ANNUAL REPORT

OF THE

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

FOR THE YEAR ENDED

DECEMBER 31, 1957

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
L E T T E R OF TR AN SM ITTA L.

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

Washington, D. C., July 24, 1958

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

Deposit Insurance Act, the Federal Deposit Insurance Corporation 

is pleased to offer its annual report. Part One of the report, separately 

submitted earlier in the year, is included in this volume.

Respectfully,

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

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

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

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

N a tio n a l P ress B u ild in g — W ash in gton 25, D C.

BOARD OF DIRECTORS

Chairman............................................................................Jesse P. W o lc o t t

Comptroller of the Currency............................................... R ay M. Gidney

Director............................................................................... E r le Cocke

OFFICIALS—July 24, 1958

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

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

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

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

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

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

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

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

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

Controller.............................................................................William G. Loeffler

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

V

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

D ist. Supervising

No. Exam iner

1. Lundie W. Barlow

2. Philip C. Lods

3. Gilbert E. Mounts

4. Robert N. McLeod

5. John E. Freeman

6. Charles M. Dunn

7. Raby L. Hopkins

8. Darrell E. Wilkins

9. Charles F. Alden

10. George M. Hirning

11. Lloyd Thomas

12. David A. Linder

A ddress

Room 1365, No. 10 P.O. 

Square, Boston 9, Mass.

Room 1900, 14 Wall Street, 

New York 5, N. Y.

Suite 500,

50 West Gay Street, 

Columbus 15, Ohio

200 The Bank of Virginia 

Building, Fourth and 

Grace Streets,

Richmond 19, Va.

Fifth floor, 114 Marietta 

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

1059 Arcade Building 

St. Louis 1, Mo.

715 Tenney Building, 

Madison 3, Wis.

164 W. Jackson Blvd., 

Chicago 4, 111.

950 Federal Reserve Bank 

Building,

Minneapolis 2, Minn.

1201 Federal Reserve Bank 

Building, Kansas City 6, 

Mo.

Federal Reserve Bank 

Building, Station K, 

Dallas 13, Texas

Suite 1120, 315 Montgomery Street, San 

Francisco 4, Calif.

States in D istrict

Maine, New Hampshire, 

Vermont, Massachusetts, 

Rhode Island, Connecticut

New York, New Jersey, 

Delaware, Puerto Rico, 

Virgin Islands

Ohio, Pennsylvania

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

South Carolina

Georgia, Florida, Alabama, 

Mississippi

Kentucky, Tennessee, 

Missouri, Arkansas

Indiana, Michigan,

Wisconsin

Illinois, Iowa

Minnesota, North Dakota, 

South Dakota, Montana

Nebraska, Kansas, 

Oklahoma, Colorado, 

Wyoming

Louisiana, Texas,

New Mexico, Arizona

Idaho, Utah, Nevada,

Washington, Oregon, California, Alaska, Hawaii

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ITA

FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICTS

DISTRICT 2 Includes PUERTO RICO ft VIRGIN ISLANDS

DISTRICT 4 Includes DISTRICT OF COLUMBIA

DISTRICT 12 Includes HAWAII a ALASKA

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
CONTENTS

Summary................................................................................................................... xv

PART ONE 

OPERATIONS OF THE CORPORATION

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

Supervisory activities............................................................................................... 3

Disbursements in insurance transactions............................................................... 8

Finances of the Corporation................................................................................... 12

Legal developments.................................................................................................. 18

Organization and personnel..................................................................................... 18

PART TWO 

BANKING DEVELOPMENTS

Number of banks and their insurance status........................................................ .......25

Bank assets......................................................................................................................28

Bank deposits........................................................................................................... .......35

Bank capital............................................................................................................. .......36

Income of insured banks......................................................................................... .......39

PART THREE

ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE

Considerations for appraising the funds needed for deposit insurance............... 49

Actuarial data relevant to the funds needed by the Corporation as an insurer

of bank deposits............................................................................................ 52

PART FOUR 

LEGISLATION AND REGULATIONS

Federal legislation and Corporation regulations................................................... 75

State banking legislation......................................................................................... 75

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Number, offices, and deposits of operating banks................................................. 82

Assets and liabilities of operating banks................................................................ 102

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

Deposit insurance disbursements............................................................................ 144

Page

ix

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
LIST OF CHARTS

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

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

A. Principal disbursements by the Corporation in deposit payoff and deposit

assumption cases, 1934-1957........................................................................ 10

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

Corporation, 1957......................................................................................... 14

C. Percentage change in number of banking offices in each State, December

31, 1947, to December 31, 1957................................................................ 28

D. Percentage change in total assets of all banks in the United States (continental U. S. and other areas), by Federal Deposit Insurance Corporation district, December 31, 1947, to December 31, 1957....................... 28

E. Percentage distribution of assets, all banks in the United States (continental U. S. and other areas), by Federal Deposit Insurance Corporation 

district, December 31, 1947, and December 31, 1957............................... 31

F. Percentage distribution of loans, all banks in the United States (continental U. S. and other areas), by Federal Deposit Insurance Corporation 

district, December 31, 1947, and December 31, 1957............................. 33

G. Securities owned by all banks in the United States (continental U. S. and

other areas), December 31, 1947, and December 31, 1957..................... 34

H. Percentage change in deposits of all banks in the United States (continental U. S. and other areas), annually, 1948-1957................................. 35

I. Ratio of total capital accounts to total assets, all banks in the United States

(continental U. S. and other areas), by Federal Deposit Insurance

Corporation district, December 31, 1947, and December 31, 1957........ 38

J. Average rates of income received by insured banks in the United States

(continental U. S. and other areas), 1948-1957....................................... 40

K. Percentage distribution of the disposition of total income, insured commercial banks in the United States (continental U. S. and other areas), by 

Federal Deposit Insurance Corporation district, 1948 and 1957............ 42

LIST OF TABLES

PART ONE 

OPERATIONS OF THE CORPORATION

Supervisory activities:

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

Federal Deposit Insurance Corporation during 1957............................... 5

2. Bank examination activities of the Federal Deposit Insurance Corporation

in 1956 and 1957........................................................................................... 6

3. Actions to terminate insured status of banks charged with unsafe or unsound banking practices or violations of law or regulations, 1936-1957.. 7

Disbursements in insurance transactions:

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

Insurance Corporation in insurance transactions, 1934-1957................. 9

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

Federal Deposit Insurance Corporation, 1934-1957................................. 11

Finances of the Corporation:

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

December 31, 1957....................................................................................... 13

7. Income and expenses of the Federal Deposit Insurance Corporation and

changes in the Deposit Insurance Fund for the year ended December 

31, 1957......................................................................................................... 15

8. Administrative and operating expenses of the Federal Deposit Insurance

Corporation for the year ended December 31, 1957................................ 15

Page

X

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
LIST OF TABLES XI

9. Income and expenses of the Federal Deposit Insurance Corporation, by 

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

31, 1957, adjusted to December 31, 1957.................................................. 16

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

Deposit Insurance Corporation for the year ended December 31, 1957. . 17

11. Insured deposits and the Deposit Insurance Fund, 1934-1957................... 17

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

year ended June 30, 1957............................................................................. 20

Organization and perso nn el:

12. Number of officers and employees of the Federal Deposit Insurance Corporation, December 31, 1957........................................................................... 19

13. Number of officers and employees of the Federal Deposit Insurance Corporation, December 31, 1957, distributed according to length of service. . 19

PART TWO 

BANKING DEVELOPMENTS

N umber of banks and their insurance sta tu s:

15. Number and changes in banking offices in the United States (continental

U. S. and other areas), 1947-1957.............................................................. 25

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

(continental U. S. and other areas), 1948-1957......................................... 26

17. Number and deposits of all banks in the United States (continental

U. S. and other areas), December 31, 1957.............................................. 27

B an k assets:

18. Percentage changes in total assets, all banks in the United States (continental U. S. and other areas), annually and for the period, 1948-1957

Banks grouped according to insurance status and type of bank.............. 29

19. Distribution of assets of all banks in the United States (continental U. S.

and other areas), December 31, 1957

Banks grouped according to insurance status and type of bank............... 29

20. Changes in assets of all banks in the United States (continental U. S.

and other areas), annually and for the period, 1948-1957..................... 30

21. Principal types of loans of all banks in the United States (continental

U. S. and other areas), December 31, 1957

Banks grouped according to insurance status and type of bank.............. 32

Ba n k deposits:

22. Insured commercial banks in the United States (continental U. S. and

other areas), in which deposits declined between June 30, 1955, and 

June 6, 1957.................................................................................................. 36

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

areas), December 31, 1957, and percentage changes from 1947 to 1957

Banks grouped according to insurance status and type of bank................ 37

Ba n k capital:

24. Total capital accounts and ratios to total assets of all banks in the United

States (continental U. S. and other areas), December 31, 1957.............. 38

I ncome of insured b a n k s:

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

the United States (continental U. S. and other areas), 1948 and 1953-1957 40

26. Expense ratios and interest paid on deposits, insured banks, 1948-1957. . . 41

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

the United States (continental U. S. and other areas), 1948 and 1953-1957 43

28. Selected operating ratios of insured commercial banks in the United States

(continental U. S. and other areas), 1948-1957........................................ 44

29. Selected operating ratios of insured commercial banks operating throughout

the year 1957 in the United States (continental U. S. and other areas), 

banks grouped according to amount of deposits...................................... 45

Page

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

PART THREE

ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE

A ctuarial data relevant to the funds needed b y the C orporation as

AN INSURER OF BANK DEPOSITS:

30. Deposits in insured banks and the deposit insurance fund, 1934-1956........ 54

31. Projected income of the Federal Deposit Insurance Corporation, 1957-1980 56

32. Projected deposit insurance fund, Federal Deposit Insurance Corporation,

1957-1980....................................................................................................... 57

33. Deposit insurance fund and reserve for losses, and holdings of assets

acquired in deposit payoff and deposit assumption cases, 1934-1956.... 58

34. Disbursements and losses of the Federal Deposit Insurance Corporation

in deposit payoff and deposit assumption cases, 1934-1956..................... 59

35. Deposits of 25 insured banks relative to the deposit insurance fund,

December 31, 1956........................................................................................ 62

36. Deposits in insured commercial banks with very small capital ratios, June

30, 1956......................................................................................................... 63

37. Bank failures and losses to depositors, commercial banks, 1873-1878

and 1930-1933................................................................................................ 64

38. A hypothetical deposit insurance fund for commercial banks in the United

States, 1900-1930.......................................................................................... 67

39. A hypothetical deposit insurance fund for commercial banks in the United

States, 1900-1930.......................................................................................... 68

40. Disbursements and portion of fund tied up in assets acquired from failed

banks in a hypothetical deposit insurance fund for commercial banks 

in the United States, 1900-1930................................................................ 69

41. Adequacy of borrowing power of a hypothetical deposit insurance fund

established in 1900 and operating until 1930........................................... 70

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

N um ber, offices, and deposits of operating b a n k s:

Explanatory note...................................................................................................... 82

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

in the United States (continental U. S. and other areas) during 1957.. 84

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

U. S. and other areas), December 31, 1957

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

and type of office................................................................................... 86

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

in the United States (continental U. S. and other areas), June 30, 1957 

Banks operating branches grouped according to character of branch

system and branches grouped according to location of branch and by

population of center in which located and State................................. 94

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

States (continental U. S. and other areas), June 30, 1957

Grouped according to number of commercial banking offices in center

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

located................................................................................................... 96

105. Number of operating banking offices of commercial banks in metropolitan

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

1957

Grouped according to type of office........................................................ 98

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

U. S. and other areas), December 31, 1957

Banks grouped according to insurance status and by district and State.. 100

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
LIST OF TABLES xiii

Page

Assets and liabilities of operating banks:

Explanatory note..................................................................................................... 102

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

U. S. and other areas), June 6, 1957

Banks grouped according to insurance status and type of bank.............. 104

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

U. S. and other areas), December 31, 1957

Banks grouped according to insurance status and type of bank.......... 106

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

U. S. and other areas), December 31, 1957 

Banks grouped by district and State...................................................... 108

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

(continental U. S. and other areas), December 31, 1957, June 6, 1957, 

and December 31, 1956.............................................................................. 110

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

(continental U. S. and other areas), December 31, 1957 

Grouped according to amount of deposits and by ratios of selected items

to assets................................................................................................. 114

Earnings, expenses and dividends of insured banks:

Explanatory note...................................................................................................... 116

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

United States (continental U. S. and other areas), 1949-1957.............. 118

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

in the United States (continental U. S. and other areas), 1949-1957... 120

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

United States (continental U. S. and other areas), 1957 

By class of bank....................................................................................... 122

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

in the United States (continental U. S. and other areas), 1957 

By class of bank...................................................................................... 124

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

throughout 1957 in the United States (continental U.S. and other areas)

Banks grouped according to amount of deposits..................................... 126

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

operating throughout 1957 in the United States (continental U. S. 

and other areas)

Banks grouped according to amount of deposits..................................... 128

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

United States (continental U. S. and other areas), by State, 1957.... 130

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

1951-1957..................................................................................................... 140

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

banks, 1951-1957......................................................................................... 142

Deposit insurance disbursements:

Explanatory note...................................................................................................... 144

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

disbursements by the Federal Deposit Insurance Corporation, 1934- 

1957

Banks grouped by class of bank, year of deposit payoff or deposit assumption, amount of deposits, and State.......................................... 146

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

Federal Deposit Insurance Corporation, 1934-1957............................. 148

123. Insured banks requiring disbursements by the Federal Deposit Insurance

Corporation during 1957............................................................................ 149

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

principal disbursements for protection of depositors, 1934-1957.......... 150

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
S u m m a r y

There were 13,404 banks in the United States at the end of 1957 

insured by the Federal Deposit Insurance Corporation. Deposits in 

insured banks totaled nearly $226 billion, or about 96 percent of all bank 

deposits. An estimated $127 billion was insured under the limit of $10,000 

for each depositor. (Pp. 3, 17.)

Only one insured bank required disbursements by the Corporation 

during 1957. Another insured bank was placed in receivership, but was 

restored to solvency without the Corporation’s financial assistance. From 

its beginning in 1934 to the end of 1957 the Corporation made disbursements to protect depositors of 432 banks. (Pp. 8, 11-12.)

The deposit insurance fund amounted to $1,850 million at the end 

of 1957, or 0.82 percent of total deposits in insured banks. An analysis 

of the historical experience of bank failures together with the present 

distribution of the Corporation’s potential liability indicates that a 

reserve fund amounting to 1 percent of deposits in insured banks is the 

minimum that could reasonably be considered adequate. (Pp. 17, 72.)

A slight decline in the number of banks during 1957 was more than 

offset by an increase in the number of branches, and total banking offices 

rose by almost 600 to a total of 22,907. An innovation occurred during 

1957 when the Corporation approved the establishment of mobile 

branches in Puerto Rico. (Pp. 25-27.)

Assets of all banks increased 3 percent in 1957 and amounted to $259 

billion at the end of the year. Holdings of securities advanced after 

a two-year decline, and loans continued to climb, but at a slower rate 

than in recent years. At the end of the year deposits were $234 billion 

and total capital accounts almost $21 billion. The ratio of capital to 

assets of insured commercial banks rose slightly to 7.7 percent. (Pp. 28,

30, 37-38.)

Net profits after taxes of insured commercial banks were 13 percent 

larger than in the previous year, and represented a return of 8.3 percent 

on total capital accounts. Current operating earnings and expenses each 

advanced, the sharpest rise occurring in the interest paid on savings and 

time deposits. Net charge-offs on assets were a fourth smaller than in

1956. Profits were divided about equally between dividends and retention 

in capital accounts. (Pp. 39-40, 44.)

Nearly every State enacted some legislation in 1957 affecting the 

operation of banks. (Pp. 75-79.)

xv

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS OF THE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

The Federal Deposit Insurance Corporation was created by the 

Banking Act of June 16, 1933, to provide insurance for depositors of 

banks. Insurance was at first limited to $2,500 for each depositor. The 

limit was raised to $5,000 on July 1, 1934, and continued at that amount 

until September 21, 1950, when it was increased to $10,000 per depositor.

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

insurance from the time it went into effect on January 1, 1934. The 

13,404 insured banks in operation at the end of 1957 comprised almost 

95 percent of the total banks in the country and had about 96 percent 

of all bank deposits.

Insured banks held deposits of almost $226 billion on December 31, 

1957. An estimated 56 percent of their deposits, or about $127 billion, 

were insured. However, approximately 98 percent of all accounts had 

balances of less than $10,000 and were therefore fully insured.

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

Objectives and agencies o f bank supervision. Banks are the 

principal source of commercial credit and of the means of payment 

through which most of the business of the country is transacted. The 

banking business, therefore, has long been recognized as one affected with 

the public interest and properly subject to governmental supervision. 

More than a century ago State legislatures began to develop banking 

codes and to establish bank supervisory departments. The primary 

purpose of these banking laws was to assure the safety of the circulating 

medium; that is, to avert its disappearance and the resulting disruption 

of business through bank failures. At the same time, attention was paid 

to the need for bank credit by a vigorously growing nation.

Insurance of bank obligations was one of the methods originated by 

some State legislatures for achieving safety of the circulating medium 

provided by banks. However, it proved to be of limited usefulness when 

confined only to individual States and to State-chartered banks. In 

1933, when it had become evident that all of the existing devices of bank 

supervision and control had failed to maintain a safe and adequate 

circulating medium, and devastating banking disturbances had occurred, 

the Federal Deposit Insurance Corporation was created to provide 

insurance of bank deposits throughout the nation. Two years later, 

when a comprehensive revision of the deposit insurance law was made, 

the Corporation was given limited but specific supervisory powers.

3

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Supervisory powers granted the Federal Deposit Insurance Corporation in 1935 were designed to supplement and strengthen the supervision of banks by the older State and Federal banking agencies. Each 

of the States and Territories has a department or agency for supervising 

the organization, operation, and liquidation of banks chartered under 

the provisions of its own banking code. The office of the Comptroller 

of the Currency, established in 1863, exercises the same functions with 

respect to national banks. The direct and primary responsibility for the 

supervision of banks rests with those agencies. The Corporation’s supervisory responsibilities relate to specific types of actions which have a 

direct bearing upon its role as insurer.

Admission to insured status. Admission to insured status is achieved 

by different routes, depending upon the class or location of bank. Banks 

of deposit chartered as national banks in any State or the District of 

Columbia, and State banks of deposit which are admitted to the Federal 

Reserve System, become insured without application to this Corporation. 

National banks located outside the States of the United States and the 

District of Columbia which are not members of the Federal Reserve 

System may become insured upon application by the bank and certification by the Comptroller of the Currency. In these cases the respective 

authorities make certification to the Corporation that the factors which 

the Board of Directors must consider in admitting a bank to deposit 

insurance are regarded favorably. Operating noninsured banks which 

are not members of the Federal Reserve System, along with new banks 

which are not initially members of the System, may apply to the Board 

of Directors of the Corporation for admission to insurance.

During 1957 the Corporation approved 94, and disapproved 22, 

applications for admission to insurance. Of the 94 approved, 50 were 

from new banks and 44 were from operating banks. States with the 

greatest number of new bank approvals of insurance were Illinois, Texas, 

and Florida; those with the largest number of operating bank admissions 

were Maine, Kansas, and Massachusetts. In addition to these actions, 

the Board also approved 15 applications for continuance of insurance 

by banks withdrawing from the Federal Reserve System.

Other applications from banks. Approval of the Corporation must 

be obtained before an insured bank, whatever its charter, may merge, 

consolidate or assume the liabilities of any noninsured bank. The Corporation also has responsibility in a number of areas with respect to insured 

banks not members of the Federal Reserve System; these include merger, 

consolidation, or assumption transactions entailing a reduction of capital 

or surplus, establishment of branches, change of corporate powers, 

relocation of banking offices, and certain other actions.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
SUPERVISORY ACTIVITIES 5

Table 1. A pp lic a tio n s fro m B a n k s A cted U pon b y th e B o ard of D ir e c to r s

of th e F e d e r a l D e p o s it I n su r a n c e C o r po r a t io n D u r in g 19571

Type of application

Total

acted

upon

Approved Disapproved

All applications............................................................................. 595 565 30

Admission to insurance—total....................................................... 116 94 22

New bank*..................................................................................... 69 50 19

Operating banks ............................................................................ 47 U S

Continuation of insurance of banks withdrawing from Federal

Reserve System........................................................................ 15 15

Change in type of business—total................................................. 34 32 2

To engage in trust business.......................................................... 82 SO 2

To engage in commercial banking................................................ 2 2

Assumption of deposit liabilities—total........................................ 22 22

Of another insured bank............................................................... Ik 1U

Of a noninsured bank................................................................... 7 7

Of a financial institution not a bank.......................................... 1 1

Operation of branches—total......................................................... 220 219 1

New branch offices......................................................................... 167 166 1

New facilities................................................................................ s s

Conversion of absorbed bank or financial institution................... su su

Continue operating existing branches........................................... 16 16

Change of location of offices—total............................................... 141 140 1

107 106 1

Branches........................................................................................ su su

Retirement of capital...................................................................... 36 35 1

Other capital adjustments............................................................. 6 6

Service of persons convicted of breach of trust............................ 3 3

Purchase banking quarters............................................................. 2 2

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

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

upon in prior years on which additional action was taken in 1957.

Table 1 shows the type and disposition of all applications acted upon 

by the Board of Directors during 1957. This tabulation relates only to 

applications reaching the board; it does not show all proposals for action, 

many of which are abandoned by banks after preliminary negotiation 

or because of inability to satisfy the requirements of the chartering 

authority.

Bank examinations. The Federal Deposit Insurance Corporation 

regularly examines all insured banks that are not so examined by another 

Federal government agency. National banks, and all banks in the District 

of Columbia, are examined by the Comptroller of the Currency, and 

State banks that are members of the Federal Reserve System by the 

examining staff of that System. The regular bank examinations of the 

Corporation are therefore limited to insured State-chartered banks that 

are not members of the Federal Reserve System, excluding those in the 

District of Columbia, and are often made jointly or concurrently with 

those conducted by the respective State supervisory authorities. The 

Corporation is empowered to make an examination of any insured bank

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

whenever, in the judgment of the Board of Directors of the Corporation, 

such an examination is needed to determine the condition of the bank 

for deposit insurance purposes. The Corporation also reviews reports 

of examination of national banks and District of Columbia banks conducted by the Comptroller of the Currency, and of State banks members 

of the Federal Reserve System conducted by the Federal Reserve 

authorities.

The number and character of examinations and investigations made 

by the Corporation during 1957 are shown in Table 2.

Table 2. B a n k E x a m in a t io n A c t iv it ie s of th e

F e d e r a l D ep o s it I n su r a n c e C o r po r a t io n in 1956 a n d 1957

Activity

Number

Examinations and investigations—total.................................................

Examinations of main offices.....................................................................

Regular examinations of insured banks not members of Federal Reserve

System.........................................................................................................

Re-examinations; or other than regular examinations..................................

Entrance examinations of operating noninsured banks................................

Examinations of departments and branches.........................................

Examinations of trust departments................................................................

Examinations of branches..............................................................................

Investigations.................................................................................................

New bank investigations:

Banks members of Federal Reserve System................................................

Banks not members of Federal Reserve System.........................................

New branch investigations..............................................................................

Miscellaneous investigations...........................................................................

Review of reports of examination of insured banks—total................

National banks..............................................................................................

State banks members of Federal Reserve System.....................................

State banks not members of Federal Reserve System..............................

10,204 10,227

6,904 6,935

6,66U 6,699

171 15 U

69 82

2,574 2,503

81>8 8U2

1,731 1,661

726 789

85 51

115 117

19 U 198

882 U28

12,263 13,422

4,131 5,019

1,715 1,692

6,417 6,711

Citations for unsafe and illegal banking practices. When examination of a bank reveals the continuance of unsafe or unsound banking 

practices or violation of law or regulations, the Corporation has the 

authority under Section 8(a) of the Federal Deposit Insurance Act to 

institute proceedings for the involuntary termination of the insured 

status of such bank. Proceedings are initiated only after diligent efforts 

have been made to obtain satisfactory corrective action by the bank 

itself.

At the start of 1957 formal proceedings were pending against six 

banks; during the year proceedings were initiated against one additional 

bank. The bank cited in 1957 was charged with continued lax lending 

policies which had led to impairment of its common capital. Corrective 

action prescribed in this case included restoration of the common capital,

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
SUPERVISORY ACTIVITIES 7

elimination of substandard and illegal loans, and employment of a capable 

and experienced executive officer satisfactory to the State Commissioner 

of Banking and to this Corporation, and with stated authority and 

responsibility for maintaining a loan policy in accord with sound banking 

practices as established by the bank’s Board of Directors.

Of the seven cases active in 1957, six were dismissed during the year 

when the banks concerned made the required corrections. The correction 

period had not expired in the one case pending at the end of the year. 

The disposition or status of all Section 8(a) cases in 1957 and during 

the Corporation's existence is shown in Table 3.

Table 3. A ctio ns to T e r m in a t e I n su r e d St a t u s of B a n k s C h a r g e d

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

o f L a w o r R e g u l a t io n s, 1936-1957

Disposition or status 1936-1957»

Pending 

Jan. 1, 

1957

Started

during

1957

Total banks against which action was taken....................... 178 6 1

Cases closed.................................................................................... 177 6

Corrections made........................................................................ 65 6

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

With financial aid of the Corporation.................................. 62

Without financial aid of the Corporation............................. 6

Banks suspended prior to setting date of termination of 

insured status by Corporation................................................ 32

Insured status terminated, or date for such termination

set by Corporation, for failure to make corrections.............

Banks suspended prior to or on date of termination of

insured status....................................................................

12

9

Banks continued in operation3.............................................. S

Cases not closed December 31, 1957........................................ 1 1

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

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

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

Reports from banks. As in previous years, each insured bank filed 

with the Corporation certified statements showing for the six months 

ended on the preceding June 30 and December 31, respectively, the 

amount of its assessment base and the amount of the semiannual assessment due the Corporation. Statements from all insured banks are verified 

in the Washington office and, in addition, a number of field audits are 

made to determine their accuracy.

Insured banks were required to submit statements of their assets and 

liabilities as of June 6 and December 31, 1957, and statements of their 

earnings, expenses, and dividends for the calendar year 1957. National 

banks and all banks in the District of Columbia submitted their reports 

to the Comptroller of the Currency; State banks belonging to the Federal 

Reserve System sent their reports to the respective Federal Reserve 

banks; all other insured banks made their reports to the Federal Deposit

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Insurance Corporation. Each of the Federal agencies tabulates and 

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

the other agencies.

Supplementing the reports from insured banks, the Corporation, by 

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

liabilities of noninsured banks and trust companies, and provides a 

tabulation covering assets and liabilities of all operating banks. Such 

reports are obtained by the Corporation through the assistance of State 

banking authorities and of officials of unincorporated banking institutions 

not under State or Federal supervision. In gathering data on noninsured 

banks the Corporation does not request information on earnings.

The data on the condition and earnings of banks for 1957 are presented 

in Parts Two and Five of this report. Tabulations of reports of assets 

and liabilities classified by State are published semiannually by the 

Corporation in separate reports.

D isbursem ents in In surance T ransactions

Disbursements in 1957. Two insured banks were placed in receivership during 1957. In one of these cases the Corporation paid depositors 

the amount of their deposits up to the insurance maximum. In the other, 

the bank was restored to solvency without financial assistance from 

the Corporation.

The First State Bank of Yorktown, Yorktown, Texas, was placed in 

receivership by the State banking authority, and the Corporation appointed receiver on April 10, 1957, following discovery of a serious 

shortage due to financial irregularities. Payments to depositors were 

begun by the Corporation eight days after the bank suspended. Over 

one million dollars, or about 90 percent of all deposits in the bank, has 

been paid to depositors by the Corporation. Including deposits available 

but not yet claimed, payments by the Corporation together with other 

recoveries obtained by depositors have resulted in full recovery for 99 

percent of the bank's depositors. It is anticipated that a substantial 

portion of the amount disbursed by the Corporation will eventually be 

recovered as dividends are paid from the proceeds of the liquidation of 

the assets of the bank. Depositors with balances in excess of the insurance 

maximum share in these recoveries.

Suspension of the second bank, the Del Rio National Bank, Del Rio, 

Texas, was also caused by financial irregularities. Through the sale of 

new stock to local interests the bank was restored to solvency and the 

receivership terminated within two weeks of the bank's suspension. The 

Corporation incurred a small expense in order to be ready to begin immediate payment of depositors' claims had the stock sale proved unsuccessful.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DISBURSEMENTS IN INSURANCE TRANSACTIONS 9

Disbursements, 1934-1957. During the 24 years since deposit insurance became effective, the Corporation has disbursed $343.1 million 

in connection with its insurance operations. All but a very small part of 

these disbursements have been made on behalf of the depositors of 432 

insured banks, which were either placed in receivership or were in such 

serious financial difficulty as to require assistance from the Corporation. 

Table 4 shows the types of disbursement made and the recoveries and 

losses incident to these disbursements.

T ab le 4. A nalysis of D isbursem ents, R ecoveries, and L osses b y the F ederal

D eposit I nsurance C orporation in I nsurance T ransactions, 1934-1957

(In thousands)

Type of disbursement Disbursements Recoveries1

All disbursements—total..................................................

Principal disbursements in deposit assumption and

payoff cases—total..............................................................

Loans and assets purchased (181 deposit assumption

To December 31, 1957........................

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

Deposits paid (251 deposit payoff cases):

To December 31, 1957........................

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

Advances and expenses in deposit assumption and

payoff cases—total..............................................................

Expenses in liquidating assets in 181 deposit assumption

Advances to protect assets........................................

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

Insurance expenses to December 31, 1957...............

Estimated additional insurance expenses.................

Field payoff and other insurance expenses in 251 deposit 

payoff cases:

To December 31, 1957...............................................

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

Other disbursements—total.

Assets purchased to facilitate the termination of 

liquidations:

To December 31, 1957...............................................

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

Insurance expenses in cases with no principal disbursement ........................................................................

$343,065

$293,322

197,769

95,285 \

268 ]

$ 48,081

32,675

14,236

148

14

1,001

7

$ 1,662

1,609

$314,480

$265,319

183,i

53

3,052 \ 

1,564 /

78,745 \ 

1,958 /

$ 46,911

32,675

14,236

(»)(*)

(*)(«)

$ 2,250

2,241 \

9 I

(»)

$ 28,585* 

$ 28,003

13,153

14,850

$ 1,170

148

14

1,001

7

(588)4

(641)4

53

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

recoveries were returned to stockholders and are not included.

8 Net loss of funds was $19,762 thousand after allowing for interest and allowable return of $8,823 

thousand on principal disbursements.

3 Not recoverable.

4 Net profit and net income.

The major portion of the Corporation’s insurance expenditures consists of principal disbursements. These have been of two kinds. In 251 

cases in which banks were placed in receivership, and were neither 

succeeded nor reopened, the Corporation paid the insured claims of depositors, amounting to $95.3 million. In 181 cases the Corporation has 

made loans to, or purchased assets from, banks in serious financial 

difficulties in order to facilitate the assumption of their deposit liabilities

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

by sound insured banks; such disbursements have amounted to $197.8 

million. Chart A shows total principal disbursements by State for the 

24-year period, 1934-1957.

Chart A. P r in c ip a l D is b u r se m e n t s b y th e C o r po r a t io n in D e po sit

P a y o f f an d D e po sit A ssu m ptio n C a s e s, 1934-1957

In addition to principal disbursements, the Corporation has incurred expenses directly related to deposit assumption and payoff cases totaling $48.1 

million. For the most part, these expenses consist of the cost of paying 

depositors of banks placed in receivership and the cost of liquidating 

assets acquired through loan or purchase in deposit assumption cases.

A relatively small part of total insurance disbursements consists of 

amounts paid by the Corporation to purchase, at public auction, the 

remaining assets of a number of liquidations. Also, the Corporation has 

incurred expenses in a number of cases similar to that of the Del Rio 

National Bank which did not result in a principal disbursement.

The Corporation seeks recovery on all of its principal disbursements, 

on advances to protect assets and liquidation expenses in deposit assumption cases, and on assets purchased outright to facilitate the termination of liquidations. Recovery is secured either from the proceeds of 

the liquidation of assets acquired by the Corporation or from receivers' 

dividends. On the other hand, expenses incurred in paying depositors in 

deposit payoff cases, along with certain other expenses, are absorbed by 

the Corporation. By the end of 1957, $310.9 million had been recovered 

by the Corporation and an additional $3.5 million was estimated as

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DISBURSEMENTS IN INSURANCE TRANSACTIONS 11

recoverable. Total losses, including expenses for which the Corporation 

did not seek recovery, were $28.6 million.

Extent of depositor protection. When an insured bank becomes 

involved in serious financial difficulty depositors look primarily to the 

Corporation for immediate protection. However, if the bank is placed in 

receivership some depositors may secure recovery through the offset of 

debts to the bank against deposits, through special security pledged by 

the bank, or from receiver’s dividends on that portion of deposit balances 

which are in excess of the insurance maximum. Table 5 shows the extent 

to which depositors have been protected in the 432 cases in which principal 

disbursements were made by the Corporation, and the ways in which this 

protection was effected.

T ab le 5, P rotection of D epositors of Insured B anks R equiring

D isbursem ents b y the F ederal D eposit I nsurance C orporation, 1934-1957

Item

Number of depositors or accounts—total1......................

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

From FDIC................................

By offset*.....................................

Through security or preference*..

From receiver8.............................

Full recovery not received as of 

December 31, 1957....................

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

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

Am ount of deposits (in thousands)— total........................

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

By FDIC....................................

By offset7.....................................

By security or preference8..........

By receiver9.................................

Not paid as of December 31, 

1957.............................................

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

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

All cases 

(432 banks)

Number or 

amount

1,428,082

1,424,153

1,888,728

81>,988

2.7 UU

2.7 US

3,929

2,771

1,158

$ 584,359

581,870

557,860

7,295

6,956

9,759

2,489

1,777

712

Percent

100.0%

99.7

96.9

2 4

0.2

0.2

0.3

0.2

0.1

100.0%

99.6

95.5

1.2

1.2

1.7

0.4

0.8

0.1

Deposit payoff 

cases 

(251 banks)

Number or 

amount

398,607

394,678

85 U,258*

8U,938

2.7 UU

2.7 US

3,929

2,771

1,158

$ 121,959

119,470

95,U60« 

7,295

6,956

9,759

2,489

1,777

712

Percent

100.0%

99.0

8.7

0.7

0.7

1.0

0.7

O.S

Deposit 

assumption cases 

(181 banks)

Number or 

amount

1.029.475

1.029.475 

1,029,U75

100.0% $ 462,400 100.0%

98.0 462,400 100.0

78.8

6.0

U62,U00 100.0

5.7

8.0

2.0

l.U

.6

Percent

100.0%

100.0

100.0

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

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

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

by insurance in the absence of offsets.

« Includes only depositors whose total balances were more than the insurance maximum.

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

* Includes $175 thousand insured deposits in terminated cases available but unclaimed from Corporation (see note 2).

* 1ncludes all amounts paid by offset.

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

paid by Corporation.

* Includes unclaimed deposits paid into trusts by receiver.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

The 432 banks concerned had about 1,400,000 depositors and total 

deposits in excess of one-half billion dollars. As of the end of 1957, 99.7 

percent of all the depositors or deposit accounts had been fully protected 

and 99.6 percent of total deposits had been paid or made available to 

depositors.

By facilitating an assumption of deposit liabilities by sound insured 

banks the Corporation was able to provide complete protection to all 

depositors of 181 banks, regardless of the size of their deposit accounts. 

In the 251 deposit payoff cases 89 percent of all depositors were paid 

the full amount of their deposits by the Corporation. Another ten percent 

of the depositors received full recovery through offset, through security 

or preference, or from the receiver, and only one percent of the depositors 

in these 251 cases had not received full recovery by the end of 1957. The 

amount of deposits paid in deposit payoff cases was equal to 98 percent of 

total deposits. It is anticipated that additional recoveries on assets in 

several of the deposit payoff cases not yet terminated will increase still 

further the proportion of depositors receiving full protection and the 

amount of deposits paid.

F inances of the C orporation

Audit. The Audit Division of the Corporation makes a continuous 

audit of the financial affairs of the Corporation. The Comptroller General 

of the United States makes an annual audit of the Corporation, as required 

by the Federal Deposit Insurance Act. The short form of the audit 

report for the year ended June 30, 1957, as furnished to the Corporation 

by the Comptroller General, is shown in Table 14, on pages 20-22.

Assets and liabilities. The assets of the Corporation totaled $1,950.9 

million on December 31, 1957. More than 99 percent, or $1,944.9 million, 

was represented by United States Government securities and accrued 

interest on them. Assets held which had been acquired in deposit payoff 

and deposit assumption cases were valued at $3.5 million, after provision 

for losses. Cash held at the year-end amounted to $2.3 million.

Liabilities totaled $100.5 million. Nearly all of this amount, or $98.4 

million, represented net assessment income credits due insured banks. 

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

deposit insurance fund. This fund totaled $1,850.5 million at the end of 

1957, and amounted to 0.82 percent of total deposits, and 1.46 percent 

of estimated insured deposits.

Assets and liabilities of the Corporation on December 31, 1957, are 

given in Table 6. The relation of the insurance fund to deposits for 

each year from 1934 to 1957 is indicated in Table 11, on page 17.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCES OF THE CORPORATION 13

T ab le 6. A ssets and L iab ilities o f th e

F e d e ra l D ep osit Insurance C orporation, D ecem ber 31, 1957

ASSETS

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

U. S. Government obligations:

Securities, at amortized cost (face value $1,941,500,000;

market or redemption value $1,912,417,844).....................

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

Assets acquired In receivership and deposit assumption transactions:

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

Net insured balances of depositors in closed banks, to be

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

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

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

Assets purchased under agreements to return any excess

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

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

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

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

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

Total assets............................................................

LIABILITIES1

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

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

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

Due insured banks:

Net assessment income credits available July 1, 1958............

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

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

Net insured balances of depositors in closed banks—contra 

Reserve for deposit insurance expenses.........................................

Total liabilities......................................................

DEPOSIT INSURANCE FUND

Fund (See Table 7)*.......................................................................

Total liabilities and fu n d ....................................

$1,936,974,423

7,972,324

2,363,842

268,362

2,083,800

288,022

6,220,666

8,494

11,233,186

7,702,705

90,189,060

8,181,728

2,288,485

1,944,946,747

3,530,481

146,1601

$1,950,911,874

$ 543,255 

211,213 

1,034,832

98,370,788

2,615

268,362

21,382

$ 100,452,447

1,850,459,427

$1,950,911,874

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

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

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

from its inception to December 31, 1957. For the protection of depositors, in addition to this fund, the 

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

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

Income and expenses. The Corporation has two main sources of 

income: regular assessments upon insured banks, and interest on United 

States Government obligations in which the deposit insurance fund is 

invested. In addition, some incidental income is received from assets 

acquired from closed insured banks.

The assessment rate is one-twelfth of 1 percent annually of total 

deposits less certain authorized exclusions and deductions. This rate, 

set in the Banking Act of 1935, has continued since that time. However, 

under the credit arrangement provided by the Federal Deposit Insurance

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Act of 1950, a credit is given against current assessments amounting to 

60 percent of net assessment income for the prior year; i.e. assessment 

income remaining after deduction of the Corporation’s insurance losses 

and operating expenses. Accordingly, the effective assessment rate since 

1950 has been about one-twenty-eighth of 1 percent annually of deposits 

subject to assessment.

Assessments due the Corporation in 1957 totaled $159.2 million. After 

allowing for the net assessment income credit of $90.2 million to insured 

banks, income from assessments was $69.0 million. This amount, added 

to interest on United States Government securities of $48.2 million, 

brought the Corporation’s income to $117.2 million. Expenses and losses 

of the Corporation totaled $9.7 million, leaving net income of $107.5 

million. This income, with net adjustments of $0.9 million applicable to 

prior years, was added to the fund.

Income and expenses of the Corporation in 1957 are shown in Table 7, 

and are presented graphically in Chart B. A breakdown of expenses is 

given in Table 8.

C h a r t B. So u rces a n d D ispo sitio n o p I ncom e of t h e F e d e r a l

D e p o s it I n su r a n c e C o r p o r a t io n , 1957

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCES OF THE CORPORATION 15

Table 7. I ncom e an d E x p e n s e s of th e F e d e r a l D e p o s it I n su r a n c e

C o r po r a t io n a n d C h a n g e s in th e D e p o s it I n su r a n c e F und

for th e Y e a r E n ded D e c e m b e r 31, 1957

INCOME AND EXPENSES

Net incom e for the year ended December 31, 1957: 

Income:

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

Less net assessment income credit due insured banks 

(see table 10)......................................................................

Net income from U. S. Government securities 

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

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

Expenses and losses:

Administrative and operating expenses (see table 8)

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

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

Total expenses and losses

Net incom e (addition to the deposit insurance fund) 

for the year ended December 31, 1957.......................

DEPOSIT INSURANCE FUND

Deposit insurance fund, December 31, 1956.......................

Adjustments applicable to periods prior to January 1, 1957 

(increasing the fund):

By reduction of reserves for insurance losses (net):

Applicable to net assessment income...............................

Not applicable to net assessment income........................

By additional assessments (net)

Less loss on other purchased assets

Net adjustments

Deposit insurance fund, December 31, 1956 as adjusted.

Net income for the year ended December 31,1957 (see above)— 

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

Deposit insurance fund, December 31, 19571

1 See note 2, Table 6.

Table 8. A d m in istr a tiv e an d Ope r a t in g E x p e n s e s of th e F e d e r a l D e po s it

I n su r a n c e C o r po r a t io n for th e Y e a r E nded D ece m b e r 31, 1957

Personal services............................................................................................................... $ 6,666,652 

1,802,154 

15,564 

81,984 

432,423 

77,120 

42,991 

79,215 

417,978

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

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

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

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

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

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

Otlier contractual services...............................................................................................

T otal..........................................................................................................

Less recoverable expenses and other credits.................................................................

$ 9,616,081

7,253

Net>dmlnlstrativerand operating expenses........................................................... $ 9,608,828

$159,213,495

90,182,562

$ 69,030,933 

48,153,472 

8,215

$ 9,608,828 

76,517 

33,029

814,272

24,932

$ 839,204

74,052

$ 913,256

5,124

$ 117,192,620

9,718,374

$ 107,474,246

$1,742,077,049

908,132

$1,742,985,181

107,474,246

$1,850,459,427

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Income and expenses of the Corporation in each year of its operation, 

and cumulative through December 31, 1957, are presented in Table 9.

T ab le 9. I ncome and E xpen ses of the F ederal D eposit I nsurance

C orporation, b y Y ears, from B eginn in g of Operations, Septem ber 11, 1933,

to D ecember 31, 1957, A djusted to D ecember 31, 1957

(In millions)

Year

Income

Total

^ Deposit 

insurance

Investments

and

other

sources

Expenses and losses

Total

Deposit 

insurance 

losses and 

expenses

Interest 

on capital 

stock1

Administrative

and

operating

expenses

Net 

income 

added to 

deposit 

insurance 

fund*

1933-57.

1957____

1956____

1955____

1954____

1953....

1952....

1951___

1950___

1949....

1948....

1947....

1946....

1945....

1944....

1943.... 

1942___

1941....

1940....

1939....

1938___

1937___

1936....

1935.... 

1933-34.

$2,086.0

117.2

111.9

105.7

99.7

94.2

88.7

83.8

84.8

151.1

146.9

157.7

130.9

121.2 

99.5

86.7 

69.4 

62.0

55.9

51.2

47.7

48.2

43.8

20.8 

7.0

$1,518.83

69.0*

68.2*

66.1*

62.4*

60.2*

67.4*

54.3*

54.2*

122.7

119.3

114.4 

107.0

93.7 

80.9

70.0

66.5 

61.4

46.2

40.7

38.3

38.8

35.6

11.6 (<)

$567.2

48.2 

43.7 

89.6

37.3

34.0

31.3

29.5

30.6

28.4

27.6 

43.3

23.9

27.5

18.6

16.7

12.9 

10.6

9.7

10.5

9.4

9.4

8.2

9.3

7.0

$235.5

9.7

9.6

9.0

7.8

7.3

7.8

7.0

7.8

6.4

7.3

10.4

10.4

9.7

9.7

10.2

10.3 

10.1

12.9

16.4

11.3 

12.2

10.9

11.3 

10.0

$ 28.6

.1

.5

.3

.1

.1

.8

.1

1.4 

.3

.7

.1

.1

.1

.1

.2.5

.6

3.5 

7.2

2.5

3.7

2.6 2.8.2

$ 80.6

.6

4.8

5.8

5.8

6.8

5.8

6.8

5.8

5.8

6.8

5.8

5.8

5.8

5.8 

6.6

$126.3 $1,850.5

9.6 107.5

9.1 102.3

8.7 96.7

7.7 91.9

7.2 86.9

7.0 80.9

6.9 76.8

6.4 77.0

6.1 144.7

6.0 139.6

6.5 147.3

4.5 120.5

3.8 111.5

3.8 89.8

4.2 76.5

4.0 69.1

3.7 61.9

3.6 43.0

3.4 34.8

3.0 86.4

2.7 86.0

2.5 82.9

2.7 9.5

4.2* —3.0*

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

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

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

to which they are applicable, whereas the amounts of the fund shown in Table 11 represent the fund 

as reported on the dates specified. Hence the deposit insurance fund reported in Table 11 cannot be 

computed by annual addition of income reported herein, except for the fund as of December 31, 1957.

* Net after deducting the portion of net assessment income credited to insured banks, pursuant to 

provisions of the Federal Deposit Insurance Act of 1950.

* Assessments collected from insured banks, members of the temporary insurance funds which 

became insured under the permanent plan, were credited to their accounts in total at the termination 

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

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

the existence of the temporary insurance funds.

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

temporary insurance funds on June 30, 1934.

* Deduction.

Assessment credit. The assessment credit to insured banks for 1957 

amounted to $90.2 million, or 56.65 percent of the assessments due from 

insured banks. This amount has been allocated among insured banks 

in proportion to their assessments which became due in 1957, and becomes 

available to them on July 1, 1958, for use in paying current deposit 

insurance assessments. The computation of net assessment income in 

1957 is shown in Table 10.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCES OF THE CORPORATION 17

Table 10. D e t e r m in a t io n an d D is t r ib u t io n of N e t A ssessm en t I n com e of th e

F e d e r a l D e p o s it I n su r a n c e C o r po r a t io n fo r th e Y e a r E n d ed D e c e m b e r 31,1957

Determination of net assessment incom e:

Total assessments which became due during the calendar year

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

Net additions to reserves to provide for insurance losses:

Provided in 1957..................................................................

Adjustments to provisions for reserves made prior to 

1957 (reduction)...............................................................

Other insurance losses and expenses: 

Year ended December 31, 1957. . . 

Prior year adjustments..................

Total deductions. . . . 

Net assessment income for 1957.

Distribution of net assessment incom e, 

December 31, 1957:

Net assessment income for 1957:

40 percent transferred to deposit insurance fund. 

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

Total.

Allocation of net assessment incom e credit am ong 

insured banks, December 31, 1957:

Credit for 1957....................................

Adjustment of credits for prior years.

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

$ 76,517 

814,2721

$ 33,029

5,124

$90,182,562

6,498

$90,189,060

$159,213,495

$ 9,608,828 

737,7551 

38,153

$ 8,909,226

$150,304,269

$ 60,121,707 

90,182,562

$150,304,269

Percent of total 

assessments becoming due in 1957

56.64%

.01

56.65%

1 Deduct.

Table 11. I n su r e d D e po sit s an d t h e D e p o s it I n su r a n c e F u n d, 1934-1957

Year 

(Dec. 31)

Deposits in 

insured banks 

(in millions) Percent

of

deposits

insured

Deposit

insurance

fund

(in

millions)

1

Ratio of deposit 

insurance fund to—

Total Insured1 Total

deposits

Insured

deposits

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

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

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

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

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

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

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

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

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

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

1947........................................... 154,096 76,254 49.5 1,006.1 .65 1.82

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

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

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

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

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

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

1940........................................... 65,288 26,638 40.8 496,0 .76 1.86

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

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

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

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

1935........................................... 45,125 20,158 44.7 306.0 .68 1.52

1934........................................... 40,060 18,075 45.1 i

333.0 .83 1.84

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

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

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

L egal D evelopm ents

Federal legislation* No legislation directly affecting deposit insurance 

or insured banks in general was enacted during the First Session of the 

85th Congress. A bill (S. 1451) known as the Financial Institutions Act 

of 1957, to amend and revise the statutes governing financial institutions 

and credit, has been passed by the Senate and is now pending in the 

House of Representatives. Title III thereof contains a revision of the 

Federal Deposit Insurance Act.

State legislation. A summary of State banking legislation enacted 

in 1957 is given in Part Four of this report.

Organization an d Personnel

Directors and employees. The management of the Federal Deposit 

Insurance Corporation is vested in a bipartisan Board of Directors 

consisting of three members. The Comptroller of the Currency serves 

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

is named by the President for a term of six years. One of the appointed 

members is Chairman of the Board of Directors, and not more than two 

members of the Board may be members of the same political party.

During 1957 there were two changes in the membership of the Board 

of Directors. Maple T. Harl, who had been Chairman from January 5,

1946, to May 10, 1953, and thereafter a director, died on April 17, 1957. 

H. Earl Cook, who had been a director from April 10, 1947, to May 10, 

1953, and thereafter Chairman of the Board, retired on September 6, 

1957, at the expiration of his term of office. These vacancies were filled 

by the appointment of Mr. Erie Cocke and Mr. Jesse P. Wolcott. Mr. 

Cocke's term of office began August 5, 1957; Mr. Wolcott was given a 

recess appointment on September 12, 1957, and five days later became 

Chairman of the Board of Directors.1

The directors and other Corporation officials are listed on page v, and 

an organization chart of the Corporation is shown on page iv. Names 

of the Corporation's supervising examiners and locations of the district 

offices are given on pages vi and vii.

The Corporation had 1,181 employees on December 31, 1957. This 

represented an increase of 37 over the previous year-end. Almost threefourths of the Corporation's total personnel are employed in the Division 

of Examination. A distribution of the Corporation's employees according 

to Division and location is presented in Table 12.

1 Mr. Wolcott’s nomination was confirmed by the United States Senate on January 27, 1958, and 

President Eisenhower issued his commission for a six-year term beginning on that date.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ORGANIZATION AND PERSONNEL 19

Table 12. Num ber o f O ffic e rs and Em ployees o f th e

F e d e ra l D ep osit Insurance C orporation, D ecem ber 31, 1957

Division Total Washington

office

District 

and other 

field 

offices

T ota l........................................................................................... 1,181

8

291 890

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

Executive Offices.................................................................... 17 17

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

Division of Examination....................................................... 858 47 811

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

Division of Research and Statistics..................................... 44 44

Audit Division........................................................................ 63 16 47

Office of the Controller.......................................................... 120 120

During the last ten years employment has ranged from a low of 1,002 

to the 1957 high of 1,181. Turnover among personnel in 1957 was 18 

employees per 100, slightly higher than in 1956. At the end of 1957 the 

average service period of Corporation employees was approximately 

eight years. Nearly one-tenth had been with the Corporation 24 years, 

or virtually from its establishment in 1933. At the other extreme, about 

one-sixth of the employees had served less than one year. A distribution 

of employees by years of service is shown in Table 13.

Table 13. N um ber o f O ffic e rs and Em ployees o f th e F e d e ra l D ep osit

Insurance C orporation, D ecem ber 31, 1957, D istrib u te d

A ccording to L en gth o f Service

Length of service Number Percent

T o ta l................................................................................................ 1,181

196

100.0%

Less than 1 year........................................................................... 16.6

1 to 5 years............................................................................... 340 28.8

5 to 10 years............................................................................... 228 19.3

10 to 15 years............................................................................... 107 9.1

15 to 20 years............................................................................... 128 10.8

20 to 24 years............................................................................... 74 6.3

24 years......................................................................................... 108 9.1

Employee benefits and programs. Employees of the Corporation 

are eligible for the benefits generally available to Federal employees. 

Chief among these benefits are vacation and sick leave, retirement 

annuities, life insurance, compensation for on-the-job injuries, and unemployment benefits. Over 98 percent of the Corporation’s employees 

are included in the Civil Service Retirement System, the remaining 2 

percent being covered by the Social Security Act. About 96 percent of 

the eligible employees as of December 31, 1957, had availed themselves

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

of the group life insurance benefits provided under the Federal Employees 

Group Life Insurance Act of 1954. Disabling injuries to employees are 

covered by the Federal Employees' Compensation Act of 1916 (amended 

in 1949). Unemployment benefits extended January 1, 1955, provide 

compensation under terms of the respective State systems applicable 

to individual employees.

In addition to these general benefits, the Corporation provides hospitalization, surgical benefits, and in-hospital medical benefits for its employees, who may individually extend such insurance to cover dependents 

by paying the additional cost. The Corporation also provides facilities 

for an employees’ credit union, which is particularly helpful to examiners, 

who are prohibited by law from borrowing from insured banks.

The Corporation encourages examiners and auditors to take part in 

training programs and study courses made available by a number of 

educational institutions. The largest enrollment is in the study program 

of the American Institute of Banking; at the end of 1957 about half of 

the Corporation's examiners were enrolled in this program. In addition, 

50 employees were taking graduate study courses in banking at one or 

another of five universities. The direct costs of these programs are paid 

by the Corporation. In-service training is also provided examiners by 

the Inter-Agency Bank Examination School sponsored by the Federal 

bank supervisory agencies and conducted at the Board of Governors 

of the Federal Reserve System.

Table 14. A udit R eport of the F ederal D eposit I nsurance

C orporation for the Fiscal Y ear E nded June 30, 1957

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

W a s h in g to n 25

B -l14831 December 11, 1957

Board of Directors

Federal Deposit Insurance Corporation 

Gentlemen:

The General Accounting Office has made an audit of F ederal D eposit I nsurance

C orporation, an independent Government agency, for the fiscal year ended June 30,

1957, in accordance with section 17(b) of the Federal Deposit Insurance Act (12

U.S.C. 1827).

This audit included an examination of the balance sheet of Federal Deposit Insurance Corporation as of June 30, 1957, and the related statement of income and 

deposit insurance fund for the year then ended. The examination was made in accordance with generally accepted auditing standards and included such tests of the 

accounting records and such other auditing procedures as were considered necessary 

in the circumstances and appropriate in view of the effectiveness of the system of 

Internal control, including the work performed by the Corporation’s internal auditors.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
AUDIT OF THE CORPORATION 21

In our opinion, the accompanying balance sheet (exhibit 1) and statement of income 

and deposit insurance fund (exhibit 2) present fairly the financial position of Federal 

Deposit Insurance Corporation at June 30, 1957, and the results of its operations 

for the year then ended, in conformity with generally accepted accounting principles 

applied on a basis consistent with that of the preceding year and with applicable 

Federal laws.

Sincerely yours,

/s / J oseph C a m p b e l l

Comptroller General of the United States

Exhibit 1. 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 ,

B a l a n c e Sh e e t, J u n e 30, 1957

ASSETS

Gash.................................................................................................. $ 3,329,822 

1,921,657,841

U. S. Government obligations:

Securities, at amortized cost (face value, $1,919,000,000;

market or redemption value, $1,834,182,406)......................

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

$1,914,396,088

7,261,753

Assets acquired in deposit assumption and receivership 

transactions:

Subrogated claims of depositors against closed insured banks. 

Net balances of depositors in closed insured banks, to be

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

Loans to insured banks and to receiver of closed insured bank.

Equity in assets acquired under purchase agreements..........

Assets purchased outright...........................................................

3,899,999

317,689

2,447,755

6,376,377

8,494

Less estimate for losses...............................................................

13,050,314

8,123,864 4,926,450

Accounts receivable, deferred charges, and sundry assets. 138,465

Furniture, fixtures, and equipm ent, less accumulated 

depreciation of $637,941.......................................................... 1

LIABILITIES AND DEPOSIT INSURANCE FUND

$1,930,052,579

Accounts payable and accrued liabilities.............................. $ 564,395

Earnest m oney, escrow funds, and collections held for 

others....................................................................................... 264,475

Employees’ accrued annual leave............................................ 1,099,684

Deferred credits................................................. .......................... 7,510

Net balances of depositors in closed insured banks— 

contra....................................................................................... 317,689

Net assessment Income credits due insured banks (note 1):

Available July 1, 1957.......... .....................................................

Estimated amount available July 1, 1958, from net assessment income for 6 months ended June 30, 1957..................

$ 87,408,210 

45,009,003 132,417,213

Total liabilities.......................................................... 134,670,966

Deposit insurance fund, representing accumulated income 

from inception to June 30,1957, available for future deposit 

insurance losses and related expenses (note 2 and exhibit 2). 1,795,381,613

$1,930,052,579

The notes following exhibit 2 are an integral part of this statement.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

E xhibit 2. F ederal D eposit I nsurance C orporation, Statem ent op I ncome

and D eposit I nsurance F und for the Fiscal Y ear E nded June 30, 1957

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

Deduct net assessment income credits due insured banks (note 1)

Income from U. S. Government securities...................................

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

Deduct:

Administrative and operating expenses:

Salaries.................................................................................... .

Travel.......................................................................................

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

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

Nonrecoverable deposit insurance expenses............................ .

Deduct increase in estimate for deposit insurance losses on 

acquired banking assets:

Loss estimate on cases acquired during the year....................

Reduction in loss estimate on prior year caseB.......................

Net income for year transferred to deposit insurance fund

Deposit insurance fund, June 30, 1956.......................................

Deposit insurance fund, June 30, 1957 (note 2 and exhibit 1).

$6,471,213

1,659,814

424,272

484,624

9,039,923

149,452

785,566

108,425

$ 157,299,472 

88,446,912

68,852,560

45,516,296

60,879

114,429,735

9,189,375

105,240,360

677,141

104,563,219

1,690,818,394

$1,795,381,613

N otes to the Fin ancial Statem ents— June 30, 1957

1. Section 7(d) of the Federal Deposit Insurance Act (12 U.S.C. 1817 (d)) provides that, as of December 31, 1950, and as of December 31 of each year thereafter, the Corporation shall credit pro rata 

to the insured banks 60 percent of the net assessment income (as defined by the act) for the calendar 

year, the credit to be applied toward the payment of assessments becoming due for the semiannual 

period beginning the next July 1 and any excess credit to be applied to the assessment of the following 

period.

