k o ta.............................. 1 126 21,388 2,484 1,725 759 216 19,120 3,745 15,375 8,866 1,712 1,074 638 7,154 2,391 4,763

Ohio.................................................... 369 340,144 13,327 12,597 730 1,609 328,426 65,807 262,619 143,237 8,572 7,875 697 134,665 45,402 89,263

Oklahom a....................................... 172 43,744 596 265 331 300 43,448 2,250 41,198 12,303 308 137 171 11,995 1,527 10,468

Oregon.............................................. 43 28,410 610 424 186 376 28,176 3,996 24,180 9,229 562 393 169 8,667 3,123 5,544

Pennsylvania................................ 298 678,584 49,032 47,645 1,387 4,285 633,837 141,629 492,208 267,115 20,257 19,188 1,069 246,858 73,467 173,391

Rhode Island 4.............................. 2 7,069

South Carolina............................. 88 41,797 685 663 22 261 41,373 1,798 39,575 14,408 213 192 21 14,195 866 13,329

South D a k o ta............................... 123 25,521 1,358 998 360 104 24,267 3,327 20,940 10,174 1,030 717 313 9,144 2,099 7,045

Tennessee........................................ 238 99,066 4,787 4,362 425 224 94,503 22,626 71,877 46,646 2,673 2,266 407 43,973 16,876 27,097

Texas................................................. 299 116,504 4,459 3,834 625 405 112,450 16,024 96,426 43,033 3,024 2,480 544 40,009 12,471 27,538

U ta h .................................................. 27 27,575 466 417 49 312 27,421 3,356 24,065 9,770 215 172 43 9,555 2,265 7,290

Verm ont.......................................... 33 71,423 11,141 10,407 734 245 60,527 21,479 39,048 37,426 5,553 4,864 689 31,873 17,766 14,107

Virginia............................................ 166 129,367 5,020 4,373 647 369 124,716 23,634 101,082 70,336 3,546 2,903 643 66,790 17,692 49,098

W ashington.................................... 88 31,186 515 392 123 300 30,971 3,010 27,961 10,575 217 104 113 10,358 2,427 7,931

W est Virginia................................ i 72 66,568 5,040 4,414 626 142 61,670 13,098 48,572 29,688 3,019 2,398 621 26,669 9,854 16,815

W isconsin........................................Ii 470 279,339 11,858 9,940 1,918 1,325 268,806 42,993 225,813 95,716 6,172 4,336 1,836 ; 89,544 31,229 58,315

W yom in g......................................... ! 25 12,900 451 257 194 79 12,528 2,329 10,199 5,513 308 140 168j 5,205

1

2,169 3,036

e x a m in e r s ’ a n a ly ses of insured banks 185

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 129. E X A M IN E R S ’ A N A L Y S IS OP A S S E T S OF O P E R A T IN G IN SU R ED CO M M E R C IA L B A N K S N O T M E M B E R S OF TH E F E D E R A L R E S E R V E

S y s te m , L a t e s t E x a m in a t i o n i n 1935— Continued

B A N K S GROUPED B Y AMOUNT OF D EPO SITS AND B Y STATES

00

(Amounts in thousands of dollars)

N um ­

ber

of

banks

U nited S tates— t o t a l.................................... 7,734

Banks w ith deposits o f -

$100,000 and under.. . .

$100,000 to $250,000. .

$250,000 to $500,000 . .

$500,000 to $750 ,00 0...........

$750,000 to $1,000,000. . . .

$1,000,000 to $2,000,000. .

$2,000,000 to $5,000,000 . .

$5,000,000 to $50,000,000.

Over $50,000,000....................

Not classified3..........................

Alabam a.

Arizona. . .

Arkansas. .

California.

Colorado. .

Sta tes

Connecticut..................

Delaware........................

District of Colum bia4

Florida.............................

Georgia...........................

Idah o. .

Illinois. .

Indiana.

Io w a ... .

K an sas..

930

2,469

1,959

778

446

671

322

128

4

27

120

5

156

106

55

45

24

11

94

176

24

500

367

438

254

Securities Other assets

Book

value

Estimated losses

and doubtful items Net sound value

Book

Estimated losses and

doubtful items Net sound value

Total Losses

j

5

§ «2

P

Total Slow N ot

criticized

value

Total Losses

—

3 P 0

P

Total Slow N ot

criticized

2,123,479 85,305 84,896 409 2,038,174 44,636 1,993,538 1,824,807 56,076 52,507 3,569 1,768,731 235,072 1,533,659

13,789

116,460

216,755

419

2,820

5,642

415

2,782

5,595

4

38

47

13,370

113,640

211,113

485

3,291

5,713

12,885

110,349

205,400

31,111

168,944

245,466

1,054

3,117

4,335

907

2,766

4,039

147

351

296

30,057

165,827

241,131

3,357

13,287

19,720

26,700

152,540

221,411

164,207

141,487

353,157

5,301

5,420

15,410

5,243

5,399

15,260

58

21

150

158,906

136,067

337,747

3,632

3,944

10,445

155,274

132,123

327,302

155,645

124,828

289,493

3,013

2,551

8,171

2,686

2,431

7,791

327

120

380

152,632

122,277

281,322

16,055

13,274

36,777

136,577

109,003

244,545

376,194

563,888

175,681

1,861

7,138

4,994

9,291

196,568

5,515

18,417

27,176

4,700

18,390

27,112

4,700

27

64

357,777

536,712

170,981

1,861

6,840

4,994

9,071

6,594

10,532

351,183

526,180

170,981

281,682

447,500

76,227

7,902

21,560

4,373

7,578

20,040

4,269

324

1,520

104

273,780

425,940

71,854

42,503

79,703

10,396

231,277

346,237

61,458

1,861

5,949

4,975

3,911

12,892

6,118

3,911 3,911

298 290 ! 8 891

19

150

35

140

35

10 12,742

6,083

1,041

580

11,701

5,503

220 220 112 8,959 17,526 163 152 11 17,363 997 16,366

777 777 195,791 143 195,648 69,670 1,229 1,133 96 68,441 12,561 55,880

125 122 3 5,390 144 5,246 9,179 72 65 7 9,107 275 8,832

34,677

18,352

560 560 34,117 190 33,927 35,945 523 434 89 35,422 5,930 29,492

585 585 17,767 1 17,766 11,358 102 102 11,256 773 10,483

19,865

12,123

3,796

111,877

91,014

66,477

25,981

246

393

10

229

393

10

17 19,619

11,730

3,786

1,136

1,627

9

18,483

10,103

3,777

19,405

25,362

3,208

166

334

160

334

6

1

19,239

25,028

1,044

3,430

18,195

21,598

38 32 6 3,170 114 3,056

451 451 111,426 439 110,987 113,212 1,361 1,312 49 111,851 7,423 104.428

2,503

438

304

2,503

437

284

88,5111 1,802 86,709 105,040 3,534 3,390 144 101,506 8,506 93,000

1

20

66,039!

25,677:

116

106

65,923

25,571

77,109

35,672

531

499

429

319

102

180

76,578

35,173

1,299

1,414

75,279

33,759

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky...........

Louisiana...........

M a in e..................

M aryland...........

Massachusetts .

M ichigan.. .

M innesota..

Mississippi.

M issouri. . .

M ontana. . .

Nebraska..............

Nevada 4...............

New Hampshire4

New Jersey..........

New M exico. . . .

New Y ork..........

North Carolina.

North D ak ota. .

Ohio......................

Oklahom a..........

Oregon.................

Pennsylvania. .

Rhode Island 4.

South Carolina.

South D a k ota..

Tennessee.

T exas..........

U ta h...........

Verm ont. .

Virginia . . .

W ashington. .

W est Virginia.

W isconsin. . . .

W yom ing. . . .

283

114

16

111

40

274

429

171

508

52

23033

100

14

190

182

126

369

172

43

2982

88

123

238

299

27

33

166

88

72

470

25

41,347!

19,610

10,558

42,808

37,255j

86,1711

59,753

33,948:

55,339

5,495

14,129

125,573

2,195,

254,602

49,086

5,683!

110,633

13,234!

9,751!

248,905

11,036

7,677

19,288

27,144

11,340

21,979

25,192

11,361

15,346

113,142

2,577

1,104

487

1,523

1,730

2,988

3,270

472

278

450

55

193

1,104

362

1,521

1,730

2,988

3,207

456

253

445

45

183

13,386 13,386 2 2

15,919

99

229

2,002

1304

21,187

280

116

838

614

86

3,849

794

174

788

4,430

49

15,919

99

229

2,002

804

21,160

1252

280

106

833

610

86

3,847

794

174

788

4,430

43

50

27

40,243

19,123

9,035

41,078

34,267

82,901

59.281

33,670

54,889

5,440

13,936

112,187

2,193

238,683

48,987

5,454

108,631

13,104

9,747

227,718

10,756

7,561

18,450

26,530

11,254

18,130

24,398

11,187

14,558

108,712

2,528

1,513

3,687

284

344

1,954

1,853

152

7,797

440

50

68

4197

832

107

117

2,413

458

80

7,024

75

19

2,314

191

453

235

1,339

170

1,140

1,8068

38,730

15,436

8,751

40,734

32,313

81,048

59,129

25,873

54,449

5,390

13,868

111,768

2,186

237,851

48,880

5,337

106,218

12,646

9,667

220,694

10,681

7,542

16,136

26,339

10,801

17,895

23,059

11,017

13,418

106,006

2,520

41,808

31,504

7,157

22,719

24,284

70,480

42,659

36,934

71,701

7,673

25,840

113,732

2,844

167,147

41,767

6,839

86,274

18,207

9,430

162,564

16,353

7,670

33,132

46,327

6,465

12,018

33,839

9,250

21,534

70,481

4,810

1,246

715

373

782

813

3,058

514

283

1,430

73

165

9,274

41

8,772

480

543

2,753

158

44

7,588

192

212

1,276

821

165

1,739

680

124

1,233

1,256

94

941

703

244

769

716

2,716

294

283

1,331

60

157

9,240

32

8,336

462

422

2,720

48

27

7,297

191

175

1,263

744

159

1,696

676

114

1,228

1,174

74

305 j

12

129

13

97

342

220

349

436

18

121

33

110

17

291

40,562

30,789

6,784

21,937

23,471

67,422

42,145

36,651

70,271

7,600

25,675

104,458

2,803

158,375

41,287

6,296

83,521

18,049

9,386

154,976

16,161

7,458

31,856

45,506!

6,300

10,279;

33,159

9,126

20,30l!

69,225

4,716

3,216

1,943

1,004

2,719

4,006

8,279

4,371

1,942

3,899

714

468

20,883

106

18,115

2,474

1,237

17,992

265

793

61,138

857

1,209

3,436

3,362

638

3,478

4,603

413

2,104

9,958

152

37,346

28,846

5,780

19,218

19,465

59,143

37,774

34,709

66,372

6,886

25,207

83,575

2,697

140,260

38,813

5,059

65,529

17,784

8,593

93,838

15,304

6,249

28,420

42,144

5,662

6,801

28,556

8,713

18,197

59,267

4,564

1 Assets not shown on books are not allocated to types of assets.

* Deposits as of December 31, 1935.

3 Includes chiefly banks reorganized subsequent to latest examination.

4 Figures included in totals for the United States.

00

--4EXAM INERS’ ANALYSES OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 130. E x a m in e r s' ANALYSIS OF ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE

System , L atest E x a m in a t io n in 1935

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES

(Percent of book value)

Total assets Loans, discounts, and overdrafts

N um ­

ber of

banks

Estimated losses and

doubtful items Assets

not

Net sound value

Book

Estimated losses and

doubtful items N et sound value

value

Total Losses

Doubtful

shown

on

books

Total Slow

N ot

criticized

value

Total Losses

Doubtful Total Slow

Not

criticized

7,734

930

100.0 4.7 4.3 .4 .6 95.9 14.2 81.7 100.0 6.5 5.5 1.0 93.5 25.4 68.1

B anks w ith deposits o f— 1

$100,000 and under................ 100.0 5.1 3.9 1.2 .5 95.4 16.8 78.6 100.0 7.1 4.9 2 2 92.9 25.9 67.0

$100,000 to $250,000 ..............

$250,000 to $ 5 0 0 ,0 0 0 ..............

2,469

1,959

100.0

100.0

3.2

3.0

2.5

2.5

.7

.5

.7

.7

97.5

97.7

13.4

12.8

84.1

84.9

100.0

100.0

4.6

4.3

3.2

3.2

1.4

1.1

95.4

95.7

23.9

23.7

71.5

72.0

$500,000 to $750,000 ............. 778 100.0 3.3 2.8 .5 .7 97 4 14.3 83.1 100.0 4.4 3.4 1.0 95.6 26.7 68.9

$750,000 to $1,000,000

$1,000,000 to $ 2,000,000. . .

446

671

100.0

100.0

3.6

4.6

3.2

4.2

.4

.4

.6

.7

97.0

96.1

13.5

14.7

83.5

81.4

100 ft

100.0

4.6

6.1

3.6

5.1

1.0

1.0

95.4

93.9

25.2

26.1

70.2

67.8

$2,000,000 to $5,000,000 . . .

$5,000,000 to $50,000,000. .

Over $50 ,0 0 0 ,0 0 0 .....................

322

128

4

100.0

100.0

100.0

5.4

6.2

5.3

5.0

5.8

5.2

.4

.4

.1

.5

.6

.3

95.1

94.4

95.0

14.9

15.5

10.5

80.2

78.9

84.5

100.0

100.0

100.0

7.8

8.5

7.8

6.8

7.6

7.6

1.0

.9

.2

92.2

91.5

92.2

26.9

26.3

20.6

65.3

65.2

71.6

JNfot classified ^ 27 100.0 6.4 6.4 93.6 93.6 100.0 22.5 22.5 77.5 77.5

S tate

A labam a........................................ 120 100.0 2.4 2.1 .3 .4 98.0 14.0 84.0 100.0 2.5 2.0 .5 97.5 18.5 79.0

Arizona.......................................... 5 100.0 .6 .5 .1 1.4 100.8 11.2 89.6 100.0 1.3 1.2 .1 98.7 28.5 70.2

Arkansas........................................ 156 100.0 3.2 2.5 .7 .3 97.1 13.9 83.2 100.0 5.8 4.1 1.7 94.2 28.5 65.7

California..................................... 106 100.0 1.6 1.5 .1 .6 99.0 10.8 88.2 100.0 2.8 2.5 .3 97.2 19.6 77.6

Colorado........................................ 55 100.0 3.6 2.4 1.2 .7 97.1 10.1 87.0 100.0 7.8 4.4 3.4 92.2 23.4 68.8

Connecticut................................. 45 100.0 3.9 3.4 .5 .3 96 4 21.2 75.2 100.0 6.5 5.5 1.0 93.5 35.0 58.5

Delaw are....................................... 24 100.0 2.9 2.2 .7 .6 97.7 10.8 86.9 100.0 3.8 2.0 1.8 96.2 23.5 72.7

District of Columbia^ 11

94

176

Florida...........................................

Georgia..........................................

100.0

100.0

1.4

2.3

1.1

2.1

.3

.2

.8

.4

99.4

98.1

8.7

19.3

90.7

78.8

100.0

100.0

2.4

2.7

1.3

2.2

1.1

.5

97.6

97.3

19.0

25.6

78.6

71.7

Idaho ................. 24 100.0 1.5 1.3 .2 .5 99.0 5.1 93.9 100.0 3.7 3.0 .7 96.3 13.7 82.6

Illinois ................. 500 100.0 1.6 1.4 .2 1.0 99.4 11.8 87.6 100.0 3.5 2.7 .8 96.5 30.3 66.2

Ind ian a..................'....................... 367 100.0 3.9 3.6 .3 .3 96.4 13.4 83.0 100.0 5.4 4.8 .6 94.6 28.8 65.8

Io w a ................................................ 438 100.0 1.0 .7 .3 .4 99.4 8.6 90.8 100.0 1.6 .8 .8 98.4 21.9 76.5

K an sas........................................... 254 100.0 2.3 1.5 .8 1.0 98.7 5.8 92.9 100.0 4.1 2.3 1.8 95.9 12.1 83.8

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky...................................... 283 100.0 3.4 3.0 .4 .6 97.2 15.6 81.6 100.0 4.1 3.6 .5 95.9 27.4 68.5

Louisiana...................................... 114 100.0 2.5 2.1 .4 .4 97.9 20.2 77.7 100.0 2.7 2.1 .6 97.3 35.4 61.9

M a in e............................................. 16 100.0 11.5 10 5 1.0 .2 88.7 24.4 64.3 100.0 12.3 11.1 1.2 87.7 40.5 47.2

M aryland...................................... 111 100.0 4.9 4.3 .6 1.1 96.2 16.6 79.6 100.0 6.4 5.1 1.3 93.6 32.7 60.9

M assachusetts............................ 40 100.0 5.7 4.9 .8 .7 95.0 18.0 77.0 100.0 5.1 3.7 1.4 94.9 27.4 67.5

M ichigan....................................... 274 100.0 4.7 4.0 .7 .2 95.5 10.1 85.4 100.0 6.3 4.5 1.8 93.7 19.0 74.7

M innesota.................................... 429 100.0 1.7 .8 .9 1.2 99.5 7.7 91.8 100.0 3.2 1.0 2.2 96.8 13.9 82.9

M ississippi................................... 171 100.0 1.5 1.4 .1 .4 98.9 20.1 78.8 100.0 2.9 2.6 .3 97.1 32.9 64.2

M issouri........................................ 508 100.0 2.9 2.2 .7 .9 98.0 11.0 87.0 100.0 5.0 3.4 1.6 95.0 22.4 72.6

M ontan a....................................... 52 100.0 2 4 1.5 .9 .6 98.2 9.3 88.9 100.0 5.7 3.0 2.7 94.3 17.3 77.0

N ebraska...................................... 230 100.0 1.3 1.0 .3 .7 99.4 6.3 93.1 100.0 1.9 1.2 .7 98.1 15.6 82.5

N evada3 ....................................... 3

New Hampshire3 ..................... 3

New Jersey.................................. 100 100.0 12.7 12.2 .5 .4 87.7 15.1 72.6 100.0 17.7 16.5 1.2 82.3 24.8 57.5

New M exico................................ 14 100.0 1.8 1.4 .4 .5 98.7 9.4 89.3 100.0 4.0 3.0 1.0 96.0 24.7 71.3

New Y o r k .................................... 190 100.0 7 3 6.9 .4 .9 93.6 10.2 83.4 100.0 9.4 8.5 .9 90.6 18.3 72.3

North Carolina.......................... 182 100.0 1 2 1.0 .2 1.1 99.9 7.7 92.2 100.0 2.4 1.9 .5 97.6 16.9 80.7

North D a k ota............................ 126 100.0 11.6 8.1 3.5 1.0 89.4 17.5 71.9 100.0 19.3 12.1 7.2 80.7 27.0 53.7

O hio................................................. 369 100.0 3.9 3.7 .2 .5 96.6 19.4 77.2 100.0 6.0 5.5 .5 94.0 31 7 62.3

Oklahom a..................................... 172 100.0 1.3 .5 .8 .6 99.3 5.1 94.2 100.0 2.3 .9 1.4 97.7 12.4 85.3

Oregon ........................................... 43 100.0 2.1 1.5 .6 1.3 99.2 14.1 85.1 100.0 6.1 4.3 1.8 93.9 33.8 60.1

Pennsylvania.............................. 298 100.0 7.2 7.0 .2 .6 93.4 20.9 72.5 100.0 7.6 7.2 .4 92.4 27.5 64.9

Rhode Island3 ........................... 2

South Carolina.......................... 88 100.0 1.6 1.5 .1 .6 99.0 4.3 94.7 100.0 1.5 1.3 .2 98.5 6.0 92.5

South D a k o ta............................ 123 100.0 5.3 3.9 1.4 .4 95.1 13.0 82.1 100.0 10.1 7.0 3.1 89.9 20.6 69.3

Tennessee..................................... 238 100.0 4.8 4.4 .4 .2 95.4 22.9 72.5 100.0 5.7 4.8 .9 94.3 36.2 58.1

T e xa s.............................................. 299 100.0 3.8 3.3 .5 .5 96.5 13.7 82.8 100.0 7.0 5.8 1.2 93.0 29.0 64.0

U ta h ................................................ 27 100 0 1.7 1.5 .2 1.2 99.5 12.2 87.3 100.0 2.2 1.8 .4 97.8 23.2 74.6

Verm ont........................................ 33 100.0 15.6 14.6 1.0 .4 84.8 30.1 54.7 100.0 14.8 13.0 1.8 85.2 47.5 37.7

Virginia.......................................... 166 100.0 3.9 3.4 .5 .3 96.4 18.3 78.1 100.0 5.0 4.1 .9 95.0 25.2 69.8

W ashington................................. 88 100.0 1.7 1.3 .4 1.0 99.3 9.6 89.7 100.0 2.1 1.0 1.1 97.9 22.9 75.0

W est V irg in ia ........................... 72 100.0 7.6 6.6 1.0 .3 92.7 19.7 73.0 100.0 10.2 8.1 2.1 89.8 33.2 56.6

W isconsin..................................... 470 100.0 4 2 3.5 .7 .4 96.2 15.4 80.8 100.0 6.4 4.5 1.9 93.6 32.6 61.0

W y om in g...................................... 25 100.0 3.5 2.0 1.5 .6 97.1 18.0 79.1 100.0 5.6 2.5 3.1 94.4 39.3 55.1

EXAMINERS' ANALYSES OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 130. E X A M IN E R S ’ A N A L Y S IS OF A S S E T S OF O PE R A T IN G IN SU R ED C O M M ER CIAL B A N K S NOT M E M B E R S OF TH E F E D E R A L R E S E R V E 

S y s te m , L a t e s t E x a m in a t i o n in 1935— Continued

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES

(Percent of book value)

*£>O

U nited States— t o t a l...............

B anks w ith deposits o f— 1

$100,000 and under...........

$100,000 to $250,000

$250,000 to $500,000 . . . .

$500,000 to $750,000

$750,000 to $1,000,000 . .

$1,000,000 to $2,000,000.

$2,000,000 to $5,000,000 .

$5,000,000 to $50,000,000

Over $ 5 0 ,0 0 0 ,0 0 0 ................

N ot classified2.......................

S tate

A labam a...................................

Arizona.....................................

Arkansas..................................

California.................................

Colorado..................................

Connecticut............................

Delaw are..................................

District of Columbia3 . . .

Florida......................................

Georgia.....................................

Id ah o.........................................

Illinois.......................................

Indiana.....................................

Io w a...........................................

K an sas......................................