At June 30, 1957, the net amount due the banks for credits computed on the net assessment income 

for calendar year 1956 and on adjustments of such income for prior years was $87,408,210. The actual 

amount of credit due the banks from calendar year 1957 net assessment income is not determinable 

until after December 31, 1957. However, an estimated credit for the first 6 months of 1957 has been 

computed to be $45,009,003.

2. At June 30, 1957, the deposit insurance fund of $1,795,381,613 was equivalent to 1.51 percent 

of the insured deposits in all banks, estimated by the Corporation at 118.9 billion dollars. This fund, 

however, is not a measure of the deposit insurance risk, and its adequacy to meet future losses will 

depend on future economic conditions which cannot be predicted. From its inception to June 30, 1957, 

the Corporation disbursed about $342,700,000 in protecting depositors of 432 insured banks and facilitating the termination of liquidations, on which incurred losses amount to $28,910,205, including estimated losses of $8,123,864 on cases not terminated.

Existing law does not specify either the amount or the ratio of insured deposits to which the insurance 

fund is to be accumulated.

The Corporation may borrow from the United States Treasury, at interest, such funds as in the 

judgment of the board of directors of the Corporation are required from time to time for insurance 

purposes, not exceeding, in the aggregate, three billion dollars outstanding at any time. The Corporation 

has never used this borrowing power.

3. In accordance with the law, the Corporation has not borne the Government's share of the cost 

of providing retirement, disability, and compensation (including unemployment) benefits for the employees of the Corporation. These costs are estimated to be approximately $290,000 for the fiscal year 

1957.

4. The securities owned by the Corporation at June 30, 1957, with a face value of $1,919,000,000, 

were held in safekeeping by the Treasurer of the United States ($1,197,500,000) and by the Federal 

Reserve Bank of New York ($721,500,000). The cash balance ($3,329,822) of the Corporation at that 

date included $2,950,155 deposited with the Treasurer of the United States.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART TWO

BANKING DEVELOPMENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N um ber of Ba n k s and T heir In surance Status

Banks and banking offices. There were 22,907 banking offices in 

the United States on December 31, 1957, an increase of almost 600 during 

the year. As in every year since 1947, the number of banks continued to 

decline in 1957. However, the number of branches continued to increase, 

and at the end of 1957 constituted 38 percent of all banking offices. The 

number of banks and branches at the end of each year from 1947 to 1957, 

and the changes occurring during that period, are given in Table 15. The 

percentage change in number of banking offices in each State between 

December 31, 1947, and the end of 1957 is shown in Chart C.

Table 15. N u m b e r an d C h a n g e s in B a n k in g O ff ic e s in th e

U n ite d Sta t e s (C o n t in e n t a l U. S. an d O t h e r A r e a s ), 1947-1957

Year

Number at end of year Change in number Percentage change

or

period Total Total Total

banking Banks Branches1 banking Banks Branches1 banking Banks Branches1

offices offices offices

1948-1957 3,732 -637 4,369 19.5% -4.3% 99.1%

1957 ,. 22,907 14,130 8,777 593 -78 671 2.7 -.5 8.3

1956 22,314 14,208 8,106 639 -76 715 2.9 -.5 9.7

1955 , 21,675 14,284 7,391 515 -125 640 2.4 -.9 9.5

1954 ,,, 21,160 14,409 6,751 381 -143 524 1.8 -1.0 8.4

1953 . . . 20,779 14,552 6,227 329 -65 394 1.6 -.4 6.8

1952 20,450 14,617 5,833 295 -44 339 1.5 -.3 6.2

1951 20,155 14,661 5,494 304 -32 336 1.5 -.2 6.5

1950 19,851 14,693 5,158 251 -43 294 1.3 -.3 6.0

1949 19,600 14,736 4,864 234 -17 251 1.2 -.1 5.4

1948 19,366 14,753 4,613 191 -14 205 1.0 -.1 4.7

1947 19,175 14,767 4,408

1 Includes “ facilities” at military or other Federal government installations.

In 1957, for the ninth consecutive year, the number of banks absorbed 

by other banks exceeded the number beginning operations. Ninety 

percent of the banks absorbed in 1957 were converted into branches, 

but they accounted for only one-fifth of the net increase in branches 

during the year. An analysis of the changes in the number of banking 

offices during the years 1948-1957 is presented in Table 16.

Types of operating banks and their insurance status. On December 31, 1957, approximately 95 percent of all banks operating in the 

United States participated in insurance provided by the Federal Deposit 

Insurance Corporation. More than 97 percent of all commercial banks 

and nearly 46 percent of the mutual savings banks, were so insured. 

Trust companies not regularly engaged in deposit banking are not eligible 

for Federal deposit insurance.

25

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

C h art C . P ercen ta ge Change in Num ber o f B anking O ffic e s in

Each S ta te, D ecem ber 31, 1947, to D ecem ber 31, 1957

Table 16. A n alysis o f Changes in th e N um ber o f Banking O ffic e s in

th e U nited S ta te s (C o n tin en ta l U. S. and O th e r A reas), 1948-1957

Year

All 

banking 

offices— 

net 

increase

Banks Branches

Net

change

Began

operations1

Ceased

operations

Other 

additions 

to (+ ) 

or deletions 

from 

(-) 

count— 

net4

Net

increase

Opened for 

business

Discontinued

total®

Other 

additions 

to (+ ) 

or deletions 

from 

(-) 

count— 

net1

Absorbed5

Liquidated8

Succeeded

absorbed

banks

Other

new

branches5

1957 593 -78 87 161 5 + 1 671 145 555 33 + 4

1956 639 -76 119 189 9 + 3 715 168 582 39 + 4

1955 515 -125 116 231 10 640 206 483 50 + 1

1954 381 -143 72 207 9 + 1 524 181 378 37 + 2

1953 329 -65 65 115 12 -3 394 97 323 29 + 3

1952 295 -44 69 99 16 + 2 339 84 278 21 -2

1951 304 -32 63 78 18 + 1 336 59 298 24 + 3

1950 251 -43 69 89 15 -8 294 73 231 22 + 12

1949 234 -17 72 76 20 + 7 251 61 195 8 + 3

1948 191 -14 78 77 15 205 59 162 20 + 4

1 Mostly new banks, but includes a few previously operating financial institutions which became 

banks of deposit.

2 Net decrease as a consequence of absorptions, consolidations, and mergers (excluding cases involving financial aid by the Federal Deposit Insurance Corporation).

8 Suspensions and voluntary liquidations, including cases of banks the deposits of which were 

assumed by other insured banks with the financial assistance of the Federal Deposit Insurance Corporation.

< Includes revisions in classification and changes occurring in prior years on which no information 

was available until given year.

5 Includes a small number of branches replacing banks relocated or placed in liquidation or receivership and facilities established in or near military or other Federal government installations.

• Includes facilities discontinued at military or other Federal government installations.

Detailed data: Table 101, Annual Reports of the Federal Deposit Insurance Corporation, 1948-1957.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
NUMBER OF BANKS AND THEIR INSURANCE STATUS 27

In Table 17 the number and deposits of all banks in the United States 

are shown by type of bank and insurance status.

Table 17. Num ber and D eposits o f a l l Banks in th e U nited

S ta tes (C o n tin en ta l U. S. and O th er A reas), D ecem ber 31, 1957

Number or deposits Percentage of total

Total Insured

banks

Noninsured

banks

Insured

banks

Noninsured

banks

Number of banks—total.......................... 14,130 13,404 726 94.9% 5.1%

Banks of deposit....................................... 14,074 13,404 670 95.2 4.8

Commercial............................................. 13,551 13,165 386 97.2 2.8

Mutual savings....................................... 523 239 28k U5.7 5 k.3

Trust companies not regularly engaged

in deposit banking............................... 56 56 100.0

Deposits (in m illions)—total.................. $234,178 $225,507 $8,671 96.3 3.7

Banks of deposit....................................... 234,116 225,507 8,609 96.3 3.7

Commercial............................................. 202,k21 200,U85 1,936 99.0 1.0

Mutual savings....................................... 31,695 25,022 6,673 78.9 21.1

Trust companies not regularly engaged

in deposit banking1........................ .. 62 62 100.0

1 Deposits of these companies consist of uninvested trust funds and special accounts. 

Detailed data: See Table 103, pp. 94-95.

Mobile banking. An innovation in banking occurred during 1957

when the Corporation approved the establishment of mobile branch units 

by the Banco Popular de Puerto Rico, San Juan, Puerto Rico, and the 

Banco Credito y Ahorro Ponceno, Ponce, Puerto Rico.

The applications for mobile branches were approved only after the 

Legislature of Puerto Rico had specifically authorized the establishment 

of mobile branches and defined the conditions of their operation. Before 

the establishment of such a branch is approved, the Secretary of the 

Treasury of Puerto Rico must find that its operation promises “public 

benefit” . He also determines the types of service it may offer and the 

location, dates, and hours of operation. Mobile branches are limited to 

one in each community, and none may operate in a community after 

establishment of a bank or a fixed branch with permanent quarters.

The first mobile branch established under this legislation was that of 

the Banco Popular de Puerto Rico, at Guaynabo, which opened on November 18,1957. The Banco Credito y Ahorro Ponceno opened two mobile 

branches on November 26, and two more on November 27. All offer a 

rounded banking service, including both the acceptance of deposits and 

the making of loans. The mobile banking quarters are housed in motor 

vehicles which travel on announced schedules; no business is permitted 

between scheduled stops and the units must return to their home offices 

regularly. Authorization of the branches is subject to Corporation review 

after two years7 operation.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

B a n k A ssets

Changes in total assets in 1957 and prior years. On December 31, 

1957, the assets of all banks amounted to $259 billion, an increase of 2.9 

percent during the year. The percentage of increase in assets during 1957 

was lower than for any other year since 1953. In the ten years ended 

December 31, 1957, the assets of all banks increased 47 percent. Chart D 

shows the percentage change in the assets of all banks in each of the 

Federal Deposit Insurance Corporation districts for the period December

31, 1947, through December 31, 1957.

Chart D. P e r c e n t a g e C h a n g e in T o t a l A s s e ts o f A l l B a n k s in t h e 

U n ite d S ta te s (C o n t in e n t a l U. S. a n d O t h e r A r e a s ), b y 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 t io n D is t r ic t , D e c e m b e r 31, 1947, t o D e c e m b e r 31, 1957

In 1957, as was also true in each year since 1951, the rate of growth 

of mutual savings banks exceeded that of commercial banks. In the 

10-year period ended December 31, 1957, the assets of mutual savings 

banks increased 78 percent, while the assets of commercial banks increased 

43 percent. Insured banks held 99 percent of the assets of all commercial 

banks on December 31, 1957, compared with 98 percent ten years earlier. 

Mutual savings banks participating in Federal deposit insurance held 

79 percent of the assets of all mutual savings banks at the end of 1957, 

compared with 68 percent ten years previously. These changes were 

primarily the result of the admission of banks to Federal deposit insurance. 

The percentage changes in assets of all banks in each of the years 1948- 

1957 are shown in Table 18.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANK ASSETS 29

Table 18. P ercen ta ge Changes in T o t a l A ssets, A l l Banks in th e U nited

S ta tes (C o n tin en ta l U. S. and O th er A reas), A n n u a lly

AND FOR THE PERIOD, 1948-1957

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

Year

or

period

All

banks

Commercial banks Mutual savings banks

Total Insured Noninsured Total Insured Noninsured

1948-1957 47.3% 43.3% 45.0% -29.4% 78.4% 105.0% 20.6%

1957.......... 2.9 2.5 2.5 -1.0 5.6 9.4 -6.6

1956.......... 3.6 3.2 3.3 -6.6 6.5 7.8 2.7

1955.......... 4.5 4.1 4.3 -4.8 6.8 6.7 7.1

1954.......... 5.2 4.8 5.0 -4.1 7.9 8.1 7.3

1953.......... 2.9 2.3 2.3 .9 7.5 9.3 2.6

1952.......... 5.4 5.1 5.2 -2.0 7.7 8.7 4.9

1951.......... 6.0 6.2 6.4 -2.9 4.7 7.7 -2.6

1950.......... 6.8 7.1 7.4 -5.2 4.2 5.6 .7

1949.......... 2.3 1.9 2.1 -6.1 5.0 6.4 1.7

1948 0) -.5 -.4 -2.3 3.9 4.8 1.8

1 Increase less than .05 percent.

Composition of total assets. The distribution of assets of all banks 

in the United States on December 31, 1957, is shown in Table 19. On 

that date loans and discounts comprised 45 percent of total assets, 

securities 34 percent, and cash and due from banks 19 percent.

Table 19. D istrib u tio n o f A ssets o f A l l Banks in th e U nited S tates

(C o n tin en ta l U. S. and O th er A reas), D ecem ber 31, 1957

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in millions)

All

banks

Commercial banks Mutual savings banks

Assets

Insured Noninsured Insured Noninsured

Total assets........................................ $259,188 $221,534 $2,486 $27,671 $7,497

Cash and funds due from banks... 49,539 48,219 431 719 171

Securities.......................................... 89,118 75,330 1,223 9,341 3,224

U.S. Government obligations. . .. 66,066 57,686 828 5,WU 2,1 U8

Obligations of States and subdivisions .................................... lb ,669 13,733 255 58k 98

Other securities.............................. 8,382 3,911 140 3,353 978

Loans and discounts, net................ 115,760 93,801 742 17,194 4,022

Valuation reserves............................. 2,000 1,776

95,577

■4 199 21

Loans and discounts, gross............. 117,760 746 17,393 4,043

Commercial and industrial........... 1*0,825 UO,5 b6 230 A6 U

Agricultural (<except real estate)... U,087 U,030 55 2

For carrying securities.................. It,250 U,171 70 6 's

Real estate..................................... U,506 23,10U 233 17,210 3,959

Other loans to individuals............. 20,512 20,200 131 108 73

All other loans............................... 3,581 3,526 28 21 6

Fixed and miscellaneous assets. . . . 4,771 4,185 90 417 80

Number of banks, Dec. 31, 1957. . . . 14,130 13,165 442 239 284

Detailed data: See Table 108, pp. 106-107.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

During the year 1957 the volume of securities held by all banks increased by $1.8 billion, after having declined in both 1955 and 1956. 

Loans and discounts continued to rise in 1957, but the $5.1 billion increase 

was the smallest since 1954. Changes in the assets of all banks in each of 

the 3^ears from 1948 to 1957 are shown in Table 20.

T ab le 20. C hanges in A ssets o f A l l B anks in th e U nited S ta tes

(C o n tin en ta l U. S. and O th er A reas), A n n u a lly and

f o r th e Period, 1948-1957

(Amounts in billions)

Year or period Total

assets

Cash and 

due from 

banks

Securities

Loans

and

discounts

Fixed

and

miscellaneous

1948-1957......................... $83.2 $11.0 $- 3.3 $72.5 $ 2.9

1957............................... 7.2 -0.3 1.8 5.1 0.6

1956............................... 8.9 1.9 -3.7 10.1 0.7

1955............................... 10.4 3.2 -7.5 14.5 0.1

1954............................... 11.6 -1.2 7.2 5.1 0.5

1953............................... 6.3 0.2 0.9 5.0 0.2

1952............................... 11.0 (}) 2.9 7.9 0.1

1951............................... 11.6 4.5 -0.4 7.3 0.3

1950............................... 12.2 4.6 -3.4 10.9 0.2

1949............................... 4.0 -3.0 5.5 1.4 0) 1948............................... 0.1 1.1 -6.5 5.2 0.2

1 Increased less than $50 million.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

In the 10-year period ended December 31, 1957, the changed composition of assets of all banks was reflected in varying degree in different 

parts of the nation. In each of the twelve Federal Deposit Insurance 

Corporation districts the percentages of total assets consisting of cash 

and due from banks and of securities decreased. These decreases were 

largely balanced by the increased percentage of assets composed of 

loans and discounts. In Districts 1, 2, and 3, comprising ten States in 

the northeastern part of the country, and 9, which includes three northcentral States, the percentages of loans and discounts to total assets 

approximately doubled in the 10-year period. On December 31, 1957, 

loans and discounts exceeded security holdings in all except four districts. 

The percentage distributions of assets in all banks in each of the twelve 

districts at the end of 1947 and the end of 1957 are shown in Chart E.

On December 31, 1957, when loans of all insured commercial banks 

taken together wrere 43 percent, United States Government obligations 

26 percent, and municipal obligations 6 percent of their total assets, 

there were sizeable variations among the individual banks in holdings 

of loans and investments. There was a greater clustering around the 

average in the case of loans than in securities. Almost a tenth of the banks 

held no municipal obligations, while about three-fourths of the banks 

held a larger than average share of their assets in United States GovernDigitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANK ASSETS 31

C h a r t E. P e r c e n t a g e D is t r ib u t io n o f A sse ts, A l l B a n k s in th e

U n it e d Sta t e s (C o n t in e n t a l U. S. a n d Ot h e r A r e a s ), b y 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 D is t r ic t, D e c e m b e r 31, 1947, a n d D e c e m b e r 31, 1957

1947

0 20% 40% 60% 80% (00%

1957

0 20% 40% 60% 80% 100%

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

ment obligations. A distribution of insured commercial banks as of 

December 31, 1957, grouped by deposit size of bank and individual ratios 

of loans and securities to total assets, is given in Table 111, pages 114-115.

Types o f loans. Total loans of all banks increased 4.8 percent in 1957. 

The rate of increase in 1956 was 10 percent, and in 1955 almost 17 percent.

Loans of mutual savings banks rose 7.2 percent in 1957, wThile loans 

of commercial banks increased 4.2 percent. Almost all of the loans of 

mutual savings banks are secured by real estate. Of the major types of 

loans held by commercial banks, consumer instalment loans showed the 

largest advance, a rise of 9.1 percent; commercial and industrial loans 

were 4.8 percent higher, and real estate loans advanced 2.7 percent. 

Table 21 shows the amounts and percentage distributions of the principal 

types of loans held by all banks at the end of 1957.

T ab le 21. P rincipal Types o f Loans o f A l l Banks in th e U n ited S ta tes

(C o n tin en ta l U. S. and O th er A reas), D ecem ber 31, 1957

banks grouped according to insurance sta tu s and type o f bank

All

banks

Commercial banks Mutual savings banks

Insured Noninsured Insured Noninsured

A m ount (in millions)

Total loans..................................... $117,760 $95,577 $746 $17,393 $4,044

Real estate................................... 44,506 23,104 233 17,210 3,959

For carrying securities................ 4,250 4,171

4,030

70 6 3

Agricultural (except real estate). 4,087

40,825

55 2

Commercial and industrial......... 40,546 230 46 4

Other loans to individuals.......... 20,512 20,200 131 108 73

All other....................................... 3,581 3,526 27 21 6

Percentage distribution

Total loans..................................... 100.0% 100.0% 100.0% 100.0% 100.0%

Real estate................................... 37.8 24.2 31.2 99.0 97.9

For carrying securities................ 3.6 4.4 9.4 0) 0.1

Agricultural (except real estate). 3.5 4.2 7.4 (l)

Commercial and industrial......... 34.7 42.4 30.8 0.3 0.1

Other loans to individuals.......... 17.4 21.1 17.6 0.6 1.8

All other....................................... 3.0 3.7 3.6 0.1 0.1

1 Less than .05 percent.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

In the 10-year period ended December 31, 1957, real estate loans and 

consumer loans increased as percentages of the total loans of all banks; 

while commercial and industrial loans and loans for carrying securities 

declined. The percentage distributions of the loans of all banks on December 31, 1947, and December 31, 1957, in each Federal Deposit Insurance Corporation district are shown in Chart F. Considerable variation 

among the districts in the proportions of total loans represented by the 

major categories of loans, and also substantial changes between 1947 

and 1957 in such proportions, are indicated by this chart.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANK ASSETS 33

C h a rt F . P e r c e n t a g e D is t r ib u t io n o f L oa n s, A l l B a n k s in t h e 

U n ite d S t a t e s ( C o n t in e n t a l U. S. an d O t h e r A r e a s ), b y F e d e r a l D e p o s it 

I n s u r a n c e C o r p o r a t io n D is t r ic t , D e c e m b e r 31, 1947 and D e c e m b e r 31, 1957

1947

40% 60%

UNITED

STATES

DISTRICT

I

UNITED 

STATES 

01 STRICT 

I

100%

I REAL ESTATE 

COMMERCIAL AND 

INDUSTRIAL

[H T T T l FOR CARRYING SECURITIES

F = R AGRICULTURAL (EXCEPT 

REAL E S T A T E )

J OTHER LOANS TO INDIVIDUALS 

V^Z\ A L L OTHER LOANS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Investment in securities. On December 31, 1957, total investments 

in securities by all banks were 2 percent higher than a year earlier, but 

4 percent lower than at the end of 1947. Moreover, during the 10 years 

ended December 31, 1957, important changes occurred in the composition 

of total investments. As shown in Chart G, obligations other than United 

States Government obligations more than doubled their proportion of 

total investments during this period. Considerable differences exist also 

between the composition of investments of commercial banks and that 

of mutual savings banks. Commercial banks on December 31, 1957, 

reported 77 percent of their investment portfolio in obligations of the 

United States Government, 18 percent in obligations of States and their 

subdivisions, and 5 percent in other securities. On the same date, the 

corresponding percentages for mutual savings banks were 60, 5, and 35, 

the “ other” category consisting largely of corporate securities.

C h a r t G . S e c u r it ie s O w n e d b y A l l B a n k s in t h e U n ite d S t a t e s 

(C o n t in e n t a l U . S. a n d O t h e r A r e a s ), D e c e m b e r 31, 1947, a n d 

D e c e m b e r 31, 1957

During 1957 the investments of all banks in marketable direct obligations of the United States Government became more concentrated in 

shorter maturities. The proportion of such investments maturing in less 

than five years rose from 67 percent in 1956 to 73 percent at the end of 

1957. At the same time the proportion of obligations maturing in five 

to ten years declined from 19 percent to 14 percent, and those maturing 

in more than ten years fell slightly to 13 percent.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANK ASSETS 35

The maturity distribution of marketable direct obligations of the United 

States Government owned by commercial banks differs greatly from that 

of those held by mutual savings banks. On December 31, 1957, such 

securities owned by commercial banks were divided 78 percent maturing 

under five years, 14 percent between five and ten years, and 8 percent 

with maturities of ten years or longer; for mutual savings banks the 

percentages were 27, 10, and 63, respectively.

Ba n k D eposits

Changes in deposits in 1957 and prior years. On December 31,

1957, total deposits in all banks amounted to $234 billion, an increase 

of 2.4 percent during the year. This was the lowest rate of increase in 

any year since 1949. The entire increase was in time deposits; demand 

deposits declined for the first time since 1948. Chart H shows the percentage change in the deposits of all banks in the United States for each 

year of the 1948-1957 period.

Chart H . P e r c e n t a g e C h a n g e in D e p o s its o f A l l B a n k s in t h e 

U n ite d S t a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s ), A n n u a lly , 1948-1957

The deposits of individual banks sometimes decline even though 

deposits in the banking system as a whole are increasing. Although this 

is to be expected in an economy such as ours, continued losses of deposits 

by a bank may be a cause of concern. In the approximately 2-year period 

from June 30, 1955, to June 6, 1957, the total deposits of all banks rose

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

about 4 percent, yet more than one-fifth of the banks submitting statements on both these dates reported that deposits declined. Of the banks 

reporting declining deposits, three-fourths had decreases of less than

10 percent. The number of banks reporting declining deposits between 

June 30, 1955, and June 6, 1957, by percentage of decline and by Federal 

Deposit Insurance Corporation district, are shown in Table 22.

Table 22. Insured Com m ercial Banks in th e U nited S ta tes (C o n tin en ta l

U. S. and O th er A reas), in W hich D eposits D eclin ed B etw een

June 30, 1955, and June 6, 1957

Item Number of banks 

showing decline

Percentage of banks 

in U. S. or district

Total United States............................................................ 2,788 21.2%

With percentage decline of—

Less than 5...................................................................... 1,298 9.9

5 to 10........................................................................ 781 5.9

10 to 15........................................................................ 425 3.2

15 to 20........................................................................ 179 1.4

20 to 25........................................................................ 69 .5

25 or more................................................................... 36 .3

Federal Deposit Insurance Corporation district

1....................................................... 88 20.9

I I ..................................................... 102 13.4

I l l ................................................................................ 212 15.5

IV ................................................................................. 127 12.8

V ................................................................................... 86 8.7

V I................................................................................. 221 15.3

V II............................................................................... 216 15.5

V III.............................................................................. 376 24.9

I X ................................................................................. 206 18.9

X .................................................................................. 748 51.6

X I ................................................................................ 355 32.0

X II............................................................................... 51 15.5

Components of bank deposits. During the period December 31, 

1947, to December 31, 1957, the rate of increase in time and savings deposits in all banks was more than twice as great as that of demand 

deposits. The deposits in mutual savings banks, which consist almost 

entirely of time and savings deposits, expanded 78 percent, compared 

with a growth of 40 percent in total deposits of commercial banks. 

During the same period, demand deposits of commercial banks increased 

32 percent, and time and savings deposits 62 percent. On December 31,

1947, time and savings deposits constituted 25 percent of total deposits 

in commercial banks; ten years later they were 29 percent. The deposits 

of all banks in the United States by type and insurance status of banks 

on December 31, 1957, together with percentage changes for the 10-year 

period ended on that date, are shown in Table 23.

Ba n k Capital

Capital accounts and their growth. During the year ended December 31, 1957, total capital accounts of all banks increased approxiDigitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANK CAPITAL 37

Table 23. D ep osits o f A l l Banks in th e U nited S tates (C o n tin en ta l U. S. and

O th er A reas), D ecem ber 31, 1957, and P ercen tage C hanges From 1947 to 1957

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

Deposits or 

percentage change

All

banks

Commercial banks Mutual savings banks

Total Insured Noninsured Total Insured Noninsured

Am ount (in millions) 

Dec. 31, 1957

Total deposits.............. $234,178 $202,483 $200,485 $1,998 $31,695 $25,022 $6,673

Business and personal: 

Demand1................. 113,780 113,756 112,792 964 24 24 (2)

Time and savings... 85,403 53,751 53,325 426 31,652 24,982 6,670

States and subdivisions 13,655 13,642 13,400 243 13 11 2

United States Government ........................ 4,268 4,264 4,181 82 4 3 1

Interbank and postal 

savings deposits. . .. 17,072 17,071 16,787 284 2 2 (2) Total demand deposits. 1U,210 1U,179 14-2,827 1,852 81 30 1

Total time deposits.... 89,968 58,805 57,658 6k7 81,66k 21t,998 6,671

Percentage change Dec. 

31, 1947, to Dec. 31, 

1957

Total deposits.............. 43.9% 39.7% 41.3% -35.1% 78.4% 105.0% 20.1%

Business and personal: 

Demand1................. 29.4 29.4 30.7 -39.5 71.4 100.0 -75.7

Time and savings... 62.8 54.9 57.0 -43.0 78.4 105.0 20.1

States and subdivisions 75.3 75.2 78.2 -8.3 550.0 450.0 100.0

United States Government ........................ 178.2 178.5 191.8 -16.3 33.3 50.0

Interbank and postal 

savings deposits. . . . 30.8 30.8 32.4 -24.3 100.0 100.0 380.0

Total demand deposits. 82.8 82.8 83.6 -88.7 82.U llb.8 -66.7

Total time deposits.... 67.U 62.0 65.0 -87.7 78.U 105.0 20.1

Number of banks

December 31, 1957........ 14,130 13,607 13,165 442 523 239 284

December 31, 1947........ 14,767 14,234 13,403 831 533 194 339

1 Includes certified and officers’ checks, cash letters of credit, etc.

2 Amount less than $500,000.

Detailed data for 1957: See Table 108, pp. 106-107.

Note: Due to rounding differences, data may not add precisely to the indicated totals.

mately $1.2 billion. This represented an increase of 6.1 percent, which 

was greater than the growth in assets, thus resulting in a higher ratio of 

total capital accounts to total assets. For insured commercial banks, 

the ratio rose to an average of 7.7 percent; a distribution of the ratios 

of individual banks is shown in Table 111, pages 114-115.

The ratio of capital to total assets of all banks in each of the Federal 

Deposit Insurance Corporation districts on December 31, 1947 and 1957, 

is shown in Chart I. The banks in Districts 1, 2, and 3 in the northeastern 

part of the nation, which in 1947 had the highest capital ratios, showed 

smaller increases during the 10-year period than the banks in the other 

districts, but maintained their lead.

On December 31, 1957, approximately three-tenths of the total capital 

accounts of commercial banks was represented by capital stock; the 

balance consisted of surplus, undivided profits, and reserves. The capital

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

accounts and capital ratios of all banks by class and insurance status 

on December 31, 1957, are shown in Table 24.

Chart I. R atio o f T o t a l C a p ita l A ccou n ts to T o t a l A ssets, A l l Banks in th e

U n ited S ta tes (C o n tin en ta l U. S. and O th er A reas), by F e d e ra l D ep osit

Insurance C orporation D istric t, D ecem ber 31, 1947, and D ecem ber 31, 1957

1947 1957

0 2% 4% 6% 8% 10% 0 2% 4% 6% 8% 10%

UNITED 

STATES

DISTRICT

I

n

m

i

ir

in

wr

II

I

n 

nr

0 2% 4% 6% 8% 10% 0 2% 4% 6% 8% 10%

Table 24. T o t a l C a p ita l A ccou n ts and R atios to T o t a l A ssets o f A l l Banks

in th e U nited S ta te s (C o n tin en ta l U. S. and O th er A reas), D ecem ber 31, 1957

(Amounts in millions)

Capital item All

banks

Commercial banks Mutual savings banks

Total Insured

Non 

insured 

banks 

and trust 

companies

Total Insured Noninsured

Capital accounts—total.

Common stock.. ............

$20,536

5,241

67

10,546

4,010

672

7.9%

$17,477

5,241

67

8,374

3,310

484

7.8%

$17,086

5,124

46

8,241

3,232

443

7.7%

$391

117

21

133

78

41

15.7%

$3,059 $2,308 $751

Preferred capital............

Surplus and guaranty

funds...........................

Undivided profits...........

Reserves.............. ...........

Ratio of total capital accounts to total assets.

(l)

2,172

700

188

8.7%

0)

1,743

403

163

8.3%

429

297

25

10.0%

1 Book value for insured mutual savings banks included with “ Reserves” — retirable value of 

$3,030,000.

Note: Due to rounding differences, data may not add precisely to the indicated totals.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED BANKS 39

I n c o m e o f I n s u r e d B a n k s

Income of insured banks, both commercial and mutual savings banks, 

was higher in 1957 than in any previous year. Current operating expenses 

rose at a more rapid rate than current operating earnings, but they 

increased less in amount, permitting net current operating earnings to 

advance. In the case of insured commercial banks, larger net current 

operating earnings than in 1956, together with smaller net charge-offs, 

produced a 17 percent increase in net profits before income taxes. Although income taxes were greater, higher dividends were paid to stockholders, and larger additions made to capital accounts. Insured mutual 

savings banks paid more dividends and interest to depositors, but their 

additions to surplus accounts did not equal those of the preceding year.

Growth of bank income in 1957 and prior years. The total income 

of insured commercial banks, consisting of current operating earnings 

plus recoveries, transfers from valuation reserves, and profits on assets 

sold, was 10 percent greater in 1957 than in 1956. The gain was entirely 

from higher current operating earnings, since the other items declined. 

Total income increased in each of the years from 1948 to 1957, and in 

1957 was well over twice as great as in 1948.

Total income of insured mutual savings banks increased by 13 percent 

in 1957. As in the case of the insured commercial banks, the entire increase was in current operating income. In the period from 1948 to 1957 

the percentage increase in total income was approximately the same for 

insured mutual savings banks as for insured commercial banks.

Sources of income of insured commercial banks. Of the $8.2 

billion total income of insured commercial banks in 1957, approximately 

three-fifths was received from loans and one-fifth from securities. At the 

close of World War II roughly two-fifths of the total income was received 

from each of these sources. In 1957 interest and dividends on securities 

was slightly over 50 percent greater than in 1948, the increase being due 

almost entirely to higher yields. In the same period, income from loans 

more than tripled as a result of an increase of one-third in rates and a rise 

of 130 percent in the average volume of loans. Average rates of income 

received on various types of assets by insured banks in the years from 

1948 to 1957 are shown in Chart J.

Income from other sources yields approximately one-fifth of total 

income of insured commercial banks. In 1957 the income received from 

service charges on deposit accounts rose 14 percent, although average 

demand deposits declined slightly. Other current income, including 

various fees, commissions, rents, and income from trust departments, 

increased by almost one-tenth during 1957. Recoveries, profits on assets 

sold, and transfers from valuation reserves, which fluctuate considerably

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

C h art J . A verage R a tes o f Income R eceived by Insured Banks in th e

U nited S ta tes (C o n tin en ta l U. S. and O th er A reas), 1948-1957

Table 25. Sources and D isposition o f T o t a l Income,

Insured Com m ercial Banks in th e U nited S ta tes

(C o n tin en ta l U. S. and O th er A reas), 1948 and 1953-1957

Income

Amounts (in millions) Percent of total

1957 1956 1955 1954 1953 1948 1957 1953 1948

Total in com e........ $8,249 $7,482 $6,617 $6,405 $5,636 $3,670 100.0% 100.0% 100.0%

Sources

Loans................... 4,964 4,413 3,697 3,263 3,156 1,600 60.2 56.0 43.6

U. S. Government

obligations.......

Other securities

1,442 1,343 1,334 1,273 1,207 1,008 17.5 21.4 27.5

413 370 351 325 298 190 5.0 5.3 5.2

Service charges on 

deposits............ 441 386 340 312 271 174 5.3 4.8 4.7

Other current income................. 791 720 656 601 552 432 9.6 9.8 11.8

Recoveries, etc.1___ 198 250 240 631 152 266 2.4 2.7 7.2

Disposition

Salaries and wages.. 2,268 2,093 1,896 1,762 1,652 1,044 27.5 29.3 28.5

Interest on deposits. 1,142 806 678 618 535 317 13.9 9.5 8.6

Other current expenses .................. 1,710 1,558 1,386 1,258 1,189 802 20.7 21.1 21.9

Charge-offs, etc.2. .. 757 994 707 553 448 486 9.2 8.0 13.2

Income taxes.......... 998 815 794 907 786 275 12.1 13.9 7.5

Dividends to stockholders* ............ 678 617 566 517 474 332 8.2 8.4 9.0

Additions to capital 

accounts........... 696 600 590 790 552 414 8.4 9.8 11.3

1 Recoveries from assets previously charged off except those credited to valuation reserve accounts, 

profits on assets sold, and transfers from valuation reserve accounts.

a Losses and other charge-offs except those charged to valuation reserve accounts, and transfers 

to valuation reserve accounts.

* Includes interest on capital notes and debentures.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED BANKS 41

from year to year, were one-fifth lower in 1957 than in 1956. The amounts 

of income received from various sources in 1948 and in each of the years 

from 1953 to 1957 are shown in Table 25.

Disposition of income of insured commercial banks. Approximately three-fifths of the total income of insured commercial banks is 

required to meet current operating expenses. Chart K shows that in 

each Federal Deposit Insurance Corporation district the shares of total 

income used for current operating expenses and income taxes were higher 

in 1957 than in 1948, while losses, charge-offs, and transfers to reserve 

accounts, as well as income available for dividends or additions to capital, 

were relatively smaller.

The ratio of total current operating expenses to total deposits increased 

in each of the years from 1948 to 1957, as shown in Table 26. This was 

true also of the major component of expenses, salaries and wages, along 

with the ratio of interest paid to the amount of time and savings deposits.

Table 26. E x p e n s e R a t io s a n d I n t e r e s t P a id o n D e p o s its , 

I n s u r e d B a n k s, 1948-1957

Year

Insured commercial banks Insured mutual savings banks

Total 

current 

operating 

expenses 

to total 

deposits1

Salaries 

and wages 

to total 

deposits

Interest 

on time 

and 

savings 

deposits

Total 

current 

operating 

expenses 

to total 

deposits1

Salaries 

and wages 

to total 

deposits

Dividends 

and interest 

on time 

and 

savings 

deposits

1957.................. 2.64% 1.17% 2.08% 0.77% 0.36% 2.95%

1956................. 2.33 1.10 1.58 .76 .36 2.75

1955................... 2.14 1.03 1.38 .77 .36 2.61

1954.................... 2.06 1.00 1.32 .78 .36 2.37

1953................... 1.98 .97 1.24 .79 .37 2.35

1952................... 1.84 .91 1.15 .87 .37 2.27

1951................... 1.74 .87 1.03 .88 .37 1.88

1950................... 1.67 .82 .94 .82 .39 1.84

1949.................... 1.63 .79 .91 .79 .39 1.79

1948................... 1.55 .75 .90 .80 .39 1.57

1 For insured commercial banks includes interest on time and savings deposits; for insured mutual 

savings banks excludes dividends on time and savings deposits and includes amounts reported for 1951- 

1957 as “ non-recurring expenses” . Because of changes in 1951 in the method of reporting by insured 

mutual savings banks, data for 1951-1957 are not strictly comparable with those for previous years 

nor with those for insured commercial banks.

Sources and disposition of income of insured mutual savings

banks. Sources and disposition of total income for insured mutual savings 

banks, in 1948 and each year from 1953 to 1957, are shown in Table 27. 

A comparison of this table with that for insured commercial banks given 

previously reveals some marked differences.

In 1957 insured mutual savings banks received more than two-thirds 

of their income from loans, while interest and dividends on securities 

provided approximately one-fourth their income. Ten years earlier, when 

fewer mortgage loans were available and United States Government

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

C h a rt K . P e r c e n t a g e D is t r ib u t io n o f t h e D is p o s it io n o f 

T o t a l In com e, I n s u r e d C o m m e r cia l B a n k s in t h e U n ite d S t a t e s 

(C o n t in e n t a l U. S. a n d O t h e r A r e a s ), b y F e d e r a l D e p o s it I n s u r a n c e 

C o r p o r a t io n D i s t r ic t , 1948 a n d 1957

1948

40% 100%

UNITED

STATES

DISTRICT

I

UNITED

STATES

DISTRICT

I

NET ADDITION TO CAPITAL 

FROM PROFITS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED BANKS 43

T ab le 27. Sources and D isposition o f T o t a l Income,

Insured M u tu a l Savings Banks in th e U nited S ta tes

(C o n tin en ta l U. S. and O th er A reas), 1948 and 1953-19571

Item

Amounts (in millions) Percent of total

1957 1956 1955 1954 1953 1948 1957 1953 1948

Total income............ $1,074 $947 $846 $781 $684 $463 100.0% 100.0% 100.0%

Sources

Loans....................... 731 632 536 454 387 169 68.1 56.5 36.5

U. S. Government 

obligations........... 147 147 151 156 165 184 13.7 24.1 39.7

Other securities. . . . 127 103 99 96 82 36 11.8 12.0 7.8

Other current income2 ................... 34 28 28 28 26 14 3.1 3.8 3.0

Recoveries, etc.3---- 35 38 33 47 25 60 3.3 3.6 13.0

Disposition

Salaries and wages. . 87 80 75 71 65 48 8.1 9.5 10.4

Dividends and interest on deposits. 716 609 536 466 415 196 66.7 60.7 42.3

Other current expenses2 ................. 101 89 83 83 74 52 9.4 10.8 11.2

Charge-offs, etc.4. . . 71 61 56 51 58 77 6.6 8.5 16.6

Income taxes5.......... 9 9 9 11 9 5 .8 1.3 1.1

Additions to capital 

accounts.............. 90 98 87 99 63 85 8.4 9.2 18.4

1 Because of changes in 1951 in the method of reporting, data for subsequent years are not strictly 

comparable with those for 1948 nor with those for commercial banks.

2 Except for 1948, includes amounts classified as “ nonrecurring” income or expenses.

3 Recoveries from assets previously charged off except those credited to valuation reserve accounts, 

profits on assets sold, and transfers from valuation reserve accounts.

4 Losses and other items charged off except those charged to valuation reserve accounts, and transfers 

to valuation reserve accounts.

5 Includes franchise taxes computed on an income basis.

Note: Due to rounding differences, components may not add precisely to the indicated totals.

obligations were purchased in large quantities, less than two-fifths of the 

income of these banks came from loans, and almost one-half from 

securities.

The total income of insured mutual savings banks in 1957 was more 

than double the amount in 1948. Most of this gain was due to the increase 

in total assets and to a shift from obligations of the United States Government to loans and other securities which yield higher rates of return. 

Average rates of income on various types of assets of insured mutual 

savings banks in the years from 1948 to 1957 are shown in Chart J above.

Insured mutual savings banks in 1957 distributed two-thirds of their 

total income as dividends and interest on deposits. Salaries and wages 

required less than one-tenth of the total, and income taxes less than 

1 percent. The ratios of total current operating expenses and of salaries 

and wages to total deposits of insured mutual savings banks are shown 

in Table 26 above. The table also shows that the ratios of dividends and 

interest to time and savings deposits has risen in each of the years from

1948 to 1957.

Reserves of insured commercial banks for losses on loans and

securities. In 1957 losses and charge-offs of loans by insured commercial

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

banks exceeded recoveries; a large portion of this was charged to reserves 

and the rest directly to income. Losses and charge-offs on securities exceeded recoveries and profits. The amount charged to reserves was approximately one-half that charged directly to income.

In 1957 the reserves established for losses on loans by insured commercial banks continued to increase both in amount and in relation to 

the volume of loans outstanding, while reserves for losses on securities 

declined in amount and as a ratio of securities held. Reserves amounted 

to 1.86 percent of loans outstanding at the end of 1957, compared with 

a ratio of 1.70 percent at the close of 1956; and the ratio of reserves to 

securities held declined from 0.28 percent to 0.27 percent in 1957.

Profits of insured commercial banks in 1957 and prior years.

The net profits after income taxes of insured commercial banks were 13 

percent greater in 1957 than in 1956. The increase resulted from higher 

net current operating earnings and a lower amount of losses, charge-offs, 

and transfers to reserve accounts.

Selected operating ratios of insured commercial banks for each year 

from 1948 to 1957 are shown in Table 28. In 1957 current operating 

expenses increased more rapidly than current operating earnings, bringing 

the ratio of expenses to earnings to the highest level in the 10-year period. 

Average service charges on demand deposits have almost doubled since

1948. The ratio of net current operating earnings to total assets has risen 

steadily throughout the period from 1948 to 1957, but the ratio of profits 

before income taxes to assets has fluctuated because of variations in 

losses and recoveries. The 1957 ratio of profits after taxes to total capital 

accounts was exceeded in only two years of the 10-year period. In 1957, 

as in each year within the period except 1956, a larger portion of profits 

was retained than was distributed as dividends.

T ab le 28. Selected Operating R atios of I nsured C ommercial Ba nks

in the U nited States (Co ntinental U. S. and Other A reas), 1948-19571

Year

Current

operating

expenses

to

current

earnings

Average

service

charges

on

demand

deposits

Net 

current 

operating 

earnings 

to total 

assets

Profits 

before 

income 

taxes 

to total 

assets

Profits 

after 

income 

taxes 

to total 

capital 

accounts

Dividends 

to total 

capital 

accounts

Retained 

profits 

to total 

capital 

accounts

1957........................ 63.59% 0.32% 1.36% 1.10% 8.30% 4.10% 4.20%

1956........................ 61.63 .28 1.32 .97 7.82 3.96 3.86

1955........................ 62.09 .25 1.19 .96 7.90 3.87 4.03

1954........................ 63.01 .24 1.10 1.15 9.50 3.76 5.74

1953........................ 61.55 .21 1.14 .98 7.93 3.66 4.27

1952........................ 61.41 .20 1.06 .94 8.07 3.60 4.47

1951........................ 61.46 .20 1.00 .87 7.82 3.61 4.21

1950........................ 62.19 .19 .93 .86 8.51 3.55 4.96

1949........................ 63.32 .19 .87 .76 7.98 3.40 4.58

1948........................ 63.57 .17 .82 .68 7.49 3.33 4.16

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED BANKS 45

Selected operating ratios in 1957 for insured commercial banks in 

different size groups are shown in Table 29. Banks in the three size groups 

having deposits in excess of $50 million had the lowest ratios of current 

operating expenses to current earnings, paid the highest average interest 

on time and savings deposits, and paid the highest rates of dividends. 

The highest average service charges on demand deposits were by banks 

in the three size groups having between $5 million and $50 million in 

deposits. Banks in the two smallest and the two largest size groups had 

higher ratios of profits before taxes to total assets than did other banks. 

The ratio of profits after taxes to total capital accounts was lowest for 

banks with less than $1 million in deposits, and highest for banks in the 

two groups having deposits greater than $100 million.

T ab le 29. Selected Operating R atios of I nsured C ommercial B anks

Operating T hroughout the Y ear 1957 in the U nited States

(C ontinental U. S. and Other A reas),

banks grouped according to am ount of deposits

Size group

Current

operating

expenses

to

current

earnings

Average 

interest 

paid on 

time and 

savings 

deposits

Average

service

charges

on

demand

deposits

Profits 

before 

income 

taxes 

to total 

assets

Profits 

after 

income 

taxes 

to total 

capital 

accounts

Dividends 

to total 

capital 

accounts

All banks1................................ 63.54% 1.97% 0.31% 1.06% 8.01% 3.94%

Banks with deposits of—

Less than $1,000,000............. 68.79 1.78 .28 1.06 6.94 2.49

$1,000,000 to $2,000,000___ 67.63 1.79 .30 1.05 7.75 2.65

$2,000,000 to $5,000,000___ 68.25 1.82 .36 .95 7.84 2.84

$5,000,000 to $10,000,000. . . 68.59 1.83 .46 .90 7.74 2.98

$10,000,000 to $25,000,000. . 69.34 1.83 .51 .90 7.86 3.02

$25,000,000 to $50,000,000. . 69.48 1.89 .46 .86 7.47 3.22

$50,000,000 to $100,000,000. 67.01 1.91 .35 .93 7.75 3.52

$100,000,000 to $500,000,000 63.81 2.00 .27 1.09 8.32 4.08

$500,000,000 or more............ 57.24 2.17 .21 1.22 8.16 4.84

1 Basic data differ from those used in preparing Table 28 in that asset and liability items are as 

of December 31, 1957, and banks which operated only part of the year are not included here.

Changes in reserves and additions to surplus by insured mutual

savings banks. The reserves of insured mutual savings banks for losses 

on loans and on securities both increased in amount in 1957, but declined 

as percentages of loans and securities held. At the end of the year the 

reserve for loans was 1.14 percent of outstanding loans, and the reserve 

for securities 1.24 percent of securities owned.

Although total income of insured mutual savings banks more than 

doubled between 1948 and 1957, additions to surplus accounts were only 

4 percent greater, and were undoubtedly smaller than in 1956.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART THREE

ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
A ctuarial D a t a R e l evan t to D eposit I nsurance

During the hearings on the Financial Institutions Act, early in 1957, the Subcommittee of the Senate Committee on Banking and Currency requested an analysis 

of data pertinent to the question of the adequate size of the deposit insurance fund 

of the Federal Deposit Insurance Corporation. This question has been the subject of 

continuing study throughout the life of the Corporation and some pertinent data, with 

comments relative thereto, have appeared in our Annual Reports from time to time; 

however, not all of the material collected had previously been published. It is believed 

that the data and conclusions contained in the analysis prepared by the staff of the 

Division of Research and Statistics are of sufficient importance to warrant republication. Except for a few editorial changes, the study is reprinted here in substantially 

the same form as it was given on February 14, 1957, to the Subcommittee of the 

Senate Committee on Banking and Currency.

J e sse P. W olco tt, Chairman

This study is designed to summarize the actuarial data regarding 

deposit insurance that have been accumulated by the Federal Deposit 

Insurance Corporation, and also to bring into clear view several considerations that should be kept in mind in connection with any proposal 

to reduce, even for a limited period of time, the assessment income of 

the Corporation. The study begins with a statement of these considerations, then examines data which throw light on the risks of the Corporation from insuring deposits and therefore on the needed assessment 

income and size of the deposit insurance fund.

C onsiderations for A ppraising the F unds

N eeded for D eposit Insurance

Contingencies the Corporation should be prepared to meet.

Any appraisal of the adequacy of the deposit insurance fund of the 

Federal Deposit Insurance Corporation must begin by defining the 

contingencies which the Corporation should be prepared to meet. Clearly, 

the fund must be adequate to handle individual bank failures which may 

result from circumstances peculiar to the bank or to its immediate 

locality. Beyond this, the fund must be sufficient to make the necessary 

disbursements because of bank failures resulting from a serious local or 

regional economic decline or generally depressed business conditions of 

lesser magnitude than the calamitous situation of the early 1930’s.

Whether or not the deposit insurance fund should be continuously 

maintained at a level which would be needed during a deep and prolonged depression such as that of the early 1930’s is a question which 

is often raised. Although later in this study an appraisal is made of the 

present adequacy of the fund in the light of such a contingency, it would

49

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

be impracticable to attempt to make a judgment as to the present needed 

size of the deposit insurance fund on the basis of such a catastrophic 

emergency. If an economic situation similar to that of the early 1930’s 

should recur it is unlikely that the burden of sustaining the deposits in 

the Nation’s banking system would fall solely on the Corporation, so 

that the adequacy of the deposit insurance fund in such a situation would 

have to be considered in connection with actions taken by other monetary 

agencies. Such an analysis is beyond the scope of this study.

Function o f the deposit insurance fund. Another important preliminary to an appraisal of the adequacy of the deposit insurance fund is 

to define the function of the fund. Some discussions of the size of fund 

needed have begun with an assumption, expressed or implied, that the 

fund will be adequate if it is sufficient to absorb losses sustained by the 

Corporation in its insurance operations. This assumption is erroneous. 

The Federal Deposit Insurance Corporation was established to protect 

the depositors of failing participating banks, and to fulfill this duty the 

deposit insurance fund must be maintained at a level that will make 

possible the accomplishment of that objective, whether or not there 

are ultimate losses. Because the function of the deposit insurance fund 

is so frequently misunderstood the following statement is proposed as 

properly defining the function of the fund and of the assured borrowing 

power.

The function of the deposit insurance fund is to serve as a reserve out of which 

disbursements can be made to protect depositors of distressed insured banks. Such 

disbursements may be in the form of direct payments (up to the insurance maximum) 

to individual depositors in banks placed in receivership, or to distressed banks to 

facilitate the assumption of their deposit liabilities by sound insured banks, or as 

subordinated deposits in distressed insured banks.

For each disbursement the Corporation acquires assets which it must hold for a 

time: claims against the receiver of the failed bank, or assets of the bank, or a subordinated deposit. Losses that occur are absorbed by the fund but neither the absorption of loss nor the holding of assets during the liquidation process is an independent 

or separate function; each is a part of the fund’s function of providing disbursements 

needed to protect depositors.

The assured borrowing power now held by the Corporation is a resource to be used 

only in unusual circumstances. It is not the purpose of the borrowing power to provide 

the means of making disbursements except in the contingency that the deposit insurance fund becomes inadequate for this purpose.

Relation of insurance losses and disbursements to the size o f 

the fund and the assessment rate. In view of the function of the 

deposit insurance fund, it is irrelevant to use statistics which purport 

to show that the present fund is adequate or too large because realized 

losses by the Corporation since 1933 have been very small. The fund, 

of course, may be as large as is necessary, but this cannot be demonstrated 

on the basis of the loss experience, because even if there had been no

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 51

loss, and even if future losses are expected to be very small, the fund 

still must be available to provide disbursements to protect depositors 

in distressed banks. However, the losses experienced by the Corporation, 

and those that might occur from other contingencies it should be prepared 

to meet, are pertinent to the assessment rate necessary to maintain the 

fund once it has attained an estimated requisite size.

The question of the appropriate size of the deposit insurance fund is 

directly related to disbursements which may be necessary to protect 

depositors of distressed banks. In this connection it should be remembered 

that disbursements by the Corporation are accompanied by claims 

against a receivership or by assets acquired from the distressed banks, 

which claims or assets may have to be held for considerable periods of 

time. Thus the adequacy of the fund depends both upon its size in relation 

to any anticipated disbursement and upon the quality of assets acquired 

from previous transactions, i.e., upon the degree and speed with which 

such assets can be converted into cash to provide funds for further 

disbursements. Ability to convert other assets in the fund into cash is 

also pertinent, but it may be assumed that the portion of the fund invested in United States Government obligations can at any time be 

turned into cash.

The Corporation has had little or no experience with some of the 

contingencies it should be prepared to meet. Consequently, in scrutinizing 

the record of the past for light on the actuarial basis of deposit insurance 

it is important to pay attention not simply to the Corporation's experience, but also to the Nation’s experience with bank failures prior 

to 1934. This is particularly necessary as an aid in judging the probable 

magnitude of insurance disbursements in such a contingency as a prolonged depression in a particular industry or area. It is also well to look 

at the magnitude of disbursements that might have to be made in the 

event of another wave of bank failures accompanying a very deep depression, even though it is not assumed that the Corporation should be 

continuously endowed with sufficient resources to handle such a situation.

Factors o f improvement and deterioration in the exposure of 

banks to insolvency. In addition to using both the experience of the 

Corporation since 1934 and the experience of the Nation with bank 

failures prior to that time, attention must be given to elements of improvement and of deterioration in the status of banks from the point 

of view of their exposure to insolvency. Proponents of the assertion that 

the present fund is large enough to justify a reduction in the assessment 

rate stress the elements of improvement in the banking system since 

1934, particularly the present high quality of bank assets, better bank 

supervision, and elimination of the “ overbanked” situation of the two 

decades prior to the 1933 depression. But there are also elements of

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

deterioration in the banking situation, particularly in the reduction in 

bank capital relative to assets.

It should not be assumed that the improvement since 1933 in the 

banking system and in supervisory practices has overcome the deterioration of the capital position of the banks to such an extent as to rule out 

the possibility of numerous bank failures accompanying a business 

recession. If that assumption is seriously taken, it should be accompanied by more evidence than has been set forth. So long as banks remain 

institutions with liabilities for the most part redeemable on demand and 

assets for the most part not immediately convertible into cash there 

will be a danger of serious bank failures as a consequence of deteriorating 

economic conditions. We do not know of any analysis that has been made 

which shows how the nature of the economy or the fundamental nature 

of banking has so changed to rule out this possibility.

Concentration of risk. Concentration of risk is recognized by insurance experts as an important element in the size of the reserve fund 

that is needed in an insurance system. For example, one might have 

serious reservations about the actuarial soundness of a fire-insurance 

company that agreed to insure for its full value a building worth considerably more than all of the company’s reserves.

One obvious aspect of concentration of risk to the Federal Deposit 

Insurance Corporation is that relating to size of bank. Previous experience with bank-obligation insurance suggests that this kind of concentration of risk is an element of importance. In several of the State 

systems operated prior to 1933 failure rates among the larger banks 

were higher than among smaller banks. Thus far the opposite has been 

true under Federal deposit insurance, as it also was in certain of the 

State systems prior to 1933, but there is no assurance that this will 

continue to be the case.

There is another kind of concentration of risk to which attention 

should be given. There are some insured banks in each of which the 

capital of the bank appears to be uncomfortably low. The risk which 

this entails for bank solvency in each case is real and apparent; and 

though supervisory officials attempt to have such situations corrected 

the continued presence of banks with very low capital ratios year after 

year indicates that this is more than a temporary problem.

A ctuarial D a t a R e l evan t to the F unds N eeded b y

the C orporation as a n I nsurer of Ba n k D eposits

There is a certain degree of risk which attaches at all times to the 

insurance of bank deposits. In ordinary years the actual liability which 

results from this risk is fairly small and well within the assessment income

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 53

of the Corporation. But if deposit insurance is to serve its purpose, the 

deposit insurance fund of the Corporation must be sufficient to guard 

not only against this type of risk but also against the possibility that 

on some occasions disbursements may be required which will far exceed 

the assessment income for the given year.

No one can translate this serious risk into a precise determination of 

the needed size of the deposit insurance fund, but an analysis of the 

available data throws considerable light on this crucial question. This 

analysis is presented under the following subjects: (1) the relative size 

of the deposit insurance fund; (2) the Corporation’s disbursement and 

loss experience; (3) other data relevant to the significance of the Corporation’s experience; (4) the distribution of the Corporation’s potential 

insurance liability; (5) the probable needed insurance fund in the event 

of a wave of bank failures accompanying a deep depression; and (6) the 

probable needed fund in the event of misfortune other than a deep 

depression.

Relative size of the deposit insurance fund. That the size of the 

deposit insurance fund should bear some relationship to the amount of 

deposits in insured banks is apparent, although there may be many 

opinions as to how large a reserve fund is needed by the Corporation. 

A first step, therefore, in an actuarial study of deposit insurance is to 

look at the relative size of the deposit insurance fund since its beginning, 

and to determine what effect the present assessment provisions have on 

its relative size.

The ratios of the deposit insurance fund to insured deposits and to 

total deposits at each year-end date are shown in Table 30. At the end 

of 1956 the deposit insurance fund was 0.80 percent of total deposits 

in insured banks and 1.45 percent of the estimated amount of insured 

deposits. These ratios are below those which prevailed in 1934, the first 

year of the Corporation’s operation. The ratios at the end of that year 

were 0.83 percent and 1.84 percent, respectively.

In 1935 the ratios of the deposit insurance fund to total and to insured 

deposits declined because of the refunding to the banks, when the permanent insurance plan went into effect, of the assessments that insured 

banks had made under the temporary plan. During the next few years 

the ratios tended to rise. During the war years the ratios fell sharply as 

deposits increased rapidly, losing more than their prewar gain. With 

the cessation of deposit growth at the close of the war, the ratios again 

tended to rise. However, this upward trend was interrupted in 1947 and 

1948 by repayment of the Corporation’s original capital, and again in 

1950 and 1951 by payment of interest on the retired capital. Also, the 

provision for net assessment income credits to insured banks in the 1950 

law sharply reduced the tendency for the ratios to rise. At the end of

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

T ab le 30. D e p o s its in I n s u r e d B a n k s an d 

t h e D e p o s it I n s u r a n c e F u n d , 1934-1956

(Amounts in millions)

Dec.

31

Deposits in insured banks Deposit insurance fund

Total

deposits

Insured

deposits1

Percent of 

deposits 

insured

Amount of 

fund

Ratio of deposit 

insurance fund to—

Total

deposits

Insured

deposits

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

1935................... 45,125 20,158 44.7 306.0 .68 1.52

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

1956 2................. 218,000 120,000 55.0 1,742.1 .80 1.45

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

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

2 All figures for December 31, 1956, except the amount of the deposit insurance fund, are estimated.

1951, after the Corporation had completed the payment of interest on 

its capital, the fund amounted to 0.72 percent of total deposits in insured 

banks and 1.33 percent of the estimated insured deposits. Since that 

time, the fund has grown somewhat more rapidly than bank deposits. 

Specifically, during the years 1952-1956, the average annual rate of 

increase of the fund was 6.3 percent, while the annual rate of growth 

of total deposits was 4.1 percent and that of insured deposits about 

4.4 percent.

Maintenance of an appropriate rate of growth in the Nation’s circulating medium, or money supply, of which bank deposits are now the 

predominant portion, is widely recognized as an important element in 

the economic policies of the Nation. The need for such growth was 

described by a congressional commission eighty years ago:

“It is in a volume of money keeping even pace with advancing population and 

commerce, and in the resulting steadiness of prices, that the wholesome nutriment of a 

healthy vitality is to be found. The highest moral, intellectual, and material development of nations is promoted by the use of money unchanging in its value. That kind 

of money, instead of being the oppressor, is one of the great instrumentalities of

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL BATA RELEVANT TO DEPOSIT INSURANCE 55

commerce and industry . . . It is only under steady prices that the production of wealth 

can reach its permanent maximum, and that its equitable distribution is possible.” 1

Judged both from the experience of recent years and from the record 

of the nation for more than a century, an average rate of growth of bank 

deposits of about 4 percent per year is normal. We should anticipate 

the continuance of deposit growth at this rate.

A projection of the income of the Federal Deposit Insurance Corporation over the next 23 years is shown in Table 31 and of its deposit 

insurance fund in Table 32. These projections assume a deposit growth 

of 4 percent per year, and annual losses and operating expenses of the 

Corporation the same relative to assessments as the average of the annual rates during the time of the Corporation’s operation. They show 

the income of the Corporation and the size of the fund under the present 

assessment provisions, and also the effect of crediting the entire net 

assessment income to the insured banks.

Unless the deposit insurance fund continues to grow by at least the 

same rate as deposits the size of the fund relative to total or to insured 

deposits will decline. The investment income of the Corporation is not 

sufficient, by itself, to provide a rate of growth for the deposit insurance 

fund that will keep pace with the anticipated growth in bank deposits. 

Thus, any proposal to return the entire net assessment income to the 

banks is, in effect, a proposal to initiate a continuing decline of the 

deposit insurance fund, relative to total or to insured deposits. Under 

such a plan the ratio of the fund to total deposits will decline to 0.7 

percent in nine years, and to 0.6 percent in twenty years, assuming a 

normal rate of growth in total deposits. A proposal to return the entire 

assessment income to the banks must therefore rest on the assumption 

that the present deposit insurance fund is larger, relative to deposits, 

than is needed by the Corporation to meet contingencies for which it 

should be prepared.

The Corporation’s disbursement and loss experience. From the 

beginning of 1934 to the end of 1956, the Federal Deposit Insurance 

Corporation has paid off the insured deposits, or provided sufficient funds 

to enable the assumption by another bank of all the deposits, of 431 

insured banks. In doing so, it has made disbursements of approximately 

$340 million, of which $292 million were paid directly to depositors or 

expended to enable the assumption of their deposits by other banks, 

and $48 million consisted of payoff and liquidation expenses and advances 

for the protection of assets. During the same period the Corporation 

was able to build up an insurance fund from assessments and investment

1 Report of the United States Monetary Commission, Senate Report No. 703, 44th Congress, 2d Session, 

1877, pp. 51-52. The Commission was composed of three Senators, three Representatives, an ex-Congressman, and a university professor.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

T ab le 31. P r o j e c t e d In co m e o f t h e F e d e r a l D e p o s it 

I n s u r a n c e C o r p o r a t io n , 1957-1980

(Amounts in thousands)

Year

Assessments 

becoming 

due 1

Expenses 

and 

losses 8

Net 

assessment 

income retained under 

1950 law»

Investment 

income 

under 1950 

law *

Total income of FDIC

Under 1950 

law

With entire 

net assessment income 

credited to 

insured 

banks 6

1957.................... $161,598 $14,544 $ 58,822 $ 43,551 $102,373 $43,551

1958................... 168,062 15,126 61,174 46,111 107,285 44,641

1959................... 174,784 15,731 63,621 48,793 112,414 45,757

1960................... 181,775 16,360 66,166 51,604 117,770 46,901

1961................... 189,046 17,014 68,813 54,548 123,361 48,073

1962................... 196,608 17,695 71,565 57,632 129,197 49,275

1963................... 204,472 18,402 74,428 60,862 135,290 50,507

1964................... 212,651 19,139 77,405 64,244 141,649 51,770

1965................... 221,157 19,904 80,501 67,785 148,286 53,064

1966................... 230,003 20,700 83,721 71,493 155,214 54,390

1967................... 239,203 21,528 87,070 75,373 162,443 55,750

1968................... 248,771 22,389 90,553 79,434 169,987 57,144

1969................... 258,722 23,285 94,175 83,684 177,859 58,573

1970................... 269,071 24,216 97,942 88,130 186,072 60,037

1971................... 279,834 25,185 101,860 92,782 194,642 61,538

1972................... 291,027 26,192 105,934 97,648 203,582 63,076

1973................... 302,668 27,240 110,171 102,738 212,909 64,653

1974................... 314,775 28,330 114,578 108,060 222,638 66,269

1975................... 327,366 29,463 119,161 113,626 232,787 67,926

1976................... 340,461 30,641 123,928 119,446 243,374 69,624

1977................... 354,079 31,867 128,885 125,530 254,415 71,365

1978................... 368,242 33,142 134,040 131,891 265,931 73,149

1979.................... 382,972 34,467 139,402 138,539 277,941 74,978

1980................... 398,291 35,846 144,978 145,487 290,465 76,852

1 At 4 percent increase over the preceding year.

2 At 9 percent of assessments becoming due, the average of the annual percentages during 1934-1956 

(with assessments under the temporary plan in 1934-1935 assumed to have been at the rate under the 

permanent plan).

* 40 percent of net assessment income, which is defined as assessments becoming due less expenses 

and losses.

4 At 2.5 percent of deposit insurance fund on preceding December 31, which is the approximate 

average rate received by the Corporation during 1934-1956.

6 Investment income only, at 2.5 percent of deposit insurance fund on preceding December 31.

income of $1,742 million, having had to absorb losses amounting to only 

$30 million. Taken as a whole, this experience is cited frequently as 

evidence that the present deposit insurance fund is adequate and that 

a reduction in the deposit insurance assessment is desirable. To determine 

whether such a conclusion is borne out by the data requires a more detailed 

analysis.

Disbursements for the protection of depositors have been made by 

the Federal Deposit Insurance Corporation in each calendar year beginning with 1934. The amount of disbursements, including payoff and 

liquidation expenses and advances for protection of assets ranged from 

a high of $91 million in the case of banks closed in 1940 to a low of $276,000 

for banks closed in 1946. In several years these disbursements were a 

sizeable proportion of assessment income. In each of two years, 1939 

and 1940, the disbursements were not only far in excess of income from 

assessments but also exceeded all Corporation income.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 57

T ab le 32, P r o j e c t e d D e p o s it I n s u r a n c e F u n d , 

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 , 1957-1980

(Amounts in millions)

Dec.

31

Deposits in 

insured banks 

(»)

Deposit insurance fund 2 Ratio of fund to deposits 

in insured banks

Under 1950 

law

With entire 

net 

assessment 

income 

credited 

to insured 

banks

Under 1950 

law

With entire 

net 

assessment 

income 

credited 

to insured 

banks

1957......................... $226,720 $1,844 $1,786 .81% .79%

1958......................... 235,789 1,952 1,830 .83 .78

1959......................... 245,220 2,064 1,876 .84 .77

1960......................... 255,029 2,182 1,923 .86 .75

1961......................... 265,230 2,305 1,971 .87 .74

1962......................... 275,840 2,434 2,020 .88 .73

1963......................... 286,873 2,570 2,071 .90 .72

1964......................... 298,348 2,711 2,123 .91 .71

1965......................... 310,282 2,860 2,176 .92 .70

1966......................... 322,693 3,015 2,230 .93 .69

1967......................... 335,601 3,177 2,286 .95 .68

1968......................... 349,025 3,347 2,343 .96 .67

1969......................... 362,986 3,525 2,401 .97 .66

1970......................... 377,505 3,711 2,462 .98 .65

1971......................... 392,606 3,906 2,523 .99 .64

1972......................... 408,310 4,110 2,586 1.01 .63

1973......................... 424,642 4,322 2,651 1.02 .62

1974......................... 441,628 4,545 2,717 1.03 .62

1975......................... 459,293 4,778 2,785 1.04 .61

1976......................... 477,665 5,021 2,855 1.05 .60

1977......................... 496,771 5,276 2,926 1.06 .59

1978......................... 516,642 5,542 2,999 1.07 .58

1979......................... 537,308 5,819 3,074 1.08 .57

1980......................... 558,800 6,110 3,151 1.09 .56

1 At 4 percent increase over the preceding year, with deposits at the end of 1956 estimated at 

$218,000 million.

2 Deposit insurance fund on December 31, 1956, of $1,742,077 thousand, increased each year by 

addition of net income of the Corporation (see Table 2).

Disbursements, as indicated in the first part of this study, result in 

the acquisition of assets (including claims against receivers) by the Corporation. The amount of such assets held on any particular date may 

reasonably be considered as representing that part of the deposit insurance fund in use. Table 33 provides data showing, at each year-end 

date, the size of the deposit insurance fund, the Corporation's reserve 

for losses, and the volume of assets held by the Corporation that had 

been acquired as a consequence of insurance disbursements.

Reference to this table will show that the assets resulting from insurance disbursements held by the Corporation increased rapidly during 

the prewar period, after which the volume declined until 1952, and has 

tended to rise again in recent years. The peak amount was in June 1940, 

when the Corporation held about $147 million of such assets. This was 

equal to 29 percent of the deposit insurance fund plus the reserve for 

losses on that date. The amount of these assets in excess of the Corporation's reserve for losses was 22 percent of the deposit insurance fund.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 33. D e p o s it I n su r a n c e F und an d R e s e r v e fo r L o sses,

an d H o ld in g s o f A ssets A cq u ir e d in D e p o s it P a y o f f a n d

D e p o s it A s su m ptio n C a s e s, 1934-1956

(Amounts in thousands)

Deposit insurance fund 

and reserve for losses

Assets acquired in deposit payoff 

and deposit assumption cases

Dec.

31 Deposit

insurance

fund

Reserve Amount

held

Percent 

of fund

Amount 

held in Percent of

Total for

losses1

and 

reserve 

for losses

excess of 

reserve 

for 

losses

deposit

insurance

fund

1934.......... $333,393 $333,006 $387 $861 .26% $474 .14%

1935.......... 309,984 306,057 3,927 9,345 3.01 5,418 1.77

1936.......... 351,113 343,405 7,708 19,099 5.44 11,391 3.32

1937.......... 396,548 383,149 13,399 29,553 7.45 16,154 4.22

1938.......... 441,195 420,545 20,650 47,200 10.70 26,550 6.31

1939.......... 488,244 452,711 35,533 99,764 20.43 64,231 14.19

1940.......... 539,626 495,985 43,641 135,813 25.17 92,172 18.58

1941.......... 597,110 553,499 43,611 125,352 20.99 81,741

62,056

14.77

1942.......... 661,527 616,943 44,584 106,640 16.12 10.06

1943.......... 741,603 703,055 38,548 84,798 11.43 46,250 6.58

1944.......... 835,055 804,341 30,714 56,783 6.80 26,069 3.24

1945.......... 951,711 929,151 22,560 37,682 3.96 15,122 1.63

1946.......... 1,077,477

1,021,587

1,058,485 18,992 24,543 2.28 5,551 .52

1947.......... 1,006,090 15,497 19,076 1.87 3,579 .36

1948.......... 1,079,537 1,065,851 13,686 16,493 1.53 2,807 .26

1949.......... 1,217,558 1,203,943 13,615 15,686 1.29 2,071 .17

1950.......... 1,253,370 1,243,947 9,423 11,738 .94 2,315 .19

1951.......... 1,283,662 1,282,188 1,474 4,514 .35 3,040 .24

1952.......... 1,365,542 1,363,492 2,050 4,075 .30 2,025 .15

1953.......... 1,453,035 1,450,684 2,351 4,455 .31 2,104 .14

1954.......... 1,551,744 1,542,697 9,047 10,152 .65 1,105 .07

1955.......... 1,648,956 1,639,589 9,367 13,719 .83 4,352 .27

1956.......... 1,750,716 1,742,077 8,639 13,064 .75 4,425 .25

June 30,

19402........ 513,048 469,564 43,484 146,847 28.86 103,363 22.01

1 For 1948 and 1949 includes a special reserve for undetermined losses on assets acquired in deposit 

assumption cases.

2 Date of maximum holdings of assets acquired in deposit payoff and deposit assumption cases. 

Includes assets to be acquired in a deposit assumption transaction not completed for which the Corporation had made the necessary commitment of funds.

Table 34 shows the disbursements and losses of the Corporation each 

year. Comparison of this table with the preceding one shows how misleading are the loss data if only losses are compared with the deposit 

insurance fund in an attempt to appraise the adequacy of the fund. 

Perhaps the best illustration of this is, again, the year 1940. The final 

loss from disbursements made during that year was less than $4 million, 

or 0.8 percent of the fund in 1940. However, the fact that the loss eventually absorbed by the fund was so small can scarcely be considered a 

reflection of its adequacy in 1940, when it had to provide for disbursements of about $91 million, which with previous disbursements tied up 

22 percent of the fund after setting up reserves for losses.

Other data relevant to the significance of the Corporation’s

experience. An analysis of the 1934-1956 experience should not ignore 

Federal aid to banks by agencies other than the Federal Deposit InDigitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 59

T ab le 34. D is b u r s e m e n ts a n d L o s s e s o f t h e F e d e r a l D e p o s it 

I n s u r a n c e C o r p o r a t io n in D e p o s it P a y o f f a n d D e p o s it 

A ssu m p tion C a se s, 1934-1956

(Amounts in thousands)

Year of 

closing 

of bank

Disbursements 1

Losses 2

Deposit 

insurance 

fund June 

30

Ratio to deposit 

insurance fund at 

midyear

Total Principal8

Expenses 

and advances 4Disbursements Losses

1934-1956. $339,782 $292,235 $47,547 $29,685 S.17%* .28%«

1934.......... 985 941 44 251 $318,971 .31 .08

1935.......... 9,260 8,890 370 2,814 334,997 2.76 .84

1936.......... 15,782 14,781 1,001 2,526 323,782 4.87 .78

1937.......... 20,145 19,160 985 3,653 364,150 5.53 1.00

1938.......... 35,472 30,479 4,993 2,516 401,999 8.82 .63

1939.......... 85,531 67,770 17,761 7,315 424,482 20.15 1.72

1940.......... 91,437 74,134 17,303 3,963 469,564 19.47 .84

1941.......... 25,406 23,880 1,526 645 523,372 4.85 .12

1942.......... 11,939 10,825 1,114 727 583,887 2.04 .12

1943.......... 7,298 7,172 126 178 658,819 1.11 .03

1944.......... 1,549 1,503 46 49 752,284 .21 .01

1945.......... 1.865 1,768 97 868,469 .21

1946.......... 276 265 11 992,745 .03

1947.......... 2,003 1,724 279 74 1,133,687 .18 .01

1948.......... 3,188 2,990 198 640 1,007,417 .32 .06

1949.......... 2,717 2,552 165 369 1,134,213 .24 .03

1950.......... 4,414 3,986 428 1,390 1,277,076 .35 .11

1951.......... 2,002 1,885 117 10 1,243,839 .16 .001

1952.......... 1,547 1,369 178 820 1,322,485 .12 .06

1953.......... 5,333 5,017 316 1,406,628 .38

1954.......... 975 913 62 114 1,496,692 .07 .01

1955.......... 7,147 6,787 360 492 1,590,541 .45 .03

1956.......... 3,511 3,444 67 1,138 1,690,818 .21 .07

1 Disbursements are those pertaining to the banks that closed in each year. They do not exactly 

equal the disbursements made in each year because some portions of the disbursements may have been 

made in years subsequent to that in which the bank closed.

s Losses on principal in both deposit payoff and deposit assumption cases, plus payoff expenses in 

deposit payoff cases. Liquidation expenses and advances for asset protection have been fully recovered 

in the deposit assumption cases.

8 Deposits paid by FDIC in deposit payoff cases; principal of loan or of assets purchased in deposit 

assumption cases.

4 Payoff expenses in deposit payoff cases; liquidation expenses and advances for asset protection 

in deposit assumption cases.

* Average of the annual ratios.

Note: Data for recent years subject to adjustment.

surance Corporation. Such aid was given primarily by the Reconstruction 

Finance Corporation, the Home Owners Loan Corporation, and the 

Farm Credit Administration. These disbursements contributed significantly to restoring the strength of the banking system, and had these 

agencies not been in existence the Federal Deposit Insurance Corporation undoubtedly would have been called upon for a much larger expenditure of funds.

Together, these three agencies disbursed upwards of $2 billion to aid 

open or closed banks in the period beginning with 1934, which was 

several times the amount of disbursements by the Federal Deposit 

Insurance Corporation. Any projection of the banking record which 

purports to show how much the Corporation may have to disburse in

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

the future should take account of these disbursements by other agencies, 

since to the extent such disbursements are necessary again they will have 

to be made by the Federal Deposit Insurance Corporation.

Another important element of the experience since 1934, which has 

not been favorable, is the decline in the capital of insured banks relative 

to their assets. At the end of 1934 total capital accounts in insured commercial banks were 13 percent of all assets and 26 percent of so-called 

“ risk assets.” At the end of 1956 these ratios were approximately 7 

percent and 16 percent, respectively. This decline may not be quite so 

serious as it appears because of the fact that capital today is probably 

more sound than was the case in 1934 and the fact that reserves against 

losses, not included in capital accounts, are relatively greater now than 

20 years ago. Nevertheless, the very rapid increase in bank assets since 

1934 has definitely outpaced the rate of growth of bank capital, and 

thus the vulnerability of the banking system to adverse economic conditions has increased.

Another observation must be made about the experience since 1933. 

It is clear that some observers entertain the rather disquieting view that 

this period is unique in our history; that the United States has entered 

a new banking era in which the major difficulties of the past may be 

safely forgotten. While we are hopeful that this may indeed be the case, 

it must be remembered that there have been other periods in our history 

during which banking difficulties were small. As a matter of fact, quite 

early in our history there was a period of a quarter century during which 

there was not a single bank failure.

Another period during which the losses from bank failures were relatively light was from 1898 to 1920. During that period the average 

annual ratio of deposits in closed banks to the deposits of operating 

banks was less than one-third as high as during the preceding twentyfive years, and only one-seventh as large as in the subsequent decade 

and a half. Had a deposit insurance fund been operating during the 

1898-1920 period, with principal disbursements equal to one-half the 

deposits in failed banks (as in the case of the Federal Deposit Insurance 

Corporation during 1934-1956), such disbursements would have averaged 

one-tenth of 1 percent per year of the deposits in operating banks. While 

this disbursement rate relative to deposits in operating banks is substantially higher than in the case of the Federal Deposit Insurance 

Corporation, it is not much higher than the Corporation’s rate would 

have been had the disbursements to banks by the Reconstruction Finance 

Corporation and other agencies been made by the Federal Deposit 

Insurance Corporation.

Considered in its entirety and in the light of previous experience, 

the record since 1933 provides much less evidence than is often assumed

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 61

that the developments of recent years have greatly diminished the 

likelihood of a relatively large number of bank failures occurring in 

the future.

Distribution of the potential insurance liability. That the risk 

to the Corporation as an insurer of bank deposits is concentrated in a 

small number of banks is evident from the fact that approximately half 

of the deposits in the more than 13,000 insured banks are held by 100 

banks. On December 31, 1956, there were 11 insured banks each of 

which had total deposits exceeding the entire deposit insurance fund. 

Three of these banks held deposits which not only exceeded the fund, 

but also exceeded the fund and the $3 billion that the Corporation is 

authorized to borrow from the United States Treasury. It should probably 

not be assumed that in the event of difficulties in any one of these banks 

the disbursement by the Corporation would be equal to the total deposits, 

or even to the insured deposits. It is more reasonable to assume that 

if a very large insured bank were to become involved in serious financial 

difficulties an effort would be made to have its liabilities assumed by 

another insured bank, or to have the bank reorganized with the help of 

the Corporation. Apart from the administrative difficulties of direct 

payoff in such a case is the fact that the closing of a very large bank 

might result in the nearly simultaneous closing of many banks keeping 

their correspondent balances with the distressed bank.

Disbursements to date by the Corporation in the cases of banks which 

have been handled on other than a payoff basis have averaged 53 percent 

of total deposits. This includes principal disbursements, advances for 

asset protection, and liquidation expenses. If we assume, conservatively, 

that a disbursement in the case of an exceptionally large bank would be 

30 percent of its deposits, it is evident that there is still a considerable 

concentration of risk to the Federal Deposit Insurance Corporation. 

Under such circumstances there are three insured banks, the failure of 

any one of which would more than exhaust the deposit insurance fund. 

There are six other banks, the disbursement for any one of which would 

require from two-fifths to one-half of the deposit insurance fund; and 

there are still six other banks, for any one of which a disbursement equal 

to 30 percent of total deposits would require over one-fourth of the 

deposit insurance fund.

Table 35 shows the total deposits of the 25 largest insured banks at 

the end of 1956 and the disbursements which might be necessary, should 

any one of these banks become involved in serious financial difficulties. 

Revealing as these figures are, they do not reflect the fact that a very 

large commercial bank in serious financial difficulties may be a symptom 

(or a cause) of fundamental difficulties in the banking system which 

may result in other substantial disbursements by the Corporation.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
6 2 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 35. D epo s it s o f 25 I n su r e d B a n k s R e l a t iv e to

th e D e p o s it I n su r a n c e F u n d, D e c e m b e r 31, 1956

(Amounts in millions)

Size of the 25 

largest insured 

banks 1

FDIC disbursement in case of 

financial difficulties if 

amount needed is—2

Percentage of the deposit 

insurance fund that would 

be absorbed by such 

disbursement—*

Rank Deposits 50% of 

deposits

40% of 

deposits

30% of 

deposits At 50% At 40% At 30%

1.............. $8,993 $4,497 $3,597 $2,698 258% 207% 155%

2 .............. 6,928 3,464 2,771 2,078 199 159 119

3 .............. 6,672 3,336 2,669 2,002 192 153 115

4 .............. 2,845 1,423 1,138 854 82 65 49

5.............. 2,760 1,380 1,104 828 79 63 48

6 .............. 2,649 1,325 1,060 795 76 61 46

7 .............. 2,543 1,272 1,017 763 73 58 44

8 .............. 2,497 1,249 999 749 72 57 43

9 .............. 2,484 1,242 994 745 71 57 43

10.............. 2,338 1,169 935 701 67 54 40

11.............. 1,854 927 742 556 53 43 32

12.............. 1,736 868 694 521 50 40 30

13.............. 1,654 827 662 496 47 38 28

14.............. 1,539 770 616 462 44 35 27

15.............. 1,539 770 616 462 44 35 27

16.............. 1,477 739 591 443 42 34 25

17.............. 1,389 695 556 417 40 32 24

18.............. 1,369 685 548 411 39 31 24

19.............. 1,362 681 545 409 39 31 23

20.............. 1,026 513 410 308 29 24 18

21.............. 957 479 383 287 27 22 16

22.............. 951 476 380 285 27 22 16

23.............. 867 434 347 260 25 20 15

24.............. 863 432 345 259 25 20 15

25.............. 858 429 343 257 25 20 15

1 Includes 22 insured commercial banks and 3 insured mutual savings banks.

* In the banks requiring disbursements by the Corporation during 1934-1956, the amount of disbursement (excluding expenses and advances for protection of assets) has ranged from 6 percent to 116 

percent. In the case of banks with deposits in excess of $25 million, the range is from 29 percent to 68 

percent.

3 Deposit insurance fund on December 31, 1956, was $1,742 million.

Size of bank is not the only kind of concentration of risk to which the 

Corporation is subjected as insurer of deposits. In Table 36 the total 

deposits and insured deposits are given for two groups of banks with a 

relatively thin capital cushion. The first of these groups includes the 

insured banks that, on June 30, 1956, had total capital accounts amounting to less than 5 percent of their assets. The deposits of these banks 

were more than five times, and their insured deposits more than three 

times, the amount of the deposit insurance fund.

The other group of banks with thin capital margins, shown in the same 

table, includes those with total capital accounts amounting to less than 

10 percent of “ assets at risk.” The term, “ assets at risk,” as used here, 

is narrowly defined; it excludes not only the types of assets usually 

excluded in tabulations of “ risk assets,” such as cash and balances with 

other banks and United States Government obligations, but also loans 

that are insured or guaranteed by agencies of the Federal Government. 

It is evident that a bank with total capital of less than 10 percent of 

“ assets at risk” is in a vulnerable position. A relatively small depreciation

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 6 3

Table 36. D e p o sit s in I n s u r e d C o m m e r c ia l B a n k s

w it h V e r y Sm a l l C a p it a l R a t io s, J u n e 30, 1956

Number

of

banks

Deposits 

(in millions) Ratio of—

Type of 

capital ratio

Total Insured

0)

Total 

deposits 

to deposit 

insurance 

fund 2

Insured 

deposits 

to deposit 

insurance 

fund 2

Ranks with ratios of 

capital accounts to 

assets of— 3

total

total

T,p>kr than S nfircent 391 $9,024

124

$5,576 534%

7

330%

......................... 6 83 52.0% — 2 .9 %

3.0 —3.9 ......................... 70 1,926

6,974

1,185

4,308

114 70

4.0 — 4.9 ......................... 315 412 255

Banks with ratios of 

capital accounts to “ 

at risk” of—*

total

assets

Less than 10 percent

K .0«3K— ..............

226 $3,567

23

$2,163

15

211%

1

128%

2 1

6.0 —6.9 ......................... 3 37 26 2 2

7.0 —7.9 ......................... 29 679 374 40 22

8.0 —8.9 ......................... 62 916 562 54 33

9.0 —9.9 ......................... 130 1,912 1,186 113 70

1 Estimated by applying to the total deposits of each bank on June 30, 1956, the ratio of insured to 

total deposits as reported for its size group on the special call of September 21, 1955.

2 The deposit insurance fund on June 30, 1956, was $1,691 million.

8 The ratio of total capital accounts to total assets for all insured commercial banks was 7.7 percent.

4 “ Assets at risk" equal assets, net of valuation reserves, less: cash, balances due from banks, cash 

items in process of collection, United States Government obligations direct or fully guaranteed, loans 

to farmers directly guaranteed by the Commodity Credit Corporation and real estate loans insured by 

the Federal Housing Administration or the Veterans Administration. For all insured commercial banks 

the ratio of total capital accounts to “ assets at risk” was 16.1 percent.

in these assets, say two or three percent, would result in serious capital 

impairment, while a decline of ten percent would wipe out the bank’s 

capital. It is to be expected that many of these banks would be among 

the cases requiring Corporation disbursements in the event of even a 

minor depression.

On June 30, 1956, there were 226 insured banks with total capital less 

than 10 percent of “ assets at risk.” The insured deposits in these banks 

amount to 28 percent more than the entire deposit insurance fund, while 

their total deposits are more than twice the amount of the fund. The 

vulnerable position of these banks becomes even more apparent when 

we consider the fact that the assets not tabulated as “ at risk” are not 

free from risk. Judged by current market values, these and other insured 

banks have large losses on their holdings of United States Government 

obligations. These “paper” losses do not show on the banks’ books, and 

will not materialize if the banks hold the obligations to maturity. But 

whenever a bank that is close to the margin of safety runs into adverse 

circumstances, it is likely to face the necessity of selling United States 

Government obligations at market values, thus taking losses on those 

assets as well as on “ assets at risk.”

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

There is no mechanical or automatic method of translating these data 

on the concentration of bank deposits into a working rule as to the size 

of deposit insurance fund needed. It could reasonably be maintained that 

the deposit insurance fund should be at least as large as the amount of 

deposits insured under the $10,000 maximum in the largest bank participating in deposit insurance. This would mean a fund equal to about 2.5 

percent of all deposits in insured banks, or three times as large as the 

present deposit insurance fund. However, objections may be made to 

this figure on the ground that the Corporation is not likely to find itself 

in the position of paying individual depositors in the case of a very large 

insured bank in financial difficulties. An alternative proposition, therefore, 

might be that the deposit insurance fund should be at least equal to the 

minimum probable disbursement in the event of serious financial difficulties in any one of the largest insured banks. If this is placed at 30 

percent of the deposits of such a bank, it means that the deposit insurance 

fund should be about 1.25 percent of the deposits in all insured banks. 

The present fund is less than two-thirds of this size.

Table 37. B a n k F a il u r e s a n d L osses to D e po s it o r s,

C o m m e r c ia l B a n k s , 1873-1878 a n d 1930-1933

(Amounts in millions)

Year

Deposits

in

operating 

banks 1

Deposits 

in 

failed 

banks *

Disbursements of a 

hypothetical 

insurance fund at 

50 percent of 

deposits in failed 

banks *

Losses to depositors 

in closed banks 2

Depositors’ losses 

as percentage of 

deposits in 

operating banks

Amount

Percent of 

deposits in 

operating 

banks

Total

On 

balances 

of $5,000 

or less

Total

losses

Losses or 

balances 

of $5,000 

or less

1873-1878 $85.8 $43.0 3.6%4 $29.0 $25.3 2.4%s 2.1%6

1873............ $1,211 12.9 6.5 .5 4.1 3.4 .3 .3

1874............ 1,336 4.4 2.2 .2 1.6 1.4 .1 .1

1875............ 1,343 13.5 6.8 .5 5.7 4.9 .4 .4

1876............ 1,300 9.7 4.9 .4 3.3 2.9 .3 .2

1877............ 1,297 18.7 9.3 .7 5.2 4.6 .4 .4

1878............ 1,214 26.6 13.3 1.1 9.1 8.1 .7 .7

1930-1933 $6,830.2

837.1

$3,415.2

418.6

6.7%4

.8

$1,366.6

237.4

$922.0 2.7%s

.5

1.8%»

$49,489 158.0 .31930............

1931............ 44,687 1,690.2 845.1 1.9 390.5 288.0 .9 .6

1932............ 36,668 706.2 353.2 1.0 168.3 131.6 .5 .4

1933............ 33,252 3,596.7 1,798.3 5.4 540.4 344.4 1.6 1.0

1 Estimated average during the year. Deposits at the beginning of the year 1873 are estimated at 

$1,200 million, and at the beginning of 1930 at $51,066 million.

2 For a description of sources of data see the Annual Report of the Federal Deposit Insurance Corporation for 1940, pp. 70-73.

* In the 431 banks for which the Federal Deposit Insurance Corporation made disbursements during

1934-1956, the principal disbursements were 50 percent of deposits; the total disbursements, including 

payoff and liquidation expenses and advances for protection of assets were 58 percent of deposits.

< Percentage of deposits in operating banks at beginning of the period.

6 Percentage of deposits in operating banks at beginning of the period. If these rates are adjusted 

for recoveries from assessments on stockholders, the rates on total deposits are 2.7 percent for 1873-1878 

and 3.4 percent for 1930-1933; those on balances of $5,000 or less are 2.4 percent for 1873-1878 and 2.3 

percent for 1930-1933.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 65

Needed fund in the event of a wave of bank failures accompanying a deep depression. The United States has had numerous 

periods of banking troubles when large numbers of banks have failed. 

Among these, there are three in which seriously depressed business conditions and widespread banking difficulties were more intense and prolonged than the others: the late 1830’s and early 1840's, the 1870’s, 

and the early 1930’s. Tabulations of the number and obligations of 

banks that failed or suspended during the first of these periods are not 

available.

In the 1870’s the deposits of the banks that failed in a 6-year period 

amounted to approximately 7 percent of the deposits of all operating 

banks at the beginning of the period; and in the early 1930’s, in a 4-year 

period, failed banks had about 13 percent of the deposits of operating 

banks at the beginning of the period. The losses to depositors on accounts 

up to $5,000, which we may take as roughly equivalent to the present 

coverage of $10,000, adjusted for assessments collected from stockholders, 

are estimated at 2.4 percent of deposits in operating banks for the period 

of the 1870’s, and 2.3 percent for the early 1930’s. Table 37 contains data 

on deposits and losses to depositors in failed banks during the 1870’s 

and the early 1930’s.

There is no question that the present deposit insurance fund would 

be entirely inadequate should, for example, a situation similar to that 

of 1930-1933 recur. After a careful analysis we have concluded that in 

order to make the necessary disbursements in such a situation the Corporation would need to have at its disposal available funds equal, as a 

minimum, to five percent of the total deposits in all operating banks. 

This figure assumes that the necessary principal disbursements would 

have been only 37 percent of the deposits in the closed banks in comparison with the Corporation’s experience of 50 percent. Since the fund 

today is only 0.80 percent of total deposits (and with the assured borrowing power only 2.2 percent of total deposits) the inadequacy is 

obvious. As a matter of fact, it would require all of the present deposit 

insurance fund plus all of the $3 billion borrowing power to absorb only 

the losses that would occur in such an emergency.

To what extent can we expect a situation such as that of 1930-1933 

to recur? Certainly, we can conceive of the possibility of a severe economic downturn, accompanied by large numbers of bank failures. Neither 

the public confidence engendered by the existence of Federal deposit 

insurance nor the improvements in banking or bank supervision would 

be sufficient to prevent these failures, which would be a consequence of 

economic dislocations of a fundamental nature. However, because the 

Federal Government is committed, under the Employment Act of 1946, 

to follow policies which will stimulate full employment, and in view of

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

the knowledge and authority now possessed by various agencies of the 

Federal Government, it is reasonable to assume that we will be able to 

avoid the prolongation of a serious depression.

Needed fund to handle contingencies other than deep depressions. Waves of bank failures are not necessarily connected with 

deep depressions. They may occur during periods when the economy 

as a whole is stable or prosperous, because of a set of circumstances 

affecting a particular region or industry. The underlying causes of such 

a situation may be deep-rooted so that the failures tend to extend over 

a number of years. In such a situation there is the danger that the deposit 

insurance fund will come to consist largely of low quality assets acquired 

through disbursements to protect depositors.

The most recent such period, and the one for which the most data 

are available, is that of 1922-1929. This eight-year period was a time of 

great prosperity interrupted only slightly by the mild recessions of 1924 

and 1927, which were comparable in severity to that of 1954. Some of 

the bank failures of those years were due to mismanagement and defalcation of the sort that still produce an occasional failure among insured 

banks, and some were due to hangover conditions from the depression 

period of 1920-1921, similar to some of the failures among insured banks 

during the first few years of Federal deposit insurance. But for the most 

part the failures of 1922-1929 represented an inability of banks in the 

agricultural regions of the Nation to adjust themselves to the impact 

of a set of economic circumstances having an adverse effect on agriculture 

and on the trading centers of agricultural areas, even though business 

throughout the Nation was generally prosperous.

The argument may be made that the situation that existed during 

the prosperous period of the 1920’s will not recur, on the grounds that 

the “ overbanked” condition of that period no longer exists and that 

improvements in bank management and bank supervision have made 

the banks less vulnerable to adverse economic conditions. Yet the fact 

is that the banks are probably more vulnerable today, rather than less, 

to adverse economic conditions, because of their weaker capital positions, 

and because their capital positions, as they are measured today, are based 

on the assumption that the Government obligations owned by the banks 

can be held to maturity and consequently exaggerate the margin of 

safety provided by capital funds. Economic maladjustments as serious 

as those of 1922-1929, affecting either agriculture or another segment 

of the economy, may occur again, with as great an impact on the solvency 

of banks.

Perhaps the best method of visualizing how the Federal Deposit 

Insurance Corporation would be affected by a recurrence of a situation 

like that of the 1922-1929 period is to set up a hypothetical deposit inDigitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 67

Table 38. A H y p o t h e t ic a l D e p o s it I n su r a n c e F u n d fo r

C o m m e r c ia l B a n k s in th e U n ite d St a t e s, 1900-1930

(Amounts in thousands)

Year

Assessments, losses, and expenses Income and size of fund with retention of 

all net assessment income

Assumed

assessments

0)

Estimated 

losses on 

depositors' 

balances of 

$5,000 or 

less 8

Assumed

operating

expenses

(8)

Assumed

net

assessment

(4)

Investment

income

(6)

Assumed 

fund 

at end 

of year 

(6)

Estimated 

ratio of 

fund at end 

of year to 

deposits at 

midyear7

1900.......... $5,094 $2,841 $306 $2,447 $1,250 $53,697 .79%

1901.......... 6,086 3,221 365 2,500 1,342 57,539 .71

1902.......... 6,535 1,945 392 4,198 1,438 63,175 .73

1903.......... 6,830 2,439 410 3,981 1,579 68,735 .75

1904.......... 7,304 7,960 438 -1,094 1,718 69,359 .71

1905.......... 8,271 4,724 496 3,051 1,734 74,144 .67

1906.......... 8,843 3,565 531 4,747 1,854 80,745 .68

1907.......... 9,545 18,243 573 -9,271 2,019 73,493 .58

1908.......... 9,319 13,823 559 -5,063 1,837 70,267 .57

1909.......... 10,342 6,215 621 3,506 1,757 75,530 .55

1910.......... 10,983 5,108 659 5,216 1,888 82,634 .56

1911.......... 11,589 4,435 695 6,459 2,066 91,159 .59

1912.......... 12,341 3,223 740 8,378 2,279 101,816 .62

1913.......... 12,606 5,080 756 6,770 2,545 111,131 .66

1914.......... 13,355 7,746 801 4,808 2,778 118,717 .67

1915.......... 13,959 7,711 838 5,410 2,968 127,095 .68

1916 ........ 16,960 2,172 1,018 13,770 3,177 144,042 .64

1917.......... 19,876 2,627 1,193 16,056 3,601 163,699 .62

1918 , . 21,531 3,595 1,292 16,644 4,092 184,435 .64

1919 ... 24,941 3,446 1,496 19,999 4,611 209,045 .63

1920.......... 27,512 15,162 1,651 10,699 5,226 224,970 .61

1921.......... 25,074 49,096 1,504 -25,526 5,624 205,068 .61

1922.......... 26,649 33,667 1,599 - 8,617 5,127 201,578 .57

1923.......... 28,631 54,804 1,718 -27,891 5,039 178,726 .47

1924.......... 31,007 68,112 1,860 -38,965 4,468 144,229 .35

1925.......... 33,923 53,530 2,035 -21,642 3,606 126,193 .28

1926.......... 35,214 72,358 2,113 -39,257 3,155 90,091 .19

1927.......... 36,528 51,432 2,192 -17,096 2,252 75,247 .15

1928 . . . . 37,187 37,795 2,231 - 2,839 1,881 74,289 .15

1929.......... 37,039 63,880 2,222 -29,063 1,857 47,083 .10

1930.......... 38,450 157,966 2,307 -121,823 1,177 -73,563 -.14

1 Assessments becoming due during the year, estimated at .075 percent of deposits at the middle of 

the year. This is the average rate of deposit insurance assessments becoming due for the years 1951-1956; 

it is less than 1/12 of 1 percent because of the deductions from deposits that are permitted in calculating 

assessments, and because assessments becoming due during a year are based on deposits at four dates 

of which three are prior to June 30 of the year in which they become due. The deposits used in the computation are from an unpublished series, subject to revision, compiled by the Board of Governors of 

the Federal Reserve System with the cooperation of the Federal Deposit Insurance Corporation and 

the Comptroller of the Currency.

2 For description of sources of data, see the Annual Report of the Federal Deposit Insurance Corporation for 1940, pp. 70-73.

3 Estimated at 6 percent of assessments, the annual average for the Federal Deposit Insurance 

Corporation.

4 Assumed assessments, less estimated losses on depositors' balances of $5,000 or less and assumed 

operating expense.

6 At 2 Yl percent of the deposit insurance fund at the end of the preceding year.

6 Initial fund of $50 million, which is % of 1 percent of estimated deposits in commercial banks at 

the beginning of 1900, plus the increments from assessment income and investments.

7 The actual ratios at the end of the year would be somewhat lower, because of seasonal variation 

and growth in deposits.

surance fund for the period from 1900 to 1930. If established at the 

beginning of 1900 such a fund would have operated prior to 1922 nearly 

as long as the Federal Deposit Insurance Corporation has been in existence. Tables 38, 39, 40, and 41 show how such a hypothetical fund 

would have fared, had it been set up with a capital fund, assessment rate, 

insurance coverage, and assured borrowing power comparable with 

those of the Federal Deposit Insurance Corporation, and with various 

assumptions about the portion of the net assessment income retained

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
6 8 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 39. A H y p o t h e t ic a l D e p o s it I n su r a n c e F und fo r

C o m m e r c ia l B a n k s in t h e U n it e d St a t e s, 1900-1930

(Amounts in thousands)

Income and size of fund with retention of 40 

percent of net assessment income 1

Income and size of fund with entire net assessment income credited to insured banks 1

Year Net as­ Invest­ Assumed

Ratio of 

fund at Net as­ Invest­ Assumed

Ratio of 

fund at

sessment fund at end of sessment fund at end of

income ment end of year to income ment end of year to

of fund 2 income year deposits 

at midyear 3

of fund 4 income year deposits 

at midyear 3

1900.. $979 $1,250 $52,229 .77% $1,250 $51,250 .75%

1901.. 1,000 1,306 54,535 .67 1,281 52,531 .65

1902.. 1,679 1,363 57,577 .66 1,313 53,844 .62

1903. . 1,592 1,439 60,608 .67 1,346 55,190 .61

1904.. -1,094 1,515 61,029 .63 $-1,094 1,380 55,476 .57

1905.. 1,877 1,526 64,432 .58 1,094 1,387 57,957 .53

1906.. 1,899 1,611 67,942 .58 1,449 59,406 .50

1907.. -9,271 1,699 60,370 .47 -9,271 1,485 51,620 .41

1908.. -5,063 1,509 56,816

61,742

.46 -5,063 1,291 47,848 .39

1909.. 3,506 1,420 .45 3,506 1,196 52,550 .38

1910.. 5,216 1,543 68,501 .47 5,216 1,314 59,080 .40

1911. . 5,951 1,713 76,165 .49 5,612 1,477 66,169 .43

1912. . 3,351 1,904 81,420 .49 1,654 67,823 .41

1913. . 2,708 2,036 86,164 .51 1,696 69,519 .41

1914.. 1,923 2,154 90,241 .51 1,738 71,257 .40

1915.. 2,164 2,256 94,661 .51 1,781 73,038 .39

1916.. 5,508 2,367 102,536

111,521

.45 1,826 74,864 .33

1917.. 6,422 2,563 .42 1,872 76,736 .29

1918.. 6,658 2,788 120,967 .42 1,918

1,966

78,654 .27

1919. . 8,000 3,024 131,991 .40 80,620 .24

1920. . 4,280 3,300 139,571 .38 2,016 82,636 .23

1921. . -25,526 3,489 117,534 .35 -25,526 2,066 59,176 .18

1922. . -8,617 2,938 111,855 .31 -8,617 1,479

1,301

52,038 .15

1923. . -27,891 2,796 86,760 .23 -27,891 25,448 .07

1924.. -38,965 2,169 49,964 .12 -38,965 636 -12,881 -.03

1925. . -21,642 1,249 29,571 .07 -21,642 -34,523 -.08

1926..

1927..

1928.. 

1929. .

1930..

-39,257

-17,096

-2,839

-29,063

-121,823

739 -8,947

-26,043

-28,882

-57,945

-179,768

-.02

-.05

-.06

-.12

-.35

-39,257

-17,096

-2,839

-29,063

-121,823

-73,780

-90,876

-93,715

-122,778

-244,601

-.16

-.19

-.19

-.25

-.48

1 Assumed assessments, losses, operating expenses, initial funds, and rate of investment income 

the same as in Table 38.

2 40 percent of net assessment income (except when negative), adjusted in years following a negative 

assessment income to cover such amounts.

3 The actual ratios at the end of the year would be somewhat lower because of seasonal variation 

and growth in deposits.

4 Negative amounts are losses and expenses in excess of assessments due; positive amounts are the 

net assessment income in succeeding years sufficient to replace such losses.

by the fund. The first of these four tables shows the losses of that period 

on depositors’ balances of $5,000 and under, which may be taken as the 

losses met by the fund, the income of the fund, and its size at the end of 

the year, assuming that all the net assessment income was retained by 

the fund. The second table shows the income of the fund, and its size at 

the end of each year, with 40 percent of the net assessment income 

retained by the fund; and also if the entire net assessment income had 

been credited to the banks. The third table shows the disbursements of 

the fund each year on account of failed banks, on the assumption that 

such disbursements would have been equal to one-half of the deposits 

of the failed banks, and also the estimated portion of the fund that would 

have been tied up in assets acquired from failed banks. The fourth table

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 69

Table 40. D is b u r s e m e n t s a n d P o r t io n o f F u n d T ie d U p in A sse ts

A c q u ir e d fr o m F a il e d B a n k s in a H y p o t h e t ic a l D e p o s it I n s u r a n c e

F u n d fo r C o m m e r c ia l B a n k s in t h e U n it e d S t a t e s, 1900-1930

(Amounts in thousands)

Year

Principal 

disbursements 

in banks 

closed 

during 

year 1

Investment at end of year in 

assets acquired from failed 

banks

Percentage of fund in assets 

acquired from failed banks 

with retention of following 

percentage of net assessment 

income

From current year’s 

disbursement 2

From disbursements 

in prior 

years 8

Total 100% 40% None

1900.......... $5,766 $3,425 $3,425 6.4% 6.6% 6.7%

1901.......... 10,447 7,226 $2,055 9,281 16.1 17.0 17.7

1902.......... 6,032 4,087 5,364 9,451 15.0 16.4 17.6

1903.......... 10,275 7,836 4,963 12,799 18.6 21.1 23.2

1904.......... 19,222 11,262 6,651 17,913 25.8 29.4 32.3

1905.......... 11,078 6,354 9,517 15,871 21.4 24.6 27.4

1906.......... 10,234 6,669 7,975 14,644 18.1 21.6 24.7

1907.......... 70,602 52,359 7,033 59,392 80.8 98.4 115.1

1908.......... 36,736 22,913 34,051 56,964 81.1 100.3 119.1

1909.......... 13,786 7,571 30,123 37,694 49.9 61.1 71.7

1910.......... 12,213 7,105 16,653 23,758 28.8 34.7 40.2

1911.......... 11,072 6,637 8,825 15,462 17.0 20.3 23.4

1912.......... 7,853 4,630 6,871 11,501 11.3 14.1 17.0

1913.......... 20,513 15,433 5,480 20,913 18.8 24.3 30.1

1914.......... 18,108 10,362 11,313 21,675 18.3 24.0 30.4

1915.......... 21,874 14,163 11,310 25,473

16,414

20.0 26.9 34.9

1916.......... 5,436 3,264 13,150 11.4 16.0 21.9

1917.......... 7,578 4,951 7,243 12,194 7.4 10.9 15.9

1918 7,717 4,122 5,366 9,488 5.1 7.8 12.1

1919.......... 8,518 5,072 4,284 9,356 4.5 7.1 31.6

1920.......... 32,677 17,515 4,775 22,290 9.9 16.0 27.0

1921.......... 86,403 37,307 12,443 49,750 24.3 42.3 84.1

1922 45,591 11,924 28,146 40,070

40,095

19.9 35.8 77.0

1923.......... 74,801 19,997 20,098 22.4 46.2 157.6

1924.......... 105,075 36,963 19,306 56,269 39.0 112.6 (4)

1925.......... 83,468 29,938 29,369 59,307 47.0 200.6 (4)

1926......... 130,077 57,719 31,052 88,771 98.5 (4) (4)

1927......... 99,666 48,234 47,308 95,542 127.0 (4) (4)

1928.......... 71,193 33,398 49,250 82,648 111.3 (4) (4)

1929.......... 115,322 51,442 40,276 91,718 194.8 (4) (4)

1930 418,548 260,582 45,707 306,289 C4) (4)

1 At one-half of the amount of deposits in the failed banks. For 1934-1956 the principal disbursements by the Federal Deposit Insurance Corporation in deposit payoff and deposit assumption cases 

equaled 50 percent of the deposits of the banks; if payoff and liquidation expenses and advances for protection of assets are included the disbursements equaled 58 percent of the deposits of the banks.

2 Principal disbursements in excess of losses, on assumptions: (1) that reserves for losses have been 

established sufficient to meet all losses on the principal disbursements; (2) that payoff and any other 

nonrecoverable expenses have been charged off; and (3) that by the end of the year recoveries have 

equaled but not exceeded liquidation expenses and advances for protection of assets. In some of the 

cases a portion of the recovery on principal would have been received by the end of the year, but neglect 

of this here is offset by the assumption (see note 3) of a relatively rapid rate of recovery in the succeeding 

three years.

3 60 percent of disbursements in excess of losses of the preceding year, plus 30 percent of disbursements in excess of losses of the second preceding year, and plus 10 percent of disbursements in excess 

of losses of the third preceding year, based on assumption that the recoveries on principal disbursements 

are distributed as follows: 40 percent in the year following the disbursement, 30 percent in the next 

year, 20 percent the next year, and 10 percent in the next year. This assumes that in all cases the termination of liquidation of the assets is not more than four years from the end of the year in which the 

disbursement occurred.

4 Fund exhausted.

deals with the adequacy of the fund’s assured borrowing power to meet 

the situation of the middle and late 1920’s.

These tables indicate that a deposit insurance fund established at the 

beginning of 1900 would have survived the banking difficulties of 1907 

and 1908 without recourse to borrowing had the fund retained all of its 

net assessment income, though the assets acquired from failed banks

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 41. A d e q u a c y o f B o r r o w in g P o w e r of a H y p o t h e t ic a l D e p o s it

I n su r a n c e F u n d E sta b lish e d in 1900 a n d O p e r a t in g u n t il 1930

(Amounts in thousands)

Year

If fund retained all net

assessment income

192 7

192 8 

192 9 

193 0

If fund retained 40% of

net assessment income 5

192 4 

192 5 

192 6 

192 7 

192 8 

192 9 

193 0

Entire net assessment

income credited to insured banks 6

192 3 

192 4 .. .

192 5

192 6 

192 7

192 8 

192 9 

193 0

Borrowing at end of year

To hold assets 

acquired 

from 

failed 

banks 1

$20,295

8,359

44,635

306,289

$6,305

29,736

88,771

95,542

82,648

91,718

306,289

$14,647

56,269

59,307

88,771

95,542

82,648

91,718

306,289

To meet cumulative losses 

after fund 

was 

exhausted 3

$73,563

$8,947

26,043

28,882

57,945

179,768

$12,881

34,523

73,780

90,876

93,715

122,778

244,601

Total

(«)

$20,295

8,359

44,635

379,852

$6,305

29,736

97,718

121,585

111,530

149,663

486,057

$14,647

69,150

93,830

162,551

186,418

176,363

214,496

550,890

Borrowing as 

percentage 

of assured 

borrowing 

power 

<<)

14%6

30

253

20

65

81

74 100

324

46

63

108

124

118

143

367

1 Assets held (see Table 11) in excess of the fund (see Tables 9 and 10).

* Deficit in fund (see Tables 9 and 10).

3 Exclusive of any interest accruing on the borrowings.

4 On assumption that assured borrowing power was $150 million, or three times the assumed initial 

fund. With these conditions the fund and assured borrowing power together would have been 3 percent 

of deposits in operating banks at the beginning of operations. The combined fund and assured borrowing 

power of the Federal Deposit Insurance Corporation at the end of 1956 was 2.2 percent of the deposits 

in insured banks.

6 A small amount of borrowing might have been necessary in 1908.

• Borrowing of about $9 million would have been necessary in 1907 and about $12 million in 1908.

would have absorbed a larger portion of the fund than was the case with 

the fund of the Federal Deposit Insurance Corporation in 1940. Had a 

fund established in 1900 credited the entire net assessment income to 

the banks borrowing would have been necessary in the 1907-1908 situation, and it might have been needed with retention of 40 percent of net 

assessment income.

By 1920 the hypothetical fund started in 1900 would have been more 

than four times as large as its initial size had all assessment income been 

retained, but less than twice as large as its initial size if the entire net 

assessment income had been credited to the insured banks. However, 

in 1920 the deposits in operating banks were more than five times as 

large as at the beginning of the century, having increased at an average 

rate of more than 8 percent per year. Consequently, the fund would 

have declined relative to deposits. Had the fund started with an amount

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTUARIAL DATA RELEVANT TO DEPOSIT INSURANCE 71

equal to three-fourths of 1 percent of the deposits in operating banks 

and retained all the net assessment income, by 1920 it would have declined to about three-fifths of 1 percent of the deposits in operating banks. 

With retention of 40 percent of net assessment income the fund would 

have been reduced to two-fifths of 1 percent of the deposits in operating 

banks. With the entire net assessment income credited to the banks, 

the fund would have been reduced nearly to one-fifth of 1 percent of the 

deposits in operating banks.

The hypothetical fund would also have successfully weathered the 

depression in 1921. The wave of failures beginning in the latter part of 

1920 and continuing through 1921 would not have required the fund to 

make use of its borrowing power; and the proportion of the fund tied up 

at the end of 1921 in assets acquired from failed banks would have been 

considerably less than in 1908. In fact, a fund retaining all of its net 

assessment income would have had only one-fourth of the fund in such 

assets at the end of 1921—about the same as was the case with the 

Federal Deposit Insurance Corporation in 1940.

Nevertheless, the bank failures of the prosperous period of 1922-1929 

would have been disastrous to the hypothetical fund started in 1900, 

particularly if the fund had retained only 40 percent or none of its net 

assessment income. Had it retained the entire net assessment income it 

could have survived, with the use of only a portion of its assured borrowing power, until 1930. But with retention of only 40 percent of net 

assessment income both the fund and assured borrowing power would 

have been exhausted by the end of 1929. With the entire net assessment 

income credited to the banks both would have been exhausted by the 

end of 1926. In these computations it is assumed that the fund would 

have borrowed from the United States Treasury without payment of 

interest; if interest were charged the exhaustion of the borrowing power 

would have come earlier.

Taking the years 1922-1929 by themselves, the cumulative deficit of 

the fund incurred from the losses charged off would have been about 

one-half of 1 percent of the average annual aggregate deposits in operating 

banks. In addition, the assets acquired from failed banks in excess of the 

losses, and held to the end of 1929 on the assumption used in the computation that all liquidations are completed by the end of the fourth 

year after the year of failure, would have amounted to about two-tenths 

of 1 percent of the deposits in operating banks. Under the circumstances 

of such a period, liquidation of the acquired assets would probably 

proceed less rapidly than is implied by this assumption, so that a more 

reasonable allowance for holdings of assets acquired from failed banks 

would be one-half of 1 percent. This leads to the conclusion that to meet 

a situation like that of 1922-1929, the Federal Deposit Insurance CorpoDigitized for FRASER 

http://fraser.stlouisfed.org/ 

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

ration would need an accumulated fund of 1 percent of the deposits in 

insured banks.

The claim may be made that since the present deposit insurance fund 

plus the assured borrowing power of $3 billion now equals more than 

2 percent of the total deposits of insured banks, though the fund itself 

is only 0.8 percent of such deposits, this is sufficient to prepare for a 

contingency such as we have been discussing here. However, as deposits 

in insured banks increase with the passage of time, the assured borrowing 

power will become relatively smaller. In addition, dependence on the 

Corporation's borrowing power to meet such a contingency overlooks 

the fact that the banking difficulties of such a period, if they occur, will 

appear during a stable or prosperous period for the economy as a whole. 

For the Corporation to resort to the borrowing power in such a period— 

which action is tantamount to an admission that the deposit insurance 

fund is insolvent—would be detrimental to public confidence.

The greatest contribution the Corporation has made, and should 

continue to make, is maintenance of the confidence of the depositing 

public. While the standby arrangement with the Treasury is a source 

of comfort to the Corporation, to be used in the event of a serious emergency, the minute the Corporation is forced to show bills payable in its 

financial statement the public confidence might be shattered.

Summary and conclusions. Proposals to reduce the deposit insurance assessment usually compare the Corporation's loss experience 

since 1933 with the present assessment income and include an assumption 

that banking difficulties of the kind which were common prior to Federal 

deposit insurance will probably not recur. Such proposals state or implicitly assume that the present deposit insurance fund of 0.80 percent 

of the deposits in insured banks is more than adequate to meet the need 

of the Corporation for a reserve fund.

When all the evidence is considered, and not merely the Corporation's 

loss experience, there is no reason to conclude that the present deposit 

insurance fund is adequate to meet the disbursements which may be 

involved in the contingencies for which the Corporation should be prepared. The data that the Corporation has been able to collect and analyze—relating both to historical experience and to the current distribution of the Corporation's potential liability—lead us to the conclusion 

that a reserve fund amounting to 1 percent of the deposits in insured 

banks is the smallest figure that can possibly be considered reasonably 

adequate in view of the Corporation's responsibilities. Under the present 

assessment provisions, continuance of the remarkably low losses of the 

Corporation to date, and continuance of a 4 percent per year rate of 

increase in the deposits in insured banks, it will take about fifteen years 

for a fund of this size to be accumulated.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART FOUR

LEGISLATION AND REGULATIONS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
F e d e r a l L e g i s l a t i o n a n d C o r p o r a t i o n R e g u l a t i o n s

There was not enacted during 1957 any Federal legislation directly affecting the 

Federal Deposit Insurance Corporation, nor any applying to insured banks by virtue 

of their insured status. The rules and regulations of the Corporation applying to insured 

banks were not changed during the year.