N um -

of

banks

7,734

930

2,469

1,959

778

446

671

322

128

4

27

120

5

156

106

55

45

24

11

94

176

24

500

367

438

254

Securities

Book

value

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

Estimated losses and

doubtful items

Total

4.0

3.0

2.4

2.6

3.2

3.8

4.4

4.9

4.8

2.7

2.4

.4

2.3

1.6

3.2

1.2

3.2

.3

.4

2.8

.7

1.2

Losses

4.0

3.0

2.4

2.6

3.2

3.8

4.3

4.9

4.8

2.7

2.4

.4

2.2

1.6

3.2

1.1

3.2

.3

.4

2.8

.7 1.1

Doubtful

N et sound value

Total

96.0

97.0

97.6

97.4

96.8

96.2

95.6

95.1

95.2

97.3

100.0

95.8

100.0

97.6

99.6

97.7

98.4

96.8

98.8

96.8

99.7

99.6

97.2

99.3

98.8

Slow

2.1

3.5

2.8

2.6

2.2

2.8

2.9

1.8

1.9

12.5

.4

1.2

.1

2.6

.6

5.7

13.4

.2

.4

2.0.2

.4

N ot

criticized

93.9

93.5

94.8

94.8

94.6

93.4

92.7

93.3

93.3

97.3

100.0

83.3

99.6

96.4

99.5

95.1

97.8

96.8

93.1

83.4

99.5

99.2

95.2

99.1

98.4

Other assets

Book

value

Estimated losses and

doubtful items N et sound value

Total Losses Doubtful Total Slow

Not

criticized

100.0 3.1 2.9 .2 96.9 12.9 84.0

100.0 3.4 2.9 .5 96.6 10.8 85.8

100.0 1.8 1.6 .2 98.2 7.9 90.3

100.0 1.8 1.7 .1 98.2 8.0 90.2

100 0 1.9 1.7 .2 98.1 10.3 87.8

100.0 2.0 1.9 .1 98.0 10.7 87.3

100.0 2.8 2.7 .1 97.2 12.7 84.5

100.0 2.8 2.7 .1 97.2 15.1 82.1

100 0 4.8 4.5 .3 95.2 17.8 77.4

100.0

100.0

100.0

5.7 5.6 .1 94.3

100.0

13.7 80.6

100.0

1.2 1.1 .1 98.8 8.1 90.7

100.0 6 .6 99.4 9.5 89.9

100.0 .9 .8 .1 99.1 5.7 93.4

100.0 1.8 1.6 .2 98.2 18.0 80.2

100.0 .8 .7 .1 99.2 3.0 96.2

100.0 1.5 1.3 .2 98.5 16.5 82.0

100.0 .9 .9 99.1 6.8 92.3

100.0 .9 .8 .1 99.1 5.4 93.7

100.0 1.3 1.3 98.7 13.5 85.2

100.0 1.2 1.0 .2 98.8 3.6 95.2

100.0 1.2 1.2 98.8 6.6 92.2

100.0 3.4 3.2 .2 96.6 8.1 88.5

100.0 .7 .6 .1 99.3 1.7 97.6

100.0 1.4 .9 .5 98.6 4.0 94.6

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky.............

Louisiana..............

M a in e .....................

M arylan d.............

M assachusetts. .

M ichigan..............

M innesota...........

M ississippi...........

M issouri................

M ontan a...............

N ebraska..............

Nevada3 ...............

New Hampshire3

New Jersey

New M exico. . . .

New Y o rk ...........

North Carolina.

North D a k ota. .

O h io ........................

Oklahom a............

Oregon ...................

Pennsylvania . . .

Rhode Island8 . .

South Carolina. .

South D a k o ta . .

Tennessee.............

T e xas......................

U ta h .......................

V erm ont...............

Virginia.................

Washington . . . .

W est Virginia. . .

W isconsin.............

W yo m in g..............

283

114

16

111

40

274

429

171

508

52

230

3

3

100

14

190

182

126

369

172

43

298

2

88

123

238

299

27

33

166

88

72

470

25

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0 

100 0 

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

2.7

2.5

14.4

4.0

8.0

3.8

.8

.8

.8

1.0

10.7

.1

6.3.2

4.0

1.8

1.0

8.5

2.5

1.5

4.3

2.3

.8

17.5

3.2

1.5

5.1

3.9

1.9

2.7

1.9

14.4

4.0

8.0

3.7

.8

.7

.8

.8

10.7

.1

6.3.2

4.0

1.8

.6

8.5

2.5

1.4

4.3

2.3

.8

17.5

3.2

1.5

5.1

3.9

1.7

97.3 3.6 93.7 100.0 3.0 2.3 .7 97.0 7.7 89.3

97.5 18.8 78.7 100.0 2.3 2.2 .1 97.7 6.2 91.5

85.6 2.7 82.9 100.0 5.2 3.4 j 1.8 94.8 14.0 80.8

96.0 8 95.2 100.0 3.4 3.4 96.6 12.0 84.6

92.0 5.3 86.7 100.0 3.3 2.9 .4 96.7 16.5 80.2

96.2 2.2 94.0 100.0 4.3 3.8 .5 95.7 11.8 83.9

99.2 .2 99.0 100.0 1.2 .7 .5 98.8 10.2 88.6

99.2 23.0 76.2 100.0 .8 .8 99.2 5.2 94.0

99.2 .8 98.4 100.0 2.0 1.9 .1 98.0 5.4 92.6

99.0 .9 98.1 100.0 1.0 8

| -2 99.0 9.3 89.7

98.6 .5 98.1 100.0 .6 .6 99.4 1.8 97.6

89.3 .3 89.0 100.0 8 1 8.1 91.9 18.4 73.5

99.9 .3 99.6 100.0 1.4 1.1 .3 98.6 3 7 94.9

93 7 .3 93.4 100.0 5.2 5.0 .2 94.8 10.9 83.9

99.8 .2 99.6 100.0 1.1 1.1 98.9 5.9 93.0

96.0 2.1 93.9 100.0 7.9 6.2 1.7 92.1 18.1 74.0

98.2 2.2 96.0 100.0 3.2 3.2 96.8 20.8 76.0

99.0 3.5 95.5 100.0 .9 .3 .6 99.1 1.4 97.7

100.0 .8 99.2 100.0 .5 .3 .2 99.5 8.4 91.1

91.5 2.8 88.7 100.0 4.7 4.5 .2 95.3 37.6 57.7

97.5 .7 96.8 100.0 1.2 1.2 98.8 5.2 93.6

98.5 .2 98.3 100.0 2.8 2.3 .5 97.2 15.8 81.4

95.7 12.0 83.7 100.0 3.9 3.8 .1 96.1 10.4 85.7

97.7 .7 97.0 100.0 1.8 1.6 .2 98.2 7.2 91.0

99.2 4.0 95.2 100.0 2.6 2.5 9.8 87.6

82.5 1 1 81.4 100.0 14.5 14.1 .4 85.5 28.9 56.6

96.8 5.3 91.5 100.0 2.0 2.0 98.0 13.6 84.4

98 5 1.5 97.0 100.0 1.3 1.2 .1 98.7 4.5 94.2

94.9 7.5 87.4 100.0 5.7 5.7 94.3 9.8 84.5

96.1 1.6 94.5 100.0 1.8 1.7 .1 98.2 14.1 84.1

98.1 .3 97.8 100.0 1.9 1.5 .4 98.1 3.2 94.9

1 Deposits as of December 31, 1935.

2 Includes chiefly banks reorganized subsequent to latest examination.

® Figures included in totals for the United States.

e x a m in e r s ’ a n a ly ses of insured banks 191

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES

Table 131. SUMMARY OF EXAMINERS’ ANALYSIS OF ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F e d e r a l R e s e r v e Sy s t e m , E x a m in a t io n s O c t o b e r 1, 1933, t o D e c e m b e r 31, 1935

(Ratios in percent)

Ratio of estimated losses and doubtful items

to total book value of assets, by type of asset

Ratio of slow assets to total book value of assets,

by type of asset

Total assets Loans Securities Other assets Total assets Loans Securities Other assets

1933 1934 1935 1934 1935 1934 1935 1934 1935 1933 ! 1934 !

i ;

1935 1934 1935 1934 ! 1935 1934 | 1935

U nited States— t o t a l.................................. 10.5 6.7 4.7 8.0 6.5 7.5 4.0 3.6 3 .i 20.3 ! 1 7 9 14.2 32.6 25.4 1.7 2.1 13.1 12.9

B anks w ith deposits of— 1 |

$100,000 and under............................... 9.3 6.2 5.1 8.4 7.1 6.1 3.0 3.2 3.4 25.4 | 21.2 16.8 34.8 25.9 3.8 ! 3.5 10.5 10.8

$100,000 to $ 2 5 0 ,0 0 0 .............................. 8.5 4.7 3.2 6 1 4.6 5.4 2.4 2.4 1.8 23.3 18.9 ! 13.4 35.1 | 23.9 2.0 ; 2.8 8.6 j 7.9

$250,000 to $ 5 0 0 ,0 0 0 ............................ 8.7 5.2 3.0 6.5 | 4.3 6.2 | 2.6 2.6 1.8 23.0 18.4 ! 12.8 34.4 ! 23.7 1 9 i 2.6 9 5 8.0

$500,000 to $ 7 5 0 ,0 0 0 ............................ 10.9 5.3 3.3 6.2 4.4 6.8 3.2 2.7 1 1.9 22.3 19.3 ! 14.3 37.5 ! 26.7 1.6 2.2 10.3 10.3

$750,000 to $ 1 ,0 0 0 ,0 0 0 ........................ 11.0 6.5 3.6 6.6 ; 4.6 9.3 I 3.8 3.2 ! 2.0 21.4 i 18.4 | 13.5 33.9 i 25.2 o 'i

2.8 11.5 | 10.7

$1,000,000 to $ 2 ,0 0 0 ,0 0 0 .................... 11.5 6.5 4.6 7.6 j 6.1 8.2 j 4.4 2.9 | 2.8 21.8 1 18.7 |

14.7 33.9 26 1 2.7 2.9 12.7 12.7

$2,000,000 to $ 5 ,0 0 0 ,0 0 0 .................... 11 2 7 6 5.4 8.9 : 7.8 8.7 ! 4.9 3.6 | 2.8 21.8 17.7 14.9 31.2 ! 26.9 1.3 1.8 15.6 15.1

$5,000,000 to $ 5 0 ,0 0 0 ,0 0 0 .................. 11.2 7.9 6.2 9.9 I 8.5 7.5 I 4.8 5.1 4.8 16.9 i 17.5 ! 15.5 31.2 I 26.3 1.4 j 1.9 17.0 i 17.8

Over $ 5 0 ,0 0 0 ,0 0 0 .................................... 9.5 8.1 5.3 8.7 I 7.8 7.1 ! 2.7 9.3 | 5.7 12.8 i 14.2 j 10.5 2 5 .8 ; 20.6 18.7 13.7

N ot classified2 6.4 22.5

S tate j

i ;

Alabam a....................................................... 10.5 4.1 2.4 5.1 1 2.5 6.2 4.2 1.3 1.2 32.6 i 20.5 14.0 30.9 j 18.5 7.4 12.5 12.9 8.1

Arkansas...................................................... 8.9 i 4.2 i 3.2 5.7 i 5.8 5.0 1 2.4 2.2 ! .9 29.1 24.0 i 13.9 52.6 28.5 3.2 1.2 6.7 5.7

California . . . . 6 1 3.1 1 6 2.7 i 2.8 3.6 i .4 2.9 1.8 13.0 | 12.8 10.8 25.3 19.6 .1 13.2 18.0

Colorado...................................................... 13.8 5.0 3.6 10.1 j 7.8 2.9 2.3 1.1 .8 18.0 | 1 1 8 10.1 28.4 23.4 1.0 | 2.6 1.8 3.0

Connecticut................................................ 8.3 5.0 3.9 7.1 i 6.5 4.5 1.6 1.4 1.5 14.9 ! 15.3 21.2 25 1 35.0 .6 .6 8.3 16.5

Delaware 7.3 7.2 2.9 6.0 ! 3.8 8.6 j 3.2 6.5 : .9 12.1 ; 13.3 10.8 29.5 23.5 7.4 6.8

Florida.......................................................... 6.2 2.6 1.4 3.8 ! 2.4 2.2 | 1.2 2.4 .9 23.9 13.7 8.7 30.6 1 19.0 6.2 1

Georgia......................................................... 7.8 3.5 ! 2.3 4.5 i 2.7 5.3 S.2 1.3 ! 1.3 40.7 | 26.3 i 19.3 35.8 j 25.6 7.0 13.4 20.9 13.5

Idah o............................................................. 7.2 2.7 1.5 5.6 3.7 1.8 .3 1.6 1.2 15.0 7.5 ! 5.2 26.4 1 13.7 .2 I .2 2.2 j 3.6

Illinois........................................................... 10.2 3.1 1.6 5.8 j 3.5 1.5 .4 1.7 1.2 22.7 i 16.0 | 11.8 37.4 I 30.3 A 1 .4 6.9 6.6

Indiana......................................................... 12.1 6.1 3.9 7.7 j 5.4 6.2 2.8 4.0 3.4 18.3 17.6 | 13.3 36.1 | 28.8 1.3 2.0 8.0 ! 8.1

Io w a ............................................................... 4.6 2.4 ! 1.0 3.7 | 1.6 2.2 .7 1.2 .7 17.8 ! 13.0 ! 8.6 31.2 1 21.9 .6 .2 2.4 1.7

K ansas.......................................................... 6.8 ! 3.9 2.3 7.1 4.1 2.5 1.2 1.6 1.4 16.5 10.1 5.8 21.8 12.1 .7 .4 4.5 4.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky...........

Louisiana...........

M a in e ..................

M arylan d...........

M assachusetts.

M ichigan. . ,

Minnesota . .

M ississippi.

M issouri. . .

M ontana. . .

N ebraska..............

N evada3................

New Hampshire3

New Jersey...........

New M exico. . . .

New Y o r k ...........

North Carolina .

North Dakota . .

O hio......................

Oklahom a..........

8 9

10.8

15.0

8 7

9.8

14.4

4.6

7.2

8.8

10.3

9.3

4.0

5.0

11 7

6 4

7.2

7.4 |

2.8

3.0 ;

3 4 i

4.2 |

2.9 1

3.4

2.5

11.5

4.9

5.7

4 7

1 7

1.5

2.9

2.4

1.3

3.7

4.8

12.6

6.2

5.9

8.0

4.1

4.4

5.3

6.4

4.1

2.7

12.3

6.4

5.1

6.3

3.2

2.9

5.0

5.7

1.9

6.3

6.6

17.6

8.1

12.1

8.3 !

2.2 !

2.4 j

2.5 j

4.7 !

2.7 2.2 3.0 27.5 20.1 ! 15.6 33.4 ; 27.4 2.0 3.6 10.6 7.7

2.5 4.1 2.3 33.9 23.8 20.2 40.7 35.4 12.0 18.8 11.3 6.2

14.4 1.9 5.2 27.1 i 21.4 24.4 36.8 40.5 2.5 2.7 10.1 14.0

4.0 3.3 3.4 24.2 ; 21.8 1 16.6 42.0 32.7 1.8 .8 12.5 12.0

8.0 3.4 3.3 12.1 j 17.6 18.0 26.3 27.4 3.3 5.3 15.3 16.5

3.8 5.9 4.3 24.0 14.7 10.1 29.8 19.0 3.8 2.2 11.5 11.8

! .8 1.6 : 1.2 15.7 11.9 7.7 24.2 13.9 .3 .2 10.9 10.2

j .8 1.9 .8 26.8 i 21.0 20.1 40.6 32.9 6.3 23.0 11.4 5.2

i .8 1.7 2.0 17.6 14.3 10.9 28.8 22.4 .9 .8 6.5 5.4

j 1.0 1.7 1.0 18.7 12.7 9.3 31.3 17.3 .8 •9 6.2 9.3

i.4 .8 .6 14.6 9.4 6.3 23.8 15.6 .2 .5 2.0 1.8

10.7 8.5 8.1 16.9 22.0 15.1 35.7 24.8 .9 .3 23.3 18.4

.1 1.4 1.4 23.8 19.4 9.4 44.8 24.7 .3 .3 10.0 3.7

6.3 4.7 5.2 14.4 12.0 10.2 20.8 18.3 .1 .3 11.5 10.9

.2 1.7 1.1 23.3 12.8 7.7 33.1 16.9 .6 .2 4.7 5.9

4.0 10.1 7.9 23.3 25.6 ! 17.5 39.9 ! 27.0 4.0 2.1 18.8 18.1

1.8 4.0 3.2 32.7 : 27.3 | 19.4 46.6 31.7 2.1 2.2 18.6 20.8

1.0 1.3 .9 12.0 ! 8.2 ; 5.1 22.5 12.4 3.2 3.5 2.1 1.4

.5 • 5 22.3 ; 20.5 14.1 47.8 ! 33.8 1.5 .8 6.0 8.4

| 8.5 6.1 4.7 19.5 22.0 20.9 33.6 | 27.5 2.5 2.8 31.1 37.6

2.5 1.2 1.2 13.3 6.7 4.3 14.0 6.0 .3 .7 5.2 5.2

1.5 3.6 2.8 20.5 18.3 13.0 32.0 | 20.6 1.7 ! *2 16.2 15.8

! 4.3 5.0 3.9 36.4 30.6 22.9 43.9 ! 36.2 16.2 12.0 16.3 10.4

2.3 1.6 1.8 25.7 19.4 13.8 41.6 ! 29.0 1.5 .7 7.5 7.2

.8 3.7 2.6 22.6 15.5 12.2 27.3 1 23.2 3.9 4.0 18.5 9.8

i 17.5 11.0 ; 14.5 15.2 26.8 30.1 41.9 ! 47.5 .6 ! 1.1 24.8 28.9

3.2 3.3 2.0 31.4 ; 24.7 18.3 36.7 25.2 3.5 ; 5.3 11.1 13.6

1.5 1.7 1.3 13.3 12.0 I 9.6 34.8 1 22.9 .2 1.5 1.4 4.5

5.1 5.9 5.7 32.7 26.8 19.7 39.9 33.2 8.0 7.5 17.5 9.8

3.9 2.8 1.8 24.5 22.9 15.4 43.6 32.6 1.7 1.6 14.6 14.1

1.9 2.0 1.9 21.6 1 16.4 18.1 31.3 39.3 .5 .3 4.3 3.2

Oregon ................

Pennsylvania. .

Rhode Island3 .

South Carolina.

South D a k ota. .

Tennessee.

T exas. . . .

U ta h ...........

Verm ont. .

Virginia.. .

W ashington. .

W est Virginia.

W isconsin. . . .

W y om in g. . . .

18.7

12.9

12.7

6.0

15.0

9.4

5.4

7.7

11.9

15.7

2.9

9.4

2.3

16.1

5.3

2.2

2.7

9.1

12.7

1.8

7.3

1.2

11.6

3.9

1.3

2.1

7.2

19.5

6.3

10.9

4.3

23.5

7.3

4.5

6.3

8.2

17.7

4.0

9.4

2.4

19.3

6.0

2.3

6.1

7.6

15.6

.6

10.2

.9

9.2

3.0

1.4

.5

12.2

6 8

10.7

6.2

6.1

11.6

21.1

8.0

6.6

12.0

10.5

10.2

1.6

9.0

6.1

4.6 !

5.2

15.7

5.6

3.5

9.5

7.6

5.8

1.6

5.3

4.8

3.8

1.7

15.6

3.9

1.7

7.6

4.2

3.5

1.0

16.3

6.1

8.8

7.4

12.6

6.1

4.0

11.6

8.3

9.7

1.5

10.1

5.7

7.0

2.2

14.8

5.0

2.1

10.2

6.4

5.6

3.2

5.0

8.4

2.8

4.0

23.7

6.9

4.5

8.9

10.4

2.8

1Deposits as of December 31, 1935.

2Includes chiefly banks reorganized subsequent to latest examination.

3Figures included in totals for the United States.

ZDCOEXAMINERS’ ANALYSES OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATES

Table 132. CAPITAL R a t i o s OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM, 5

E x a m in a t io n s O c t o b e r 1 ,1 9 3 3 , to D e c e m b e r 3 1 ,1 9 3 5 ^

(Ratios in percent)

Ratio of net sound capital to—

Number of banks Net sound assets Total deposits Total capital account

1933 1934 1935 1933 1934 1935 1933 1934 1935 1933 1934 1935

U nited States— t o t a l............................. 7,456 7,682 7,734 9.6 13.5 14.0 11.2 15.8 16.6 45.1 67.2 76.5

B anks w ith deposits of— 1

$100,000 and under........................... 1,837 1,241 9,30 22.8 25.2 24.7 31.8 34.5 33.5 69.0 80.6 83.8

$100,000 to $2 5 0 ,0 0 0 ....................... 2,601 2,592 2,469 14.0 18.2 17.7 17.2 22.5 21.9 60.1 81.1 87.5

$250,000 to $50 0 ,0 0 0 ....................... 1,405 1,771 1,959 10.4 15.1 15.1 12.2 17.9 17.9 52.1 77.3 86.4

$500,000 to $ 750 ,00 0....................... 537 659 778 9.3 13.7 14.4 10.8 16.1 17.2 43.1 73.9 84.3

$750,000 to $1,000,000.................... 313 392 446 7.4 12.2 12.7 8.6 14.1 14.7 37.6 65.6 80.7

$1,000,000 to $ 2 ,0 0 0 ,0 0 0 ............... 445 595 671 7.9 13.1 13.9 9.2 15.4 16.4 37.7 67.3 77.2

$2,000,000 to $ 5 ,0 0 0 ,0 0 0 ............... 216 261 322 9.3 12.7 13.1 10.6 14.8 15.4 42.3 62.7 71.8

$5,000,000 to $50,0 0 0 ,0 0 0 ............ 95 116 128 10.0 13.0 13.5 11.5 15.1 16.1 44.0 61.5 69.4

Over $50,000 $1,000,000.................

N ot classified2......................................

7 4

51

4

27

2.6 6.2

13.0

i

10.2

23.7

2.6 6.6

17.9

11.5

31.7

19.6 43.9

51.5

66.2

77.5

State

Alabam a.................................................

Arizona3..................................................

117

3

120

3

120

5

18.4 21.5 19.6 23.9 28.1 25.3 61.2 84.9 90.6

Arkansas................................................. 153 155 156 14.5 18.8 17.2 18.2 23.5 20.9 59.7 83.0 85.3

California............................................... 108 108 106 5.5 9.7 12.7 5.9 10.7 14.7 45.8 80.7 92.6

Colorado................................................. 57 58 55 4.7 11.4 10.9 5.1 12.8 12.2 22.6 72.4 78.7

Connecticut.......................................... 47 49 45 9.3 12.7 12.6 10.7 14.8 14.6 50.7 69.9 77.2

Delaware.................................................

District of Columbia3.......................