S t a t e B a n k i n g L e g i s l a t i o n

In 1957 the legislatures of forty-five States held regular sessions. Eleven of these 

legislatures also held special sessions, along with the legislature of one other State.

This summary includes the more important State banking legislation enacted in 1957.

SUPERVISORY AUTHORITY

Banking code.........................................................................................Colorado (Ch. 86)

Department of Financial Institutions................................................ Illinois (H.B. 367)

Banking advisory board........................................................................... Ohio (S.B. 155)

Joint examinations with Federal Deposit Insurance Corporation of insured banks 

..............................................................................................New Hampshire (Ch. 258)

Application fees...............................................Idaho (Chs. 93, 180), Nebraska (Ch. 10)

Examination fees............................ Alabama (Act 603), Indiana (Ch. 214), Nebraska

(Ch. 10), New Mexico (Ch. 84), Oklahoma (H.B. 922), South Dakota (Ch. 9)

Compensation of supervisory authority.. .Delaware (S.B. 14), New Mexico (Ch. 128)

Bank Commissioner’s supervision of mutual trust investment companies organized 

only by and for banks.......................... Connecticut (Act 245), New York (Ch. 609)

Retention and disposition of records.............................................. Minnesota (Ch. 505)

Bank Commissioner’s approval required for surplus reduction or dividend payments 

........................................................................................................Minnesota (Ch. 601)

Examination of banks once a year if subject to examination by Federal Deposit 

Insurance Corporation or Federal Reserve Bank................. Minnesota (Ch. 601)

Factors to be considered by Commissioner in approving organization of savings banks 

and safe deposit institutions...........................................................Missouri (H.B. 91)

Commissioner may require reasonable indemnity protection against dishonest or 

criminal acts.......................................................................... New Hampshire (Ch. 19)

Verification conducted by Commissioner of deposit book of savings bank depositors 

once in every five years......................................................New Hampshire (Ch. 258)

Commissioner may withhold certificate of authority until Federal Deposit Insurance 

Corporation has agreed to accept bank or savings bank as member, unless he finds 

bank’s capital funds are reasonably adequate to safeguard depositors without 

deposit insurance.........................................................................Newr Jersey (Ch. 199)

Regulation by Commissioner of the acceptance and payment of deposits and interest 

thereon............................................................................................Wisconsin (Ch. 264)

o r g a n i z a t i o n a n d c h a r t e r c h a n g e s

Branch offices and agencies................................... Alabama (Acts 39, 40), Connecticut

(Acts 88, 235), Indiana (Ch. 82), Kansas (Ch. 72), Massachusetts (Ch. 1), Michigan 

(Act 250), Oklahoma (H.B. 576), Oregon (Ch. 161), Pennsylvania (Act 134), 

South Dakota (Ch. 11), Texas (Ch. 220), Utah (Ch. 7), Wisconsin (Ch. 386)

Time limit on opening branch................................................................Idaho (Ch. 123)

Organization of industrial savings banks........................................Florida (Ch. 57-351)

75

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

ORGANIZATION AND CHARTER CHANGES—Continued

Organization of trust company.............................................................Kansas (Ch. 151)

Par value of stock......................................................................... Delaware (S.B. 10, 11)

Capital requirements............................... Idaho (Chs. 110, 122), New Mexico (Ch. 86)

Limitation on ownership or control of voting shares in two or more banks by any

company............................................................................................ Illinois (S.B. 410),

Indiana (Ch. 165), Kansas (Ch. 75), New Jersey (Ch. 70), Pennsylvania (Act 372)

Establishment and operation of bank holding companies.. . .Massachusetts (Ch. 751)

Preferred stock..................................................................................Minnesota (Ch. 634)

Capital notes and debentures.......................................................... New Jersey (Ch. 76)

Change of place of business...................Georgia (Act 432), New York (Chs. 273, 588)

Merger or consolidation......................................................................................................

.............New York (Chs. 375, 722, 768), Oregon (Ch. 115), Pennsylvania (Act 260)

GENERAL OPERATING PROVISIONS

Uniform commercial code..........................................................Massachusetts (Ch. 765)

Finality of bank’s statement of account after six years................. Tennessee (Ch. 37)

Payment of dividends..................................................................................... Connecticut

(Act 243), Minnesota (Ch. 601), New Mexico (Ch. 86), Washington (Ch. 80)

Donation for charitable, scientific or educational purposes............Oregon (Ch. 167)

Banks insured by Federal Deposit Insurance Corporation exempted from filing 

annually list of stockholders with register of deeds...................Minnesota (Ch. 601)

Preservation of bank records................... Pennsylvania (Act 333), Tennessee (Ch. 37)

Banks required to employ independent auditors, if Superintendent deems internal 

auditing and control procedures inadequate.............................. New York (Ch. 237)

Verification of deposit book of savings bank depositors once in every five 

years..................................................................................... New Hampshire (Ch. 258)

Indemnity protection against dishonest or criminal acts. . . . New Hampshire (Ch. 19)

DEPOSITS

Deposits of and security for public funds.........................................................................

Arizona (Chs. 56, 77), California (Chs. 416, 1641, 1643), Colorado (Ch. 184), 

Florida (Chs. 57-43, 57-278, 57-354), Kansas (Ch. 74), Minnesota (Chs. 423, 

698), Missouri (S.B. 29), Montana (Ch. 50), Nebraska (Ch. 340), New York (Chs. 

261, 384, 397, 985), North Carolina (Ch. 864), South Carolina (Act 634), South 

Dakota (Ch. 69), Texas (Ch. 237), Vermont (H.B. 216), Wisconsin (Ch. 640)

Pledge of assets..................................................................................Wisconsin (Ch. 196)

Acceptance of deposits at schools in connection with savings plan............................

................................................................Florida (Ch. 57-77), Pennsylvania (Act 134)

Escheat of deposits.................................................................................Oregon (Ch. 670)

Limitation on maximum amount of deposits of any depositor in a savings bank 

..................................Minnesota (Ch. 601), Oregon (Ch. 168), Washington (Ch. 80)

Deposits in any amount of charitable and religious organizations in savings banks 

........................................................................................................New York (Ch. 822)

Deposits of cash and securities by custodian for minor................New York (Ch. 888)

Joint deposits......................................................................................... Vermont (Act 34)

Tentative trust deposits......................................................................Vermont (Act 123)

LOANS

Reaj estate loans

........................California (Ch. 393), Connecticut (Acts 89, 297), Idaho (Ch. 76),

Indiana (Chs. 39, 254), Kansas (Ch. 71), Maine (Ch. 245), New Jersey (Ch. 162), 

New Mexico (Ch. 78), Ohio (S.B. 330), Oregon (Ch. 255), Pennsylvania (Act 95)

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
STATE BANKING LEGISLATION 77

loans—Continued

Emergency real estate loans during bank holidays.....................Connecticut (Act 140)

Sale and servicing of mortgage loans.............................................Connecticut (Act 99)

Loan limits.....................................................................................................Florida (Ch.

57-42), Minnesota (Ch. 601), New Hampshire (Ch. 210), South Dakota (Ch. 14)

Instalment loans..................................................................................................... Arizona

(Ch. 80), Connecticut (Act 188), Florida (Ch. 57-132), Idaho (Ch. 233), Kansas (Ch. 143), Minnesota (Ch. 916), Nebraska (Ch. 16), New York (Ch. 597)

Open-end mortgages...........................................Kansas (Ch. 71), Minnesota (Ch. 601)

Insured or guaranteed loans..............Massachusetts (Ch. 78), Pennsylvania (Act 133)

Participation loans............................................................................New York (Ch. 867)

Group life insurance of borrowers...........Massachusetts (Ch. 400), Michigan (Act 78)

Loans to directors, officers and employees........................................................................

................................................................. Minnesota (Ch. 601), Pennsylvania (Act 180)

Property statement subscribed by borrower or certified by certified public accountant 

required for unsecured loans in excess of $500......................... Nebraska (Ch. 12)

Lenders prohibited from requiring insurance on security for loan from particular 

agent, broker or insurer..................................................................Nebraska (Ch. 185)

Extension and reamortization of G.I. real estate mortgage loans with delinquent 

interest and mortgage charges added in accordance with Federal regulations secured 

under original deed with same priority......................... New Hampshire (Ch. 219)

Loans to development credit corporation.....................................New Jersey (Ch. 218)

Monthly reports to directors of loans, discounts, advances, overdrafts and renewals 

........................................................................................................ New York (Ch. 812)

Foreign banking corporations and investors not considered conducting business in 

State by making real estate loans or holding property acquired thereunder.... 

..................................................................................................... Washington (Ch. 139)

INVESTMENTS

Real estate................................................... Minnesota (Ch. 601), New York (Ch. 684)

Real estate for banking house or for parking lot for customers and employees 

.......................................................................... Minnesota (Ch. 601), Texas (Ch. 175)

Obligations of Federal National Mortgage Association.................. Florida (Ch. 57-24)

Stock of Federal National Mortgage Association in connection with sale of mortgage

loans thereto.....................................................................................................................

... .Connecticut (Act 99), Florida (Ch. 57-24), Idaho (Ch. 108), Nevada (Ch. 316)

Obligations of Federal Land Banks...................................... .................. Iowa (Ch. 249)

Obligations of Federal Intermediate Credit Bank, Central Bank for Cooperatives 

and Banks for Cooperatives...............................Colorado (Ch. 184), Iowa (Ch. 249)

Obligations of International Bank for Reconstruction and Development..............

.......................................................................................................... Colorado (Ch. 184)

Obligations of Federal Intermediate Credit Banks............................Georgia (Act 238)

Obligations of Public Housing Authority___Florida (Ch. 57-24), Kansas (Ch. 76)

Stock of mutual trust investment companies under supervision of bank supervisory authority organized only by and for banks..Connecticut (Act 245), New York (Ch. 609)

Limitations on investment in real estate loans by trust company of its commercial 

deposits..................................................................................Massachusetts (Ch. 217)

Savings bank investments:

General limitations...........................................Maine (Ch. 72), Minnesota (Ch. 601)

Bonds of International Bank for Reconstruction and Development.................

.....................................................................................................California (Ch. 282)

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

investments—Continued

Obligations of Federal Land Banks, Federal Intermediate Credit Banks and Bank? 

for Cooperatives.....................................Maine (Ch. 78), Rhode Island (Ch. 4013)

Federal, State, county and municipal securities........................ New Jersey (Ch. 85)

Real estate......................................................................................Wisconsin (Ch. 121)

Real estate mortgages.................................................................New Jersey (Ch. 164)

Obligations of Federal National Mortgage Association..........New York (Ch. 80)

Commercial deposits..............................................................Massachusetts (Ch. 217)

reserves

Nomination to Superintendent of depositaries for reserves........New York (Ch. 285)

trust activities

Authorization for foreign corporations to act in fiduciary capacity.........................

......................................... Georgia (Act 240), Illinois (H.B. 304), Missouri (S.B. 98)

Investment of trust funds........................................................................... Connecticut

(Act 486), Indiana (Chs. 40, 87), Minnesota (Ch. 601), New York (Ch. 113)

Common trust funds............................................................................ Illinois (H.B. 161)

Registration in name of nominee of property held by fiduciary bank or trust company 

..........California (Ch. 369), Colorado (Ch. 148), Iowa (Ch. 250), Maine (Ch. 240)

Deposit of trust funds awaiting investment by fiduciary bank.... California (Ch. 562)

Fiduciary bank authorized to retain trust funds awaiting investment or disbursement 

upon delivering collateral to Commissioner of Banks..............Minnesota (Ch. 311)

Destruction of trust records and admissibility in evidence of reproductions..........

.......................................................................................................... Colorado (Ch. 140)

Method of holding assets by fiduciaries............................................Colorado (Ch. 148)

Secured deposits in its banking department by fiduciary bank as trustee under trust 

indenture for holders of revenue bonds or as fiscal agent for Federally-assisted 

housing authority.....................................................................Connecticut (Act 242)

Transfer of securities to and by fiduciaries......................................................................

...............................Connecticut (Act 573), Delaware (S.B. 287), Illinois (H.B. 290)

Foreign bank or trust company as trustee of charitable foundation, employees' pension, 

retirement or profit sharing trust may make and service loans and manage property 

acquired thereunder...................................................................... Florida (Ch. 57-409)

Charge to depositing trust company for the safekeeping of securities deposited by 

it with Department of Banking......................................................Nebraska (Ch. 13)

CHECKS AND COLLECTIONS

Time limit on stop payment orders on checks..........................North Dakota (Ch. 97)

DIRECTORS, TRUSTEES, OFFICERS, AND EMPLOYEES

Loans to .................................................. Minnesota (Ch. 601), Pennsylvania (Act 180)

Insurance on lives of officers and employees.......................... New York (Chs. 76, 569)

Continuance of group life insurance on savings banks' employees after retirement 

..................................................................................................... Connecticut (Act 214)

Retirement, disability and life insurance plans of savings banks.............................

................................................................. Connecticut (Act 71), Washington (Ch. 80)

Granting of stock options to employees.......................................Connecticut (Act 376)

Compensation of Directors or trustees...........Oregon (Ch. 169), Washington (Ch. 80)

Directors' examination................................Minnesota (Ch. 601), New York (Ch. 423)

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
STATE BANKING LEGISLATION 79

DIRECTORS, TRUSTEES, OFFICERS, AND EMPLOYEES—Continued

Notary public who is officer, director or stockholder of bank authorized to take 

acknowledgment of any person to instrument executed to or by such bank and to 

administer oath to any stockholder, director, officer, employee or agent of the 

bank.................................................................................................Nebraska (Ch. 316)

Removal of director, trustee or officer............................................New York (Ch. 284)

Qualification of directors.....................................................................................................

..................... New York (Ch. 723), North Dakota (Ch. 98), Washington (Ch. 190)

HOLIDAYS

Legal holidays..............Maryland (Ch. 252), South Dakota (Ch. 15), Texas (S.B. 89)

Saturday holiday...................................................Maine (Ch. 109), Maryland (Ch. 64)

Wednesday, Thursday or Saturday holiday...................................Florida (Ch. 57-394)

Validity of bank transactions on holidays and after regular banking hours..............

.............................................................................................................. Indiana (Ch. 45)

Emergency bank holidays may be declared by Governor..........New York (Ch. 947)

Banks authorized to close on one business day of each week___Oklahoma (H.B. 577)

LIQUIDATION

Double liability of shareholders made inapplicable to shareholders of State banks 

which are members of the Federal Deposit Insurance Corporation.. Arizona (Ch. 72)

Termination of double liability of shareholders of trust companies which are not 

commercial or savings banks........................................................ California (Ch. 261)

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N u m b e r , O f f ic e s, a n d D e p o s it s o f O p e r a t in g B a n k s

Table 101. Changes in number and classification of operating banks and branches in the United 

States (continental U. S. and other areas) during 1957

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

and other areas), December 31, 1957

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

of office

Table 103. Number of commercial banks operating branches and number of branches in the 

United States (continental U. S. and other areas), June 30, 1957

Banks operating branches grouped according to character of branch system and

branches grouped according to location of branch and by population of center in

which located and State

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

(continental U. S. and other areas), June 30, 1957 

Grouped according to number of commercial banking offices in center in which

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

Table 105. Number of operating banking offices of commercial banks in metropolitan areas 

of the United States (continental U. S. and other areas), June 30, 1957 

Grouped according to type of office

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

and other areas), December 31, 1957

Banks grouped according to insurance status and by district and State

Tabulations for all operating banks are prepared in accordance with However, trust companies engaged in general fiduciary business though

an agreement among the Federal bank supervisory agencies. Provision not in deposit banking are included; and credit unions and savings

of deposit facilities for the general public is the chief criterion for and loan associations are excluded except in the case of a few which

distinguishing between banks and other types of financial institutions. accept deposits under the terms of special charters.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Commercial and stock savings banks include the following 

categories of banking institutions:

National banks;

Incorporated State banks, trust companies, and bank and trust 

companies, regularly engaged in the business of receiving deposits, 

whether demand or time, except mutual savings banks;

Stock savings banks, including guaranty savings banks in New 

Hampshire;

Industrial and Morris Plan banks which operate under general 

banking codes, or are specifically authorized by law to accept deposits and in practice do so, or the obligations of which are regarded 

as deposits for deposit insurance;

Special types of banks of deposit: cash depositories in South 

Carolina; cooperative exchanges in Arkansas; a savings and loan 

company operating under Superior Court charter in Georgia; 

government operated banks in American Samoa, North Dakota, 

and Puerto Rico; a cooperative bank, usually classified as a credit 

union, operating under a special charter in New Hampshire; two 

savings institutions, known as “trust companies,” operating under 

special charters in Texas; employes’ mutual banking associations in 

Pennsylvania; the Savings Banks Trust Company in New York; and 

four branches of foreign banks which engage in a general deposit 

business in the continental United States or in Puerto Rico.

Private banks under State supervision, and such other private 

banks as are reported by reliable unofficial sources to be engaged 

in deposit banking;

Nondeposit trust companies include institutions operating under 

trust company charters which are not regularly engaged in deposit 

banking but are engaged in fiduciary business other than that incidental 

to real estate title or investment activities.

Mutual savings banks include all banks operating under State 

banking codes applying to mutual savings banks.

Institutions excluded. Institutions in the following categories are 

excluded, though such institutions may perform many of the same 

functions as commercial and savings banks:

Banks which have suspended operations or have ceased to accept 

new deposits and are proceeding to liquidate their assets and pay 

off existing deposits;

Building and loan associations, savings and loan associations, 

credit unions, personal loan companies, and similar institutions, 

chartered under laws applying to such institutions or under general 

incorporation laws, regardless of whether such institutions are authorized to accept deposits from the public or from their members 

and regardless of whether such institutions are called “banks” (a 

few institutions accepting deposits under powers granted in special 

charters are included);

Morris Plan companies, industrial banks, loan and investment 

companies, and similar institutions except those mentioned in the 

description of institutions included;

Branches of foreign banks, and private banks, which confine 

their business to foreign exchange dealings and do not receive 

“deposits” as that term is commonly understood;

Institutions chartered under banking or trust company laws, but 

operating as investment or title insurance companies and not engaged in deposit banking or fiduciary activities;

Federal Reserve banks and other banks, such as the Federal Home 

Loan banks and the Savings and Loan Bank of the State of New 

York, which operate as rediscount banks and do not accept deposits 

except from financial institutions;

The postal savings system.

NUMBER, OFFICES, AND DEPOSITS OF OPERATING B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 101. C h a n g e s in N u m b e r an d C lassific a tio n of O p e r a t in g B a n k s an d B r a n c h e s

in t h e U n it e d St a t e s (C o n tin e n ta l U . S. a n d Oth e r A r e a s ) D u r in g 1957

Type of change

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks

Total Insured

Noninsured Total

1 Insured Noninsured

Total Insured*

Noninsured Total

Members F. R. 

System Not 

members 

F. R.

System

Banks 

of deposit

Nondeposit

trust

companies1 National State

BANKS

Number of banks, December 31, 1957....................................... 14,130

14,208

-78

88

84

4

166

2

161

3

13,404

13,441

-37

73

73

726

767

-41

15

11

4

15

1

11

3

-41

-1

-40

13,607

13,680

-73

88

84

4

161

2

156

3

13,165

13,218

-53

73

73

4,620

4,651

-31

20

20

1,769

1,807

-38

3

3

6,776

6,760

+ 16

50

50

386

402

-16

15

11

4

9

1

5 

3

-22

-1

-21

56

60

-4

523

528

-5

239

223

+ 16

284

305

-21

Number of banks, December 31, 1956.......................................

Net change during year.............................................................

Banks beginning op era tion s...............................................

New banks® ........................ .................................

Financial institutions becoming banks of deposit4.............

Banks ceasing operations...................................................... 151

1

150

148

1

147

52 33

1

32

63 4 5 3 2

Suspended, banks not reopened or succeeded

Absorptions, consolidations, and mergers........................... 52 63 4 5 3 2

Other liquidations .................................................................

Noninsured banks becom ing insured............................... +41

+ 1 

+40

+22 

+ 1 

+21

+22 

+ 1 

+21

+ 7

-2 

+ 4 

-8 

+ 13

+ 19 -19

Successor to noninsured bank...............................................

Admissions to insurance, operating banks......................... + 19 -19

Other changes in classification........................................... + 1

+ 4 

-4 

+ 1

-8

National banks succeeding state banks............................... -2

State banks succeeding national banks................................

Admissions to F. R. System................................................. + 7 

"Withdrawals from F. R. System.......................................... -13

Changes not involving num ber in any class:

Suspended bank reopened..................................................... 1

3

230

30

1

3

224

30

1

3

222

30

1

3

218

30

1

Absorptions of noninsured nondeposit financial institution 

(not accompanied by establishment of additional 

banking offices) ...................... . ......................... 2

31

1

151

30

Changes in title, location, or name of location................... 6 36 4 8 6 2

Changes in corporate pow ers...............................................

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BRANCHES

Number of branches, December 31, 1957. 

Number of branches, December 31, 1956.

Net change during year.

Branches opened for business.......................................

Facilities provided as agents of the government6......... .

Absorbed banks converted into branches...........................

Branches replacing head offices relocated or placed in

receivership....................................................................

Other branches opened....................................................

Branches added to count6................................................

Facility added to count7................................................[ ,

Branches discontinued......................................................

Facilities........................................................................

Branches............................................................................ .

Other changes in classification am ong branches..........

Facility of state nonmember bank succeeding facility of

national bank......................................................................

Branch of national bank succeeding branch of state bank.

Branches of noninsured banks admitted to insurance.......

Branches of insured banks admitted to F. R. System. . . . 

Branches of insured banks withdrawing from F. R.

System.................................................................................

Branches transferred as result of absorption or succession. .

Changes not involving num ber in any class:

Facility of suspended bank reopened...................................

Facility succeeded by branch...............................................

Branch replacing seasonal agency........................................

Branches transferred as result of absorption or succession. . 

Changes in title, location, or name of location..................

ALL BANKING OFFICES

Number of offices, December 31, 1957...........

Number of offices, December 31, 1956...........

Net change during year.

Offices opened.

Banks.............

Branches........

Offices closed.

Banks...........

Branches. .. .

Changes in classification.

Among banks....................

Among branches...............

8,777

8,106

+671

704

14

145

6

535

3 1

33

4 

29

1

2

1

60

568

22,907

22,314

+593

79288

704

199

166

33

8,565

7,898

+667

681

14

142

5

517

2

1

31

4

27

+ 17

+ 17

1

2

1

59

563

21,969

21,339

+630

754

73

681

182

151

31

+ 58 

+41 

+ 17

212

208

+ 4

23

*'*3

1

181

2

■’ *2

-17

-17

938

975

-37

38

15

23

17

152

-58

-41

-17

8,372

7,740

+632

663

14

140

5

5012

1

31

4

27

1

2

1

53

553

21,979

21,420

+559

75188

663

192

161

31

8,269

7,641

+628

656

14

139

4

4962

1

30

4

26

+2

+2

1

2

1

53

553

21,434

20,859

+ 575

729

73

656

178

148

30

+24

+22 +2

4,178

3,809

+ 369

35911

74

1

272

17

4

13

+27

-1 

+ 1

+ 1

+26

1

2

1

34

387

8,798

8,460

+338

37920

359

69

52

17

+28 

+ 1 

+27

2,200

2,077

+ 123

1442

37

1

104

-13

+ 1

-2-12

14 120

3,969

3,884

+85

147

3

144

41

33

-21-8

-13

1,891

1,755

+ 136

1531

28

2

1202

-12

+ 1 

-1 +2 -2

+ 2 

-14

8,667

8,515

+ 152

203

50

153

68

63

5

+ 17

+29 -12

94

91

+ 3

6

-2

480

493

-13

21

156

10

9

1

-24 -22-2

9

8

+ 1

1

” 1

405

366

+39

41

' “ ’ 5

1

341

928

894

+ 34

41

' ‘ ' 41

296

257

+39

25

1

21

1

+ 15

+ 15

10

535

480

+ 55

25

25

4

3

1

+ 34

+ 19

+ 15

109

109

16 

’ *2

131

1

-15

-15

393

414

-21

16

16

3

2

1

-34

-19

-15

1 Includes 1 trust company member Federal Reserve System, December 31, 1957, and December 31, 1956.

2 Includes 3 mutual savings banks members of the Federal Reserve System, December 31, 1957, and December 31, 1956.

3 Includes 1 case in which a bank replaced an existing branch.

* Includes 1 conversion of a financial institution to a bank of deposit prior to 1957 but not recorded as of December 31, 1956.

6 Facilities established in or near military or other Federal Government installations at request of the Treasury or Commanding Officer of the installation.

6 Branches opened prior to 1957 but not included in count as of December 31, 1956.

7 Facilities opened prior to 1957 but not included in count as of December 31, 1956.

00

Ox NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N u m b e r o f O p e r a t in g B a n k in g O f fi c e s in t h e U n ite d S t a t e s (C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31, 1957

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

00

05

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured1

State and type of bank or office

Insured Noninsured

Commercial

banks

of

deposit

Total Insured

Noninsured Total

Total

Members F. R.

System Not

members

F.R.S.

Banks

Nondeposit Total Insured3

Noninsured

All

banks 

of deMutual

savings

banks

National State

of deposittrust

companies2

posit

United States—all offices............... 22,907

14,130

21,969

13,404

938 21,979 21,434 8 798 3,969

1,769

8,667 480 65 928 535 393 96.2 97.8 57.7

726 13,607 13,165 4,620 6,776 386 56 523 239 284 95.2 97.2 45.7

11,963 11,829 63k 11,613 11,196 8,875 l,k2k 5,897 865 52 350 133 217 95.1 96.8 38.0

2,167 2,075 92 1,99 k 1,969 71*5 8k5 879 21 k 173 106 67 95.9 98.9 61.3

8,777 8,565 212 8,372 8,269 4,178 2,200 1,891 94 9 405 296 109 97.7 98.9 73.1

Continental U. S.—all offices.......

Ranks................................................

22,699

14,088

21,844

13,379

855

709

21,772

13,566

21,309

13,140

8,795

4,618

3,969

1,769

8,545

6,753

404

375

59

51

927

522

535

239

392

283

96.5

95.3

98.1

97.2

57.7

45.8

Unit banks.. .................................. 11,U2 11,820 622 11,593 11,187 3,87k l,k2k 5,889 858 k8 3k9 133 216 95.2 96.9 38.1

Banks operating branches............. 2,1U6 2,059

8,465

87 1,973 1,958 7kk 3k5 86k 17 3 173 106 67 96.1 99.1 61.3

Branches........................................... 8,611 146 8,206 8,169 4,177 2,200 1,792 29 8 405 296 109 98.4 99.6 73.1

208

42

125 83 207 125 3 122 76 6 1 1 61.9 62.2

25 17 41 25 2 23 11 5 1 1 67.6 69.4

Unit banks .................. 21 9 12 20 9 1 8 7 k 1 1 52.9 56.3

r\'r\0Yn i*} Yt ft hvn'Y) rn PSt 21

166

16 5 21 16 1 15 k 1 80.0 80.0

100 66 166 100 1 99 65 1 60.6 60.6

State

Ain Ka ol 1 Aflfi PPQ 299

239

299

239

299 299 121 30 148 100.0 100.0

239 239 69 25 145 100.0 100.0

TT'toii hn'YiIfQ 219 219 219 219 5k

15

22 lk3

2

100.0 100.0

77/T41 Z*0 fa M Cl 20

60

20 20 20 8 100.0 100.0

60 60 60 52 5 3 100.0 100.0

A _ /ill /*PQ 138

7

132 6 138 132 100 8 24 6 100.0 100.0

6 1 7 6 3 1 2 1 100.0 100.0

2 2 2 2 1 1 100.0 100.0

/T 3^4*/7wtftJ)OQ 5 i 1 5 \ 2 1 1 1 100.0 100.0

131 126 5 131 126 97 7 22 5 100.0 100.0

266

237

261

232

5 266

237

261 60 21 180 4 1 98.5 98.5

5 232 55 20 157 4 1 98.3 98.3

211

26

206 5 211 206 50 19 137 k 1 98.1 98.1

rxtnorrtifvi (1 Tim?} Pn PR 26 26 26 5 1 20 100.0 100.0

29 29 29 29 5 1 23 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
California—all offices......................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Colorado—all offices........................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Connecticut—all offices..................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Delaware—all offices........................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

District of Colum bia—all offices..

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Florida—all offices............................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Georgia—all offices..........................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Idaho—all offices..............................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches...........................................

Illinois—all offices............................

Banks................................................

Unit banks.....................................

Banks operating branches.............

Branches............................................

1,506 9 1,515 1,506 1,099

122 6 128 122 48

70 k 7k 70 SO

52 2 5k 52 18

1,384 3 1,387 1,384 1,051

162 18 180 162 79

157 18 175 157 76

152 18 170 152 73

5 5 5 3

5 5 5 3

225 108 227 217 95

82 76 87 77 34

k6 62 5k kk 20

36 lk S3 33 lk

143 32 140 140 61

67 6 69 66 7

27 2 27 26 7

21 20 20 7

6 2 7 6

40 4 42 40

73 73 73 40

16 16 16 7

2 2 2

lk lk lk 7

57 57 57 33

278 5 283 278 108

265 5 270 265 98

252 5 257 252 88

13 IS IS 10

13 13 13 10

422 59 481 422 94

353 59 412 353 52

331 59 390 331 k2

22 22 22 10

69 69 69 42

106 106 106 75

28 28 28 9

20 20 20 5

8 8 8 k

78 78 78 66

937 6 943 937 398

933 6 939 933 394

929 6 935 929 390

k k k k

4 4 4 4

1,515

128

7k5k

1,387

180

175

170

5

5

333

158

108

50

175

73

29218

44

73

162

Ik

57

283

270

257

IS

13

481

412

39022

69

106

28208

78

943

939

935

k

4

222

2612

1U

196

19

18

171

1

5711

S

8

46

202

19

5

1

k

14

13

13

13

129

129

129

185 9

48 6

28 k

20 2

137 3

64 18

63 18

62 18

1

1

65 9 1 106 8 98

32 9 1 71 5 66

21 9 1 5k 2 52

11 17 3 lk

33 35 3 32

39 3 4 1 3

17 1 2 1 1

13 1 1

k 1 1 1

22 2 2 2

14

4

1

&

101

157 2 3

154 2,- 3

151 2% S

3

3

300 59

288 59

281 59

7

12

16

11

9

2

5

410 3 3

410 3 3

kio 3 3

100.0

100.0

100.0

100.0 100.0

90.0

89.7 

89.k

100.0

100.0

67.8

52.2 

k 3.0

72.0

81.7

91.8

93.1 

100.0

75.0

90.9

100.0

100.0

100.0

100.0

100.0

99.3

99.3

99.2

100.0

100.0

87.7

85.7 

8k.9

100.0

100.0

100.0

100.0 100.0

100.0

100.0

99.7

99.7

99.7

100.0

100.0

100.0

100.0

100.0

100.0

100.0

90.0

89.7 

89.k

100.0

100.0

96.0

89.5

83.0

100.0

100.0

95.7

96.3

100.0

85.7

95.2

100.0

100.0

100.0

100.0

100.0

99.3

99.3 

99.2

100.0

100.0

87.7

85.7 

8k.9

100.0

100.0

100.0

100.0

100.0

100.0 100.0

99.7

99.7 

99.9

100.0

100.0

7.5

7.0

S.7

17.6 8.6

25.0

50.0 

100.0

00NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N u m b e r o f O p e r a tin g B a n k in g O f f i c e s in th e U n ite d S ta t e s (C o n t in e n t a l U. S. an d O t h e r A r e a s ), D e c e m b e r 31, 1957— (Jont.

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

State and type of bank or office

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured1

Total Insured

Noninsured Total

Insured Noninsured

Total Insured3

Noninsured

All

banks 

of deposit

Commercial

banks

of

deposit

Mutual

savings

Total banks

Members F. R. 

System Not

members

F.R.S.

Banks 

of deposit

Nondeposit

trust

com­ National State panies2

691 684 7 687 680 ?36 144 300 6 1 4 4 99.1 99.1 100.0

468 461 7 464 457 124 109 224 6 1 4 4 98.7 98.7 100.0

372 365 7 368 361 93 95 173 6 1 U U 98.U 98.U 100.0

R/i/m I*q r\'r\0Tni'i,Yi ft Tirnw /*h 96 96 96 96 31 1U 51 100.0 100.0

pVioq 223 223 223 223 112 35 76 100.0 100.0

Tahtci n 11 ftffi poo 831 783 48 831 783 96 75 612 47 1 94.3 94.3

670 624 46 670 624 96 71 457 45 1 93.3 93.3

TTn'if Tiri'nlfft 550 506 UU 550 506 96 68 SU2 us 1 92.2 92.2

120 118 2 120 118 3 115 2 98.3 98.3

Pro n pli no 161 159 2 161 159 4 155 2 98.8 98.8

TTofifi^Q 600 557 43 600 557 174 43 340 43 92.8 92.8

595 552 43 595 552 169 43 340 43 92.8 92.8

F7W/ T\si/Yt lf& 590 51+7 US 590 5^7 161+ US 3U0 US 92.7 92.7

Z?/tm n^Y\pvniiytn hrnwi'h.PSi 5 5 5 5 5 100.0 100.0

5 5 5 5 5 100.0 100.0

T* r»r__oil ppo 472 459 13 472 459 137 44 278 13 97.2 97.2

364 351 13 364 351 88 20 243 13 96.4 96.4

TT'n'ii Ti/J'ttlffi 312 299 13 312 299 72 13 21U 13 95.8 95.8

52 52 52 52 16 7 29 100.0 100.0

Pro r» nVi oc 108 108 108 108 49 24 35 100.0 100.0

T niiln lno---11 /\flRpAo 323 322 1 323 322 116 29 177 1 99.7 99.7

182 181 1 182 181 41 11 129 1 99.5 99.5

123 122 1 123 122 20 5 97 1 99.2 99.2

P/r«Z*o n'nom’ti'vtn hrn'Yi/'hea 59 59 59 59 21 6 32 100.0 100.0

141 141 141 141 75 18 48 100.0 100.0

Mfliiic—3.11 offices . . . . 203 176 27 168 152 64 42 46 16 35 24 11 86.7 90.5 68.6

89 72 17 57 51 30 6 15 6 32 21 11 80.9 89.5 65.6

Unit banks ........................ 57 U5 12 27 26 18 2 6 1 SO 19 11 78.9 96.3 63.3

P/r<nl*o n'norni'iVin t\YnvtPR 32 27 5 SO 25 12 U 9 5 2 2 8U.U 83.S 100.0

Branches........................................... 114 104 10 111 101 34 36 31 10 3 3 91.2 91.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Maryland—all offices.........

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Massachusetts—all offices.

Banks...................................

Unit banks.......................

Banks operating branches

Branches*............................

M ichigan—all offices.........

Banks..................................

Unit banks.......................

Banks operating branches

Branches..............................

M innesota—all offices.......

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Mississippi—all offices. . . .

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Missouri—all offices...........

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

M ontana—all offices..........

Banks...................................

Unit banks.......................

Banks operating branches

Branches..............................

Nebraska—all offices..........

Banks...................................

Unit banks.......................

Banks operating branches

Branches.............................

Nevada—all offices..............

Banks...................................

Unit banks.......................

Banks operating branches,

Branches..............................

375 4 340 337 114

153 2 148 147 56

98 1 97 97 37

55 1 51 50 19

222 2 192 190 58

483 261 467 461 269

172 185 171 166 109

92 133 96 91 69

80 52 75 75 ko

311 76 296 295 160

838 6 844 838 240

393 5 398 393 75

293 k 297 293 5k

100 1 101 100 21

445 1 446 445 165

680 10 689 679 184

674 10 683 673 178

672 10 681 671 176

2 2 2 2

6 6 6 6

308 3 311 308 45

192 3 195 192 27

133 3 136 133 15

59 59 59 12

116 116 116 18

593 19 612 593 78

589 19 608 589 76

585 19 60k 585 7k

k k k 2

4 4 4 2

115 1 116 115 42

114 1 115 114 41

113 1 Ilk 113 ko

1 1 1 1

1 1 1 1

384 39 423 384 125

382 39 421 382 123

380 39 kl9 380 121

2 2 2 2

2 2 2 2

38 38 38 23

6 6 6 3

1 1 1 1

5 5 5 2

32 32 32 20

379

155

99

56

224

744

357

225

132

387

844

398

297

101

446

690

684

6822

6

311

195

136

59

116

612

608

60k

k

4

116

115

Ilk1

1

423

421 U92

2

386

1

5

32

6811

3

8

57

117

246

18

93

357

151

116

35

206

29

29

15

7

5

99

97

95

44

44

kk

17

17

17

102

155 3 39 38 1 98.9 99.1 97.4

80 1 7 6 1 98.7 99.3 85.7

57 2 1 1 99.0 100.0 50.0

23 1 5 5 98.2 98.0 100.0

75 2 32 32 99.1 99.0 100.0

75 6 277 22 255 64.9 98.7 7.9

33 5 186 6 180 48.2 97.1 3.2

16 5 129 1 128 k0.9 9k.8 .8

17 57 5 52 60.6 100.0 8.8

42 1 91 16 75 80.4 99.7 17.6

241

167

123

kk

74

466

4 66

4 2 99.5 99.5

3

2

2 99.2 99.2

2 99.3 99.3

1 99.0 99.0

1 99.8 99.8

9 1 1 1 98.7 98.7 100.0

9 1 1 1 98.7 98.7 100.0

k66 9 1 1 1 98.7 98.7 100.0

100.0 100.0

100.0 100.0

248

158

3 99.0 99.0

3 98.5 98.5

113 3 97.8 97.8

k5

90

100.0 100.0

100.0 100.0

416 15 4 97.5 97.5

416 15 4 97.5 97.5

kl6 15 k 97.5 97.5

100.0 100.0

100.0 100.0

29 1 100.0 100.0

29 1 100.0 100.0

29 1 100.0 100.0

100.0 100.0

100.0 100.0

242

242

33

33

6 92.1 92.1

6 92.0 92.0

2k2 33 6 92.0 92.0

100.0 100.0

100.0 100.0

5 100.0 100.0

1 100.0 100.0

100.0 100.0

1 100.0 100.0

4 100.0 100.0 00

coNUMBER, OFFICES, AND DEPOSITS OF OPERATING B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N u m b e r o f O p e r a t in g B a n k in g O f f i c e s in t h e U n ited S ta t e s ( C o n t in e n t a l U. S. an d O t h e r A r e a s ), D e c e m b e r 31, 1957—Cont. §

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured1

State and type of bank or office

Insured Noninsured

Commercial

Total banks

Insured

Noninsured Total

Total

Members F. R. 

System Not Banks

Nondeposit Total Insured*

Noninsured

All 

banks 

of deMutual

savings

National State

members

F.R.S.

of deposit

trust

companies2

posit of

deposit

banks

112 79 33 77 66 52 1 13 11 35 13 22 70.5 85.7

85.1

8U.5

100.0

37.1

35.3

88.8

100.0

100.0

100.0

108 75 33 74 63 50 1 12

11

1

11 34 12 22 69.4

10 u 71 83 71 60 U8

2

1 11 83 11 22 68.3

Banks operating branches............. u U 8 3 1 1 100.0

Branches........................................... 4 4 3 3 2 1 1 1 100.0 100.0

New Jersey—all offices.................... 644 641 3 605 602 360 160 82 3 39 39 100.0 100.0

B anks............................................... 294 291 3 271 268 169 58 41 3 23 23 100.0 100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

Unit banks..................................... 173 170 3 159 156 10 k 26 26 8 U

9

U

9

100.0

Banks operating branches............. 121 121 112 112 65 32 15 100.0

Branches........................................... 350 350 334 334 191 102 41 16 16 100.0

New Mexico—all offices.................. 91 91 91 91 45 9 37 100.0 100.0

Banks................................................ 52 52 52 52 26 8 18 100.0 100.0

Unit banks..................................... 30 80 80 30 16 7 7 100.0 100.0

Banks operating branches............. 22 22 22 22 10 1 11 100.0 100.0

Branches........................................... 39 39 39 39 19 1 19 100.0 100.0

New York—all offices...................... 1,900

588

1,885 15 1,638

460

1,623

449

641 868 114 11 4 262 262 99.4 99.3 100.0

Banks ...................................... 577 11 275 124 50 7 4 128 128 98.8 98.5 100.0

100.0

100.0

Unit banks..................................... 868 860 8 307 299 202 65 82 U 4 61 61 98.9 98.7

Banks operating branches............ 220 217 8 153 150 73 59 18 8 67 67 98.6 98.0

Branches4.......................................... 1,312

597

1,308

593

4 1,178

597

1,174

593

366 744 64 4 134 134 99.7 99.7 100.0

North Carolina—all offices............ 4 125 62 406 4 99.3 99.3

Banks................................................ 210 209 1 210 209 45 6 158 1 99.5 99.5

Unit banks..................................... 119 119 119 119 20 2 97 100.0 100.0

Banks operating branches............. 91 90 1 91 90 25 u 61 1 98.9 98.9

Branches........................................... 387 384 3 387 384 80 56 248 3 99.2 99.2

North Dakota—all offices............... 180 176 4 180 176 38 3 135 4 97.8 97.8

Banks.............................................. .. 154 150 4 154 150 38 2 110 4 97.4 97.4

Unit banks..................................... 186 182 4 136 132 38 1 93 £ 97.1 97.1

Banks operating branches............. 18 18 18 18 1 17 100.0 100.0

Branches........................................... 26 26 26 26 1 25 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Ohio—all offices..................

Banks...................................

Unit banka.......................

Banks operating branches.

Branches..............................

Oklahoma—all offices........

Banks...................................

Unit banks.......................

Banks operating branches.

Branches..............................

Oregon—all offices..............

Banks...................................

Unit banks.......................

Banks operating branches.

Branches4.............................

Pennsylvania—all offices..

Banks...................................

Unit banks.......................

Banks operating branches.

Branches4.............................

Rhode Island—all offices..

Banks...................................

Unit banks.......................

Banks operating branches.

Branches..............................

South Carolina—all offices

Banks...................................

Unit banks.......................

Banks operating branches.

Branches..............................

South Dakota—all offices. .

Banks...................................

Unit banks.......................

Banks operating branches.

Branches..............................

.

Tennessee—all offices.........

Banks...................................

Unit banks........................

Banks operating branches.

Branches...............................

Texas—all offices..................

Banks....................................

Unit banks........................

Banks operating branches.

Branches...............................

1,116 1 1,102 1,101 465

613 1 611 610 229

466 1 466 465 164

147 145 145 65

503 491 491 236

385 8 393 385 201

379 8 387 379 197

373 8 381 373 193

6 6

6

4

6 6

6

4

211 2 212 210 151

54 2 55 53 12

40

2 41 39 10

14 14 14

2

157 157 157 139

1,399 16 1,367 1,351 845

765 13 771 758 498

601 11 609 598 401

164 2 162 160 97

634 3 596 593 347

113 4 88 85 49

15 3 10 8 5

5 2 3 2 2

10

1 7 6 3

98 1 78 77 44

247 7 254 247 106

137 7 144 137 26

105 7 112 105 13

32 32 32 13

110 110 110 80

225 225 225 58

172 172 172 34

144 144 144 30

28 28 28

4

53 53 53 24

4597 466 459 170

291 7 298 291 74

233 7 240 233 52

58 58 58 22

168 168 168 96

955 28 983 955 478

931 28 959 931 457

906 28 934 906 435

25 25 25 22

24 24 24 21

1,117

614

467

147

503

393

387

S8166

213

56

42

14

157

1,415

778

612

166

637

117

187

11

99

254

144 112

82 110

225

172

144

28

53

466

298 240

58

168

983

959

934

25

24

359

162

128

34

197

27

26

2511

117614

26088

56

32

172

181511

26

26

26

26963

17

125 122

1193

277

219

173

46

58

157

156

1551

11115312

12

15312

12

777111

1

48 1 1 1 1

34 1 1 1

1

23 1 1 1 1

11

14

246 13 3 48 48

172 10 3 7

7

141

8 3 3

3

31 2 4 4

74

3 41 41

18

2 1 29 28

1

2

1

1 8 71

1 4

3

1

2

1

4

4

16

1 21 21

134 7

105 7

877

18

29

141

112

88

24

29

263

4

3

208 4 3

175

4

3

33

55

352 28

352 28

352 28

99.9

100.0

100.0

98.2

98.2

98.2

100.0

100.0

99.5

98.2

97.6

100.0

100.0

99.1

98.7

98.7

98.8

99.5

97.4

88.2

83.3

90.9

99.0

97.2

95.1 

93.8

100.0

100.0

100.0

100.0 100.0

100.0

100.0

99.1

100.0

100.0

97.2

97.1

97.0

100.0

100.0

99.9

99.8

99.8

100.0

100.0

98.2

98.2

98.2

100.0

100.0

99.5

98.1

97.5

100.0

100.0

99.0

98.7

98.7

98.8

99.5

97.7

88.9 

100.0

85.7

98.7

97.2

95.1

93.8

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.1

98.6

98.3

100.0

100.0

97.2

97.1

97.0

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

96.6

87.5

75.0

100.0

100.0

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N u m b e r o f O p e r a tin g B a n k in g O f f i c e s in t h e U n ite d S ta t e s (C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31, 1957— Cont. jg

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

All banks Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured1

State and type of bank or office

Insured Noninsured

Total Insured

Noninsured Total

Total

Members F. R. 

System Not Banks

Nondeposit Total Insured3

Noninsured

All 

banks 

of deCommercial

banks

Mutual

savings

National State

members

F.R.S.

of deposittrust

companies2

posit of

deposit

banks

Utah—all offices............................... 115 110 5 115 110 49 29 32 5 95.7 95.7

89.8 

86.1

Banks................................................ 49 44 5 49 44 7 13 24 5 89.8

Unit banks..................................... 36 31 5 36 31 5 7 19 5 86.1

Banks operating branches............. 13 13 13 13 2 6 5 100.0 100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.8

Branches........................................... 66 66 66 66 42 16 8 100.0

100.0

100.0

100.0

100.0

100.0

99.8

Verm ont—all offices........................ 94 93 1 77 76 40 2 34 1 17 17

7

100.0

100.0

100.0

100.0

100.0

,Banks................................................ 66 65 1 59 58 33 1 24 1 7

Unit banks.................................... 53 52 1 U8 U7

11

29 18 1 5 5

Banks operating branches............. 13 I S 11 U 1 6 2 2

Branches........................................... 28 28 18 18 7 1 10 10 10

Virginia—all offices.......................... 530 529 1 530 529 241 114 174 1

Banks................................................ 313 312 1 313 312 132 70 110 1 99.7 99.7

99.6

100.0

100.0

99.4

97.7 

97.1

100.0

100.0

97.8

Unit banks..................................... 221* 223 1 22U 223 95 5k 7U

36

1 99.6

Banks operating branches............. 89 89 89 89 37 16 100.0

Branches........................................... 217 217 217 217 109 44 64 100.0

W ashington—all offices.................. 343 341 2 332 330 247 25 58 2 11 11 99.4 100.0

100.0

100.0

100.0

100.0

Banks................................................ 92 90 2 88 86 25 10 51 2 4 4 97.8 

97.2

100.0

100.0

97.8

Unit banks..................................... 71 69 2 69 67 15 7 h5

6

2 2 2

Banks operating branches............. 21 21 19 19 10 3 2 2

Branches4.......................................... 251 251 244 244 222 15 7 7 7

West Virginia—all offices............... 183 179 4 183 179 77 36 66 4

Banks................................................ 183 179 4 183 179 77 36 66 4 97.8 97.8

Unit banks..................................... 183 179 ■4 183 179 77 36 66 U 97.8 97.8 Banks operating branches.............

Branches...........................................

Wisconsin—all offices...................... 706 700 6 702 697 112 72 513 2 3 4 3 1

1

99.6

99.5

99.3

100.0

99.7

99.6

99.6

100.0

75.0

75.0

75.0

Banks................................................ 555 549 6 551 546 96 65 385 2 3 4 3

Unit banks..................................... U6U

91

U58

91

6 U60

91

U55

91

91 61 303 2 3 -4 3 jr

Banks operating branches............. 5 U 82

Branches........................................... 151 151 151 151 16 7 128 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
yom ing—all offices....................... 54 54 54 54 26 15 13 100.0 100.0

Banks................................................ 53 53 53 53 25 15 13 100.0 100.0

Unit banks..................................... 52 52 52 52 2U

1

15 13 100.0 100.0

Banks overating branches............. 1 1 1 1 100.0 100.0

Branches........................................... 1 1 1 1 1 100.0 100.0

Other area

Alaska—all offices6........................... 34 29 5 34 29 1 28 5 85.3 85.3

Banks................................................ 18 13 5 18 13 1 12 5 72.2 72.2

Unit banks..................................... 12 7 5 12 7 1 6 5 58.3 58.3

Banks overating branches............. 6 6 6 6 6 100.0 100.0

Branches........................................... 16 16 16 16 16 100.0 100.0

American Samoa—all offices........ 1 1 1 1

Banks................................................ 1 1 1 1

Unit banks..................................... 1 1 1 1

Banks overating branches.............

Branches...........................................

Hawaii—all offices8.......................... 72 9 63 72 9 9 57 6 13.6 13.6 Banks................................................ 10 3 7 10 3 3 2 5 60.0 60.0

Unit banks..................................... ■4 u U 4

Banks overating branches............. 6 3 3 6 3 3 2 1 60.0 60.0

Branches........................................... 62 6 56 62 6 6 55 1 9.8 9.8

Mariana Islands—all offices.......... 3 2 1 3 2 2 1 66.7 66.7 Banks................................................

Unit banks.....................................

Banks overating branches.............

Branches4.......................................... 3 2 1 3 2 2 1 66.7 66.7

Panama Canal Zone—all offices. . 4 4 4 4

Banks................................................

Unit banks.....................................

Banks overating branches.............

Branches4.......................................... 4 4 4 4

Puerto R ico—all offices.................. 89 81 8 89 81 81 8 91.0 91.0

Banks................................................. 10 7 3 10 7 7 3 70.0 70.0

Unit banks..................................... 3 2 1 3 2 2 1 66.7 66.7

Banks overating branches............. 7 5 2 7 5 5 2 71.U

93.7

71.U

Branches4.......................................... 79 74 5 79 74 74 5 93.7

Virgin Islands—all offices.............. 5 4 1 4 4 2 2 1 1 80.0 100.0

Banks................................................ 3 2 1 2 2 1 1 1 1 66.7 100.0

Unit banks..................................... 1 1 1 1

Banks overating branches............. 2 2 2 2 1 1 100.0 100.0

Branches........................................... 2 2 2 2 1 1 100.0 100.0

1 Nondeposit trust companies are excluded in computing these percentages.

2 Includes 1 trust company in Missouri member of the Federal Reserve System.

8 Includes 3 banks members of the Federal Reserve System: 1 in Indiana and 2 in Wisconsin.

* Includes branches operated by banks located in other states or areas as follows: 1 noninsured branch in Massachusetts operated by a New York bank; 2 insured branches in 

New York operated by a Puerto Rico bank; 1 insured branch in Oregon operated by a California bank; 1 insured branch in Pennsylvania operated by a New Jersey bank and 1 non- ^ 

insured branch in Pennsylvania operated by a New York bank; 2 insured branches in Washington operated by a California bank; 2 insured branches and 1 noninsured branch in the CO

Mariana Islands operated by a California bank; 4 noninsured branches in the Panama Canal Zone operated by 2 New York banks; and 12 insured branches in Puerto Rico operated 

by 2 New York banks.

6 Includes 6 insured national banks not members of the Federal Reserve System.

« Includes, among noninsured banks, 1 national bank operating 23 branches.

Back figures: See the Annual Report for 1956, pp. 92-99, and earlier reports.

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 103. N u m b e r o f C o m m e rcia l B a n k s O p e r a tin g B r a n c h e s a n d 

N u m b e r o f B r a n c h e s in t h e U n ite d S ta te s (C o n t in e n t a l U. S. a n d O t h e r A r e a s ), J u n e 30, 1957 CD

BANKS OPERATING BRANCHES GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM AND BRANCHES GROUPED

ACCORDING TO LOCATION OF BRANCH AND BY POPULATION OF CENTER IN WHICH LOCATED AND STATE

Total 

number 

of banks 

operating 

branches1

Number of banks operating branches2 Branches

State or other area, 

or population of center Within

head

office

cityonly8

Within

head

office

county

Within

head

office

State4

Outside

head

office

State5

At Federal 

Government 

establishments 

only6

Total

number

of

branches

In

head

office

city

Elsewhere 

in head 

office 

county

Elsewhere 

in head 

office 

State

Outside

head

office

State

At Federal 

Government 

establishments7

Total United States1........................ 1,934

1,914

20

457 973 412 7 85 7,990 2,851

2,827

24

277 2,578

2,491

87

25 259

454 973 398 6 83 7,836

154

2,262

15

8 248

Other areas................................... 3 14 1 2 17 11

In centers with population ofLess than 250*..................................

250 to 1 000 ..................................

22 15 7 143 1 92 50

188 1 128 58 'l 1,134

1,378

6 734 393 1

1 000 to 5 000 ................................. 407 16 299 80 12 27 671 680

5*000 to 25 000................................. 501 131 260 83 27 1,358

1,087

1,090

1,028

513

247 518 592 1

25 000 to 100,000............................. 425 149 172 75 29 526 221 333 7

100 000 to 500,000 ......................... 255 98 80 61 2 14 858 30 191 11

500*000 to 2 500,000 .................. 99 46 16 33 2 2 917 5 103 3

2 500 000 or more . .............. 37 16 3 15 3 269 6 236 2

Federal Gov’t establishments®.. .. 259 259

State

AIqKqtyiji .............. 19 5 11 1 2 56 23 15 12 6

6 1 5 118 21 34 57 6

Arkansas • ...................... 24 1 19 4 27 1 20 5 1

California ........................ 52 8 21 21 2 1,339

5

265 151 882 41

pAlAfoHn . .......... , . 5 5 5

r,AtinopH/inf’. ............ 35 12 16 7 127 49 44 33 1

"HdIq warp . .................... 7 1 2 4 42 10 18 12 2

nf Columbia .............. 14 14 54 49 5

13 13 13 13

22 7 3 9 3 68 43 1 13 11

8 3 5 77 5 5 66 1

Tllin aiq .................. 4 4 4 4

94 25 66 1 2 210 113 92 1 4

120 83 37 161 118 43

TTonacjQ ................ 3 3 3 3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky........

Louisiana.........

Maine..............

Maryland........

Massachusetts.

Michigan...................................

Minnesota.................................

Mississippi................................

Missouri....................................

Montana...................................

Nebraska...........

Nevada..............

New Hamsphire.

New Jersey........

New M exico... .

New York..........

North Carolina. 

North Dakota. .

Ohio...................

Oklahoma..........

Oregon..............

Pennsylvania. . 

Rhode Island. . 

South Carolina. 

South Dakota..

Tennessee.

Texas........

Utah.........

Vermont. . 

Virginia. ..

Washington... 

West Virginia. 

Wisconsin. . . . 

Wyoming.......

Other area

Alaska........................

Hawaii.......................

Mariana Islands.......

Panama Canal Zone.

Puerto R ico...............

Virgin Islands...........

47

54

30 

51 

72

100

2

55

4 1

2

5 

3

108

20

147

91

18

136

6

12

161

7

31 

29

53

23

12

11

85

20

431

1

411

11

27

70

7

69

25

6

85

5

5

21

15

2

2

2

5

43

34

12

7

3

6

27

24

99

135

109

186

286

426

6

107

4

1

2

30

3

321

36

1,134

372

26

452

152

558

75

101

54

157

22

57

17

206

240

1511

60 34 2 3

77 45 8

20 46 38 5

79 47 47 13

154 127 1 1 3

245 120 60 1

6

26 50 28 3

2 2

1

1 1

6 3 19 2

2 1

141 172 2 6

17 10 4 5

452

106

298

66

371

194

2 11

6

1 13 12

252 188 9 3

1 5

29 10 112 1

222

22

224

29

103

22

2 7

2

27 18 52 4

24 29 1

86 49 16 6

3 19

9 8 35 5

8 9

123 28 38 17

63 41 128 2 6

18 106 26 1

1

4 5 6

15 15 27 3

1 2

4

5 53 12

2

1 Excludes trust companies not regularly engaged in deposit banking.

2 Each bank is reported once only, according to the widest area in which it operates branches.

8 Includes 2 cases of cities which cover all or portions of 2 or more counties; New York (5 counties); and Atlanta (portions of 2 counties).

4 Includes banks operating offices in 2 or more counties other than the cases listed in note 3.

6 Out-of-State branches are operated as follows: 1 bank in California operates 1 branch in Oregon and 2 branches in Washington; 1 bank in New Jersey operates 1 branch in 

-Pennsylvania; and 1 bank in New York operates 1 branch in Massachusetts and 1 branch in Pennsylvania. Out-of-country branches are operated as follows: 1 bank in California operates 3 branches m the Mariana Islands; 2 banks in New York operate 12 branches in Puerto Rico and 4 branches in the Panama Canal Zone; and 1 bank in Puerto Rico operates 2 branches m New York. *

6 Includes Army, Navy, and Air Force installations, Veterans Administration hospitals, and a few other Federal Government establishments. Banking offices in or near such establishments are operated by 176 banks, of which 91 also operate other branches.

7 Operated by the 176 banks referred to in note 6. Includes 248 banking facilities in or near military or other Federal Government establishments, provided at the request of the 

lreasury Department or Commanding Officer, and 11 other branches in or near such establishments.

8 Includes 12 banking offices in centers for which the population was not available.

9 See note 6; population not available.

COCrc OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
o

Ci

Table 104. N um ber o f O perating Banking O ffice s o f Com m ercial Banks in th e U nited S ta tes

(C o n tin en ta l U. S. and O th er A reas), June 30, 1957

GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH

LOCATED AND BY TYPE OF OFFICE AND POPULATION OF CENTER IN WHICH LOCATED

Offices in centers with— Offices operated by—

All Insured banks

Noninsured

banks2

Population of center banking

offices1 1

banking

office

2

banking

offices

3

banking

offices

4

banking

offices

5

banking

offices

6

banking

offices

7 or 8 

banking 

offices

9 to 19 

banking 

offices

20 or 

more 

banking

Members F. R. 

System Not 

members 

F. R.

System

offices

National State

^21 banking officcs^........................ 21,591

716

9,908

714

4,404

2

1,383 668 405 354 365 1,135 2,969 8,597 3,928 8,582 484

In centers with population 

of—

T.pqq than 250® . . . . 42 32 571 71

OKft t-0 1 000 4,726

5,999

4,197

2,097

4,520

3,798

640

200 6 994 472 3,103 157

1 000 to 5 000 2,034

1,998

138

147 20 2,421 872 2,607

1,176

99

5*000 to 25 000 . .. 948 360 140 54 57 2,238 721 62

25 000 to 100 000 . . .. 34 279 280 250 288 249 579 1,106 481 483 27

100 000 to 500,000 ....................... 1,696

1,260

4 10 6 52 556 1,068 833 403 421 39

500 000 to 2 500 000 . . . . 1,260 623 493 130 14

2 500 000 or more • . . . . 641 641 150 426 54 11

Federal Government establishments4 .............. 259 202 32 3 4 5 6 7 190 28 37 4

Unit banks ..................................... 11,667

551

6,597

549

3,215 752 234 128 78 72 229 362 3,921 1,458 5,920 368

In centers with population 

of—

Less than 250 ............ 2 23 25 434 69

250 to 1 000 ............ 3,404

4,214

2,338

585

3,244

2,512

288

159 1 612 335 2,314 143

1 000 to 5 000 .......... 1,616

1,374

64

81 5 1,600 575 1,966 73

5 000 to 25 000 . . . . 510 120 28 12 6 1,215 342 744 37

25 000 to 100 000 . . . . 4 160 108 96 61 40 52 293 82 196 14

100 000 to 500,000 ....................... 351 1 4 5 26 177 138 97 33 200 21

500*000 to 2 500 000 133 133 31 47 48 7

2 500 000 or more • 91 91 50 19 18 4

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
All offices of banks operating

branches............................

In centers with population 

of—

Less than 2 503............................

250 to 1,000................................

1.000 to 5,000.............................

5.000 to 25,000...........................

25.000 to 100,000.......................

100.000 to 500,000.....................

500.000 to 2,500,000..................

2.500.000 or more......................

Federal Government establishments4 ..................................

Head offices of banks operating

branches................................

In centers with population 

of—

Less than 250.............................

250 to 1,000................................

1.000.to 5,000.............................

5.000 to 25,000...........................

25.000 to 100,000.......................

100.000 to 500,000.....................

500.000 to 2,500,000..................

2.500.000 or more......................

Branches........................................

In centers with population 

of—

Less than 2 503............................

250 to 1,000................................

1.000.to 5,000.............................

5.000 to 25,000...........................

25.000 to 100,000.......................

100.000 to 500,000.....................

500.000 to 2,500,000..................

2.500.000 or more......................

Federal Government establishments4 ..................................

9,924

165

1,322

1,785

1,859

1,512

1,345

1,127

550

259

1,934

22

188

407

501

425

255

99

37

7,990

143

1,134

1,378

1,358

1,087

1,090

1,028

513

259

3,311 1,189 631 434 277 276 293 906 2,607

165

1,276

1,286

352

41 5

418 66 15

624 438 240 112 42 51

30 74 119 172 154 227 209 527

3 6 1 26 379 930

1,127

550

202 32 3 4 5 6 7

466 383 193 138 87 85 87 213 282

22

176 11 1

235 145 22 5

31 208 127 75 33 12 15

2 19 43 55 52 72 63 119

3 2 1 9 94 146

99

37

2,845 806 438 296 190 191 206 693 2,325

143

1,100

1,051

321

30 4

273 44 10

416 311 165 79 30 36

28 55 76 117 102 155 146 408

4 17 285 784

1,028

513

202 32 3 4 5 6 7

4,676 2,470 2,662 116

19 7 137 2

382 137 789 14

821 297 641 26

1,023 379 432 25

813 399 287 13

736 370 221 18

592 446 82 7

100 407 36 7

190 28 37 4

720 335 857 22

21 1

18 5 163 2

83 36 287 1

219 72 205 5

230 93 99 3

121 73 56 5

41 38 18 2

8 18 8 3

3,956 2,135 1,805 94

19 7 116 1

364 132 626 12

738 261 354 25

804 307 227 20

583 306 188 10

615 297 165 13

551 408 64 5

92 389 28 4

190 28 37 4

3

d

gw

tel

1 Excludes trust companies not regularly engaged in deposit banking.

2 Includes 5 noninsured branches of insured banks, as follows: 4 branches in Panama Canal Zone, of which 2 are operated by a national bank in New York and 2 by a State bank 

in New York, member of the Federal Reserve System; 1 branch in Mariana Islands operated by a national bank in California.

3 Includes 12 banking offices in centers for which population was not available.

4 Population not available; includes Army, Navy, and Air Force installations, Veterans Administration hospitals, and a few other Federal Government establishments. There are 

248 banking facilities in or near Federal Government establishments, provided at the request of the Treasury Department or Commanding Officer, and 11 other branches in or near 

such establishments. COOFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 105. N u m b e r o f Ope r a t in g B a n k in g Of f ic e s of C o m m e r c ia l B a n k s in M e t r o p o l it a n

A r e a s o f t h e U n it e d St a t e s (C o n t in e n t a l U. S. a n d Ot h e r A r e a s ), J u n e 30, 1957 ^

GROUPED ACCORDING TO TYPE OF OFFICE 00

Population Number of banking offices2 Population 

of metroNumber of banking offices2

Metropolitan area1 politan 

area in 

1950 (in 

thousands)

Total Unit

banks

Banks

operating

branches

Branches3

Metropolitan area1 politan 

area in 

1950 (in 

thousands)

Total Unit

banks

Banks

operating

branches

Branches*

All m etropolitan areas.. 86,518 8,367 2,283 893 5,191 219 29 7 7 15

Shreveport, La............... 217 34 4 7 23

New York, N. Y.4.......... 12,912

5,495

4,368

3,671

3,016

2,370

2,241

2,213

1,681

1,466

1,464

1,337

1,117

1,089

957

1,214

241

111 141 962 South Bend, Ind............ 205 25 6 5 14

218 6 17 York, Pa.......................... 203 43 20 6 17

529 24 18 487 Stockton, Calif............... 201 20 1 2 17

335 72 43 220 Charlotte, N. C.............. 197 35 5 5 25

267 21 24 222 Little Rock, Ark.4.......... 197 10 6 2 2

231 33 29 169 Stamford, Conn.4........... 196 39 4 11 24

San Francisco, Calif.4. . . 325

205

10

58

13 302 Beaumont, Texas4 195 10 10

17 130 El Paso, Texas............... 195 10 4 3 3

St. Louis, M o.................. 101 95 4 2 Evansville, Ind............... 191 18 5 4 9

Cleveland, Ohio.............. 133 4 9 120 Greensboro, N. C.4........ 191 23 3 4 16

Washington, D. C..........

Baltimore, Md................

169 14 36 119 Binghamton, N. Y ......... 185 18 5 2 11

118 10 15 93 Fort Wayne, Ind............ 184 18 5 4 9

Minneapolis ]Minn.4 84 76 2 6 Lansing, Mich................ 173 24 5 5 14

Buffalo, N. Y .................. 125 12 4 109 Columbus, Ga................. 171 19 4 3 12

Milwaukee, Wis............. 63 30 9 24 Madison, Wis................. 169 31 26 2 3

Cincinnati, Ohio............. 904 118 18 13 87 Greenville, S. C.............. 168 18 5 2 11

ICansas City Mo. 814

807

86

50

86 Corpus Christi, Texas... 

Charleston, S. C.............

165 9 7 1 1

Houston, Texas.............. 48 1 1 165 19 1 2 16

Providence, R. I .............

Seattle, Wash..................

737 68 5 6 57 Augusta, Ga.................... 162 21 9 2 10

733 81 7 6 68 Austin, Texas................. 161 8 6 1 1

Portland, Oreg............... 705 69 12 6 51 Baton Rouge, La............ 158 15 2 4 9

Atlanta, Ga.................... 695 62 24 7 31 Waterbury, Conn........... 155 11 3 1 7

New Orleans, La............ 685 47 2 9 36 Saginaw, Mich................ 154 14 6 2 6

T)a11gQ TpYflSl 615

577

34 34 Rockford, 111. 152 8 8

Louisville, K y................. 71 11 10 50 Savannah, Ga................. 151 15 6 2 7

Denver C o lo ................ 564 41 33 4 4 Lorain, Ohio4.................. 148 22 6 6 10

Birmingham, Ala............ 559 28 5 3 20 Hamilton, Ohio4............. 147 19 4 5 10

San Diego, C a lif........... 557 74 1 4 69 New Britain, Conn.4. . .. 147 14 3 4 7

Indianapolis, Ind............ 552 71 3 7 61 Winston Salem, N. C .... 146 16 4 2 10

Youngstown, Ohio . . . 528 51 19 9 23 Albuquerque, N. M ex...

Hampton, Ya.4...............

Columbia, S. C...............

146 15 3 12

Albany, N. Y .4...............

Columbus, Ohio..............

514

503

48

40

5

10

11

6

32

24

143

143

20

15

5

3

5

1

10

11

San Antonio, Texas... .

Miami, Fla......................

Rochester N. Y .... ..

500 21 17 2 2 Jackson, Miss................. 142 21 4 3 14

495 34 30 2 2 Tucson, Ariz................... 141 16 1 15

488 46 2 4 40 Altoona, Pa.................... 140 19 8 4 7

Memphis Tenn.............. 482 42 4 5 33 Montgomery, Ala........... 139 9 2 2 5

San Juan, P. R ............... 466 36 4 32 New Bedford, Mass....... 137 6 1 2 3

Dayton, Ohio.................. 457 41 10 8 23 Fall River, Mass............ 137 6 2 1 3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
San Bernardino, Calif.4. . 452 68 5 2 61

Norfolk, Va.4.................. 446 46 1 7 38

Allentown, Pa.4.............. 438 61 36 9 16

Akron, Ohio.................... 410 20 2 4 14

Tampa, Fla.4.................. 409 29 27 1 1

Springfield, Mass.4......... 407 34 3 8 23

Toledo, Ohio................... 396 30 2 7 21

Wilkes-Barre, Pa.4......... 392 46 27 7 12

Omaha, Nebr.................. 366 36 25 5 6

Fort Worth, Texas........ 361 20 18 1 1

Hartford, Conn............... 358 33 5 5 23

Wheeling, W. Va.4......... 354 47 39 3 5

353 37 5 32

Syracuse, N. Y ............... 342 41 4 5 32

Knoxville, Tenn.............. 337 26 6 5 15

Phoenix, Ariz.................. 332 55 4 51

Richmond, Va................. 328 40 5 6 29

Oklahoma City, Okla.... 325 24 20 2 2

322 19 19

Nashville, Tenn.............. 322 40 4 4 32

Jacksonville, Fla............. 304 14 12 1 1

Harrisburg, Pa................ 292 53 29 8 16

Johnstown, Pa................ 291 43 32 5 6

San Jose, Calif................ 291 55 1 1 53

Grand Rapids, M ich.. .. 288 48 7 5 36

Utica, N. Y .4.................. 284 36 18 4 14

Canton, Ohio.................. 283 29 10 8 11

Sacramento, Calif........... 277 35 2 33

Fresno, Calif................... 277 30 3 27

Worcester, Mass............. 276 17 4 3 10

Tacoma, Wash................ 276 25 5 3 17

Salt Lake City, Utah. . . 275 32 6 5 21

Flint, Mich...................... 271 37 5 4 28

Wilmington, Del............. 268 45 11 5 29

New Haven, Conn......... 265 20 4 5 11

Bridgeport, Conn........... 258 18 4 3 11

Scranton, Pa................... 257 27 18 3 6

Reading, Pa.................... 256 34 15 4 15

Duluth, Minn.4.............. 253 34 34

Tulsa, Okla............... .. 252 18 18

Peoria, 111........................ 251 29 29

Chattanooga, Tenn........ 246 26 2 4 20

246 17 15 1 1

Lancaster, Pa.................. 235 49 24 10 15

Davenport, Iowa4........... 234 23 20 1 2

Mobile, Ala..................... 231 12 4 2 6

230 28 5 7 16

Des Moines, Iowa.......... 226 18 13 2 3

Wichita, Kans................. 222 19 17 1 1

Spokane, Wash............... 222 28 6 2 20

Raleigh, N. C................. 136 27 2 3 22

Lowell, Mass................... 136 7 1 6

135 10 5 1 4

Roanoke, Va................... 133 14 2 3 9

Atlantic City, N. J........ 132 22 5 2 15

Springfield, 111................. 131 14 14

Waco, Texas................... 130 13 12 1

Brockton, Mass.............. 129 12 2 3 7

Ponce, Puerto Rico........ 127 4 2 2

Kalamazoo, Mich........... 127 19 1 4 14

126 13 1 2 10

Asheville, N. C............... 124 17 2 2 13

Portland, Maine............. 120 21 6 15

Lincoln, Nebr................. 120 14 12 1 1

Orlando, Fla................... 115 11 7 2 2

West Palm Beach, F la... 115 15 13 1 1

Galveston, Texas........... 113 10 10

Springfield, Ohio............ 112 14 2 4 8

110 13 9 2 2

Jackson, Mich................ 108 13 3 2 8

Topeka, Kan................... 105 12 10 1 1

Terre Haute, Ind........... 105 7 2 2 3

Springfield, M o............... 105 7 7

Cedar Rapids, Iowa. . . . 104 18 13 3 2

Sioux City, Iowa............ 104 19 13 3 3

Durham, N. C................ 102 19 2 4 13

Lubbock, Texas.............. 101 9 5 2 2

Lexington, Ky................ 101 11 4 2 5

Waterloo, Iowa.............. 100 9 7 1 1

99 10 10

Wichita Falls, Texas... . 98 8 6 1 1

Green Bay, Wis.............. 98 15 13 1 1

Santa Barbara, Calif.. . . 98 15 1 1 13

St. Joseph, Mo............... 97 11 11

Gadsden, Ala.................. 94 7 7

Muncie, Ind.................... 90 12 3 3 6

Pueblo, Colo................... 90 4 4

Bay City, Mich.............. 88 12 3 2 7

Manchester, N. H .......... 88 6 6

88 11 5 2 4

Mayaguez, P. R ............. 87 6 6

Amarillo, Texas.............. 87 6 4 1 1

Ogden, Utah................... 83 9 1 3 5

Kenosha, Wis................. 75 4 4

Dubuque, Iowa.............. 71 11 10 1

Sioux Falls, S. Dak........ 71 15 7 4 4

Pittsfield, Mass.............. 67 6 4 1 1

Fort Smith, Ark............. 64 8 4 2 2

San Angelo, Texas......... 59 3 3

Laredo, Texas................ 56 2 2

1 Includes all areas defined and listed as “ standard metropolitan areas” by the Executive Office of the President, Bureau of the Budget, January 15,1957. Each standard metropolitan 

area consists of an entire county or group of contiguous counties (except in New England where areas follow town lines), in one or more States, which contains at least one city of

50,000 or more inhabitants. The concept is one of an integrated economic unit, essentially metropolitan in character.

2 Excludes trust companies not regularly engaged in deposit banking.

• Includes 149 facilities, and 2 other branches, operated in or near military or other Federal Government establishments.

4 Title incomplete. The full title of a standard metropolitan area may include the names of up to three cities, e.g. Davenport, Iowa—Rock Island—Moline, Illinois.

OFFICES, AND DEPOSITS OF OPERATING B A N K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 106. N u m b e r an d D e p o s its o f O p e r a tin g B a n k s in th e U n ite d S t a t e s (C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31, 1957

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND BY DISTRICT AND STATE

Number of banks

FDIC District

Commercial and stock savings 

banks and nondeposit 

trust companies

Mutual savings banks

and State All Noninsured

banks1

Total Insured Banks 

of depost1

Nondeposit

trust

companies

Total Insured

Noninsured

Total United 

States.................. 14,130 13,607

13,566

13,165

13,140

386 56 523 239 284

Continental U. S .. 14,088 375 51 522 239 283

42 41 25 11 5 1 1

FDIC District 

District 1................. 796 458 423 32 3 338 58 280

District 22................ 924 770 752 11 7 154 152 2

District 3 ................. 1,392 1,382 1,368

1,000

1,049

1,463

1,396

1,557

1,109

1,523

1,170

355

11 3 10 10

District 4 ................. 1,021 1,014

1,116

1,507

1,413

1,609

1,124

1,631

14 7 6 1

District 5 ............... 1,116 64 3

District 6 ............... 1,507

1,421

36 8

District 7................. 11 6 8 7 1

District 8 ............... 1,609 48 4

District 9 ................. 1,125

1,631

13 2 1 1

District 10 ............ 101 7

District 11 ............ 1,200

388

1,200

383

29 1

District 123.............. 16 12 5 5

State 

Alabama ................ 239 239 239

Arizona .................. 7 7 6 1

Arkansas 237 237 232 4 1

California................ 128 128 122 6

Colorado .............. 175 175 157 18

Connecticut............. 158 87 77 9 1 71 5 66

Delaware................. 29 27 26 1 2 1 1

District of Columbia 16 16 16

Florida . . . . 270 270 265 2 3

Georgia .. . 412 412 353 59

Idaho .......... 28 28 28

Illinois .......... 939 939 933 3 3

Indiana ........ 468 464 457 6 1 4 4

Iowa......................... 670 670 624 45 1

Kansas .......... 595 595 552 43

O

Deposits (in thousands of dollars) o

All

banks

Commercial and stock savings 

banks and nondeposit 

trust companies

Total Insured Noninsured

Mutual savings banks

Total Insured Noninsured

234,178,092

233,000,860

1,177,232

17,748,354

66,709,548

25,383,255

11,564,609

9,440,726

11,601,852

16,274,988

18,820,604

6,110,530

7,967,589

14,679,101

27,876,936

1,776,322

906,823

1,064,813

20,777,836

1,701,785

4,356,669

766.485 

1,403,334 

4,076,806 

2,506,764

572.486 

15,964,816

4,346,378

2,855,788

2,078,051

202,483,366

201,306,324

1,177,042

9,325,288

46,745,515

23,332,971

11,024,020

9,440,726

11,601,852

16,198,178

18,820,604

5,836,513

7,967,589

14,679,101

27,511,009

1,776,322

906,823

1,064,813

20,777,836

1,701,785

2,253,508

634,545

1,403,334

4,076,806

2,506,764

572,486

15,964,816

4,290,844

2,855,788

2,078,051

200,485,251

199,856,939

628,312

9,104,263

46,203,174

23,287,921

10,885,267

9,406,525

11,560,282

16,172,852

18,703,058

5,703,413

7,894,326

14,598,819

26,965,351

1,776,322

902,374

1,062,492

20,777,783

1,694,086

2,222,395

628,854

1,403,334

4,066,111

2,491,933

572,486

15,931,466

4,284,776

2,771,592

2,045,698

1,998,115

1,449,385

548,730

221,025

542,341

45,050

138,753

34,201

41,570

25,326

117,546

133,100

73,263

80,282

545,658

31,694,726

31,694,536

190

8,423,066

19,964,033

2,050,284

540,589

25.022.121

25.022.121

1,860,939

19,859,273

2,050,284

535,525

6,672,605

6,672,415

190

1,562,127

104,760

76,810

274,017

76,156 654

365,927

274,017

365,927'

4,449

2,321

53

7,699

31,113

5,691

2,103,161

131,940

121,110

27,370

1,982,051

104,570

10,695

14,831

33,350

6,068

84,196

32,353

55,534 55,534

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.........

Louisiana.........

Maine...............

Maryland........

Massachusetts.

Michigan... 

Minnesota.. 

Mississippi. 

Missouri. . . 

Montana. ..

Nebraska...........

Nevada..............

New Hampshire.

New Jersey........

New Mexico. . . .

New York..........

North Carolina. 

North Dakota. .

Ohio...................

Oklahoma..........

Oregon.............

Pennsylvania. . , 

Rhode Island. . 

South Carolina. 

South Dakota..

Tennessee.

Texas........

Utah.........

Vermont. . 

Virginia. ..

Washington. .. 

West Virginia. 

Wisconsin. . . . 

Wyoming.......

Other area

Alaska....................

American Samoa. .

Hawaii...................

Mariana Islands4. . 

Panama Canal Zone4

Puerto Rico4........

Virgin Islands----

364 364 351

182 182 181

89 57 51

155 148 147

357 171 166

398 398 393

684 683 673

195 195 192

608 608 589

115 115 114

421 421 382

6 6 6

108 74 63

294 271 268

52 52 52

588 460 449

210 210 209

154 154 150

614 611 610

387 387 379

56 55 53

778 771 758

18 10 8

144 144 137

172 172 172

298 298 291

959 959 931

49 49 44

66 59 58

313 313 312

92 88 86

183 183 179

555 551 546

53 53 53

18 18 13

1 1

10 10 3

10 10 7

3 2 2

11

32

7

186

128

12

23

128

11

1

180

22

2,147,688

2,775,549

941,203

2,719,922

9,942,977

7,916,264

4,023,958

1,080,834

5,593,493

756,566

1,454,848

331,285

811,989

7,471,646

595,767

58,017,993

2,457,050

701,153

10,588,593

2,369,372

1,810,862

14,794,662

1,236,930

878,112

628,853

2,795,858

10,400,962

841,984

458,586

2,915,523

2,818,675

1,190,668

4,012,346

363,533

162,024

1,725

517,587

21,028

21,444

433,490

19,934

2,147,688

2,775,549

588,725

2,179,333

4,970,024

7,916,264

3,749,941

1,080,834

5,593,493

756,566

1,454,848

331,285

361,699

6,291,403

595,767

39,366,333

2,457,050

701,153

10,272,429

2,369,372

1,773,777

13,060,542

818,140

878,112

628,853

2,795,858

10,400,962

841,984

333,192

2,915,523

2,489,833

1,190,668

3,991,070

363,533

162,024

1,725

517,587

21,028

21,444

433,490

19,744

2,135,847

2,774,807

553,920

2,083,324

4,881,102

7,901,487

3,739,310

1,072,159

5,572,727

756,566

1.426.286 

331,285 

321,109

6,291,380

595,767

38,872,500

2,433,973

578,684

10,270,442

2,364,723

1,763,964

13,017,479

792,545

873,877

628,853

2,789,216

10,325,871

839,557

333,192

2,913,473

2,462,404

1.177.286 

3,986,589

363,533

141,672

' *55,980

20,220

390,696

19,744

11,841

742

34,805

96,009

88,922

14,777

10,631

8,675

20,766

352,478

540,589

4,972,953

257,916

535,525

708,665

94,562

5,064

4,264,288

274,017 274,017

28,562

40,590

23

450,290

1,180,243

259,839

1,180,243

190,451

493,833

23,077

122,469

1,987

4,649

9,813

43,063

25,595

4,235

18,651,660 18,651,660

316,164 316,164

37,085

1,734,120

418,790

37,085

1,734,120

388,015 30,775

6,642

75,091

2,427

125,394 125,394

2,050

27,429

13,382

4,481

328,842 328,842

21,276 20,622 654

20,352

1,725

461,607

808

21,444

42,794

190 190

1 Includes 27 noninsured banks of deposit (5 in Colorado, 16 in Georgia, 2 in Iowa, and 4 in Texas) for which deposits are not available.

2 Includes Puerto Rico and the Virgin Islands.

8 Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone.

4 Includes deposit data for the following branches of insured banks in continental United States; 2 insured branches and 1 noninsured branch in the Mariana Islands (2 insured 

in Guam and 1 noninsured in Saipan); 4 noninsured branches in the Panama Canal Zone; and 12 insured branches in Puerto Rico. Data for these branches are not included in the 

figures for the States in which the parent banks are located.

Back figures: See the Annual Report for 1956, pp. 100-101, and earlier reports.

NUM BER. OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
A ssets and Liab ilities of Operating Ba n k s

Table 107.

Table 108.

Table 109.

Table 110. 

Table 111.

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

and other areas), June 6, 1957 

Banks grouped according to insurance status and type of bank

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

and other areas), December 31, 1957 

Banks grouped according to insurance status and type of bank

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

and other areas), December 31, 1957 

Banks grouped by district and State

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

U. S. and other areas), December 31, 1957, June 6, 1957, and December 31, 1956

Distribution of insured commercial banks operating in the United States (continental U. S. and other areas), December 31, 1957

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

The data in these tables relate to banks operating in the United 

States (continental U. S. and other areas). Data from the same tabulations for all operating banks in each State and other area are also 

shown in the Corporation’s publication, “Assets, Liabilities, and 

Capital Accounts, Commercial and Mutual Savings Banks,” as follows:

For June 6, 1957 Report No. 47, pp. 4-5.

For December 31, 1957 Report No. 48, pp. 4-5.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Statements of assets and liabilities are submitted by insured commercial banks upon either a cash or an accrual basis, depending upon 

the bank’s method of bookkeeping. Assets reported represent aggregate 

book value, on the date of call, less valuation and premium reserves.

Assets and liabilities held in or administered by a savings, bond, 

insurance, real estate, foreign, or any other department of a bank, 

except a trust department, are consolidated with the respective assets 

and liabilities of the commercial department. “Deposits of individuals, 

partnerships, and corporations” include trust funds deposited by a trust 

department in a commercial or savings department. Other assets held 

in trust are not included in statements of assets and liabilities.

In the case of banks with one or more domestic branches, the assets 

and liabilities reported are consolidations of figures for the head office 

and all domestic branches. In the case of a bank with foreign branches, 

net amounts due from its own foreign branches are included in “ Other 

assets,” and net amounts due to its own foreign branches are included 

in “ Other liabilities.” Branches outside the continental United States 

of insured banks in the United States are treated as separate entities 

but as in the case of other branches are not included in the count of 

banks. Data for such branches are not included in the figures for the 

States in which the parent banks are located.

Demand balances with and demand deposits due to banks in the 

United States, except private banks and American branches of foreign 

banks, exclude reciprocal interbank deposits. Reciprocal interbank 

deposits arise when two banks maintain deposit accounts with each 

other.

Individual loan items are reported gross instead of net of valuation 

reserves. Accordingly, reserves for losses on loans are shown separately.

Instalment loans are ordinarily reported net if the instalment payments are applied directly to the reduction of the loan. Such loans are 

reported gross if, under contract, the payments do not immediately 

reduce the unpaid balances of the loan but are assigned or pledged to 

assure repayment at maturity.

Total deposits shown in these tables are not the same as the deposits 

upon which assessments paid to the Federal Deposit Insurance Corporation are based. The assessment base is slightly lower due to certain 

exclusions wiiich are permitted and deductions wThich may be claimed.

Asset and liability data for noninsured banks are tabulated from 

reports pertaining to the individual banks. In a few cases these reports 

are not as detailed as those submitted by insured banks, and some of 

the items reported have been allocated to more detailed categories 

according to the distribution of asset and liability data for insured 

State banks not members of the Federal Reserve System or for other 

noninsured banks.

Sources o f d ata

National banks and State banks in the District of Columbia not 

members of the Federal Reserve System: Office of the Comptroller of 

the Currency.

State banks members of the Federal Reserve System: Board of 

Governors of the Federal Reserve System.

Other insured banks: Federal Deposit Insurance Corporation.

Noninsured banks: State banking authorities; and reports from 

individual banks.

o

GOASSETS AND LIABILITIES OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 107. A ssets a n d L ia b il it ie s o f O p e r a t in g B a n k s in th e U n ite d St a t e s (C o n t in e n t a l U . S. an d Ot h e r A r e a s ), J u n e 6, 19571

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK 

(Amounts in thousands of dollars) O

Asset, liability, or capital account item

All banks

Total Insured Noninsured

Commercial and stock savings banks and 

nondeposit trust companies

Total Insured

Noninsured

Banks

of

deposit

Nondeposit

trust

companies2

Mutual savings banks

Total Insured Noninsured

Total assets..........................................................

Gash, balances with other banks, and cash 

collection items—total.............................

Currency and coin.............................................

Reserve with F. R. banks (member banks). .

Demand balances with banks in U. S............

Other balances with banks in U. S................

Balances with banks in foreign countries... . 

Cash items in process of collection..............

Securities—total.................................................

U. S. Gov’t, obligations (incl. guaranteed).. .

Obligations of States and subdivisions..........

Other bonds, notes, and debentures..............

Corporate stocks................................................

Loans and discounts, net—tota l................

Valuation reserves.................................................

Loans and discounts, gross—tota l..............

Real estate loans—total..................................

Secured by farm land......................................

Secured by residential properties:

Insured by F H A .........................................

Insured or guaranteed by V A ....................

Not insured or guaranteed by FHA or V A .

Secured by other properties............................

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

Loans to brokers and dealers in securities. ..

Other loans for carrying securities................

Loans to farmers directly guaranteed by the

Commodity Credit Corporation..................

Other loans to farmers (excl. real estate). . . .

Commercial and industrial loans....................

Other loans to individuals................................

All other loans (including overdrafts)............

Miscellaneous assets—tota l............................

Bank premises owned, furniture and fixtures.

Other real estate—direct and indirect............

All other miscellaneous assets........................

243,855,745 233,423,253 10,432,492 209,601,305 207,182,172 2,231,451 187,682 34,254,440 26,241,081 8,013,359

41,013,712

2,897,604

18,501,464

10,322,066

225,372

77,463

8,989,743

40,469,847

2,827,682

18,501,464

9,901,069

220,082

73,555

8,945,995

543,865

69,922

420,997

5,290

3,908

43,748

40,174,714

2,790,970

18,499,980

9,792,760

56,690

77,463

8,956,851

39,797,636

2,748,128

18,499,980

9,496,275

53,095

73,555

8,926,603

343,026

41,366

266,964

3,595

3,059

28,042

34,052

1,476

29,521

' ” ' 849 

2,206

838,998

106,634

1,484

529,306

168,682

' 32,892

672,211

79,554

1,484

404,794

166,987

* 19,392

166,787

27,080

*124,512

1,695

’ 13,500 ’

86,313,964

64,801,247

14,067,344

6,209,203

1,236,170

81,572,051

61,577,678

13,716,715

5,450,509

827,149

4,741,913

3,223,569

350,629

758,694

409,021

73,850,550

56,895,199

13,387,782

3,071,312

496,257

72,614,662

56,072,314

13,139,189

2,954,685

448,474

1,126,452

771,591

218,946

114,319

21,596

109,436

51,294

29,647

2,308

26,187

12,463,414

7,906,048

679,562

3,137,891

739,913

8,957,389

5,505,364

577,526

2,495,824

378,675

3,506,025

2,400,684

102,036

642,067

361,238

112,122,332

1,866,670

113,989,002

43,117,936

1,1*23,693

9,209,714

11,228,061

14,7^8,959

6,507,509

1,006,828 

2,274,656 

1,678,092

415,285

3,680,811

39,332,452

19,825,347

2,657,595

107,141,196

1,837,742 

108,978,938

38,699,609 

1,391,295

8,736,571

9,897,674

12,616,957

6,057,112

1,001,471

2,251,415

1,634,747

406,120

3,636,405

39,092,689

19,628,587

2,627,895

4,981,136

28,928

5,010,064

4,418,327

473,143

1,330,387

2,132,002

450,397

5,357

23,241

43,345

9,165

44,406

239,763

196,760

29,700

91,635,163

1,643,954

93,279,117

22,736,113

1,365,678

4,729,696

3,741,787

8,414,469

4,484,483

1,006,828

2,274,656

1,654,071

415,285

3,679,163

39,270,868

19,605,377

2,636,756

90,913,421

1,640,336

92,553,757

22,512,528

1,347,741

4,681,569

3,708,318

8,337,738

4,437,162

1,001,471 

2,251,415 

1,613,991

406,120

3,634,862

39,035,193

19,487,856

2,610,321

698,424

3,564

701,988

210,904

17,187

31,472

71,269

U,884

5,357 

20,991 

35,481

9,165

44,134

234,884

116,740

24,332

23,318

54

23,372

12,681

750

2,035

1,997

5,462

2,437

20,487,169

222,716

20,709,885

20,381,823

58,015

4,480,018

7,486,274

6,334,490

2,023,026

16,227,775

197,406

16,425,181

16,187,081

43,554

4,055,002

6,189,356

4,279,219

1,619,950

4,259,394

25,310

4,284,704

4,194,742

14,461

425,016

1,296,918

2,055,271

403,076

2,250

4,599 24,021 20,756 3,265

167

791

781

2,103

1,648

61,584

219,970

20,839

1,543

57,496

140,731

17,574

105

4,088

79,239

3,265

4,405,737

2,222,798

212,580

1,970,359

4,240,159

2,154,855

197,402

1,887,902

165,578

67,943

15,178

82,457

3,940,878

2,019,684

205,046

1,716,148

3,856,453

1,998,322

193,248

1,664,883

63,549

14,575

4,529

44,445

20,876

6,787

7,269

6,820

464,859

203,114

7,534

254,211

383,706

156,533

4,154

223,019

81,153

46,581

3,380

31,192

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Total liabilities and capital accoun ts.......

Business and personal deposits—tota l........

Deposits of individuals, partnerships, and

corporations—demand..................................

Deposits of individuals, partnerships, and

corporations—time........................................

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, 

and amounts due to Federal Reserve banks.

Government deposits—total...........................

United States Government—demand.............

United States Government—time...................

States and subdivisions—demand...................

States and subdivisions—time.........................

Interbank and postal savings deposits— 

tota l................................................................

Banks in the United States—demand............

Banks in the United States—time..................

Banks in foreign countries—demand............

Banks in foreign countries—time..................

Postal savings....................................................

243,855,745 233,423,253 10,432,492 209,601,305 207,182,172 2,231,451 187,682 34,254,440 26,241,081 8,013,359

186,347,769

101,595,535

81,879,976

2,872,258

177,936,090

100,716,688

74,374,521

2,844,881

8,411,679

878,847

7,505,455

27,377

155,686,881

101,575,470

51,243,561

2,867,850

154,372,637

100,696,640

50,835,128

2,840,869

1,250,969

818,782

405,219

26,968

63,275

60,048

3,214

13

30,660,888

20,065

30,636,415

4,408

23,563,453

20,048

23,539,393

4,012

7,097,435

17

7,097,022

396

17,207,657

3,398,327

317,258

10,704,340

2,787,732

16,914,421

3,348,526

316,977

10,552,349

2,696,569

293,236

49,801

281

151,991

91,163

17,192,312

3.395.952 

317,245

10,702,162

2.776.953

16,901,469

3,346,927

316,965

10,550,171

2,687,406

290,843

49,025

280

151,991

89,547

15,345

2,375

13

2,178

10,779

12,952

1,599

12

2,178

9,163

2,393

776

1

1,616

14,470,057

11,262,876

232,898

1,620,265

1,326,892

27,126

14,132,712

11,133,847

66,076

1,581,411

1,324,892

26,486

337,345

129,029

166,822

38,854

2,000

640

14,468,310

11,262,534

231,493

1,620,265

1,326,892

27,126

14,131,010

11,133,505

64,716

1,581,411

1,324,892

26,486

336,900

128,630

166,777

38,853

2,000

640

400

399

1

1,747

342

1,405

1,702

342

1,360

45

45

Total deposits..............................................

Demand.......................................................

Time............................................................

Miscellaneous liabilities—total.....................

Rediscounts and other borrowed money........

All other miscellaneous liabilities..................

Total liabilities (excluding capital 

accoun ts)...................................................

Capital accounts— to ta l...................................

Preferred capital................................................

Common stock...................................................

218,025,483

131,1+53,601

86,571,882

208,983,223

130,177,702

78,805,521

9,042,260

1,275,899

7,766,361

187,347,503

131,1+21+,233

55,923,270

185,405,116

180,11+9,523

55,255,593

1,878,712

1,211+,21+9

661+,l+63

63,675

60,1+61

3,211+

30,677,980

29,368

30,61+8,612

23,578,107

28,179

23,51+9,928

7,099,873

1,189

7,098,681+

5,847,528

1,468,973

4,378,555

5,642,339

1,437,128

4,205,211

205,189

31,845

173,344

5,313,095

1,464,921

3,848,174

5,219,452

1,436,879

3,782,573

79,517

26,456

53,061

14,126

1,586

12,540

534,433

4,052

530,381

422,887

249

422,638

111,546

3,803

107,743

223,873,011 214,625,562 9,247,449 192,660,598 190,624,568 1,958,229 77,801 31,212,413 24,000,994 7,211,419

19,982,734

67,893

5,070,861

10,083,022

4,760,958

18,797,691

46,520

4,957,984

9,506,672

4,286,515

1,185,043

21,373

112,877

576,350

474,443

16,940,707

67,893

5,070,861

7,985,944

3,816,009

16,557,604

46,520

4,957,984

7,859,442

3,693,658

273,222

21,373

77,222

90,463

84,164

109,881

35,655

36,039

38,187

3,042,027

(3)

2,240,087

(3)

801,940

Surplus................................................................

Undivided profits and reserves........................

2,097,078

944,949

1,647,230

592,857

449,848

352,092

Number of banks4...................................................... 14,184 13,445 739 13,658 13,211 391 56 526 234 292

1 Data are as of June 29, 1957, for some noninsured banks.

2 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

8 Not reported separately. Included with “ Undivided profits and reserves.”

4 Includes 18 noninsured banks of deposit for which asset and liability data are not available. |....

Back figures: See the Annual Report for 1956, pp. 104-105, and earlier reports. O

Oi ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. A s s e t s a n d L i a b il i t ie s o f O p e r a tin g B a n k s in t h e U n ite d S t a t e s (C o n t in e n t a l U. S. a n d O t h e r A r e a s ), D e c e m b e r 31, 1957

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars)

Asset, liability, or capital account item

All banks

Total Insured Noninsured

Commercial and stock savings banks and 

nondeposit trust companies

Total Insured

Noninsured

Banks

of

deposit

Nondeposit

trust

companies1

Mutual savings banks

Total Insured Noninsured

Total assets..........................................................

Cash, balances with other banks, and cash 

collection items—total.............................

Currency and coin.............................................

Reserve with F. R. banks (member banks)..

Demand balances with banks in U . S..............

Other balances with banks in U . S...................

Balances with banks In foreign countries. . . . 

Cash items in process of collection..............

Securities—tota l.................................................

U. S. Gov’t, obligations (incl. guaranteed). ..

Obligations of States and subdivisions..........

Other bonds, notes, and debentures..............

Corporate stocks................................................

Loans and discounts, net—tota l................

Valuation reserves.................................................

Loans and discounts, gross— total..............

Real estate loans—total..................................

Secured by farm land......................................

Secured by residential 'properties:

Insured by F H A .........................................

Insured or guaranteed by V A ....................

Not insured or guaranteed by FHA or V A .

Secured by other properties.............................

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

Loans to brokers and dealers in securities. ..

Other loans for carrying securities................

Loans to farmers directly guaranteed by the

Commodity Credit Corporation..................

Other loans to farmers (excl. real estate). . . .

Commercial and industrial loans....................

Other loans to individuals................................

All other loans (including overdrafts)............

Miscellaneous assets—total............................

Bank premises owned, furniture and fixtures.

Other real estate—direct and indirect............

All other miscellaneous assets........................

259,187,519 249,205,004 9,982,515 224,019,659 221,534,082 2,300,197 185,380 35,167,860 27,670,922 7,496,938

49,539,004

3,532,901

18,973,317

12,978,357

171,093

79,611

13,803,725

48,937,530

3,453,082

18,973,317

12,531,337

167,984

77,754

13,734,056

601,474

79,819

’ 447,020 

3,109 

1,857 

69,669

48,649,389

3,393,174

18,971,893

12,393,194

46,445

79,611

13,765,072

48,218,664

3,345,502

18,971,893

12,072,336

44,247

77,754

13,706,932

397,838

46,650

' 292,289 

1,178 

1,849 

55,872

32,887

1,022

28,569

1,020

8

2,268

889,615

139,727

1,424

585,163

124,648

' 38,653

718,866

107,580

1,424

459,001

123,737

' *27,124

170,749

32,147

126,162

911

‘ 11,529

89,117,937

66,066,124

14,669,460

7,091,951

1,290,402

84,670,998

63,090,397

14,316,219

6,370,336

894,046

4,446,939

2,975,727

353,241

721,615

396,356

76,552,604

58,513,829

13,987,885

3,527,987

522,903

75,329,686

57,686,105

13,732,692

3,434,684

476,205

1,116,325

778,482

225,434

91,207

21,202

106,593

49,242

29,759

2,096

25,496

12,565,333

7,552,295

681,575

3,563,964

767,499

9,341,312

5,404,292

583,527

2,935,652

417,841

3,224,021

2,148,003

98,048

628,312

349,658

115,759,782

2,000,196

117,759,978

44,505,882 

1 ,1+21+,528

9,1+91,973

11,879,281

15,285,658

6,92U,U7

730,649

2,601,012

1,648,896

462,601

3,624,001

40,825,215

20,511,661

2,850,061

110,995,104

1,974,714

112,969,818

40,314,470

1,391,938

9,015,983

10,11+1+,186

13,259,1+38

6,502,925

728,404 

2,568,942 

1,607,903

455,479

3,576,225

40,591,601

20,307,864

2,818,930

4,764,678

25,482

4,790,160

4,191,412

32,590

1+75,990

1,235,095

2,026,215

1+21,522

2,245 

32,070 

40,993

7,122

47,776

233,614

203,797

31,131

94,543,272

1,780,042

96,323,314

23,336,962

1,367,278

k,823,1+08

3,588,879

8,731+,837

1+,822,560

730,649 

2,601,012 

1,640,665

462,601

3,622,359

40,775,367

20,330,426

2,823,273

93,801,010

1,776,004

95,577,014

23,104,149

1,31+8,615

k,777,210

3,557,81+1

8,651+,696

1+,765,787

728,404 

2,568,942 

1,602,259

455,479

3,574,669

40,545,528

20,199,777

2,797,807

719,124

3,980

723,104

220,345

17,888

1+3,738

29,991

71+,388

51+,31+0

2,245 

29,820 

34,039

7,122

47,539

228,636

129,694

23,664

23,138

58

23,196

12,468

775

2,1+60

1,01+7

5,753

2,1+33

21,216,510

220,154

21,436,664

21,168,920

57,250

k,668,565

7,790,1+02

6,550,816

2,101,887

17,194,094

198,710

17,392,804

17,210,321

1+3,323

k,238,773

6,586,31+5

J+,601+,71+2

1,737,138

4,022,416

21,444

4,043,860

3,958,599

13,927

1+29,792

1,201+,057

1,91+6,071+

361+, 71+9

2,250

4,367 8,231 5,644 2,587

151

1,203

955

1,802

1,642

49,848

181,235

26,788

1,556

46,073

108,087

21,123

3,775

73,148

5,665

4,770,796

2,330,442

237,805

2,202,549

4,601,372

2,263,138

222,731

2,115,503

169,424

67,304

15,074

87,046

4,274,394

2,118,008

231,463

1,924,923

4,184,722

2,095,927

219,461

1,869,334

66,910

15,049

4,391

47,470

22,762

7,032

7,611

8,119

496,402

212,434

6,342

277,626

416,650

167,211

3,270

246,169

79,752

45,223

3,072

31,457

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Total liabilities and capital accounts..............

Business and personal deposits—total........

Deposits of individuals, partnerships, and

corporations—demand..................................

Deposits of individuals, partnerships, and

corporations—time........................................

Certified and officers’ checks, cash letters of 

credit and travelers’ checks outstanding, 

and amounts due to Federal Reserve banks.

Government deposits—total...........................

United States Government—demand.............

United States Government—time...................

States and subdivisions—demand...................

States and subdivisions—time.........................

Interbank and postal savings deposits— 

total................................................................

Banks in the United States—demand............

Banks in the United States—time..................

Banks in foreign countries—demand............

Banks in foreign countries—time..................

Postal savings....................................................

259,187,519 249,205,004 9,982,515 224,019,659 221,534,082 2,300,197 185,380 35,167,860 27,670,922 7,496,938

199,183,144

110,139,208

85,402,700

3,641,236

191,123,086

109,203,083

78,307,102

3,612,901

8,060,058

936,125

7,095,598

28,335

167,506,807

110,122,060

53,750,816

3,633,931

166,116,840

109,185,975

53,324,826

3,606,039

1,328,301

877,588

422,863

27,850

61,666

58,497

3,127

42

31,676,337

17,148

31,651,884

7,305

25,006,246

17,108

24,982,276

6,862

6,670,091

40

6,669,608

443

17,922,632

3,973,757

293,966

10,797,512

2,857,397

17,595,509

3,892,635

292,085

10,651,449

2,759,340

327,123

81,122

1,881

146,063

98,057

17,905,945

3,969,554

293,952

10,795,577

2,846,862

17,581,288

3,889,322

292,073

10,649,514

2,750,379

324,657

80,232

1,879

146,063

96,483

16,687

4,203

14

1,935

10,535

14,221

3,313

12

1,935

8,961

2,466

890

2

1,574

17,072,316

13,886,169

163,968

1,771,930

1,225,208

25,041

16,788,777

13,760,062

45,435

1,736,876

1,221,883

24,521

283,539

126,107

118,533

35,054

3,325

520

17,070,614

13,885,826

162,609

1,771,930

1,225,208

25,041

16,787,123

13,759,719

44,124

1,736,876

1,221,883

24,521

283,090

125,707

118,485

35,053

3,325

520

401

400

1

1,702

343

1,359

1,654

343

1,311

48

48

Total deposits..............................................

Demand.......................................................

Time............................................................

Miscellaneous liabilities—total......................

Rediscounts and other borrowed money........

All other miscellaneous liabilities..................

Total liabilities (excluding capital

accounts)..................................................

Capital accounts—total...................................

Preferred capital................................................

Common stock...................................................

234,178,092

144,209,812

89,968,280

225,507,372

142,857,006

82,650,366

8,670,720

1,352,806

7,317,91U

202,483,366

144,178,878

58,304,488

200,485,251

142,827,445

57,657,806

1,936,048

1,292,4.93

643,555

62,067

58,940

3,127

31,694,726

30,934

31,663,792

25,022,121

29,561

24,992,560

6,672,605

1,373

6,671,232

4,473,007

97,990

4,375,017

4,303,190

70,545

4,232,645

169,817

27,445

142,372

4,059,313

94,778

3,964,535

3,962,962

68,483

3,894,479

83,953

24,974

58,979

12,398

1,321

11,077

413,694

3,212

410,482

340,228

2,062

338,166

73,466

1,150

72,316

238,651,099 229,810,562 8,840,537 206,542,679 204,448,213 2,020,001 74,465 32,108,420 25,362,349 6,746,071

20,536,420

67,115

5,241,025

10,546,444

4,681,836

19,394,442

45,742

5,123,587

9,984,995

4,240,118

1,141,978

21,373

117,438

561,449

441,718

17,476,980

67,115

5,241,025

8,374,248

3,794,592

17,085,869

45,742

5,123,587

8,241,544

3,674,996

280,196

21,373

81,329

95,389

82,105

110,915

36,109

37,315

37,491

3,059,440

(2)

2,308,573

(2)

750,867

Surplus................................................................

Undivided profits and reserves........................

2,172,196

887,244

1,743,451

565,122

428,745

322,122

Number of banks8...................................................... 14,130 13,404 726 13,607 13,165 386 56 523 239 284

1 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

2 Not reported separately. Included with “ Undivided profits and reserves.”

3 Includes 27 noninsured banks of deposit for which asset and liability data are not available.

Back figures, 1934-1956: See the preceding table and the Annual Report for 1956, pp. 106-107, and earlier reports. i—l

OASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 109. A ss e t s a n d L ia b il it ie s o f O p e r a t in g B a n k s in t h e U n it e d S t a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), D e c e m b e r 31, 1957

BANKS GROUPED BY DISTRICT AND STATE

(Amounts in thousands of dollars)

O

00

FDIC District 

and State

Total United States. 

Continental U. S .. 

Other areas.............

FDIC District

District 1...................

District 25..................

District 3 ...................

District 4 ...................

District 5...................

District 6...................

District 7...................

District 8...................

District 9 ...................

District 10.................

District 11.................

District 126................

State

Alabama....................

Arizona......................

Arkansas....................

California..................

Colorado....................

Connecticut..............

Delaware...................

District of Columbia

Florida.......................

Georgia......................

Idaho.........................

Illinois.......................

Indiana......................

Iowa...........................

Kansas.......................

Number of 

banks1

14,130

14,088

42

796

924

1,392

1,021

1,116

1,507

1,421

1,609

1,125

1,631

1,200

239

7

237

128

175

158

29

16

270

412

28

939

468

670

595

Assets

Cash and 

due from 

banks

49,539,004

49,314,211

224,793

2,327,348

12,719,021

5,203,113

2,697,951

2,503,328

3,211,817

3,321,989

4,244,590

1.292.938 

2,129,390 

4,398,581

5.488.938

459,694

183,090

301,862

4,036,396

455,919

540,775

128,976

338,247

1,077,515

693,020

106,749

3,646,335

974,797

598,255

493,237

U. S. Government 

obligations

66,066,124

65,782,404

283,720

5,204,803

15,047,596

7,368,138

3,649,498

2,893,364

3,481,115

6,013,993

6,499,425

1,953,753

2,582,658

3,863,677

7,508,104

516,868

199,767

320,404

5,400,130

532,955

1,247,113

242,368

452,578

1,389,431

686,703

209,754

5,554,559

1,724,765

944,866

716,022

Other

securities

23,051,813

22,942,473

109,340

2,074,724

6,736,201

2,960,546

1,123,023

904,558

989,047

1,383,580

1,825,309

697,513

758,705

1,161,153

2,437,454

218,387

61.679 

143,901

1,771,164

91.679

637,734

132,771

62,061

328,723

180,370

35,077

1,527,295

291,845

298,014

275,438

Loans, discounts, and 

overdrafts

115,759,782

115,107,862

651,920

9,982,406

38,901,965

12,175,318

5,040,884

3,821,286

4,874,536

6,753,466

7,795,291

2,636,784

3,158,955

6,241,951

14,376,940

726,013

515,842

387,045

11,021,005

753,914

2,327,801

343,536

650,210

1,528,588

1,161,627

253,433

6,537,464

1,683,870

1,257,827

767,757

Miscellaneous

assets

4,770,796

4,696,475

74,321

297.735 

1,846,107

411,457

236.736 

181,168 

146,904 

221,983 

184,315

80,645

98,005

366,711

699,030

28,255

33,780

13,844

533,724

21,812

72,122

13,413

29,359

86,174

47,697

8,860

160,439

52,457

23,876

21,474

Total

259,187,519

257,843,425

1,344,094

19,887,016

75,250,890

28,118,572

12,748,092

10,303,704

12,703,419

17,695,011

20,548,930

6,661,633

8,727,713

16,032,073

30,510,466

1,949,217

994,158

1,167,056

22,762,419

1,856,279

4,825,545

861,064

1,532,455

4,410,431

2,769,417

613,873

17,426,092

4,727,734

3,122,838

2,273,928

Liabilities and capital accounts

Deposits

Business

and

personal2

Government3Interbank4

Miscellaneous

liabilities

Total

capital

accounts

199,183,144 17,922,632 17,072,316 4,473,007 20,536,420

198,302,422 17,651,769 17,046,669 4,415,840 20,426,725

880,722 270,863 25,647 57,167 109,695

16,437,718

57,538,646

22,520,621

9,725,828

7,449,304

9,097,295

14,305,688

15,671,212

5,034,421

6,320,047

11,120,839

23,961,525

781,573

2,898,261

1,704,932

1,059,016

1,164,316

1,005,579

1,433,972

1,517,131

635,138

1,018,993

1,842,717

2,861,004

529,063

6,272,641

1,157,702

779,765

827,106

1,498,978

535,328

1,632,261

440,971

628,549

1,715,545

1,054,407

284,087

2,081,151

331,736

164,947

112,535

127,673

195,732

202,734

68,666

67,604

187,608

648,534

1,854,575

6,460,191

2,403,581

1,018,536

750,443

973,894

1,224,291

1,525,592

482,437

692,520

1,165,364

1,984,996

1,467,922

775,663

893,321

17,896,415

1,422,308

214,550

110,323

97,456

2,001,156

141,964

93,850

20,837

74,036

880,265

137,513

20,963

18,307

5,098

551,274

21,403

151,932

69,028

97,145

1,433,309

133,091

4,144,923

694,320

1,289,947

3,187,591

1,962,660

156,743

64,073

38,562

499,046

280,395

55,003

8,092

74,825

390,169

263,709

51,718

9,027

15,897

44,673

39,863

417,158

85,552

113,224

288,952

222,790

494,232

13,257,865

3,710,715

2,413,347

1,560,889

75,518

1,223,428

494,531

293,703

413,690

2,736

1,483,523

141,132

148,738

103,472

5,479

189,428

46,375

13,306

12,547

35,908

1,271,848

334,981

253,744

183,330

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.................... 364 607,128 723,505 133,984 867,673

Louisiana..................... 182 787,769 857,925 285,645 1,026,175

Maine.......................... 89 129,456 302,130 134,999 475,067

Maryland.................... 155 509,065 973,910 279,390 1,145,760

Massachusetts............ 357 1,367,268 2,991,198 982,680 5,691,206

Michigan..................... 398 1,518,721 2,830,762 755,077 3,407,543

Minnesota................... 684 902,145 1,114,162 458,911 1,873,652

Mississippi................... 195 273,099 300,362 177,078 405,058

Missouri...................... 608 1,543,432 1,714,883 478,612 2,323,217

Montana...................... 115 167,515 270,428 74,160 286,654

Nebraska..................... 421 369,798 504,754 128,020 588,282

Nevada........................ 6 52,523 115,586 31,943

96,317

148,923

New Hampshire.......... 108 85,750 235,805 487,572

New Jersey.................. 294 1,188,831 2,194,798 1,135,017 3,475,606

New Mexico................ 52 149,266 214,239 30,149 232,864

New York.................... 588 11,334,020 12,534,349 5,413,628 34,750,972

North Carolina........... 210 652,446 600,828 330,977 1,103,980

North Dakota............. 154 103,966 315,814 110,215

895,102

226,748

Ohio............................. 614 2,242,109 3,455,449 4,821,064

Oklahoma.................... 387 723,979 680,535 239,989 918,426

Oregon......................... 56 370,978 567,017 199,533 820,350

Pennsylvania.............. 778 2,961,004 3,912,689 2,065,444 7,354,254

Rhode Island.............. 18 142,965 315,305 187,247 710,222

South Carolina............ 144 222,005 275,279 106,470 346,658

South Dakota............. 172 119,312 253,349 54,227 249,730

Tennessee.................... 298 759,395 722,323 232,550 1,296,601

Texas........................... 959 3,278,456 2,591,746 783,680 4,467,070

Utah............................. 49 196,009 234,537 64,767 406,726

Vermont...................... 66 61,134 113,252 35,747 290,538

Virginia........................ 313 683,245 860,471 258,483 1,342,069

Washington................. 92 568,684 773,441 280,415 1,406,434

West Virginia.............. 183 292,943 486,432 85,642 452,207

Wisconsin.................... 555 828,471 1,458,466 336,658 1,662,053

Wyoming..................... 53 86,457 148,392 23,579 130,576

Other area

Alaska.......................... 18 30,854 63,483 14,288 61,110

American Samoa........ 1 291 1,309 277

Hawaii.........................

Mariana Islands7........

Panama Canal Zone7

10 122,203

639

3,612

63,890

142,847 ........40,267 247,936

9,608

1,138

Puerto Rico7............... 10 65,090 54,764 325,059

Virgin Islands............. 3 3,304 10,991 21 6,792

20,198

45,391

15,479

76,476

173,180

2,352,488

3,002,905

1,057,131

2,984,601

11,205,532

1,758,189

1,982,802

882,456

2,383,531

9,037,905

180,358

499,537

47,929

222.071

468.072

209,141

293,210

10,818

114,320

437,000

18,502

26,721

9,679

30,772

191,523

186,298

200,635

106,249

233,907

1,071,032

116,951

54,462

19,042

59,135

10,347

8,629,054

4,403,332

1,174,639

6,119,279

809,104

6,997,562

3,315,378

831,131

4,304,510

635,055

699,539

328,383

170,325

449,393

85,680

219,163

380,197

79,378

839,590

35,831

122,377

49,868

7,036

60,726

8,229

590,413

329,506

86,769

465,060

44,309

15,056

8,285

11,853

132,543

10,700

1,605,910

357,260

917,297

8,126,795

637,218

1,171,177

272,168

765,382

6,877,063

448,354

140,137

56,343

34,954

505,491

130,806

143,534

2,774

11,653

89,092

16,607

13,491

4,421

8,512

82,380

5,020

137,571

21,554

96,796

572,769

36,431

1,672,298

48,258

8,232

153,776

34,703

65,705,267

2,736,489

764,975

11,567,500

2,597,632

49,624,953

1,924,929

547,541

9,252,209

1,873,714

2,225,839

237,526

141,081

936,471

265,677

6,167,201

294,595

12,531

399,913

229,981

1,939,390

58,664

5,746

132,247

17,453

5,747,884

220,775

58,076

846,660

210,807

37,235

257,681

18,581

12,973

7,604

1,995,113

16,551,072

1,374,320

963,385

684,222

1,573,803

13,268,412

1,171,928

726,688

536,447

209,478

768,461

52,881

123,952

79,994

27,581

757,789

12,121

27,472

12,412

31,033

199,489

18,911

8,658

4,823

153,218

1,556,921

118,479

76,615

50,546

53,727

276,840

14,749

6,520

53,122

3,064,596

11,397,792

916,788

507,191

3,197,390

2,141,275

7,914,020

672,861

435,124

2,401,068

278,372

1,102,051

126,461

20,994

298,881

376,211

1,384,891

42,662

2,468

215,574

43,347

137,560

13,479

3,744

34,586

225,391

859,270

61,325

44,861

247,281

49,709

16,548

52,575

4,960

3,078,683

1,333,772

4,338,223

393,964

2,513,634

999,665

3,597,411

291,959

224,043

138,024

239,902

57,525

80,998

52,979

175,033

14,049

36,035

16,370

26,980

2,710

223,973

126,734

298,897

27,721

3,588

32

14,880

11,269

173,323

1,909

568,133

21,516

114,266

756

401,356

13,152

45,202

904

101,803

7,876

2,556

65

14,428

701

29

5,590

488

10,598

155

44,956

16,699 21,449 8,882 12,220 342 5

27,610

243

536,413

21,351

331,051

11,259

94,217

8,641

8,222

34

50,107

247

52,816

1,170

1 Includes 27 noninsured banks of deposit (5 in Colorado, 16 in Georgia, 2 in Iowa, and 4 in Texas) for which asset, liability, and capital account data are not available.