24

11

24

11

24

11

12.3 16.8 16.4 14.3 19.8 19.8 60.8 77.9 87.4

Florida..................................................... 90 92 94 16.9 15.9 15.5 21.0 19.0 18.5 71.9 88.7 96.5

Georgia.................................................... 175 177 176 18.1 20.8 19.0 24.0 28.0 24.9 68.2 86.5 90.5

Idaho........................................................ 28 25 24 12.6 12.4 11.9 14.7 14.0 13.6 62.0 85.2 92.5

Illinois...................................................... 503 507 500 14.8 16.0 15.3 18.1 19.0 18.2 56.5 88.1 95.9

Indiana.................................................... 354 362 367 5.7 11.6 11.5 6.5 13.3 13.5 29.2 64.8 75.5

Iow a.......................................................... 376 427 438 10.9 12.1 11.0 12.7 13.7 12.4 69.4 88.8 95.1

K ansas..................................................... 214 225 254 11.3 12.6 12.7 12.8 14.4 14.6 60.9 79.2 90.7

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
K entucky............................................... 282 284

Louisiana............................................... 113 113

M a in e...................................................... 19 20

M aryland............................................... 105 114

M assachusetts..................................... 40 40

Michigan................................................. 222 262

Minnesota.............................................. 421 423

Mississippi............................................. 177 174

M issouri.................................................. 496 498

M ontana................................................. 52 52

Nebraska................................................ 223 232

Nevada3.................................................. 3 3

New Hampshire3 ............................... 4 4

New Jersey............................................ 99 102

New M exico......................................... 13 14

New York.............................................. 195 193

North Carolina................................... 174 183

North D akota...................................... 126 125

Ohio.......................................................... 337 356

Oklahoma.............................................. 165 176

Oregon..................................................... 42 43

Pennsylvania....................................... 267 296

Rhode Island3...................................... 2 2

South Carolina.................................... 62 74

South D akota....................................... 125 125

Tennessee............................................... 237 239

T exas........................................................ 303 307

U tah.......................................................... 26 26

Verm ont................................................. 30 33

Virginia................................................... 162 163

W ashington.......................................... 94 93

W est Virginia....................................... 71 72

W isconsin............................................... 481 483

W yom in g............................................... 28 26

283

114

16

111

40

274

429

171

508

52

230

3

3

100

14

190

182

126

369

172

43

298

2

88

123

238

299

27

33

166

88

72

470

25

1 Deposits as of December 31, 1935.

2 Includes chiefly banks reorganized subsequent to latest examination.

8 Figures included in totals for the United States.

13.1 16.2 15.0 16.2 19.6 17.8 57.4 80.7 83.8

11.2 19.1 18.0 14.0 24.2 22.2 48.2 79.1 89.5

1.2 3.2 10.5 1.3 3.3 11.7 7.6 21.8 45.1

12.1 14.9 14.7 14.4 17.8 17.6 56.0 70.4 78.7

7.6 11.6 12.5 8.7 13.2 14.5 41.4 62.2 70.6

1.4 9.8 9.9 1.5 11.0 11.5 7.9 58.3 67.7

9.5 11.9 11.9 10.5 13.4 13.6 66.1 87.8 96.0

8.1 14.7 14.2 9.4 17.7 16.9 51.2 83.7 92.9

10.3 13.2 11.8 11.6 15.4 13.6 51.6 81.8 85.1

12.2 15.1 14.7 14.1 17.8 17.2 51.5 81.0 89.0

11.6 14.2 13.8 13.2 16.4 16.1 53.2 89.0 95.6

5.4 5.1 7.9 6.0 5.7 8.8 19.0 22.3 35.9

.9 9.2 8.8 .9 10.2 9.7 5.8 75.8 87.3

8.7 14.8 14.9 9.9 17.7 18.2 37.6 61.5 68.4

11.6 14.8 15.6 13.9 17.9 19.2 64.5 88.9 99.4

6.7 10.9 13.6 7.7 12.3 15.9 27.6 37.9 53.5

7.3 15.2 14.9 8.3 18.0 17.7 41.4 74.3 80.7

9.7 11.6 11.7 10.8 13.2 13.3 62.8 85.3 94.5

7.0 13.2 11.0 7.7 15.1 12.3 45.9 92.9 93.0

17.0 18.0 18.8 22.1 23.2 24.1 55.7 64.5 72.7

7.5 9.9 10.8 8.4 11.0 12.2 50.6 88.0 91.4

10.2 12.9 15.7 12.1 15.0 18.6 46.1 57.0 75.2

13.0 12.6 11.7 16.5 14.7 13.4 66.4 66.2 70.8

14.1 18.8 18.4 16.6 23.4 22.8 68.5 80.2 83.6

8.3 13.9 14.5 9.3 16.3 17.2 38.7 75.7 96.3

13.6 10.4 15.5 13.6 12.0 18.6 104.1 35.8 46.3

13.9 16.7 15.7 17.7 20.6 19.8 61.3 76.1 80.8

14.0 17.1 15.3 17.0 20.3 18.2 66.3 88.1 95.7

9.3 13.5 13.8 11.5 15.9 16.2 40.6 56.0 63.5

5.4 11.8 13.0 6.1 13.6 15.1 31.5 60.1 76.9

7.9 12.1 11.3 8.8 13.7 12.8 41.2 68.1 79.2

<r>

cne x a m in e r s ’ analyses of insured b a n k s

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

CAPITAL INVESTMENT OF THE RECONSTRUCTION

FINANCE CORPORATION

T a b le 133. CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE

C o r p o r a t i o n i n O p e r a t i n g I n s u r e d C o m m e r c i a l B a n k s , D e c e m b e r 31, 19351

BY CLASS OF BANK IN EACH STATE

(Amounts in thousands of dollars)

All banks

Banks members F. R. System

Banks not

members

F. R . System National State

No. of

banks

Amount No. of

banks

Amount No. of

banks Amount No. of

banks

Amount

U nited States— t o t a l . .. 25,675 2867,542 1,952 471,623 327 183,763 23,396 2212,156

State

Alabam a........................ 62 11,027 22 8,103 4 1,839 36 1,085

3 1,390 2 1,340 1 50

Arkansas........................ 110 4,231 22 1,425 5 715 83 2,091

California...................... 112 47,938 58 19,720 5 15,446 49 12,772

Colorado........................ 56 4,876 32 4,101 1 200 23 575

39 7,167 16 3,703 23 3,464

11 360 4 137 7 223

7 2,600 2 1,100 5 1,500

Florida............................ 39 1,995 13 1,303 1 100 25 592

Georgia........................... 76 4,325 16 1,515 6 1,135 54 1,675

Idaho............................... 24 1,625 9 635 4 775 11 215

Illinois............................. 204 79,361 119 72,810 13 2,350 72 4,201

Indiana........................... 270 15,949 50 6,888 4 1,230 216 7,831

Iow a................................ 133 9,853 45 6,298 4 1,070 84 2,485

K ansas............................ 191 5,074 46 2,266 6 173 139 2,635

K entucky...................... 110 8,406 28 3,182 2 1,500 80 3,724

Louisiana....................... 103 10,698 14 4,340 3 1,775 86 4,583

M ain e.............................. 24 7,531 12 2,456 2 2,150 10 2,925

M aryland...................... 65 8,987 13 2,637 4 2,300 48 4,050

Massachusetts............. 61 15,237 38 9,496 7 3,166 16 2,575

M ichigan....................... 176 36,955 50 18,113 30 10,071 96 8,771

M innesota..................... 230 15,803 91 12,500 4 53 135 3,250

Mississippi.................... 142 8,570 15 2,647 127 5,923

M issouri......................... 203 10,894 29 4,142 19 3,171 155 3,581

M ontana........................ 49 2,986 16 1,069 8 1,253 25 664

Nebraska....................... 143 7,069 48 5,098 1 66 94 1,905

N evad a........................... 4 205 3 175 1 30

New Hampshire.......... 9 602 8 502 1 100

New Jersey................... 204 68,591 135 29,190 25 18,964 44 20,437

New M exico................. 18 666 6 401 2 33 10 232

New Y o rk..................... 431 220,775 236 128,125 56 65,800 139 26,850

North Carolina........... 123 7,215 18 1,768 3 1,700 102 3,747

North D akota............. 124 3,571 29 2,022 95 1,549

O hio................................. 344 69,792 81 22,840 26

to0°

VO00

237 18,754

Oklahoma...................... 46 9,099 40 9,039 6 60

Oregon............................ 49 1,694 18 703 2 38 29 953

Pennsylvania............... 274 44,055 192 19,545 15 9,550 67 14,960

Rhode Island............... 4 899 3 649 1 250

South Carolina............ 33 2,193 6 1,505 27 688

South D akota............. 114 3,789 30 2,754 3 55 81 980

Tennessee...................... 118 11,607 27 8,040 2 225 89 3,342

T exas............................... 366 29,023 140 22,021 17 445 209 6,557

U ta h................................ 37 3,090 8 1,250 11 1,340 18 500

Verm ont......................... 42 7,708 9 498 33 7,210

Virginia.......................... 129 9,597 34 3,055 4 2,150 91 4,392

W ashington.................. 88 5,478 23 2,609 15 1,713 50 1,156

W est Virginia............... 80 5,356 32 2,604 4 616 44 2,136

W isconsin...................... 373 30,337 55 14,656 7 2,343 311 13,338

W yom ing....................... 21 1,293 9 6 1 3 2 55 10 590

1 Data concerning banks members of the Federal Reserve System were obtained from the Report of

the Reconstruction Finance Corporation for the Fourth Quarter of 1935.

2 Includes one Alaska national bank not a member of the Federal Reserve System with RFC capital investment of $38,000.

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CAPITAL INVESTMENT RECONSTRUCTION FINANCE CORPORATION 197

T a b le 134. RECONSTRUCTION FINANCE CORPORATION CAPITAL DISBURSEMENTS

a n d R e t i r e m e n t s D u r i n g 1935, I n s u r e d C o m m e r c i a l B a n k s N o t

M e m b e r s o f t h e F e d e r a l R e s e r v e S y s te m

BY STATES

R FC

capital

outstanding

December

31, 1934

Disbursements

Retirements Other

deductions1

R FC

capital

outstanding

December

31, 1935

U nited States— tota l.

State

California.

Colorado. .

Connecticut.

District of Colum bia.

Florida............................

Georgia...........................

Idaho

Illinois.

Iow a.

K entucky.

Louisiana.

M aine. . .

M aryland.

M ichigan. .

Minnesota .

Mississippi.

Missouri. . .

Nebraska.............

N evada.................

New Hampshire.

New Jersey...........

New M exico. . . .

New Y o rk...........

North Carolina.

North D akota. .

O hio.......................

Oklahom a............

Oregon . . .... .

Pennsylvania. .

Rhode Island. .

South Carolina.

South D akota. .

W ashington. . ,

West Virginia.

Wisconsin. . . .

W yom ing. . . .

$206,191,526

1,339,675

50.000

2.044.000

12,927,500

560.000

3,468,700

375.000

1.800.000

596.000

1.798.000

205.000

4.106.000

7.036.000

2.500.500

2.456.500

3.596.500

4.831.000

1.633.000

3.345.000

2.575.000

8,268,776

3.322.000

6.145.500

3.308.500

684,500

1,954,200

30.000

14,558,175

177,500

31,305,000

3,650,850

1,569,000

19,396,500

957.000

11.479.000

250.000

1,140,800

1.256.000

3,306,600

6.975.000

775.000

7.060.000

4,271,250

1.213.000

1.971.000

13.338.000

585.000

$20,395,200

15,000

75.000

175,000

15.000

20,000

10,000

155.000

1.142.500

145.000

282,500

230.000

70,000

1.292.500

905.000

920,900

183.500

10,000

506.500

30,000

96,300

100,000

6,078,500

70.000

610,000

193,500

25.000

485,000

60.000

25,000

3,881,000

90.000

45.000

140.000

122,500

30.000

150.000

230.000

5.000

190.000

1,580,000

5.000

$11,286,650

205,000

27,500

180,500

5,000

152.000

300.000

24,000

47,500

50,000

297.500

122,650

51,500

102.500

292.500

119.500

255.000

208.000

206.500

50.000

50.000

4,915,000

67,500

35,000

916,000

21,000

200,000

43,500

315,500

5,000

450.000

275.000

99.000

62.000

25,000

1,110,000

$3,143,596

65,000

150,000

75,500

10,000

50,000

37.500

52.500

25,000

'200,000’

299,596

’ 25,000

27,500

95,000

200,000

15.000

150,000

30.000

10.000

212,500

7,500

200,000

500.000

6,000

100.000

90.000

30.000

10,000

470,000

$212,156,4

1,084,675

50.000

2.091.500

12.772.000

575.000

3,463,700

223.000

1.500.000

592.000

1.675.000

215.000

4.201.000

7.831.000

2,485,350

2.635.000

3.724.000

4.583.500

2.925.500

4.050.000

2.575.000

8,770,580

3.250.500

5.922.500

3.581.000

664.500

1.905.500

30.000

100.000

20,436,675

232.500

26.850.000

3,746,850

1.549.000

18.753.000

60.000

953.500

14.960.000

250.000

687,300

979.500

3,341,600

6.557.500

500.000

7.210.000

4,392,250

1.156.000

2.136.000

13.338.000

590.000

1 Due to changes in charter jurisdiction, insured status, etc.

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EARNINGS OF INSURED COMMERCIAL BANKS

Table 135. E a r n in g s, EXPENSES, AND DISPOSITION OF PROFITS OF OPERATING INSURED COMMERCIAL BANKS, CALENDAR YEARS

1934 AND 1935

BY CLASS OF BANK

All insured banks

Banks members !F. R. System Banks not members F. R. System1

State

1935

1934 Operating

less than

full year or

affected by

mergers, etc.

1934 1935

1934

!

| 1935

l

1934 1935

Total

Operating

throughout

entire year

Number of banks............................................................... 14,124 14,110 5,462 5,386 980 1,001 7,682 7,723 7,508 215

E arnings fro m cu rrent op eration s: !

Interest and discount on loans................................ i 689,143 j 641,737 362,740

<

339,272

In thousand

177,274

Is of dollars)

159,146

I

149,129 143,319 141,541 1,778

Interest and dividends on securities......................| 549,504 547,108 314,217 315,726 159,574 151,488 75,713 79,894 79,077 817

Exchange and collection charges, commissions,:

fees, etc............................................................................ i 41,051 44,023 18,350 20,292 9,460 8,538 13,241 15,193 14,898 295

Foreign departm ent....................................................... j 18,494 12,691 10,750

25,545

6,887 7,225 5,394 519 410 407 3

Trust departm ent........................................................... j 77,956 84,867 28,540 45,449 49,170 6,962 7,157 7,101 56

Service charges on deposit accounts...................... 34,502 45,645 19,284 24,887 8,335 10,750 6,883 10,008 9,870 138

Other current earnings................................................. 104,958 106,930 55,896 56,633

792,237

29,774 29,937 19,288 20,360 20,069 291

T o ta l earnings fro m cu rren t operations 1,515,608 1,483,001 806,782 437,091 414,423 271,735 276,341 272,963 3,378

Expenses of cu rren t o p eration s: i

Salaries and w ages.......................................................... 401,222 410,084 206,015

173,769

211,242 121,409 123,222 73,798 75,620 74,454 1,166

Interest on deposits..................................................... 323,029 276,998 150,949 69,594 57,537 79,666 68,512 67,821 691

Interest and discount on borrowed money .... 7,319 2,642 1,577 429 2,060 802 3,682 1,411 1,399 12

Taxes...................................................................................... 76,834 79,047 42,293 42,628 19,985 21,051 14,556 15,368 15,192 176

Other current expenses................................................. 258,829 272,104 132,567 142,528 80,120 82,141 46,142 47,435 46,606 829

T o ta l cu rrent ex p en ses...................................... 1,067,233 1,040,875 556,221 547,776 293,168 284,753 217,844 208,346 205,472 2,874

N et earn ings fr o m cu rren t o p e r a tio n s ............. 448,375 442,126 250,561 244,461 143,923 129,670 53,891 67,995 67,491 504

R ecoveries, profits on secu rities sold, etc.

Recoveries on loans........................................................ 52,770 81,675 31,999 47,327 12,390 24,583 8,381 9,765 9,473 292

Recoveries on securities and profits on securities

sold.................................................................................... 206,120 315,937 119,589 180,441 66,002 96,599 20,529 38,897 38,281 616

All other............................................................................... 32,755 34,445 15,224 12,309 8,755 14,766 8,776 7,370 7,040 330

T o ta l recoveries, profits on securities

sold, e tc ..................................................................... 291,645 432,057 166,812 240,077 87,147 135,948 37,686 56,032 54,794 1,238

N et earnings and recoveries..................................... 740,020 874,183 417,373 484,538 231,070 265,618 91,577 124,027 122,285 1,742

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
L osses an d d e p reciation :

On loans...............................................................................

On securities.......................................................................

On banking house, furniture and fixtures..........

Other losses and depreciation...................................

T o ta l losses an d d e p re c ia tio n.......................

551,644

391,266

47,710

88,619

1,079,239

318,271

239,053

39,815

70,125

667,264

299,085

206,332

29,414

36,531

571,362

159,978

116,182

23,329

26,950

326,439

152,697

114,164

10,008

24,713

301,582

92,396

82,608

10,264

26,568

211,836

99,862

70,770

8,288

27,375

206,295

65,897

40,263

6,222

16,607

128,989

64,956

39,627

5,857

15,972

126,412

941

636

365

635

2,577

N e t a d d itio n to profits fo r cu rren t period. .. 339,219 206,919 153,989 158,099 70,512 53,782 114,718 4,962 4,127 835

C ash dividends declared .......................................... 187,595 207,317 91,698 112,918 81,968 73,926 13,929 20,473 20,317 156

N e t a d d ition to profits a fter cash dividends. 526,814 398 245,687 45,181 152,480 20,144 128,647 25,435 24,444 991

1Excludes 2 national banks in Alaska, 1 bank in Hawaii, 11 banks in the D istrict of Colum bia, and 1 other bank. 

N O T E : Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS

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T a b le 136. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS, CALENDAR YEAR 1935

BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS

to

O

o

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

E arnings fr o m cu rren t op eration s:

Interest and discount on loans................................

Interest and dividends on securities......................

Collection charges, commissions, fees, etc..........

Foreign departm ent.......................................................

Trust departm ent...........................................................

Service charges on deposit accounts......................

Other current earnings.................................................

T o ta l earnings fro m cu rren t operations

Expenses of cu rrent op erations:

Salaries and wages..........................................................

Interest on deposits........................................................

Interest and discount on borrowed m oney. . . .

Taxes......................................................................................

Other current expenses.................................................

T o ta l cu rren t expenses.......................................

N et earn ings fro m cu rren t o p e r a tio n s ..........

R ecoveries, profits on securities sold, e tc:

On loans...............................................................................

On securities.......................................................................

All other..............................................................................

T o ta l recoveries, profits on securities

sold, e tc ................................................................

N et earnings and recoveries................................

Losses and depreciation:

On loans..........................................................................

On securities..................................................................

On banking house, furniture and fixtures . . .

Other losses and depreciation..............................

T o ta l losses and d e p re cia tio n..................

All

banks

8,487

299,943

229,858

23,114

5,801

54,731

20,569

49,895

683,911

196,239

125,000

2,201

36,107

128,138

487,685

196,226

34,006

134,588

21,785

190,379

386,605

156,766

121,926

15,978

42,337

337,007

Banks with deposits on December 31, 1935 of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

909 2,504 2,077 883 503 803 475 285 48

3,165

492

646

1

41

173

211

4,729

1,693

547

42

332

1,062

3,676

1,053

226

172

86

484

1,537

883

143

165

194

1,385

(In thousands of dollars)

15,124

4,703

2,617

3

52

980

1,029

24,508

7,811

4,281

92

1,420

•4,734

18,338

6,170

1,208

1,977

399

3,584

9,754

4,171

1,294

786

859

7,110

22,099

9,033

3,254

12

65

1,579

1,831

37,873

10.962

8,013

117

2,049

6,821

27.962

9,911

1,607

4,029

666

6,302

16,213

5,842

2,682

1,086

1,499

11,109

15,152

7,304

1,805

65

118

1,108

1,478

27,030

7,339

6,281

95

1,410

4,710

19,835

7,195

976

3,165

486

4,627

11,822

4,543

2,816

704

934

8,997

11,178

6,253

1,101

115

901

1,127

20,675

5,442

5,342

95

1,072

3,295

15,246

5,429

779

2,844

327

3,950

9,379

3,766

2,555

480

779

7,580

28,121

16,870

2,097

25

815

2,334

3,387

53,649

14,179

13,923

232

2,837

8,733

39,904

13,745

1,769

8,050

1,046

10,865

24,610

9,932

7,845

1,277

2,986

22,040

34,199

21,756

2,437

143

2,099

2,938

4,620

68,192

17,317

17,403

671

3,471

11,576

50,438

17,754

2,020

10,429

1,487

13,936

31,690

14,666

10,939

1,629

3,693

30,927

70,134

52,062

4,490

421

11,767

5,331

17,476

161,681

45,525

35,681

836

8,995

30,352

121,389

40,292

6,171

28,673

7,138

41,982

82,274

43,326

32,738

3,647

13,811

93,522

100,771

111,385

4,667

5,131

39,659

5,225

18,736

285,574

85,971

33,529

21

14,521

56,855

190,897

94,677

19,250

75,249

10,150

104,649

199,326

69,637

60,914

6,204

17,582

154,337

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
N et ad d itio n to profits fo r cu rren t period. ..

C ash dividends d e c la r e d .............................................

49,598

93,838

152

256

2,644

1,656

5,104

2,647

2,825

1,895

1,799

1,408

2,570

3,880

763

5,066

11,248

15,067

44,989

61,963

N et ad dition to profits after cash dividends.

Number of officers................................................................

44,240 104 988 2,457 930 391 1,310 4,303 26,315 16,974

27,558

80,362

1,460

498

5,269

2,249

5,309

3,614

2,621

2,632

1,622

1,976

3,018

5,418

2,267

7,299

3,176

20,415

2,816

36,261Number of em ployees........................................................

N O T E : Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS 201

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T a b le 137. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL STATE BANKS, CALENDAR YEAR 1935

B A N K S O PER ATIN G THROUGHOUT EN TIRE Y E A R GROUPED B Y AM OUNT OF DEPOSITS

All

Banks with deposits on December 31, 1935 of—

banks

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

Number of banks.................................................................. 8,487 909 2,504 2,077 883 503 803 475 285 48

A m o u n ts per $100 of to ta l earnings

Earnings fr o m cu rren t op eratio n s:

Interest and discount on loans................................

Interest and dividends on securities......................

Exchange and collection charges.............................

Trust departm ent...........................................................

Service charges on deposit accounts......................

Other earnings..................................................................

T o ta l earnings fr o m cu rren t op erations

$43.86

33.61

3.38

8.00

3.01

8.14

100.00

$66.93

10.40

13.66

.87

3.66

4.48

100.00

$61.71

19.19

10.68

.21

4.00

4.21

100.00

$58.35

23.85

8.59

.17

4.17

4.87

100.00

$56.05

27.02

6.68

.44

4.10

5.71

100.00

$54.06

30.24

5.33

.56

4.36

5.45

100.00

$52.42

31.44

3.91

1.52

4.35

6.36

100.00

$50.15

31.91

3.57

3.08

4.31

6.98

100.00

$43.38

32.20

2.78

7.27

3.30

11.07

100.00

$35.29

39.00

1.63

13.89

1.83

8.36

100.00

Expenses of cu rren t op era tio n s:

Salaries and w ages..........................................................