2 Demand and time deposits of individuals, partnerships, and corporations, certified and officers’ checks, cash letters of credit, etc.

3 Deposits of the United States Government and of States and subdivisions.

4 Interbank deposits and postal savings deposits.

5 Includes Puerto Rico and the Virgin Islands.

6 Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone.

7 Includes asset and liability data for the following branches of insured banks in continental United States: 2 insured branches and 1 noninsured branch in the Mariana Islands 

(2 insured in Guam and 1 noninsured in Saipan); 4 noninsured branches in the Panama Canal Zone; and 12 insured branches in Puerto Rico. Data for these branches are not included 

in the figures for the States in which the parent banks are located.

Back figures, 19^5-1956: See the Annual Report for 1956, pp. 108-109, and earlier reports.

ASSETS AND LIABILITIES OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 110. A s s e t s a n d L ia b il i t i e s o f O p e r a tin g In s u r e d B an k s in t h e U n ite d S t a t e s ( C o n t in e n t a l U. S. a n d O t h e r A r e a s ),

D e c e m b e r 31, 1957, J u n e 6, 1957, an d D e c e m b e r 31, 1956

(Amounts in thousands of dollars)

Assets

All insured banks Insured commercial banks1 Insured mutual savings banks

Dec. 31, 

1957

June 6, 

1957

Dec. 31, 

1956

Dec. 31, 

1957

June 6, 

1957

Dec. 31, 

1956

Dec. 31, 

1957

June 6, 

1957

Dec. 31, 

1956

Total assets..........................................................................

Cash, balances with other banks, and cash collection items—to ta l..............................................

Currency and coin.........................................................

Reserve with Federal Reserve banks (member banks) 

Demand balances with banks in the United States 

(except private banks and American branches of

foreign banks)............................................................

Other balances with banks in the United States. .. .

Balances with banks in foreign countries...................

Cash items in process of collection.............................

Obligations of the U. S. Governm ent, direct and 

guaranteed—total..................................................

Direct:

Treasury bills.............................................................

Treasury certificates of indebtedness......................

Treasury notes...........................................................

United States non-marketable bonds.....................

Other bonds maturing in 5 years or less................

Other bonds maturing in 5 to 10 years..................

Other bonds maturing in 10 to 20 years................

Other bonds maturing after 20 years.....................

Guaranteed obligations (FHA debentures)...............

Other securities—total.................................................

Obligations of States and subdivisions.......................

Other bonds, notes, and debentures...........................

249,205,004 233,423,253 241,427,659 221,534,082 207,182,172 216,145,285 27,670,922 26,241,081 25,282,374

48,937,530

3,453,082

18,973,317

12,531,337

167,984

77,754

13,734,056

40,469,847

2,827,682

18,501,464

9,901,069

220,082

73,555

8,945,995

49,182,762

3,370,417

18,707,348

12,935,726

202,872

59,533

13,906,866

48,218,664

3,345,502

18,971,893

12,072,336

44,247

77,754

13,706,932

39,797,636

2,748,128

18,499,980

9,496,275

53,095

73,555

8,926,603

48,444,022

3,270,129

18,705,986

12,483,040

46,133

59,533

13,879,201

718,866

107,580

1,424

459,001

123,737

........27,124

672,211

79,554

1,484

404,794

166,987

........19,392

738,740

100,288

1,362

452,686

156,739

27,665

63,090,397

5,384,320

4,886,912

10,781,448

2,160,945

24,019,910

8,409,921

6,957,342

465,357

24,242

61,577,678

4,796,963

3,661,684

10,194,560

2,475,791

21,234,521

11,243,593

7,438,822

499,661

32,083

63,475,833

5,877,173

1,997,447

11,919,792

2,985,290

21,198,173

11,492,502

7,506,976

462,439

36,041

57,686,105

5,297,896

4,770,564

10,510,447

1,217,272

23,418,354

8,003,229

4,329,192

131,757

7,394

56,072,314

4,666,240

3,610,613

9,985,981

1,474,810

20,732,554

10,704,633

4,715,233

173,766

8,484

57,957,686

5,779,261

1,985,124

11,746,396

1,882,908

20,677,142

11,007,207

4,683,793

183,104

12,751

5,404,292

86,424

116,348

271,001

943,673

601,556

406,692

2,628,150

333,600

16,848

5,505,364

130,723

51,071

208,579

1,000,981

501,967

538,960

2,723,589

325,895

23,599

5,518,147

97,912

12,323

173,396

1,102,382

521,031

485,295

2,823,183

279,335

23,290

21,580,601

14,316,219

6,370,336

345,171

548,875

19,994,373

13,716,715

5,450,509

332,178

494,971

19,099,846

13,278,368

5,033,225

325,564

462,689

17,643,581

13,732,692

3,434,684

345,095

131,110

16,542,348

13,139,189

2,S5S*8S5'

15,989,650

12,716,647

2,829,373

3,937,020

583,527

2,935,652

76

417,765

3,452,025

577,526

2,495,824

76

378,599

3,110,196

561,721

2,203,852

75

344,548

Federal Reserve bank stock.........................................

Other corporate stocks..................................................

Total securities...................................................

116,372

325,489

118,141

84,670,998 81,572,051 82,575,679 75,329,686 72,614,662 73,947,336 9,341,312 8,957,389 8,628,343

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Loans and discounts, net—tota l...........................

Valuation reserves.........................................................

Loans and discounts, gross—total........................

Real estate loans—total...........................................

Secured by farm land............. ...............................

Secured by residential properties:

Insured by FH A ................................................

Insured or guaranteed by V A ............................

Not insured or guaranteed by FHA or VA. ...

Secured by other properties....................................

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

Loans to brokers and dealers in securities.............

Other loans for carrying securities..........................

Loans to farmers directly guaranteed by the Commodity Credit Corporation......................................

Other loans to farmers (excl. real estate)..................

Commercial and industrial loans (including open

market paper). . . .....................................................

Other loans to individuals...........................................

All other loans (including overdrafts)........................

Total loans and securities...............................

Bank premises, furniture and fixtures, and other

real estate— total...................................................

Bank premises...............................................................

Furniture and fixtures..................................................

Real estate owned other than bank premises............

Investments and other assets indirectly representing 

bank premises or other real estate..........................

Miscellaneous assets—total........................................

Customers’ liability on acceptances outstanding. . . .

Income accrued but not collected...............................

Prepaid expenses...........................................................

Other assets...................................................................

RATIOS

Percentages of total assets:

Cash and balances with other banks..........................

U. S. Government obligations, direct and guaranteed

Other securities.............................................................

Loans and discounts.....................................................

Other assets...................................................................

Total capital accounts..................................................

110,995,104

1,974,714

112,969,818

40,314,470

1,391,938

9,015,983

10,11*1*,186

13,259,138

6,502,925

728,404 

2,568,942 

1,607,903

455,479

3,576,225

40,591,601

20,307,864

2,818,930

195,666,102

2,485,869

1,791,220

471,918

54,074

168,657

2,115,503

987,896

592,085

77,753

457,769

19.6%

25.3

8.7 

44.5

1.9

7.8

107,141,196

1,837,742

108,978,938

38,699,609

1,391,295

8,736,571

9,897,671*

12,616,957

6,057,112

1,001,471

2,251,415

1,634,747

406,120

3,636,405

39,092,689

19,628,587

2,627,895

188,713,247

2,352,257

1,700,521

454,334

56,104

141,298

1,887,902

756,659

568,185

105,729

457,329

17.3%

26.4

8.6

45.9

1.8

8.1

105,684,643

1,755,896

107,440,539

38,052,575

1,360,569

8,702,767

9,681,01*9

12,395,755

5,912,1*35

653,962

2,565,350

1,688,023

864,426

3,252,853

38,744,361

18,931,432

2,687,557

188,260,322

2,224,788

1,628,899

416,767

51,304

127,818

1,759,787

709,090

512,890

65,859

471,948

20.4%

26.3

7.9

43.8

1.6

7.5

93,801,010

1,776,004

95,577,014

23,104,149

1,31*8,615

1*,777,210

3,557,81*1

8,651*,696

1*,765,787

728,404 

2,568,942 

1,602,259

455,479

3,574,669

40,545,528

20,199,777

2,797,807

169,130,696

2,315,388

1,634,807

461,120

50,804

168,657

1,869,334

987,896

477,588

71,369

332,481

21.8%

26.0

8.0

42.3

1.9

7.7

90,913,421

1,640,336

92,553,757

22,512,528

1,31*7,71*1

1*,681,569

3,708,318

8,337,738

1*,1*37,162

1,001,471 

2,251,415 

1,613,991

406,120

3,634,862

39,035,193

19,487,856

2,610,321

163,528,083

2,191,570

1,553,788

444,534

51,950

141,298

1,664,883

756,659

473,348

95,769

339,107

19.2%

27.1

8.0

43.9

1.8

8.0

90,142,790

1,561,775

91,704,565

22,484,310

1,317,065

1*,751,01*6

3,861*,225

8,220,892

1*,331,082

653,962 

2,565,350 

1,670,750

864,426

3,251,264

38,706,798

18,828,502

2,679,203

164,090,126

2,069,609

1,485,716

407,820

48,255

127,818

1,541,528

709,090

412,953

60,111

359,374

22.4%

26.8

7.4 

41.7

1.7

7.4

17,194,094

198,710

17,392,804

17,210,321

1*3,323

1*,238,773

6,586,31*5

1*, 601*,71*2

1,737,138

5,644

1,556

46,073

108,087

21,123

26,535,406

170,481

156,413

10,798

3,270

246,169

114,497

6,384

125,288

2.6%

19.5

14.2

62.2 

1.5

16,227,775

197,406

16,425,181

16,187,081

1*3,551*

1*,055,002

6,189,356

1*,279,219

1,619,950

20,756

1,543

57,496

140,731

17,574

25,185,164

160,687

146,733

9,800

4,154

223,019

‘ 94,837 

9,960 

118,222

2.6%

21.0

13.1

61.8

1.5

8.5

15,541,853

194,121

15,735,974

15,568,265

1*3,501*

3,951,721

5,816,821*

1*,171*,863

1,581,353

17,273

1,589

37,563

102,930

8,354

24,170,196

155,179

143,183

8,947

3,049

218,259

' 99,937 

5,748 

112,574

2.9%

21.8

12.3

61.5

1.5

8.4

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 110. A s se ts a n d L ia b il it ie s op O p e r a t in g I n su r e d B a n k s in t h e U n it e d S ta t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s),

D e c e m b e r 31, 1957, Ju n e 6, 1957, a n d D e c e m b e r 31, 1956— Continued

(Amounts in thousands of dollars)

Liabilities and capital

All insured banks Insured commercial banks1 Insured mutual savings banks

Dec. 31, 

1957

June 6, 

1957

Dec. 31, 

1956

Dec. 31, 

1957

June 6, 

1957

Dec. 31, 

1956

Dec. 31, 

1957

June 6, 

1957

Dec. 31, 

1956

Total liabilities and capital accoun ts..........................

Business and personal deposits—to ta l....................

Deposits of individuals, partnerships, and corporations—demand...................................................

Deposits of individuals, partnerships, and corporations—time2........................................................

Certified and officers’ checks, cash letters of credit 

and travelers’ checks outstanding, and amounts 

due to Federal Reserve banks..................................

Government deposits—total......................................

United States Government—demand.........................

United States Government—time...............................

States and subdivisions—demand...............................

States and subdivisions—time.....................................

Interbank and postal savings deposits— total. . . .

Banks in the United States—demand........................

Banks in the United States—time..............................

Banks in foreign countries—demand..........................

Banks in foreign countries—time................................

Postal savings................................................................

249,205,004 233,423,253 241,427,659 221,534,082 207,182,172 216,145,285 27,670,922 26,241,081 25,282,374

191,123,086

109,203,083

78,307,102

3,612,901

177,936,090

100,716,688

74,374,521

2,844,881

185,213,185

110,500,065

70,956,096

3,757,024

166,116,840

109,185,975

53,324,826

3,606,039

154,372,637

100,696,640 

250,83 5,128

2,840,869

162,348,150

110,482,676

48,112,609

3,752,865

25,006,246

17,108

24,982,276

6,862

23,563,453

20,048

23,539,393

4,012

22,865,035

17,389

22,843,487

4,159

17,595,509

3,892,635

292,085

10,651,449

2,759,340

16,914,421

3,348,526

316,977

10,552,349

2,696,569

16,857,786

3,756,745

316,386

10,407,745

2,376,910

17,581,288

3,889,322

292,073

10,649,514

2,750,379

16,901,469

3,346,927

316,965

10,550,171

2,687,406

16,839,408

3,754,223

316,377

10,405,838

2,362,970

14,221

3,313

12

1,935

8,961

12,952

1,599

12

2,178

9,163

18,378

2,522

9

1,907

13,940

16,788,777

13,760,062

45,435

1,736,876

1,221,883

24,521

14,132,712

11,133,847

66,076

1,581,411

1,324,892

26,486

17,321,718

14,233,338

52,942

1,756,076

1,251,129

28,233

16,787,123

13,759,719

44,124

1,736,876

1,221,883

24,521

14,131,010

11,133,505

64,716

1,581,411

1,324,892

26,486

17,319,567

14,232,998

51,131

1,756,076

1,251,129

28,233

1,654

343

1,311

1,702

342

1,360

2,151

340

1,811

Total deposits.........................................................

Demand...................................................................

Time........................................................................

Miscellaneous liabilities—total.................................

Bills payable, rediscounts, and other liabilities for

borrowed money........................................................

Acceptances outstanding..............................................

225,507,372

1^2,857,006

82,650,366

208,983,223

130,177,702

78,805,521

219,392,689

144,4-10,993

74,981,696

200,485,251

1U2,827,U5

57,657,806

185,405,116

130,14-9,523

55,255,593

196,507,125 

1U ,884,676

52,122,449

25,022,121

29,561

24-,992,560

23,578,107

28,179

23,549,928

22,885,564

26,317

22,859,247

4,303,190

70,545

1,028,557

133.558 

1,051,785 

1,024,186

994.559

5,642,339

1,437,128

786,154

200,135

979,602

1,117,544

1,121,776

3,885,102

63,671

739,674

114,787

904,518

854,476

1,207,976

3,962,962

68,483

1,028,557

108,608

1,018,809

1,013,548

724,957

5,219,452

1,436,879

786,154

60,201

961,416

1,102,425

872,377

3,617,998

63,331

739,674

99,204

881,878

843,543

990,368

340,228

2,062

422,887

249

267,104

340

Dividends declared but not yet payable....................

Income collected but not earned.................................

Expenses accrued and unpaid......................................

Other liabilities..............................................................

Total liabilities (excluding capital accounts)

24,950

32,976

10,638

269,602

139,934

18,186

15,119

249,399

15,583

22,640

10,933

217,608

229,810,562 214,625,562 223,277,791 204,448,213 190,624,568 200,125,123 25,362,349 24,000,994 23,152,668

112 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Capital accounts— tota l...............................................

Capital stock, notes, and debentures.........................

Surplus...........................................................................

Undivided profits..........................................................

Reserves.........................................................................

MEMORANDA

Pledged assets and securities loaned.......................

Capital stock, notes, and debentures:

Par or face value—tota l...........................................

Common stock..........................................................

19,394,442

5,169,329

9,984,995

3,634,603

605,515

18,797,691

5,004,504

9,506,672

3,707,333

579,182

18,149,868

4,872,220

9,378,151

3,305,715

593,782

17,085,869

5,169,329

8,241,544

3,232,021

442,975

16,557,604

5,004,504

7,859,442

3,268,284

425,374

16,020,162

4,872,220

7,760,016

2,941,353

446,573

2,308,573

(3)

1,743,451

402,582

162,540

2,240,087

(3)

1,647,230

439,049

153,808

2,129,706

(3)

1,618,135

364,362

147,209

23,188,574 24,491,822 22,202,637 23,188,574 24,491,822 22,202,637

5,172,759

5,123,987

30,687

18,085

5,008,014

4,958,384

31,035

18,595

4,875,740

4,825,397

32,045

18,298

5,169,729

5,123,987

27,657

18,085

5,004,904

4,958,384

27,925

18,595

4,872,620

4,825,397

28,925

18,298

3,030 3,110 3,120

Capital notes and debentures..................................

Preferred stock..........................................................

3,030 3,110 3,120

Retirable value of preferred stock.............................. 27,044 28,081 27,941 27,044 28,081 27,941

Number of banks.................................................................. 13,404 13,445 13,441 13,165 13,211 13,218 239 234 223

1 Includes stock savings banks.

2 As of June 6, 1957, the segregation of “ Time deposits of individuals, partnerships, and corporations” of insured commercial banks was obtained by a supplementary schedule

and is as follows:

Savings deposits....................................................................... $44,090,651,000

Deposits accumulated for payment of personal loans.......... 582,726,000

Christmas savings and similar accounts............................... 600,025,000

Certificates of deposit.............................................................. 3,214,615,000

Open accounts of banks' own trust departments................. 1,247,913,000

Other open accounts................................................................ 1,099,198,000

3 Not reported separately. Included with “ Reserves.”

Back figures, 1934-1956: See the Annual Report for 1956, pp. 110-113, and earlier reports.

ooASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 111. D is t r ib u t io n o f I n s u r e d C o m m e rcia l B a n k s O p e r a tin g in t h e U n ite d S ta te s 

( C o n t in e n t a l U. S. a n d O t h e r A r e a s ), D e c e m b e r 31, 1957

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY RATIOS OF SELECTED ITEMS TO ASSETS

Ratios All

banks

Number of banks with deposits of—

Less

than

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

$100,000,000

to

$500,000,000

$500,000,000

or

more

Ratios of obligations of States and subdivisions to total assets of—

Z e r o ................................... .................. 1,247 427 429 264 57 49 13 6 2

More than zero but less than 1 percent....... 1,197 215 397 376 96 66 19 15 10 3

1 to 5 percent................................................... 3,881 462 946 1,302 530 342 122 72 87 18

5 to 10 percent................................................. 3,668 223 557 1,272 768 515 169 72 70 22

10 to 15 percent............................................... 1,895 101 227 712 451 269 79 32 22 2

15 to 20 percent............................................... 825 57 114 301 192 105 36 16 4

20 percent or more 452 34 87 172 103 47 4 4 1

Ratios of U. S. Government obligations

to total assets of—

Less than 10 percent 216 53 47 77 27 8 2 2

10 to 20 percent............................................... 1,317 166 257 406 226 127 41 29 41 24

20 to 30 percent............................................... 3,644 321 592 1,172 682 481 176 94 110 16

30 to 40 percent............................................... 4,249 428 822 1,411 805 520 154 75 29 5

40 to 50 percent ....................................... 2,512 335 674 903 335 193 47 12 13

50 to 60 percent 958 152 286 347 95 53 19 4 2

60 percent or more .............. 269 64 79 83 27 11 3 1 1

Ratios of loans to total assets of—

Less than 10 percent . . . 84 16 20 25 11 9 1 2

10 to 20 percent 701 112 175 258 109 32 10 4 1

20 to 30 percent 2,699 333 637 981 431 226 61 21 9

30 to 40 percent............................................... 4,401 481 890 1,570 722 465 148 68 53 4

40 to 50 percent............................................... 3,833 387 740 1,129 687 511 167 91 96 25

50 to 60 percent............................................... 1,225 155 236 361 212 133 49 30 33 16

60 percent or more.......................................... 222 35 59 75 25 17 6 3 2

114 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Ratios of cash and due from banks to total 

assets of—

Less than 10 percent........................................

10 to 15 percent...............................................

15 to 20 percent...............................................

20 to 25 percent...............................................

25 to 30 percent...............................................

30 to 35 percent...............................................

35 percent or more..........................................

Ratios of total capital accounts to total 

assets other than cash and due from 

banks and U. S. Government obligations of—

Less than 10 percent.......................................

10 to 15 percent...............................................

15 to 20 percent...............................................

20 to 25 percent...............................................

25 to 30 percent...............................................

30 to 35 percent...............................................

35 to 40 percent...............................................

40 percent or more..........................................

Ratios of total capital accounts to total 

assets of—

Less than 4 percent.........................................

4 to 6 percent...................................................

6 to 8 percent...................................................

8 to 10 percent.................................................

10 to 12 percent...............................................

12 to 15 percent...............................................

15 percent or more..........................................

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

516 66

3,108 331

4,124 383

2,837 286

1,442 191

678 125

460 137

406 2

3,645 109

3,965 266

2,383 332

1,180 242

679 209

345 117

562 242

57 1

1,329 12

4,327 150

4,001 407

2,033 406

1,070 372

348 171

13,165 1,519

200 62 41 13 5 2 1

1,019 544 357 105 35 24

1,415 759 500 155 66 45 8

957 497 309 95 51 46 17

482 221 117 47 37 41 12

199 72 47 22 17 30 5

127 43 21 5 6 8 2

85 92 123 47 18 15 1

1,042 926 728 259 126 116 23

1,566 749 387 102 57 53 19

948 264 90 26 12 9 2

389 93 38 5 2 1

179 36 13 1 2

85 16 4 1 1

105 21 10 1 1

7 7 20 15 4 3

304 341 366 137 63 40 3

1,538 991 637 195 102 109 23

1,580 600 271 81 36 34 14

681 179 57 9 11 7 3

236 68 33 4 1 1 2

53 11 9 1 2

4,399 2,197 1,393 442 217 196 45

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 112. 

Table 113. 

Table 114.

Table 115.

Table 116.

Table 117.

Table 118.

Table 119. 

Table 120.

E a r n in g s , E x p e n s e s , a n d D iv id e n d s o f I n s u r e d B a n k s

Earnings, expenses, and dividends of insured commercial banks in the United States 

(continental U. S. and other areas), 1949-1957

Ratios of earnings, expenses, and dividends of insured commercial banks in the 

United States (continental U. S. and other areas), 1949-1957

Earnings, expenses, and dividends of insured commercial banks in the United States 

(continental U. S. and other areas), 1957 

By class of bank

Ratios of earnings, expenses, and dividends of insured commercial banks in the 

United States (continental U. S. and other areas), 1957 

By class of bank

Earnings, expenses, and dividends of insured commercial banks operating throughout 1957 in the United States (continental U. S. and other areas)

Banks grouped according to amount of deposits

Ratios of earnings, expenses, and dividends of insured commercial banks operating 

throughout 1957 in the United States (continental U. S. and other areas)

Banks grouped according to amount of deposits

Earnings, expenses, and dividends of insured commercial banks in the United States 

(continental U. S. and other areas), by State, 1957

Income, expenses, and dividends of insured mutual savings banks, 1951-1957 

Ratios of income, expenses, and dividends of insured mutual savings banks, 1951-1957

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Commercial banks

Reports of earnings, expenses, and dividends are submitted to the 

Federal supervisory agencies on either a cash or an accrual basis.

Earnings data are included for all insured banks operating at the end 

of the respective years, unless indicated otherwise. In addition, appropriate adjustments have been made for banks in operation during part 

of the year but not at the end of the year. Data for 2 insured branches 

in Guam of an insured bank in California and for 12 insured branches 

in Puerto Rico of insured banks in New York are not available.

The uniform report of earnings and dividends for commercial banks 

was revised in 1948 to show separately for the first time charge-offs and 

transfers to valuation reserves as well as recoveries and transfers from 

valuation reserves. Also, the actual recoveries and losses that are credited 

and charged to valuation reserves were reported as memoranda items.

Averages of assets and liabilities shown in Tables 112-115 and 118 are 

based upon figures at the beginning, middle, and end of each year, as 

reported by banks operating on those dates, adjusted to exclude asset 

and liability figures for insured branches in Guam of an insured bank in 

California and in Puerto Rico of insured banks in New York. Consequently, the asset and liability averages are not strictly comparable 

with the earnings data, but the differences are not large enough to 

affect the totals significantly. Some further incomparability is also 

introduced into the data by class of bank by shifts between those 

classes during the year.

Assets and liabilities shown in Table 116, and utilized for computation 

of ratios shown in Table 117, are for the identical banks to which the 

earnings data pertain. The assets and liabilities are as of December 31, 

1957.

Mutual savings banks

A uniform report of income, expenses, and dividends for mutual savings banks was adopted by the Corporation for the calendar year 1951. 

Summaries of these reports for 1951-1957 are given in Tables 119 and 

120. Data prior to 1951 are omitted because of lack of comparability.

The new form attempts to present operations on a basis accurately 

reflecting actual income and profit and loss, and provides more detailed 

information regarding losses and valuation adjustments. For a discussion 

of the history and principles of this uniform report see pp. 50-52 in 

Part Two of the 1951 Annual Report.

Sources of data

National banks and State banks not members of the Federal Reserve 

System in the District of Columbia: Office of the Comptroller of the 

Currency.

State banks members of the Federal Reserve System: Board of 

Governors of the Federal Reserve System.

Other insured banks: Federal Deposit Insurance Corporation.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 112. E a r n in g s, E x p e n s e s, and D iv id e n d s of I n su r e d C om m e r c ia l B a n k s in th e

U n it e d St a t e s (C o n tin e n ta l U. S. an d Oth e r A r e a s ), 1949-1957

(Amounts in thousands of dollars)

Earnings or expense item

Current operating earnings—tota l.........................

Interest on U. S. Government obligations..............

Interest and dividends on other securities...............

Interest and discount on loans..................................

Service charges and fees on bank’s loans.................

Service charges on deposit accounts.........................

Other service charges, commissions, fees, and

collection and exchange charges........................

Trust department....................................................

Other current operating earnings..........................

Current operating expenses—tota l.....................

Salaries—officers......................................................

Salaries and wages—employees.................................

Fees paid to directors and members of executive,

discount, and other committees.......................

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

Interest and discount on borrowed money..........

Taxes other than on net income...............................

Recurring depreciation on banking house, furniture

and fixtures..............................................................

Other current operating expenses.............................

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

Recoveries, transfers from reserve accounts

and profits— total.................................................

On securities**

Recoveries..............................................................

Transfers from reserve accounts...........................

Profits on securities sold or redeemed..................

On loans:

Recoveries................................................................

Transfers from reserve accounts...........................

All other.......................................................................

Losses, charge-offs, and transfers to reserve 

accounts—total.................................................

On securities:

Losses and charge-offs........................................

Transfers to reserve accounts............................

On loans:

Losses and charge-ofFs........................................

Transfers to reserve accounts............................

All other...................................................................

1949

3,606,879

1,013,515

201,691

1,733,690

26,090

194,013

95,420

160,430

182,030

2,283,727

410,685

700,065

22,608

328,010

3,582

113,569

53,988

651,219

1,323,153

213,187

16,412

26,672

73,196

23,142

28,220

45,546

379,824

38,671

33,044

29,064

221,167

57,878

1950

3,930,696

1,015,456

225,425

1,976,100

31,724

212,272

104,602

180,674

184,445

2,444,534

446,043

755,681

24,745

343,040

4,296

128,101

59,469

683,159

1,486,164

245,461

14,718

38,639

90,469

28,506

29,971

43,157

366,932

38,721

54,518

23,030

191,248

59,414

1951

4,395,411

983,662

249,495

2,390,106

34,595

230,507

116,140

192,313

198,593

2,701,313

486,300

864,519

27,343

385,344

9,667

135,590

65,845

726,707

1,694,100

169,233

15,292

12,285

56,563

22,595

28,453

34,046

395,687

83,756

31,680

21,215

204,202

54,836

1952

4,931,688

1,099,059

276,993

2,742,100

42,295

244,696

121,868

204,967

199,713

3,028,575

530,035

965,197

30,871

458,059

20,921

139,290

74,953

809,252

1,903,112

144,146

11,191

20,492

33,806

22,004

27,330

29,324

362,444

97,512

29,531

23,637

154,510

57,253

1953

5,483,954

1,206,965

297,739

3,107,885

47,850

271,444

132,978

217,996

201,101

3,375,552

582,405

1,069,890

34,591

534,493

24,171

148,783

84,085

897,137

2,108,398

152,373

11,45^

27,545

38,865

28,423

18,292

27,794

448,323

155,969

54,160

31,774

132,127

74,291

1954

5,773,787

1,272,731

324,823

3,205,894

57,550

311,806

144,140

246,223

210,621

3,638,087

622,862

1,139,013

37,197

618,341

8,556

166,452

94,720

950,945

2,135,700

631,496

14,912

60,555

416,520

34,014

57,965

47,530

552,606

66,670

126,173

29,269

222,998

107,497

1955

6,377,705

1,333,690

351,041

3,625,528

71,048

339,975

155,004

281,841

219,579

3,960,173

666,152

1,229,756

39,563

678,237

23,093

176,840

108,306

1,038,228

2,417,533

239,598

20,586

39,930

57,085

27,379

50,899

43,722

707,155

221,232

67,276

28,159

303,600

1956

7,231,921

1,342,842

370,045

4,339,866

73,562

385,927

168,497

322,117

229,068

4,457,198

720,866

1,372,262

42,614

805,857

45,392

187,526

128,085

1,154,600

2,774,724

250,171

14,090

41,001

31,151

20,762V

77,606

65,563

993,534

317,381

101,830

32,018

452,940

89,369

8,050,416

1,442,379

412,497

4,879,676

83,815

440,892

186,815

354,520

249,828

5,119,18 2

773,769

1,493,778

45,396

1,141,715

49,538

205,903

146,262

1,262,823

2,931,235

198,413

9,295 n

20,751 /

64,368

21,183-'

39,757

43,063

757,432

237,480

84,996

25,63S~*r

321,870

87,452

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before income taxes...............................

Taxes on net income— total.....................................

Federal.........................................................................

State.............................................................................

Net profits after income taxes.................................

Dividends and interest on capital— total........

Dividends declared on preferred stock and interest

on capital notes and debentures............................

Cash dividends declared on common stock.............

Net additions to capital from profits....................

1,156,514 1,364,690 1,467,645 1,684,813 1,812,451 2,214,591 1,949,976 2,031,360 2,372,217

325,148

304,572

20,576

427,776

402,582

25,194

559,475

530,810

28,664

694,883

662,277

32,606

786,490

750,796

35,693

907,560

862,065

45,495

793,737

753,883

39,855

814,636

769,843

44,793

998,397

947,998

50,401

831,364 936,915 908,175 989,931 1,025,963 1,307,032 1,156,240 1,216,725 1,373,821

354,144

5,093

349,052

391,249

4,333

386,916

418,860

3,876

414,984

441,971

3,675

438,298

473,866

2,979

470,888

516,977

2,912

514,066

566,124

2,581

563,543

616,890

2,389

614,501

678,101

2,234

675,867

477,220 545,666 489,315 547,961 552,097 790,055 590,118 599,835 695,720

Memoranda

Recoveries credited to reserve accounts (not included 

in recoveries above):

On securities................................................................

On loans.......................................................................

Losses charged to reserve accounts (not included in 

losses above):

On securities................................................................

On loans.......................................................................

2,600

19,645

6,104

72,978

3,565

123,507

6,324

157,733

2,363

28,477

17,725

64,735

4,355

31,508

25,598

64,607

2,232

33,612

38,480

89,186

3,154

40,384

15,841

89,495

3,146

39,794

68,140

88,417

3,332

42,711.

95,505

123,529

2,646 

_ 50,824

74,529

117,937-

Average assets and liabilities2

Assets— total.................................................................

Cash and due from banks..........................................

United States Government obligations....................

Other securities............................................................

Loans and discounts...................................................

All other assets............................................................

Liabilities and capital—total...................................

Total deposits..............................................................

Time and savings deposits.......................................

Borrowings and other liabilities................................

Total capital accounts................................................

151,566,078

35,683,829

63,080,739

9,387,984

41,670,879

1,742,647

158,986,894

36,006,423

63,846,830

11,043,342

46,250,272

1,840,027

169,207,394

40,373,273

59,711,922

12,554,632

54,533,221

2,034,346

179,803,463 

42,952,808 

61,065,059 

13,562,462 

59,399,743 

2,£23,391

185,685,283

43,192,523

60,868,295

14,082,070

65,213,144

2,329,251

193,339,614

42,976,798

64,372,065

15,209,165

68,148,039

2,633,547

202,331,676

43,510,745

63,808,049

16,294,075

75,800,688

2,918,119

209,712,780

45,728,691

58,257,149

16,179,498

86,291,628

3,255,814

214,790,440

45,474,318

57,238,574

16,725,206

91,493,989

3,858,353

151,566,078

139,764,394

103,862,159

35,902,235

1,380,578

10,421,106

158,986,894

146,269,294

109,822,638

36,U6,656

1,710,204

11,007,396

169,207,394

155,460,465

118,189,171

37,271,29k

2,131,162

11,615,767

179^03,463

165,u31,495 

125&13,8k2

39,817,653

2,501,055 

12,270,913

185,685,283 

170,075,888 

127,028,332

k3,0k7,556

2,667,917 

12,941,478

193,339,614

176,865,497

130,023,191

k6,8k2,306

2,712,778

13,761,339

202,331,676

184,734,232

135,k22,891

k9,311,3kl

2,965,764

14,631,680

209,712,780

190,786,522

139,690,k32

51,096,090

3,372,960

15,553,298

214,790,440

193,993,484

139,023,597

5k,969,887

4,242,293 

16,554,663

Number of active officers, December 31......................

Number of other employees, December 31.................

69,439

296,308

71,566

312,324

73,806

334,961

76,754

358,325

79,574

376,750

82,167

386,625

84,931

408,791

88,462

433,563

91,597

452,218

Number of banks, December 31................................... 13,436 13,446 13,455 13,439 13,432 13,323 13,237 13,218 13,165

Note: Due to rounding differences, data may not add precisely to the indicated totals.

1 Revised.

2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 193k-19k8: See the following Annual Reports: 1950, pp. 250-251, and 1941, pp. 158-159. d

coEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 13. R a t io s o f E a r n in g s, E x p e n s e s , a n d D iv id e n d s of I n s u r e d C o m m e r c ia l B a n k s in th e

U n it e d S t a t e s (C o n t in e n t a l U. S. a n d O t h e r A r e a s ), 1949-1957

Earnings or expense item 1949 1950 1951 1952 1953 1954 1955 1956 1957

Amounts per $100 of current operating

earnings

Current operating earnings—total......................... $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Interest on U. S. Government obligations.............. 28.10 25.83 22.38 22.29 22.01 22.04 20.91 18.57 17.92

Interest and dividends on other securities............... 5.59 5.74 5.68 5.62 5.43 5.63 5.51 5.12 5.12

Income on loans.......................................................... 48.79 51.08 55.17 56.46 57.55 56.52 57.96 61.03 61.65

Service charges on deposit accounts......................... 5.38 5.40 5.24 4.96 4.95 5.40 5.33 5.33 5.48

Other service charges, commissions, fees, and 

collection and exchange charges............................ 2.65 2.66 2.64 2.47 2.42 2.50 2.43 2.33 2.32

Other current operating earnings.............................. 9.49 9.29 8.89 8.20 7.64 7.91 7.86 7.62 7.51

Current operating expenses—total......................... 63.32 62.19 61.46 61.41 61.55 63.01 62.09 61.63 63.59

Salaries, wages, and fees............................................ 31.42 31.20 31.35 30.95 30.76 31.16 30.35 29.53 28.73

Interest on time and savings deposits...................... 9.10 8.73 8.77 9.29 9.75 10.71 10.63 11.14 14.18

Taxes other than on net income................................ 3.15 3.26 3.09 2.82 2.71 2.88 2.77 2.60 2.56

Recurring depreciation on banking house, furniture 

and fixtures.............................................................. 1.50 1.51 1.50 1.52 1.53 1.64 1.70 1.77 1.82

Other current operating expenses.............................. 18.15 17.49 16.75 16.83 16.80 16.62 16.64 16.59 16.30

Net current operating earnings............................... 36.68 37.81 38.54 38.59 38.45 36.99 37.91 38.37 36.41

Amounts per $100 of total assets1

Current operating earnings—total................................ 2.38 2.47 2.60 2.74 2.96 2.98 3.15 3.45 3.74

Current operating expenses—total................................ 1.51 1.54 1.60 1.68 1.82 1.88 1.96 2.13 2.38

Net current operating earnings..................................... .87 .93 1.00 1.06 1.14 1.10 1.19 1.32 1.36

Recoveries, transfers from reserve accounts, and 

profits—total................................................' ............ .14 .16 .10 .08 .08 .33 .12 .12 .09

Losses, charge-offs, and transfers to reserve accounts—total............................................................... .25 .23 .23 .20 .24 .28 .35 .47 .35

Net profits before income taxes.................................... .76 .86 .87 .94 .98 1.15 .96 .97 1.10

Net profits after income taxes....................................... .55 .59 .54 .55 .55 .68 .57 .58 .64

Amounts per $100 of total capital accounts1

Net current operating earnings..................................... 12.70 13.50 14.58 15.51 16.29 15.52 16.52 17.84 17.71

Recoveries, transfers from reserve accounts, and 

profits—total............ .................................................. 2.04 2.23 1.46 1.17 1.18 4.59 1.64 1.61 1.20

Losses, charge-offs, and transfers to reserve accounts—total............................................................... 3.64 3.33 3.41 2.95 3.46 4.02 4.83 6.39 4.58

Net profits before income taxes.................................... 11.10 12.40 12.63 13.73 14.01 16.09 13.33 13.06 14.33

Taxes on net income....................................................... 3.12 3.89 4.81 5.66 6.08 6.59 5.43 5.24 6.03

Net profits after income taxes....................................... 7.98 8.51 7.82 8.07 7.93 9.50 7.90 7.82 8.30

Cash dividends declared................................................. 3.40 3.55 3.61 3.60 3.66 3.76 3.87 3.96 4.10

Net additions to capital from profits............................ 4.58 4.96 4.21 4.47 4.27 5.74 4.03 3.86 4.20

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Special ratios1

Income on loans per $100 of loans...............................

Income on U. S. Government obligations per $100

of U. S. Government obligations..............................

Income on other securities per $100 of other securities.

Service charges per $100 of demand deposits.............

Interest paid per $100 of time and savings deposits. .

4.22

1.61

2.15

.19

.91

4.34

1.59

2.04

.19

.94

4.45

1.65

1.99

.20

1.03

4.64

1.80

2.04

.20

1.15

4.84

1.98

2.11

.21

1.24

4.79

1.98

2.14

.24

1.32

4.88

2.09

2.15

.25

1.38

5.11

2.31

2.29

.28

1.58

5.42

2.52

2.47

.32

2.08

Assets and liabilities per $100 of total

assets1

Assets—total................................................................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Cash and due from banks.......................................... 23.55 22.65 23.86 23.89 23.26 22.23 21.51 21.81 21.17

United States Government obligations.................... 41.62 40.16 35.29 33.96 32.78 33.29 31.54 27.78 26.65

Other securities........................................................... 6.19 6.94 7.42 7.54 7.58 7.87 8.05 7.71 7.79

Loans and discounts................................................... 27.49 29.09 32.23 33.37 35.12 35.25 37.46 41.15 42.60

All other assets............................................................ 1.15 1.16 1.20 1.24 1.26 1.36 1.44 1.55 1.79

Liabilities and capital—total................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits.............................................................. 92.21 92.00 91.88 91.78 91.59 91.48 91.30 90.97 90.32

Demand deposits....................................................... 68.52 69.08 69.85 69.6^ 68.U1 67.25 66.93 66.61 6 A.73

Time and savings deposits....................................... 23.69 22.92 22.03 22..U 23.18 21*.23 2U.37 21+.86 25.59

Borrowings and other liabilities.................................... .91 1.08 1.26 1.39 1.44 1.40 1.47 1.61 1.97

Total capital accounts.................................................... 6.88 6.92 6.86 6.83 6.97 7.12 7.23 7.42 7.71

Number of banks, December 31................................... 13,436 13,446 13,455 13,439 13,432 13,323 13,237 13,218 13,165

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 193U-19U8: See the following Annual Reports: 1950, pp. 252-253, and 1941, pp. 160-161.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BY CLASS OF BANK

(Amounts in thousands of dollars)

Table 114. E a r n in g s , E x p e n s e s , a n d D iv id e n d s of- I n s u r e d C o m m e r c ia l B a n k s in t h e ^

U n it e d Sta t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), 1957 to

Earnings or expense item Total

Members F. R. System Not

members Operating 

throughout 

the year

Operating 

less than 

full year1 National State

F. R.

System

Current operating earnings— tota l......................................................................... 8,050,416 4,269,757 2,500,187 1,280,472 7,975,475 74,941

Interest on U. S. Government obligations............................................................... 1,442,379 779,478 387,949 274,952 1,431,428 10,951

Interest and dividends on other securities............................................................... 412,497 224,808 114,565 73,124 409,894 2,603

Interest and discount on loans.................................................................................. 4,879,676 2,622,784 1,512,772 744,120 4,852,086 27,590

Service charges and fees on bank’s loans................................................................. 83,815 44,710 27,088 12,017 82,854 960

Service charges on deposit accounts......................................................................... 440,892 243,158 111,029 86,705 437,306 3,586

Other service charges, commissions, fees, and collection and exchange charges . 186,815 78,944 57,606 50,265 185,672 1,143

Trust department........................................................................................................ 354,520 129,390 210,801 14,329 329,217 25,304

Other current operating earnings.............................................................................. 249,828 146,485 78,378 24,965 247,022 2,806

Current operating expenses—tota l......................................................................... 5,119,182 2,697,194 1,524,336 897,652 5,067,874 51,308

773,769 384,736

779,512

207,535 181,498 765,747 8,022

Salaries and wages—employees................................................................................. 1,493,778 505,293 208,973 1,476,946 16,832

Fees paid to directors and members of executive, discount, and other committees 45,396 20,686 10,164 14,546 45,039

1,134,144

357

Interest on time and savings deposits...................................................................... 1,141,715 633,361 293,320 215,034 7,571

Interest and discount on borrowed money.............................................................. 49,538 27,865 20,010 1,663 49,436 102

205,903 116,022 56,130 33,751 204,686 1,217

Recurring depreciation on banking house, furniture and fixtures.........................

Other current operating expenses..............................................................................

146,262 79,062 37,998 29,202 144,848 1,414

1,262,823 655,950 393,886 212,987 1,247,030 15,793

Net current operating earnings............................................................................... 2,931,235 1,572,563 975,851 382,821 2,907,601 23,634

Recoveries, transfers from reserve accounts, and profits—total...................

On securities:

198,413 91,162 78,771 28,480 195,901 2,512

9,295 4,218 3,972 1,105 9,104 191

Transfers from reserve accounts ........... . . . . 20,751

64,368

14,266 5,079

26,383

1,406

7,207

20,751

Profits on securities sold or redeemed.................................................................. 63,663

On loans:

30,778 705

21,183 9,400 4,634 7,149 20,640 542

Transfers from reserve accounts............................................................................ 39,757 15,128 21,720 2,909 39,742 16

43,063 17,372 16,984 8,707 42,004 1,059

Losses, charge-offs, and transfers to reserve accounts—total........................

On securities:

757,432 392,304 262,748 102,380 753,036 4,396

Losses and charge-offs............................................................................................ 237,480 118,870 88,031 30,579 235,918 1,562

Transfers to reserve accounts................................................................................

On loans:

84,996 37,937 40,332 6,727 84,952 44

Losses and charge-offs............................................................................................ 25,636 11,651 4,023 9,962

40,983

25,081 555

Transfers to reserve accounts................................................................................ 321,870 176,832 104,055 320,944 926

87,452 47,014 26,307 14,131 86,142 1,310

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before incom e taxes...........................................................................

Taxes on net incom e—tota l.................................................................................

Federal.....................................................................................................................

State.........................................................................................................................

Net profits after incom e taxes.............................................................................

Dividends and interest on capital—total.........................................................

Dividends declared on preferred stock and interest on capital notes and

debentures............................................................................................................

Cash dividends declared on common stock.........................................................

Net additions to capital from profits................................................................

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities............................................................................................................

On loans...................................................................................................................

Losses charged to reserve accounts (not included in losses above):

On securities............................................................................................................

On loans...................................................................................................................

Average assets and liabilities2

Assets—total.............................................................................................................

Cash and due from banks......................................................................................

United States Government obligations................................................................

Other securities.......................................................................................................

Loans and discounts...............................................................................................

All other assets........................................................................................................

Liabilities and capital—tota l...............................................................................

Total deposits..........................................................................................................

Demand deposits...................................................................................................

Time and savings deposits...................................................................................

Borrowings and other liabilities............................................................................

Total capital accounts............................................................................................

Number of active officers, December 31..................................................................

Number of other employees, December 31..............................................................

Number of banks, December 31...............................................................................

2,372,217

998,397

947,998

50,401

1,373,821

678,101

2,234

675,867

695,720

2,646

50,824

74,529

117,937

1,271,421

543,894

521,373

22,521

727,527

363,104

103

363,001

364,423

1,588

29,390

32,147

62,561

791,875

350,617

327,302

23,315

441,258

240,643

1,382

239,261

200,615

511

14,283

39,247

38,050

308,921

103,886

99,323

4,565

205,036

74,354

749

73,605

130,682

547

7,151

3,135

17,326

2,350,468

987,924

938,440

49,486

1,362,544

671,988

2,232

669,757

690,556

2,646

50,565

74,529

117,535

21,749

10,473

9,558

915

11,276

6,113

2

6,111

5,164

259 

‘ 402

214,790,440

45,474,318

57,238,574

16,725,206

91,493,989

3,858,353

116,652,462

25,439,050

31,048,932

9,188,996

48,957,986

2,017,498

66,722,410

14,865,776

15,767,091

4,479,524

30,174,382

1,435,637

31,415,568

5,169,492

10,422,551

3,056,686

12.361,621

405,218

214,790,440

193,993,484

139,023,597

54,969,887

4,242,293

16,554,663

116,652,462

105,747,173 

75,805,287

29,91*1,886

2,157,985 

8,747,304

66,722,410

59,605,780

45,101,210

14,504,570

1,777,842

5,338,788

31,415,568

28,640,531

18,117,100

10,523,431

306,466

2,468,571

91,597

452,218

43,510

238,400

19,884

139,891

28.203

73,927

91,194

449,613

403

2,605

13,165 4,620 1,769 6,776 13,084

Note: Due to rounding differences, earnings data of State banks may not add precisely to the indicated totals.

1 Includes banks operating less than full year and a few banks which engage primarily in fiduciary business.

2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1934-1956: See Table 112, pp. 118-119, the Annual Report for 1956, pp. 120-121, and earlier reports. to

COEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BY CLASS OF BANK

T a b le 1 1 5 . R a t io s of E a r n in g s, E x p e n s e s , a n d D iv id e n d s o f I n s u r e d C o m m e r c ia l B a n k s in th e

U n it e d S ta t e s (C o n t in e n t a l U. S. a n d O th e r A r e a s), 1957

Earnings or expense item Total

Members F. R. System Not

members

National State

F. R.

System

Amounts per $100 of current operating earnings

Current operating earnings— total.................................................................................................................

Interest on United States Government obligations.........................................................................................

$100.00

17.92

$100.00

18.26

$100.00

15.52

$100.00

21.47

5.71

59.05

6.77

Interest, and dividends on other securities....................................................................................................... 5.12 5.27 4.58

Income on loans................................................................................................................................................... 61.65 62.47 61.59

Service charges on deposit accounts.................................................................................................................. 5.48 5.69 4.44

Other service charges, commissions, fees, and collection and exchange charges.......................................... 2.32 1.85 2.30 3.93

Other current operating earnings....................................................................................................................... 7.51 6.46 11.57 3.07

Current operating expenses— total............................................................. ............................................. 63.59 63.17 60.97 70.10

Salaries, wages, and fees..................................................................................................................................... 28.73 27.75 28.92 31.63

Interest on time and savings deposits............................................................................................................... 14.18 14.83 11.73 16.79

Taxes other than on net income........................................................................................................................ 2.56 2.72 2.25 2.64

Recurring depreciation on banking house, furniture and fixtures................................................................. 1.82 1.85 1.52 2.28

Other current operating expenses...................................................................................................................... 16.30 16.02 16.55 16,76

Net current operating earnings..................................................................................................................... 36.41 36.83 39.03 29.90

Amounts per $100 of total assets1

Current operating earnings—total......................................................................................................................... 3.74 3.66 3.74 4.08

2.86

1.22

.09

.33

.98

.65

Current operating expenses—total........................................................................................................................ 2.38 2.31 2.28

Net current operating earnings.............................................................................................................................. 1.36 1.35 1.46

Recoveries, transfers from reserve accounts, and profits—total....................................................................... .09 .08 .12

Losses, charge-offs, and transfers to reserve accounts—total............................................................................ .85 .34 .39

Net profits before income taxes............................................................................................................................. 1.10 1.09 1.19

Net profits after income taxes................................................................................................................................ .64 .62 .66

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities......................................................................................................................................................... (2)

.02

(2)

.03

(2)

.02

.06

(2)

.02

.01

.06

On loans................................................................................................................................................................

Losses charged to reserve accounts (not included in losses above):

On securities......................................................................................................................................................... .03 .03

On loans................................................................................................................................................................ .05 .05 .06

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Amounts per $100 of total capital accounts1

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

Recoveries, transfers from reserve accounts, and profits—total........................................................................

Losses, charge-offs, and transfers to reserve accounts—total............................................................................

Net profits before income taxes.............................................................................................................................

Taxes on net income...............................................................................................................................................

Net profits after income taxes...............................................................................................................................

Cash dividends declared.........................................................................................................................................

Net additions to capital from profits....................................................................................................................

17.71

1.20

4.58

14.33

6.03

8.30

4.10

4.20

17.98

1.04

4.48

14.54

6.22

8.32

4.15

4.17

18.28

1.47

4.92

14.83

6.56

8.27

4.51

3.76

15.51

1.15

4.15

12.51 

4.21 

8.30 

3.01 

5.29

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities................................................................................................................................

On loans..........................................................................................................................................

.02

.31

.02

.34

.01

.27

.74

.02

.29

.13

Losses charged to reserve accounts (not included in losses above):

On securities....................................................................................................................................................... .45 .37

On loans.............................................................................................................................................. . . .71 .72 .71 .70

Special ratios1

Income on loans per $100 of loans...................................................................................................................... 5.42 5.45 5.10 6.12

Income on U. S. Government obligations per $100 of U. S. Government obligations................................... 2.52 2.51 2.46 2.64 Income on other securities per $100 of other securities...................................................................................... 2.47 2.45 2.56 2.39 Service charges per $100 of demand deposits...................................................................................................... .32 .32 .25 .48 Interest paid per $100 of time and savings deposits........................................................................................... 2.08 2.12 2.02 2.04

Assets and liabilities per $100 of total assets1

Assets—total........................................................................................................................................................ 100.00 100.00 100.00 100.00 Cash and due from banks................................................................................................................................ 21.17 21.81 22.28 16.45 United States Government obligations............................................................................................................. 26.65 26.61 23.63 33.18 Other securities............................................................................................................................... 7.79 7.88 6.71 9.73 Loans and discounts...................................................................................................................... 42.60 41.97 45.23 39.35 All other assets................................................................................................................................... 1.79 1.73 2.15 1.29

Liabilities and capital—total........................................................................................................................... 100.00 100.00 100.00 100.00 Total deposits...................................................................................................................................................... 90.32 90.65 89.34 91.17 Demand deposits............................................................................................................................................... 64.73 64-98 67.60 57.67 Time deposits.................................................................................................................................................... 25.59 25.67 21.74. 33.50 Borrowings and other liabilities........................................................................................................... 1.97 1.85 2.66 .97 Total capital accounts....................................................................................................................... 7.71 7.50 8.00 7.86

Number of banks, December 31.......................................................................................................................... 13,165 4,620 1,769 6,776

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

2 Less than .005.

Back figures, 1934-1956: See Table 113, pp. 120-121, the Annual Report for 1956, pp. 122-123, and earlier reports.

to

Oi EARNINGS. EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 116. E a r nin g s, E xp e n se s, and D ividends of I nsured C ommercial Ban ks Operating T hroughout 1957 

in the U nited States (Continental U. S. and Other A reas)

b ank s grouped according to am ount of deposits

Banks with deposits of—2

Earnings or expense item All

banks1 Less

than

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

$100,000,000

to

$500,000,000

$500,000,000

or

more

Current operating earnings—total............. 7,975,475 46,199 168,392 567,858

(Amount

624,062

;s in thousanc 

860,625

Is of dollars) 

606,940 601,996 1,664,205 2,835,200

Interest on U. S. Government obligations. . . 1,431,428 10,951 41,480 136,799 140,540 185,153 126,414 117,752 284,977 387,362

Interest and dividends on other securities. . . 409,894 1,846 7,761 33,535 39,891 49,022 33,097 32,291 79,114 133,338

Interest and discount on loans...................... 4,852,086 27,654 99,024 331,074 362,241 495,924 348,990

5,794

354,337

5,719

1,005,753 1,827,090

Service charges and fees on bank’s loans.... 82,854 191 726 2,875 4,562 8,081 17,095 37,813

Service charges on deposit accounts.............. 437,306 2,209 8,225 33,215 44,922 67,612 44,713 37,422 86,171 112,819

Other service charges, commissions, fees, 

and collection and exchange charges........ 185,672 2,727 8,491 19,723 16,635 20,066 13,686 12,380 31,625 60,339

329,217 4 237 892 3,619 14,058 15,089 22,569 98,759 173,990

Other current operating earnings.................. 247,022 622 2,448 9,745 11,652 20,711 19,157 19,528 60,710 102,449

Current operating expenses—total............. 5,067,874 31,778 113,884 387,553 428,065 596,738 421,730 403,413 1,061,889 1,622,824

Salaries—officers.............................................. 765,747 12,722 37,582 99,180

73,811

86,108 98,302 61,720 56,438 135,757 177,938

Salaries and wages—employees..................... 1,476,946 3,949 17,151 97,737 155,728 117,415 119,306 342,939 548,913

Fees paid to directors and members of executive, discount, and other committees....... 45,039 923 3,256 10,037 7,964 7,678 3,659 2,837 4,996 3,690

Interest on time and savings deposits.......... 1,134,144 4,816 22,591 89,520 104,405 142,797 100,703 85,441 203,069 380,803

Interest and discount on borrowed money. . 49,436 45 139 640 783 1,326 1,797 2,349 12,995 29,361

Taxes other than on net income.................... 204,686 1,439 5,192 15,955 17,219 22,638 16,429 16,973 46,021 62,822

Recurring depreciation on banking house, 

furniture and fixtures.................................. 144,848 738 3,162 13,221 15,732 22,009 14,558 12,971 29,539 32,920

Other current operating expenses.................. 1,247,030 7,148 24,811 85,190 98,117 146,262 105,451 107,098 286,574 386,379

Net current operating earnings................... 2,907,601 14,420 54,509 180,306 195,996 263,887 185,209 198,583 602,316 1,212,375

Recoveries, transfers from reserve ac­ 12,265 15,566 51,421 73,088 counts, and profits—total...................... 195,901 1,210 3,794 11,413 11,316 15,830

On securities:

9,104 19 122 635 868 874 436 1,151 2,252 2,745

Transfers from reserve accounts................ 20,751 25 50 330 557 1,277 1,199 1,993 6,078 9,243

Profits on securities sold or redeemed. . . . 63,663 77 368 1,667 2,167 4,582 4,408 4,647 17,659 28,088

On loans: 20,640 880 2,263 5,146 3,276 1,900 791 1,003 3,840 1,539

Transfers from reserve accounts................ 39,742 30 315 941 1,610

2,838

2,572 1,712 3,247 8,982 20,334

42,004 178 676 2,693 4,626 3,718 3,524 12,612 11,139

Losses, charge-off8, and transfers to re56,954 60,509 151,510 293,516 serve accounts—total.............................. 753,036 2,962 11,544 44,532 56,565 74,944

On securities: 235,918 353 1,953 12,386 18,646 26,028 20,486 19,310 43,737 93,020

Transfers to reserve accounts 49,073 .................... 84,952 83 489 1,373 2,603 3,550 2,841 5,192 19,749

On loans:

Losses and charge-offs................................. 25,081 1,499 3,631 7,912 5,326 2,826 1,023 895 1,502 469

Transfers to reserve accounts.................... 320,944 652 3,722 15,602 22,557 32,339 25,592 27,279 64,849 128,353

86,142 376 1,751 7,260 7,433 10,203 7,013 7,833 21,673 22,602

126 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before income taxes...................

Taxes on net income— total..........................

Federal..............................................................

State..................................................................

Net profits after income taxes......................

Dividends and interest on capital—total..

Dividends declared on preferred stock and 

interest on capital notes and debentures. . 

Cash dividends declared on common stock..

Net additions to capital from profits........

2,350,468 12,669 46,758 147,186 150,747 204,773 140,520 153,639 502,228 991,946

987,924

938,440

49,486

3,474

3,329

148

12,999

12,437

563

43,447

41,774

1,673

50,153

48,512

1,641

76,237

73,736

2,501

58,045

56,047

1,997

65,133

62,827

2,307

227,613

218,932

8,681

450,825

420,847

29,977

1,362,544 9,194 33,760 103,740 100,594 128,536 82,476 88,506 274,615 541,122

671,988

2,232

669,757

3,297

3

3,294

11,538

18

11,521

37,599

Q?

37,507

38,728

73

38,655

49,322

253

49,069

35,572

214

35,359

40,244

333

39,911

134,830

1,246

133,583

320.859

320.859

690,556 5,899 22,222 66,141 61,866 79,214 46,904 48,262 139,785 220,262

Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities.....................................................

On loans............................................................

Losses charged to reserve accounts (not included in losses above):

On securities.....................................................

On loans............................................................

2,646

50,565

74,529

117,535

2

206

3

326

8

909

81

2,053

33

3,836

258

8,071

68

4,822

656

10,406

143

5,680

1,530

13,194

285

3,495

1,135

9,672

172

3,838

3,620

9,174

1,254

7,584

15,209

23,732

683

20,195

52,037

40,907

Assets and liabilities2

Assets—total......................................................

Cash and due from banks..............................

United States Government obligations.........

Other securities................................................

Loans and discounts........................................

All other assets................................................

Liabilities and capital—total........................

Total deposits..................................................

Demand.........................................................

Time and savings deposits...........................

Borrowings and other liabilities....................

Total capital accounts....................................

220,951,365

48,099,496

57.530.392 

17,601,911

93.580.392 

4,139,174

1,195,381

251,958

421,904

81,314

432,952

7,253

4,464,671

874,293

1,591,888

352,425

1,610,644

35,421

15,514,925

2,986,139

5,241,349

1,559,134

5,564,928

163,380

16,770,510

3,159,423

5,394,989

1,842,722

6,168,230

205,146

22,870,401

4,275,184

7,213,090

2,299,923

8,734,396

347,808

16,336,469

3,119,498

5,081,189

1,534,070

6,337,581

264,131

16,480,930

3,459,523

4,698,602

1,437,915

6,615,763

269,127

46,035,015

10,958,614

11,443,695

3,290,162

19,554,590

787,954

81,283,063

19,014,864

16,443,686

5,204,246

38,561,313

2,058,954

220,951,365

200,014,822

14.2,527,237

57,487,585

3,930,155

17,006,388

1,195,381

1,059,633

789,711

269,922

3,187

132,561

4,464,671

4,011,882

2,748,390

1,263,492

17,090

435,699

15,514,925

14,121,711

9,192,411

4,929,300

70,120

1,323,094

16,770,510

15,357,132

9,665,888

5,691,244

112,928

1,300,450

22,870,401

21,007,779

13,208,145

7,799,634

227,235

1,635,387

16,336,469

15,044,004

9,725,662

5,318,342

188,240

1,104,225

16,480,930

15,118,456

10,656,672

4,461,784

220,729

1,141,745

46,035,015

42,053,832

31,879,513

10,174,319

681,714

3,299,469

81,283,063

72,240,393

54,660,845

17,579,548

2,408,912

6,633,758

Number of active officers, December 31..........

Number of other employees, December 3 1 ... .

91,194

449,613

3,426

2,285

7,805

8,002

16,587

29,220

11,851

34,718

11,599

52,842

6,576

38,561

5,631

38,785

12,389

103,655

15,330

141,545

Number of banks, December 31........................ 13,084 1,489 2,732 4,379 2,191 1,390 442 217 198 46

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 This group of banks is the same as the group shown in Table 114 under the heading “ Operating throughout the year.”

2 Asset and liability items are as of December 31, 1957.

Back figures, 1941-1956: See the Annual Report for 1956, pp. 124-125, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS 00

Table 117. R a t io s o f E a r n in g s, E x p e n s e s , a n d D iv id e n d s o f I n s u r e d C o m m e r c ia l B a n k s O p e r a t in g T h r o u g h o u t 1957

in t h e U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s )

Banks with deposits of—2

Earnings or expense item All

banks1 Less

than

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

$100,000,000

to

$500,000,000

$500,000,000

or

more

Amounts per $100 of current

operating earnings

Current operating earnings—total............. $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Interest on U. S. Government obligations. . 17.95 23.70 24.63 24.09 22.52 21.51 20.83 19.56 17.13 13.66

Interest and dividends on other securities. . 5.14 4.00 4.61 5.91 6.39 5.70 5.45 5.36 4.75 4.70

Income on loans............................................... 61.88 60.27 59.24 58.81 58.78 58.56 58.45 59.81 61.46 65.78

Service charges on deposit accounts............. 5.48 4.78 4.89 5.85 7.20 7.86 7.37 6.22 5.18 3.98

Other service charges, commissions, fees, and

collection and exchange charges................ 2.06 1.90 2.13

Other current operating earnings..................

2.33 5.90 5.04 3.47 2.66 2.33 2.26

7.22 1.35 1.59 1.87 2.45 4.04 5.64 6.99 9.58 9.75

Current operating expenses—total............. 63.54 68.79 67.63 68.25 68.59 69.34 69.48 67.01 63.81 57.24

Salaries, wages, and fees................................ 28.68 38.08 34.44 32.23 30.73 30.41 30.12 29.67 29.06 25.77

Interest on time and savings deposits.......... 14.22 10.42 13.41 15.76 16.73 16.59 16.59 14.19 12.20 13.43

Taxes other than on net income.................... 2.57 3.12 3.08 2.81 2.76 2.63 2.70 2.82 2.77 2.22

Recurring depreciation on banking house,

furniture and fixtures.................................. 1.82 1.60 1.88 2.33 2.52 2.56 2.40 2.15 1.78 1.16

Other current operating expenses.................. 16.25 15.57 14.82 15.12 15.85 17.15 17.67 18.18 18.00 14.66

Net current operating earnings................... 36.46 31.21 32.37 31.75 31.41 30.66 30.52 32.99 36.19 42.76

Amounts per $100 of total assets2

Current operating earnings—total....................

Current operating expenses—total....................

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

3.61 3.86 3.77 3.66 3.72 3.76 3.71 3.65 3.62 3.49

2.29 2.65 2.55 2.50 2.55 2.61 2.58 2.45 2.31 2.00

1.32 1.21 1.22 1.16 1.17 1.15 1.13 1.20 1.31 1.49

Recoveries, transfers from reserve accounts,

and profits—total........................................ .08 .10 .09 .07 .07 .07 .08 .09 .11 .09

Losses, charge-offs, and transfers to reserve

.36 .33 .36 accounts—total............................................ .34 .25 .26 .28 .34 .32 .35

Net profits before income taxes......................... 1.06 1.06 1.05 .95 .90 .90 .86 .93 1.09 1.22

Net profits after income taxes........................... .62 .77 .76 .67 .60 .56 .50 .54 .60 .67

Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

(3) (3) (3) (3) (3) (3) (3) (8) (3) (3)

.02 .02 .02 .02 .03 .02 .02 ,02 .02 .02

Losses charged to reserve accounts (not included in losses above):

.03 .02 .03 .06 (3) (3) (3) (3) .01 .01

On loans............................................................ .05 .03 .05 .05 .06 .06 .06 .06 .05 .05

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Am ounts per $100 of total capital 

accounts2

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

Recoveries, transfers from reserve accounts,

and profits—total........................................

Losses, charge-offs, and transfers to reserve accounts—total................................................

Net profits before income taxes.........................

Taxes on net income...........................................

Net profits after income taxes...........................

Cash dividends declared.....................................

Net additions to capital from profits................

17.10

1.15

4.43

13.82

5.81

8.01

3.95

4.06

10.88

.91

2.23

9.56

2.62

6.94

2.49

4.45

12.51

.87

2.65 

10.73

2.98

7.75

2.65 

5.10

13.63

.86

3.37

11.12

3.28

7.84

2.84 

5.00

15.07

.87

4.35

11.59

3.85

7.74

2.98

4.76

16.14

.96

4.58

12.52

4.66

7.86

3.02

4.84

16.77

1.11

5.15

12.73

5.26

7.47

3.22

4.25

17.39

1.36

5.29

13.46

5.71

7.75

3.52

4.23

18.25

1.56

4.59

15.22

6.90

8.32

4.08

4.24

18.27

1.10

4.42

14.95

6.79

8.16

4.84

3.32

_ Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities..................................................... .02 (3) (8) (3) .01 .01 .03 .02 .04 .01 On loans............................................................

Losses charged to reserve accounts (not in­

.30 .16 .21 .29 .37 .35 .32 .34 .23 .30

cluded in losses above):

On securities..................................................... .44 (*) .02 .02 .05 .09 .10 .32 .46 .78 On loans............................................................ .69 .25 .47 .61 .80 .81 .88 .80 .72 .62

Special ratios2

Income on loans per $100 of loans....................

Income on U. S. Government obligations per

5.27 6.43 6.19 6.00 5.95 5.77 5.60 5.44 5.23 4.84

$100 of U. S. Government obligations___

Income on other securities per $100 of other

2.49 2.60 2.61 2.61 2.61 2.57 2.49 2.51 2.49 2.36

securities....................................................... 2.33 2.27 2.20 2.15 2.16 2.13 2.16 2.25 2.40 2.56 Service charges per $100 of demand deposits. . 

Interest paid per $100 of time and savings

.31 .28 .30 .36 .46 .51 .46 .35 .27 .21

deposits......................................................... 1.97 1.78 1.79 1.82 1.83 1.83 1.89 1.91 2.00 2.17

Assets and liabilities per $100 of 

total assets8

Assets—tota l...................................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Cash and due from banks.............................. 21.77 21.08 19.58 19.25 18.84 18.69 19.10 20.99 23.80 23.40 United States Government obligations........ 26.04 35.29 35.66 33.78 32.17 31.54 31.10 28.51 24.86 20.23 Other securities................................................ 7.97 6.80 7.89 10.05 10.99 10.06 9.39 8.73 7.15 6.40 Loans and discounts........................................ 42.35 36.22 36.08 35.87 36.78 38.19 38.79 40.14 42.48 47.44 All other assets................................................ 1.87 .61 .79 1.05 1.22 1.52 1.62 1.63 1.71 2.53

Liabilities and capital—total........................ 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total deposits.................................................. 90.52 88.64 89.86 91.02 91.57 91.86 92.09 91.73 91.35 88.88 Demand deposits........................................... 64.50 66.06 61.56 59.25 57.64 57.75 59.53 64.66 69.25 67.25 Time deposits................................................ 26.02 22.58 28.30 31.77 33.93 34.11 32.56 27.07 22.10 21.63 Borrowings and other liabilities.................... 1.78 .27 .38 .45 .67 .99 1.15 1.34 1.48 2.96 Total capital accounts.................................... 7.70 11.09 9.76 8.53 7.76 7.15 6.76 6.93 7.17 8.16

Number of banks, December 31........................ 13,084 1,489 2,732 4,379 2,191 1,390 442 217 198 46

1 This group of banks is the same as the group shown in Table 114 under the heading “ Operating throughout the year.” These ratios differ slightly from the ratios for all insured 

commercial banks shown in Tables 113 and 115.

2 Asset and liability items are as of December 31, 1957.

* Less than .005.

Back figures, 1941-1956: See the Annual Report for 1956, pp. 126-127, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars)__________________________________________________________________________ i—i 

______________________________________________________________________________ _________________________________________________________________________ CO

T a b le 1 1 8 . E a r n in g s , E x p e n s e s , a n d D iv id e n d s of I n s u r e d C o m m e r c ia l B a n k s in t h e

U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), b y St a t e , 1957

U. S.

(continental

Other areas

Continental ConnecEarnings or expense item U. S.and ticut other 

areas) Alaska Puerto

Rico Other1

United

States

Alabama Arizona Arkansas California Colorado

Current operating earnings—total.............

Interest on U. S. Government obligations.. . 

Interest and dividends on other securities...

Interest and discount on loans......................

Service charges and fees on bank’s loans....

Service charges on deposit accounts.............

Other service charges, commissions, fees, 

and collection and exchange charges........

8,050,416

1,442,379

412,497

4,879,676

83,815

440,892

186,815

354,520

249,828

7,358

1,415

296

3,882

359

524

726

43

13,741

857

1,028

9,165

443

310

1,721

9

3,097

605

177

1,684

103

207

238

1

8,026,220

1,439,502

410,996

4,864,945

82,910

439,851

184,130

354,467

72,935

13,455

4,817

43,759

1,104

4,235

2,003

1,660

45,229

5,276

1,775

29,837

1,132

3,577

953

823

39,600

8,042

3,296

22,235

66

2,429

2,193

363

917,534

133,505

42,907

584,884

18,389

68,746

17,254

27,818

70,270

13,864

1,958

41,879

848

6,480

1,425

2,398

97,627

15,828

5,014

55,791

506

6,662

1,952

8,912

115 207 85 249,421 1,902 1,859 978 24,032 1,420 2,961

Current operating expenses— total............. 5,119,182

773,769

1,493,778

45,396

1,141,715

49,538

205,903

146,262

1,262,823

5,230

1,014

1,704

29

715

11,221 2,403 5,100,328

770,962

46,620 31,447 26,452 634,386 45,681 66,945

1,445 348 9,069 4,542 6,479 66.565 8,392 10,873

Salaries and wages—employees..................... 3,086

144

2,618

199

680 1,488,308

45,172

1,137,707

49,338

205,009

145,583

12,209 9,989 6,032 180,298 12,963 21,706

Fees paid to directors and members of executive, discount, and other committees........

Interest on time and saving deposits............

Interest and discount on borrowed money. .

Taxes other than on net income....................

Recurring depreciation on banking house, 

furniture and fixtures..................................

51

675

1

528

10,090

176

84

5,424

146

577

4,258

37

1,052

236,537

3,590

610

9,107

421

607

10,500

632

132

276

707

336

55

67

851

1,504

12,194

787

1,290

1,066

944

21,708

12,300

796

1,295

2,099

1,995

Other current operating expenses.................. 1,361 2,687 526 1,258,249 9,186 7,059 112,337 12,096 18,532

Net current operating earnings................... 2,931,235 2,128 2,520 694 2,925,893 26,315 13,782 13,149 283,147 24,590 30,683

Recoveries, transfers from reserve accounts, and profits—total.................. 198,413

9,295

20,751

64,368

21,183

39,757

43,063

427 259 60 197,667

9,294

20,751

1,667 332 962 21,246 2,189 1,912

On securities:

Recoveries................................................... 1 33 23 1,186 553 44

Transfers from reserve accounts ............ 62 58 1,389 85

Profits on securities sold or redeemed. . . . 

On loans:

Recoveries...................................................

299 194 63,875 832 219 339 4,306 469 743

83 14 46 21,040

39,718

42,991

399 301 879 523 157

Transfers from reserve accounts................ 1 27 11 107 24 131 9,897 335 251

All other........................................................... 43 25 4 235 89 109 3,589 309 634

Losses, charge-offs, and transfers to reserve accounts—total.............................. 757,432

237,480

84,996

25,636

321,870

87,452

603 711 184 755,934

237,388

7,112 3,121 3,559 60,426 13,945 9,145

On securities:

Losses and charge-offs................................. 37 8 47 1,613 1,198 1,418 9,764 2,352 2,110

Transfers to reserve accounts. . . 145 24 84,827

25,501

159 108 9,913 75 929

On loans:

Losses and charge-offs................................. 106 16 13 610 58 543 1,035 388 160

Transfers to reserve accounts.................... 423 372 86 320,989 3,947 1,590 1,099 32,182 3,299 4,015

All other............................................................ 37 170 14 87,231 784 275 390 7,533 7,832 1,931

Net profits before income taxes................... 2,372,217 1,952 2,068 571 2,367,626 20,870 10,992 10,551 243,967 12,833 23,450

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— to ta l..........................

Federal..............................................................

State..................................................................

Net profits after incom e taxes......................

Dividends and interest on capital—total..

Dividends declared on preferred stock and 

interest on capital notes and debentures. . 

Cash dividends declared on common stock. .

Net additions to capital from profits........

998,397

947,998

50,401

542

533

9

261

208

54

173

173

997,421

947,084

50,338

8,093

7,222

871

5,415

5,080

335

2.976

2.976

109,941

101,134

8,807

8,799

8,132

667

9,400

8,254

1,146

1,373,821 1,410 1,807 399 1,370,205 12,777 5,577 7,575 134,027 4,035 14,050

678,101

2,234

675,867

276 1,001 119 676,705

2,234

674,471

5,436 2,987 3,038 81,263

52

81,211

4,810 8,359

276 1,001 119 5,436 2,987 3,038 4,810 8,359

695,720 1,134 806 280 693,500 7,341 2,590 4,538 52,764 -775 5,692

Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities..................................................... 2,646

50,824

74,529

117,937

2,646

50,523

74,529

117,405

4

190

7

604

690

7,904

11,083

14,460

8

1,227

72

2,029

12

421

811

2,119

On loans............................................................

Losses charged to reserve accounts (not included in losses above):

On securities...........................................

93 208 494

10

1,427

573

On loans.................................................. 116 389 27 1,321

Average assets and liabilities2

Assets— tota l....................................................

Cash and due from banks..............................

United States Government obligations........

Other securities..............................................

Loans and discounts......................................

Ail other assets......................................

Liabilities and capital— total.......................

Total deposits............................................

Demand deposits.....................................

Time and savings deposits.....................

Borrowings and other liabilities....................

Total capital accounts..................................

214,790,440

45,474,318

57,238,574

16,725,206

91,493,989

3,858,353

150,798

28,729

55,308

13,395

50,498

2,868

267,182

38,270

36,906

39,327

142,648

10,031

72,102

12,536

22,991

6,279

28,907

1,389

214,300,358

45,394,783

57,123,369

16,666,205

91,271,936

3,844,065

1,889,591

437,911

511,262

209,384

704,220

26,814

943,149

168,509

205,560

67,100

473,375

28,605

1,129,818

278,852

317,755

135,037

384,915

13,259

21,875,318

3,799,056

5,285,145

1,644,043

10,667,993

479,081

1,775,677

424,536

534,122

83,823

713,359

19,837

2,397,445

458,911

642,838

255,815

1,000,886

38,995

214,790,440

193,993,484 

139,023,597

5 k,969,887

4/242,293 

16,554,663

150,798

141,988 

91,516

50,1+72

712 

8,098

267,182

235,506 

120,926

11 k,580

10,519 

21,157

72,102

66,598 

3U, 586

32,012

695 

4,809

214,300,358

193,549,392 

138,776,569

5k,772,.823

4,230,367 

16,520,599

1,889,591

1,722,045

1,301,098

k20,9k7

19,344

148,202

943,149

863,109

610,892

252,217

17,311

62,729

1,129,818

1,030,436 

832,2k0

198,196

5,290 

94,092

21,875,318

19,874,455

10,918,k86

8,955,969

603,030

1,397,833

1,775,677

1,626,710 

1,205,116

k21,59k

21,535 

127,432

2,397,445

2,178,566

l,656,0kk

522,522

33,601

185,278

Number of active officers, December 31..........

Number of other employees, December 31. . .

91,597

452,218

92

391

258

1,291

45

243

91,202

450,293

1,200

4,395

525

3,093

1,041

2,291

7,523

48,140

1,023

4,193

1,043

6,678

Number of banks, December 31.................. 13,165 13 7 5 13,140 239 6 232 122 157 77

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Includes 3 banks in Hawaii, and 2 banks in the Virgin Islands.

„ 2 Asset and liability items are averages of figures reported at beginning, middle, and end of year, adjusted to exclude data for 2 insured branches in Guam of an insured bank in 

California and 12 insured branches in Puerto Rico of insured banks in New York; earnings data of these branches are not available.

Back figures, 191+6-1956: See the Annual Report for 1956, pp. 128-137, and earlier reports. CO

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 118. E a r n in g s , E x p e n se s, an d D iv id e n d s o f In s u r e d C o m m e r cia l B a n k s in t h e 

U n it e d S t a t e s (C o n t in e n t a l U. S. and O t h e r A r e a s ), b y S ta te , 1957—Continued

(Amounts in thousands of dollars)

Earnings or expense item

Current operating earnings—to ta l. . . . . .

Interest on U. S. Government obligations.. 

Interest and dividends on other securities..

Interest and discount on loans....................

Service charges and fees on bank’s loans...

Service charges on deposit accounts............

Other service charges, commissions, fees 

and collection and exchange charges. .

Trust department......................................

Other current operating earnings............

Current operating expenses—to ta l...

Salaries—officers....................................

Salaries and wages—employees............

Fees paid to directors and members of execu 

tive, discount, and other committees. . .

Interest on time and saving deposits........

Interest and discount on borrowed money

Taxes other than 011 net income. ..............

Recurring depreciation on banking house,

furniture and fixtures........................

Other current operating expenses........

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

Recoveries, transfers from reserve ac 

counts, and profits— total................

On securities:

Recoveries...................................................

Transfers from reserve accounts..............

Profits on gecurities sold or redeemed. . . 

On loans:

Recoveries...................................................

Transfers from reserve accounts..............

All other..........................................................

Losses, charge-offs, and transfers to reserve accounts— tota l..............................

On securities:

Losses and charge-offs................................

Transfers to reserve accounts....................

On loans:

Losses and charge-offs................................

Transfers to reserve accounts....................

All other...........................................................

Net profits before incom e taxes.

Delaware District of 

Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana

27,921 53,210 156,659 114,358 25,024 561,882 161,983 105,297 76,982 77,857 100,801

5,167 11,212 36,559 17,638 5,119 134,667 42,944 24,378 18,643 18,015 23,733

912 1,577 7,174 4,357 701 34,738 6,120 5,570 6,014 3,353 6,291

16,286 30,613 85,173 71,171 15,257 310,457 91,784 62,390 41,726 47,064 56,106

438 498 2,399 1,531 357 5,146 985 354 319 582 510

622 3,663 13,089 7,362 2,388 22,688 7,697 6,707 5,927 3,133 5,857

227 1,391 4,061 4,948 560 10,792 3,559 2,804 1,502 1,098 4,071

3,994 2,984 3,480 3,410 119 30,629 3,994 1,017 650 2,917 778

276 1,272 4,725 3,942 523 12,765 4,899 2,077 2,202 1,695 3,455

15,809 35,790 105,949 78,903 17,008 332,636 106,967 68,939 48,923 46,925 66,420

2,946 5,383 15,867 13,792 2,975 51,993 18,495 17,581 13,024 10,227 11,040

5,259 11,286 29,799 20,124 4,203 96,994 29,674 14,768 11,187 12,058 17,436

248 408 1,142 1,011 97 2,964 1,416 768 796 871 890

1,940 7,493 22,271 13,597 5,026 72,034 21,125 14,250 7,450 7,013 11,795

179 206 482 786 26 5,405 244 321 169 296 714

377 2,142 3,069 4,612 326 13,058 6,984 2,525 2,139 2,861 5,626

541 1,189 5,383 2,818 661 6,845 3,098 1.784 1,428 1,280 2,133

4,318 7,684 27,935 22,162 3,697 83,343 25,930 16,941 12,730 12,322 16,789

12,113 17,420 50,711 35,456 8,016 229,246 55,016 36,358 28,059 30,932 34,379

1,043 406 3,377 2,432 187 21,599 5,286 2,020 2,219 2,173 3,296

56 1 60 33 9 2,038 77 89 28 29 109

118 6,180 722 7 86 202 526

618 197 734 1,279 58 8,536 2,991 576 204 1,028 633

21 112 374 427 47 748 245 299 808 348 294

276 315 189 35 2,471 411 469 102 356 1,166

73 96 1,776 505 38 1,625 839 581 991 210 568

2,055 2,156 13,549 8,175 1,782 92,386 15,598 8,345 7,133 5,808 8,323

192 477 4,362 1,804 1,207 31,218 4,476 3,434 2,183 1,401 1,559

912 22 285 28 8,318 1,743 94 264 836 1,235

51 271 561 537 128 996 381 505 1,436 508 549

608 1,035 7,233 3,006 343 44,264 6,095 3,170 1,848 1,900 3,678

293 351 1,108 2,801 104 7,589 2,902 1,142 1,403 1,162 1,302

11,100 15,669 40,539 29,713 6,421 158,459 44,704 30,033 23,145 27,298 29,352

CO

toFEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— tota l..........................

Federal..............................................................

State..................................................................

5.049

5.049

7.695

7.695

15.554

15.554

12.345

12.345

3,208

2,974

234

62.899

62.899

17.852

17.852

9.570

9.570

7.255

7.255

10.900

10.900

11.473

11.473

Net profits after incom e taxes......................

Dividends and interest on capital—total..

Dividends declared on preferred stock and 

interest on capital notes and debentures. .

6,051 7,974 24,984 17,368 3,213 95,559 26,852 20,463 15,890 16,397 17,879

3,554 4,635 7,359

27

7,332

8,037 1,356 37,785 9,096

9

9,087

7,207

19

7,188

4,740 5,605

3

5,602

5,461

1

Cash dividends declared on common stock.. 5,460

Net additions to capital from profits........

3,554 4,635 8,037 1,356 37,785 4,740

2,498 3,339 17,625 9,332 1,856 57,775 17,756 13,256 11,150 10,793 12,420

M emoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities..................................................... 5

69

971

321

2

764

43

1,985

50

3,170

2,395

5,294

1

1,043

218

2,166

1

561

3

994

29

734

5

1,230

237

329

472

954

49

374

124

1,846

On loans............................................................

Losses charged to reserve accounts (not included in losses above):

On securities.....................................................

On loans............................................................

100

42

205

997

2

3,344

75

238

Average assets and liabilities1

Assets—tota l......................................................

Cash and due from banks...............................

United States Government obligations.........

Other securities................................................

Loans and discounts........................................

All other assets.................................................

Liabilities and capital—total........................

Total deposits...................................................

Demand deposits...........................................

Time and savings deposits............................

Borrowings and other liabilities.....................

Total capital accounts....................................

673,504

116,195

204,863

31,093

310,395

10,958

1,522,580

338,278

457,991

61,510

635,736

29,065

4,160,264

985,946

1,376,469

301,981

1,417,391

78,477

2,659,398

638,905

655,968

169,217

1,150,927

44,381

591,485

100,291

198,158

29,995

254,582

8,459

17,012,701

3,542,334

5,470,209

1,454,197

6,408,540

137,421

4,564,795

927,014

1,712,661

278,398

1,596,732

49,990

2,928,418

551,423

912,071

269,651

1,172,280

22,993

2,173,762

479,648

697,448

264,249

712,994

19,423

2,236,321

547,338

710,956

122,081

836,186

19,760

2,932,077

752,196

879,520

272,935

985,184

42,242

673,504

601,451

1*80,732

120,719

8,450

63,603

1,522,580

1,394,409

1,058,51*8

335,861

15,741 

112,430

4,160,264

3,847,794

2,927,1*81*

920,310

43,443

269,027

2,659,398

2,394,793 

1,862,521*

532,269

49,041 

215,564

591,485

551,404

366,163

185,21*1

5,135

34,946

17,012,701

15,620,121 

11,195,81*7

1*,1*21*, 271*

202,700 

1,189,880

4,564,795

4,205,531

2,937,720

1,267,811

42,170

317,094

2,928,418

2,678,903

1,930,576

71*8,327

10,689

238,826

2,173,762

1,989,385

1,626,388

362,997

12,314

172,063

2,236,321

2,037,252

1,61*9,1*1*7

387,805

19,101

179,968

2,932,077

2,709,826

2,217,1*72

1*92,351*

29,790

192,461

Number of active officers, December 31..........

Number of other employees, December 31. ...

308

1,609

475

3,337

1,964

10,524

1,838

6,869

349

1,448

5,505

27,963

2,431

9,870

2,499

5,453

2,041

4,101

1,644

4,578

1,278

5,871

Number of banks, December 31........................ 26 16 265 353 28 933 457 624 552 351 181

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 191*6-1956: See the Annual Report for 1956, pp. 128-137, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars) CO 

____________________________________________________________________________________________________________________________ ________________ _ ^

Table 118. E a r n in g s , E x p e n s e s , a n d D iv id e n d s of I n s u r e d C o m m e r c ia l B a n k s in t h e

U n it e d S t a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), b y S t a t e , 1957— Continued

Earnings or expense item Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New

Hampshire

Current operating earnings—total............. 26,179 78,754 223,557 322,286 158,063 43,070 196,998 31,378 53,393 14,451 14,751

Interest on U. S. Government obligations.. . 4,096 17,837 30,875 72,409 28,196 7,837

4,130

42,060 7,233 12,480 2,966 2,127

Interest and dividends on other securities... 1,055 3,928 8,029 17,115 8,890 10,779 1,705

17,494

2,694 628 694

Interest and discount on loans...................... 17,473 43,960 133,365 191,621 92,311 23,419 121,278 31,217 8,665 9,756

Service charges and fees on bank's loans.... 137 393 1,177 3,345 1,163 109 980 373 86 393 58

Service charges on deposit accounts.............. 1,643 6,429 14,070 16,538 9,872 2,599 8,820 2,407 3,439 878 1,261

Other service charges, commissions, fees, 

and collection and exchange charges......... 428 1,854 7,178 6,139 9,781 3,112 2,961 980 1,161 242 284

Trust department............................................ 852 2,190 19,194 9,400 4,172 303 5,168 185 729 357 243

Other current operating earnings.................. 496 2,165 9,671 5,719 3,678 1,561 4,951 1,002 1,588 324 328

Current operating expenses— total............. 18,450 52,776 131,945 213,866 106,787 30,361 116,750 20,790 33,155 9,667 10,411

Salaries—officers.............................................. 2,630 7,128 20,437 25,897 21,593 6,691 21,756 4,080 9,816 1,712

2,850

1,752

Salaries and wages—employees..................... 5,060 15,831 47,033 66,287 26,291 7,255 33,806 4,924 8,297 2,388

Fees paid to directors and members of executive, discount, and other committees........ 259 662 1,083 1,553 1,361 512 1,459 171 593 17 189

Interest on time and saving deposits............ 4,647 11,698 12,479 53,186 24,440 4,470 19,079 3,786 2,068 2,440 2,417

Interest and discount on borrowed money. . 88 323 1,364

5,001

1,749 1,732 109 744 96 459 83

Taxes other than on net income.................... 754 2,597 10,499 2,160 1,669 4,355 1,727 1,343 443 316

Recurring depreciation on banking house, 

furniture and fixtures.................................. 499 1,531 4,731 6,013 2,034 851 3,421 621 896 334 298

Other current operating expenses.................. 4,514 13,007 39,817 48,684 27,176 8,803 32,131 5,386 9,685 1,871 2,970

Net current operating earnings................... 7,728 25,978 91,613 108,420 51,276 12,709 80,247 10,588 20,238 4,784 4,342

Recoveries, transfers from reserve accounts, and profits—total.................. 386 1,956 6,019 5,599 2,759 1,056 4,101 1,457 1,327 118 492

On securities:

Recoveries..................................................... 38 167 291 456 119 73 93 127 86 173

Transfers from reserve accounts................

Profits on securities sold or redeemed. . . .

53

76

39

1,126

860

1,052

369

2,085

211

420

146

144

90

2,299

330

80

55

427 107 115

On loans:

Recoveries ............................................. 127 445 254 250 958 276 525 535 366 29

Transfers from reserve accounts . . .. 29 49 1,877

1,684

528 157 100 573 155 252 3

All other............................................................ 64 131 1,909 895 316 521 231 141 12 171

Losses, charge-off8, and transfers to reserve accounts—total.............................. 2,321 4,964 21,949 23,254 8,888 5,088 13,754 3,561 4,498 488 1,701

On securities:

Losses and charge-offs................................. 1,036 1,348 9,329 7,600

3,876

379

3,340 1,125 5,247 1,030 1,379 45 772

Transfers to reserve accounts . . 97 441 2,665

138

148 489 1,964

721

531 451 27

On loans:

Losses and charge-offs 114 171 778 596 690 402 54

Transfers to reserve accounts.................... 851 2,180 6,878 8,001 2,627 2,202 4,296 995 1,554 377 656

All other............................................................ 223 825 2,939 3,398 1,994 676 1,527 316 711 66 192

Net profits before income taxes................... 5,795 22,970 75,683 90,763 45,148 8,678 70,595 8,485 17,067 4,415 3,132

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income—total..........................

Federal..............................................................

State..................................................................

2.295

2.295

9.067

9.067

36,164

30,892

5,272

36.822

36.822

18,422

15,911

2,511

2.305

2.305

30,178

29,377

801

3,395

3,320

75

6.103

6.103

1.978

1.978

957

957

Net profits after income taxes......................

Dividends and interest on capital—total..

Dividends declared on preferred stock and 

interest on capital notes and debentures. . 

Cash dividends declared on common stock..

Net additions to capital from profits........

3,500 13,904 39,518 53,942 26,726 6,374 40,417 5,090 10,964 2,437 2,175

1,704

5

1,699

5,723

11

5,713

21,931

13

21,918

21,848

130

21,718

11,348

1

11,347

2,858

18

2,840

14,970

33

14,937

2.390

2.390

4,259

1

4,258

1.296

1.296

895

895

1,797 8,181 17,589 32,094 15,378 3,516 25,447 2,701 6,705 1,141 1,281

Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities..................................................... 1

296

196

566

33

1,000

1,803

3,793

12

2,826

3,880

3,374

4

289

22

911

4

1,036

1,110

2,150

On loans............................................................

Losses charged to reserve accounts (not included in losses above):

On securities.....................................................

133

11

527

592

8

1,492

352 587

18

835

112 80

On loans............................................................ 402 218 190

Average assets and liabilities1

Assets—total......................................................

Cash and due from banks..............................

United States Government obligations........

Other securities................................................

Loans and discounts........................................

All other assets.................................................

Liabilities and capital— total........................

Total deposits...................................................

Demand deposits...........................................

Time and savings deposits............................

Borrowings and other liabilities.....................

Total capital accounts....................................

599,699

104,729

162,884

42,330

279,084

10,672

2,230,630

473,427

727,305

174,039

819,901

35,958

5,371,126

1,175,965

1,208,281

332,479

2,542,668

111,733

8,486,148

1,449,391

2,869,940

734,336

3,319,338

113,143

3,973,366

835,409

1,059,836

356,298

1,672,832

48,991

1,130,374

256,410

294,374

168,502

393,539

17,549

5,898,793

1,446,378

1,672,131

439,628

2,284,588

56,068

777,579

158,637

259,242

68,294

281,305

10,101

1,551,700

360,255

498,305

126,506

552,434

14,200

341,009

50,457

114,140

24,289

144,602

7,521

347,515

68,269

83,452

28,032

163,165

4,597

599,699

538,863

313,486

225,377

7,468

53,368

2,230,630

2,047,361

1,485,734

561,627

25,001

158,268

5,371,126

4,747,078

4,045,651

701,427

135,544

488,504

8,486,148

7,775,641

4,458,790

3,316,851

146,256

564,251

3,973,366

3,617,509

2,405,764

1,211,745

59,102

296,755

1,130,374

1,037,051

825,940

211,111

8,272

85,051

5,898,793

5,402,752

4,295,440

1,107,312

63,693

432,348

777,579

726,616

548,490

178,126

8,549

42,414

1,551,700

1,408,929 

1,249,833

159,096

14,031 

128,740

341,009

315,942

206,333

109,609

4,468

20,599

347,515

308,967

214,667

94,300

3,670

34,878

Number of active officers, December 31..........

Number of other employees, December 31....

376

1,885

1,006

5,506

2,143

15,299

2,629

19,009

2,952

9,010

969

2,631

2,993

11,512

529

1,720

1,437

3,043

216

878

274

885

Number of banks, December 31........................ 51 147 166 393 673 192 589 114 382 6 63

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1946-1956: See the Annual Report for 1956, pp. 128-137, and earlier reports. i—i

CO

Oi EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars) CO

05

Table 118. E a r n in g s , E x p e n s e s , a n d D iv id e n d s o f I n s u r e d C o m m e r c ia l B a n k s in t h e

U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), b y S t a t e , 1957— Continued

Earnings or expense item New

Jersey

New

Mexico

New

York

North

Carolina

North

Dakota Ohio Oklahoma Oregon Pennsylvania Rhode

Island

South

Carolina

Current operating earnings— total............. 252,530 24,192 1,566,947 104,481 24,617 392,012 90,280 76,473 548,632 37,975 36,619

Interest on U. S. Government obligations.. . 47,358 5,570 203,429 15,677 6,343 85,577 17,568 12,493 88,650 5,309 7,089

Interest and dividends on other securities... 20,142 565 67,781 6,901 1,325 20,283 5,062 4,342 34,406 1,833 2,247

Interest and discount on loans...................... 148,260 14,593 989,628 62,857 12,267 229,143 54,825 47,041 342,042 23,460 20,681

Service charges and fees on bank’s loans---- 1,474 94 19,018 1,487 189 3,513 328 624 3,502 82 100

Service charges on deposit accounts.............. 17,558 1,900 57,020 5,890 1,440 20,271 6,794 7,069 20,031 1,977 2,852

Other service charges, commissions, fees,

and collection and exchange charges........ 3,509 787 34,923 6,325 2,458 6,106 1,420 1,482 8,048 423 2,421

Trust department............................................ 7,822 137 125,991 3,101 107 14,580 1,043 1,730 36,954 3,273 605

Other current operating earnings.................. 6,409 548 69,156 2,245 490 12,541 3,239 1,693 15,000 1,619 625

Current operating expenses— total............. 183,557 15,884 892,077 67,317 15,226 247,156 55,798 52,980 340,433 25,608 23,904

22,899 2,858 105,106 13,054 3,669 32,521 13,045 8,532 48,930 2,765 5,245

Salaries and wages—employees..................... 51,917 4,783 311,547 19,208 3,275 69,144 14,223 15,349 100,856 7,005 6,886

Fees paid to directors and members of executive, discount, and other committees........ 2,041 147 4,533 593 169 2,238 584 178 4,431 210 327

Interest on time and saving deposits............ 49,073 2,567 160,300 11,594 3,288 59,165 8,360 15,458 72,610 7,563 3,027

Interest and discount on borrowed money. . 942 16 16,312 917 16 1,808 870 275 4,003 286 41

Taxes other than on net income.................... 8,838 753 23,279 2,072 401 17,526 969 1,275 13,390 1,359 454

Recurring depreciation on banking-house,

furniture and fixtures.................................. 6,502 715 20,341 2,380 370 6,888 1,924 1,706 11,828 691 941

Other current operating expenses.................. 41,346 4,045 250,662 17,501 4,038 57,867 15,823 10,208 84,386 5,731 6,984

Net current operating earnings................... 68,974 8,308 674,870 37,164 9,391 144,856 34,482 23,492 208,199 12,367 12,714

Recoveries, transfers from reserve accounts, and profits—total.................. 5,671 456 39,578 3,300 390 11,867 2,425 1,117 10,258 699 346

On securities:

Recoveries • .......... . . . . 759 14 1,075 304 7 442 11 327 1

rPr»or»ofara frAm rooprvP qiTltQ 496 2,461 120 15 2,143 373 1,139 100

Profits on securities sold or redeemed. . . . 1,686 26 13,005 756 78 2,431 509 854 2,647 8 134

On loans:

584 168 2,744 205 82 600 884 25 1,072 136 96

Transfers from reserve accounts................ 683 132 9,063 1,413 20 3,991 137 99 1,698 399 16

All other............................................................ 1,463 117 11,230 502 189 2,262 511 140 3,375 55 100

Losses, charge-offs, and transfers to reserve accounts— total.............................. 26,137 2,502 176,537 11,760 2,065 32,922 6,650 3,663 59,942 4,354 2,390

On securities:

Losses and charge-offs................................. 9,782 177 64,698 5,864 630 8,815 1,631 2,327 16,735 2,443 645

n^rortoforc 4-a rocDrvo 2,039 75 25,915 59 1 7,622 112 9,620 111

On loans:

Losses and charge-offs................................. 445 297 786 427 109 1,099 1,267 53 775 145 128

Transfers to reserve accounts.................... 11,034 1,480 78,195 4,469 764 11,397 3,081 909 25,002 959 1,180

All other............................................................ 2,838 473 6,943 941 562 3,989 559 373 7,812 808 327

Net profits before income taxes................... 48,507 6,263 537,911 28,703 7,716 123,802 30,257 20,947 158,513 8,711 10,670

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— tota l..........................

Federal..............................................................

State..................................................................

15.007

15.007

2,680

2,680

247,623

223,252

24,371

11,761

11,463

298

2,861

2,774

89

53.378

53.378

11,407

10,633

774

9,555

7,786

1,770

61.938

61.938

3,702

3,182

520

4,381

4,068

313

Net profits after incom e taxes......................

Dividends and interest on capital—total..

Dividends declared on preferred stock and 

interest on capital notes and debentures. . 

Cash dividends declared on common stock..

Net additions to capital from profits........

33,500 3,583 290,286 16,942 4,855 70,424 18,851 11,392 96,575 5,009 6,288

16,450

574

15,878

1,175

1

1,174

183,421

1,108

182,313

6,589

1

6,588

2.005

2.005

27,190

17

27,173

6.765

6.765

6.197

6.197

55,046

15

55,031

3.283

3.283

2,926

2

2,924

17,050 2,408 106,866 10,353 2,850 43,234 12,086 5,195 41,529 1,726 3,361

M emoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities..................................................... 90

1,203

1,201

2,718

833

10,200

29,320

26,823

1

345

4

873

346

1,543

6,311

4,380

26

2,621

12,358

7,349

On loans......................................................

Losses charged to reserve accounts (not included in losses above):

On securities...............................................

384 164 614

1

2,004

623 138 113

On loans...................................................... 730 289 1,611 722 375

Average assets and liabilities1

Assets—tota l....................................................

Cash and due from banks..............................

United States Government obligations........

Other securities................................................

Loans and discounts........................................

All other assets.................................................

Liabilities and capital—total........................

Total deposits..................................................

Demand deposits...........................................

Time and savings deposits...........................

Borrowings and other liabilities.....................

Total capital accounts..................................

6,638,500

1,086,942

1,908,143

838,124

2,698,691

106,600

613,738

145,604

215,117

26,710

216,654

9,653

42,845,937

9,752,630

8,462,215

2,618,077

20,806,757

1,206,258

2,622,156

610,371

606,266

291,971

1,070,896

42,652

589,235

90,348

224,663

59,001

207,570

7,653

10,969,617

2,150,541

3,365,877

817,776

4,491,570

143,853

2,483,097

665,727

676,953

232,847

874,445

33,125

1,925,382

339,254

536,376

189,098

824,697

35,957

14,337,795

2,786,769

3,559,390

1,332,529

6,425,190

233,917

877,964

130,654

209,700

71,720

450,560

15,330

929,110

215,769

272,122

96,946

332,063

12,210

6,638,500

6,095,814

3,575,205

2,520,609

77,317

465,369

613,738

574,275

U5,311

128,964

4,395

35,068

42,845,937

37,418,593

30,232,662

7,185,931

1,688,640

3,738,704

2,622,156

2,338,926

1,780,749

558,177

70,797

212,433

589,235

540,906

382,874

158,032

5,592

42,737

10,969,617

10,031,769

6,523,244

3,508,525

144,774

793,074

2,483,097

2,253,290

1,904,380

348,910

25,973

203,834

1,925,382

1,744,509

1,067,529

676,980

34,522

146,351

14,337,795

12,709,415

8,739,595

3,969,820

236,431

1,391,949

877,964

783,424

4-78,676

304,748

22,453

72,087

929,110

847,068 

697,380

149 688

7,821 

74,221

Number of active officers, December 31..........

Number of other employees, December 31. . . .

2,568

15,981

362

1,655

8,622

80,053

1,698

6,548

564

1,283

3,731

21,023

1,846

4,861

1,131

4,420

5,686

31,207

305

2,388

750

2,567

Number of banks, December 31.................. 268 52 449 209 150 610 379 53 758 8 137

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 191+6-1956: See the Annual Report for 1956, pp. 128-137, and earlier reports.

00EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 118. E arn in gs, Expenses, and Dividends o f Insured Com m ercial Banks in th e

U n ited S ta te s (C on tin en tal U. S. and O th er A reas), by S tate, 1957—Continued

(Amounts in thousands of dollars) Og

Earnings or expense item South

Dakota Tennessee Texas Utah Vermont Virginia Washington West

Virginia Wisconsin Wyoming

Current operating earnings—tota l............. 26,501 109,794 379,510 37,417 15,391 122,874 110,630 46,949 140,445 13,906

Interest on U. S. Government obligations... 6,491 18,483 66,634 6,249 2,269 21,577 16,369 12,379 34,498 3,331

Interest and dividends on other securities... 1,142 5,512 19,796 1,372 816 5,877 5,898 1,837 7,101 541

Interest and discount on loans...................... 14,379 73,893 237,043 23,584 10,463 78,465 67,643 27,224 82,505 7,980

Service charges and fees on bank’s loans---- 184 645 2,977 1,228

2,545

174 1,172 1,289 377 963 121

Service charges on deposit accounts..............

Other service charges, commissions, fees,

1,706 3,544 20,717 921 6,932 11,322 1,679 7,484 988

and collection and exchange charges........ 1,987 2,737 6,109 1,086 204 2,628 2,986 906 2,245 428

Trust department............................................ 161 1,995 7,034 802 281 3,883 2,636 1,225 2,280 92

Other current operating earnings.................. 452 2,987 19,199 550 265 2,341 2,485 1,323 3,369 426

Current operating expenses— total............. 17,252 73,186 240,660 24,634 12,106 82,671 75,491 27,912 96,659 9,061

4,695 12,005 46,531 3,464 1,618 13,391 11,846 5,349 18,768 1,946

Salaries and wages—employees......................

Fees paid to directors and members of execu3,549 17,665 62,108 6,140 2,360 20,704 23,653 7,058 22,750 2,120

tive, discount, and other committees........ 308 645 2,719 240 224 1,104 288 525 1,586 156

Interest on time and saving deposits............ 3,488 19,052 35,399 7,958 4,864 21,943 17,368 5,871 25,973 2,172

Interest and discount on borrowed money. . 36 502 1,393 108 33 480 217 98 380 34

Taxes other than on net income....................

Recurring depreciation on banking house,

394 3,905 18,914 373 229 3,433 1,927 1,143 2,155 335

furniture and fixtures.................................. 461 2,241 9,632 572 340 3,243 2,911 1,009 2,822 354

Other current operating expenses.................. 4,322 17,170 63,963 5,780 2,439 18,375 17,283 6,860 22,228 1,944

Net current operating earnings................... 9,248 36,609 138,849 12,783 3,285 40,202 35,139 19,036 43,786 4,845

Recoveries, transfers from reserve accounts, and profits—total.................. 487

On securities:

437 2,562 8,371 1,450 379 2,421 1,420 6,167 257

Recoveries.....................................................

Transfers from reserve accounts ........

13 15

150

32

1,227

1,485

160 10

1

9

665

38

11

2

48

82

218

Profits on securities sold or redeemed. . . . 

On loans:

100 1,217 511 106 1,084 460 135 4,928 25

94 274 3,181 414 59 220 50 106 108 191

Transfers from reserve accounts................ 69 26 1,212 1 28 50 165 89 169 6

161 881 1,233 364 176 393 696 107 663 34

Losses, charge-offs, and transfers to reserve accounts—total..............................

On securities:

1,514 7,684 31,874 1,746 1,078 8,064 6,676 3,173 11,007 1,111

Losses and charge-offs.................................

Transfers to reserve accounts..................

426 1,814

551

6,086

844

571 340

50

2,231

1,551

2,229

536

1,722

18

4,803

117

398

On loans:

Losses and charge-offs................................. 224 572 5,404 44 72 371 90 118 108 207

Transfers to reserve accounts.................... 607 3,315 15,488 816 429 3,268 2,280 993 4,990 411

All other............................................................ 258 1,433 4,052 315 188 644 1,541 324 989 95

Net profits before incom e taxes................... 8,171 31,487 115,345 12,488 2,586 34,558 29,884 16,350 38,945 3,991

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— to ta l..........................

Federal........................................................

State..................................................................

3,215

3,021

194

13,076

12,877

199

44.333

44.333

5,431

5,105

326

861

770

90

14.032

14.032

13.596

13.596

6.670

6.670

14,207

13,534

673

1.596

1.596

Net profits after incom e taxes......................

Dividends and interest on capital— to ta l..

Dividends declared on preferred stock and 

interest on capital notes and debentures. . 

Cash dividends declared on common stock..

Net additions to capital from profits........

4,956 18,411 71,012 7,056 1,726 20,526 16,288 9,680 24,738 2,394

2,037

2

2,036

7.753

7.753

32.592

32.592

3,026

5

3,020

892

37

855

8,699

48

8,652

7.264

7.264

3.440

1

3.440

9,093

98

8,995

920

5

916

2,919 10,657 38,420 4,030 833 11,826 9,025 6,240 15,645 1,474

M emoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities............................................... 178

3,310

12

7,768

16

496

1,243

1,247

16

817

71

1,931

On loans..................................................

Losses charged to reserve accounts (not included in losses above):

On securities.......................................

205 436

313

1,538

160 83 448

388

811

134

4

239

169

On loans.............................................. 301 321 180 208

Average assets and liabilities1 

Assets—total........................................

Cash and due from banks...............................

United States Government obligations.........

Other securities..............................................

Loans and discounts............................

All other assets...................................

Liabilities and capital—total..........

Total deposits.......................................

Demand deposits..................

Time and savings deposits..................

Borrowings and other liabilities.....................

Total capital accounts...............................

645,768

112,582

240,975

46,139

239,172

6,900

2,944,263

719,157

716,382

218,252

1,242,303

48,169

10,905,227

3,076,792

2,576,613

714,536

4,278,553

258,733

897,534

190,065

232,598

55,689

406,024

13,158

359,597

52,013

88,653

32,119

181,687

5,125

3,104,632

651,067

865,600

233,216

1,303,408

51,341

2,636,897

548,170

630,727

227,708

1,184,573

45,719

1,281,226

273,905

480,296

78,875

432,421

15,729

4,145,283

787,114

1,393,754

317,417

1,599,715

47,283

373,158

82,639

138,063

22,213

125,836

4,407

645,768

592,109 

422,935

169,174

4,685 

48,974

2,944,263

2,684,306 

1,892,863

791,943

42,625 

217,332

10,905,227

9,961,989

8,298,819

1,668,670

125,289

817,949

897,534

827,276

514,853

812,423

11,878

58,380

359,597

322,424

183,165

189,259

3,672

33,501

3,104,632

2,830,505

1,812,296

1,018,209

34,976

239,151

2,636,897

2,414,052

1,668,122

750,930

33,162

189,683

1,281,226

1,147,494

820,276

327,218

12,715

121,017

4,145,283

3,835,420

2,318,847

1,516,578

24,595

285,268

373,158

342,929

250,888

92,046

3,316

26,913

Number of active officers, December 31........

Number of other employees, December 31.. . .

736

1,417

1,787

6,308

5,780

20,407

428

2,052

250

851

1,916

7,304

1,376

7,019

755

2,427

2,442

8,045

258

686

Number of banks, December 31.......... 172 291 931 44 58 312 86 179 546 53

iVote; Due to rounding differences, components may not add precisely to the indicated totals.

Asset and liability items are averages of figures reported at beginning, middle, and end of year .

Back figures, 1946-1956: See the Annual Report for 1956, pp. 128-137, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 1 1 9 . Income, Expenses, and Dividends o f Insured M u tu a l Savings Banks, 1951-1957

(Amounts in thousands of dollars)

Sources and disposition of income

Current operating income—total.........................................

Interest on U. S. Government obligations............................

Interest and dividends on other securities............................

Interest and discount on real estate mortgage loans—net. , 

Interest and discount on real estate mortgage loans—gross.

Less: Mortgage servicing fees................................................

Premium amortization............................................... .

Interest and discount on other loans and discounts—net. .

Income on real estate other than bank building—net.........

Income on real estate other than bank building—gross. . . .,

Less: Operating expense.......................................................

Income on other assets...........................................................

Income from service operations..............................................

Current operating expense—total........................................................................................

Salaries—officers........................................................................................................................

Salaries and wages—employees...............................................................................................

Pension, hospitalization and group insurance payments, and other employee benefits. . .

Fees paid to trustees and committee members.....................................................................

Occupancy, maintenance, etc. of bank premises (including taxes and recurring depreciation)—net.................................................................................................. ...............

Occupancy, maintenance, etc. of bank premises (including taxes and recurring depreciation)—gross.....................................................................................................................

Less: Income from bank building..........................................................................................

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

Furniture and fixtures (including recurring depreciation)...................................................

All other current operating expense........................................................................................

Net current operating income...............................................................................................

Franchise and income taxes—total.

State franchise and income taxes. . . . 

Federal income taxes...........................

Net current operating income after taxes.

Dividends and interest on deposits............

Net current operating income after taxes and dividends...........................................

Non-recurring income, realized profits and recoveries credited to profit and loss,

and transfers from valuation adjustment provisions—total.............................

Non-recurring income............................................................................................................

Realized profits and recoveries on:

Securities sold or matured..................................................................................................

Real estate mortgage loans................................................................................................

Other real estate..................................................................................................................

All other assets....................................................................................................................

Transfers from valuation adjustment provisions1 on:

Securities..............................................................................................................................

Real estate mortgage loans................................................................................................

Other real estate..................................................................................................................

All other assets....................................................................................................................

1951

513,817

171,169

49,630

279,405

291,790

6.051

6,331*

3,878

163

699

536

5.052 

4,520

106,654

18,030

37,707

8,939

1,872

11,589

18,21*8

6,659

5,907

2,280

20,330

407,163

6.094

6.094

401,069

282,235

118,834

128,790

21,045

8,567

484

300

2,843

11,968

80,676

373

2,534

1952

568,498

163,879

62,958

326,785

31*0,1*97

7,666

6,01*6

4,068

102

533

1*31

5,833

4,873

116,763

19,249

40,996

10,648

2,123

12,162

19,101*

6,91*2

6,203

2,387

22,995

451,735

9,189

6,962

2,227

442,546

365,481

77,065

57,917

14,893

5,243

155

216

240

12,223

24,692

111

144

1953

647,067

164,630

82,003

381,895

396,261*

9,1*83

1*,886

5,184

77

338

261

7,171

6,107

127,336

21,142

44,351

11,566

2,303

13,521

20,926

7,1*05

6,837

2,445

25,171

519,731

8,569

6,459

2,110

511,162

414,951

96,211

36,962

12,372

5,287

783

304

1,489

6,132

9,965

275

355

1954

721,323

155,869

96,205

447,022

1*61,769

11,922

2,825

6,642

206

7,746

7,753

139,931

22,870

48,074

12,623

2,526

15,019

22,1*95

7,1*76

7,562

2,755

28,502

581,392

10,643

7,231

3,412

570,749

466,119

104,630

59,228

12,334

23,914

389

219

943

10,858

8,450

126

1,995

1955

801,682

150,657

99,190

528,426

51*5,81*1

15,623

1,792

7,322

-17

21*7

261*

8,171

7,933

147,678

24,200

50,879

13,544

2,697

15,094

22,793

7,699

7,979

2,790

30,495

654,004

9,047

7.818

1,229

644,957

536,256

108,701

44,430

11,586

18,070

481

3,179

977

1,878

7,710

157

392

1956

898,440

146,624

102,590

623,586

61*5,592

20,1*75

1,531

8,439

6

103

97

8,328

8,867

158,317

25,861

53,962

14,643

2,809

17,492

25,380

7,888

8,437

3,058

32,055

740,123

8,955

8,321

634

731,168

609,335

121,833

48,192

10,537

17,355

456

413

1,435

4,463

12,501

29

1,003

1,026,327

147,157 

127,212 

720,215 

71*1*,303

23,138

950

10,848 

31 

11*0

109

7,898 

12,966

174,758

28,590

58,310

16,478

3,007

19,326

27,81*6

8,520

9,407

3,251

36,389

851,569

9,060

8,972

842,509

716,383

126,126

48,148

13,434

16,022

259

437

431

5,939

10,850

65

711

O

O

H

W

tr*DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Non-recurring expense, realized losses charged to profit and loss, and transfers to 

valuation adjustm ent provisions—tota l.................................................................... 124,491

24,724

25,264

179

20

200

52,574

18,580

37

84,023

23,804

25,875

176

110

62

14,359

15,474

63

4,100

70,507

12,156

28,333

152

39

106

10,639

17,005

11

2,066

65,050

14 279

66,385

10 087

71,580

10 645

83,870 Non-recurring expense...................................................................................... 19 Q^Q

Realized losses on:

Securities sold.......................................................................................................... 12 773 21 673 26 991

y e ,yoo

Real estate mortgage loans........................................................................ *112

49

551

12 403

636

101

823

*542

171

00,040 

1 OQA

Other real estate.............................................................................................. 1 ,UoO 

1 7Q

All other assets............................................................................................ 149 

16 689

1 iy 

101

Transfers to valuation adjustment provisions1 on:

Securities...................................................................................................................... 10 630

X«7 X

1£ 0fi9

Real estate mortgage loans.............................................................................. 20^3807

19*219 

42 

3 174

16^194

46

153

_Lo,UD4 

1K 9QA

Other real estate..................................................................................................... ±0)400

1

All other assets............................................................................................ 2,913 4 496

10

OOO

Net additions to total surplus accounts from operations............................................. 123,133 50,959 62,666 98,808 86,746 98,445 90,404

Memoranda

Recoveries credited to valuation adjustm ent provisions1 (not included in recoveries 

above) on:

Securities.............................................................................. 445

274

135

69

1

15

33

10

220

41

23

50

1 151 Q79

Real estate mortgage loans............................................................................................... 268 365

39£

Other real estate......................................................