Interest on deposits......................................................

T axes......................................................................................

Other expenses..................................................................

T o ta l cu rrent expenses.......................................

$28.69

18.28

5.28

19.06

71.31

$35.80

11.57

7.02

23.34

77.73

$31.87

17.47

5.79

19.69

74.82

$28.94

21.16

5.41

18.32

73.83

$27.15

23.24

5.22

17.77

73.38

$26.32

25.84

5.18

16.40

73.74

$26.43

25.95

5.29

16.71

74.38

$25.39

25.52

5.09

17.96

73.96

$28.16

22.07

5.56

19.29

75.08

$30.10

11.74

5.09

19.92

66.85

N et earnings fro m cu rrent o p e ra tio n s............. $28.69 $22.27 $25.18 $26.17 $26.62 $26.26 $25.62 $26.04 $24.92 $33.15

A m o u n ts per $100 of tota l assets

Total earnings from current operations....................

Total current expenses......................................................

$ 3.11

2.22

$ 5.62

4.37

$ 4.89

3.66

$ 4.58

3.38

$ 4.39

3.22

$ 4.23

3.12

$ 4.20

3.12

$ 4.14

3.06

$ 3.77

2.83

$ 2.33

1.56

N et earnings fro m cu rrent o p e ra tio n s.............

Recoveries, profits on securities, etc...........................

$ .89

.87

$ 1.25

.58

$ 1.23

.72

$ 1.20

.76

$ 1.17

.75

$ 1.11

.81

$ 1.08

.84

$ 1.08

.85

$ .94

.98

$ .77

.86

N et earnings and recoveries.....................................

Losses and depreciation on assets................................

$ 1.76

1.53

$ 1.83

1.65

$ 1.95

1.42

$ 1.96

1.34

$ 1.92

1.46

$ 1.92

1.55

$ 1.92

1.72

$ 1.93

1.88

$ 1.92

2.18

$ 1.63

1.26

N et ad dition to profits for cu rren t period. ..

Cash dividends declared...................................................

$ .23

.43

$ .18

.30

$ .53

.33

$ .62

.32

$ .46

.31

$ .37

.29

$ .20

.30

$ .05

.31

$ .26

.35

$ .37

.51

N et ad dition to profits after cash dividends. $ .20 $ .12 $ .20 $ .30 $ 15 $ .08 $ .10 $ .26 $ .61 $ .14

202 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
A m o u n ts per $100 of to ta l cap ital accou n t

N et earnings from current operations......................

Recoveries, profits on securities, etc...........................

$ 6.41

6.22

$ 4.50

2.07

$ 6.27

3.65

$ 7.24

4.61

$ 7.36

4.74

$ 7.44

5.42

$ 6.72

5.31

$ 6.79

5.33

$ 6.37

6.64

$ 6.17

6.82

N et earn ings and reco v eries..................................... $12.63

11.01

$ 6.57

5.92

$ 9.92

7.23

$11.85

8.12

$12.10

9.21

$12.86

10.39

$12.03

10.77

$12.12

11.83

$13.01

14.79

$12.99

Losses and depreciation on assets................................ 10.06

N et a d d ition to profits for cu rren t period. .

Cash dividends declared...................................................

$ 1.62

3.06

$ .65

1.09

$ 2.69

1.68

$ 3.73

1.93

$ 2.89

1.94

$ 2.47

1.93

$ 1.26

1.90

$ .29

1.94

$ 1.78

2.38

$ 2.93

4.04

N et ad d itio n to profits a fter cash dividends. $ 1.44 $ .44 $ 1.01 $ 1.80 $ .95 $ .54 $ .64 $ 1.65 $ 4.16 $ 1.11

N O T E : Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS 203

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T ab le 138. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS

R e p o r t in g N e t E a r n in g s F r o m C u r r e n t O p e r a t io n s, C a l e n d a r Y e a r 1935

BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS

All

banks

Banks with deposits on December 31, 1935 of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

Over

$5,000,000

Number of banks......................................................................................... 8,080 807 2,381 1,993 851 485 772 464 327

Earnings fro m cu rrent op erations:

Interest and discount on loans.........................................................

Interest and dividends on securities..............................................

Collection charges, commissions, fees, etc..................................

Foreign departm ent...............................................................................

Trust department...................................................................................

Service charges on deposit accounts..............................................

Other current earnings.........................................................................

T o ta l earnings fro m cu rrent o p e r a tio n s ......................

Expenses of cu rrent op eration s:

Salaries and wages..................................................................................

Interest on deposits................................................................................

Interest and discount on borrowed m oney................................

Taxes..............................................................................................................

Other current expenses.........................................................................

T o ta l cu rrent expenses...............................................................

294,239

226,743

22,635

5,769

54,350

19,989

48,489

672,214

2,923

452

586

1

41

160

197

4,360

14,546

4,521

2,512

3

52

942

967

23,543

(In tho

21,489

8,695

3,170

12

46

1,527

1,745

36,684

usands of d<

14,797

7,059

1,741

63

118

1,061

1,406

26,245

)llars)

10,818

6,084

1,056

111

869

1,034

19,972

27,404

16,170

2,058

12

780

2,249

3,177

51,850

33,669

21,323

2,401

135

2,055

2,883

4,524

66,990

168,593

162,439

9,111

5,543

51,147

10,298

35,439

442,570

191,915

121,620

2,007

34,934

124,535

475,011

1,500

483

37

296

940

3,256

7,365

4,054

79

1,334

4,451

17,283

10,467

7,652

98

1,964

6,459

26,640

6,985

6,057

81

1,346

4,496

18,965

5,182

5,141

77

991

3,099

14,490

13,501

13,402

133

2,667

8,201

37,904

16,790

16,975

648

3,391

11,309

49,113

130,125

67,856

854

22,945

85,580

307,360

N et earnings fro m cu rrent o p e ra tio n s..................................... 197,203 1,104 6,260 10,044 7,280 5,482 13,946 17,877 135,210

Recoveries, profits on securities sold, etc:

On loans.......................................................................................................

On securities..............................................................................................

All other.......................................................................................................

T o ta l recoveries, profits on securities

sold, e tc .............................................................................................

33,355

132,758

21,272

187,385

201

143

67

411

1,121

1,849

341

3,311

1,533

3,780

613

5,926

939

2,908

445

4,292

732

2,738

298

3,768

1,611

7,592

955

10,158

1,997

10,163

1,475

13,635

25,221

103,585

17,078

145,884

N et earnings and recoveries............................................................. 384,588 1,515 9,571 15,970 11,572 9,250 24,104 31,512 281,094

Losses and depreciation :

On loans.......................................................................................................

On securities..............................................................................................

On banking house, furniture and fixtures..................................

Other losses and depreciation...........................................................

T o ta l losses an d d e p re cia tio n ...............................................

148,148

117,274

15,687

38,827

319,936

792

137

148

174

1,251

3,859

1,251

733

775

6,618

5,579

2,552

990

1,420

10,541

4,212

2,581

672

876

8,341

3,565

2,460

474

712

7,211

8,818

7,683

1,226

2,144

19,871

14,365

10,014

1,626

3,511

29,516

106,958

90,596

9,818

29,215

236,587

204 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N et a d d itio n to profits fo r cu rren t period. .

C ash dividends d e c la re d ..................................................~

N et ad d itio n to profits a fter cash dividends. ....................

Number of officers.......................................

Number of employees........................... " ’ * * ’ ‘ ’ ' '

N O T E : Italics indicate deficit or de4.u.cti.O.», from profits.

64,652

93,6 3 'j

264

247

2,953

1,629

5,429

2,608

3,231

1,871

2,039

1,392

4,233

3,820

1,996 !

5,041

i 44,507

77,030

28,9 86 17 1,324 2*821 1,360 647 413 3,045 32,523

26 ,483

i,618

1,286

450

4,a§3

2,134

5,098

3,450

2,519

2,515

1,555

1,878

2,911

5,120

2*214

7,034

5,905

56,037

EARNINGS OF INSURED COMMERCIAL BANKS 205

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Federal Reserve Bank of St. Louis
B A N K S O PER ATIN G THROUGHOUT EN TIR E YE A R GROUPED B Y AM OUNT OF DEPOSITS

Table 139. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS

R e p o r t in g N e t L o sse s F r o m C u r r e n t O p e r a t io n s, C a l e n d a r Y e a r 1935

Banks with deposits on December 31, 1935 of—

banks $100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

Over

$5,000,000

407 102 123 84 32 18 31 11 6

E arnings fro m cu rren t op era tion s:

5,704 242 578

(In the

610

>usands of d<

355

ollars)

360 717 530 2,312

3,115

479

40 182 338 245 169 700 433 1,008

Collection charges commissions, fees, etc................................. 60 105 84 64 45 39 36 46

Foreign department ............ 32 2 13 8 9

Trust department ...................... 381 19 4 35 44 279

Service charges on deposit accounts.............................................. 580 13 38 52 47 32 85 55 258

Other current earnings......................................................................... 1,406 14 62 86 72 93 210 96 773

T o ta l earnings fr o m cu rren t o p e r a t io n s ..................... 11,697 369 965 1,189 785 703 1,799 1,202 4,685

Expenses of cu rren t op eratio n s:

Salaries and wages . .................................................................. 4,324 193 446 495 354 260 678 527 1,371

Interest on deposits ............. ..................................................... 3,380 64 227 361 224 201 521 428 1,354

Interest and discount on borrowed money ............................. 194 5 13 19 14 18 99 23 3

1,173 36 86 85 64 81 170 80 571

Other current expenses . ............................. 3,603 122 283 362 214 196 532 267 1,627

T o ta l cu rrent expenses . ............................................ 12,674 420 1,055 1,322 870 756 2,000 1,325 4,926

N et losses fro m cu rrent o p e ra tio n s............................................ 977 51 90 133 85 53 201 123 241

Recoveries, profits o n securities sold, etc:

On loans . . ........................................................................... 651 25 87 74 37 47 158 23 200

On securities . .. ........................................................................... 1,830 29 128 249 257 106 458 266 337

513 19 58 53 41 29 91 12 210

T o ta l recoveries, profits o n securities

sold, etc. . ........................................................................... 2,994 73 273 376 335 182 707 301 747

N et losses and recoveries . ................................................... 2,017 22 183 243 250 129 506 178 506

Losses and d epreciation:

8,618 91 312 263 331 201 1,114 301 6,005

4,652 6 43 130 235 95 162 925 3,056

On banking house furniture and fixtures.................................. 291 17 53 96 32 6 51 3 33

Other losses and depreciation........................................................... 3,510 20 84 79 58 67 842 182 2,178

T o ta l losses and d e p re cia tio n ............................................... 17,071 134 492 568 656 369 2,169 1,411 11,272

____________' __________ __ . . .

206 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N et de d u ctio n fro m profits fo r cu rren t period

G ash dividends d e c la re d .....................................................................

15,054

200

112

9

309

27

325

39

406

24

240

16

1,663

60

1,233

25 10,766

N et d e d u ction fr o m profits after cash

d ivid e n d s...................................................................................................

I

15,254 121 336 364 430 256 1,723 1,258 10,766

Number of officers....................................................................................... 1,075 174 274 211 102 67 107 53 87

Number of employees................................................................................ 1,744 48 115 164 117 98 298 265 639

N O T E : Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS 207

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BA N K S O PER ATIN G THROUGHOUT EN TIRE Y E A R GROUPED B Y AM OUN T OF DEPOSITS

T a b le 140. AVERAGES PER BANK OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS g

R eportin g n et E arnings F rom C urrent Op er ation s, Calen d ar Y ear 1935 oo

All

banks

Banks with deposits on December 31, 1935 of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

Over

$5,000,000

Number of banks......................................................................................... 8,080 807 2,381 1,993 851 485 772 464 327

Earnings fro m cu rren t op eration s:

Interest and dividends on securities..............................................

Collection charges, commissions, fees, etc..................................

Foreign departm ent...............................................................................

Trust departm ent....................................................................................

Service charges on deposit accounts..............................................

Other current earnings.........................................................................

T o ta l earnings fro m cu rren t o p e r a tio n s .....................

Expenses of cu rre n t o p e ra tio n s:

Salaries and w ages..................................................................................

Interest on deposits................................................................................

Interest and discount on borrowed m oney................................

Taxes..............................................................................................................

Other current expenses.........................................................................

T o ta l cu rren t expenses...............................................................

N et earnings fro m cu rrent o p e ra tio n s.....................................

Recoveries, profits on securities sold, etc:

On loans.......................................................................................................

All other.......................................................................................................

T o ta l recoveries, profits on securities

N et earnings and recoveries.............................................................

Losses and depreciation :

On banking house, furniture and fixtures..................................

Other losses and depreciation...........................................................

T o ta l losses and d e p re c ia tio n ...............................................

$36,416

28,062

2,801

714

6,726

2,474

6,001

83,194

$ 3,622

560

726

1

51

199

244

5,403

$ 6,109

1,899

1,055

1

22

396

406

9,888

$10,782

4,363

1,591

6

23

766

876

18,407

$17,388

8,295

2,046

74

139

1,247

1,652

30,841

$22,305

12,544

2,177

229

1,792

2,132

41,179

$35,497

20,946

2,666

16

1,010

2,913

4,115

67,163

$72,562

45,955

5,175

291

4,429

6,213

9,750

144,375

$515,575

496,756

27,862

16,951

156,413

31,492

108,376

1,353,425

$23,752

15,052

248

4,323

15,413

58,788

$ 1,859

598

46

367

1,165

4,035

$ 3,093

1,703

33

560

1,870

7,259

$5,252

3,839

49

986

3,241

13,367

$ 8,208

7,118

95

1,582

5,283

22,286

$10,684

10,600

159

2,043

6,390

29,876

$17,488

17,360

172

3,455

10,623

49,098

$36,185

36,584

1,397

7,308

24,373

105,847

$397,936

207,511

2,612

70,168

261,712

939,939

$24,406 $ 1,368 $ 2,629 $ 5,040 $ 8,555 $11,303 $18,065 $38,528 $413,486

$ 4,128

16,430

2,633

23,191

$ 249

177

83

509

$ 471

777

143

1,391

$ 769

1,897

307

2,973

$ 1,103

3,417

523

5,043

$1,509

5,645

615

7,769

$ 2,087

9,834

1,237

13,158

$ 4,304

21,903

3,179

29,386

$ 77,129

316,774

52,226

446,129

$47,597 $ 1,877 $ 4,020 $8,013 $13,598 $i9,072 $31,223 $67,914 $859,615

$18,335

14,514

1,941

4,805

39,595

$ 981

170

183

216

1,550

$ 1,621

525

308

326

2,780

$ 2,799

1,280

497

713

5,289

$ 4,949

3,033

790

1,029

9,801

$ 7,351

5,072

977

1,468

14,868

$11,423

9,952

1,588

2,777

25,740

$30,959

21,582

3,504

7,567

63,612

$327,089

277,052

30,024

89,343

723,508

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N e t a d d ition to profits for cu rren t perio d.............................

C ash dividends d e c la re d ................................................................

$ 8,0 0 2 

11,589

$ 327

306

$ 1,240

684

$ 2,724

1,309

$ 3,797

2 199

$ 4,204

2 870

$ 5,483

4 948

$ 4,302

10 864

$136,107

ZOO,OOO

N e t a d d ition to profits after cash d iv id e n d s .......................... $ 3,587 $ 21 $ 556 $ 1,415 $ 1,598 $ 1,334 $ 535 $ 6,552 £ 99,459

Number of officers.................................................................................. 3 2 2 3 3 O

Number of employees.............................................................................. 10 1 1 2 3

o

A 7

g

1 c 18

1 71 ID i. / 1

N O T E : Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BA N K S O PER ATIN G THROUGHOUT EN TIRE Y E A R GROUPED B Y AM OUNT OF DEPOSITS

T a b le 141. AVERAGES PER BANK OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL STATE BANKS

R e p o r t in g N e t L o sse s F ro m C u r r e n t O p e r a t io n s , C a l e n d a r Y e a r 1935

Number of banks

E arnings fro m cu rren t op era tion s:

Interest and discount on loans .........................................................

Interest and dividends on securities..............................................

Collection charges, commissions, fees, etc..................................

Foreign departm ent...............................................................................

Trust departm ent....................................................................................

Service charges on deposit accounts..............................................

Other current earnings.........................................................................

T o ta l earnings fro m cu rrent o p e r a tio n s .....................

Expenses of cu rren t o p era tion s:

Salaries and wages...................................................................................

Interest on deposits................................................................................

Interest and discount on borrowed m o n e y...............................

Taxes............................................................................................................

Other current expenses.......................................................................

T o ta l cu rren t exp enses.............................................................

N et losses fro m cu rrent o p era tio n s............................................

Recoveries, profits on secu rities sold, etc:

On loans . .....................................................................................................

On securities.............................................................................................

All other.......................................................................................................

T o ta l recoveries, profits o n secu rities sold, etc:

N et losses an d reco veries....................................................................

Losses and de p reciatio n :

On loans.......................................................................................................

On securities...............................................................................................

On banking house, furniture and fixtures..................................

Other losses and depreciation...........................................................

T o ta l losses and d e p re c ia tio n ...............................................

Banks with deposits on December 31, 1935 of—

All

banks $100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

Over

$5,000,000

407 102 123 84 32 18 31 11 6

$14,015

7,654

1,177

79

$ 2,373

392

588

$ 4,699

1,480

853

$ 7,262

4,024

1,000

$11,094

7,656

2,000

62

$20,000

9,389

2,500

$23,129

22,581

1,258

419

$48,182

39,364

3,273

727

$385,333

168,000

7,667

1,500

936 226 222 1,129

2,742

6,774

58,032

4.000

5.000

8,727

109,273

46,500

1,425

3,454

28,740

128

137

3,618

309

504

7,845

619

1,024

14,155

1,469

2,250

24,531

1,778

5,167

39,056

43,000

128.833

780.833

$10,624

8,305

477

2,882

8,852

31,140

$ 1,892

628

49

353

1,196

4,118

$ 3,626

1,845

106

699

2,301

8,577

$ 5,893

4,298

226

1,012

4,309

15,738

$11,062

7.000

437

2.000

6,688

27,187

$14,444

11,167

1,000

4,500

10,889

42,000

$21,871

16,806

3,194

5,484

17,161

64,516

$47,909

38,909

2,091

7,273

24,273

120,455

$228,500

225,667

500

95,167

271,166

821,000

$ 2,400 $ 500 $ 732 $ 1,583 $ 2,656 $ 2,944 $ 6,484 $11,182 $40,167

$ 1,600

4,496

1,260

7,356

$ 245

285

186

716

$ 707

1,041

472

2,220

$ 881

2,964

631

4,476

$ 1,156

8,032

1,281

10,469

$ 2,611

5,889

1,611

10,111

$ 5,097

14,774

2,935

22,806

$ 2,091

24,182

1,091

27,364

$ 33,333

56,167

35,000

124,500

$ 4,956 $ 216 $ 1,488 $ 2,893 $ 7,813 $ 7,167 $16,322 $16,182 $84,333

$21,175

11,430

715

8,624

41,944

$ 892

59

167

196

1,314

$ 2,536

350

431

683

4,000

$ 3,131

1,548

1,143

940

6,762

$10,344

7,344

1,000

1,812

20,500

$11,167

5,278

333

3,722

20,500

$35,935

5,226

1,645

27,161

69,967

$27,364

84,091

273

16,545

128,273

$1,000,833

509,333

5,500

363,000

1,878,666

210 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N et d e d u ctio n s fr o m profits for current p e rio d . .

C ash dividends d e c la r e d .....................................................................

$36,988

491

$ 1,098

88

$ 2,512

220

$ 3,869

464

$12,687

750

$13,333

889

$53,645

1,935

$112,091

2,273

$1,794,333

N et d e d u ction s fr o m profits a fte r cash dividends $37,479 $ 1,186 $ 2,732 $ 4,333 $13,437 $14,222 $55,580 $114,394 $1,794,333

Number of officers....................................................................................... 3 2 2 3 3 4 4 5 15

Number of employees................................................................................ 4 1 1 2 4 5 10 24 107

N O T E : Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 142. E a r n in g s , E x p e n s e s , AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL STATE BANKS

R e p o r t in g N e t E a r n in g s F ro m C u r r e n t O p e r a t io n s , C a l e n d a r Y e a r 1935

to

i—1

to

BA N K S O PER ATIN G THROUGHOUT EN TIRE Y E A R GROUPED B Y AM OUNT OF DEPOSITS

All

banks

Banks with deposits on December 31, 1935 of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

Over

$5,000,000

8,080 807 2,381 1,993 851 485 772 464 327

A m o u n ts per $100 of total earn ings

Earnings fr o m cu rren t op e ra tio n s:

Interest and discount on loans .........................................................

Interest and dividends on securities..............................................

Exchange and collection charges.....................................................

Trust departm ent....................................................................................

Service charges on deposit accounts..............................................

Other earnings..........................................................................................

T o ta l earnings fro m cu rren t o p e r a tio n s .....................

Expenses of cu rren t o p era tion s:

Salaries and wages...................................................................................

Interest on deposits................................................................................

Other expenses..........................................................................................

N et earn ings fro m cu rren t o p e ra tio n s....................................

A m o u n ts per $100 of to ta l assets

Total earnings from current operations............................................

N et earnings fro m cu rrent o p e r a tio n s.....................................

Recoveries, profits on securities, etc...................................................

N et earn ings and reco veries.............................................................

Losses and depreciation on assets........................................................

N et ad dition to profits for cu rren t p erio d .............................

N et ad dition to profits after cash div id e n d s........................

$43.77

33.73

3.37

8.08

2.97

8.08

100.00

$67.04

10.36

13.44

.94

3.67

4.55

100.00

$61.78

19.20

10.67

.22

4.00

4.13

100.00

$58.58

23.70

8.64

.13

4.16

4.79

100.00

$56.38

26.89

6.63

.45

4.04

5.61

100.00

$54.17

30.46

5.29

.55

4.35

5.18

100.00

$52.85

31.19

3.97

1.50

4.34

6.15

100.00

$50.26

31.83

3.58

3.07

4.30

6.96

100.00

$38.09

36.70

2.06

11 56

2.33

9.26

100 00

$28.55

18.09

5.20

18.82

70.66

$34.40

11.07

6.79

22.42

74.68

$31.28

17.22

5.67

19.24

73.41

$28.53

20.86

5.35

17.88

72.62

$26.61

23.08

5.13

17.44

72.26

$25.95

25.74

4.96

15.90

72.55

$26.04

25.85

5.14

16.07

73.10

$25.06

25.34

5.06

17.85

73.31

$29.40

15.33

5.19

19 53

69.45

$29.34 $25.32 $26.59 $27.38 $27.74 $27.45 $26.90 $26.69 $30.55

$ 3.11

2.20

$ 5.79

4.32

$ 4.93

3.62

$ 4.62

3.36

$ 4.48

3.24

$ 4.25

3.08

$ 4.24

3.10

$ 4.16

3.05

$ 2.69

1.87

$ .91

.87

$ 1.47

.54

$ 1.31

.70

$ 1.26

.75

$ 1.24

.73

$ 1.17

.80

$ 1.14

.83

$ 1.11

.85

$ .82

.89

$ 1.78

1.48

$ 2.01

1.66

$ 2.01

1.39

$ 2.01

1.33

$ 1.97

1.42

$ 1.97

1.54

$ 1.97

1.63

$ 1.96

1.84

$ 1.71

1.44

$ .30

.43

$ .35

.33

$ .62

.34

$ .68

.33

$ .55

.32

$ .43

.30

$ .34

.31

$ .12

.31

$ .27

.47

$ .13 $ .02 $ .28 $ .35 $ .23 $ .13 $ .03 $ .19 $ .20

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
A m o u n ts per $100 of tota l cap ital a co u n t

N et earnings from current operations.....................

Recoveries, profits on securities, etc.........................

N et earn ings and reco veries...................................

Losses and depreciation on assets..............................

N et ad dition to profits for cu rren t p e rio d . .

Cash dividends declared..................................................

N et a d d itio n to profits a fte r cash dividends

$ 6.56 $ 5.25 $ 6.71 $ 7.66 $ 7.82 $ 7.89 $ 7.25 $ 7.01 $ 6.29

6.24 1.95 3.55 4.52 4.61 5.42 5.28 5.34 6.78

$12.80 $ 7.20 $10.26 $12.18 $12.43 $13.31 $12.53 $12.35 $13.07

10.65 5.95 7.09 8.04 8.96 10.38 10.33 11.57 11.00

$ 2.15 $ 1.25 $ 3.17 $ 4.14 $ 3.47 $ 2.93 $ 2.20 $ .78 $ 2.07

3.12 1.17 1.75 1.99 2.01 2.00 1.99 1.97 3.58

$ .97 $ .08 $ 1.42 $ 2.15 $ 1.46 $ .93 $ .21 $ 1.19 $ 1.51

N O T E: Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS 21 3

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
B A N K S O PER ATIN G THROUGHOUT EN TIR E Y E A R GROUPED B Y AM OUN T OF DEPOSITS

T a b le 143. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL STATE BANKS

R eporting N et L osses F rom C urrent Op er ation s, Ca len dar Y ear 1935

All

banks

Banks with deposits on December 31, 1935 of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

Over

$5,000,000

407 102 123 84 32 18 31 11 6

A m o u n ts per $100 of to ta l earnings

E arnings fr o m cu rren t o p eratio n s:

Interest and discount on loans......................................................... $48.76

26.63

$65.58

10.84

$59.90

18.86

$51.30

28.43

$45.22

31.21

$51.21

24.04

$39.86

38.91

$44.09

36.02

$49.36

Interest and dividends on securities.............................................. 21.51

Exchange and collection charges.................................................... 4.10 16.26 10.88 7.06 8.15 6.40 2.17 2.99 .98

Trust department . . . . . 3.26 1.60 .57 1.95 3.66 5.95

Service charges on deposit accounts.............................................. 4.96 3.52 3.94 4.37 5.99 4.55 4.72 4.58 5.51

Other earnings.......................................................................................... 12.29 3.80 6.42 7.24 9.43 13.23 12.39 8.66 16.69

T o ta l earn ings fr o m cu rren t o p e r a t io n s ..................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Expenses of cu rren t op era tion s:

Salaries and w ages..................................................................................

Interest on deposits................................................................................<

Taxes.............................................................................................................. i

Other expenses..........................................................................................

T o ta l cu rren t exp en ses............................................................... 1

$36.97

28.90

10.03

! 32.45

j 108.35

$52.30

17.34

9.76

34.42

113.82

$46.22

23.52

8.91

30.67

109.32

$41.63

30.36

7.15

32.05

111.19

$45.10

28.54

8.15

29.04

110.83

$36.99

28.59

11.52

30.44

107.54

$37.69

28.96

9.45

35.07

111.17

$43.84

35.61

6.66

24.12

110.23

$29.26

28.90

12.19

34.79

105.14

N et losses fro m cu rre n t o p e r a t i o n s ......................................... $ 8.35 $13.82 $ 9.32 $11.19 $10.83 $ 7.54 $11.17 $10.23 $ 5.14

A m o u n ts per $100 of to ta l assets

Total earnings from current operations............................................

Total current expenses..............................................................................

j $ 3.51

3.80

$ 4.20

4.78

$ 3.92

4.28

$ 3.60

4.00

$ 2.57

2.84

$ 3.69

3.97

$ 3.12

3.47

$ 3.23

3.56

$ 3.82

4.02

N et losses fr o m cu rren t o p e r a tio n s ............................................

Recoveries, profits on securities, etc...................................................

$ .29

.90

$ .58

.83

$ .36

1.10

$ .40

1.14

$ .27

1.09

$ .28

.96

$ .35

1.23

$ .33

.81

$ .20

.61

N et losses less reco veries.....................................................................

Losses and depreciation on assets........................................................

$ .61

5.12

$ .25

1.53

$ .74

2.00

$ .74

1.72

$ .82

2.15

$ .68

1.94

$ .88

3.76

$ .48

3.79

$ .41

9.19

N et d e d u ction fr o m profits for cu rren t p e r io d .....................

Cash dividends declared. . . . ................. . . . .

i $ 4.51

\ .06

$ 1.28

.10

$ 1.26

.10

I

$ .98

.12

$ 1.33

.08

$ 1.26

.08

$ 2.88

.10

$ 3.31

.07

$ 8.78

N et d e d u ction fro m profits after cash d iv id e n d s ........... $ 4.57 $ 1.38 $ 1.36 $ 1.10 $ 1.41 $ 1.34 $ 2.98 $ 3.38 $ 8.78

214 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
A m o u n ts per $100 of to ta l cap ita l a ccou n t

N et losses from current operations.....................................................

Recoveries, profits on securities, etc..................................................

N et losses less reco v eries....................................................................

Losses and depreciation on assets.......................................................

N et dedu ction fro m profits for cu rrent p e rio d.....................

Cash dividends declared...........................................................................

N et d e d u ctio n fr o m profits after cash divid e n d s ............

$ 1.70

5.20

$ 2.16

3.09

$ 1.78

5.41

$ 2.°4

6.61

$ .86

7.35

$ 1.53

5.26

$ 1.64

5.78

$ 1.94

4.76

$ 1.35

4.17

$ 3.50

29.65

$ .93

5.67

$ 3.63

9.75

$ 4.27

9.98

$ 5.49

14.41

$ 3.73

10.68

$ 4.14

17.75

$ 2.82

22.31

$ 2.82

62.96

$26.15

.35

$ 4.74

.38

$ 6.12

.53

$ 5.71

.69

$ 8.92

.53

$ 6.95

.46

$13.61

.49

$19.49

.40

$60.14

$26.50 $ 5.12 $ 6.65 $ 6.40 $ 9.45 $ 7.41 $14.10 $19.89 $60 14

N O T E : Italics indicate deficit or deduction from profits.

EARNINGS OF INSURED COMMERCIAL BANKS 215

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 144. E A R N IN G S , E X P E N S E S , AND D ISPO SITIO N OF PR O F ITS OF O PE R A T IN G IN SU R E D CO M M ER CIAL B A N K S NOT

M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1935

BA N K S O PER ATIN G THROUGHOUT EN TIRE Y E A R GROUPED B Y AMOUNT OF DEPOSITS

Number of banks .

E arnings fro m cu rrent op eratio n s:

Interest and discount on loans ..................................

Interest and dividends on securities......................

Exchange collected........................................................

Other collection charges, commissions, fees, etc.

Foreign departm ent.......................................................

Trust departm ent...................................* .....................

Service charges on deposit accounts......................

Rent received. ...................................................................

Other current earnings.................................................

T o ta l earnings fro m cu rrent op erations

Expenses of cu rrent o p e ra tio n s:

Salaries— officers.............................. ...............................

Salaries and wages— other em ployees..................

Fees paid to directors and members of executive, discount, and advisory committees . . . .

Legal fees.............................................................................

Interest on public funds..............................................

Interest on postal savings deposits........................

Interest on other time deposits................................

Interest and discount on borrowed money . . . .

Real estate taxes..............................................................

Other taxes............................................ ............................

Insurance and fidelity bond prem ium s................

Other current expenses.................................................

T o ta l current exp en ses.......................................

N et earnings fro m cu rrent o p e r a tio n s ............

All

banks

7,508

Banks with deposits on December 31, 1935 of—

$100,000 $100,000 $250,000 $500,000 $750,000 $1,000,000 $2,000,000 $5,000,000

and to to to to to to to Over

under 250,000 500,000 750,000 1,000,000 2,000,000 5,000,000 50,000,000 $50,000,000

898 757

(In thousands of dollars)

141,541 3,113 14,485 20,287 13,136 9,691 23,082 22,162 28,568 7,017

79,077 486 4,496 8,227 6,235 5,395 13,811 13,621 21,062 5,744

8,235 464 1,751 2,013 1,005 700 1,120 619 561 2

6,663 177 774 1,065 627 290 664 1,021 1,993 52

407 1 3 12 43 19 112 213 4

7,101 41 51 58 99 87 639 1,242 4,469 415

9,870 168 931 1,448 927 772 1,952 1,704 1,801 167

14,353 149 774 1,309 960 797 2,217 2,398 5,133 616

5,716 61 209 339 276 158 550 599 3,489 35

272,963 4,660 23,474 34,758 23,308 17,890 44,054 43,478 67,289 14,052

39,878 1,433 6,158 7,385 4,096 2,847 6,034 4,814 6,370 741

30,154 164 910 2,120 1,864 1,564 4,843 5,675 11,416 1,598

1,746 26 168 253 174 127 322 274 341 61

2,676 46 230 296 207 153 410 412 761 161

3,295 30 272 452 297 232 544 516 902 50

1,660 7 97 221 196 158 363 187 431

62,866 505 3,776 6,719 4,966 4,291 10,622 10,852 14,685 6,450

1,399 41 87 97 77 94 202 304 497

8,496 152 661 906 583 493 1,301 1,262 2,669 469

6,696 173 690 973 638 447 1,077 1,013 1,314 371

7,239 208 868 1,160 722 506 1,291 1,118 1,176 190

39,367 840 3,650 5,062 3,293 2,339 5,843 5,926 10,974 1,440

205,472 3,625 17,567 25,644 17,113 13,251 32,852 32,353 51,536 j 11,531

67,491 1,035 5,907 9,114 6,195 ! 4,639 11,202 11,125 15,753 i 2,521

216 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
R ecoveries, profits 011 securities sold, etc:

Recoveries on loans.............................

Recoveries on securities....................

Profits on securities sold...................

All other...................................

T o ta l recoveries, profits on securities

sold, e tc ............................

9,473

10,276

28,005

7,040

54,794

221

56

116

86

479

1,159

524

1,382

376

3,441

1,423

965

2,736

625

5,749

794

684

2,120

420

4,018

681

625

1,818

276

3,400

1,387

1,618

4,982

872

8,859

1,336

1,440

5,078

989

8,843

2,190

3,072

6,972

3,163

15,397

282

1,292

2,801

233

4,608

N et earnings and reco veries.......... 122,285 1,514 9,348 14,863 10,213 8,039 20,061 19,968 31,150 7,129

Losses and depreciation :

On loans.................................

On securities........................

On banking house, furniture and fixtures..........

Other losses and depreciation.........................

„ T o ta l losses and d e p re c ia tio n .......................

64,956

39,627

5,857

15,972

126,412

861

143

159

193

1,356

4,042

1,271

745

829

6,887

5,378

2,459

977

1,372

10,186

4,034

2,359

573

807

7,773

3,283

2,104

382

660

6,429

8,653

6,307

1,002

2,620

18,582

10,226

7,625

803

2,429

21,083

21,279

12,630

1,096

5,631

40,636

7,200

4,729

120

1,431

13,480

N et ad d ition to profits for cu rrent period. . .

C ash dividends d e c la re d ............................

4,127

20,317

158

246

2,461

1,571

4,677

2,416

2,440

1,604

1,610

1,189

1,479

3,122

1,115

3,131

9,486

5,625

6,351

1,413

N et a d d ition to profits after cash dividends. 24,444 88 890 2,261 836 421 1,643 4,246 15,111 7,764

O ther ch anges in cap ital a c c o u n t:

Assessments and other contributions...................

Common capital written off.......................................

Payment of waived deposits.....................................

Other net increase or decrease in capital account

12,462

12,341

4,181

87

146

20

280

883

313

601

844

801

596

658

489

456

320

504

1,075

1,447

944

1,140

925

938

727

5,408

172

7,500

1,710

12,873 206 1,298 865 943 1,535 2,969 4,089 2,457 14,89

N et ch ange in to tal cap ital a c c o u n t ................. 15,631 39 1,272 2,082 1,228 1,588 10 880 17,507 3,463

Number of officers.........................................................

Number of employees.............................................

20,359

28,332

1,442

492

5,062

2,137

4,878

3,331

2,248

2,277

1,410

1,707

2,465

4,445

1,489

4,636

1,285

8,391

80

916

N O T E : Italics indicate deficit, deduction from profits, or net decrease in capital account.

EARNINGS OF INSURED COMMERCIAL BANKS 217

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b l e 145 . A V E R A G E S PE R B A N K OF E A R N IN G S, E X P E N S E S , AND D IS P O SIT IO N OF P R O F IT S OF O P E R A T IN G IN SU R ED

C o m m e r c i a l B a n k s n o t M e m b e r s o f t h e F e d e r a l R e s e r v e S y s t e m , C a l e n d a r Y e a r 1935

BA N K S O PER ATIN G THROUGHOUT EN TIRE Y E A R GROUPED B Y AM OUNT OF DEPOSITS

Number of banks

Earnings fro m cu rrent o p eration s:

Interest and discount on loans................................

Interest and dividends on securities......................

Exchange collected......................... ..............................

Other collection charges, commissions, fees, etc.

Foreign departm ent.......................................................

Trust departm ent...........................................................

Service charges on deposit accounts......................

Rent received....................................................................

Other current earnings.................................................

T o ta l earnings fro m cu rrent operations

Expenses of cu rrent op eration s:

Salaries— officers..............................................................

Salaries and wages— other em ployees..................

Fees paid to directors and members of executive, discount, and advisory committees ....

Legal fees............................................................................

Interest on public funds..............................................

Interest on postal savings deposits........................

Interest on other time deposits................................

Interest and discount on borrowed m oney. . . .

Real estate taxes.............................................................

Other taxes.........................................................................

Insurance and fideility bond premiums...............

Other current expenses.................................................

T o ta l cu rrent expenses.......................................

N et earnings fro m cu rrent o p e ra tio n s.............

All

banks

Banks with deposits on December 31, 1935 of—

$100,000

and

under

$100,000

to

250,000

$250,000

to

500,000

$500,000

to

750,000

$750,000

to

1,000,000

$1,000,000

to

2,000,000

$2,000,000

to

5,000,000

$5,000,000

to

50,000,000

Over

$50,000,000

7,508 898 2,406 1,909 757 436 660 314 124 4

$30,626 $ 5,980 $10,851 $17,967 $28,694 $42,323 $59,724 $123,481 $348,309 $3,005,000

17,137 952 3,323 8,284 15,532 21,891 43,234 83,877 211,902 2,241,333

1,781 1,001 1,330 ] ,711 2,482 2,685 2,195 4,067 4,561 667

1,354 317 575 952 1,893 2,077 1,829 4,325 19,179 22,667

122 1 7 130 492 1,142 1,732 3,333

1,636 52 22 274 136 421 2,250 8,341 86,919 206,333

2,416 323 701 1,365 2,589 3,548 5,779 9,957 21,585 135,667

3,781 298 723 1,558 3,170 5,788 9,601 12,337 62,561 348,000

1,159 85 173 338 807 1,440 1,826 6,516 41,260 11,667

60,012 9,009 17,698 32,456 55,433 80,173 126,930 254,043 798,008 5,974,667

$10,097 $ 3,211 $ 5,504 $ 7,952 $12,601 $14,254 $19,035 $ 33,340 $ 96,423 $ 345,000

7,751 352 766 2,422 6,299 9,271 18,501 48,261 170,179 760,667

321 59 123 227 310 516 686 1,095 3,764 20,333

734 126 288 379 604 1,004 1,747 2,806 13,130 67,667

746 72 225 477 799 1,034 1,958 2,858 8,325 26,000

388 18 108 325 553 803 1,318 615 3,504

15,137 1,138 3,269 7,385 12,189 20,047 30,537 75,058 140,219 2 ,’694,667

648 94 144 168 570 1,182 3,830 3,224 4,041

2,837 371 689 1,172 2,189 3,784 6,168 9,084 38,561 329,666

1,605 345 563 850 1,552 2,771 3,404 5,750 26,553 159,000

1,907 457 838 1,337 2,166 2,912 4,451 8,126 16,504 86,667

10,145 1,902 3,305 6,059 9,897 14,314 24,300 38,449 152,699 663,333

52,316 8,145 15,822 28,753 49,729 71,892 115,935 228,666 673,902 5,153,000

$ 7,696 $ 864 $ 1,876 $ 3,703 $ 5,704 $ 8,281 $10,995 $25,377 $124,106 $ 821,667

218 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Recoveries, profits o n securities sold, etc:

Recoveries on loans........................................................

Recoveries on securities..............................................

Profits on securities sold.............................................

All other..............................................................................

T o ta l recoveries, profits on securities

sold, e tc .....................................................................

$ 2,866

2,076

7,053

1,889

13,884

$ 491

131

334

270

1,226

$ 1,169

434

1,389

630

3,622

$ 1,671

1,229

3,640

981

7,521

$ 2,265

2,007

10,216

2,037

16,525

$ 4,128

2,665

8,815

2,202

17,810

$ 7,758

5,889

19,182

4,497

37,326

$ 6,619

5.414

39,334

4.414

55,781

$35,659

37,870

106,276

41,585

221,390

$199,333

430,667

977,666

109,000

1,716,666

N et earnings and recoveries..................................... $21,580 $ 2,090 $ 5,498 $11,224 $22,229 $26,091 $48,321 $81,158 $345,496 $2,538,333

Losses and depreciation:

On loans..............................................................................

On securities......................................................................

On banking house, furniture and fixtures..........

Other losses and depreciation..................................

T o ta l losses an d d e p re c ia tio n.......................

$29,004

16,953

1,434

8,448

55,839

$ 1,859

231

345

414

2,849

$ 4,269

899

751

1,017

6,936

$ 5,733

2,964

1,684

1,681

12,062

$16,476

10,115

1,784

2,853

31,228

$18,540

10,084

1,233

5,141

34,998

$53,134

15,637

3,285

33,639

105,695

$62,748

114,539

2,835

25,495

205,617

$218,626

103,675

9,902

117,195

449,398

$5,956,567

3,567,667

40,000

1,208,333

10,772,667

N et a d d ition to profits for cu rren t period. . .

C ash dividends d e c la re d .............................................

434,259

3,303

$ 759

387

$ 1,438

899

$ 838

1,764

$ 8,999

3,017

$ 8,907

3,695

$57,374

6,600

$124,459

12,717

$103,902

45,732

$8,234,334

471,000

N et ad dition to profits after cash dividend . .. $37,562 $ 1,146 $ 2,337 $ 2,602 $12,016 $12;602 $63;974 $137,176 $149,634 $8,705,334

O th er ch anges in cap ital a c c o u n t:

Assessments and other contributions...................

Common capital written off......................................

Payment of waived deposits.....................................

24,727

7,429

1,448

323

312

25

645

1,122

137

2,706

971

463

8,592

4,932

1,740

11,883

766

1,206

16,377

12,923

12,519

55,684

3,043

3,086

5,910

43,967

1,398

19,975

7.500.000

1.710.000

Other net increase or decrease in capital accoun 2,704 517 2,672 3,834 8,497 5,799 4,694 47,783 1,022,999

N et change in total capital a c c o u n t ................. $19,008 $ 643 $ 279 $ 2,504 $ 1,599 $ 3,108 $68,345 $39,838 $169,114 $3,938,333

N O T E : Italics indicate deficit, deduction from profits, or net decrease in capital account.

EARNINGS OF INSURED COMMERCIAL BANKS 219

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Federal Reserve Bank of St. Louis
T a b le 146. E a r n in g s , E x p e n s e s , AND DISPOSITION OF PROFITS, RATIOS, INSURED COMMERCIAL BANKS NOT MEMBERS

o f t h e F e d e r a l R e s e r v e Sy s t e m , C a l e n d a r Y e a r 1935

BA N K S O PERATIN G THROUGHOUT ENTIRE Y E A R GROUPED B Y AM OUNT OF DEPOSITS

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

A m o u n ts per $100 of to ta l earnings

Earnings fro m cu rrent op eratio n s:

Interest and discount on loans................................

Interest and dividends on securities......................

Exchange and collection charges............................

Trust departm ent...........................................................

Service charges on deposit accounts......................

Other earnings..................................................................

T o ta l earnings fro m cu rrent operations

Expenses of cu rrent op erations:

Salaries and w ages.........................................................

Interest on public funds..............................................

Interest on postal savings deposits........................

Interest on other time deposits................................

Taxes.....................................................................................

Other expenses..................................................................

T o ta l cu rrent exp enses.......................................

N et earnings fro m cu rrent operations

A m o u n ts per $100 of total assets

Total earnings from current operations....................

Total current expenses......................................................

Net earnings fro m current operations

Recoveries, profits on securities, etc...........................

Net earnings and recoveries.....................................

Losses and depreciation on assets...............................

N et ad dition to profits for cu rren t period.

Cash dividends declared...................................................

Net ad dition to profits after cash dividends.

All

banks

7,508

$51.85

28.97

5 46

2.60

3.62

7.50

100.00

$27.27

1.21

.61

23.03

5.56

17.59

75.27

$24.73

$ 4.32

3.25

$ 1.07

.86

$ 1.93

2.00

.07

.32

$ .39

$100,000

and

under

$66.80

10.43

13.76

.88

3.60

4.53

100.00

$35.82

.64

.15

10.84

6.97

23.37

77.79

$22.21

$ 5.62

4.37

$ 1.25

.58

$ 1.83

1.64

.19

.30

Banks with deposits on December 31, 1935 of—

$100,000

to

250,000

2,406

$250,000

to

500,000

1,909

$61.71

19.15

10.76

.22

3.96

4.20

100.00

$31.81

1.16

.41

16.08

5.76

19.62

74.84

$25.16

$ 4.90

3.67

$58.37

23.67

8.86

.17

4.16

4.77

100.00

$28.93

1.30

.64

19.33

5.40

18.18

73.78

$26.22

$ 4.61

3.40

$ 1.23

.72

$ 1.95

1.44

.51

.33

$ 1.21

.76

$ 1.97

1.35

.62

.32

$ .18 $ .30

$500,000

to

750,000

757

$56.36

26.75

7.00

.42

3.98

5.49

100.00

$27.21

1.27

.84

21.30

5.24

17.56

73.42

$26.58

$ 4.43

3.25

$ 1.18

.76

$ 1.94

1.48

$ .46

.30

$ .16

$750,000

to

1,000,000

$54.17

30.15

5.53

.49

4.32

5.34

100.00

$26.22

1.30

.88

23.99

5.25

16.43

74.07

$25.93

$ 4.26

3.16

$ 1.10

.81

$ 1.91

1.53

$ .38

.28

$ .10

$1,000,000

to

2,000,000

660

$52.39

31.35

4.05

1.45

4.43

6.33

100.00

$26.35

1.24

.82

24.11

5.40

16.65

74.57

$25.43

$ 4.24

3.16

$ 1.08

.85

$ 1.93

1.79

.14

.30

$2,000,000

to

5,000,000

314

$50.97

31.33

3.77

2.86

3.92

7.15

100.00

$25.70

1.19

.43

24.96

5.23

16.90

74.41

$25.59

$ 4.16

3.10

$ 1.06

.85

$ 1.91

2.02

.11

.30

$ .41

$5,000,000

to

50,000,000

124

$42.45

31.30

3.80

6.64

2.68

13.13

100.00

$28.07

1.34

.64

21.82

5.92

18.80

76.59

$23.41

$ 4.27

3.27

$ 1.00

$ 1.98

2.58

.63

.36

.96

Over

$50,000,000

$49.94

40.88

.38

2.95

1.19

4.66

100.00

$18.22

36

' 45.90

5.98

11.60

82.06

$17.94

$ 3.52

2.89

$ .63

1.15

$ 1.78

3.37

$ 1.59

.35

$ 1.94

220 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
A m o u n ts per $100 of total cap ital accou n t

N et earnings from current operations..................

Recoveries, profits on securities, etc......................

N et earnings and reco v eries................................

Losses and depreciation on assets...........................

N et ad dition to profits for cu rren t period.

Cash dividends declared..............................................

N et ad dition to profits after cash dividend

Special ratios

Interest and discount on loans per $100 of total

loans......................................................................................

Interest and dividends on securities per $100 of

total securities.........................................................

Service charges per $100 of demand deposits

Interest on time deposits per $100 of time deposits

of individuals, partnerships and corporations .

Losses on loans per $100 of total loans....................

Losses on securities per $100 of total securities . .

Losses and depreciation on banking house, furniture and fixtures, per $100 of banking house,

furniture and fixtures...................................................

$ 6.52 $ 4.49 $ 6.28 $ 7.25 $ 7.30 $ 7.35 $ 6.57 $ 6.57 $ 5.96 $ 6.27

5.30 2.08 3.66 4.58 4.74 5.39 5.20 5.22 5.83 11.45

$11.82 $ 6.57 $ 9.94 $11,83 $12.04 $12.74 $11.77 $11.79 $11.79 $17.72

12.22 5.89 7.32 8.11 9.16 10.19 10.90 12.45 15.38 33.51

$ .40 $ .68 $ 2.62 $ 3.72 $ 2.88 $ 2.55 $ .87 $ .66 $ 3.59 $15.79

1.96 1.06 1.67 1.92 1.89 1.88 1.83 1.85 2.13 3.51

$ 2.3 6 $ .38 $ .95 $ 1.80 $ .99 $ .67 $ .96 $ 2.51 $ 5.72 $19.30

$ 5.75 $ 8.03 $ 7.05 $ 6.64 $ 6.35 $ 6.15 $ 5.72 $ 5.56 $ 4.79 $ 4.68

3.51 3.55 3.65 3.53 3.52 3.53 3.63 3.43 3.53 3.17

.50 .47 .46 .48 .51 56 .59 .58 .41 .35

2.28 2.82 2.59 2.46 2.36 2.31 2.31 2.17 2.17 2.27

2.64 2.22 1.97 1.76 1.95 2.08 2.15 2.56 3.57 4.80

1.76 1.04 1.03 1.06 1.33 1.38 1.66 1.92 2.12 2.61

2.98 4.64 5.05 4.73 3.99 3.25 2.98 2.35 2.00 1.32

N O T E : Italics indicate deficit or deduction from profits.

DO

toEARNINGS OF INSURED COMMERCIAL BANKS

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T a b le 147. SALARIES AND WAGES OF OFFICERS AND EMPLOYEES, INSURED COMMERCIAL STATE BANKS, CALENDAR YEAR 1935

GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES

Number of officers and employees on December 31, 1935

All insured

State banks

State banks members F. R. System

State banks not members F. R. System

Total

Active

officers

Other

em ­

ployees

Total

Active

officers

Other

employees

Total

Active

officers

Other

employees

U nited States— t o t a l ........................... 110,294 28,277 82,017 60,007 7,337 52,670 50,287 20,940 29,347

B anks w ith deposits o f—

$100,000 and under....................... 1,958 1,460 498 24 18 6 1,934 1,442 492

$100,000 to $250,000 ..................... 7,518 5,269 2,249 319 207 112 7,199 5,062 2,137

$250,000 to $500,000 ..................... 8,932 5,312 3,620 714 431 283 8,218 4,881 3,337

$500,000 to $750,000 ..................... 5,253 2,621 2,632 728 373 355 4,525 2,248 2,277

$750,000 to $1,000,000 ................. 3,605 1,624 1,981 481 212 269 3,124 1,412 1,712

$1,000,000 to $2,000,000 ............. 8,494 3,031 5,463 1,547 556 991 6,947 2,475 4,472

$2,000,000 to $5,000,000 ............. 9,615 2,275 7,340 3,420 775 2,645 6,195 1,500 4,695

$5,000,000 to $50,000,000 ........... 23,946 3,236 20,710 13,915 1,891 12,024 10,031 1,345 8,686

Over $50,000,000 ............................ 39,077 2,816 36,261 38,081 2,736 35,345 996 80 916

Not operating throughout entire

yea r................................................... 1,896 633 1,263 778 138 640 1,118 495 623

State

Alabam a............................................... 771 346 425 228 60 168 543 286 257

Arizona................................................. 154 43 111 58 14 44 96 29 67

Arkansas.............................................. 674 378 296 110 34 76 564 344 220

California............................................ 4,846 879 3,967 3,429 470 2,959 1,417 409 1,008

Colorado.............................................. 426 165 261 170 33 137 256 132 124

Connecticut........................................ 1,064 228 836 315 53 262 749 175 574

Delaware.............................................. 609 153 456 342 57 285 267 96 171

District of Colum bia..................... 944 125 819 466 39 427 478 86 392

Florida.................................................. 597 251 346 69 14 55 528 237 291

Georgia................................................. 1,154 558 596 404 142 262 750 416 334

Idah o..................................................... 319 112 207 206 62 144 113 50 63

Illinois................................................... 5,699 1,713 3,986 2,881 407 2,474 2,818

2,379

1,306 1,512

Indiana................................................. 2,704 1,085 1,619 325 87 238 998 1,381

Iow a....................................................... 2,314 1,166 1,148 331 107 224 1,983 1,059 924

K ansas.................................................. 1,176 665 511] 115 53 62 1,061 612 449

Salaries and wages paid during 1935 (in thousands of dollars)

All insured

State banks

State banks members F. R. System

State banks not members F. R. System

Total

Active

Officers

Other

employees

Total

Active

officers

Other

employees

Total Active

officers

j Other

i em-

! ployj ees

194,776 83,236 111,540 123,222 42.,516 80,706 71,554 40,720 '30,834

1,621 1,443 178 24 10 14 1,597 1,433 164

7,413 6,446 967 345 288 57 7,068 6,158 910

10,418 8,082 2,336 908 695 213 9,510 7,387; 2,123

6,958 4,771 2,187 998 675 323 5,960 4,096' 1,864

5,166 3,328 1,838 751 479 272 4,415 2,849: 1,566

13,508 7,531 5,977 2,601 1,485 1,116 10,907 6,045 4,861

16,649 7,627 9,022 6,111 2 ,793 3,318 10,538 4,834' 5,704

44,756 16,527 28,229 26,637 10 ,016 16,621 18,119 6,511 11,608

85,749 26,098 59,651 83,410 25 ,357 58,053 2,339 7411 1,598

2,538 1,383 1,155 1,437 718 719 1,101 665

!

436

963 592 371 340 138 202 623 454 169

284 136 148 115 52 63 169 841 85

772 566 206 156 88 68 616 478 138

9,961 3,672 6,289 7,213 2 ,460 4,753 2,748 1,212 1,536

659 344 315 326 125 201 333 219 114

2,258 1,058 1,200 779 361 418 1,479 697 782

1,187 561 626 773 342 431 414 219 195

1,235 416 819 814 239 575 421 177 244

883 530 353 129 55 74 754 475 279

1,622 1,018 604 675 342 333 947 676 271

472 257 215 326 159 167 146 98 48

9,264 4,349 4,915 5,591 2 ,113 3,478 3,673 2,236 1,437

3,483 1,946 1,537 527 264 263 2,956 1,682 1,274

2,908 1,976 932 540 299 241 2,368 1,677 691

1,519 1,096 423 169 109 60 1,350 987 363

222 FEDERAL DEPOSIT INSURANCE CORPORATION

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K entucky............................................. 1,781 818 963 341 69 272 1,440

Louisiana............................................. 796 364 432 113 21 92 683

M ain e.................................................... 399 94 305 201 42 159 198

M aryland............................................ 1,577 423 1,154 692 77 615 885

Massachusetts................................... 3,026 473 2,553 2,315 321 1,994 711

M ichigan.............................................. 3,386 943 2,443 1,567 289 1,278 1,819

M innesota................ .......................... 1,733 1,154 579 61 51 10 1,672

Mississippi.......................................... 991 470 521 16 7 9 975

M issouri............................................... 4,491 1,541 2,950 2,190 310 1,880 2,301

M ontan a.............................................. 356 177 179 162 65 97 194

N ebraska............................................. 791 531 260 47 29 18 744

24 7 17 24

New Hampshire............................... 40 14 26 7 3 4 33

New Jersey......................................... 4,836 836 4,000 2,895 403 2,492 1,941

New M exico....................................... 100 47 53 17 10 7 83

New Y o rk ........................................... 31,389 2,881 28,508 26,265 1,985 24,280 5,124

North Carolina................................. 1,674 631 1,043 503 85 418 1,171

North D akota................................... 372 266 106 372

O hio........................................................ 6,523 1,467 5,056 4,038 446 3,592 2,485

Oklahom a............................................ 688 395 293 5 3 2 683

Oregon.................................................. 357 135 222 36 19 17 321

Pennsylvania..................................... 10,365 1,685 8,680 6,056 644 5,412 4,309

Rhode Island..................................... 646 84 562 611 77 534 35

South Carolina................................. 432 218 214 39 15 24 393

South D akota.................................... 495 337 158 117 65 52 378

Tennessee............................................ 1,163 623 540 90 26 64 1,073

T exas..................................................... 1,872 951 921 363 178 185 1,509

U ta h ....................................................... 482 154 328 267 74 193 215

Verm ont............................................... 288 98 190 288

Virginia................................................. 1,542 616 926 481 125 356 1,061

W ashington........................................ 767 325 442 396 108 288 371

W est Virginia.................................... 668 253 415 267 67 200 401

Wisconsin............................................ 2,640 1,319 1,321 362 73 289 2,278

W yom in g............................................. 153 80 73 38 18 20 115

749’ 691 2,459 1,541 918 581 2711 310 1,878 1,270 608

343 340 1,183 764 419 221 86 135 962 678 284

52 146 622 260 362 325 126 199 297 134 163

346 539 2,382 1,061 1,321 1,222 445 777 1,160 616 544

152 559 6,037 2,439 3,598 4,763 1,881 2,882 1,274 558 716

654 1,165 4,669 1,996 2,673 2,345 818 1,527 2,324 1,178 1,146

1,103 569 2,203 1,805 398 97 89 8 2,106 1,716 390

463 512 1,305 846 459 15 11 4 1,290 835 455

1,231 1,070 6,301 3,188 3,113 3,672 1,388 2,284 2,629 1,800 829

112 82 588 397 191 319 185 134 269 212 57

502 242 888 729 159 58 44 14 830 685 145

7 17 44 23 21 44 23 21

11 22 61 35 26 12 8 4 49 27 22

433 1,508 9,140 3,584 5,556 5,595 2,031 3,564 3,545 1,553 1,992

37 46 117 81 36 19 16 3 98 65 33

896 4,228 68,689 22,296 46,393 59,353 18,859 40,494 9,336 3,437 5,899

546 625 2,435 1,385 1,050 780 325 455 1,655 1,060 595

266 106 402 348 54 402 348 54

1,021 1,464 10,947 3,967 6,980 7,561 2,026 5,535 3,386 1,941 1,445

392 291 787 593 194 8 6 2 779 587 192

116 205 477 252 225 53 34 19 424 218 206

1,041 3,268 19,621 7,376 12,245 12,287 4,141 8,146 7,334 3,235 4,099

7 28 1,320 480 840 1,262 458 804 58 22 36

203 190 551 369 182 69 37 32 482 332 150

272 106 578 476 102 172 121 51 4C5 355 51

597 476 1,358 929 429 141 71 70 1,217 858 359

773 736 2,471 1,696 775 589 391 198 1,882 1,305 577

80 135 816 400 416 492 232 260 324 ! 168 156

98 190 436 223 213 436 223 213

491 570 2,320 1,343 977 811 375 436 1,509 968 . 541

217 154 1,192 697 495 729 343 386 463 354 109

186 215 1,088 579 509 519 234 285 569 345 224

1,246 1,032 3,591 2,405 1,186 628 282 346 2,963 2,123 840

62 53 228 156 72 51 36 15 177 120 57

EARNINGS OF INSURED COMMERCIAL BANKS 223

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BANK SUSPENSIONS AND RECEIVERSHIPS

T a b le 148. N u m b e r AND DEPOSITS OF BANKS SUSPENDING OPERATIONS DURING 19351

GROUPED BY CLASS OF BANK, BY AMOUNT OF DEPOSITS, AND BY STATES

Number of— Deposits (in thousands of dollars) i n - -2

Insured banks insured banks

Total

Total

Members F. R.

System

N ot

members

F. R.

System

N oninsured

banks

Total

Total

Members F. R.

System

N ot

members

F R.

N oninsured

banks

National State National State System

34 26 4 22 8 9,852 9,005 5,263 3,742 847

B anks w ith deposits o f— 2

15 9 9 6 841 527 527 314

$100 000 to $250 000 13 11 1 10 2 2,352 1,819 194 1,625 533

$250 000 to $500 000 3 3 2 1 876 876 574 302 ;

$500 000 to $750 000 2 2 2 1,288 1,288 1,288

$9 non nnn non non 1 1 1 4,495 4,495 4,495 ,UUU ,UUU lU jUV/U ....................................................

S ta te

California 1

3

1 84 84

Gcorgis 3 3 284 284 284

Illinois 1 1 28 28

Indiana 1 1 18 18

Kansas 3 2 2 1 225 182 182 43

Kentucky 1 1 1 29 29 29

Michi^sn 1 1 1 59 59 59

Missouri 5 2 2 3 886 419 419 467

Nebraska 1 1 1 194 194 194

^Jew Jersey 2 2 2 649 649 649

Ohio 1 1 1 261 261 261

Oklahoma 3 3 3 562 562 562

1 1 1 4,495 4,495 4,495

1 1 1 136 136 136

3 3 3 272 272 .................1.................. 272

1 1 1 313 313

j

313 .................

Wisconsin 5 4 4 1 1,357 1,150 . ..! ............ 1,150 207

in clu d e s (a) Planters State Bank, M ountain Park, Oklahoma, suspended April 10, 1935, and reorganized and reopened as an insured bank, April 23, 1935; (b) Central 

State Bank of Sherman, Sherman, Texas, suspended December 31, 1935, and not placed in receivership until 1936.

2Deposits of insured banks as of date of suspension; deposits of noninsured banks as of latest report date prior to date of suspension.

224 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
T ab le 149. INSURED BANKS PLACED IN RECEIVERSHIP, 1934— 1935

Designating

number

Name and location j

Class |

of bank1 j

Year

of organization

Date of suspension Date receivership

became final

Date of first payment to depositors

by FD IC

Receiver

1

1934

Fon du Lac State Bank, East Peoria, Illinois.......... C 1919 M ay 28, 1934 June 25, 1934 July 3, 1934 State banking authority

2 Bank of America Trust Company, Pittsburgh, Pa. C 1929 April 19, 1934 July 17, 1934 July 19, 1934 State banking authority

3 The First National Bank of Lima, Lima, Montana A 1919 July 18, 1934 July 18, 1934 July 31, 1934 FD IC

4 The Florence Deposit Bank, Florence, Indiana . . . . C 1903 July 18, 1934 July 28, 1934 August 1, 1934

August 15, 1934

State banking authority

5 Bank of Lewisport, Lewisport, K entucky.................. C 1895 August 6, 1934 August 9, 1934 State banking authority

6 Farmers 8b Traders Bank, Porterfield, Wisconsin. . . c 1919 October 11, 1934 October 11, 1934 October 15, 1934 State banking authority

7 The Pickens County Bank, Jasper, Georgia............... c 1909 October 13, 1934 October 30, 1934 November 5, 1934 State banking authority

8 The State Bank, Sauk City, W isconsin....................... c 1906 November 16, 1934 December 3, 1934 December 12, 1934 State banking authority

9 Farmers State Bank of Bongards, Bongards, Minn.

1935

Cliffside Park Title Guarantee 6s Trust C o.,

Grantwood, New Jersey.................................................

c 1915 September 13, 1934 December 17, 1934 January 8, 1935 State banking authority

10

c 1925 January 3, 1935 January 14, 1935 January 23, 1935 State banking authority

11 The National Bank of Herndon, Herndon, Virginia A 1910 January 9, 1935 January 9, 1935 January 28, 1935 FD IC

12 Palmetto State Bank, Lake City, South Carolina . . c 1934 March 9, 1935 March 9, 1935 March 11, 1935

April 5, 1935

State banking authority

13 The First State Bank, Cheyenne, Oklahoma............ c 1898 March 25, 1935 March 25, 1935 FD IC

14 Guaranty State Bank, Clinton, Oklahoma............... c 1910 April 4, 1935 April 4, 1935 April 16, 1935 FD IC

15 The State Bank of M ilford, Milford, K ansas......... c 1906 April 10, 1935 April 10, 1935 April 15, 1935 State banking authority

16 The Farmers Bank, Royston, Georgia......................... c 1907 M ay 2, 1935 M ay 13, 1935 M ay 15, 1935 State banking authority

17 First State Bank of Agra, Agra, K ansas.................... c 1901 M ay 3, 1935 M ay 3, 1935 M ay 13, 1935 State banking authority

18 Blue Springs State Bank, Blue Springs, Missouri. . c 1932 June 1, 1935 June 1, 1935

October 11, 1935

June 14, 1935 State banking authority

19 Anchor State Bank, W est Milwaukee, Wisconsin . . c 1926 June 4, 1935 October 14, 1935 State banking authority

20 State Bank of Suamico, Suamico, Wisconsin............ c 1920 June 24, 1935 June 24, 1935 June 29, 1935 State banking authority

21 Bank of Grantville, Grantville, Georgia...................... c 1901 July 20, 1935 August 2, 1935 August 2, 1935 State banking authority

22 Merchants & Farmers Bank, Marietta, Georgia. . . c 1911 July 22, 1935 August 2, 1935 August 5, 1935 State banking authority

23 The Farmers National Bank of Sardinia, Sardinia,

O h io ........................................................................................... A 1921 July 24, 1935 July 24, 1935 August 5, 1935 FD IC

24 The First National Bank of Pender, Pender,

N ebraska................................................................................. A 1892 June 29, 1935 July 25, 1935 August 7, 1935 FD IC

25 The Commercial National Bank of Bradford,

Bradford, Pennsylvania.................................................. A 1890 September 28, 1935 September 28, 1935 October 21, 1935 FD IC

26 Buna State Bank, Buna, T exas....................................... C 1915 October 23, 1935 October 28, 1935 November 13, 1935 State banking authority

27 Presidio Valley Bank, Presidio, Texas......................... c 1929 November 18, 1935 November 18, 1935 December 16, 1935 State banking authority

28 Lennon State Bank, Lennon, M ichigan...................... c 1924 November 26, 1935 November 26, 1935 December 7, 1935 State banking authority

29 Bank of Linden, Linden, W isconsin.............................. c 1903 November 27, 1935 November 27, 1935 December 13, 1935 State banking authority

30 Farmers Bank of Chariton County, Keytesville,

M issouri................................................................................... c 1880 December 5, 1935 December 5, 1935 December 16, 1935 State banking authority

31 Friendship State Bank, Friendship, W isconsin.. . .

Livingston State Bank, Livingston, New Jersey..

c 1910 December 7, 1935 December 7, 1935 December 20, 1935 State banking authority

32 c 1928 December 14, 1935 December 24, 1935 ’ December 27, 1935 State banking authority

33 The Farmers Bank, W est Louisville, K entucky.. .. c 1910 December 16, 1935 December 16, 1935 December 26, 1935 State banking authority

1A— N ational bank member of the Federal Reserve System; B— State bank member of the Federal Reserve System; C— Bank not member of the Federal Reserve System.

BANK SUSPENSIONS AND RECEIVERSHIPS 225

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
esig

itin

mb<

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

2122

23

24

25

26

27

28

29

30

31

32

33

i ;

T ab le 150. ASSETS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934— 1935

AS SHOWN BY BOOKS OF BANKS AT DATE OF SUSPENSION

Banking

house,

furniture

and fixtures

Other real

estate

Other

assets

$538,420 $362,593 $1,666,968

79,365 120,319 69,565

5,281

24,461

6,500

1,600

7,000

36,294

52,210

100

14,892

26,930

21,990

46815,700

4,700

10,423

12,900

6,500

459,055

8,260

7,855

| . 700

4,485

242,274 1,597,403

176,131

7,916

769

66,475

5,600

^ 1,365,709

8,654

115,165

2,534

4,290

10,000

2,000

1,754

5,900

2,052

14,772

6,263

13,094

11,000

1,335

20,000

7,200

471

900

2,015

4531,300

3,000

35,000

13,100

8,285

29,431

8,796

12,000

1,082

631

1,129

14,361

119,915 10,816 62,126

7,670

6,956

5,394

7.000

4.000

4,961

6,694

417

13,290

28,806

8,628

2,372

593

1,000

4,021

800

1,035

14,598

5,862

559

652

Name and location

T o ta l, 1934-1935 (33 b a n k s )...................................................................

T o ta l, 1934 (9 b a n k s ).............................................................................

Fon du Lac State Bank, East Peoria, Illinois..................................

Bank of America Trust Company, Pittsburgh, Pennsylvania. .

The First National Bank of Lima, Lima, M ontana.......................

The Florence Deposit Bank, Florence, Indiana...............................

Bank of Lewisport, Lewisport, Kentucky...........................................

Farmers & Traders Bank, Porterfield, W isconsin...........................

The Pickens County Bank, Jasper, Georgia.......................................

The State Bank, Sauk City, Wisconsin................................................

Farmers State Bank of Bongards, Bongards, M innesota............

T o ta l, 1935 (24 b a n k s )..........................................................................

Cliffside Park Title Guarantee & Trust Co., Grantwood, N . J.

The National Bank of Herndon, Herndon, Virginia......................

Palmetto State Bank, Lake City, South Carolina..........................

The First State Bank, Cheyenne, O klahom a....................................

Guaranty State Bank, Clinton, O klahom a.........................................

The State Bank of Milford, Milford, Kansas....................................

The Farmers Bank, Royston, Georgia..................................................

First State Bank of Agra, Agra, K ansas.............................................

Blue Springs State Bank, Blue Springs, M issouri...........................

Anchor State Bank, W est Milwaukee, W isconsin...........................

State Bank of Suamico, Suamico, W isconsin....................................

Bank of Grantville, Grantville, G eorgia.............................................

Merchants 8b Farmers Bank, Marietta, Georgia.......... ..................

The Farmers National Bank of Sardinia, Sardinia, Ohio............

The First National Bank of Pender, Pender, Nebraska..............

The Commercial National Bank of Bradford, Bradford, P a ... .

Buna State Bank, Buna, T exas................................................................

Presidio Valley Bank, Presidio, Texas...................................................

Lennon State Bank, Lennon, M ichigan...............................................

Bank of Linden, Linden, Wisconsin........................................................

Farmers Bank of Chariton County, Keytesville, M issouri. . . .

Friendship State Bank, Friendship, W isconsin.................................

Livingston State Bank, Livingston, New Jersey.............................

The Farmers Bank, W est Louisville, Kentucky...............................

Total

assets

$14,985,275

2,661,327

373,780

1,434,996

90,870

105,466

81,079

45,549

243.050

195,038

91,499

12,323,948

2,304,923

386,897

148,542

427,433

264.050

118,096

166,367

129,456

234,807

890,787

161,196

90,708

226,546

308,215

301,146

5,162,042

47,009

73,188

79,062

224,176

286,594

146,862

91,233

54,613

Cash and

due from

banks

United

States j Other

Government securities

securities

$2,159,237

185,056

86,439

24,321

6,404

5,855

1,972

3,049

22,398

17,502

17,116

1,974,181

27,745

18,819

32,608

20,801

30,880

40,531

30,852

7,132

46,034

105,745

46,394

10,938

13,597

44,932

34,113

1,217,990

17,244

27,225

15,429

53,146

80,714

29,198

3,457

18,657

$1,301,959

603,519

16,173

563,379

1,417

16,150

6,400

56,950

52,500

200

5,000

17,800

11,067

14,700

16,244

25,390

10,230

10,962

34,201

408,728

5,200

1,780

5,500

21,388

600

Loans, discounts, and

overdrafts

$784,117

273,638

2,000

184,730

31,984

11,944

466

9,728

1,600 21,666

9,520

510,479

133,671

2,250

82,352

63,845

586

3,250

438

12,057

5,368

5,335

87,144

12,626

67,229

966

407

1,995

3,569

20,180

7,211

158,171,981

1,329,865

227,493

571,003

17,635

64,077

55,473

19,112

184,624

132,085

58,363

6,842,116

478,242

291,158

311,546

152,135

55,959

95,996

101,340

171,400

734,726

75,091

67,403

132,322

142,152

193,845

3,275,238

15,751

18,616

51,044

127,503

187,159

73,502

61,946

28,042

ludes trusteed assets of $1,289,905 to secure guaranteed participation certificates of $1,225,810.

226 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 151. L IA B IL IT IE S OF IN SU R ED B A N K S PL A C E D IN R E C E IV E R S H IP , 1934— 1935

AS SHOW N B Y BOOKS OF BAN KS A T D ATE OF SUSPENSION

Designating

number

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

2122

23

24

25

26

27

28

29

30

31

32

33

Nam e and location

T o ta l, 1934-1935 (33 b a n k s)...................................................................

T o ta l, 1934 (9 b a n k s)............................................................................

Fon du Lac State Bank, East Peoria, Illinois..................................

Bank of America Trust Company, Pittsburgh, Pennsylvania. .

The First National Bank of Lima, Lima, M ontana......................

The Florence Deposit Bank, Florence, Indiana...............................

Bank of Lewisport, Lewisport, Kentucky...........................................

Farmers & Traders Bank, Porterfield, Wisconsin..........................

The Pickens County Bank, Jasper, Georgia......................................

The State Bank, Sauk City, Wisconsin................................................

Farmers State Bank of Bongards, Bongards, M innesota............

T o ta l, 1935 (24 b a n k s )..........................................................................

Cliffside Park Title Guarantee & Trust Co., Grantwood, N. J.

The National Bank of Herndon, Herndon, Virginia.....................

Palmetto State Bank, Lake City, South Carolina..........................

The First State Bank, Cheyenne, Oklahoma....................................

Guaranty State Bank, Clinton, Oklahoma........................................

The State Bank of Milford, Milford, Kansas....................................

The Farmers Bank, Royston, Georgia..................................................

First State Bank of Agra, Agra, Kansas.............................................

Blue Springs State Bank, Blue Springs, Missouri..........................

Anchor State Bank, W est Milwaukee, Wisconsin..........................

State Bank of Suamico, Suamico, Wisconsin....................................

Bank of Grantville, Grantville, Georgia..............................................

Merchants & Farmers Bank, Marietta, Georgia.............................

The Farmers National Bank of Sardinia, Sardinia, O hio............

The First National Bank of Pender, Pender, Nebraska..............

The Commercial National Bank of Bradford, Bradford, Pa. .. .

Buna State Bank, Buna, T exas...............................................................

Presidio Valley Bank, Presidio, Texas..................................................

Lennon State Bank, Lennon, Michigan..............................................

Bank of Linden, Linden, Wisconsin.......................................................

Farmers Bank of Chariton County, Keytesville, M issouri. . . .

Friendship State Bank, Friendship, Wisconsin................................

Livingston State Bank, Livingston, New Jersey.............................

The Farmers Bank, W est Louisville, K entucky..............................

Total

liabilities

$14,985,275

2,661,327

373,780

1,434,996

90,870

105,466

81,079

45,549

243.050

195,038

91,499

12,323,948

2,304,923

386,897

148,542

427,433

264.050

118,096

166,367

129,456

234,807

890,787

161,196

90,708

226,546

308,215

301,146

5,162,042

47,009

73,188

79,062

224,176

286,594

146,862

91,233

54,613

Deposits

secured and

preferred

$1,283,764

720,235

10,000

692,500

$1,904,480

77,630

7,129

10,606

563,529

65,915

71,700

52.000

3,925

16.000

6,501

8,821

20,200

3,180

9,557

66,922

15,248

212,177

5,000

6,383

Other

secured

liabilities

Deposits

not secured

and not

preferred

43,630

25,000

9,000

1,826,850

1,564,363

64,715

22,711

23,060

3,000

9,978

100,000

$9,368,713

1,231,757

226,073

369,994

39,688

69,065

67,940

31,663

195,294

169,907

62,133

8,136,956

576,993

246,801

135,614

229,712

122.605

82,723

91,561

89,449

181,214

690,822

124,922

47,533

119.605

194,176

178,793

4,282,848

16,696

35,827

54,415

180,050

229,148

125,251

71,600

28,598

Other

unsecured

liabilities

$312,369

27,333

7,036

6,487

182

1,401

55

10

11,239

62

861

285,036

47,884

25,144

640

5,201

10,346

3,584

3,604

2.744

6,500

12,907

192

371

5,143

5,380

9,918

121,857

262

13,057

1.745

40

51

453

8,013

Debentures

$330,500

80,000

40,000

5,000

25,000

10,000

250,500

15.000

7,500

15.000

10.000

20,000

15.000

18.000

60,000

25,000

5.000

5.000

10,000

35,000

Common

stock

$1,354,600

432.100

50.000

262.100

25.000

25.000

15.000

10.000

15.000

20.000 

10,000

922,500

100,000

25.000

10.000

50.000

50.000

10.000

25.000

10.000

15.000

40.000

15.000

25.000

25.000

30.000

25.000

300,000

20.000

20,000 

20,000 

20,000 

12,500

10,000

50.000

15.000

Other

capital

accounts

(1 2)

$430,849

92,272

40,671

60,285

1,000

10,000

1,916

1,124

10,612

3,931 2,101

338,577

15,683

24,037

2,288

6,105

6,388

2,864

358

2,762

3,294

6,858

2,902

196

7,241

11,737

13,164

245,160

51

696

353

5,998

9,906

1,560

30 ,820

3,002

1This item includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books. 

3Italics indicate net operating deficit.

BANK SUSPENSIONS AND RECEIVERSHIPS 227

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 152. DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP, 1934— 1935

REVISED TO DECEMBER 31, 1935

Designating

number

10

11

12

13

14

15

16

17

18 

19

2GL

21

22

23

24

25

26

27

28

29

30

31

32

33

Name and location

T o ta l, 1934-1935 (33 ban ks).

T o ta l, 1934 (9 b a n k s)..........

Fon du Lac State Bank, East Peoria, Illinois................................

Bank of America Trust Company, Pittsburgh, Pennsylvania.

The First National Bank of Lima, Lima, M ontana....................

The Florence Deposit Bank, Florence, Indiana............................

Bank of Lewisport, Lewisport, Kentucky.........................................

Farmers & Traders Bank, Porterfield, W isconsin...............

The Pickens County Bank, Jasper, Georgia..........................

The State Bank, Sauk City, Wisconsin....................................

Farmers State Bank of Bongards, Bongards, Minnesota .

T o ta l, 1935 (24 b a n k s).................................................................

Cliffside Park Title Guarantee & Trust Co., Grantwood, New Jersey.

The National Bank of Herndon, Herndon, Virginia....................................

Palmetto State Bank, Lake City, South Carolina........................................

The First State Bank, Cheyenne, Oklahom a..................................................

Guaranty State Bank, Clinton, Oklahom a.......................................................

The State Bank of Milford, Milford, K ansas..................................................

The Farmers Bank, Royston, Georgia................................................................

First State Bank of Agra, Agra, K ansas...........................................................

Blue Srpings State Bank, Blue Springs, M issouri.........................................

Anchor State Bank, W est Milwaukee, Wisconsin.........................................

State Bank of Suamico, Suamico, W isconsin..................................................

Bank of Grantville, Grantville, Georgia...............................................................

Merchants & Farmers Bank, Marietta, Georgia..............................................

The Farmers National Bank of Sardinia, Sardinia, O hio............................

The First National Bank of Pender, Pender, Nebraska..............................

The Commercial National Bank of Etradford, B radford, Pennsylvania.

Buna State Bank, Buna, T e xas................................................................................

Presidio Valley Bank, Presidio, Texas...................................................................

Lennon State Bank, Lennon, M ichigan................................................................

Bank of Linden, Linden, Wisconsin........................................................................

Farmers Bank of Chariton County, Keytesville, Missouri..........................

Friendship State Bank, Friendship, W isconsin................................................

Livingston State Bank, Livingston, New Jersey.............................................

The Farmers Bank, W est Louisville, K entucky..............................................

Total1 Insured2 Secured and

preferred

Subject to

offset

Uninsured,

unsecured, not

preferred and

not subject

to offset

Restricted

and deferred

deposits

uninsured

$10,983,259 $7,053,667 $1,207,212 $655,985 $1,990,108 $76,287

1,965,119 940,416 755,533 95,100 102,786 71,284

239,124 104,567 43,306 14,305 76,946

1,059,783 315,311 692,603 45,934 5,935

41,643 37,902 3,000 741

68,962 66,094 368 2,500

68,148 64,070 4,078

31,733 27,641 2,792 1,300

212,636 187,737 7,129 15,870 1 ,900

170,351 120,840 7,479 16,705 25,327

72,739 16,254 9,495 3,533 43,457

9,018,140 6,113,251 451,679 560,885 1,887,322 5,003

589,684 562,151 16,266 11,267

383,512 282,960 27,618 29,670 4 3 ’,264

136,082 135,582 500

?,302,504 3217,271 40,654 12,870 31,709

4! 76,169 j <129,406 35,189 6,237 5,337

86,812 ! 70,112 3,133 1,477 12,090

107,563 87,610 11,685 8,268

96,072 83,322 3,290 2,760 6,700

234,092 1 199,680 -5,064 7,984 21,364

717,842 j 441,394 15,314 115,826 145,308

128,102 113,084 3,180 10,560 1,278

47,551 45,493 2,058

132,280 1 112,394 9,557 9,912 417 ..........................

261,180 ! 186,197 63,026 10,304 1,653

194,509 .......................... I 166,329 15,248 11,438 1,444

4,621,463 ! 2,577,169 212,177 2 76,124 1,555,993

28,894 | 28,046 ! 848 1

48,898 35,869 4,192 8,837

73,544 63,924 ! 5,000 4,620

188,276 175,129 j 1,544 10,655 948

229,148 182,105 .......................... 11,474 ! 35,569

125,301 117,669 3,988 3,644

72,051 70,518 .......................... 1,533

36,611 29,837 1,771 .......................... ; 5,003

r rhe am ount of deposits given in Table 150 as shown by the books of the banks at date of suspension differs from the am ount shown on De 

fact that during the process of deposit paym ent some new items were discovered and the status of other items with regard to insur 

2Does not include insured deposits which are also preferred or secured.

3Includes S4 >,429 representing disputed claims.

4Includes $10,000 representing disputed claims.

3 i, r

as chan

>35, d

,red.

u e to the

toto

00

H

o

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o

H

Tl

O

w

2

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&

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o

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 153. PAYMENTS TO DEPOSITORS OF

D esign a ­

ting

n um ber

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16 

J 7 

18

19

20

2122

23

24

25

26

27

28

29

30

31

32

33

N am e and location

T o ta l, 1934-1935 (33 b a n k s)....................................................................................

T o ta l, 1934 (9 b a n k s).............................................................................................

Fon du Lac State Bank, East Peoria, Illinois.................................................

Bank of America Trust Company, Pittsburgh, Pennsylvania.................

The First National Bank of Lima, Lima, M ontana.....................................

The Florence Deposit Bank, Florence, Indiana.............................................

Bank of Lewisport, Lewisport, Kentucky..........................................................

Farmers & Traders Bank, Porterfield, Wisconsin..........................................

The Pickens County Bank, Jasper, Georgia.....................................................

The State Bank, Sauk City, Wisconsin..............................................................

Farmers State Bank of Bongards, Bongards, M innesota..........................

T o ta l, 1935 (24 b a n k s )...........................................................................................

Cliffside Park Title Guarantee 8s Trust Co., Grantwood, New Jersey.

The National Bank of Herndon, Herndon, Virginia....................................

Palmetto State Bank, Lake City, South Carolina.........................................

The First State Bank, Cheyenne, Oklahoma...................................................

Guaranty State Bank, Clinton, Oklahoma.......................................................

The State Bank of Milford, Milford, Kansas..................................................

The Farmers Bank, Royston, Georgia................................................................

First State Bank of Agra, Agra, Kansas............................................................

Blue Springs State Bank, Blue Springs, Missouri.........................................

Anchor State Bank, W est Milwaukee, Wisconsin.........................................

State Bank of Suamico, Suamico, Wisconsin..................................................

Bank of Grantville, Grantville, Georgia............................................................

Merchants & Farmers Bank, Marietta, Georgia...........................................

The Farmers National Bank of Sardinia, Sardinia, Ohio..........................

The First National Bank of Pender, Pender, Nebraska.............................

The Commercial National Bank of Bradford, Bradford, Pennsylvania

Buna State Bank, Buna, T e x as..............................................................................

Presidio Valley Bank, Presidio, Texas.................................................................

Lennon State Bank, Lennon, M ichigan.............................................................

Bank of Linden, Linden, W isconsin.....................................................................

Farmers Bank of Chariton County, Keytesville, Missouri........................

Friendship State Bank, Friendship, Wisconsin...............................................

Livingston State Bank, Livingston, New Jersey...........................................

The Farmers Bank, W est Louisville, K entucky............................................

^ o e s n ot in clude insured de posits which are also preferred or secured. “ P ai d ’ : 

2I n clu des $49 ,4 29 represen ti ng disp u ted claims.

3In clu des $10,000 representing disputed claims.

B a n k s P l a c e d in R e c e i v e r s h i p , 1934— 1935

N um ber o f depositors ! Insured deposits1

T otal Paid b y 

F D IC

F u lly paid 

b y offset U npaid T ota l Paid U npaid

47,336 32,379 2,847 12,110 $7,053,667 $6,369,128 $684,539

15,525 31,184 896 3,445 940,416 921,759 18,657

1,816 1,150 190 476 104,567 ! 96,108 8,459

9,783 7,161 260 2,362 315,311 311,390 3,921

182 170 12 37,902 > 37,902

302 259 43 66*094 ! 66,094

790 629 120 41 64,070 63,842 228

220 170 34 16 27,641 27,630 11

1,332 806 143 383 187,737 187,028 709

837 618 69 150 120,840 115,564 5,276

263 221 25 17 16,254 16,201 53

31,811 21,195 1,951 8,665 6,113,251 5,447,369 665,882

4,140 3,715 83 342 562,151 ! 547,177 14,974

1,821 1,082 199 540 282,960 275,972 6,988

403 396 7 135,582 I 135,551 31

1,161 727 164 270 2217,271 143,656 273,615

436 289 27 120 3129,406 112,069 S17,337

362 299 39 24 70,112 70,059 53

1,367 678 100 589 87,610 82,245 5,365

335 286 43 6 83,322 83,313 9

634 484 97 53 199,680 135,733 63,947

4,308 3,395 197 716 441,394 423,496 17,898

509 377 51 81 113,084 112,367 717

290 259 21 10 45,493 45,018 475

1,645 1,024 181 440 112,394 108,044 4,350

971 785 99 87 186,197 181,307 4,890

694 502 99 93 166,329 164,867 1,462

9,052 4,689 361 4,002 2,577,169 2,241,895 335,274

248 193 18 37 28,046 27,309 737

193 117 21 55 35,869 24,581 11,288

465 350 40 75 63,924 62,759 1,165

484 381 38 65 175,129 163,371 11,758

701 433 54 214 182,105 156,569 25,536

724 375 17 332 117,669 101,752 15,917

570 234 336 70,518 25,443 45,075

298 125 2 171 29,837 22,816 7,021

'lumn includes payments m ale to December 31, 1935.

SANK SUSPENSIONS AND RECEIVERSHIPS 229

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230 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 154. ASSETS, LIABILITIES, AND CAPITAL OF 

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 ,

A u g u st 22, 1935

ASSE TS

C ASH O N H A N D A N D O N D E P O S IT .................................. $ 12,314,477.60

U N IT E D ST A T E S G O V E R N M E N T SE C U R IT IE S—

(cost less reserve for amortization of premiums) A N D

A C C R U E D IN T E R E S T R E C E IV A B L E ............................. 322,366,564.22

ASSETS A C Q U IR E D T H R O U G H B A N K SUSPEN SIO NS:

Subrogated claims of depositors against closed insured

banks................................................................................................. $ 2,682,777.58

N et balances of depositors in closed insured banks

pending settlement or not claimed, to be subrogated

when paid— contra..................................................................... ...........332,346.54

$ 3,015,124.12

Less: Reserve for losses............................................................. 1,572,324.90

F U R N IT U R E , F IX T U R E S , A N D E Q U IP M E N T (less reserve for depreciation)

D E F E R R E D C H A R G E S A N D M ISC E L L A N E O U S ASSE TS..............................

T O T A L A S S E T S ..............................................................................................................

L IA B IL IT IE S

C U R R E N T L IA B IL IT IE S :

Accounts and assessment rebates payable................................ $ 223,618.20

N et balances of depositors in closed insured banks pending

settlement or not claimed— contra.......................................... 332,346.54

U N U S E D C R E D IT S FO R ASSE SSM E N T S P A ID TO T E M P O R A R Y

F E D E R A L D E P O SIT IN S U R A N C E F U N D S ............................................................

R E SE R V E FO R U N D E T E R M IN E D E X P E N S E S A N D LOSSES.

T O T A L L IA B IL IT IE S ...............................................................................

C A P IT A L

C A P IT A L S T O C K :

United States.......................................................................................... $150,000,000.00

Federal Reserve banks....................................................................... 139,299,556.99

SU R PLUS— (September 11, 1933, to August 22, 1935):

Interest earned and profit on sales of securities (less provision for amortization of premiums).................................... $ 12,521,367.78

Deductions:

Deposit insurance losses and expenses..................................................... $ 1,670,285.42

Administrative expenses.................... 5,927,908.50

Provision for undetermined expenses and losses.............................. 67,914.94

Provision for depreciation of furniture, fixtures, and equipment 44,703.86 7,710,812.72

$ 4,8107555.06

Add— Portion of deficit as of June 30, 1934, allocated to

members of the Fund that withdrew as of that date or

in voluntary liquidation prior thereto................................... 151,023.33

T O T A L C A P IT A L .

$334,681,041.82

1,442,799.22

124,568.65

45,474.76

$336,293,884.45

$ 555,964.74

41,377,849.00

98,935.33

$ 42,032,749.07

$289,299,556.99

4,961,578.39

$294,261,135.38

T O T A L L IA B IL IT IE S AN D C A P IT A L $336,293,884.45

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INDEX

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Federal Reserve Bank of St. Louis
I N D E X

Admissions to insurance: Pase

Capital requirements................................................................................................. 28

During 1935.................................................................................................................. 18-21

Legal provisions.......................................................................................................... 70—71

Under temporary plan.............................................................................................. 55—59

Advertising of membership in Fund....................................................................... 26, 92—95

Assessments. See Permanent Federal deposit insurance plan; Temporary

Federal deposit insurance plan.

Assets and liabilities of banks:

All commercial banks, semiannually 1934-35.................................................. 170

All mutual savings banks, semiannually 1934-35........................................... 171

Changes during 1935 and factors in growth..................................................... 37—40

Insured banks placed in receivership, 1934-35.......... .................................. 226, 227

Insured commercial banks, call dates, 1934-35............................................... 172—75

Insured commercial banks not members of the Federal Reserve System:

Call dates, 1934-35............................................................................................ 172-75

Grouped by amount of deposits and by States, latest examination

in 1935............................................................................................................... 182-83

Grouped by amount of deposits, Dec. 31, 1935..................................... 176—81

Insured mutual savings banks, Dec. 31, 1934 and 1935.............................. 50

Noninsured banks................................................................................................... 170, 171

Assets and liabilities of the Federal Deposit Insurance Corporation................12, 230

Assets, examiners’ analyses, insured commercial banks not members of the

Federal Reserve System, grouped by amount of deposits and by States:

Appraised values: losses, doubtful, slow, not criticized and net sound

value, latest examination in 1935..................................................... 40-41, 184-91

Ratios of losses and doubtful items, and of slow assets, to total book

value of assets, 1933-35........................................................................................ 192—93

Bank examinations. See Examinations of banks.

Banking Act of 1935. See Law, revised deposit insurance.

Banking house, furniture and fixtures. See Assets and liabilities of banks.

Banking structure, changes during 1935..................................................................... 35—37

Banks. See Insured banks; Mutual savings banks.

Bennett, E. G., resignation as director of Federal Deposit Insurance Corporation ............................................................................................................................... 8

Bills payable. See Assets and liabilities of banks.

Board of Directors of the Federal Deposit Insurance Corporation.................. 3, 68

Board of Governors of the Federal Reserve System:

Regulations and rulings............................................................................................ 104

Regulation of interest rates..................................................................................... 30

Termination of insured status of banks............................................................. 74-75

Borrowed money. See Assets and liabilities of banks.

Branch banking:

Definition....................................................................................................................... 70, 121

Establishment and change of location of branches....................................... 22

Number of branches, and of banks operating branches. See Number

of operating banks; Number of operating branches.

Policy of Federal Deposit Insurance Corporation regarding..................... 29—30

Bureau of the Budget......................................................................................................... 11

Capital of banks (see also Assets and liabilities of banks):

Net sound capital:

Definition.............................................................................................................. 42

Insured commercial banks not members of the Federal Reserve

System................................................................................................ 42—43, 182—83

Policy of Federal Deposit Insurance Corporation regarding............ 28-29

Ratios to net sound assets, to deposits and to total capital account. 194-95

Reductions and retirements approved by the Federal Deposit Insurance

Corporation.............................................................................................................. 22

Supplied by Reconstruction Finance Corporation 43, 50—51, 182—83, 196, 197

Total capital account:

Definition.............................................................................................................. 41

Insured commercial banks, change during 1935.................................... 41

Insured mutual savings banks, change during 1935............................ 50-51

233

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234 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Capital of the Federal Deposit Insurance Corporation.........................................12, 230

Subscription to stock by Federal Reserve banks and United States

Government.............................................................................................................. 9, 70

Cash and amounts due from banks. See Assets and liabilities of banks.

Certified statement of deposits:

Date for filing............................................................................................... 10—11, 72, 106

Forms and instructions for preparing................................................................. 104—17

Legal provisions................................................................................................... 72—74, 105

Chartering of banks............................................................................................................ 29

Circulating notes of national banks, call dates, 1934-35...................................... 174

Commercial banks. See Assets and liabilities of banks; Capital of banks;

Deposits; Number of operating banks; Number of operating branches.

Comptroller of the Currency (see also Law, revised deposit insurance):

Chartering of national banks.................................................................................. 29

Director of the Federal Deposit Insurance Corporation............................. 8

Condition reports (required by Federal Deposit Insurance Corporation. . .. 76—77

Consolidations and mergers:

Banks insured under temporary plan ............................................................ 60—61

Insured with noninsured banks ....................................................................... 20, 85

Number, 1935 ....................................................................................................... 145

Crowley, Leo T., Chairman of Board of Directors.................................................. 8

Demand deposits. See Deposits.

Deposit insurance national banks:

Definition....................................................................................................................... 69

Legal provisions for ............................................................................................. 79—80

Organization and capitalization............................................................................ 15—16

Deposit liabilities for assessment purposes................................................. 25-27, 104-11

Deposits:

By class of bank:

Dec. 31, 1934, and Dec. 31, 1935................................................................ 168

Dec. 31, or daily average Oct. 1 to Dec. 31, 1935................................ 150-55

By States and possessions...................................................................... 150-67, 182-83

By type of deposits......................................................................... .. 174, 177, 179, 181

Certified statement of. See Certified statement of deposits.

Changes during 1935:

By States (chart)............................................................................................... 39

Factors in growth.............................................................................................. 40

Related to bank changes................................................................................ 168-69

Definition.......................................................................................................... 69-70, 90-91

Demand:

Amount......................................................................................... 174, 177, 179, 181

Definition.............................................................................................................. 96

Prohibition of interest...................................................................................... 97

In all commercial banks...................................................................... 150-63, 168, 170

In all insured banks:

Dec. 31, 1934, and Dec. 31, 1935................................................................ 168

Dec. 31, or daily average Oct. 1 to Dec. 31, 1935................................ 150-55

In all mutual savings banks............................................. 150-55, 166-67, 168, 171

In banks grouped by amount of deposits......................................... 150-67, 176-82

In banks operating branches .............................................. 154-55, 160-63, 166-67

In insured commercial banks:

Call dates, 1934-35......................................................................................... 170, 174

Daily average, Oct. 1 to Dec. 31, 1935..................................................... 150-59

Dec. 31, 1934, and Dec. 31, 1935................................................................ 168

In insured commercial banks not members of the Federal Reserve

System :

At time of latest examination, banks operating Dec. 31, 1935. . .. 182

Call dates, 1934-35............................................................................................ 174

Daily average, Oct. 1 to Dec. 31, 1935..................................................... 150-55

Dec. 31, 1934, and Dec. 31, 1935................................................................ 168

In insured mutual savings banks:

Call dates, 1934-35............................................................................................ 171

Dec. 31, 1934, and Dec. 31, 1935................................................................ 168

Dec. 31, 1935...................................................................................... 150-55, 164-65

In noninsured banks.................................................. 150-59, 164-65, 168, 170, 171

Insured. See Insured deposits.

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INDEX 235

Deposits— Continued Pase

In suspended banks (see also Receiverships of insured banks).............. 168, 224

In unit banks........................................................................... 152-53, 160-63, 166-67

Interest on. See Interest.

Payments of to insured depositors. See Receiverships of insured banks.

Release of restricted deposits................................................................................. 22-23

Savings and time deposits:

Amount......................................................................................... 174, 177, 179, 181

Definitions............................................................................................................ 96-97

Regulation of interest and conditions of withdrawal........................... 98-99

Disposition of profits. See Earnings, expenses, and disposition of profits.

District banks, legal definition........................................................................................ 69

Districts, Federal Deposit Insurance Corporation.................................................. 9, 23

Dividends. See Earnings, expenses, and disposition of profits.

Dividends to depositors. See Receiverships of insured banks.

Division of Examination. See Examinations of banks.

Doubtful assets. See Assets, examiners’ analyses.

Earnings, expenses, and disposition of profits, insured banks:

Commercial banks, 1935.......................................................................................... 44-48

Commercial banks, by class, 1934 and 1935.................................................... 198-99

Commercial banks not members of the Federal Reserve System operating throughout 1935, grouped by amount of deposits..................... 216-21

Commercial State banks operating throughout 1935, grouped by

amount of deposits................................................................................................. 200-15

Commercial State banks reporting net earnings from current operations,

1935........................................................................................... 204-05, 208-09, 212-13

Commercial State banks reporting net losses from current operations,

1935........................................................................................... 206-07, 210-11, 214-15

Mutual savings banks............................................................................................... 50-51

Effective date of Banking Act of 1935, legal definition........................................ 70

Employees:

Federal Deposit Insurance Corporation............................................................. 9

Insured commercial State banks........................................................................... 222-23

Examinations of banks:

Analysis of assets. See Assets, examiners’ analyses.

Discussion...................................................................................................................... 23-24

Legal provisions........................................................................................................... 76, 77

Expenses. See Earnings, expenses, and disposition of profits.

Expenses of the Federal Deposit Insurance Corporation during 1935___ 10-11, 13

Failures. See Suspensions; Receiverships of insured banks.

Federal Deposit Insurance Corporation (see also Law, original deposit

insurance; Law, revised deposit insurance):

Action on applications from banks...................................................................... 18-23

Analysis of surplus..................................................................................................... 13

Assessments. See Assessments.

Assets and liabilities........................... ...................................................................... 12, 230

Board of Directors...................................................................................................... 3

Capital stock................................................................................................................. 9

Creation.......................................................................................................................... 3

Divisions and offices, changes in........................................................................... 9

Expenses and income........................................................................................... 10-11, 13

Financial aspects......................................................................................................... 9-13

Forms and instructions............................................................................................. 104-17

Loans to insured banks............................................................................................ 17-18

Organization and personnel..................................................................................... 9

Problems and policies................................................................................................ 28-31

Procedure for paying depositors...................................................................... 11, 14-16

Purchase of assets of insured banks..................................................................... 17

Receiver for suspended insured banks.................................................. ............. 16-17

Recommendations for State legislation.............................................................. 27-28

Regulations and rulings............................................................................. 24-27, 87-103

Forms and instructions for preparing certified statement of deposits............... 104-17

Fund for Mutuals.......................................................................... 48-49, 56, 57, 67, 73, 78

Goldsborough, Phillips Lee, director Federal Deposit Insurance Corporation 8

Home Owners’ Loan Corporation bonds........................... ......................................... 38

Instructions for preparing certified statement of deposits................................... 104-17

Insurance coverage, amount of. See Insured deposits.

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236 FEDERAL DEPOSIT INSURANCE CORPORATION

Insured banks. See Page

Admissions to insurance;

Assessments;

Assets and liabilities of banks;

Assets of banks;

Branch banking;

Capital of banks;

Certified statement of deposits;

Consolidations and mergers;

Deposits;

Earnings, expenses, and disposition of profits;

Examinations of banks;

Law, revised deposit insurance;

Number of operating banks;

Number of operating banks and branches;

Number of operating branches;

Officers and employees;

Receiverships of insured banks;

Supervision of insured banks;

Suspensions;

Terminations of insurance.

Insured commercial banks (see also Insured banks)............................................... 37-48

Insured commercial banks not members of the Federal Reserve System.

See Insured banks.

Insured commercial State banks. See Insured banks.

Insured deposits:

Amount of..................................................................................................................... 63-64

In banks no longer insured..................................................................................... 75-76

Maximum for each depositor:

Under permanent plan.................................................................................... 7, 78

Under temporary plan................................................................ 7, 10, 55-56

Insured mutual savings banks (see also Insured banks)....................................... 48-51

Interest:

On deposits (see also Earnings, expenses, and disposition of profits):

Definition.............................................................................................................. 97

Paid by insured commercial banks............................................................. 47

Regulation by Board of Governors of the Federal Reserve System 30, 100

Regulation by Federal Deposit Insurance Corporation.................... 26,

30, 85-86, 95-101

On loans and securities............................................................................................. 47

Law, original deposit insurance:

Assessments.................................................................................................................. 8

Capital............................................................................................................................ 9

Duration of temporary plan of insurance......................................................... 7

Insurance coverage..................................................................................................... 7, 10

Law, revised deposit insurance....................................................................................... 68-86

Admissions to insurance..................................................................................... 18, 70-71

Annual report............................................................................................................... 83

Assessments................................................................................. 8, 10-11, 72-74, 84-85

Board of Directors...................................................................................................... 68

Capital............................................................................................................................ 9, 70

Certified statements...................................................................................... 10-11, 72-74

Comptroller of the Currency..................................................................... 74-75, 78-80

Condition reports........................................................................................................ 76-77

Consolidations and mergers.................................................................................... 85

Creation.......................................................................................................................... 68

Definitions:

Branch................................................................................................................... 70

Closed bank......................................................................................................... 78

Deposit.................................................................................................................. 69-7 0

District bank....................................................................................................... 69

Effective date...................................................................................................... 70

Insured bank....................................................................................................... 69

Insured deposit................................................................................................... 70

Mutual savings bank........................................................................................ 69

National member bank.................................................................................... 69

National nonmember bank............................................................................ 69

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Law, revised deposit insurance— Continued Page

Definitions— Continued

New bank........... ................................................................................................. 69

Noninsured bank............................................................................................... 69

Receiver................................................................................................................ 69

Savings bank.......................................................................................................69, 100

State bank............................................................................................................ 68

State member bank.......................................................................................... 69

State nonmember bank................................................................................... 69

Transferred deposit........................................................................................... 70

Deposit insurance national banks........................................................................ 79-80

Depository and fiscal agent of the Government............................................. 81

Display of membership sign................................................................................... 26, 84

Establishment of branches...................................................................................... 85

Examination of banks........................................................................................ 76, 77, 85

Extension of temporary plan........................................................................... 10, 56, 67

Federal Reserve members....................................................................................... 86

Fund for Mutuals....................................................................................................... 73, 78

Insured deposits:

In banks no longer insured............................................................................ 75-76

Maximum amount........................................................................................ 7, 10, 78

Offset...................................................................................................................... 70, 81

Payment of........................................................................................................... 78-79

Interest rate regulation............................................................................................ 26, 85

Investment of funds.................................................................................................. 81

Loans to closed banks............................................................................................... 81-82

Loans to or purchase of assets of insured banks....................................... 17-18, 82

New national banks................................................................................................... 79-80

Payment of depositors in closed insured banks.............................................. 79-81

Penalties for false statements, counterfeiting and embezzlement.............. 83-84

Permanent Insurance Fund:

Banks insured in ................................................................................................ 70, 71

Establishment..................................................................................................... 77-78

Powers of Federal Deposit Insurance Corporation....................................... 76, 82

Purchase of assets and loans to receivers.......................................................... 81-82

Purchase of obligations of the Federal Deposit Insurance Corporation

by:

Reconstruction Finance Corporation......................................................... 83

Secretary of the Ti’easury.............................................................................. 82-83

Purpose........................................................................................................................... 68

Receiver for closed banks........................................................................................ 78-81

Regulations and rulings of the Federal Deposit Insurance Corporation

(see also Regulations and rulings).................................................................... 87-103

Regulation of insured banks................................................................................... 84-86

Surety bonds................................................................................................................ 85

Tax exemptions........................................................................................................... 83

Temporary Federal deposit insurance funds:

Refunds.................................................................................................................. 73

Termination......................................................................................................... 73

Termination of insured status of banks............................................................. 75-76

Trust funds.................................................................................................................... 74

Law, State, regarding deposit insurance..................................................................... 27-28

Liabilities of banks. See Assets and liabilities of banks.

Liabilities of the Federal Deposit Insurance Corporation..................... . . . . . . 12, 230

Loans and discounts. See Assets, examiners analyses; Assets and liabilities

of banks.

Loans to insured banks......................................................................................... 17-18, 81-82

Losses. See Assets, examiners’ analyses.

Losses and depreciation. See Earnings, expenses, and disposition of profits.

Manual of instructions for examiners.......................................................................... 23

Mutual savings banks (see also Insured banks; Fund for Mutuals):

Assets and liabilities.................................................................................................. 171

Deposits.......................................................................................................................... 164-69

Insured............................................................................................................................ 48-51

Number........................................................................................................................... 140-46

National banks. See Deposit insurance national banks; Insured banks.

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Page

Negotiable instruments..................................................................................................... 27, 102

Noninsured banks. See

Assets and liabilities of banks;

Capital of banks;

Consolidations and mergers;

Deposits;

Number of operating banks;

Number of operating banks and branches;

Number of operating branches;

Suspensions.

Number of operating banks:

Beginning operations during 1935........................................................................ 147

By amount of deposits.............................................................................................. 124-43

By class................................................................................................................ 124-25, 145

By States and possessions............................................................................... 62, 124-43

Ceasing operations during 1935............................................................................. 148

Changes during 1935......................................................................................... 35-37, 145

Insured banks, all............................................................................................... 62, 124-25

Insured commercial banks:

Dec. 31, 1934, and Dec. 31. 1935............................................................. 145, 198

Dec. 31, 1935...................................................................................... 124-25, 132-35

Jan. 1, 1934, and Aug. 23, 1935................................................................... 62

Semiannually, 1934-35................................................................................. 170, 172

Insured commercial banks not members of the Federal Reserve System:

Dec. 31, 1934, and Dec. 31, 1935............................................................. 145, 198

Dec. 31, 1935....................................................................................................... 124-25

Examined in and operating at close of 1933, 1934 and 1935............ 194-95

Jan. 1, 1934, and Aug. 23, 1935................................................................... 62

Operating throughout 1935........................................................................ 198,216

Semiannually, 1934-35..................................................................................... 172

Insured commercial State banks operating throughout 1935 and reporting net earnings or net losses....................................................... 200, 204, 206

Insured mutual savings banks:

Dec. 31, 1934, and Dec. 31, 1935................................................................ 145

Dec. 31, 1935...................................................................................... 124-25, 140-41

Jan. 1, 1934, and Aug. 23, 1935................................................................... 62

Semiannually, 1934-35..................................................................................... 171

Noninsured commercial banks.............................. 124-25, 132-35, 145, 168, 170

Noninsured mutual savings banks................................. 124-25, 140-41, 145, 171

Operating branches.................................................................. 128-29, 136-39, 142-43

Suspended......................................................................................................................11, 224

Unit banks.................................................................................. 126-27, 136-39, 142-43

With capital investment by Reconstruction Finance Corporation...........43, 196

Number of operating banks and branches:

By class of bank in each State and possession, Dec. 31, 1935.................. 122-23

Dec. 31, 1934, Dec. 31, 1935, and changes during 1935.............................. 144

Number of operating branches:

By class of bank in each State and possession, Dec. 31, 1935.................. 130-31

Dec. 31, 1934, Dec. 31, 1935, and changes during 1935.............................. 146

O’Connor, J. F. T., director Federal Deposit Insurance Corporation............ 8

Officers and employees:

Federal Deposit Insurance Corporation............................................................. 9

Insured commercial State banks........................................................................... 222-23

Offset, deposits subject to ............................................................. 14, 63, 70, 81, 228, 229

Payment of depositors. See Receiverships of insured banks.

Permanent Federal deposit insurance plan:

Admissions................................................................................... 7, 18-21, 28-29, 70-71

Assessments:

Base......................................................................................................................... 10, 91

Certified statement........................................................................... 10, 11, 104-11

Credits at close of temporary plan.......................................................... 8, 10-11

Deductions allowed..................................................................................... 26, 91-92

Legal provisions..................................................................................... 72-74, 84-85

Rate......................................................................................................................... 8, 10

Creation.......................................................................................................................... 7, 77

Legislation. See Law, revised deposit insurance.

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Permanent Federal deposit insurance plan— Continued Page

Number of insured banks. See Number oe operating banks.

Terminations...................................................................... 19-20, 24-25, 73-76, 87-89

Personnel :

Federal Deposit Insurance Corporation............................................................ 9

Insured commercial State banks........................................................................... 222-23

Policies of the Federal Deposit Insurance Corporation........................................ 28-31

President of the United States, Executive Order o f.............................................. 11

Problems and policies of the Federal Deposit Insurance Corporation............ 28-31

Procedure for paying depositors............................................................................... 11, 14-16

Profits and recoveries. See Earnings, expenses, and disposition of profits.

Receiverships of insured banks:

Assets of insured banks placed in receivership:

Amount at date of suspension...................................................................... 226

Liquidation o f..................................................................................................... 63

Class of bank....................................................................................................... 11, 16, 225

Date of suspension and date receivership became final............................... 225

Depositors:

Date of first payment...................................................................................... 225

Methods of payment.................................................................................. 11, 14-16

Number fully and partially protected, paid and unpaid.......... 14, 63, 229

Deposits:

Insured paid and unpaid.................................................... 11, 14, 63, 228, 229

Restricted............................................................................................................. 228

Secured and preferred.................................................................. 14, 63, 227, 228

Subject to offset........................................................................................ 14, 63, 228

Uninsured.................................................................................................... 14, 63, 228

Dividends paid during 1934 and 1935................................................................ 16-17

Legal provisions..................................................................................................... 69, 78-81

Liabilities at date of suspension............................................................................ 227

Location of banks....................................................................................................... 225

Name of banks............................................................................................................. 225

Receiver......................................................................................................................... 16, 225

Reconstruction Finance Corporation:

Capital investment in banks............................................. 43, 51, 182-83, 196, 197

Purchase of Federal Deposit Insurance Corporation obligations............. 83

Recoveries, operating banks. See Earnings, expenses, and disposition of

profits.

Recoveries, suspended banks. See Receiverships of insured banks.

Refunds at close of temporary plan.................................................................. 8, 10-11, 73

Regulations and rulings of the Board of Governors of the Federal Reserve

System................................................................................................................................. 104

Regulations and rulings of the Federal Deposit Insurance Corporation:

Advertisements in bank directories, rule........................................................... 95

Agents upon whom service of process may be made, resolution.............. 102-03

Assessment of assumed deposit liabilities, rule............................................... 102

Definition of deposit liabilities, Regulation 1 ............................................ 24, 90-91

“ Equivalent of money” , Ruling 1............................................................... 26, 91

Determination of assessment base, Regulation I I ................................... 24, 91-92

Interpretation concerning permissible deductions, Ruling 1 ............. 92

Display of signs and use of advertising statement, Regulation I I I . .. 24, 92-95

Negotiable instruments, rule.................................................................................. 102

Notice of termination of insured status of a bank, Regulation H .......... 24, 89

Payment of deposits and interest thereon, Regulation I V ......................... 95-101

Withdrawal from temporary Federal deposit insurance funds, Regulation G ................................................................................................................ 24, 87-88

Restricted deposits...................................................................................................... 22-23, 228

Salaries and wages paid by insured banks. See Earnings, expenses, and

disposition of profits.

Salaries of officers and employees, insured commercial State banks, by

class of bank, by amount of deposits, and by States........................................ 222-23

Savings deposits. See Deposits.

Secretary of the Treasury:

Authorization to purchase obligations of the Federal Deposit Insurance

Corporation............................................................................................................... 82-83

Purchase of stock........................................................................................................ 9, 70

Securities. See Assets and liabilities of banks.

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

Page

Service charges, income of insured banks from. See Earnings, expenses,

and disposition of profits.

Sign, official Federal Deposit Insurance Corporation.................................. 26, 84, 93

Slow assets. See Assets, examiners’ analyses.

State banks. See Insured banks.

State legislation affecting deposit insurance.............................................................. 27-28

Supervising examiners................................................................................................ 23, 102-03

Supervision of insured banks (see also Examinations of banks).................... 8, 84-86

Surety bonds required by Federal Deposit Insurance Corporation................. 30, 85

Suspensions............................................................................................................................ 11, 224

Taxes paid by insured banks. See Earnings, expenses, and disposition of

profits.

Temporary Federal deposit insurance plan:

Assessments............................................................................................................... 9-10, 56

Banks insured:

Admissions............................................................................................... 18-19, 56-59

Number..................................................................................................... 57-58, 60-62

Terminations................................................................................ 18-19, 60-61, 149

Certified statement.................................................................................................... 56

Cost of operation........................................................................................................ 10

Creation......................................................................................................................... 55

Extension and revision.................................................................................. 7, 56-57, 67

Insurance coverage..................................................................................................... 55-56

Membership requirements by class of bank..................................................... 55

Termination of plan.............................................................................................. 7, 57, 73

Terminations of insurance:

During 1935................................................................................................ 18-21, 145, 169

Legal provisions concerning.................................................................................... 73-76

Permanent plan.......................................................................................................... 19-20

Regulations concerning.................................................................... *.......... 24-25, 87-89

Temporary plan............................................................. 7, 18-19, 57, 60-61, 73, 149

Withdrawals.................................................................................................. 19-21, 60, 149

Time deposits. See Deposits.

Trust funds, legal provisions for insurance................................................................ 74

Uninsured banks. See Noninsured banks.

Unit banks. See Deposits; Number of operating banks.

United States Government obligations:

Held by banks. See Assets and liabilities of banks.

Held by Federal Deposit Insurance Corporation........................................... 74-75

Withdrawals from insurance. See Terminations of insurance.

Worthless assets. See Assets, examiners’ analyses.

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Federal Reserve Bank of St. Louis