All other assets........................................................ 105

9,175

255

218

14,581

882

1 2 24 

4 250

9

Realized losses charged to valuation adjustment provisions1 (not included in 

realized losses above) on:

Securities................................................................................................... 12 523 7 527

0

52 TA 1

Real estate mortgage loans................................................................................................... 469

683

166

234

45

326

180

326

*1,1/00

318

0, (41

342 Other real estate........................................................................... 294 206 127 All other assets............................................................................. 108 616 89 ox O 7i

Average assets and liabilities2 

Assets—tota l........................................................................... 16,694,810

662,190

7,292,576

1,662,971

6,764,780

79,331

17,905,674

728,979

19.625.429

744,369

6,620,535

2,591,176

9,288,364

102,768

2,432

275,785

19.625.429

17,718,957

17,688,777

30,180

119,359

1,787,113

21,872,622

874,215 

6,755,391 

3,015,662 

10,802,477 

120,350 

2 957

22,740,783

809,152

5,993,243

3 OOR

QA4 9%

Cash and due from banks....................................................... 757 496 79^ ft^O

United States Government obligations................................................................................ 6,755,471

2,064,761

8,012,488

85,996

2,675

255,304

17,905,674

16,102,806

16,080,015

22,791

93,253

1,709,615

5,730*449

3 034 Q90

I LiO ,oou 

^ *iQ9 09^

Other securities............................................................................. OjOOCi

Q AQO

Real estate mortgage loans..................................................................... O jUUOjUOO

12 467 355

O ,UO*± ,DiiU

14 4Q4 241

o,OOS7,4oU 1fi A dZ Qft9

Other loans and discounts.......................................................................... 130^165 

2 019

1 ^ 378 185 174 Other real estate.............................................................................................. 3,386

JLUd ,0 1 U

2 197 3 586 All other assets................................................................................................. 229,576

16,694,810

15,000,933

14,982,411

18,522

80,463

1,613,414

301 ,pi70 qqo^Q^ IfiO 99Q

Liabilities and surplus accounts—total...........................................................................

O v l 90 iv

21,872,622 IQ 7QQ 900

OOVjIt/O

22,740,783

90 ^77 403

24,533,839

99 909 1 KA 26,904,256 Total deposits............................................................................... 94 Q99 9fi1

Savings and time deposits.........................................................

XV , 1 OOjOUU

19,694,981

£i\J fO t » jtUO

20 525 629

LiU ,luO

9 9 1G7 5^ 7

Lal.t

91 9Q% 7A1

Demand deposits........................................................................ 43,319 51 77 U

<t/Ci 91 O 1 yOO i j/Ol

Other liabilities........................................................................... 159*912 199*228

1,964,152

O/ffOl if

249 779

9ouu

318 445 Total surplus accounts............................................................................ 1,974’, 410 2tu jUOi jt/V4* 081*904 LtjiiUO jOOU

Number of active officers, December 31................................... 1,714

11,530

1,810

11,932

1,908

12,525

1,999

13,227

2,042

13,618

2,130

13,860

2,239 Number of other employees, December 31............................................................................. 14,590

Number of banks, December 31..................................................... 202 206 219 218 220 223 239

1 Includes ‘^Valuation reserves” and “ Other asset valuation provisions (direct write-downs)” .

2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

and ^ c^ f i gTMre^ ^ 9SJt-1950: Data for 1934-1950, which however are not comparable with figures for 1951-1957, may be found in the following Annual Reports: 1950, pp. 272-273,

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
to

Table 120. R a t io s o f In com e, E x p e n se s, an d D iv id e n d s o f I n s u r e d M u t u a l S a v in g s B a n k s, 1951-1957

Sources and disposition of income 1951 1952 1953 1954 1955 1956 1957

Amounts per $100 of current operating income

Current operating income— total..........................................

Interest on U. S. Government obligations..............................

Interest and dividends on other securities...............................

Interest and discount on real estate mortgage loans—net. ..

Interest and discount on other loans and discounts—net___

Income on other assets...............................................................

Income from service operations................................................

Current operating expense—total..................................................................................................

Salaries—officers.................................................................................................................................

Salaries and wages—employees........................................................................................................

Pension, hospitalization and group insurance payments, and other employee benefits.............

Fees paid to trustees and committee members...............................................................................

Occupancy, maintenance, etc. of bank premises (including taxes and recurring depreciation)—net

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

Furniture and fixtures (including recurring depreciation).............................................................

All other current operating expense.................................................................................................

Net current operating income........................................................................................................

Franchise and income taxes— total.

State franchise and income taxes. . . . 

Federal income taxes...........................

Net current operating income after taxes.............................

Dividends and interest on deposits........................................

Net current operating income after taxes and dividends.

$100.00

33.31

9.66

54.38

.75

1.02

20.76

3.51

7.34

1.74

.36

2.26

1.15

.44

3.96

79.24

1.18

1.18

78.06

54.93

23.13

$100.00

28.83

11.07

57.48

.72

1.04

.86

20.54

3.39

7.21

1.87

.37

2.14

1.09

.42

4.05

79.46

1.62

1.23

.39

77.84

64.29

13.55

$100.00

25.44

12.67

59.02

.80

1.12

.95

$100.00

21.61

13.34

61.97

.92

1.09

1.07

$100.00

18.79

12.37

65.92

.91

1.02

.99

19.68

3.27

6.85

1.79

.35

2.09

1.06

.38

3.89

19.40

3.17

6.67

1.75

.35

2.08

1.05

.38

3.95

18.42

3.02

6.35

1.69

.34

1.88

.99

.35

3.80

80.32 80.60 81.58

1.32

1.00

.32

1.47

1.00

.47

1.13

.98

.15

79.00 79.13 80.45

64.13 64.62 66.89

14.87 14.51 13.56

$100.00

16.32

11.42

69.41

.94

.92

17.62

2.88

6.00

1.63

.31

1.95

.94

.34

3.57

82.38

1.00

.93

.07

81.38

67.82

13.56

$100.00

14.34

12.40

70.17

1.06

.77

1.26

17.03

2.79

5.68

1.60

.29

1.88

.92

.32

3.55

82.97

.88

.87

.01

82.09

69.80

12.29

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Am ounts per $100 of total assets1

Current operating income—total................................................................... 3.08 3.17 3.30 3.30 3.53 3.66 3.81

Current operating expense—total.................................................................................................. .64 .65 .65 .64 .65 .64 .65

Net current operating income............................................................................................................. 2.44 2.52 2.65 2.66 2.88 3.02 3.16

State franchise and income taxes....................................................................................................... .04 .05 .05 .05 .04 .04 .03

Net current operating income after taxes................................................................................. 2.40 2.47 2.60 2.61 2.84 2.98 3.13

Dividends and interest on deposits.................................................................................................... 1.69 2.04 2.11 2.13 2.36 2.48 2.66

Net current operating income after taxes and dividends........................................................ .71 .43 .49 .48 .48 .50 .47

Non-recurring income, realized profits and recoveries credited to profit and loss, and transfers from

valuation adjustment provisions2—total................................................................................... .77 .32 .19 .27 .19 .19 .18

Non-recurring expense, realized losses charged to profit and loss, and transfers to valuation adjustment provisions2—total................................................................... .74 .47 .36 .30 .29 .29 .31

Net additions to total surplus accounts from operations...................................................................... .74 .28 .32 .45 .38 .40 .34

Special ratios1

Interest on U. S. Government obligations per $100 of U. S. Government obligations..................... 2.35 2.43 2.49 2.31 2.51 2.56 2.63

Interest and dividends on other securities per $100 of other securities............................................... 2.98 3.05 3.16 3.19 3.30 3.38 3.57

Interest and discount on real estate mortgage loans per $100 of real estate mortgage loans........... 4.13 4.08 4.11 4.14 4.24 4.30 4.38

Interest and discount on other loans and discounts per $100 of other loans and discounts.............. 4.89 4.73 5.04 5.52 5.63 5.43 5.86

Dividends and interest on deposits per $100 of savings and time deposits........................................ 1.88 2.27 2.35 2.37 2.61 2.75 2.95

Net additions to total surplus accounts from operations per $100 of total surplus accounts............ 7.63 2.98 3.51 5.00 4.42 4.73 3.99

Assets and liabilities per $100 of total assets1

Assets— total....................................................................... 160.00 100.00 100.00 100.00 100.00 100.00 100.00

Cash and due from banks..................................................................................................................... 3.97 4.07 3.79 4.00 3.56 3.09 2.69

United States Government obligations....................................... 43.68 37.73 33.74 30.88 26.36 23.36 20.78 Other securities...................................................... 9.96 11.53 13.20 13.79 13.23 12.37 13.23 Real estate mortgage loans............................................................... 40.52 44.75 47.33 49.39 54.82 59.08 61.13 Other loans and discounts............................................................... .48 .48 .52 .55 .57 .63 .69 Other real estate...................................................... .02 .01 .01 .01 .01 .01 .01 All other assets................................................................................... 1.37 1.43 1.41 1.38 1.45 1.46 1.47

Liabilities and surplus accounts— tota l............................................................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits..................................................................................... 89.85 89.93 90.28 90.24 90.49 90.50 90.40 Savings and time deposits............................................................... 89.74. 89.80 90.IS 90.04 90.26 90.36 90.30 Demand deposits.............................................................................. .11 .13 .15 .20 .23 .14 .10 Other liabilities.............................................................................................. .48 .52 .61 .73 .87 1.02 1.19 Total surplus accounts.......................................................................... 9.67 9.55 9.11 9.03 8.64 8.48 8.41

Number of banks, December 31...................................................................... 202 206 219 218 220 223 239

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

2 Includes “ Valuation reserves" and “ Other asset valuation provisions (direct write-downs)” .

Back figures, 1934 and 194-1-1950: Data for 1934 and 1941-1950, which however are not comparable with figures for 1951-1957, may be found in the following Annual Reports: 

1950, pp. 274-275, and 1947, pp. 156-157.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
D ep o sit I n s u r a n c e D is b u r s e m e n t s

Table 121.

Table 122. 

Table 123. 

Table 124.

Depositors, deposits, and disbursements in insured banks requiring disbursements 

by the Federal Deposit Insurance Corporation, 1934-1957

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

amount of deposits, and State

Assets and liabilities of insured banks requiring disbursements by the Federal 

Deposit Insurance Corporation, 1934-1957

Insured banks requiring disbursements by the Federal Deposit Insurance Corporation during 1957

Recoveries and losses by the Federal Deposit Insurance Corporation on principal 

disbursements for protection of depositors, 1934-1957

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Disbursements by the Federal Deposit Insurance Corporation

to protect depositors are made when the insured deposits of banks 

in financial difficulties are paid off, or when the deposits of a failing 

bank are assumed by another insured bank with the financial aid of the 

Corporation. In deposit payoff cases the disbursement is the amount 

paid by the Corporation on insured deposits. In deposit assumption 

cases the principal disbursement is the amount loaned to failing banks, 

or the price paid for assets purchased from them; additional disbursements are made in those cases as advances for protection of assets in 

process of liquidation and for liquidation expenses.

Noninsured bank failures

One noninsured bank failed in 1957. This was Fraternal Bank and 

Trust Company, Fort Worth, Texas, March 22, 1957, deposits 

$1,254,850. For suspensions of noninsured banks in previous years 

see the Annual Reports of the Corporation as follows: 1943, p. 102; 

1946, p. 167; 1947, p. 159; 1949, p. 187; 1950, p. 277; 1951, p. 187; 

1952, p. 139; 1953, p. 131; 1954, p. 165; 1955, p. 161; and 1956, p. 143.

Sources of data

Insured banks: books of bank at date of closing; and books of FDIC, 

December 31, 1957.

OxDEPOSIT INSURANCE DISBURSEMENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 121. D e p o s it o r s , D e p o s its , a n d D is b u r s e m e n ts in I n s u r e d B a n k s R e q u ir in g 

D is b u r s e m e n ts b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n , 1934-1957

BANKS GROUPED BY CLASS OF BANK, YEAR OF DEPOSIT PAYOFF OR DEPOSIT ASSUMPTION, AMOUNT OF DEPOSITS, AND STATE

Classification

Number of banks Number of depositors1 Deposits1 

(in thousands of dollars)

Disbursements by FDIC 

(thousands of dollars)

Total

Deposit

payoff

cases

Deposit

assumption

cases

Total

Deposit

payoff

cases

Deposit

assumption

cases3

Total

Deposit

payoff

cases

Deposit

assumption

cases

Principal disbursements Advances and 

expenses2

Total

Deposit

payoff

cases4

Deposit

assumption

cases5

Deposit

payoff

cases6

Deposit

assumption

cases7

All banks................................... 432 251 181 1,428,082 398,607 1,029,475 584,359 121,959 462,400 293,322 95,553 197,769 1,008 47,073

Glass of bank

National banks....................... 76 23 53 305,655 61,038 244,617 123,738 24,083 99,655 56,293 17,755 38,539 191 6,202

State banks members F. R. S. 23 7 16 370,759 85,153 285,606 188,820 27,701 161,119 102,261 21,990 80,271 111 19,270

Banks not members F. R. S .. 333 221 112 751,668 252,416 499,252 271,801 70,175 201,626 134,767 55,808 78,960 706 21,601

Years

1934......................................... 9 9 15,767 15,767 1,968 1,968 941 941 43

1935......................................... 25 24 1 44,655 32,331 12,324 13,319 9,091 4,229 8,890 6,026 2,865 108 272

1936......................................... 69 42 27 89,018 43,225 45,793 27,508 11,241 16,267 14,781 8,056 6,725 67 934

1937......................................... 75 50 25 130,387 74,148 56,239 33,349 14,960 18,389 19,160 12,045 7,116 103 882

1938......................................... 74 50 24 203,961 44,288 159,673 59,684 10,296 49,388 30,480 9,092 21,387 93 4,902

1939......................................... 60 32 28 392,718 90,169 302,549 157,772 32,738 125,034 67,770 26,196 41,574 162 17,603

1940......................................... 43 19 24 256,361 20,667 235,694 142,429 5,657 136,773 74,134 4,895 69,239 89 17,234

1941......................................... 15 8 7 73,005 38,594 34,411 29,718 14,730 14,987 23,880 12,278 11,602 50 1,477

1942......................................... 20 6 14 60,688 5,717 54,971 19,186 1,816 17,369 10,825 1,612 9,213 38 1,076

1943......................................... 5 4 1 27,371 16,917 10,454 12,525 6,637 5,888 7,172 5,500 1,672 53 72

1944......................................... 2 1 1 5,487 899 4,588 1,915 456 1,459 1,503 404 1,099 9 37

1945 ....................................... 1 1 12,483 12,483 5,695 5,695 1,768 1,768 96

1946 ....................................... 1 1 1,383 1,383 347 347 265 265 11

1947......................................... 5 5 *10,637 10,637 7,040 7,040 1,724 1,724 305

1948......................................... 3 3 18,540 18,540 10,674 10,674 2,990 2,990 200

1949 ....................................... 4 4 5,671 5,671 5,475 5,475 2,552 2,552 166

1950 ....................................... 4 4 '6,365 6,365 5,501 5,501 3,986 3,986 510

1951 ....................................... 2 2 ‘5,276 5,276 3,408 3,408 1,885 1,885 127

1952......................................... 3 3 6,752 6,752 3,170 3,170 1,369 1,369 189

1953......................................... 2 2 24,469 24,469 18,262 18,262 5,017 5,017 368

1954 ....................................... 2 2 1,807 1,807 | 997 997 913 913 121

1955......................................... 5 4 1 17,805 8,083 9,722 11,968 6,503 5,465 6,789 4,443 2,346 103 427

1956......................................... 2 1 1 15,141 5,467 9,674 11,283 4,703 6,581 3,472 3,009 463 68 65

1957 ..................................... 1 1 2,335 2,335 1,163 1,163 1,056 1,056 22

Banks with deposits of—

$100,000 or less...................... 107 83 24 38,348 29,695 8,653 6,420 .4,947 1,473 4,999 4,309 691 88 154

$100,000 to $250,000............. 109 86 23 83,370 65,512 17,858 17,759 13,920 3,839 12,906 11,554 1,352 209 150

$250,000 to $500,000............. 59 36 23 89,949 56,777 33,172 20,975 12,462 8,514 14,588 10,223 4,365 147 583

$500,000 to $1,000,000.......... 62 27 35 152,860 67,220 85,640 47,165 20,379 26,786 31,079 16,222 14,857 225 2,059

$1,000,000 to $2,000,000___ 43 10 33 195,866 56,659 139,207 61,717 12,911 48,806 32,197 10,017 22,179 82 3,304

$2,000,000 to $5,000,000----- 31 7 24 235,005 61,573 173,432 96,749 24,695 72,054 51,944 17,552 34,392 172 5,491

$5,000,000 to $10,000,000. . . 12 12 190,237 190,237 77,442 77,442 26,209 26,209 5,267

$10,000,000 to $25,000,000. . 5 2 3 170,119 ‘61,171 108,948 96,713 '32,644 64,068 45,746 25,676 20,070 84 5,344

$25,000,000 to $50,000,000. . 4 4 272,328 272,328 159,418 159,418 73,653 73,653 24,720

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
State 

Alabama 

Arkansas... . 

California. .. 

Colorado 

Connecticut.

Florida.. 

Georgia. 

Idaho.. . 

Illinois.. 

Indiana.

Iowa.........

Kansas.... 

Kentucky. 

Louisiana.. 

Maine. . . .

Maryland..........

Massachusetts. .

Michigan...........

Minnesota.........

Mississippi.........

Missouri.............

Montana............

Nebraska...........

New Hampshire. 

New Jersey........

New York.........

North Carolina. 

North Dakota. .

Ohio................. .

Oklahoma.........

Oregon.............

Pennsylvania. . 

South Carolina. 

South Dakota.. 

Tennessee........

Texas..............

Vermont.........

Virginia..........

Washington... 

West Virginia.

Wisconsin................................

Wyoming.................................

7,906

4,433

7,519

10

5,379

1,642

8,387

2,451

43,291

30,006

13,665

5,145

36,134

6,087

9,722

22,567

9,046

31,663

2.650

1.651

34,929

1,500

2,224

1,780

520,380

269,563

10,408

14,103

8,544

10,795

2,209

166,893

1,848

12,515

12,358

28,946

11,057

26,041

4,179

8,346

26,898

3,212

794

3,529

4,350

10

5,379

448

7,773

2,451

5,372

12,549

1,676

2,254

18,490

6,087

6,643

* * “ 928

2.650

1.651

26,760

849

2,224

*101,614

28,440

3,677

6,760

7,585

5,874

43,828

403

11,412

9,993

27,418

8,687

2,964

' 8,346

18,739

7,112

904

3,169

1,194

614

37,919

17,457

11,989

2,891

17,644

’ 9,722

15,924

9,046

30,735

8,169

651

1,780

418,766

241,123

6,731

7,343

959

4,921

2,209

123,065

1,445

1,103

2,365

1,528

2,370

23,077

4,179

8,159

3,212

2,285

1,764

4,792

8

1,526

491

1,089

1,894

27,321

13,593

5,517

1,234

8,886

1,652

5,465

4,566

3,019

13,531

818

334

7,149

1,095

538

296

192,417

145,391

3,266

3,830

3,139

4,371

1,302

75,746

849

2,987

1,942

10,687

3,725

10,756

1,538

2,006

9,512

2,033

100

1,168

3,713

8

1,526

217

998

1,894

1,637

3,932

498

539

3,953

1,652

828

159

818

334

5,116

215

538

30,915

13,286

1,421

1,552

2,345

1,659

14,340

136

2,862

1,620

10,001

3,375

629

* 2,006

5,966

2,185

596

1,078

274

91

25,684

9,662

5.018 

694

4,932

* 5,465

3,738

3.019 

13,371

2,033

880

296

161,502

132,106

1,845

2,278

794

2,712

1,302

61,406

714

126

322

350

10,127

1,538

3,545

2,033

1,089

984

2,983

8

1,242

300

915

1,496

9,224

6,197

1,456

974

5,455

668

2,346

3,109

1,564

6,290

640

257

4,981

640

469

117

80,760

67,797

2,387

2,657

1,867

2.444

962

51,291

274

2,412

1,278

7,651

3.445 

4,908

935

1,458

7,188

202

94

841

2,122

8

1.242

203

846

1,496

1.242 

3,096

385

482

3,329

668

735

139

640

257

4,335

186

469

25,103

10,836

1,156

1,397

1,610

1,133

10,133

136

2,388

1,164

7,359

3,259

511

1,458

5,096

995

144

861

7,982

3,101

1,071

492

2,126

2,346

2,374

1,564

6,150

646

453

117

55,657

56,961

1,231

1,259

258

1,311

962

41,159

138

23

114

293

186

4,396

2,092

202

(9)

3

15

26

30

39

6

5

44

10

145

32

23

24 

7

44

(9)

75

159

21

91

48

138

13

33

725

384

113

72

178

427

371

1,030

754

77

21

20,153

10,860

179

203

14

104

81

9,511

10

9

25

44

22

505

512

338

19

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Adjusted to December 31, 1957.

anothS^n^ured^bank10^ ^ * 1 ° f non“recoverable insurance expenses in cases which were resolved without payment of claims or a disbursement to facilitate assumption of deposits by

* Number of deposit accounts.

4 Includes estimated additional disbursements in active cases.

« xrXClud*S ®xces® .c®llections turned over to banks as additional purchase price at termination of liquidation.

-None of these disbursements, which include estimated additional disbursements in active cases, are recoverable by the Corporation; they consist almost wholly of field payoff 6Xp6IlS6S •

7 Includes advances to protect assets and liquidation expenses of $46,911 thousand, all of which have been fully recovered by the Corporation, and $162 thousand of non-recoverable 

expenses •

• Less th^o^SOO^0^3^8 ^°r eac^ ^ear re^a^e to cases occurring during that year and may thus contain some amounts disbursed in subsequent years.

i^DEPOSIT INSURANCE DISBURSEMENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 122. A s s e t s a n d L ia b ilit ie s o f In s u r e d B a n k s R e q u ir in g D is b u r s e m e n ts b y t h e 

F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n , 1934-19571

Year

Assets

Total

Liabilities and capital accounts

Cash and 

due from 

banks

U. S. Government 

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking 

house, 

furniture & 

fixtures

Other

real

estate

Other

assets

Total

deposits

Other

liabilities

Capital

stock

Other

capital

accounts*

T ota l....

DEPOSIT 

T ota l___

1934-19545

195 5 

1956

1957 ....

DEPOSIT 

T ota l___

1935-19527

195 3 

1954

195 5 

1956

19578

$133,222,923

PAYOFF C, 

$25,059,231

22,620,382 

1,584,793 

584,562 

269,494

ASSUMPTK

$108,163,692

100,762,016

4,485,650

88,414

2,523,201

304,411

$94,537,438

YSES

$13,170,503

10,154,078

1,861,820

599,205

555,400

ON CASES 

$81,366,935

71,859,396

8,326,289

141,600

600,000

439,650

$75,544,584

$16,187,854

15,946,562

154,627

60,000

26,665

$59,356,730

58,468,524

660,548

2,000

80,000

145,658

$259,480,329

$70,845,916

65,569,217

2,191,398

2,843,374

241,927

$188,634,413

174,870,627

4,878,142

884,925

2,695,617

5,305,102

$23,111,535

$5,560,358

5,375,616

104,298

77,231

3,213

$17,551,177

17,193,027

141,556

1,306

96,671

118,617

$59,587,392

$12,293,687

12,293,686

1

$47,293,705

47,270,110

18,067

5,528

$16,699,439

$9,577,106

8,330,507

52,663

1,037,593

156,343

$7,122,333

5,368,996

319,032

19,431

22,185

1,392,689

$662,183,640

$152,694,655

140,290,048

5,949,599

5,201,965

1,253,043

$509,488,985

475,792,696

18,811,217

1,137,676

6,035,741

7,711,655

$580,966,068

$119,738,190

107,374,564

6,497,918

4,702,628

1,163,080

$461,227,878

429,932,753

18,262,055

990,283

5,464,660

6,578,127

$12,134,701

$10,267,780

10,122,023

7,713

137,742

302

$1,866,921

1,571,192

22,339

13

240

273,137

$64,783,7253

$18,575,5454

18,150,545

140.000

250.000

35.000

$46,208,1806

45,468,180

250.000

50.000

160.000 

280,000

$4,299,146

$4,113,140

4,642,916

-696,032

111,595

54,661

$186,006

-1,179,429

276,823

97,380

410,841

580,391

1 As shown by books of banks after adjustments, if any, for liabilities or overdrafts discovered subsequent to closing.

2 Includes surplus, undivided profits, and reserve funds, minus deficit, if any, as determined after adjustment of books of banks.

3 Includes R. F. C. capital of $25,180,114.

4 Includes R. F. C. capital of $5,896,246.

s There were no deposit payoff cases from 1945 through 1954. For data by years see Annual Report of the Corporation for 1950, p. 280.

6 Includes R. F. C. capital of $19,283,868.

7 For data by years see Annual Report of the Corporation for 1954, p. 168.

8 There were no deposit assumption cases during 1957.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 123. I nsured B an k s R equiring D isbursements b y the F ederal D eposit I nsurance C orporation D uring 1957

Case

number1 Name and location Class of bank Number of 

depositors2 Date of closing First payment 

to depositors

Disbursement* Receiver

Deposit

payoff

252

First State Bank of Yorktown, 

Yorktown, Texas

State bank member 

F. R. System

2,316 April 10, 1957 April 18, 1957 $1,056,444 Federal Deposit Insurance 

Corporation

Assets4 Liabilities and capital accounts4

Case

number Cash and 

due from 

banks

U. S. Government 

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking 

house, 

furniture & 

fixtures

Other

real

estate

Other

assets

Total

Deposits Other

liabilities

Capital

stock

Other

capital

accounts

Deposit

payoff

252

$269,494 $555,400 $26,665 $241,927 $3,213 $1 $156,3435 $1,253,043 $1,163,080 $302 $35,000 $54,661

1 Deposit payoff case number 251 was assigned to the Home National Bank of Ellenville (Ellenville, New York), because of expenses incurred by the Corporation incident to 

anticipated payments to depositors after the bank was placed in receivership; however, the deposits were assumed by another insured bank, with aid by the Corporation, and the bank 

was assigned deposit assumption case number 181: see Annual Report of the Federal Deposit Insurance Corporation for 1956, Table 119, note 3. Deposit payoff case number 253 has 

been assigned to the Del Rio National Bank (Del Rio, Texas), an insured national bank placed in receivership June 20, 1957; this bank was restored to solvency and the receivership 

terminated on July 2, 1957, without the necessity of a principal disbursement by the Corporation.

2 At date of closing.

* To December 31, 1957, plus estimated additional disbursements.

4 As determined by FDIC agents after adjustment of books of bank for liabilities or overdrafts discovered subsequent to closing.

6 Includes shortage account of $155,640, reflecting adjustment for deposit liabilities not shown on the books of the bank prior to closing.

DEPOSIT INSURANCE DISBURSEMENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 124. R e c o v e r i e s a n d L o s s e s b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n o n 

P r i n c ip a l D is b u r s e m e n ts f o r P r o t e c t i o n o f D e p o s it o r s , 1934-1957

(Amounts in thousands of dollars) Oio

Liquidation 

status and 

year of deposit payoff 

or 

deposit 

assumption

All cases

Number

of

banks

Principal

disbursements

Recoveries 

to Dec. 

31, 19571

Estimated

additional

recoveries

Losses*

Deposit payoff cases

Number

of

banks

Principal

disbursements8

Recoveries 

to Dec. 

31, 1957

Estimated

additional

recoveries

Deposit assumption cases

Number

of

banks

Principal

disbursements4

Recoveries 

to Dec. 

31, 19571

Estimated

additional

recoveries

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

Status

Active........

Terminated

Year

193 4 

193 5 

193 6

193 7 

193 8 

193 9 

194 0 

194 1 

194 2 

194 3 

194 4 

194 5 

194 6

194 7 

194 8 

194 9 

195 0 

195 1 

195 2 

195 3 

195 4 

195 5 

195 6

195 7 

432

32

400

9

25

69

75

74

60

43

15

20

5

2

1

1

5

3

4

4 

2

3

2

2

5 

2

1

293,322

108,968

184,354

941

8,890

14,781

19,160

30,480

67,770

74,134

23,880

10,825

7,172

1,503

1,768

265

1,724

2,990

2,552

3,986

1,885

1,369

5,017

913

6,789

3,472

1,056

261,797

97,722

164,075

734

6,156

12,315

15,610

28,055

60,597

70,120

23,234

10,137

7,048

1,462

1,768

265

1,500

2,349

2,183

2,593

1,792

558

5,017

572

5,345

1,615

773

3,522

3,522

16

162

55

150

22

75

1,168

1,516

227

28,003

7,724

20,279

207

2,716

2,459

3,550

2,425

7,157

3,853

591

688

123

40

74

641

369

1,375

5

790

266

277

341

57

251

245

95,553

8,509

87,044

941

6,026

8,056

12,045

9,092

26,196

4,895

12,278

1,612

5,500

404

78,745

5,877

72,868

734

4,274

6,595

9,520

7,908

20,399

4,313

12,065

1,320

5,376

363

4,443

3,009

1,056

3,664

1,440

773

1,958

1,958

503

1,228

227

277

341

57

14,850 181

674 26

14,176 155

207

1,751 1

1,460 27

2,525 25

1,184 24

5,798 28

582 24

213 7

292 14

123 1

40 1

197,769

100,459

97,310

183,052

91,845

91,207

2,865

6,725

7,116

21,387

41,574

69,239

11,602

9,213

1,672

1,099

1,768

265

1,724

2,990

2,552

3,986

1,885

1,369

5,017

913

2,346

463

1,881

5,720

6,090

20,147

40,199

65,807

11,169

8,816

1,672

1,099

1,768

265

1,500

2,349

2,183

2,593

1,792

558

5,017

572

1,681

175

1.564

1.564

16

162

55

288

13,153

7,050

6,103

965

999

1,025

1,241

1,359

3,271

378

397

150 74

641

1 369

18 1,375

88 5

22 790

75 266

665

Note: Due to rounding differences, components may not add precisely to the indicated totals.

1 Excludes in deposit assumption cases recovery of all advances for asset protection, totaling $32,675 thousand, and of all liquidation expenses, totaling $14,236 thousand.

2 Includes estimated losses in active cases. Not adjusted for interest or allowable return, which was collected in some cases in which the disbursement was fully recovered.

* Includes estimated additional disbursements in active cases.

4 Excludes excess collections turned over to banks as additional purchase price at termination of liquidation.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
I n d e x

Absorptions:

Applications to permit....................................................................................... 5

Of insured banks requiring disbursements by the Corporation. See Banks 

in financial difficulties.

Of operating banks, 1957.....................................................................7, 25-26, 84-85

Actuarial data relevant to deposit insurance. See Deposit insurance fund, 

analysis of adequacy of.

Admission of banks to insurance:

Applications for.................................................................................................. 4-5

Different methods followed............................................................................... 4

Number of banks admitted, by class of bank, 1957....................................... 84-85

American Institute of Banking............................................................................... 20

Applications from banks.......................................................................................... 4-5

Areas outside continental United States, banks and branches located in:

Assets and liabilities, December 31, 1957...................................................... 108-109

Deposits, December 31, 1957...........................................................100-101, 108-109

Earnings, expenses, profits, and dividends, 1957...........................................130-131

Number, June 30, 1957............................................................................94-95, 98-99

Number, December 31, 1957...............................................................86, 93, 100-101

Assessments for deposit insurance. See Federal Deposit Insurance Corporation; 

Deposit insurance fund, analysis of adequacy of.

Assets and liabilities of closed banks. See Banks in financial difficulties.

Assets, liabilities, and capital of operating banks (see also Deposits):

All banks:

Amount and changes in, by type and insurance status, 1957..............

...........................................................................................xv, 28-29, 32, 34-35

Amount and changes in, annually, 1948-1957............................................ 30

By FDIC district and State, December 31, 1957...................................108-109

In banks grouped according to insurance status and type of bank,

June 6 and December 31, 1957............................................................104-107

Percentage changes, annually, 1948-1957.............................................. 28-29, 35

Percentage change, by FDIC district, December 31, 1947 to December

31,1957.................................................................................................. 28

Percentage distribution, by FDIC district, December 31, 1947 and

December 31, 1957....................................................................... 30-31, 32-33

Ratio of capital to total assets, by FDIC district, December 31, 1947,

and December 31, 1957.......................................................................... 37-38

Commercial banks, June 6 and December 31, 1957......... 29, 32, 37, 38, 104-107

Insured banks, December 31, 1956, June 6 and December 31, 1957.............

............... ................................................................27, 29, 32, 37, 38, 110-113

Insured commercial banks:

Amount, December 31, 1956, June 6 and December 31, 1957.............

.......................................................................29, 32, 37, 38, 104-107, 110-113

Average for each year, 1949-1957............................................................... 119

Average for 1957, by class of bank............................................................. 123

Average for 1957, by State............................................... 131, 133, 135, 137, 139

Percentage comparison with mutual savings banks, 1957. .. .28-29, 32, 34-35

Percentage distributions, average for each year, 1949-1957..................... 121

Percentage distributions, average for 1957, by class of bank................. 125

Percentage distributions, December 31, 1956, June 6 and December

31, 1957.................................................................................................... I ll

Ratio of capital to total assets, December 31,1957.................................xv, 36-38

Ratio of selected items to total assets, by size of bank, December 31,

1957..................................................................................................37, 114-115

Page

153

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

Insured mutual savings banks:

Amount, December 31, 1956, June 6 and December 31, 1957..............

.......................................................................................29, 32, 37, 38, 110-113

Major categories, average, 1951-1957......................................................... 141

Percentage comparison with commercial banks, 1957..............28-29, 32, 34-35

Percentage distributions, 1951-1957............................................................ 143

Mutual savings banks, June 6 and December 31, 1957... .29, 32, 37, 38, 104-107

Noninsured banks, June 6 and December 31, 1957..........29, 32, 37, 38, 104-107

Sources of data.................................................................................................7-8, 103

State legislation. . ............................................................................................... 76-78

Assets and liabilities of the Federal Deposit Insurance Corporation... .12-13, 20-21

Assets pledged to secure bank obligations............................................................. 113

Assets purchased by the Federal Deposit Insurance Corporation from banks 

in financial difficulties. See Banks in financial difficulties.

Assumption of deposits of insured banks with financial aid of the Corporation.

See Banks in financial difficulties.

Audit of the Federal Deposit Insurance Corporation.......................................12, 20-22

Bad-debt reserves. See Valuation reserves.

Bank supervision. See Supervision of banks; Examination of insured banks.

Banking Act of 1933................................................................................................ 3

Banking offices, number of. See Number of operating banks and branches.

Banking practices. See Unsafe and unsound banking practices.

Banks, applications from, acted on by the Federal Deposit Insurance

Corporation............................................................................................. 4-5

Banks in financial difficulties:

Commercial banks, 1873-1878 and 1930-1933................................................. 64-65

Insured banks requiring disbursements by the Corporation {see also Deposit 

insurance fund, analysis of adequacy of):

Assets and liabilities of, 1934-1957.............................................................. 148

Assets and liabilities of, 1957....................................................................... 149

Deposits protected, 1934-1957.................................................. 8, 11-12, 146-149

Disbursements by the Corporation, 1934-1957. .xv, 8-12, 22n, 146-147, 149-150

Loans made and assets purchased by the Corporation....................9-11, 13, 21

Location by State, 1934-1957..................................................................... 10, 147

Losses incurred by the Corporation.............................9-11, 15, 17, 21-22, 150

Losses incurred by depositors...................................................................... 11-12

Name and location of, 1957......................................................................... 8,149

Number of, 1934-1957......................................................9, 11, 146-147, 149-150

Number of deposit accounts, 1934-1957.......................................11-12, 146-147

Recoveries by the Corporation on assets acquired, 1934-1957... .8, 9—11, 150

Sources of data.................................................................................................64n, 145

Suspensions of noninsured banks, 1957............................................................84, 145

Banks, number of. See Number of operating banks and branches.

Banks operating branches. See Number of operating banks and branches.

Board of Directors of the Federal Deposit Insurance Corporation. See Federal 

Deposit Insurance Corporation.

Board of Governors of the Federal Reserve System................. 4, 5, 6, 7, 20, 103, 117

Branches (see also Number of operating banks and branches):

Establishment approved by Federal Deposit Insurance Corporation, 1957.. 5

Examination of, 1956 and 1957......................................................................... 6

Increase, branches of all banks, 1947-1957..................................................xv, 25-26

Mobile units, establishment of..........................................................................xv, 27

State legislation.................................................................................................. 75

Business and personal deposits. See Deposits (items referring to type of 

account).

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 155

Page

Call reports. See Assets, liabilities, and capital of operating banks; Reports 

from banks.

Capital of banks. See Assets, liabilities, and capital of operating banks; Banks 

in financial difficulties; Earnings and expenses of insured commercial 

banks; Earnings and expenses of insured mutual savings banks; 

Examination of insured banks.

Charge-offs by banks. See Earnings and expenses of insured mutual savings 

banks; Earnings and expenses of insured commercial banks; Valuation reserves.

Class of bank, banking data presented by:

Admissions to and terminations of insurance.................................................. 84-85

Earnings of insured commercial banks, 1957.................................................122-125

Insured banks requiring disbursements by the Corporation, 1934-1957.... 146

Insured banks requiring disbursements by the Corporation, 1957.............. 149

Number of banks and banking offices, 1957.................................................... 84-93

Number of offices of commercial banks, June 30, 1957.................................. 96-97

Ratios of earnings of insured commercial banks, 1957................................. 124-125

Classification of banks............................................................................................. 82-83

Closed banks. See Banks in financial difficulties.

Commercial banks. See Assets, liabilities, and capital of operating banks;

Deposits; Earnings and expenses of insured commercial banks; 

Number of operating banks and branches.

Comptroller General of the United States.........................................................12, 20-22

Comptroller of the Currency...............................................iv-v, 4, 5, 6, 7, 18, 103, 117

Consolidations. See Absorptions.

Coverage of deposit insurance, banks participating___ xv, 3, 25, 27, 84-93, 100-101

Credit, bank. See Assets, liabilities, and capital of operating banks.

Demand deposits. See Assets, liabilities, and capital of operating banks; Deposits (items referring to type of account).

Deposit insurance fund, analysis of adequacy of:

Aid to banks by agencies other than FDIC.................................................... 58-60

Assessment rate, proposals to reduce............................................ 49, 51, 55, 56, 72

Banking experience since 1933..........................................................51-52, 60-61, 66

Borrowing power of FDIC, function o f.................................................50, 61, 65, 72

Capital stock, retirement of.............................................................................. 53-54

Concentration of risk:

In banks with very small capital ratios.....................................52, 60, 62-63, 66

In banks, by size................................................................................52, 61-62, 64

Contingencies FDIC should be prepared to meet:

Deep depression..................................................................................49-50, 65-66

Serious local or regional economic disturbances....................................49, 66-72

Employment Act of 1946................................................................................... 65

Experience of FDIC since 1934:

Assets acquired through disbursements to protect depositors... .51, 55-58, 66

Disbursement and loss experience, 1934-1956........................... 50-51, 55-59, 61

Ratios of deposit insurance fund to insured and total deposits, 1934-1956.53 -55

Experience of Nation with bank failures prior to 1934................................. 51-52

1873-1878...................................................................................................... 64-65

1898-1920....................................................................................................... 60

1922-1929....................................................................................................... 66-71

1930-1933.................................................................................................. 50, 64-66

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

Farm Credit Administration, aid to banks...................................................... 59, 60

Financial Institutions Act of 1957, proposed...................................................18, 49

Function of fund................................................................................................. 50

Home Owners Loan Corporation, aid to banks............................................... 59, 60

Hypothetical fund, 1900-1930........................................................................... 66-71

Maintenance of confidence in banking system................................................ 72

Projected income and fund of FDIC, 1957-1980............................................. 55-57

Rate of growth of circulating medium............................................................. 54-55

Reconstruction Finance Corporation, aid to banks........................................ 59, 60

Summary and conclusions..................................................................................xv, 72

Deposits:

All banks:

By insurance status of bank and type of account, December 31,1957.36-37,107

By insurance status of bank and type of account, June 6, 1957............. 105

By type of account in each State and FDIC district, December 31,

1957........................................................................................................108-109

By type of bank and insurance status, December 31, 1957.................27, 36-37

By type of bank in each State and FDIC district, December 31, 1957.. 100-101

Changes in, 1948-1957.................................................................................. 35-37

Percentage change, annually, 1948-1957.................................................... 35

Percentage change, 1947 to 1957................................................................ 37

All insured banks:

By type of account, December 31, 1957....................................................37, 107

By type of account, December 31,1956, June 6 and December 31,1957.. 112

Ratios of deposit insurance fund to, 1934-1957................. xv, 17, 22n, 53-55

In 25 largest banks, compared with deposit insurance fund, December

31, 1956.................................................................................................... 61-62

Commercial banks:

By FDIC district and State, December 31, 1957....................................100-101

By type of account, December 31, 1957.................................................... 107

By type of account, June 6, 1957................................................................ 105

Insured banks requiring disbursements by the Corporation. See Banks in 

financial difficulties.

Insured commercial banks:

Amount, by type of account, December 31, 1956, June 6 and December

31, 1957............................................. ....................................................37, 112

Amount, in banks with very small capital ratios, June 30, 1956.......... 62-63

Percentage decline, by districts, between June 30, 1955, and June 6,

1957......................................................................................................... 36

Insured mutual savings banks:

By FDIC district and State, December 31, 1957....................................100-101

By type of account, December 31, 1956, June 6 and December 31, 1957. . 112

Interest and dividends on, 1948 and 1951-1957................. 43, 140, 142-143

Mutual savings banks:

By FDIC district and State, December 31, 1957....................................100-101

By type of account, June 6 and December 31, 1957........................37, 105, 107

Noninsured banks:

By FDIC district and State, December 31, 1957....................................100-101

By type of account and type of bank, June 6 and December 31, 1957

.........................................................................................................37, 105, 107

Sources of data.................................................................................................... 103

State legislation.................................................................................................. 76

Deposits, insured by FDIC, December 31, 1934-1957......................................... 17

Directors of the Federal Deposit Insurance Corporation. See Federal Deposit 

Insurance Corporation.

Disbursements. See Banks in financial difficulties.

Dividends:

To depositors in insured mutual savings banks..................... 39, 43, 140, 142-143

To stockholders of operating insured commercial banks. See Earnings and 

expenses of insured commercial banks.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 157

Page

Earnings and expenses of insured commercial banks:

Amounts of principal components:

Annually, 1949-1957................................................................................... 118-119

By class of bank, 1957............................................................................... 122-123

By size of bank, 1957.................................................................................126-127

By State, 1957.............................................................................................130-139

Charge-offs, recoveries, and changes in valuation reserves..........40, 41, 42, 43-44

Income, sources and disposition of total, 1948, 1953-1957............................ 39-41

Profits, 1949-1957.........................................................................................44-45, 119

Rate of income on assets, 1949-1957................... 39-40, 120-121, 124-125, 128-129

Rate of net profit on total capital accounts, 1957..................... xv, 44, 120, 125, 129

Ratios of earnings items:

Annually, 1949-1957.............................................................................44, 120-121

By class of bank, 1957............................................................................... 124-125

By size of bank, 1957...................................................................45, 114, 128-129

Ratios of expense items..............................................41, 120-121, 124-125, 128-129

Sources of data................................................................................................... 117

Earnings and expenses of insured mutual savings banks:

Amounts of principal components, 1951-1957................................................140-141

Income, sources and disposition of total, 1948, 1953-1957..................... 39, 41, 43

Rate of income on assets, 1951-1957..........................................................39-40, 143

Ratios of earnings items, 1951-1957................................................................142-143

Ratios of expense items............................................................................. 41, 142-143

Sources of data.................................................................................................... 117

Educational program for bank examiners. See Federal Deposit Insurance Corporation.

Employees:

Federal Deposit Insurance Corporation........................................................... 18-20

Insured commercial banks:

Number and compensation, 1949-1957.............................................. 41, 118-119

Number and compensation, by class of bank, by size of bank, and by

State, 1957............................................................. 122-123, 126-127, 130-139

Insured mutual savings banks, number and compensation, 1948 and

1951-1957.................................................................................. 41, 43, 140-141

State legislation.................................................................................................. 78-79

Employment Act of 1946......................................................................................... 65

Examination of insured banks:

Banks examined by the Federal Deposit Insurance Corporation, 1956-1957. . 5-6 

Examination staff........................................................................................... vi, 18-19

Expenses of banks. See Earnings and expenses of insured commercial banks; 

Earnings and expenses of insured mutual savings banks.

Expenses of the Corporation. See Federal Deposit Insurance Corporation, 

income and expenses.

Failures. See Banks in financial difficulties.

Farm Credit Administration, aid to banks............................................................ 59, 60

Federal bank supervisory authorities..................................................................... 3-6

Federal Deposit Insurance Act (see also Legislation relating to deposit insurance and banking)..................... iii, 3, 4, 6-7, 12, 13-14, 16n, 18, 20, 22n

Federal Deposit Insurance Corporation (see also Deposit insurance fund, 

analysis of adequacy of):

Assessments on insured banks.................................12-17, 21-22, 49, 51, 55, 56, 72

Assets and liabilities.......................................................................................12-13, 21

Audit......... ......................................................................................................12, 20-22

Banks examined by, and submitting reports to .............................................. 5-8

Board of Directors, actions on applications and banking practices............. 4-7

Borrowing power..................................................................13n, 22n, 50, 61, 65, 72

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Capital stock..........................................................................................13n, 16, 53-54

Coverage of deposit insurance........................................................................... 3

Deposit insurance fund (surplus)............................................ xv, 12-17, 21-22, 72

Directors (members of the Board)..........................................................iv-v, 18, 49

Disbursements for protection of depositors. See Banks in financial difficulties.

Districts............................................................................................................... vi-vii

Divisions............................................................................................................iv-v, 19

Educational program for bank examiners........................................................ 20

Employees........................................................................................................... 18-20

Examination of banks. See Examination of insured banks.

Expenses. See Income and expenses.

Financial statements......................................................................................12, 20-22

Income and expenses.....................................................................................13-16, 22

Insured banks requiring disbursements by. See Banks in financial difficulties.

Liabilities........................................................................................................ 12-13, 21

Loans to and purchase of assets from insured banks. See Banks in financial 

difficulties.

Losses incurred, 1934-1957. See Banks in financial difficulties.

Methods of protecting depositors. See Banks in financial difficulties.

Organization and staff.............................................................................iv-vi, 18-19

Payments to insured depositors. See Banks in financial difficulties.

Protection of depositors. See Banks in financial difficulties.

Recoveries. See Banks in financial difficulties.

Reports from banks............................................................................................ 7-8

Reserve for losses on assets acquired.............................................. 13, 15, 17, 21-22

Retirement of capital stock of the Corporation............................... 13n, 16n, 53-54

Rules and regulations......................................................................................... 75

Supervisory activities......................................................................................... 3-8

Federal Deposit Insurance Corporation districts, banking data classified by:

All banks:

Assets and liabilities, December 31, 1957.................................................. 108

Number and deposits, by type of bank, December 31,1957..................... 100

Percentage change in total assets, December 31, 1947, to December

31, 1957.................................................................................................... 28

Percentage distribution of assets, December 31, 1947, and December

31, 1957.................................................................................................... 30-31

Percentage distribution of loans, December 31, 1947, and December

31, 1957.................................................................................................... 32-33

Ratio of capital to total assets, December 31, 1947, and December 31,

1957.......................................................................................................... 37-38

Insured commercial banks:

Deposits, decline in, by number and percentage of banks, between

June 30, 1955, and June 6, 1957........................................................... 35-36

Percentage distribution of disposition of total income, 1948 and 1957.. 41-42

Federal Reserve System. See Board of Governors of the Federal Reserve System.

Financial Institutions Act of 1957, proposed........................................................ 18, 49

General Accounting Office...................................................................................12, 20-22

Government deposits. See Deposits (items referring to type of account).

Home Owners Loan Corporation, aid to banks.................................................... 59, 60

Income of insured banks. See Earnings and expenses of insured commercial 

banks; Earnings and expenses of insured mutual savings banks.

Income of the Federal Deposit Insurance Corporation. See Federal Deposit 

Insurance Corporation.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 159

Page

Insolvent banks. See Banks in financial difficulties.

Insurance status, banks classified by:

Assets and liabilities, December 31, 1956, June 6 and December 31, 1957..

. v .......................................................................................... 104-107, 110-113

Changes in number, 1957................................................................................... 84-85

Deposits, June 6 and December 31, 1957........................................ 100-101, 105, 107

Number, June 30, 1957...................................................................................... 96-97

Number, December 31, 1957............................................................................. 84-93

Percentage of banks insured, by State, December 31, 1957........................... 86-93

Insured banks. See Assets, liabilities, and capital of operating banks; Banks 

in financial difficulties; Deposits; Earnings and expenses of insured 

commercial banks; Earnings and expenses of insured mutual savings 

banks; Number of operating banks and branches.

Insured commercial banks not members of the Federal Reserve System. See

Class of bank, banking data presented by.

Insured deposits. See Banks in financial difficulties.

Insured State banks members of the Federal Reserve System. See Class of 

bank, banking data presented by.

Interbank deposits. See Deposits (items referring to type of account).

Interest. See Earnings and expenses of insured commercial banks; Earnings 

and expenses of insured mutual savings banks.

Investments. See Assets, liabilities, and capital of operating banks; Assets and 

liabilities of the Federal Deposit Insurance Corporation; Banks in 

financial difficulties; Examination of insured banks.

Law, violations of by insured banks. See Unsafe and unsound banking practices.

Legislation relating to deposit insurance and banking:

Federal, enacted in 1957.................................................................................... 18, 75

State, enacted in 1957.............................................................................xv, 18, 75-79

Loans. See Assets, liabilities, and capital of operating banks; Banks in financial 

difficulties; Examination of insured banks.

Losses:

Of banks, charged off. See Earnings and expenses of insured commercial 

banks; Earnings and expenses of insured mutual savings banks.

Of the Federal Deposit Insurance Corporation. See Federal Deposit Insurance Corporation; Banks in financial difficulties.

Provision for, in banks, 1949-1957......................................................43-45, 118-119

Mergers. See Absorptions.

Methods of tabulating banking data:

Assets and liabilities of operating banks.......................................................... 103

Deposit insurance disbursements...................................................................... 145

Earnings, expenses, and dividends of insured banks...................................... 117

Number, offices, and deposits of operating banks........................................... 82-83

Metropolitan areas, banking data classified by. See Number of operating 

banks and branches.

Mobile branch units.................................................................................................xv, 27

Mutual savings banks. See Assets, liabilities, and capital of operating banks;

Deposits; Earnings and expenses of insured mutual savings banks; 

Number of operating banks and branches.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

National banks. See Class of bank, banking data presented by.

Net assessment income credits. See Federal Deposit Insurance Corporation, 

assessments on insured banks.

Net earnings of insured commercial banks. See Earnings and expenses of insured commercial banks.

Net profits of insured commercial banks. See Earnings and expenses of insured 

commercial banks.

New banks. See Number of operating banks and branches.

Noninsured banks. See Absorptions; Admission of banks to insurance; Assets, 

liabilities, and capital of operating banks; Class of bank, banking 

data presented by; Deposits; Number of operating banks and 

branches; Reports from banks.

Number of operating banks and branches:

Banking offices (banks and branches):

By character of branch system, location of branch, population of center

in which located, and State, June 30, 1957.......................................... 94-95

By insurance status, type of bank, and State, December 31, 1957. . . . 84-93

Changes, 1947 to 1957................................................................................. 25-26

By metropolitan areas and type of office, June 30, 1957......................... 98-99

Percentage changes, by State, 1947 to 1957.............................................. 25-26

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

type of office, insurance status, and population of center, June 30,

1957.......................................................................................................... 96-97

Banks:

By insurance status and type of bank, December 31, 1957............... 27, 84, 107

By insurance status and type of bank, June 6, 1957................................ 105

By insurance status, type of bank, and State, December 31, 1957. . . . 86-93 

By insurance status, type of bank, FDIC district and State, December

31, 1957..................................................................................................100-101

Changes during 1957, by insurance status and type of bank..........xv, 25-27, 84

Operating branches, by character of branch system, location of branch

and population of center in which located, and State, June 30, 1957. . 94-95 

Operating branches, by insurance status and State, December 31, 1957 86-93

Operating branches, by metropolitan areas, June 30, 1957................. 98-99

Operating branches, by number of banking offices in center in which

located, population of center, and insurance status, June 30, 1957. . 96-97 

Branches:

By insurance status, type of bank, and State, December 31, 1957......... 85-93

By location of branch and by population of center in which located,

and State, June 30, 1957........................................................................ 94-95

By metropolitan areas, June 30, 1957........................................................ 98-99

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

insurance status, and population of center, June 30, 1957............. 96-97

Changes during 1957, by insurance status and type of bank.............. 25-26, 85

Mobile units, establishment o f....................................................................xv, 27

Insured banks, December 31, 1956, June 6, and December 31, 1957............ 113

Insured commercial banks:

December 31, 1949-1957.............................................................................. 119

December 31, 1957, by class, deposit size of bank, and State.................

...................................................................... 123, 127, 131, 133, 135, 137, 139

Distributed by capital ratios and distribution of assets, December

31, 1957..................................................................................................114-115

With declines in deposits, June 30, 1955 to June 6, 1957......................... 36

Mutual savings banks, December 31, 1957.......................................... 27, 84, 86-93

Trust companies, December 31, 1957.................................................... 27, 84, 86-93

Unit banks, by insurance status and State, December 31, 1957................... 86-93

Unit banks, by metropolitan areas, June 30, 1957.................. ...................... 98-99

Unit banks, by number of banking offices in center, population of center,

and insurance status, June 30, 1957...................................................... 96

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 161

Page

Obligations of banks. See Assets, liabilities, and capital of operating banks; 

Deposits.

Officers of insured banks. See Employees.

Officers of the Federal Deposit Insurance Corporation.....................................v-vi, 18

Operating banks. See Number of operating banks and branches.

Payments to depositors in closed insured banks. See Banks in financial 

difficulties.

Personnel. See Employees.

Population of center, banking data classified by:

Number of commercial banks operating branches, number of branches,

and character of branch system, June 30, 1957................................... 94-95

Number of operating banking offices of commercial banks, by number in 

center in which located, type of office, and insurance status, June 

30, 1957.................................................................................................... 96-97

Possessions, banks and branches located in. See Areas outside continental 

United States, banks and branches located in; Mobile branch 

units.

Profits. See Earnings and expenses of insured commercial banks.

Protection of depositors. See Banks in financial difficulties.

Public funds. See Deposits (items referring to type of account).

Puerto Rico. See Mobile branch units.

Receivership, insured banks placed in. See Banks in financial difficulties.

Reconstruction Finance Corporation, aid to banks.............................................. 59, 60

Recoveries:

By banks on assets charged off. See Earnings and expenses of insured commercial banks; Earnings and expenses of insured mutual savings 

banks.

By the Corporation on disbursements. See Banks in financial difficulties.

Reports from banks.................................................................................................. 7-8

Reserves:

Of Federal Deposit Insurance Corporation, for losses on assets acquired

................................................................................................13, 15, 17, 21-22

Of insured banks for losses on assets. See Valuation reserves.

With Federal Reserve banks. See Assets, liabilities, and capital of operating 

banks.

Salaries and wages:

Federal Deposit Insurance Corporation.......................................................15, 21-22

Insured banks. See Earnings and expenses of insured commercial banks; 

Earnings and expenses of insured mutual savings banks.

Savings and time deposits. See Deposits (items referring to type of account).

Securities. See Assets, liabilities, and capital of operating banks; Assets and 

liabilities of the Federal Deposit Insurance Corporation; Banks in 

financial difficulties; Examination of insured banks.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Size of bank, data for banks classified by amount of deposits:

Assets and liabilities, insured commercial banks operating throughout

1 9 5 7 .................................................................................................. 127, 129

Banks requiring disbursements by the Corporation, 1934-1957..................... 146

Disbursements for protection of depositors, 1934-1957................................... 146

Earnings data of insured commercial banks, 1957........................................ 126-127

Earnings ratios of insured commercial banks, 1957................45, 114-115, 128-129

Largest insured banks, twenty-five, December 31, 1956................................ 61-62

Number of employees of insured commercial banks operating throughout

1957. t........................................................................................................ 127

Number of insured commercial banks operating throughout 1957..........127, 129

Number of insured commercial banks grouped by ratios of selected items

to assets, December 31, 1957............................................................... 114-115

State bank supervisory authorities:

Activities of prior to 1933.................................................................................. 3

Data obtained from............................................................................................8, 103

State legislation regarding................................................................................. xv, 75

State, banking data classified by:

Assets and liabilities of operating banks, December 31, 1957......................108-109

Deposits of operating banks, by class of bank, December 31, 1957... .100-101 

Disbursements, deposits, and depositors in insured banks requiring disbursements by the Corporation, 1934-1957......................................... 10, 147

Earnings and expenses of insured commercial banks, 1957.........................130-139

Number of commercial banks operating branches, and number of branches, 

by character of branch system, location of branch and population

of center in which located, June 30, 1957............................................ 94-95

Number of operating banks and branches, by class of bank and type of

office, December 31, 1957....................................................................... 86-93

Number of operating banks, by class of bank, December 31, 1957..........100-101

Percentage change in number of banking offices, 1947-1957......................... 25-26

Percentage of banks insured, December 31, 1957........................................... 86-93

State banking legislation enacted in 1957..........................................................18, 75-79

State banks members of the Federal Reserve System. See Class of bank, banking 

data presented by.

State banks not members of the Federal Reserve System. See Class of bank, 

banking data presented by.

State deposit insurance systems............................................................................. 3, 52

Stockholders of banks, net profits available for. See Earnings and expenses of 

insured commercial banks.

Summary of this report........................................................................................... xv

Supervision of banks {see also Examination of insured banks):

By the Federal Deposit Insurance Corporation............................................ vi, 3-8

State legislation, 1957:

Prior to 1933................................................................................................. 3-4

In 1957.......................................................................................................... 75

Suspensions. See Banks in financial difficulties.

Taxes paid by insured banks. See Earnings and expenses of insured commercial 

banks; Earnings and expenses of insured mutual savings banks.

Terminations of insurance for unsafe and unsound practices................................. 6-7

Time and savings deposits. See Deposits (items referring to type of account).

Trust companies, classification of........................................................................... 82-83

Trust powers:

Applications for.................................................................................................. 5

State legislation.................................................................................................. 78

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 163

Page

Unit banks. See Number of operating banks and branches.

Unsafe and unsound banking practices............................................................xv, 6-7

Valuation reserves (see also Assets, liabilities, and capital of operating banks):

Amounts held, December 31, 1956, June 6 and December 31, 1957..........

........................................................................................... 43-45, 104, 106, 111

Changes, 1949-1957.............................................................. 42-45, 118-119, 140-141

Violations of law or regulations, banks charged with. See Unsafe and unsound 

banking practices.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis