ANNUAL REPORT

OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

FOR THE YEAR ENDED

DECEMBER 31, 1952

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Federal Reserve Bank of St. Louis
LETTER OF TRANSMITTAL.

F ederal D eposit I nsurance C orporation

Washington, D. C., August 17, 1958

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

Deposit Insurance Act, the Federal Deposit Insurance Corporation 

has the honor to submit its annual report.

Respectfully,

H. E. C ook, Chairman

T h e P resident of th e Sen ate

T h e Sp eak er of t h e H ouse of R epr esentatives

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FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

N a t io n a l P r e ss B u il d in g — W a s h in g t o n 25, D. C.

BOARD OF DIRECTORS

Chairman......................................................................................H. E. Cook

Comptroller of the Currency....................................................... Ray M. Gidney

Director......................................................................................... Maple T. H arl

OFFICIALS—AUGUST 17, 1953

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

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

Chief, Division of Examination................................................Vance L. Sailor

Chief, Division of Liquidation.................................................. Edward C. Tefft

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

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

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

Deputy Controller....................................................................Jack Sronce

Fiscal Agent.............................................................................A. E. Anderson

Director of Personnel..............................................................Floyd E. Tift

Director of Services................................................................. Henry T. Ivey

Assistant to Board (Information and Publications)...............Forbes Campbell

V

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Federal Reserve Bank of St. Louis
DISTRICT OFFICES

D is t . S u p e r v is in g

No. E x a m in e r

1. Lundie W. Barlow

2. Neil G. Greensides

3. Gilbert E. Mounts

4. Robert N. McLeod

5. John E. Freeman

6. Charles M. Dunn

7. Raby L. Hopkins

8. Eugene R. Gover

9. Charles F. Alden

10. Hugh Williams

11. Lloyd Thomas

A dd r e ss

Room 1365, No. 10 P.O.

Square, Boston 9, Mass.

Room 1900, 14 Wall Street,

New York 5, N. Y.

City National Bank

Building, 20 East Broad

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.

1200 Minnesota Building,

St. Paul 1, Minn.

1201 Federal Reserve Bank

Building, Kansas City 6,

Missouri

Federal Reserve Bank

Building, Station K,

Dallas 13, Tex.

St a t e s i n d istr ic t

Maine, New Hampshire,

Vermont, Massachusetts,

Rhode Island, Connecticut

New York, New Jersey,

Delaware, Puerto Rico,

Virgin Islands

Ohio, Pennsylvania

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

South Carolina

Georgia, Florida, Alabama,

Mississippi

Kentucky, Tennessee,

Missouri, Arkansas

Indiana, Michigan,

Wisconsin

Illinois, Iowa

Minnesota, North Dakota,

South Dakota, Montana

Nebraska, Kansas,

Oklahoma, Colorado,

Wyoming

Louisiana, Texas,

New Mexico, Arizona

12. William P. Funsten Suite 1120, 315 Montgomery Street, San

Francisco 4, Calif.

Idaho, Utah, Nevada,

Washington, Oregon, California, Alaska, Hawaii

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Federal Reserve Bank of St. Louis
Vll

FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICTS

DISTRICT 2 INCLUDES PUERTO RICO & VIRGIN ISLANDS

DISTRICT 4 INCLUDES DISTRICT OF COLUMBIA

DISTRICT 12 INCLUDES HAWAII & ALASKA

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Federal Reserve Bank of St. Louis
CONTENTS

Page

Summary......... .... xvii

PART ONE

OPERATIONS OF THE CORPORATION

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

Action to protect depositors in failing banks............................................................ 7

Supervisory activities..................................................................................................... 12

Legal developments......................................................................................................... 16

Personnel........................................................................................................................... 17

Financial statements of the Corporation.................................................................... 19

PART TWO

BANKING DEVELOPMENTS

Assets and liabilities of all banks................................................................................. 31

Assets and liabilities of insured commercial banks.................................................. 37

Income of insured commercial banks.......................................................................... 40

Mutual savings banks..................................................................................................... 50

Income of insured mutual savings banks................................................................... 53

PART THREE

INSURANCE OF BANK OBLIGATIONS PRIOR TO

FEDERAL DEPOSIT INSURANCE

State systems of bank-obligation insurance............................................................... 59

Insurance of bank obligations in six States, 1829-1866........................................... 60

Guaranty of circulating banknotes by the Federal Government.......................... 65

Insurance of bank deposits in eight States, 1907-1930............................................ 66

PART FOUR

LEGISLATION AND REGULATIONS

Federal legislation............................................................................................................ 75

Rules and regulations of the Corporation.................................................................. 79

State banking legislation............................................................................................... 79

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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

Assets and liabilities of operating banks.................................................................... 100

Earnings, expenses, and dividends of insured banks................................................ 112

Deposit insurance disbursements................................................................................. 138

ix

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Federal Reserve Bank of St. Louis
LIST OF CHARTS

Page

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

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

A. Ratios of deposit insurance fund to total and insured deposits, all insured

banks, December 31, 1934-1952...................................................................... 5

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

Corporation for the year ended December 31, 1952.................................... 22

C. Percentage distributions of total assets and of loans and discounts, all

banks, December 31, 1952................................................................................. 32

D. Percentage distributions of total liabilities and capital accounts, of deposits, and of capital accounts, all banks, December 31, 1952............... 33

E. Percentage distribution of loans, all banks, December 31, 1946-1952........ 36

F. Sources and disposition of total income, insured commercial banks, 1952.. 41

G. Rate of income on loans, insured commercial banks, 1952............................ 44

H. Average salary of employees, insured commercial banks, 1952..................... 45

I. Rates of net profit after taxes on total capital accounts, insured commercial

banks, 1952........................................................................................................... 48

J. Rates of net profit and cash dividends, insured commercial banks, 1952.. 49

K. Percentages of total deposits and time deposits of all banks held by mutual

savings banks, December 31, 1952.................................................................. 50

L. Sources and disposition of total income, insured mutual savings banks, 1952 53

L IS T OF T A B L E S

PART ONE

OPERATIONS OF THE CORPORATION

Page

D e p o sit in s u r a n c e c o v e r a g e :

1. Insured deposits and the deposit insurance fund, December 31,1934-1952.. 4

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

U. S. and other areas), December 31, 1952................................................... 5

3. States ranked according to percentage of banks of deposit which were insured and percentage of deposits which were in insured banks, December

31, 1952................................................................................................................. 6

A c t io n to pr o tec t d e p o sit o r s in f a il in g b a n k s :

4. Losses to depositors and to the Federal Deposit Insurance Corporation in

insured banks in financial difficulties, by years, 1934-1952........................ 8

5. Number of depositors, amount of deposits, recoveries, and losses in insured

banks placed in receivership or absorbed with the financial aid of the

Corporation, 1934-1952...................................................................................... 9

6. Analysis of disbursements and recoveries of the Federal Deposit Insurance

Corporation in transactions for protection of depositors and to facilitate

termination of liquidations, 1934-1952........................................................... 10

7. Estimated cumulative losses to the Corporation on principal disbursements

for protection of depositors, compared with disbursements, by year of

estimate, 1944-1952............................................................................................. 12

X

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Federal Reserve Bank of St. Louis
LIST OF TABLES XI

Page

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

8. Actions to terminate insured status of banks charged with engaging in

unsafe or unsound practices or violations of law or regulations, 1936-1952 15

P e r s o n n e l :

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

Corporation, December 31, 1952...................................................................... 18

F in a n c ia l s t a t e m e n t s of t h e c o r p o r a t io n :

10. Statement of condition of the Federal Deposit Insurance Corporation,

December 31, 1952.............................................................................................. 20

11. Statement of operations of the Federal Deposit Insurance Corporation

for the year ended December 31, 1952........................................................... 21

12. Determination of net assessment income for the calendar year 1952 and

distribution of net assessment income, December 31, 1952....................... 22

13. Operating expenses of the Federal Deposit Insurance Corporation for the

year ended December 31, 1952........................................................................ 23

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

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

31, 1952, adjusted as of December 31, 1952.................................................. 24

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

December 31, 1934-1952.................................................................................... 25

16. Financial statements of the Federal Deposit Insurance Corporation—

from auditor report for the year ended June 30, 1952............................. 27

PART TWO

BANKING DEVELOPMENTS

A sse ts a n d l ia b il it ie s of a l l b a n k s :

17. Amounts and changes in assets and liabilities, all banks in the United

States (continental U. S. and other areas), 1952......................................... 31

18. Assets and liabilities, all banks in the United States (continental U. S. and

other areas), December 31, 1946-1952............................................................ 34

19. Percentage changes in assets and liabilities, all banks in the United States

(continental U. S. and other areas), yearly and annual average, 1947-1952 35

20. Percentage distribution of assets and liabilities, all banks in the United

States (continental U. S. and other areas), December 31, 1946-1952.. 35

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

21. Assets and liabilities, insured commercial banks in the United States

(continental U. S. and other areas), December 31, 1946-1952.................. 37

22. Amount and percentage distribution of United States Government obligations held by insured commercial banks in the United States (continental

U. S. and other areas), December 31, 1952................................................... 38

23. Total assets, total loans, and other loans to individuals, insured commercial banks in the United States (continental U. S. and other areas),

December 31, 1946-1952.................................................................................... 39

24. Percentages illustrating recent growth and present relative importance of

other loans to individuals, insured commercial banks in the United

States (continental U. S. and other areas).................................................... 39

I n c o m e o f in s u r e d c o m m e r c ia l b a n k s :

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

United States (continental U. S. and other areas), 1947-1952.................. 42

26. Percentage distribution of sources and disposition of total income, insured

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

areas), 1947-1952................................................................................................. 42

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xii FEDERAL DEPOSIT INSURANCE CORPORATION

Page

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

27. Selected operating ratios, insured commercial banks in the United States

(continental U. S. and other areas), 1947-1952............................................ 43

28. Number and percentage of insured commercial banks reporting reserves

for bad debts pursuant to section 23(K)1 of the Internal Revenue Code,

and amount of reserves so held, December 31, 1948-1952, with banks

operating throughout 1952 grouped by amount of deposits for December

31, 1952................................................ : .......................... ................................... 47

M u t u a l s a v in g s b a n k s :

29. Assets and liabilities, mutual savings banks, December 31, 1946-1952. . . . 51

30. Number and deposits, insured and noninsured mutual savings banks, by

State, December 31, 1952.................................................................................. 52

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

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

1951-1952.............................................................................................................. 54

PART THREE

INSURANCE OF BANK OBLIGATIONS PRIOR TO

FEDERAL DEPOSIT INSURANCE

I n s u r a n c e o f b a n k o b l ig a t io n s in s i x s t a t e s, 1829-1866:

32. State insurance systems for the protection of bank creditors prior to 1933 61

33. Principal provisions of bank-obligation insurance plans adopted by six

States, 1829-1858................................................................................................. 62

34. Maximum number of banks participating in insurance systems, six States,

1829-1866.............................................................................................................. 64

I n s u r a n c e o f b a n k d e p o sit s in e ig h t s t a t e s, 1907-1930:

35. Principal provisions of deposit insurance plans adopted by eight States,

1907-1917.............................................................................................................. 68

36. Maximum number of banks participating in deposit insurance, eight

States, 1908-1930................................................................................................. 70

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

N u m b e r , o f f ic e s, a n d d e p o sit s o f o p e r a t in g 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 1952.... 84

102. Number of operating banks and branches in the United States (continental

U. S. and other areas), December 31, 1952

Grouped according to insurance status and class of hanky 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 30,1952

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, 1952

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 and deposits of operating banks in the United States (continental

U. S. and other areas), December 31, 1952

Banks grouped according to insurance status and by district and State.. 98

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LIST OF TABLES xiii

Page

Assets and liabilities op operating banks:

Explanatory note............................................................................................................. 100

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

U. S. and other areas), June 30, 1952

Banks grouped according to insurance status and type of bank.............. 102

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

U. S. and other areas), December 31, 1952

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, 1952

Banks grouped by district and State............................................................ 106

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

(continental U. S. and other areas), December 31, 1952, June 30, 1952,

and December 31, 1951.................................................................................... 108

Earnings, expenses, and dividends of insured banks:

Explanatory note............................................................................................................. 113

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

United States (continental U. S. and other areas), 1944-1952.......... 114

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

in the United States (continental U. S. and other areas), 1944-1952.. 116

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

United States (continental U. S. and other areas), 1952

By class of bank............................................................................................. 118

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

in the United States (continental U. S. and other areas), 1952

By class of bank............................................................................................. 120

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

throughout 1952 in the United States (continental U. S. and other areas)

Banks grouped according to amount of deposits........................................ 122

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

operating throughout 1952 in the United States (continental U. S. and

other areas)

Banks grouped according to amount of deposits........................................ 124

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

United States (continental U. S. and other areas), by State, 1952 .... 126

117. Income, expenses, and dividends of insured mutual savings banks, 1952.. 136

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

banks, 1952......................................................................................................... 137

Deposit insurance disbursements:

Explanatory note............................................................................................................. 139

119. Disbursements, deposits, and depositors in insured banks financially aided

by the Federal Deposit Insurance Corporation, 1934-1952

Banks grouped by class of bank, year of aid} amount of deposits, and

State.............................................................................................................. 140

120. Assets and liabilities of insured banks placed in receivership and of insured banks absorbed with the financial aid of the Federal Deposit

Insurance Corporation, 1934-1952

As shown by books of bank at date of closing............................................. 142

121. Name, location, Federal Deposit Insurance Corporation disbursement,

and assets and liabilities of insured banks absorbed with the financial

aid of the Corporation during 1952............................................................... 143

122. Recoveries and losses by the Federal Deposit Insurance Corporation in

connection with insured banks financially aided by the Corporation,

1934-1952

As shown by books of FDIC, December 31, 1952..................................... 144

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Federal Reserve Bank of St. Louis
SUMMARY

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S u m m a r y

At the close of 1952 the deposit insurance fund of the Federal Deposit 

Insurance Corporation was equal to 0.72 percent of the $188 billion of 

total deposits in insured banks. Of those deposits, $102 billion, or 54 

percent, were insured. A total of 13,645 banks were insured at the end 

of the year, representing, both in number and in amount of deposits, 

over nine-tenths of the nation’s banks. (Pp. 3-5).

In 1952 the Corporation disbursed $1.3 million to make possible the 

assumption, by other insured banks, of the deposit liabilities of three 

banks in financial difficulties. Since the beginning of deposit insurance 

the Corporation has made principal disbursements of $276 million for 

protection of depositors of 420 banks, and has recovered all but 10 percent 

of such disbursements. Inclusion of related disbursements and recoveries 

further reduces the loss ratio. (Pp. 7-12).

Assets of the Corporation at the close of 1952 were $1,444 million. 

Liabilities were $81 million, leaving $1,363 million in the deposit insurance fund. Income of the Corporation was $162 million during the 

year. Approximately one-half of this income was added to the deposit 

insurance fund, and most of the remainder was returned to insured banks 

in the form of net assessment income credits. (Pp. 19-23).

Total assets of all banks in the United States grew five percent during 

1952, reaching $215 billion at the end of the year. Total deposits and 

total capital accounts also grew five percent during the year. This growth 

continued the trend of recent years. A shift in composition of bank assets 

toward a larger proportion of loans and a smaller proportion of United 

States Government obligations also continued. (Pp. 31-35).

Over one-half of the total income of insured commercial banks in 

1952 was derived from loans, and approximately one-fourth from United 

States Government obligations. Profits of banks increased over their

1951 level, due to larger holdings of earning assets and to higher average 

rates of income on most types of assets. (Pp. 40-47).

Between 1829 and 1930, fourteen States adopted insurance plans in 

order to prevent severe fluctuations of the circulating medium and to 

protect individual bank creditors against loss. Some of the basic principles 

of Federal deposit insurance were developed in these State systems. 

(Pp. 59-72).

xvii

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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS OF THE CORPORATION

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

Insured deposits and the deposit insurance fund. Under the 

provisions of the Federal Deposit Insurance Act of 1950, protection was 

increased to a maximum of $10,000 for each depositor in an insured bank. 

If a depositor holds more than one account in the same right and capacity in an insured bank, the maximum applies to the total of all such 

accounts. For example, an individual who holds both a demand deposit 

and a savings deposit at an insured bank has no greater insurance protection than if the total amount of the two were held in a single account. 

On the other hand, if an individual holds an account in his own name 

and also holds a joint account with his wife at the same insured bank, 

these accounts are not held in the same right and capacity and each is 

therefore protected up to the legal maximum. When a depositor is also 

a debtor of the bank, the amount remaining in his deposit account after 

deduction of his indebtedness is insured up to $10,000.

Because of these legal provisions concerning accounts held in a given 

right and capacity, the combining of accounts, and offsetting of indebtedness, the calculation of the amount of insured deposits in a bank 

at any given time is not a simple task. Therefore, the Corporation does 

not require such calculations to be made and reported by insured banks. 

From time to time a special call for deposit information is made by the 

Corporation. On these occasions the banks report the number of their 

deposit accounts in various size groupings. The last such call was made 

in 1951, and is described in Part Three of the Annual Report of the 

Corporation for that year. From information obtained by these special 

calls, and from semi-annual reports showing total deposits in insured 

banks, estimates are made of the amount of insured deposits. Table 1 

shows for the end of each year since the beginning of Federal deposit 

insurance the total amount of deposits in insured banks and the estimated 

amount of these deposits which was insured under the prevailing provisions of law.

At the end of 1952 insured deposits were estimated at $102,255 million, 

constituting 54.3 percent of the total deposits in insured banks. This 

percentage has changed slightly since maximum protection per depositor 

was increased from $5,000 to $10,000 by the Act of 1950.

The deposit insurance fund of the Corporation increased further in

1952, and amounted to $1,363 million at the end of the year. At that 

date it constituted 0.72 percent of total deposits in insured banks and 

1.33 percent of insured deposits. In 1934 these ratios were 0.73 and

3

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

1.61 percent, respectively. The size of the deposit insurance fund and 

its relationship to total and insured deposits as of December 31 of each 

year from 1934 through 1952 are shown in Table 1. Chart A illustrates 

the ratios of the fund to total and insured deposits.

T ab le 1 . I n s u r e d D e p o sit s a n d t h e D e p o s it I n s u r a n c e F u n d ,

D e c e m b e r 31, 1934-1952

Dec. 31

Deposits in

insured banks

(in millions) Percent

of

deposits

insured

Deposit

insurance

fund

(in

millions)

Ratio of deposit

insurance fund to—

Total Insured1 Total

deposits

Insured

deposits

1952........................................ $188,142 $102,255 54.3% $1,363.5 .72% 1.33%

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

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

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

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

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

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

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

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

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

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

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

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

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

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

1937........................................ 48,2281 22,557 46.8 383.1 .79 1.70

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

1935........................................ 45,1251 20,158 44.7 306.0 .68 1.52

1934......................................... 40,060. 18,075 45.1 291.7 .73 1.61

1 Estimates for dates prior to the change in coverage in 1950 are based on $5,000 maximum for each

account; those for subsequent dates on $10,000 maximum. Estimated by applying to the deposits in

the various types of account (demand deposits of individuals, partnerships, and corporations; savings

and time deposits of individuals, partnerships, and corporations; government deposits; interbank deposits; and other deposits) at the regular call dates the percentages insured as shown by the reports for

the nearest special call date.

Participation in deposit insurance. On December 31, 1952, there 

were 13,645 insured banks. Including 5,663 branches, these banks did 

business in 19,308 locations, 329 more than at the beginning of the year.

The number of insured banks at the close of the year was 12 fewer 

than a year before. This small decline resulted from the fact that the 

number of insured banks which went out of existence by absorption or 

voluntary liquidation was larger than the number of banks admitted to 

insurance. A decrease also occurred in the number of noninsured banks. 

The proportion of banks of deposit which are insured was 93.6 percent 

at the end of 1951 and 93.8 percent at the end of 1952.

Of the 13,645 banks insured at the close of 1952, 206 were mutual 

savings banks, and 13,439 were commercial banks. However, the latter 

classification includes a few stock savings banks, industrial banks, and 

other banks specializing in certain types of deposits or assets.

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DEPOSIT INSURANCE COVERAGE 5

C h art A. R atios of D eposit Insurance F und to T otal and I nsured D eposits,

A ll Insured Ba n k s, D ecem ber 31, 1934-1952

PERCENT

2 .0--------

■mil

PERCENT

--------2-0

RATIO OF DEPOSIT INSURANCE FUND TO INSURED DEPOSITS |

RATIO OF DEPOSIT INSURANCE FUND TO TOTAL DEPOSITS (

1934 1935 1936 1937 1938 1939 1940 1941- 1942 1943 1944 1945 1946 1947 1948 1949 1950 1951 1952

Insured commercial banks constituted 96 percent of all operating 

commercial banks, and held 99 percent of deposits in commercial banks. 

Although only 39 percent of the mutual savings banks were insured, they 

held 74 percent of deposits in such institutions. Table 2 gives the number 

and deposits of all banks grouped by type of bank and insurance status.

T ab le 2. N umber and D eposits of Operating B anks in the U nited States

(C ontinental U. S. and Other A reas), D ecember 31, 1952

Item

Number or deposits Percentage of total

Total Insured

banks

Noninsured

banks

Insured

banks

Noninsured

banks

Number of banks— total..................

Banks of deposit.................................

Commercial......................................

Mutual savings................................

Trust companies not regularly engaged in deposit banking.............

Deposits (in millions)— total.........

Banks of deposit................................

Commercial......................................

Mutual savings................................

Trust companies not regularly engaged in deposit banking1............

14,617

14,552

14.,028

529

65

$196,431

196,357

178,786

22,621

74

13.645

13.645

18,^39

206

$188,142

188,142

171,857

16,785

972

907

58b828

65

$8,289

8,215

2,879

5,886

74

93.4%

93.8

95.8

88.9

95.8

95.8

98.6

7Jf..2

6.6%

6.2

U.2

61.1

100.0

4.2

4.2

1.U

25.8

100.0

i Deposits of these companies consist of uninvested trust funds and special accounts.

Detailed data: See Table 105, pp. 98-99.

Participation by State. In Table 3 the 48 States and District of 

Columbia are ranked as of December 31,1952, according to the percentage

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

of total banks of deposit in the State which were insured, and according 

to the percentage of total deposits in the State which were in insured 

banks. These compilations exclude trust companies not regularly engaged 

in deposit banking. Ten States and the District of Columbia shared top 

ranking in each regard, with 100 percent insurance of banks of deposit. 

The proportion of deposits which were in noninsured banks was greater 

than 2 percent in only eleven States. It was greater than 10 percent in 

seven States, due primarily to noninsured mutual savings banks in 

New England.

Table 3. Sta t e s R a n k e d A cco r d in g to P e r c e n t a g e o f B a n k s o f D e p o s it

w h ic h w e r e I n s u r e d a n d P e r c e n t a g e o f D ep o sit s w h ic h w e r e in

I n s u r e d B a n k s , D e c e m b e r 31, 1952

Number of insured banks as percentage of

total banks of deposit

Deposits in insured banks as

percentage of total deposits

State Percent State Percent

93.9 United States average....................... 96.0

100.0 Alabama............................................... 100.0

Arizona..................................................... 100.0 Arizona................................................. 100.0

District of Columbia............................. 100.0 District of Columbia......................... 100.0

Montana................................................... 100.0 Montana....................... ....................... 100.0

Nevada..................................................... 100.0 Nevada............... ................................. 100.0

New Mexico........ ................................... 100.0 New Mexico........................................ 100.0

South Dakota.......................................... 100.0 South Dakota...................................... 100.0

Utah........................................................... 100.0 Utah...................................................... 100.0

Vermont.................................................. 100.0 Vermont............................................... 100.0

Virginia..................................................... 100.0 Virginia................................................. 100.0

Wyoming.................................................. 100.0 Wyoming.............................................. 100.0

New Jersey............................................... 99.7 Louisiana1............................................. 100.0

North Carolina........................................ 99.6 99.9

Louisiana.................................................. 99.4 New Jersey.......................................... 99.9

New York................................................. 99.2 Oklahoma............................................. 99.8

Illinois....................................................... 99.1 Illinois................................................... 99.8

Florida....................................................... 99.1 Wisconsin............................................. 99.8

California................................................. 99.0 Tennessee............................................. 99.7

Ohio........................................................... 98.9 Missouri................................................ 99.7

Wisconsin................................................. 98.9 Florida.................................................. 99.7

Tennessee................................................. 98.6 Arkansas............................................... 99.7

Oregon....................................................... 98.5 California............................................. 99.7

Pennsylvania........................................... 98.5 Minnesota............................................ 99.7

Mississippi............................................... 98.5 Colorado............................................... 99.6

Oklahoma................................................. 98.2 Oregon................................................... 99.5

Indiana..................................................... 98.1 Pennsylvania....................................... 99.5

Minnesota................................................ 98.1 Georgia................................................. 99.2

Arkansas................................................... 97.8 Washington.......................................... 99.1

West Virginia.......................................... 97.8 Indiana................................................. 99.1

Maryland................................................. 97.6 Mississippi........................................... 99.0

Washington.............................................. 97.5 Kentucky............................................. 99.0

Idaho......................................................... 97.5 New York............................................. 99.0

Michigan.................................................. 97.4 South Carolina.................................... 98.9

Missouri.................................................... 97.0 98.9

Kentucky................................................. 95.8 North Carolina................................... 98.8

Texas......................................................... 95.4 West Virginia...................................... 98.7

North Dakota......................................... 95.4 Idaho..................................................... 98.2

Delaware.................................................. 94.6 Michigan............................................... 98.0

Colorado................................................... 92.5 Nebraska.............................................. 97.3

Iowa.......................................................... 91.7 Iowa....................................................... 96.4

South Carolina...................................... 89.9 Maryland............................................. 95.3

Nebraska.................................................. 89.8 91.5

Georgia. ................................................... 84.6 Delaware............................................... 86.8

Kansas...................................................... 77.8 Rhode Island....................................... 83.3

Rhode Island........................................... 75.0 North Dakota..................................... 81.0

Maine........................................................ 65.6 Maine.................................................... 66.6

Connecticut............................................. 54.1 Connecticut......................................... 67.0

New Hampshire...................................... 53.2 Massachusetts..................................... 54.8

Massachusetts......................................... 47.0 New Hampshire.................................. 40.3

1 99,953 percent before rounding.

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DEPOSIT INSURANCE COVERAGE 7

For detailed statistics as to number and offices of operating banks 

see Tables 101-104 of this report, pages 84-97. Deposits of insured and 

noninsured banks by States are shown in Table 105, pp. 98-99.

A ction to Protect D epositors in F a il in g Ba n k s

Disbursements for protection of depositors in 1952. During 1952 

the Federal Deposit Insurance Corporation provided financial aid to 

protect depositors of three insured banks which were in financial difficulty. 

In each of the cases the deposit liabilities of the failing bank were assumed 

by another insured bank. The Corporation took over those assets of the 

failing banks which were unacceptable to the assuming banks and 

advanced to each of the failing banks cash equal to the difference between 

its deposit liabilities and its acceptable assets.

The three distressed banks to which the Corporation made disbursements in 1952 had deposits totaling $3.2 million, and the cash provided 

by the Corporation amounted to SI.3 million as of December 31, 1952. 

There were approximately 6,750 deposit accounts in the three banks. No 

depositor suffered any loss, nor was there any break in the continuity 

of banking service for the communities.

Defalcations greatly in excess of their surety bonds were the direct 

cause of the difficulties of all three banks. In two of the banks most of 

the shortage was represented by customer overdrafts concealed by 

officers of the banks through manipulation of the records.

Disbursements for protection of depositors, 1934-1952. From 

the beginning of deposit insurance to the end of 1952 the Corporation 

made disbursements to protect depositors in 420 banks. These banks 

had about 1.4 million deposit accounts and deposits of almost $541 

million. For the protection of the depositors in these banks the Corporation disbursed $276 million, exclusive of payoff and liquidation 

expenses and advances for the protection of assets.

Of the 420 cases in which the Corporation made disbursements, 245 

banks were placed in receivership and 175 were absorbed by other 

insured banks. No insured bank has been placed in receivership since 

May 1944, and all receiverships were terminated prior to 1952. Of the 

175 absorption cases, 168 have been terminated. Three cases were terminated and three new cases added during 1952.

Recoveries and losses of depositors. The depositors of the 420 

banks received $539 million, or 99.6 percent of their total deposits. In 

the 245 receivership cases deposits totaled $110 million, of which $108 

million, or more than 98 percent, was paid. All of the $431 million of 

deposits involved in the 175 absorption cases was made available to 

depositors.

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8 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 4 shows for each year the number of depositors and their losses, 

and the disbursements of the Corporation and its losses. Further details 

regarding the payment of deposits in closed insured banks are given in 

Table 5.

T ab le 4. L o sses to D e p o sit o r s a n d to t h e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a tio n in I n s u r e d B a n k s in F in a n c ia l D if f ic u l t ie s,

b y Y e a r s , 1934-1952

Year

1934-1952..

1952.........

1951.........

1950.........

1949.........

1948.........

1947.........

1946.........

1945.........

1944.........

1943.........

1942.........

1941.........

1940.........

1939.........

1938.........

1937.........

1936.........

1935.........

1934.........

Number

of

banks

420

3

2

4

4

3

5

1 1

2

5

20

15

43

60

74

75

69

25

9

Number

of

depositors1

1,366,515

6,743

5,276

6,365

5,671

18,540

10,637

1,383

12,483

5,487

27,371

60,687

73,005

256,361

392,718

203,961

130,387

89,018

44,655

15,767

Amounts

of

deposits

(in thousands)

$540,653

3,157

3,408

5,501

5,475

10,657

7,040

347

5,695

1,915

12,525

19,185

29,717

142,430

157,772

59,684

33,349

27,508

13,320

1,968

to

depositors8

(in thousands)

$1,952

3

24

8

40

37

1,002

49

147

183

437

22

to the

Corporation3

(in thousands)

$27,632

7605

1275

1,4205

378

644

114®

40

124

686

613

4,177

7,216

2,432

3,553

2,411

2,730

207

Disbursements

by the

Corporation4

(in thousands)

$276,044

1,339

1,885

3,986

2,551

2,990

1,724

265

1,768

1,503

7,172

10,825

23,880

74,134

67,771

30,479

19,160

14,781

8,890

941

1 Number of depositors in receivership cases; number of deposit accounts in absorption cases.

2 Includes losses due to failure of depositors to claim insured deposits.

3 Sum of losses in the cases in which the disbursement by the Corporation was not repaid in full,

including estimated loss in 7 cases not fully liquidated at the end of 1952. Excludes interest collected

in cases in which the disbursement by the Corporation was fully recovered, gains or losses on assets

purchased by the Corporation from liquidations, and nonrecoverable expenses incurred in paying depositors’ claims.

4 Principal disbursements only. Does not include expenses and advances for protection of assets.

Also excludes excess collections paid to absorbed banks as an additional purchase price; for this reason

the figures differ from those published in previous Annual Reports of the Corporation.

£i Estimated.

Detailed data: See Tables 119-122, pp. 140-144.

Recoveries and losses of the Corporation, 1934-1952. The total 

disbursements of the Corporation in connection with failing insured 

banks have been somewhat larger than the principal disbursements 

mentioned above and shown in Table 4. The principal disbursements 

are those incurred for the direct purpose of meeting the claims of depositors in the failing banks: payment of insured deposits in receivership 

cases, and loans to or purchases of assets of banks in absorption cases. 

Other disbursements which are involved in the transactions for protection 

of depositors are nonrecoverable payoff expenses in the receivership 

cases, and liquidation expenses and advances for protection of assets

in the absorption cases. In addition to the direct transactions for protection of depositors, the Corporation has in some cases purchased the 

residual assets of receiverships or of absorbed banks.

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ACTION TO PROTECT DEPOSITORS IN FAILING BANKS 9

Table 5. N u m b e r of D e p o s it o r s, A m o u n t of D e p o s it s, R e c o v e r ie s , a n d

L o sse s in I n s u r e d B a n k s P la c e d in R e c e iv e r s h ip o r A b so r b e d w it h

th e F in a n c ia l A id o f t h e C o r p o r a t io n , 1934-1952

Item Total Banks placed

in

receivership

Banks absorbed

with financial

aid of the

Corporation

Number of banks................................................................. 420

1,366,515

1,361,000

2,111

3,404

$540,653

538,701

1,952

245

382,722

377,207

2,111

3,404

$109,590

107,6382

1,9523

175

983.793

983.793

Number of depositors or accounts............................

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

Not fully protected (deposits exceeded insurance

maximum) ..................................................................

Not fully protected (deposits restricted or deferred

prior to 1934 or otherwise ineligible for insurance

protection)......................................... ...........................

Amount of deposits (in thousands).........................

Deposits paid....................................................................

$431,063

431,063

Deposits unpaid...............................................................

1 Includes 55,262 depositors who failed to claim their insured deposits.

2 Includes payments by Federal Deposit Insurance Corporation and by the receivers. For detail

see Table 5, p. 12, of the Annual Report of the Corporation for 1951.

3 Includes $175,386 of insured deposits which depositors failed to claim.

Detailed data: See Tables 119-122, pp. 140-144.

The recoveries of the Corporation in transactions for protection of 

depositors have consisted largely of recoveries on principal disbursements, 

but have included also recoveries of liquidation expenses and advances 

in the absorption cases. The Corporation has also received interest or 

an allowable return on its disbursements in some of the cases. Receipts 

in transactions to facilitate termination of liquidations may also be 

divided among those made on principal and those of other kinds. If, for 

any category of transactions, principal recoveries are subtracted from 

principal disbursements, the loss on principal is obtained. However, it 

is the difference between total disbursements and total recoveries and 

income for a given category of transactions which represents the net 

loss of funds from such transactions. The net loss of funds may be either 

greater or less than the loss on principal. The net loss of funds in transactions for the protection of depositors has exceeded the loss on principal 

disbursements in receivership cases and has been less than the loss on 

principal in the absorption cases. In the transactions to facilitate termination of liquidations, recoveries and income, including the estimated 

recoverable value of assets not yet disposed of, exceed disbursements. 

Consequently there is expected to be a net gain, rather than a net loss 

of funds, on these transactions.

Deposit insurance disbursements through the close of 1952 and 

recoveries and income of the Corporation are presented in Table 6, 

classified according to the kind of transaction and nature of disbursement 

with which they were associated. As shown there, the Corporation has 

recovered over $247 million of its $276 million of principal disbursements.

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10 FEDERAL DEPOSIT INSURANCE CORPORATION

for the protection of depositors in failing insured banks. Based upon 

the current appraised value of the remaining unliquidated assets acquired 

from those banks, an additional recovery of $1 million can be expected, 

leaving an estimated loss on principal of a little less than $28 million, 

or 10 percent. However, other disbursements which were not recovered 

were less than $1 million, and the Corporation collected nearly $9 million 

in interest or allowable return on its disbursements. The net loss of funds 

in transactions for the protection of depositors was thus $20 million, or 

7 percent of principal disbursements of $276 million for this purpose.

T a b le 6 . A n a l y s is o f D is b u r s e m e n t s a n d R e c o v e r ie s o f th e F e d e r a l D e p o s it

I n s u r a n c e C o r p o r a tio n in T r a n s a c t io n s fo r P r o t e c t io n o f D e p o sit o r s

a n d to F a c il it a t e T e r m in a t io n of L iq u id a t io n s , 1934-1952

(In thousands)

Item

Transactions for the protection of depositors

Transactions

to facilitate

termination of

liquidations

Total

(420 banks)

Receivership

cases

(245 banks)

Absorption

cases

(175 banks)

Disbursements....................................... $322,148

276,044

783

13.266

32.055

$302,448

247,392

1,020

13.266

32.055

8.715

$ 19,700

27,632

783

8.715

$87,827

87,044

783

$234,321

189,000

$2,993

2,716Principal.................................................

Payoff expenses (nonrecoverable).. .

Liquidation expenses........................... 13.266

32.055

$229,235

174,526

1,020

13.266

32.055

8,3683

$ 5,086

13,454

Advances for asset protection........... 277

$3,789

1,691

1,005

Recoveries and income.......................

Principal recovery to Dec. 31, 1952.

Estimated additional recovery of

principal1............................................

$73,213

72,866

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

Advances................................................ 277

8164

$ -796®

20

Interest and allowable return (profit

and income in termination transactions) ...............................................

Net loss of funds...................................

On principal...........................................

Payoff expenses (nonrecoverable). . .

Less: interest and income..................

3472

$14,614

14,178

783

3472 8,3683 816*

1 Book value of remaining unliquidated assets less reserve for losses. The total amount for both

types of transactions, $2,025,139, is designated in Table 10 as “ Assets acquired through bank suspensions and absorptions” .

2 Interest on subrogated claims in 58 of the receivership cases in which receivers paid 100 percent

dividends on creditors’ claims.

3 Interest on loans and allowable return on purchase price in 91 absorption cases in which collections

exceeded the Corporation's disbursements and recoverable expenses. In 65 of these cases full interest

or allowable return was collected and excess collections of $1,519,000 returned to the banks.

4 Profit plus net income (income on assets less liquidation expenses).

6 Excess of receipts.

In the 245 banks which were placed in receivership the Federal Deposit 

Insurance Corporation paid out $87 million to depositors. These depositors 

assigned their claims against the receiverships to the Corporation to the 

extent of its payment. Dividends received by the Corporation on these 

subrogated claims amounted to $73 million, resulting in a loss on principal 

of $14 million, or 16 percent of the amount disbursed. Nonrecoverable 

payoff expenses of nearly $1 million were only partially offset by interest 

received, so that the net loss of funds exceeded the loss on principal 

by $0.4 million.

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ACTION TO PROTECT DEPOSITORS IN FAILING BANKS 11

In the 175 absorption cases to the close of 1952 the Corporation 

disbursed $189 million for the protection of depositors by means of 

loans to or the purchase of assets from distressed banks. Recoveries of 

$175 million on this principal disbursement had been realized by the 

end of 1952, and additional recoveries of $1 million were expected in the 

seven active liquidations. There was therefore an estimated loss on 

principal disbursements in absorption cases of $13 million, or 7 percent 

of the amount disbursed. In these cases the Corporation recovered in 

full its $32 million of advances for the protection of assets and its $13 

million of liquidation expenses, and also received interest or allowable 

return of $8 million. The net loss of funds in absorption cases was therefore smaller by $8 million than the loss on principal.

In 93 of the absorption cases principal disbursements of the Corporation 

were recovered in full and in 91 of these some interest or allowable return 

was collected. In 65 of these cases collections from assets liquidated 

exceeded the Corporation’s principal disbursement plus interest or 

allowable return and the excess was returned to representatives of the 

shareholders of the absorbed banks. These excess collections, which 

amounted to $1.5 million, are not included in the Corporation’s disbursements nor in its recoveries and income shown in Table 6.

The net loss of funds relative to the amount of the principal disbursements for protecting depositors has differed markedly between receivership and absorption cases. In the 245 receivership cases the net 

loss of funds was $15 million, representing 17 percent of principal 

disbursements for the protection of depositors of $87 million. In the 

175 absorption cases the net loss of funds, as estimated at the end of 

the year, was $5 million, or only 3 percent of the $189 million of principal 

disbursements for the protection of depositors. Total deposits in the 

receivership cases were $110 million, and in the absorption cases $431 

million. Net losses of funds therefore averaged 13 percent of total deposits 

in the banks involved in receivership cases and 1 percent in absorption 

cases. The much higher loss ratio in receivership cases is primarily a 

reflection of the fact that banks with very poor asset conditions have 

been placed in receivership, whereas failing banks with less serious asset 

deterioration have been merged with other banks.

Table 7 gives the losses of the Corporation on principal disbursements 

for protection of depositors as estimated at the close of each of the past 

nine years.

Losses and recoveries by the Reconstruction Finance Corporation. Losses by the Federal Deposit Insurance Corporation in 

some cases were less than those which would normally occur with banks 

having a similar degree of asset deterioration, due to prior investment 

of public funds in these banks through the Reconstruction Finance

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12 FEDERAL DEPOSIT INSURANCE CORPORATION

Corporation. The Reconstruction Finance Corporation held preferred 

stock, debentures, or capital notes in 263 of the 420 banks in which the 

Federal Deposit Corporation made disbursements to protect depositors. 

The retirable value of these holdings totaled $44.5 million, excluding 

accrued dividends or interest.

Table 7. E st im a t e d C u m u l a t iv e L osses to t h e C o r p o r a t io n o n P r in c ip a l

D is b u r s e m e n t s fo r P r o t e c t io n o f D e p o s it o r s, C o m p a r e d w it h

D is b u r s e m e n t s, b y Y e a r o f E s t im a t e , 1944-1952

Period

Number

of

banks

Disbursements

to end of

period1

(in thousands)

Losses as

estimated at

end of period2

(in thousands)

Estimated

losses as

percent of

disbursements

1934-1952....................................... 420 $276,044 $27,632 10.0%

1934-1951....................................... 417 274,705 27,024 9.8

1934-1950....................................... 415 272,820 26,930 9.9

1934-1949....................................... 411 268,834 25,490 9.5

1934-1948....................................... 407 266,283 24,930 9.4

1934-1947....................................... 404 263,293 26,014 9.9

1934-1946....................................... 399 261,569 28,896 11.0

1934-1945....................................... 398 261,304 31,111 11.9

1934-1944....................................... 397 259,536 38,810 15.0

1 Principal disbursements. Figures revised from similar tables previously published to eliminate

excess collections paid to banks as additional purchase price in 65 absorption cases. See note 4 to Table 4.

2 Losses on principal disbursements. See note 3 to Table 4.

In connection with the mergers of 15 of the banks in which it held 

preferred stock, the Reconstruction Finance Corporation furnished the 

new capital in the continuing banks. To its previous investment in these 

15 banks, amounting to almost $28 million, was added the new capital, 

giving the Reconstruction Finance Corporation preferred stock in the 

continuing banks with a total retirable value at the dates of merger of 

over $52 million. This amount is gradually being reduced as the banks 

retire the stock.

In banks aided by the Federal Deposit Insurance Corporation other 

than the 15 discussed above, the Reconstruction Finance Corporation’s 

investment was $16 million, of which it recovered $2 million.

Su pervisory A ctivities

Bank examinations. Since the establishment of the Corporation, 

it has been the policy to examine at least once annually each insured 

State bank which is not a member of the Federal Reserve System. In 

addition to the regular examination program, the Corporation also 

conducts special examinations of those insured State nonmember banks 

in which problems are believed to exist.

The Corporation during 1952 conducted 6,836 regular examinations, 

thus completing its regular examination program. In addition, it made 

82 reexaminations, and 50 entrance examinations of operating noninsured

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SUPERVISORY ACTIVITIES 13

banks. New bank investigations totaling 102 and new branch investigations totaling 108 were also made during the year. In addition to the 

above figures, examinations of 1,359 branches of insured nonmember 

State banks and 978 trust departments were conducted.

The Corporation’s information with regard to national banks is 

obtained mainly by its review of reports of examination made by the 

Office of the Comptroller of the Currency. Similarly, information relating to State banks which are members of the Federal Reserve System 

is obtained by a review of reports of examination made by the twelve 

Federal Reserve banks. In 1952 the Corporation reviewed and analyzed, 

with special attention to their bearing upon deposit insurance, 4,613 

reports of examination made by the Office of the Comptroller of the 

Currency and 1,588 reports of examination made by the Federal Reserve 

banks.

Citations for unsafe and unsound banking practices. The

primary purposes of bank examinations are to ascertain if banks are 

conducting their business in a safe and sound manner, to appraise their 

assets, and to determine whether violations of law or regulations have 

occurred. Such examinations, when necessary, are followed by conferences 

with directors and officers of banks and usually result in correction of 

any objectionable practices.

Section 8(a) of the Federal Deposit Insurance Act provides that 

whenever the Board of Directors finds that a bank has continued to 

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

the Board is required to give to the appropriate supervisory authority 

a statement with respect to such practices for the purpose of obtaining 

the necessary corrections. In securing such corrections the Corporation 

cooperates with the supervisory authority.

A bank which has been formally charged with unsafe or unsound 

practices and which nevertheless persists in these practices may be 

deprived by the Corporation of its insured status. Such charges are 

initiated by the Corporation only after careful deliberation and after 

every effort to obtain the observance of sound and lawful procedures 

through the cooperation of the bank involved. On the other hand, the 

Corporation is determined to fulfill its obligation of taking action against 

any insured bank which persistently violates law, regulations, or the 

tenets of sound banking, and thereby endangers the deposit insurance 

fund and undermines the confidence of depositors in the integrity of our 

banking system.

During 1952 proceedings were initiated under Section 8(a) of the 

Federal Deposit Insurance Act against two banks. The alleged unsound 

practices and violations of law in the two cases differed in detail but were

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14 FEDERAL DEPOSIT INSURANCE CORPORATION

fundamentally the same. Each of the two banks was cited for weak and 

hazardous management, for negligent supervision by the bank’s board 

of directors, and for lax lending and collection policies, attested by such 

evidence as inadequate credit information, large volumes of overdue 

or inadequately secured loans, and undue amounts of assets adversely 

classified by examiners. The capital accounts of both of these banks 

were regarded as inadequate. In one case the common stock was being 

impaired by asset losses, and in the other case the capital funds were 

not only reduced by asset losses but were also being dissipated by unwarranted dividends. Each bank was also charged with violating banking 

laws and regulations and with failure to comply with corrective recommendations made by its supervisory authority.

Further action in the cases of the two banks against which proceedings 

were initiated in 1952 was being deferred at the end of the year pending 

reexamination of these banks. Of two other banks whose cases were 

pending at the beginning of 1952, one case was closed during the year 

when satisfactory corrections were made. The other remained in deferred 

status on December 31, 1952, pending analysis of its reexamination.

There were thus three cases pending at the end of the year. In two of 

these cases some improvement was known to have been made since the 

proceedings were instituted. In the third case the time allowed for 

making corrections extended into December, 1952, and in view of changes 

made in the management of the bank additional time was being allowed 

before reexamination.

Since 1935, when the Corporation was given authority to terminate 

the insurance of banks which continue to engage in unsafe or unsound 

practices or violations of law or regulations, a total of 147 banks have 

been charged with such practices or violations. The disposition of these 

cases is given in Table 8.

Approval of banks for insurance. During 1952 the Corporation 

approved the applications of 69 banks for admission to insurance. This 

included approvals of 25 such applications from operating banks not 

insured at the beginning of the year, although one of these approvals 

was subsequently rescinded. It also included approval of 43 applications 

for insurance by new banks, and 1 application by a financial institution 

becoming a bank of deposit. Four applications from new banks were 

disapproved by the Board of Directors because, in its judgment, the 

conditions prescribed by the Federal Deposit Insurance Act were not 

fulfilled.

The number of banks approved for insurance in a year differs from 

the number actually admitted to insurance during that year. Some new 

banks approved for insurance are not opened, or the effective date of

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SUPERVISORY ACTIVITIES 15

insurance is delayed for other reasons, until the subsequent year. In a 

few cases banks alter their plans or do not meet conditions specified by 

the Corporation. Banks which are chartered as national banks, and State 

banks which are admitted to the Federal Reserve System, become insured 

without application to the Corporation. For changes in the number of 

insured banks during 1952 see Table 101, page 84.

T a b le 8 . A ctio n s to T e r m in a t e I n s u r e d St a t u s o f B a n k s C h a r g e d

w it h E n g a g in g in U n s a f e or U n s o u n d P r a c tic 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, 1936-1952

Disposition or status 1936-19521

Total banks against which action was taken........................................................................

Cases closed:

Corrections made...............................................................................................................................

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

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

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

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

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................................

Banks continued in operation2.....................................................................................................

Cases not closed December 31, 1952: Action deferred pending reexamination or analysis

of reexamination...........................................................................................................................

147

36

66

61

5

32

10

7

S

1 No action to terminate the insured status of any bank was taken before 1936. In 5 cases where

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

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

Back data: See the Annual Report of the Corporation for 1951, p. 17, and earlier reports.

Approval of establishment of branches. During 1952 the Corporation approved the establishment of 111 branches by insured banks 

not members of the Federal Reserve System. Of these approvals, 99 were 

for the establishment of new banking offices, 10 were for banks to be 

absorbed and converted into branches, and 2 were for branches to be 

established at former locations of head offices after the relocation of 

such offices. The Corporation also approved continuation of operations 

of seven branches previously operated by absorbed banks or by banks 

admitted to insurance, or sold by one bank to another. Four applications 

for establishment of branches were disapproved by the Board of Directors 

during 1952; subsequently two of the banks met conditions warranting 

approval, and are included in the totals above.

The number of branches established by insured banks during a year 

differs from the number approved by the Corporation. Approval by 

the Corporation is not required for the establishment of branches by 

national banks or by State banks which are members of the Federal 

Reserve System. Some branches approved are opened in a subsequent 

year, and in a few cases the banks change their plans or fail to meet 

conditions specified. For changes in the number of branches of insured 

banks during 1952 see Table 101, page 85.

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16 FEDERAL DEPOSIT INSURANCE CORPORATION

Approval of other applications from insured banks. The Corporation also approved during 1952 the applications for continuation 

of deposit insurance made by eleven State banks withdrawing from the 

Federal Reserve System and two State banks succeeding national banks. 

Approvals were also granted upon eight applications of insured banks 

for permission to exercise trust powers, three to engage in commercial 

banking, eight to assume deposit liabilities of another insured bank (one 

of which was rescinded later in the year when the bank abandoned its 

plan), and three to assume deposit liabilities of a noninsured bank. Two 

applications to exercise trust powers were disapproved by the Board 

of Directors during the year.

Seventy-one applications by insured banks to change their locations, 

and 21 for relocation of branches, were approved during the year.

Reports from banks. Insured State banks not members of the 

Federal Reserve System, other than those in the District of Columbia, 

were required by the Corporation to report their assets, liabilities, and 

capital accounts as of June 30 and December 31, 1952. Summaries of 

corresponding data for other insured banks were furnished to the Corporation by the agencies to which those banks made reports. Through 

the cooperation of State banking authorities and of officials of banking 

institutions not under State or Federal supervision, mostly unincorporated 

banks, the Corporation obtained, as of June 30 and December 31, reports 

of assets and liabilities of noninsured banks and trust companies which 

do not file reports with a Federal agency. The insured banks also submitted to the respective Federal agencies statements of their earnings, 

expenses, and disposition of profits for the calendar year 1952.

The data on assets, liabilities, and capital, and those on earnings and 

expenses, are discussed in Part Two of this report. Detailed tabulations 

from the reports of assets, liabilities, and capital accounts, for insured 

and noninsured banks in the United States (continental U. S. and other 

areas) and for insured banks in each State, are given in the Corporation’s 

publication, “ Assets, Liabilities, and Capital Accounts, Capital and 

other Ratios, Commercial and Mutual Savings Banks” , Reports No. 37 

and 38. Summary tabulations are given in Tables 105-109 of this report, 

pages 98-111. Summaries of the reports of earnings, expenses, and disposition of profits are given in Tables 112-118, pages 118-137 of this 

report.

L egal D evelopm ents

Federal legislation. A number of Federal laws were enacted during 

the year which concern Federal deposit insurance or relate closely to 

the work of the Corporation or the operations of insured banks. The 

nature of these laws is indicated below, and full texts are given in Part 

Four of this report, pages 75-78.

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LEGAL DEVELOPMENTS 17

The Federal Deposit Insurance Act was amended by Public Law 533, 

82nd Congress, approved July 14, 1952, to require the insurance of 

deposits payable at Puerto Rico branches of insured mainland banks. 

Prior to this change an insured bank having its principal place of business 

in any of the States or in the District of Columbia which maintained a 

branch in Puerto Rico could elect to exclude from insurance its deposit 

obligations payable only at such branch.1

The National Bank Conversion Act was modified by Public Law 515, 

82nd Congress, approved July 12, 1952, so as to eliminate features which 

made it difficult in some States for conversion from national into State 

banks.

Congress enacted a National Bank Merger Act, Public Law 530, 82nd 

Congress, approved July 14, 1952, which permits the merger of national 

banks, or of State banks with national banks under the charter of the 

latter, without a right of dissenting shareholders of the absorbing bank 

to demand cash payment for their shares. Dissenting shareholders of 

the absorbed bank would be entitled to demand cash payment for their 

shares.

Changes were made in the capital requirements for membership of a 

State bank in the Federal Reserve System and for establishment of 

branches by State member banks and national banks by Public Law 543, 

82nd Congress, approved July 15, 1952. This law also requires the 

consent of the Board of Governors of the Federal Reserve System to 

the reduction of capital stock of a State member bank and to the establishment of in-town branches of State member banks.

Rules and regulations. Section 329.3(c) of the rules and regulations 

of the Corporation was amended, effective July 1, 1952, to increase]the 

grace "periods in computing interest on savings deposits. The text of.the 

amendment is given on page 79.

State legislation. A summary of State banking legislation enacted 

during 1952 is given in Part Four of this report, pages 79-80.

Personnel

Directors and employees. Throughout 1952 the Board of Directors 

of the Corporation consisted of Mr. Maple T. Harl, Chairman; Mr. H. 

E. Cook, Director; and Mr. Preston Delano, Comptroller of the Currency, 

Director ex officio of the Federal Deposit Insurance Corporation. Early 

in 1953 Mr. Delano offered his resignation as Comptroller of the Currency, effective February 15. In accordance with the provisions of the 

Federal Deposit Insurance Act the Acting Comptroller of the Currency,

1 Such exclusion continues to be permitted, under the Federal Deposit Insurance Act, in the case

of branches in the Virgin Islands or in a Territory of the United States. Obligations payable only at

an office in a foreign country, or in a possession of the United States not regarded as a Territory, are

excluded from insurance.

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18 FEDERAL DEPOSIT INSURANCE CORPORATION

Mr. L. A. Jennings, served as a Director of the Corporation until Mr. Ray 

M. Gidney, formerly President of the Federal Reserve Bank of Cleveland, 

became Comptroller of the Currency on April 16, 1953. On May 10,

1953, Mr. H. E. Cook, a member of the Board of Directors since April 

1947, became Chairman of the Board of Directors, succeeding Mr. Maple 

T. Harl, who continues as a member of the Board.

At the end of 1952 the Corporation had 1,028 officials and employees, 

less than half of the peak number in 1941. Table 9 gives the number of 

employees in the various divisions of the Corporation at the end of 1952. 

The Division of Examination had at that time 72 percent of the total 

employees.

T ab le 9. N umber of Officers and E mployees of the F ederal D eposit

I nsurance C orporation, D ecember 31, 1952

Division Total Washington

office

District

and

field

offices

Total................................................................................................... 1,028

3

317 711

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

Executive Division...................................................................... 23 23

Legal Division.............................................................................. 17 17

Division of Examination............................................................ 736 42 694

Division of Liquidation.............................................................. 32 15 17

Division of Research and Statistics......................................... 47 47

Division of Finance and Accounts........................................... 42 42

Audit Division.............................................................................. 45 45

Personnel Division....................................................................... 18 18

Service Division............................................................................ 65 65

Educational program for examiners. The Division of Examination 

is continuing the educational program for its members which it began 

in 1946. This program consists primarily of correspondence courses given 

by the American Institute of Banking, but also includes evening courses 

offered by colleges or universities, and local chapters of the Institute, 

together with special graduate courses at three universities. Total enrollment in all educational projects numbered 394 at the end of the year, 

the largest active participation since the program began.

The special graduate courses are made available to a limited number 

of examiners each year through enrollment in The Graduate School of 

Banking at Rutgers University sponsored by the American Bankers 

Association, the School of Banking at the University of Wisconsin 

sponsored by the Central States Conference of Bankers Associations, 

and the School of Consumer Banking conducted by the Consumer 

Bankers Association at the University of Virginia. These courses combine 

both resident and correspondence study. Two years of intensive study 

are required for completion, including three annual resident sessions, 

each of two weeks’ duration. To be selected to attend these schools, 

examiners must qualify by completion of other educational work.

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PERSONNEL 19

In the seven years during which the program has been in operation 

examiners of the Corporation have completed more than 1,200 educational 

courses. Of the examiners taking American Institute of Banking courses, 

92 have qualified for the Pre-Standard Certificate, 49 for the Standard 

Certificate, and 9 for the Graduate Certificate awarded by the Institute. 

At the close of 1952, 52 examiners of the Corporation held diplomas 

from the graduate banking schools, and 43 were enrolled in those schools. 

A number of others received college degrees from study completed in 

part under the evening resident program, bringing to 265 the total 

number of college degrees held by Corporation examiners.

The cost of courses taken with the American Institute of Banking 

and the special graduate courses is paid by the Corporation, although 

examiners who attend the graduate summer schools must forego ten 

days of their annual leave each year.

The Corporation’s educational program has also included substantial 

contributions to banker education through lectures by members of its 

staff at the schools of banking and by participation in seminars conducted 

by various bankers associations.

F in an c ial Statem ents of the C orporation

Assets and liabilities. A statement of assets and liabilities of the 

Corporation at the close of 1952 is given in Table 10. Among total assets 

of $1,444 million, United States Government obligations and accrued 

interest thereon constituted $1,441 million, or 99.8 percent. Against the 

$1,444 million of assets were liabilities of only $81 million, leaving $1,363 

million in the deposit insurance fund.

Assets of the Corporation at the end of 1952 also included $2 million 

of assets remaining from those acquired through bank suspensions and 

absorptions since the beginning of deposit insurance. This figure includes 

$1 million of estimated future collections from transactions to protect 

depositors, and $1 million of net book value of unliquidated assets from 

transactions to facilitate termination of liquidation proceedings, as 

shown in Table 6, page 10.

Income and expenses. The growth during 1952 in the deposit 

insurance fund is further analyzed in the statement of financial operations of the Corporation for 1952 in Table 11. Income for the year was 

$162 million and expenses or other deductions were $81 million. The 

remaining $81 million was added to the deposit insurance fund. Approximately four-fifths of the total income of the Corporation was 

derived from assessments paid by insured banks. Over half of such 

assessments was credited to the banks at the end of the year for application against assessments becoming due during 1953.

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

TABLE 10. STATEMENT OF CONDITION OF THE

FEDERAL d e p o sit in su ran ce c o r p o r a t io n

DECEMBER 31, 1952

ASSETS

C A SH ......................................................... $ 386,236.12

U. S. GOVERNMENT OBLIGATIONS AND ACCRUED

INTEREST RECEIVABLE ................................. 1,441,391,949.18

ASSETS ACQUIRED THROUGH BANK SUSPENSIONS

AND ABSORPTIONS.................................... 2,025,138.96

FURNITURE, FIXTURES AND EQUIPMENT................ 1.00

MISCELLANEOUS ACCOUNTS RECEIVABLE AND OTHER

ASSETS— LESS RESERVE FOR L O SS ................. 218,468.17

TOTAL ASSETS.................................... $1,444,021,793.43

LIABILITIES

ASSESSMENT CREDITS DUE INSURED BANKS......... $ 79,079,749.221

ACCOUNTS PAYABLE...................................... 426,721.70

ACCRUED ANNUAL LEAVE OF EMPLOYEES............. 922,907.15

EARNEST MONEY DEPOSITS AND COLLECTIONS IN

SUSPENSE ............................................... 69,127.51

RESERVE FOR PENDING DEPOSIT INSURANCE CLAIMS 24,763.88

DEFERRED CREDITS......................................... 6,579.23

TOTAL LIABILITIES................................. $ 80,529,848.69

SU R PL U S2

DEPOSIT INSURANCE FUND (See Table 11)........... 1,363,491,944.74

TOTAL LIABILITIES AND SURPLUS.............. $1,444,021,793.43

1 Consists of Net Assessment Income credit for 1952 in the amount of $73,713,345.91;

adjustments to Net Assessment Income credits for 1950 and 1951 amounting to $13,370.46

(see Table 13); and $5,353,032.85, representing unused Net Assessment Income credits for

prior years and other assessment adjustments.

* Capital stock issued to the United States in the amount of $150,000,000.00 and to the

Federal Reserve Banks in the amount of $139,299,556.99, has been retired by payments to

the United States Treasury in accordance with the provisions of Public Laws 363 and 813.

These laws were recommended by the Board of Directors of the Federal Deposit Insurance

Corporation and approved August 5, 1947, and June 29, 1948, respectively.

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TABLE 11. STATEMENT OF OPERATIONS OF THE

FEDERAL d e p o sit in su ran ce c o r p o r a t io n

FOR THE YEAR ENDED DECEMBER 31, 1952

FINANCIAL STATEMENTS OF THE CORPORATION 21

SURPLUS ADJUSTMENTS

DEPOSIT INSURANCE FUND, DECEMBER 31, 1951___$1,282,187,948.38

ADJUSTMENTS APPLICABLE TO PERIODS PRIOR TO

JANUARY 1, 1952 (Net Increase) ..................... 654,879.75

DEPOSIT INSURANCE FUND, DECEMBER 31, 1951, AS

ADJUSTED ................................................. $1,282,842,828.13

INCOME

DEPOSIT INSURANCE ASSESSMENTS $130,494,676.51

INTEREST EARNED ON U. S. GOVERNMENT OBLIGATIONS................ 31,324,465.48

OTHER INTEREST RECEIVED........... 3,251.63

OTHER INCOME ........................ 179,168.89

TOTAL INCOME................$162,001,562.51

EXPENSES, LOSSES, AND OTHER DEDUCTIONS

NET ASSESSMENT INCOME CREDITS

FOR 1952 (See Table 12)..........$ 73,713,345.91

OPERATING EXPENSES (See Table 13) 7,007,530.62

PROVISIONS FOR INSURANCE LOSSES 631,569.37

TOTAL DEDUCTIONS..........$ 81,352,445.90

NET INCOME FROM OPERATIONS......................... 80,649,116.61

DEPOSIT INSURANCE FUND, DECEMBER 31, 1952 ___$1,363,491,944.74

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22 FEDERAL DEPOSIT INSURANCE CORPORATION

Chart B. S o u r c e s a n d D is p o s it io n o f T o t a l I n c o 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 fo r t h e Y e a r E n d e d D e c e m b e r 31, 1952

Operating expenses of the Corporation in 1952 were $7 million, or 

4.3 percent of its total income. Chart B illustrates the comparative 

importance of the various sources and uses of the Corporation’s income 

for 1952.

Table 12. D e t e r m in a t io n o f N e t A s s e s s m e n t I n c o m e fo r t h e C a l e n d a r

Y e a r 1952 a n d D is t r ib u t io n o f N e t A s s e s s m e n t I n c o m e , D e c e m b e r 31, 1952

Determination of net assessment income for 1952:

Total assessments which became due during the calendar

year.......................................................................................

Less:

Operating costs and expenses for the calendar year (see

Table 14)................................................................................

Net additions to reserves to provide for insurance losses.

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

Net assessment income for 1952.

Distribution of net assessment income, December

31, 1952:

Net assessment income for 1952:

40 percent transferred to Corporation's capital account..

Balance credited pro rata to insured banks........................

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

Pro rata share of net assessment income credited to insured banks, December 31, 1952:

Credit for 1952.............................

Adjustment of 1950-51 credits.

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

$ 7,007,530.62

631,569.37

$73,713,345.91

13,370.46

$73,726,716.37

$130,494,676.51

7,639,099.99

$122,855,576.52

$ 49,142,230.61

73,713,345.91

$122,855,576.52

Percent of total

assessment becoming due in 1952

56.49

.01

56.50

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FINANCIAL STATEMENTS OF THE CORPORATION 23

The computation of net assessment income for 1952, the portion 

retained by the Corporation, and the portion credited to insured banks, 

are shown in Table 12. The procedure shown in that table is in accordance 

with the provisions for computing net assessment income credits as set 

forth in the Federal Deposit Insurance Act of 1950. These credits are 

similar in nature to dividends applicable to subsequent premiums of 

private insurance companies.

Table 13 gives a classification of the operating expenses of the Corporation for 1952. Seventy-one percent of the total operating expenses 

were wages, salaries, and other payments for personal services. Most 

of the remainder was travel expenses, incurred chiefly by employees 

of the Division of Examination.

T ab le 13. O p e r a t in g E x p e n s e s o f t h e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a tio n f o r t h e Y e a r E n d e d D e c e m b e r 31, 1952

Personal services..................................................................................................................... $4,982,022.41

1,260,034.29

12,068.22

46,394.38

377,921.02

130,221.13

46,354.36

139,346.36

50,348.07

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

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

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

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

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

Supplies and material............................................................................................................

Otner contractual services..................................................... ..............................................

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

Total........................................................................................................................ $7,044,710.24

$ 32,320.21

4,859.41

Less:

Processing costs of Duplicating Section charged to other divisions and activities

Recoverable expenses and other credits........................................................................

Total credits......................................................................................................... $ 37,179.62

Net operating expenses..................................................................................................... $7,007,530.62

A historical summary of the income and expenses of the Corporation 

and of additions to the deposit insurance fund is given in Table 14. For 

the past three years the net income of the Corporation from assessments 

and the growth in the deposit insurance fund has been smaller than in 

the immediately preceding years because of the credits to insured banks 

provided for in the Federal Deposit Insurance Act of 1950.

A condensed statement of assets and liabilities of the Corporation at 

the end of each year since commencement of operations is given in 

Table 15. There has been a growth in total assets and in the deposit 

insurance fund in each year of the Corporation’s existence except in 

1947, when the original capital subscription of the Corporation was 

repaid to the United States Treasury. The increase in liabilities during 

recent years is due chiefly to the fact that the net assessment income 

credits to insured banks, provided for in the Federal Deposit Insurance 

Act of 1950, are recorded as of the end of a year but are not available 

for use by the banks in paying assessments until the following July.

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24 FEDERAL DEPOSIT INSURANCE CORPORATION

T ab le 14. I n c o m e a n d E x p e n s e s o f t h e F e d e r a l D e p o s it I n s u r a n c e

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

Se p t e m b e r 11, 1933, to D e c e m b e r 31, 1952,

A d ju st ed a s o f D e c e m b e r 31, 1952

(In millions)

Year

Total

Income

Deposit

insurance

Investment

and

other

income

Expenses

Total

Deposit

insurance

and

expenses1

Interest

on

capital

stock

Operating

expenses2

Net

income

added to

deposit

insurance

fund

F *

1933-1952.

1 9 5 2 ....

1 9 5 1 ....

1 9 5 0 ....

1 9 4 9 ....

1 9 4 8 ....

1 9 4 7 ....

1 9 4 6 ....

1 9 4 5 ....

1 9 4 4 ....

19 4 3 ....

1 9 4 2 ....

1 9 4 1 ....

1 9 4 0 ....

19 3 9 ....

1 9 3 8 ....

1 9 3 7 ....

1 9 3 6 ....

1 9 3 5 ....

1933-34.

$1,556.0

88.3

83.6

84.7

150.7

146.8

157.7

130.9

121.2

99.5

86.7

69.4

62.0

55.9

51.2

47.8

48.1

43.8

20.7

7.0

$1,191.5

56.83

54.03

54.13

122.2

119.3

114.4

107.1

93.7

80.9

70.0

56.5

51.4

46.2

40.7

38.3

38.8

35.6

11.5

(4)

$364.5

31.5

29.6

30.6

28.5

27.5

43.3

23.8

27.5

18.6

16.7

12.9

10.6

9.7

10.5

9.5

8.2

9.2

7.0

$192.5

7.6

7.2

7.6

6.4

7.4

10.4

10.4

9.8

9.7

10.3

10.2

10.1

13.6

16.6

11.2

12.0

10.8

11.2

10.0

$27.9

.6

.4

1.2

.3

.7

.1.1.1

.1

.2

.5

.6

4.2

7.4

2.4

3.5

2.5

2.7

$80.6

4.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.6

$84.0 $1,363.5

7.0 80.7

6.8 76.4

6.4 77.1

6.1 144.3

6.1 139.4

5.5 147.3

4.5 120.5

3.9 111.4

3.8 89.8

4.3 76.4

3.9 59.2

3.7 51.9

3.6 42.3

3.4 34.6

3.0 36.6

2.7 36.1

2.5 33.0

2.7 9.5

4.16 -3.0®

1 Includes nonrecoverable expenses incurred pursuant to the insurance of deposits in closed insured banks.

* Includes furniture, fixtures, and equipment charged off.

» Net after deducting portion of net assessment income credited to insured banks, pursuant to provisions

of the Federal Deposit Insurance Act.

4 Assessments collected from insured banks, members of the temporary insurance funds, were credited to

their accounts in total at the termination of the temporary funds, 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.

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

insurance funds on June 30, 1934.

• Deduction.

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FINANCIAL STATEMENTS OF THE CORPORATION 25

T ab le 15. A sse ts a n d L ia b il it ie s o f t h e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a t io n , D e c e m b e r 31, 1934-1952

(In millions)

Dec. 31 Cash

U. S.

Government

obligations

Insurance

assets1

Other

assets

Total

assets Liabilities

Deposit

insurance

fund2

1952 $ .4 $1,441.4 $ 2.0 $.2 $1,444.0 $80.5 $1,363.5

1951 .7 1,356.3 3.0 .3 1,360.3 78.1 1,282.2

1950 2.4 1,309.5 2.3 .1 1,314.3 70.4 1,243.9

1949 1.4 1,207.3 2.8 .2 1,211.7 7.8 1,203.9

1948........ 2.3 1,066.0 3.6 .1 1,072.0 6.1 1,065.9

1947........ 4.6 1,022.5 3.6 .1 1,030.8 24.7 1,006.1

1946 7.3 1,047.7 5.6 .1 1,060.7 2.2 1,058.5

1945 15.7 900.0 15.1 .3 931.1 1.9 929.2

1944 17.8 762.0 26.1 .3 806.2 1.9 804.3

1943........ 20.0 638.8 46.2 .5 705.5 2.4 703.1

1942 19.4 536.8 62.0 .5 618.7 1.8 616.9

1941 ,, . 20.0 453.9 81.7 .1 555.7 2.2 553.5

1940 20.4 384.5 92.2 .1 497.2 1.2 496.0

1939 28.3 363.5 64.2 .1 456.1 3.4 452.7

1938........ 22.2 372.8 26.5 .1 421.6 1.1 420.5

1937 , 20.6 348.5 16.1 .1 385.3 2.2 383.1

1936 9.1 332.6 11.4 .1 353.2 9.8 343.4

1935 33.5 298.2 5.4 .1 337.2 31.2 306.0

1934 16.0 316.7 .5 .1 333.3 41.6 291.7

1 Assets acquired in protecting depositors and in facilitating termination of liquidations.

2 Designated capital and surplus in Annual Reports of the Corporation prior to 1950.

Audit. In accordance with the provisions of the Federal Deposit 

Insurance Act the audit of the Corporation for the year ended June 30, 

1952, was made by the Comptroller General of the United States. The 

short form of the audit report, as furnished to the Corporation by the 

Comptroller General, is given on pages 26-28, with the financial statements in Table 16.

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26 FEDERAL DEPOSIT INSURANCE CORPORATION

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 it e d St a t e s

W a s h in g t o n 25

December 12, 1952

Board of Directors,

Federal Deposit Insurance Corporation,

Washington 25, D. C.

Gentlemen:

An audit of the affairs of Federal Deposit Insurance Corporation for the fiscal

year ended June 30, 1952, has been made by the General Accounting Office in accordance with section 17(b) of the Federal Deposit Insurance Act, approved September

21, 1950 (12 U. S. C. 1827).

There is transmitted herewith a short form report including statements of financial

position and operations, together with explanatory notes and auditor opinion, all

of which will be included in the detailed report to be submitted by the Comptroller

General to the Congress.

Very truly yours,

L in d s a y C. W a r r e n

Comptroller General

of the United States

A u d it o r s’ O p in io n

We have examined the balance sheet of Federal Deposit Insurance Corporation

as of June 30, 1952, and the related statement of income and deposit insurance fund

for the year then ended. Our examination was made in accordance with generally

accepted auditing standards, and accordingly included such tests of the accounting

records and such other auditing procedures as we considered necessary in the circumstances and appropriate in view of the effectiveness of the system of internal

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

In our opinion, the accompanying balance sheet and statement of income and

deposit insurance fund present fairly the financial position of Federal Deposit Insurance Corporation at June 30, 1952, 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.

During our examination we observed no program, expenditure, or other financial

transaction or undertaking which, in our opinion, was carried on or made without

authority of law.

St e p h e n B. I v e s

Associate Director of Audits

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FINANCIAL STATEMENTS OF THE CORPORATION 27

Table 16. F in a n c ia l St a t e m e n t s o f th e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a t io n— fr o m A u d it o r s’ R e p o r t fo r t h e Y e a r E n d e d J u n e 30, 1952

Exhibit 1— B a l a n c e S h e e t— J u n e 30, 1952

ASSETS

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

United States Government securities, at cost (market or

redemption value, $1,414,314,000)................................................

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

Assets acquired through bank suspensions and absorptions

(note 1):

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

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

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

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

Furniture, fixtures, and equipment, at nominal value.............

LIABILITIES

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

Earnest money, escrow funds, and collections held for others

Employees’ accrued annual leave.....................................................

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

Net assessment income credits due insured banks (note 2):

Available July 1, 1952...........................................................................

Estimated amount available July 1, 1953, from net assessment

income for 6 months ended June 30, 1952...................................

Deposit insurance fund, representing accumulated income from

inception to June 30, 1952, available for future deposit insurance losses and related expenses (note 3 and exhibit 2).

$1,420,891,147

3,862,135

3,736,630

1,102,124

4,838,754

2,070,000

$69,915,851

36,327,600

$ 2,972,578

1,424,753,282

2,768,754

144,6301

$1,430,639,245

590,440

292,548

1,021,343

6,685

106,243,451

1,322,484,778

$1,430,639,245

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

Exhibit 2— St a t e m e n t o f I n c o m e a n d D e p o s it I n s u r a n c e F u n d

fo r t h e Y e a r E n d e d J u n e 30, 1952

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

$ 83,294

11,830

$ 127,747,093

30,092,199

95,124

Interest on United States Government securities...............................

Other income:

Income from bank mergers and receiverships.................................

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

Deduct:

Estimated loss on merger cases acquired during the year............

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

Deduct net assessment income credits due insured banks (note 2):

Six months ended December 31, 1951...............................................

Six months ended June 30, 1952, estimated....................................

Net income for year transferred to deposit insurance fund.............

Deposit insurance fund, June 30, 1951.................................................

Net adjustment of prior years’ estimate of losses restored to deposit insurance fund..........................................................................

880,000

6,995,257

157,934,416

7,875,257

35,311,456

36,327,600

150,059,159

71,639,056

78,420,103

1,243,839,379

225,296

1).... $1,322,484,778Deposit insurance fund, June 30, 1952 (note 3 and exhibit 

Notes 2, 3, and 4 on the following page are an integral part of this statement.

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28 FEDERAL DEPOSIT INSURANCE CORPORATION

T ab le 16. F in a n c ia l St a t e m e n t 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— fr o m A u d it o r s' R e p o r t fo r t h e Y e a r E n d e d

J u n e 30, 1952— Continued

N o te s to t h e F in a n c ia l St a t e m e n t s— Ju n e 30, 1952

1. Assets purchased under agreements with merged insured banks are evidenced by purchase

agreements allowing a return at the rate of 4 percent per annum on the principal purchase price and any

subsequent amounts expended by the Corporation. Under this arrangement the Corporation acquires

title to the assets which it liquidates, returning excess recoveries, if any, to the stockholders of the

closed banks involved.

Assets purchased outright represent collateral assets which have been purchased by the Corporation

from receivership and merger cases in order to facilitate the termination of the liquidations. These

assets are the absolute property of the Corporation and are not subject to any agreements with the

closed banks from which the assets were originally acquired.

2. 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 in 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.

The net assessment income credits stated in the balance sheet ($106,243,451) are comprised of credits

for the calendar year 1951 and the first six months (ended June 30, 1952) of calendar year 1952 in the

amounts of $69,915,851 and $36,327,600, respectively.

3. At June 30, 1952, the deposit insurance fund was equivalent to 1.37 percent of the insured

deposits in all banks, estimated by the Corporation at 96.4 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. Based on past loss experience, and the Corporation’s

compilation of data relating to banks which are potential loss cases, the fund appears to be adequate

at June 30, 1952.

The Corporation may borrow from the Treasury 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.

4. Under existing law, the Corporation is not required to bear the Government’s share of the cost

of furnishing retirement, disability, and compensation benefits to the employees of the Corporation.

These costs are estimated to be approximately $300,000 for the fiscal year 1952. Also, the Corporation

is furnished certain United States mail services without cost.

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PART TWO

BANKING DEVELOPMENTS

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A s s e t s a n d L i a b i l i t i e s o f A l l B a n k s

Developments during 1952. The year 1952 was one of moderate 

growth in American banking. Total assets, total deposits, and total 

capital accounts of all banks each increased by five percent during the 

year. On December 31 total assets amounted to $215 billion, $11 billion 

greater than at the beginning of the year. Deposits were $196 billion, 

having grown by $10 billion. Capital accounts totaled $15 billion, an 

increase for the year of three-fourths of a billion dollars. Table 17 presents 

the amounts of various asset and liability items of all banks at the 

beginning, middle, and end of 1952, and the changes during the year.

Table 17. A m o u n t s a n d C h a n g e s in A sse ts a n d L ia b il it ie s , A ll 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 ), 1952

(Amounts in millions)

Asset, liability, or capital

account item

Amount on- Change during—

Dec. 31,

1952

June 30,

1952

Dec. 31,

1951

Year

1952

Last half

1952

First half

1952

Total assets........................................... $214,831 $202,767 $203,863 $10,968 $12,064 $-1,096

Gash and funds due from banks 45,764 41,842 45,717 47 3,922 -3,875

Currency and coin......................... 2,939 2,552 2,891 48 387 -339

Member bank balances with F.

R. banks...................................... 19,810 19,333 19,912 -102 477 -579

Balances with other banks.......... 12,800 11,267 12,840 -40 1,533 -1,573

Cash items in process of collection 10,215 8,690 10,074 141 1,525 -1,384

Securities........................................... 90,460 88,093 87,586 2,874 2,367 507

U. S. Government obligations... 73,011 71,030 71,595 1,416 1,981 -565

Obligations of States and subdivisions ....................................... 10,564 10,124 9,392 1,172 440 732

Other securities.............................. 6,885 6,939 6,599 286 -54 340

Loans and discounts, n e t ........... 75,929 70,175 68,001 7,928 5,754 2,174

Valuation reserves............................. 1,077 1,033 997 80 44 36

Loans and discounts, gross 77,006 71,208 68,998 8,008 5,798 2,210

Commercial and industrial.......... 28,041 25,499 26,040 2,001 2,542 -541

Agricultural (excluding real estate) 3,947 3,673 3,430 517 274 243

Real estate...................................... 27,245 25,730 24,648 2,597 1,515 1,082

For carrying securities.................. 3,188 3,102 2,585 603 86 517

Other loans to individuals........... 12,836 11,572 10,596 2,240 1,264 976

All other........................................... 1,749 1,632 1,699 50 117 -67

Miscellaneous assets..................... 2,678 2,657 2,559 119 21 98

Total liabilities and capital accounts ............................................. $214,831 $202,767 $203,863 $10,968 $12,064 $-1,096

Deposits.............................................. 196,431 184,993 186,604 9,827 11,438 -1,611

Business and personal.................. 165,027 154,618 157,670 7,357 10,409 -3,052

Demand........................................ 100,H I 92,150 97,006 3,135 7,991 -b,856

T im e............................................. 61,909 59,702 57,U72 U,b37 2,207 2,230

Certified checks, etc..................... 2,977 2,766 3,192 -215 211 ~b26

United States Government......... 5,348 6,212 3,700 1,648 -864 2,512

States and subdivisions................ 10,687 10,598 10,102 585 89 496

Interbank and postal savings.. ..

Total demand deposits...............

15,369 13,565 15,132 237 1,804 -1,567

131,722 122,655 126,680 5,0b2 9,067 -b,025

Total time deposits..................... 6b,709 62,338 59,92b b,785 2,371 2,blU

Miscellaneous liabilities.............. 2,946 2,649 2,553 393 297 96

Capital accounts............................. 15,454 15,125 14,706 748 329 419

Capital stock, notes, and debentures .............................................. 4,017 3,976 3,840 177 41 136

Surplus............................................. 7,776 7,459 7,262 514 317 197

Undivided profits........................... 3,066 3,120 3,027 39 -54 93

Other................................................. 595 570 577 18 25 -7

Number of banks1............................... 14,617 14,641 14,661 44 -24 -20

1 Includes noninsured banks for which asset and liability data were not available, as follows: 21 for

Dec. 31, 1952; 17 for June 30, 1952; and 25 for Dec. 31, 1951.

31

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32 FEDERAL DEPOSIT INSURANCE CORPORATION

As in recent years, both total assets and total deposits of all banks 

declined during the first half of the year, and increased during the second 

half. The asset decreases in the first months of the year were chiefly in 

cash and funds due from banks, the liability decreases in interbank 

deposits and in business and personal demand deposits. These in turn 

reflected primarily the usual seasonal slackening of trade and the seasonal 

increase in tax payments. It may be noted, however, that time deposits 

increased in the first half of the year as well as in the second.

The increases in assets and deposits in the second half of the year were 

sufficient both to offset the decreases during the first half and also to 

produce a net increase for the year in all major asset, liability, and 

capital account items of the banks. This may be attributed to a reversal 

of the seasonal forces after the first months of the year, together with 

normal growth tendencies.

Chart C. P e r c e n t a g e D is t r ib u t io n s o f T o t a l A sse ts a n d o f

L o a n s a n d D is c o u n t s, A l l B a n k s , D e c e m b e r 31, 1952

TOTAL ASSETS

$215 BILLION

OBLIGATIONS OF

STATES AND SUBDIVISIONS OTHER SECURITIES MISCELLANEOUS

mmmmzmmm NONGOVERNMENTAL OBLIGATIONS \

90 100

PERCENT

LOANS AND DISCOUNTS

$77 BILLION (GROSS)

OTHER FARM LOANS FOR CARRYING SECURITIES

Distribution of assets and liabilities at end of 1952. As illustrated 

in the upper bar of Chart C, loans and United States Government obligations each constituted a little over one-third of total bank assets at 

the close of 1952. In the second bar of Chart C all obligations of governmental units (currency and coin excepted) are combined, and nonDigitized for FRASER 

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ASSETS AND LIABILITIES OF ALL BANKS 33

governmental securities are combined with loans and discounts into a 

total of nongovernmental obligations. Each of these combined amounts 

constituted a little less than 40 percent of total assets, cash and miscellaneous assets accounting for the remainder.

Of total loans of all banks at the end of 1952, those for commercial 

and industrial purposes and those on real estate each made up a little 

more than one-third. Other loans to individuals, primarily to consumers, 

were about one-sixth of total loans. The percentage distribution of total 

loans is shown in the lower bar of Chart C.

C h a r t D . P e r c e n ta g e D is tr ib u tio n s o f T o t a l L ia b ilit ie s an d C a p it a l

A c c o u n ts , o f D e p o s its , an d o f C a p it a l A c c o u n ts , A l l B a n k s,

D e c e m b e r 31, 1952

TOTAL. LIABILITIES AND CAPITAL ACCOUNTS

$215 BILLION'

CAPITAL ACCOUNTS

.90 100

PERCENT

DEPOSITS

$196 BILLION

STATES AND SUBDIVISIONS

90 100

PERCENT

DEM AN D DEPOSITS

90 100

PERCENT

CAPITAL ACCOUNTS

$15 BILLION

90 100

PERCENT

On the liability side of the balance sheet of all banks, as illustrated 

in Chart D, deposit and other liabilities accounted for 93 percent of the

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34 FEDERAL DEPOSIT INSURANCE CORPORATION

total and capital accounts for 7 percent. Business and personal deposits 

accounted for over four-fifths of total deposits. Classified by type, 

two-thirds of total deposits were demand deposits and one-third time 

deposits. Capital stock represented only one-fourth of total capital 

accounts and surplus one-half, the balance being undivided profits and 

contingency reserves.

Trends in banking. Banking developments in 1952 continued 

previous trends. Table 18 gives a condensed statement of assets and 

liabilities of all banks at the end of 1952 and of each of the preceding 

six years. Table 19 shows for each of the last six years the percentage 

increase or decrease in each asset or liability item, along with the average 

rate of change for each item over the whole six-year period.

Table 18. A sse ts a n d L ia b il it ie s , A ll B a n k s in t h e U n it e d St a t e s

(C o n t in e n t a l U . S. a n d O t h e r A r e a s), D e c e m b e r 31, 1946-1952

(Amounts in millions)

Asset, liability, or capital

account item 1952 1951 1950 1949 1948 1947 1946

Total assets........................ $214,831 $203,863 $192,241 $180,043 $176,075 $176,024 $169,255

Cash and funds due from

banks............................. 45,764 45,717 41,236 36,676 39,635 38,560 35,185

U. S. Govt, obligations.

Obligations of States and

73,011 71,595 73,188 78,754 74,462 81,637 87,031

subdivisions.................. 10,564 9,392 8,249 6,657 5,754 5,362 4,471

Other securities............... 6,885 6,599 6,568 6,025 5,717 5,398 5,046

L o a n s a n d disco u n ts— net 75,929 68,001 60,711 49,828 48,453

2,054

43,231 35,810

Miscellaneous assets 2,678 2,559 2,289 2,103 1,836 1,712

Total liabilities and

capital accounts. .. $214,831 $203,863 $192,241 $180,043 $176,075 $176,024 $169,255

Total deposits.................. 196,431 186,604 176,120 165,244 162,041 162,729 156,751

Business and personal.

Government and inter165,027 157,670 149,455 140,241 138,674. 1^0,857 188,955

bank ........................... 81 ,404 28,984 26,665 25,008 28,867

1,480

22,872 22,796

Miscellaneous liabilities. 2,946 2,553 2,205 1,633 1,298 1,159

Total capital accounts.. 15,454 14,706 13,916 13,166 12,554 11,997 11,345

Number of banks1............. 14,617 14,661 14,693 14,736 14,753 14,767 14,655

1 Includes noninsured banks for which asset and liability data were not available, as follows: 21 in

1952, 25 in 1951, 27 in 1950, 31 in 1949, 18 in 1948, 12 in 1947, and 104 in 1946.

Detailed data for 1952: See Table 107, pp. 104-105.

From 1947 through 1952 total assets of all banks increased at an 

average annual rate of 4.1 percent, with increases in the different years 

varying from nearly zero to as high as 6.8 percent. The 5.4 percent 

growth for 1952 was somewhat less than that in the two preceding years, 

though more rapid than that in 1948 and 1949. The average annual rate 

of growth in deposits over the six-year period was 3.8 percent.

The proportion of total bank assets consisting of loans further increased in 1952, and the proportion consisting of United States Government obligations further decreased. These movements continued the 

shift toward the prewar distribution of assets which has been underway 

since 1945. At the end of 1952, for the first time since 1941, the amount

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ASSETS AND LIABILITIES OP ALL BANKS 35

of loans held by banks exceeded their holdings of United States Government obligations. Table 20 gives the percentage distribution of assets 

and liabilities of all banks at the end of each of the past seven years.

Table 19. P e r c e n t a g e C h a n g e s in A s se ts a n d L ia b il it ie s , A l l B a n k s in t h e

U n it e d S t a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s ), Y e a r l y a n d A v e r a g e ,

1947-1952

Asset, liability, or capital

account item

Average

annual

rate,

1947-

19521

1952 1951 1950 1949 1948 1947

Total assets........................ 4.1% 5.4% 6.0% 6.8% 2.3% (2) 4.0%

Cash and funds due from

banks............................. 4.5 .1 10.9 12.4 -7.5 2.8% 9.6

U. S. Govt, obligations.

Obligations of States and

-2.9 2.0 -2.2 -7.1 5.8 -8.8 -6.2

subdivisions.................. 15.4 12.5 13.9 23.9 15.7 7.3 19.9

Other securities............... 5.3 4.3 .5 9.0 5.4 5.9 7.0

Loans and discounts— net 13.3 11.7 12.0 21.8 2.8 12.1 20.7

Miscellaneous assets. . . . 7.7 4.7 11.8 8.8 2.4 11.9 7.2

Total liabilities and

capital accounts___ 4.1% 5.4% 6.0% 6.8% 2.3% (2) 4.0%

Total deposits.................. 3.8 5.3 6.0 6.6 2.0 -0.4% 3.8

Business and personal.

Government and inter3.5 h7 5.5 6.6 1.1 -1.2 J>.8

bank .............................. 5.5 8.5 8.5 6.6 7.0 u.u -1.9

Miscellaneous liabilities. 16.8 15.4 15.8 35.0 10.3 14.0 12.0

Total capital accounts.. 5.3 5.1 5.7 5.7 4.9 4.6 5.7

1 Computed by compound interest formula.

2 Less than 0.05 percent increase.

Obligations of States and subdivisions held by banks continued to 

increase more rapidly than total bank assets, and now constitute 5 

percent of the total. Although the dollar amount of such obligations 

held by the banks has reached a record high, the increase in 1952 represented a return, percentagewise, to the prewar level.

Table 20. 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 n d L ia b il it ie s , A l l B a n k s in

t h e U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), D e c e m b e r 31,1946-1952

Asset, liability, or capital

account item 1952 1951 1950 1949 1948 1947 1946

Total assets........................ 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Cash and funds due from

banks.............................. 21.3 22.4 21.4 20.4 22.5 121.9 20.8

U. S. Govt, obligations.. 34.0 35.1 38.1 43.7 42.3 46.4 51.4

Obligations of States and

Hk subdivisions.................. 4.9 4.6 4.3 3.7 3.3 3.0 2.6

Other securities................ 3.2 3.2 3.4 3.3 3.2 3.1 3.0

Loans and discounts— net 35.3 33.4 31.6 27.7 27.5 24.6 21.2

Miscellaneous assets. . . . 1.3 1.3 1.2 1.2 1.2 1.0 1.0

Total liabilities and

capital accounts... 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Total deposits.................. 91.4 91.5 91.6 91.8 92.0 92.5 92.6

Business and personal. 76.8 77.3 77.7 77.9 78.7 79.8 79.1

Government and interbank............................. U.6 1I>.2 13.9 13.9 13.3 12.7 13.5

Miscellaneous liabilities. 1.4 1.8 1.2 .9 .9 .7 .7

Total capital accounts.. 7.2 7.2 7.2J 7.8 7.1 6.8 6.7

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36 FEDERAL DEPOSIT INSURANCE CORPORATION

The variation over recent years in the composition of total loans of 

all banks is illustrated in Chart E. The category of loans reported as 

“ other loans to individuals,” which consists chiefly of consumer loans, 

has increased substantially during all but one of the years shown, and 

has risen from 11 percent to 17 percent of total loans over the six-year 

period. In other categories of loans no sustained movement is revealed, 

but instead there have occurred both upward and downward variations 

as the banking system has adjusted its services to the requirements of 

the economy.

Chart E. P e r c e n t a g e D is t r ib u t io n o f L o a n s, A l l B a n k s ,

D e c e m b e r 31, 1946— 1952

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ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 37

A s se t s a n d L ia b il it ie s o f I n s u r e d C o m m e r c ia l B a n k s

At the close of 1952, insured commercial banks constituted 92 percent 

of all banks in the nation, and held 87 percent of the total assets of all 

banks. Asset and liability data for these banks are given in Table 21. 

Because insured commercial banks determine the pattern of developments 

for all banks, the broad picture of banking trends and the banking 

situation described above applies also to insured commercial banks as 

a separate group. Attention will therefore be directed in this section to 

certain matters of interest concerning which available information is 

more complete for insured commercial banks than for all banks.

Table 21. A sse ts a n d L ia b il it ie s , 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 ), D e c e m b e r 31, 1946-1952

(Amounts in millions)

Asset, liability, or capital

account item 1952 1951 1950 1949 1948 1947 1946

Total assets........................ $186,682 $177,449 $166,792 $155,319 $152,163 $152,773 $147,365

Cash and funds due from

banks............................. 44,299 44,242 39,864 35,222 38,097 36,936 33,704

U. S. Govt, obligations.

Obligations of States and

62,408 60,599 61,047 65,847 61,407 67,960 73,575

subdivisions.................. 10,006 9,016 7,959 6,403 5,511 5,131 4,301

Other securities............... 3,866 4,058 4,192 3,574 3,421 3,621 3,593

Loans and discounts— net 63,824 57,371 51,809 42,499 41,979 37,592 30,740

Miscellaneous assets. . . . 2,279 2,163 1,921 1,774 1,748 1,533 1,452

Total liabilities and

capital accounts___ $186,682 $177,449 $166,792 $155,319 $152,163 $152,773 $147,365

Total deposits.................. 171,357 163,172 153,498 143,194 140,683 141,889 137,029

Business and ^personal.

Government and interH O,639 18U,915 127,480 118,929 118,07 U 120,260 115,024

bank ............................ 30,718 28,257 26,018 2 U,265 22,609 21,629 22,005

Miscellaneous liabilities. 2,740 2,354 2,013 1,476 1,320 1,148 1,048

Total capital accounts.. 12,585 11,923 11,281 10,649 10,160 9,736 9,288

Number of banks............... 13,439 13,455 13,466 13,436 13,419 13,403 13,359

Detailed data for 1951 and 1952: See Table 109, pp. 108-11.

Maturities of United States Government obligations. Of the

$62 billion of United States Government obligations held by insured 

commercial banks at the end of 1952, 4 percent were nonmarketable 

issues mostly redeemable on short notice at the option of the banks. Of 

the marketable issues nearly one-third were to mature within one year 

and over one-third between one and five years. The amounts and percentage distributions of United States Government obligations held by 

insured commercial banks are given in Table 22.

Assets protected by Government guarantee. In addition to 

direct and fully guaranteed United States Government obligations, 

other assets have been increasingly protected in recent years by full 

or partial application of Federal insurance or guarantee. At the end of

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38 FEDERAL DEPOSIT INSURANCE CORPORATION

1952 insured commercial banks reported $6.6 billion of loans secured by 

residential real estate which were insured or guaranteed by the Federal 

Housing Administration or by the Veterans Administration. This represented 55 percent of total residential real estate loans held by insured 

commercial banks. These banks also held $0.7 billion of loans to farmers 

directly guaranteed by the Commodity Credit Corporation. Certain 

other bank loans are known to be insured or guaranteed by one or another 

Federal Government agency. Most of the $1.5 billion of repair and 

modernization loans to individuals was insured by the Federal Housing 

Administration, and most of the $1 billion of defense production loans 

guaranteed by Federal agencies through the Federal Reserve banks were 

loans by commercial banks. Smaller amounts of business and farm loans 

were insured or guaranteed by the Veterans Administration, Reconstruction Finance Corporation, Export-Import Bank, and Farmers 

Home Administration.

In total an estimated $10 billion of the loans held by insured commercial banks was either wholly or partially guaranteed or insured by the 

Federal Government. Therefore such protection applied to approximately 

15 percent of the total loans of insured commercial banks at the year-end.

T ab le 22. A m o u n t a n d P e r c e n t a g e D is t r ib u t io n o f U n it e d St a t e s G o v e r n m e n t

O b l ig a t io n s H e ld b y 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 St a t e s

(C o n t in e n t a l U . S. a n d O t h e r A r e a s ), D e c e m b e r 31, 1952

Classification

Amounts"(in millions) Percentage

distributions

Total Bills

Certificates

of indebtednessNotes Bonds

Of total

holdings

by type

of issue

Of marketable

direct

issues by

maturity

group

Total................................................ $62,408

59,791

18,290

24,933

11,206

5,362

22

2,595

$7,629

7.629

7.629

$5,504

5.504

5.504

$11,800

11,740

1,021

10,719

$37,475

34,918

4,136

14,214

11,206

5,362

22

2,535

100.0%

95.8

29.3

39.9

18.0

8.6

(3)

4.2

Marketable direct issues.........

Maturing within one year1. . .

Maturing between 1 and 5yearsl

Maturingbetween5andl0years

Maturing between 10 and 20

years.........................................

100.0%

30.6

41.7

18.7

9.0

Marketable guaranteed issues2

Nonmarketable issues4............. 60

1 Reports of assets and liabilities made by the banks do not include information as to maturities of

issues other than"'bonds, and do not separate bonds maturing within one year from the total of those

maturing within five years. However, all issues of bills or certificates of indebtedness outstanding December 31, 1952, were to mature within one year, and are so classified in this table. Amounts shown

here as notes and bonds maturing within one year are the amounts held by 7,092 principal commercial

banks included in the Treasury Survey of Ownership for December 31, 1952. Relatively small additional

amounts of notes and bonds maturing within one year and held by the remaining insured commercial

banks are not separately available and are included under notes and bonds maturing between one and

five years.

* Federal Housing Administration debentures.

* Less than 0.05 percent.

4 Reported by banks in total only. Allocation between notes and bonds is from Treasury Survey of

Ownership. Relatively small amounts of Treasury savings notes held by insured commercial banks not

included in the Survey are included under bonds.

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ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 39

T ab le 23. T otal A ssets, T otal L oans, and Other L oans to I ndividuals,

I nsured C ommercial Ban ks in the U nited States

(C ontinental U. S. and Other A reas), D ecember 31, 1946-1952

(Amounts in millions)

Asset item 1952 1951 1950 1949 1948 1947 1946

Total assets........................ $186,682 $177,449 $166,792 $155,319 $152,163 $152,773 $147,365

Total loans and discounts— n et............... 63,824 57,371 51,809 42,499 41,979 37,592 30,740

Other loans to individuals1 .............................. 12,642 10,399 10,061 8,007 6,807 5,656 4,031

Instalment loans............. 8,568 6,681 6,584 5,071 4,041 3,019 1,828

Retail automobile instalment paper.......... 8,555 2,7U 2,701 1,955 l,b85 966 51U

Other retail instalment

paper.......................... 1,781 1,8U i , m 1,028 797 551 828

Repair and modernization instalment loans 1,U7S 1,150 1,075 928 729 558 811

Instalment cash loans. 1,759 1,U6S 1,88 U 1,170 1,080 9U 675

Single-payment loans2.. 4,074 3,718 3,477 2,936 2,766 2,637 2,203

Number of banks................ 13,4391 13,455i 13,4661 13,436 13,419 13,403 13,359

1 All loans to individuals except business loans, loans to farmers, loans for the purpose of purchasing

or carrying securities, and real estate loans.

2 For 1949, 1950, and 1951 single-payment loans of 3,000 or more were reported separately and

amounted, respectively to 2,003 million, 2,421 million, and 2,638 million.

Types of consumer loans. Banks report their consumer loans under 

the classification “ Other loans to individuals,” which includes all loans 

to individuals other than business, agricultural, security, or real estate 

loans. Table 23 gives the amount and classification of loans so reported 

by insured commercial banks, and for purposes of comparison the total 

assets and total loans of these banks, at the end of each year from 1946 

to 1952. Table 24 gives the percentage growth of the same items during

1952 and for the period since 1946, and their percentage distribution 

at the end of 1952.

T ab le 24. Percentages I llustrating R ecent G row th and P resent R elative

I mportance of Other L oans to Individuals, I nsured C ommercial Banks

in the U nited States (Continental U. S. and Other A reas)

Asset item

Percentage change to

Dec. 31, 1952, from—

Percentage of total

Dec. 31, 1952

Dec. 31,

1951

Dec. 31,

1946

Total

assets

Other

loans to

individuals

Instalment

loans

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

Total loans and discounts— n e t ..........

Other loans to individuals1.....................

Instalment loans...........................................

Retail automobile instalment paper... .

Other retail instalment paper.................

Repair and modernization instalment

loans........................................................

Instalment cash loans...............................

Single-payment loans..................................

5.2%

11.2

21.6

28.2

80.5

32.5

28.1

20.2

9.6

26.7%

107.6

213.6

368.7

591.6

u s .o

878.6

160.6

84.9

100.0%

34.2

6.8

4.6

1.9

1.0

.8

.9

2.2

100.0%

67.8

28.1

U .l

11.7

13.9

32.2

100.0%

U .5

20.8

17.2

20.5

1 All loans to individuals except business loans, loans to farmers, loans for the purpose of purchasing

or carrying securities, and real estate loans.

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The total volume of single-payment loans to individuals consists 

principally of loans which cannot properly be classified as consumer 

credit. This is suggested by the fact that for years in which a breakdown 

is available about two-thirds of such loans were in the amount of $3,000 

or more. Single-payment loans have grown in recent years at about the 

same rate as total loans, but not at the more rapid rate characterizing 

instalment loans to individuals.

It may be seen from those portions of the tables dealing with instalment 

loans that the banks have participated in the recent rapid growth in 

consumer credit. Consumer instalment loans by banks have risen fourfold 

since 1946 and rose by nearly one-third in 1952. However, it should also 

be noted that consumer loans are not as yet more than a minor segment 

of total commercial bank credit, constituting at the end of 1952 less 

than 5 percent of total assets.

Capital accounts. The ratio of total capital accounts to total assets 

of insured commercial banks was 6.7 percent at the end of 1952. This 

ratio was identical with that in 1951 and virtually the same as that in 

other recent years.

I ncome of I nsured C om mercial Ba n k s

The forms provided to banks by the various banking agencies for the 

reporting of earnings and dividends of each calendar year make use of 

an accounting process which may be described in three parts. (1) From 

current operating earnings, such as interest received on loans and service 

charges collected, are subtracted current operating expenses, such as 

wages and interest paid on time deposits. The result is net current 

operating earnings. (2) Net current operating earnings are adjusted to 

account for the effects of recoveries, losses, and changes in asset valuation 

reserves, yielding the figure for profits before income taxes. (3) Profits 

before income taxes are allocated among income taxes, dividends, and 

additions to capital.

A more general view of the operating experience of banks may be 

obtained by rearranging the items reported so as to provide an analysis 

of the sources and disposition of total income. So conceived, total income 

includes not only current operating earnings, but also other sources of 

additions to undivided profits: recoveries on assets previously charged 

off, profits on securities sold, and transfers from asset valuation reserves. 

This total income is used to meet current operating expenses; to cover 

losses, charge-offs, and transfers to valuation reserves; to pay income 

taxes and dividends; and to provide for increases in bank capital.

Sources and disposition of income in 1952. The sources and 

disposition of the total income of insured commercial banks for 1952

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INCOME OF INSURED COMMERCIAL BANKS 41

are shown in Chart F. Total income was $5 billion, of which over half 

was derived from loans and almost one-fourth from United States Government obligations. Of the total income, 30 percent was used for wages 

and salaries and another 30 percent for current expenses of other kinds. 

Charge-offs and taxes absorbed about 20 percent, leaving 20 percent 

for dividends to stockholders and additions to capital.

Chart F. S o u r c e s an d D isp o sitio n op T o t a l Incom e,

In s u r e d C o m m e rc ia l B a n k s, 1952

Trends in major sources of income. For four years prior to 1947 

the largest single source of bank income was securities, predominantly 

United States Government obligations. The year 1947 marked a return 

to the situation in which income from loans exceeded that from securities. The proportion of total income derived from loans has continued 

to increase, and reached 55 percent in 1952. At the same time the proportion of total income derived from securities has decreased, although 

the 1952 figure of 27 percent was the same as that for 1951. Table 25 

gives the total income of insured commercial banks for the years 1947 

through 1952 classified as to sources and disposition, and Table 26 

presents percentage distributions based on these figures.

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42 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 25. S o u r c e s an d D isp o sitio n o f T o t a l Incom e, In s u r e d C o m m erc ia 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 ), 1947-1952

(In millions)

Item 1952 1951 1950 1949 1948 1947

Total incom e.................................................... $5,076 $4,564 $4,177 $3,820 $3,670 $3,360

Sources

Current operating earnings.......................... 4,932 4,395 3,931 3,607 3,404 3,098

Loans............................................................. 2,781* 2,U25 2,008 1,760 1,600 1,282

U. S. Government obligations.................... 1,099 98U 1,015 1,013 1,008 1,080

Other securities............................................. 277 2U9 226 202 190 179

Service charges on deposit accounts.......... 2U5 230 212 19 U 17 1* 11*8

Other current earnings................................ 527 507 U70 1*38 1*32 1*09

Recoveries, transfers from valuation

reserves, and profits on securities sold. 144 169 246 213 266 262

Disposition

Current operating expenses......................... $3,029 $2,701 $2,445 $2,284 $2,164 $1,982

Salaries and wages...................................... 1,U95 1,350 1,202

31*3

1,111 1,0 u 91*7

Interest on deposits...................................... U58 385 328 317 298

Other current expenses................................ 1,076 966 900 81*5 803 737

Charge-offs, losses, and transfers to

valuation reserves....................................... 362 395 367 380 486 295

Income taxes.................................................... 695 560 428 325 275 302

Dividends......................................................... 442 419 391 354 332 315

Additions to capital accounts...................... 548 489 546 477 413 466

Detailed data: See Table 110, pp. 114-15.

The shift in the relative importance of income from loans and securities between 1947 and 1952 was due principally to changes in the 

amounts of these assets held, and only slightly to changes in rates of 

income on the two kinds of assets. In terms of averages of figures for the 

beginning, middle, and end of each year, the volume of loans in 1952 

was 77 percent greater, and holdings of United States Government 

obligations 13 percent less, than in 1947.

Table 26. P e r c e n ta g e D is tr ib u tio n o f S o u rc e s an d D isp o sitio n o f T o t a l

Incom e, In su re d C o m m ercial B a n k s in t h e U n ite d S ta t e s (C o n tin e n ta l

U . S. and O th e r A r e a s ), 1947-1952

Item 1952 1951 1950 1949 1948 1947

Total incom e........................................ 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Sources

Current operating earnings............. 97.2 96.3 94.1 94.4 92.8 92.2

Loans................................................. 51*.8 53.1 1*8.1 1*6.1 1*3.6 38.2

U. S. Government obligations. . . . 21.7 21.6 21*.3 26.5 27.5 32.1

Other securities................................ 5.5 5.5 5 4 5.3 5.2 5.3

Service charges on deposit accounts 1*.8 5.0 5.1 5.1 U-7 u.u

Other current earnings................... 10.1* 11.1 11.2 11.1* 11.8 12.2

Recoveries, transfers from valuation reserves, and profits on

securities sold.................................. 2.8 3.7 5.9 5.6 7.2 7.8

Disposition

Current operating expenses............. 59.7 59.2 58.6 59.8 59.0 59.0

Salaries and wages......................... 29.5 29.6 28.8 29.1 28.5 28.2

Interest on deposits......................... 9.0 8.1* 8.2 8.6 8.6 8.9

Other current expenses................... 21.2 21.2 21.6 22.1 21.9 21.9

Charge-offs, losses, and transfers to

valuation reserves.......................... 7.1 8.6 8.8 9.9 13.2 8.7

Income taxes....................................... 13.7 12.3 10.2 8.5 7.5 9.0

Dividends............................................. 8.7 9.2 9.3 9.3 9.0 9.4

Additions to capital accounts........ 10.8 10.7 13.1 12.5 11.3 13.9

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INCOME OF INSURED COMMERCIAL BANKS 43

There was a much smaller difference between the changes which 

occurred in rates of income received. Both rates increased. The rate on 

United States Government obligations rose by 17 percent, that on loans 

by 22 percent. Holdings of municipal and corporate securities grew 

rapidly, but the influence of this minor segment of securities on total 

income from securities was overshadowed by the decrease in holdings 

of United States Government obligations. Average rates of income on 

loans and securities and other operating ratios for the years 1947 to 

1952 are presented in Table 27.

Table 27. Se l e c t e d O p e r a t in g R a t io s, 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), 1947-1952

Operating ratio1 1952 1951 1950 1949 1948 1947

Net current operating earnings to total assets 1.06% 1.00% .93% .87% .82% .75%

Net profits after taxes to total capital accounts 8.07 7.82 8.51 7.98 7.49 8.20

Dividends and interest on capital to total

capital accounts.............................................. 3.60 3.61 3.55 3.40 3.33 3.31

Retained net profits to total capital accounts 4.47 4.21 4.96 4.58 4.16 4.89

Average rate of income on loans................... 4.64 4.45 4.34 4.22 4.04 3.79

Average rate of income on U. S. Government

obligations........................................................ 1.80 1.65 1.59 1.61 1.57 1.54

Average rate of income on other securities.. 2.04 1.99 2.04 2.15 2.14 2.16

Average interest paid on time and savings

deposits............................................................. 1.15 1.03 .94 .91 .90 .87

Average service charges to demand deposits .20 .20 .19 .18 .17 .14

Income taxes to net profits before income taxes 41.24 38.15 31.35 28.11 26.98 27.89

1 For data used in deriving these ratios, and additional ratios, see Tables 110 and 111, pp. 114-17.

Income on loans. Loan income in 1952 was 15 percent greater than 

in 1951, due primarily to the 10 percent growth in average loan volume, 

and to a lesser extent to the increase in the average rate of income on 

loans from 4.45 percent to 4.64 percent.

Banks in all size groups reported moderately higher average rates of 

income on loans. As in previous years, average rates of income on loans 

varied inversely with size of bank. Banks with deposits of $500,000 or 

less received an average rate of return of 7.24 percent, and those with 

deposits of more than $100 million an average of 3.76 percent.1 This 

difference in rates of income is associated with differences in the nature 

and size of loans and in the geographical distribution of banks of different 

sizes. Average rates are highest in certain Southern and Western States, 

and lowest in some Northern and Eastern States. The average rate of 

income received on loans in each State is shown in Chart G.

Income on securities. Income on United States Government obligations was 12 percent greater in 1952 than in 1951. This growth, in 

contrast to that in income from loans, was due chiefly to the receipt of 

a higher average rate of income. The average amount of United States

1 For these and certain other earnings and expense statistics for banks grouped by size see Tables 114

and 115, pp. 122-125.

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44 FEDERAL DEPOSIT INSURANCE CORPORATION

Government obligations held in 1952 was only 2 percent greater than 

in 1951, while the average rate of income on such assets rose from 1.65 

percent to 1.80 percent.

Income from other securities also increased in 1952, but its 11 percent 

growth over 1951 was due almost entirely to greater holdings of such 

securities. The rate of income on these securities averaged 2.00 percent, 

practically the same as in 1951 but appreciably below the rate received 

in other recent years.

C h a r t G. R a t e o f In com e on L o a n s, In s u r e d C o m m e rc ia l B a n k s, 1952

Recoveries on charged-off assets and profits on securities sold.

Although all sources of current operating earnings, as shown in Table 25, 

provided greater income in 1952 than 1951, there was for the second 

successive year a decrease in income from other sources. The decrease 

in 1952 was due partly to a decline in recoveries on assets previously 

charged-off, but mainly to a reduction in the amount of profits on securities sold.

Compensation of employees. Total compensation paid to officers 

and employees of insured commercial banks during 1952 was 11 percent 

greater than in 1951, due to increased employment and higher average 

rates of pay. Banks report separately their salary and wage payments 

to officers and to employees, and report also the number of officers and 

employees at the end of the year. These reports indicate that for 1952

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INCOME OF INSURED COMMERCIAL BANKS 45

the average salary of bank officers was $7,041, and the average compensation of other employees $2,784. The number of employees reported 

includes those working part time, and this average therefore understates 

to an unknown extent the average compensation of full-time bank 

employees. The figures reported also exclude the costs of fringe benefits, 

such as payments for hospitalization insurance or into pension funds, the 

amounts of which are not separately reported. Average compensation, 

especially of bank officers, varies directly with the size of bank, as indicated in Chart H.

C h a r t H. A v e r a g e S a la r y o f E m p lo y e e s, In s u r e d C o m m erc ia l B a n k s, 1952

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Interest on time deposits. Next to wages and salaries, the largest 

single expense to banks in 1952 was the interest paid on savings and 

time deposits. Such payments increased 19 percent over 1951, about 

one-third of the rise being due to growth in deposits and two-thirds 

to the advance in the average rate of interest paid. The average rate of 

1.15 percent paid in 1952 further extended the sharp increase of 1951, 

in contrast to the slow rise of preceding years. Relevant figures are given 

in Table 27.

Net current operating earnings. Net current operating earnings— 

the excess of current operating earnings over current operating expenses— 

of insured commercial banks in 1952 was 12 percent greater than in 

1951. This may be attributed partly to the growth in bank assets and 

the change in their composition, inasmuch as the costs of acquiring and 

servicing individual assets do not rise in proportion to their dollar amount. 

It is probably attributable in part also to a more rapid rise in rates of 

income received on bank assets than in wages, salaries, and other costs 

of banking operations.

Charge-offs and additions to reserves. Total losses, charge-offs, 

and transfers to asset valuation reserve accounts were 8 percent smaller 

in 1952 than in the preceding year. The decline was fully accounted for 

by reduced additions to reserve accounts for loans. It is probable that 

by 1952 many banks had become ineligible to make further additions 

to bad-debt reserves in accordance with the December 8, 1947, ruling 

of the Commissioner of Internal Revenue. Moreover, the maximum 

amount of reserves which may be accumulated under this ruling is now 

diminishing for most banks, because the maximum is based on average 

losses of the preceding twenty years. As depression years of the early 

1930’s are successively dropped from the period to be averaged, the 

ceiling levels decline.

The number and percentage of banks using the reserve method of 

accounting changed but little between 1951 and 1952, as indicated in 

Table 28. At the end of 1952, 45 percent of all insured commercial banks 

had reserves established in accordance with this ruling. The larger banks 

have made relatively greater use of this procedure. At the end of 1952, 

over nine-tenths of the banks with deposits of $100 million or more had 

bad-debt reserves established in this manner; and reserves held by these 

banks comprised 63 percent of all such reserves.

Losses and recoveries which are debited or credited to asset valuation 

reserves and therefore do not affect undivided profits are not a source 

or use of total income as that concept is used in this report. However, 

such losses and recoveries are separately reported by the banks, making 

possible comparisons of losses charged to reserve accounts with losses 

charged directly to capital accounts. For the year 1952 the realized

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INCOME OF INSURED COMMERCIAL BANKS 47

losses on loans of insured commercial banks were $88 million and those 

on securities $123 million, up 3 percent and 21 percent, respectively, 

compared with 1951. The larger loss on securities in 1952 may be attributed in part to the sale of securities at the lower market prices prevailing in 1952. Of the losses on loans, approximately three-fourths were 

charged to reserve accounts, the same proportion as in other recent 

years. Of the losses on securities, however, only one-fifth were covered 

by reserves and the remainder was charged to capital accounts.

T a b le 2 8 . N u m b e r an d P e r c e n ta g e o f In s u r e d C o m m e rc ia l B a n k s R e p o r tin g

R e s e r v e s f o r B ad D e b t s P u r s u a n t t o S e c tio n 23(K)1 o f t h e I n t e r n a l R e v e n u e

C o d e, an d A m o u n t o f R e s e r v e s so H e ld , D e c e m b e r 31, 1948-1952, w ith B a n k s

O p e r a tin g T h r o u g h o u t 1952 G ro u p e d b y A m o u n t o f D e p o s its f o r

D e c e m b e r 31, 1952

Number of banks Reserves held1

Year or size group

Total Reporting

reserves

Percent

reporting

reserves

Amount

(in

thousands)

Percentage

distribution

of total

(1952)

All insured commercial banks

Dec. 31:

1952.................................................... 13,439 6,112 45.5% $794,031

1951.................................................... 13,455 6,013 44.7 716,455

13,446 5,796 43.1 590,5601950....................................................

1949.................................................... 13,436 5,580 41.5 464,034

1948.................................................... 13,419 5,123 38.2 320,658

Banks operating throughout 1952—

total.................................................. 13,367 6,108 45.7 791,9872 100.0%2

Banks with deposits Dec. 31 of—

$500,000 or less............................... 371 51 13.7 164 (3)

$500,000 to $1,000,000................... 1,607 367 22.8 2,315 0.3

$1,000,000 to $2,000,000................ 3,052 891 29.2 8,992 1.1

$2,000,000 to $5,000,000................ 4,357 1,968 45.2 37,215 4.7

$5,000,000 to $10,000,000.............. 2,010

1,571

1,266

1,210

63.0 48,662 6.1

$10,000,000 to $50,000,000............ 77.0 130,140 16.4

$50,000,000 to $100,000,000.......... 186 158 84.9 63,204 8.0

More than $100,000,000................. 213 197 92.5 501,297 63.3

1 Reserves for bad-debt losses on loans, set up in accordance with Section 23(K)1 of the Internal

Revenue Code; these comprise the major portion of total valuation reserves for loans, which totaled

$903,935,000 on December 31, 1952.

* Components do not add to total because of rounding.

8 Less than 0.05 percent.

Net profits. The substantial increase in net current operating earnings 

in 1952, along with relative stability in net charge-offs on assets, lifted 

net profits before income taxes to a record $1,685 million. Of this amount, 

income taxes absorbed $695 million, leaving net profits after taxes of 

$990 million.

The higher level of net profits before income taxes in 1952 resulted 

in both a larger tax base and a higher average rate of income tax, as a 

consequence of which income taxes rose by 24 percent over those of 

1951. Notwithstanding this sharp advance in income taxes, net profits 

after taxes were 9 percent greater than in 1951, and higher than in any 

previous year. Net profits after taxes in 1952 were equal to 8.07 percent 

of total capital accounts.

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48 FEDERAL DEPOSIT INSURANCE CORPORATION

As in previous years, the rates of net profit varied considerably among 

different geographical areas and among banks of different size groups. 

Of the 13 States, including the District of Columbia, with rates of net 

profit below 8.0 percent, all except Wisconsin and New Mexico were 

in the Northeast section of the United States. At the same time, all 

but one of the 10 States with rates of net profit of 10 percent or more 

were west of the Mississippi river. Average rates of net profit of banks 

in the various States are presented in Chart I.

C h a r t I . R a t e s o f N e t P r o f i t s A f t e r T a x e s o n T o t a l C a p it a l A c c o u n ts ,

In su r e d C o m m erc ia l B a n k s, 1952

UNITED STATES AVERAGE 8.1%

The rate of net profit on total capital accounts varied only moderately 

among banks grouped by size. Relatively small banks, but not the 

smallest, averaged the highest rate, or 9.57 percent. Banks in the smallest 

and the largest size groups averaged the lowest rates, 7.60 and 7.64 

percent respectively. Rates of net profit in banks grouped by amount 

of deposits are shown in Chart J.

Disposition of net profits. For the tenth consecutive year dividend 

payments increased, reaching a total of $442 million in 1952. This distribution was 45 percent of net profits after taxes, about the same proportion as in 1951, and within the range of 40 to 46 percent thus distributed 

in every year since 1947. Dividends in 1952 were equal to 3.60 percent 

of total capital accounts, similar to other recent years.

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INCOME OF INSURED COMMERCIAL BANKS 49

The proportion of net profits distributed to stockholders varied among 

banks in the different size groups. Each of the groups of banks with 

deposits of less than $10 million paid out about one-third of net profits 

after taxes. In the larger size groups the proportion of net profits thus 

distributed advanced with increases in size of bank, and averaged over 

one-half among banks with deposits of more than $100 million. The 

rate of dividends on total capital accounts varied accordingly, as shown 

in Chart J, modified only by the moderate differences in rates of net 

profit among the different size groups of banks. Because of concentrated 

ownership and tax considerations, smaller banks usually disburse a 

smaller proportion of their profits in the form of dividends than do 

larger banks.

C h a r t J . R a t e s o f N e t P r o f i t an d C a sh D iv id e n d s,

In s u r e d C o m m erc ia l B a n k s, 1952

Profits not distributed to stockholders are, of course, retained in 

capital accounts. The disbursement of 45 percent of net profits in 1952 

meant that 55 percent was held as additions to capital. The retention 

of profits has for many years been the principal source of growth in 

bank capital.

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50 FEDERAL DEPOSIT INSURANCE CORPORATION

M u t u a l Sa y in g s B a n k s

Mutual savings banks are organized on a cooperative basis, without 

capital stock, according to the applicable laws of the States in which 

they operate. Earnings resulting from their operation are distributed to 

depositors in the form of dividends or retained in surplus.

C h a r t K . P e r c e n t a g e s o f T o t a l D e p o sit s a n d T im e D e p o sit s o f A l l B a n k s

H e ld b y M u t u a l Sa v in g s B a n k s , D e c e m b e r 31, 1952

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MUTUAL SAVINGS BANKS 51

Nearly all of the deposits of mutual savings banks are savings and 

time deposits, and their loans and investments consist largely of longterm obligations. Mutual savings banks comprise less than 4 percent of 

all banks in the United States; but they hold almost 12 percent of total 

bank deposits and 35 percent of savings and time deposits.

There is a marked geographical concentration of mutual savings 

banks, all but 28 of the 529 banks being located in nine northeastern 

States. Within this area the savings banks hold a substantial proportion 

of total bank deposits. In the New England States and in New York 

State one-fourth to one-half of all bank deposits, and one-half to over 

three-fourths of all savings and time deposits, are in mutual savings 

banks. The percentages of bank deposits held by mutual savings banks 

in the 17 States having such banks are shown in Chart K.

Assets and deposits of all mutual savings banks. Deposits of 

all mutual savings banks totaled almost $23 billion at the end of 1952, 

and their surplus accounts exceeded $2 billion. Real estate loans of over 

$11 billion, and United States Government obligations of over $9 billion, 

constituted the main uses of these funds. Other securities totaling $3 

billion and cash of nearly $1 billion comprised most of the remaining 

assets. Assets and liabilities of all mutual savings banks in the United 

States from December 31, 1946, to December 31, 1952, are presented 

in Table 29.

Table 29. A sse ts a n d L ia b il it ie s , M u t u a l Sa v in g s B a n k s ,

D e c e m b e r 31, 1946-1952

(Amounts in millions)

Asset, liability, or capital

account item 1952 1951 1950 1949 1948 1947 1946

Total assets........................ $25,233 $23,439 $22,385 $21,493 $20,474 $19,714 $18,704

Cash and funds due from

banks............................. 918 886 797 873 878 886 818

U. S. Govt, obligations.

Obligations of States and

9,422 9,819 10,868 11,428 11,476 11,979 11,778

subdivisions.................. 325 147 88 86 71 65 61

Other securities...............

Real estate and other

2,906 2,432 2,253 2,308 2,162 1,653 1,339

loans— net..................... 11,349 9,862 8,137 6,578 5,686 4,944 4,527

Miscellaneous assets. . . . 313 293 242 220 201 187 181

Total liabilities and

surplus accounts. .. $25,233 $23,439 $22,385 $21,493 $20,474 $19,714 $18,704

Total deposits.................. 22,621 20,915 20,032 19,293 18,405 17,763 16,869

Miscellaneous liabilities. 133 117 106 78 70 62 51

Surplus accounts............. 2,479 2,407 2,247 2,122 1,999 1,889 1,784

Number of banks................ 529 529 529 531 532 533 5411

1 Includes 8 guaranty savings banks in New Hampshire.

Detailed data for 1952: See Table 107, pp. 104-05.

The increase in deposits since 1946 has been invested principally 

in real estate loans. In the 6-year period ending with 1952 these loans

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52 FEDERAL DEPOSIT INSURANCE CORPORATION

advanced 150 percent. Securities other than United States Government 

obligations increased almost as much, or by 131 percent. Holdings of 

United States Government obligations declined 20 percent.

Insured mutual savings banks. Four additional mutual savings 

banks became insured in 1952, raising to 206 the number insured by the 

Federal Deposit Insurance Corporation. Two of the newly insured banks 

are in Rhode Island, and one each in Maine and Delaware. At the end 

of the year 39 percent of all mutual savings banks were insured by the 

Federal Deposit Insurance Corporation. These held 74 percent of the 

deposits of all mutual savings banks.

The proportion of mutual savings banks insured by the Corporation 

varies widely among the States, as shown in Table 30. The extremes are 

New York and Massachusetts. All of the 130 mutual savings banks in 

New York State are insured, while none of the 188 in Massachusetts 

is insured.

Table 30. N u m b e r an d D e p o s its , In s u r e d an d N o n in s u r e d

M u t u a l S a v in g s B a n k s, b y S t a t e , D e c e m b e r 31, 1952

Number of banks Deposits (in millions)

Percentage

of

banks

insured

Percentage

of deposits

held by

insured

banks

State

Total Insured Noninsured Total Insured

banks

Noninsured

banks

T otal....................... 529 206 323 $22,621

261

$16,785

40

$5,836

221

38.9%

25.0

74.2%

.................. 32 8 24 15.3Maine

New Hampshire.

Vermont.............

34 34 308 308

7 7 94 94 100.0 100.0

Massachusetts .. 188 188 3,615

296

1,489

3,615

154

1,408

Rhode Island . . .

Connecticut. . . .

8

72

5

4

3

68

00 if*.

62.5

5.6

47.9

5.5

New York......... 130 130 13,279

753

13,279

753

100.0 100.0

New Jersey....

Pennsylvania. . .

Delaware............

23 23 100.0 100.0

7 7 1,222

96

1,222 100.0 100.0

2 1 1 21 75 50.0 21.8

Maryland........... 9 6 3 426 385 41 66.7 90.3

Ohio..................... 3 3 263 263 100.0 100.0

Indiana............... 4 3 1 50 36 14 75.0 72.8

Wisconsin........... 4 3 1 16 16 Q) 75.0 97.4

Minnesota.......... 1 1 191 191 100.0 100.0

Oregon................. 1 1 24 24 100.0 100.0

Washington........ 4 4 238 238 100.0 100.0

1 Less than|$500,000.

A substantial proportion of the assets of insured mutual savings banks 

are obligations of or guaranteed by the Federal Government. Almost 

three-fifths of the nearly $19 billion of assets of insured mutual savings 

banks were thus insured or guaranteed at the end of 1952. At that time 

the insured mutual savings banks had United States Government obligations totaling $6.6 billion, and real estate loans Federally insured or 

guaranteed aggregating $4.4 billion.

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MUTUAL SAVINGS BANKS 53

Deposits of insured mutual savings banks advanced 9 percent during 

1952 and at the year-end totaled nearly $17 billion. Only a small fraction 

of the growth was due to the increase by 4 in the number of such insured 

banks. Over 90 percent of the total deposits of insured mutual savings 

banks is in accounts which are fully insured by the Federal Deposit 

Insurance Corporation, due to the fact that few savings bank accounts 

exceed the $10,000 limitation.

I n c o m e o f I n s u r e d M u t u a l Sa v in g s B a n k s

Sources and disposition of income in 1952. Total income of 

insured mutual savings banks in 1952 was $626 million. As shown in 

Chart L, over one-half of this income was derived from real estate loans, 

and an additional one-fourth from interest on United States Government 

obligations. The pattern of income sources was thus broadly similar to 

that of commercial banks, except as to the nature of loans upon which 

income was received.

Chart L. S o u r c e s a n d D is p o s it io n o f T o t a l I n c o m e ,

I n s u r e d M u t u a l Sa v in g s B a n k s , 1952

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54 FEDERAL DEPOSIT INSURANCE CORPORATION

The disposition of income by mutual savings banks differed greatly 

from that of commercial banks. Three-fifths of the income of mutual 

savings banks was paid out to depositors as dividends. Salaries and 

wages absorbed only about one-tenth, and other current expenses an 

additional one-tenth, of mutual savings bank income. Differences between 

these proportions and those for commercial banks reflect primarily 

differences in the nature of business carried on by the two kinds of 

institutions.

Comparisons with 1951. Changes in classification and treatment of 

mutual savings bank earnings data which were introduced in the new 

report form of 1951 preclude comparisons with prior years. Table 31, 

therefore, presents comparative data only for the past two years, and 

percentage changes from 1951 to 1952. Total income declined three 

percent despite an 11 percent rise in current operating income, due 

principally to a decline in transfers from valuation adjustment provisions. In the disposition of total income the most marked differences 

between 1951 and 1952 were an increase in dividends to depositors and 

a consequent decrease in additions to surplus.

Table 31. S o u r c e s a n d D is p o s it io n of T o t a l I n c o m e ,

I n s u r e d M u t u a l Sa v in g s B a n k s , 1951-1952

(Amounts in millions)

Item

Amount

Percentage

change

1952 1951

Total income......................................................................................... $626 $643 - 2.6%

Sources

Current operating income................................................................

Real estate mortgage loans.............................................................

U.S. Government obligations........................................................

568

S27

16k

514

279

171

10.5

17.2

-k .l

Other securities................................................................................. 63 50 26.0

Other current income....................................................................... lk lk

Other income....................................................................................... 58 129 -55.0

Nonrecurring income...................................................................... 15 21 -28.6

Realized profits and recoveries1..................................................... 6 12 -50.0

Transfers from valuation adjustment provisions....................... 37 96 -61.5

Disposition

Current operating expenses.............................................................. 117 107 9.3

Wages and salaries.......................................................................... 60 56 7.1

Other current expenses.................................................................... 57 51 11.8

State franchise or income taxes...................................................... 9 6 50.0

Dividends and interest on deposits................................................ 365 282 29.4

Other expenses.................................................................................... 84 125 -32.8

Nonrecurring expenses.................................................................... 2k 25 -k.o

Realized losses1................................................................................. 26 26

Transfers to valuation adjustment provisions............................. 3k

51

7k

123

-5k-l

Net addition to surplus from operations...................................... -58.5

1 Excludes recoveries credited and realized losses charged to valuation adjustment provisions.

Detailed data for 1952: See Table 117, p. 136.

Income from loans. At a time when interest rates were rising and 

the average rate of income on loans held by insured commercial banks 

was advancing, the rate of return on loans of insured mutual savings

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INCOME OF INSURED MUTUAL SAVINGS BANKS 55

banks declined slightly. The average rate on real estate loans, in which 

mutual savings banks specialize, was 4.08 percent during 1952, compared 

to 4.13 percent during 1951. One reason for this decline, at a time when 

interest rates were generally rising, was a shift in the composition of 

mutual savings bank mortgage portfolios toward a larger proportion 

of Federally insured or guaranteed loans, which ordinarily bear lower 

interest rates than conventional real estate loans. At the end of 1951 

residential real estate loans insured or guaranteed by the Veterans’ 

Administration or the Federal Housing Administration constituted 

45 percent of all real estate loans of insured mutual savings banks, but 

at the end of 1952 were 50 percent of the total. This shift in proportions 

came about not through a decline in the amount of conventional real 

estate loans, but through a larger increase in holdings of insured or 

guaranteed real estate loans.

Compensation of employees. The average compensation of mutual 

savings bank officers in 1952 was $10,925, and of other employees $3,495. 

These represented increases over the averages for 1951 of 4 percent and 

7 percent, respectively. In addition the banks set aside or paid out as 

pensions, social security taxes, and other benefits to officers and employees an average of $789. The average salaries are higher than those 

reported for insured commercial banks, due largely to the geographical 

concentration of insured mutual savings banks in higher wage areas, but 

also to differences in the average size of banks, the nature of work done, 

and in the method of reporting the number of part-time employees.

Dividends and additions to surplus accounts. Dividends to 

depositors were 29 percent greater than in 1951. This larger distribution 

was due in part to the fact that mutual savings banks were for the first 

time subject to Federal income taxes. The tax applies to the undistributed 

earnings of mutual savings banks which have a ratio of capital funds to 

total deposits exceeding 12 percent. The average rate of dividends paid 

on deposits advanced from 1.88 percent in 1951 to 2.27 percent in 1952, 

and was about twice the average rate of interest paid on savings and 

time deposits by the insured commercial banks. The relatively large 

disbursement of earnings and dividends reduced by more than half, as 

compared to 1951, the proportion of total income credited to surplus. 

With the growth in assets, this resulted in a decline during the year in 

the ratio of surplus accounts to total assets from 9.8 percent to 9.3 

percent.

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PART THREE

INSURANCE OF BANK OBLIGATIONS PRIOR

TO FEDERAL DEPOSIT INSURANCE

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The roots of Federal deposit insurance lie deep in America's banking 

history. At the time of its adoption in 1933, insurance of bank obligations 

had a legislative history in the Congress reaching back to 1886 and a 

record of State experiments extending back to 1829. An analysis of 

Congressional proposals was published two years ago.1 The objectives 

and character of State systems adopted prior to 1933 are described here.

Studies of the operations of the various State systems are in progress. 

Particular attention is being paid to the quality of supervision of the 

insured banks, adequacy of the insurance funds, and the impact of 

changes in business conditions upon the operations of the systems. It 

is planned to make the results of these studies available when they are 

completed.

Purpose o f State insurance plans. Among the various motives 

which led States to make use of the insurance principle for the protection 

of bank depositors and noteholders, there were two which were of importance: to protect the community from severe fluctuations of the 

circulating medium occasioned by waves of bank failures; and to guard 

against loss to individual depositors and noteholders, particularly those 

of small means. The available evidence indicates that the first of these, 

concern with the circulating medium as such, predominated.

Credit for the idea of insurance of bank obligations is given to Joshua 

Forman of New York. Writing in 1829, when bank-supplied circulating 

medium was largely in the form of banknotes rather than deposits, he 

argued as follows: . . they [the banks] enjoy in common the exclusive 

right of making a paper currency for the people of the State and by the 

same rule should in common be answerable for that paper.” 2 Nearly 

a century later, the Supreme Court of the United States, in upholding 

the constitutionality of deposit insurance laws in Oklahoma, Kansas, 

and Nebraska, defined the purpose of insurance of bank obligations by 

the States. In a unanimous opinion, rendered in 1911, both of the purposes described earlier were noted but protection of the circulating 

medium was clearly given major emphasis. Justice Holmes said:

It may be said in a general way that the police power extends to 

all the great public needs. It may be put forth in aid of what is sanctioned by usage, or held by the prevailing morality or strong and 

preponderant opinion to be greatly and immediately necessary to 

the public welfare. Among matters of that sort probably few would 

doubt that both usage and preponderant opinion give their sanction 

to enforcing the primary conditions of successful commerce. One of

1 Annual Report of the Federal Deposit Insurance Corporation for 1950, pp. 68-101.

* Assembly Journal, New York State, 1829, p. 179.

S t a t e S y s t e m s o f B a n k -O b l i g a t i o n I n s u r a n c e

59

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60 FEDERAL DEPOSIT INSURANCE CORPORATION

those conditions at the present time is the possibility of payment by 

checks drawn against bank deposits, to such an extent do checks 

replace currency in daily business . . . the primary object of the 

required assessment is not a private benefit . . . but . . . is to make 

the currency of checks secure, and by the same stroke to make safe 

the almost compulsory resort of depositors to banks as the only available means for keeping money on hand.1

Adoption o f insurance systems. The insurance of bank obligations 

among the States occurred during two periods, over forty years apart. 

The first began in 1829 with the adoption of an insurance plan by New 

York. During the next three decades another eastern State and four 

western States followed New York’s lead. The last of these systems 

came to a close in 1866 when the great majority of State chartered banks 

became national banks.

Insurance of bank obligations was not attempted again by the States 

until 1907 when Oklahoma provided for the establishment of a deposit 

guaranty fund. Similar funds were established in seven other States 

during the following decade. By 1930 all eight had become insolvent 

or inoperative, as a consequence of large numbers of bank failures or of 

relatively high incidence of failures among the larger insured banks.

The fourteen States which adopted insurance systems between 1829 

and 1917, and the length of time each system operated, are shown in 

Table 32. In the majority of cases the systems eventually proved unworkable. However, several enjoyed a moderate degree of success during 

their entire period of operation; and three, in Indiana, Ohio, and Iowa, 

were highly successful.

I n s u r a n c e o f B a n k O b l ig a t io n s in Si x S t a t e s , 1829-1866

The bank-obligation insurance plans operating prior to 1866 differed 

substantially from those of the later period. This was a consequence 

both of the characteristics of banking during this earlier period and the 

fact that the plans were experimental procedures in providing protection 

for bank creditors.

Approximately one-half of the nation’s bank-supplied circulating 

medium before 1860 was composed of the notes issued by individual 

banks. This was because banks commonly extended credit in the form 

of circulating notes rather than deposits, particularly in the less developed 

areas of the country. For example, in 1838 note circulation of safety-fund 

banks in Michigan was more than three times their deposits, whereas 

in New York City the banks’ deposits exceeded their banknotes by 

about the same extent.

i Noble State Bank v. Haskell (1911), 219 U. S. 111.

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INSURANCE OF BANK OBLIGATIONS IN SIX STATES 61

Table 32. S t a t e In s u r a n c e System s f o r t h e P r o t e c t io n

o f B a n k C r e d it o r s P r io r t o 1933

State

Date of passage

of law

Period of

operation1

Adopted from 1829 to 1858

New York April 2, 1829 1829-1866

Vermont November 9, 1831 1831-1866

Indiana January 28, 18342 1834-1866

Michigan March 28, 1836 1836-1842

Ohio February 24, 1845* 1845-1866

Iowa March 20, 1858 1858-1865

Adopted from 1907 to 1917

Oklahoma December 17, 1907 1908-1921

Kansas March 6, 1909 1909-1926

Nebraska March 25, 19094 1911-1930

Texas May 12, 1909 1910-1925

Mississippi March 9, 1914 1914-1930

South Dakota March 5, 1915 1915-1925

North Dakota March 10, 1917 1917-1929

Washington March 10, 1917 1917-1921

1 In a number of cases the law was repealed subsequent to the terminal date shown above. In some

of the first six States closing dates may have preceded date shown by one year.

2 Indiana’s insurance system was included in the act establishing the State Bank of Indiana, the

charter of which expired January 1, 1857. The same insurance system was included in the March 3,

1855, act establishing the successor institution, the Bank of the State of Indiana.

8 An insurance system was provided for in an act of March 7, 1842; however, no banks were organized under the law and it was repealed in 1845.

* A permanent injunction preventing the State banking board from putting the law into operation

was not dissolved until January 3, 1911, when the United States Supreme Court ruled the Oklahoma,

Kansas, and Nebraska laws constitutional.

Another difference related to the function of bank capital. In addition 

to serving as ultimate security for the protection of bank creditors, bank 

capital was more extensively used as a tool for the limitation of bank 

operations than is the case today. In the early decades of the nineteenth 

century restrictions as to the amount of bank lending, or the creation of 

obligations, were often expressed in terms of multiples of capital rather 

than, as at present, in terms of required reserves against deposits.

Table 33 summarizes the provisions of each of the six plans which 

operated prior to establishment of the national banking system.

Obligations insured. In the first four plans adopted, all debts of 

the participating banks, i.e., circulating notes and deposits primarily, 

were covered by insurance. In New York insurance was later restricted 

to circulating notes and this same restriction was also provided for in 

the last two plans adopted. However, in none of the six State plans was 

there any limitation within the framework of obligations insured on 

the amount of insurance provided the individual bank creditor.

Limitation of insurance to circulating notes in the three States reflected 

a then current, but by no means universal, belief that banks affected the 

circulating medium only through the issuance of banknotes. Also, there 

was the feeling that depositors could “ choose” their banks, whereas 

noteholders, who were commonly persons of modest means, frequently 

had no choice but to receive the banknotes.

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62 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 33. P r in c ip a l P r o v is io n s of B a n k -O b l ig a t io n I n s u r a n c e

P l a n s A d o p te d b y Si x S t a t e s , 1829-1858

State Obligations insured Banks participating

New York 1829-42, all debts*

1842-66, circulating notes2

All banks established or rechartered

subsequent to passage of act3

Vermont All debts1 All banks established or rechartered

subsequent to passage of act4

ndiana All debts1 Branch Banks6

Michigan All debts1 All banks established or rechartered

subsequent to passage of act

Ohio Circulating notes Branch Banks6

Iowa Circulating notes Branch Banks6

1 Included circulating notes, deposits, and miscellaneous liabilities; excluded capital accounts.

2 Act of April 12, 1842.

3 Free Banks, which were authorized in 1838, did not participate in insurance.

Membership. Most of the insurance plans adopted during the early 

period were intended to include, immediately or eventually, all operating 

banks. In New York, Vermont, and Michigan the law applied to all 

banks to be formed subsequent to the act, with provision that existing 

banks must join at the time their charters were extended or renewed. 

Michigan went even further and specifically provided what may have 

been intended in the earlier plans: that existing banks could join at their 

option prior to a renewal or extension of their charter.

In Indiana, Ohio, and Iowa all Branch Banks of State Bank systems 

were included in the insurance plans. These Branch Banks were not 

similar to modern institutions of the same designation but, instead, were 

independent banks supervised by an agency called the State Bank. Since 

the Indiana constitution originally restricted banking to Branch Banks 

there was full participation during the first eighteen years of the plan’s 

operation in that State. Branch Banks in Ohio and Iowa were not given 

monopoly rights, although no competing banks were formed in Iowa 

during the period the insurance plan was in operation.

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INSURANCE OF BANK OBLIGATIONS IN SIX STATES 63

T ab le 33. P r in c ip a l P r o v is io n s o f B a n k -O b lig a tio n In s u r a n c e

P la n s A d o p ted b y S ix S t a t e s , 1829-1858— Continued

Assessments; size of fund Payment of bank creditors

Annually 1/2 of 1% of capital stock to maximum

of 3% . If fund reduced, annual assessment not

to exceed above rate until fund restored to

maximum

Annually 3/4 of 1% of capital stock to maximum

of 4-1/2%. If fund reduced, annual assessments not to exceed above rate until fund

restored to maximum

No specific amount; special assessments as

necessary

Annually 1/2 of 1% of capital stock to maximum

of 3% . If fund reduced annual assessments not

to exceed above rate until fund restored to

maximum

Single assessment prior to opening of bank: 10%

of amount of circulating notes. Thereafter

assessments at above rate applicable only to

additional circulating notes, if any, issued by

bank

Single assessment prior to opening of bank:

12-1/2% of amount of circulating notes. Thereafter assessments at above rate applicable only

to additional circulating notes, if any, issued

by bank

After completion of liquidation of failed bank

After completion of liquidation of failed bank

Within one year after failure, if liquidation proceeds and stockholder contributions insufficient

After completion of liquidation of failed bank

Immediately, through special assessments on

solvent Branch Banks. Assessments to be

repaid from insurance fund, and fund repaid

from proceeds of liquidation of assets of failed

bank

Immediately, through special assessments on

solvent Branch Banks. Assessments to be

repaid from insurance fund and fund repaid

from proceeds of liquidation of assets of failed

bank

4 Free banks, which were authorized in 1851, did not participate in insurance. In 1842 participating

banks were authorized under specified conditions to withdraw from insurance.

5 Branch Banks were essentially independent banks which possessed their own officers, distributed

earnings to their own stockholders, and which collectively constituted the “State Bank” in these States.

With the appearance of “ Free Banking” , which provided bond security 

for circulating notes, the original intent of including all banks in the 

insurance systems was dropped. Free Banks authorized in New York 

in 1838, in Ohio and Vermont in 1851, in Indiana in 1852, and in Iowa in 

1858, were not included in the respective insurance systems. Only 

Michigan, which adopted New York’s free banking law in 1837, before 

it had passed the New York legislature and while inclusion of Free Banks 

in the insurance system was still being considered, specifically required 

that the new banks become part of the insurance system.

Table 34 shows the maximum number of banks participating in 

insurance in each of the six States and the obligations insured at such 

times. It will be noted that the proportion of banks insured ranged from 

a little more than 50 percent in two States to 100 percent in one State. 

Percentagewise, participation was higher during earlier years in some 

States, since it was not until after the appearance of Free Banks that the 

number of insured banks reached a maximum.

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64 FEDERAL DEPOSIT INSURANCE CORPORATION

T ab le 34. M axim u m N umber of Ba nks Participating in

I nsurance System s, Six States, 1829-1866

State

Year or years

during which

number of

participating

banks was at

a maximum

Participating banks

Obligations insured at or

near time of maximum

participation1

Number Percent of

all banks2

Amount

(in

thousands)

Percent of

all such

obligations

New York................. 1840 91 57.2% $32,346 72.8%

Vermont.................. 1841-48 13 72.23 1,936s 69.9

Indiana...................... 1857-64 204 52.65 7,816s 78.2

Michigan................... 1837 476 83.9 1,4037 59.0

Ohio........................... 1850 41 71.9 8,407 76.0

Iowa........................... 1864 15 100.0 1,440 100.0

1 New York, Vermont, Michigan and Indiana, circulating notes plus deposits: Ohio and Iowa,

circulating notes only. See note 7 for explanation of Michigan data.

3 Excludes private banks.

3 Data as of August 1847.

4 Branch Banks of Bank of State of Indiana. Branch Banks of State Bank of Indiana, 1834-1856,

numbered 13 at maximum, all of which were insured.

5 Data for November 15, 1862. Deposits include individual and interbank deposits plus certificates

of deposit.

6 Estimated number in operation near end of year.

7 Circulating notes only (estimated). Deposit information not sufficiently complete for estimation.

Types o f insurance systems. Insurance of bank obligations during 

this period was provided by three methods: 1) establishment of an 

insurance fund, commonly referred to at the time as a “ Safety Fund” , 

2) a requirement that insured banks mutually guarantee each other’s 

obligations, and 3) a combination of the first and second. Reliance upon 

an insurance fund alone was the case in New York, Vermont, and Michigan. As indicated in Table 33, the fund was established through assessments levied on capital stock of participating banks, reflecting the 

relationship between capital and bank obligations previously noted. 

Expenses incurred in administering the insurance systems, including 

salaries and expenses of Bank Commissioners, were charged against 

the funds.

While New York’s insurance system was spreading to Vermont and 

Michigan, Indiana developed an alternative plan in 1834. It required 

that all participating banks mutually guarantee the liabilities of a failed 

insured bank. This obligation became effective when a failure occurred, 

and no provision was made for an insurance fund.

Insurance systems adopted by Ohio in 1845 and Iowa in 1858 apparently reflected a conscious desire to incorporate the essential portions 

of the two types, with major reliance on the Indiana precedent. As 

shown in Table 33, protection for bank creditors in Ohio and Iowa rested 

essentially upon the mutual guaranty provision, w^ith the insurance fund 

available for reimbursement of the contributing banks. This was probably 

due in part to the fact that Indiana’s system had proved highly successful 

by 1845, while difficulties had been encountered in New York, and in 

Michigan the fund had been exhausted.

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INSURANCE OF BANK OBLIGATIONS IN SIX STATES 65

The method of meeting expenses connected with administration of 

the Ohio and Iowa systems also followed that of Indiana, in that it was 

accomplished through special assessments on insured banks rather than 

through charges on the fund. In each of the five States having insurance 

funds, custody of the fund was given to the supervising authority, but 

ownership, directly or indirectly, remained with the banks.

Method of paying creditors of failed banks. Immediate payment 

of insured obligations was effectively provided for in only two of the 

six States during this period. The systems of Ohio and Iowa provided 

that the necessary funds would be made immediately available through 

special assessments levied on the sound participating banks in proportion 

to their note circulation.

This represented an improvement over systems adopted earlier. In 

New York, Vermont, and Michigan, creditors had to wait until liquidation of the failed bank had been completed, and the deficiency determined, 

before receiving payment from the insurance fund. Indiana required 

that its insurance plan become operative if liquidation of the assets of 

the failed bank proved insufficient to meet the claims of bank creditors 

within one year.

Termination of the insurance funds. Five of the six State insurance systems in operation during this first period terminated in 1866 

when most of the participating banks voluntarily converted to national 

banks. This action did not stem from dissatisfaction with the insurance 

systems, some of which had been highly successful, but rather from the 

fact that in 1865 a prohibitive tax upon State banknotes was levied 

by the Congress. In the sixth State, Michigan, the insurance system 

terminated about 1842 as a consequence of exhaustion of the fund.

G u a r a n t y o f C ir c u l a t in g B a n k n o t e s

b y t h e F e d e r a l G o v e r n m e n t

Although the majority of insurance systems adopted before 1860 had 

proved successful, almost a half century passed before insurance of bank 

obligations was again attempted by any State. This was not due to a 

decline in interest by the States in securing a stable and safe circulating 

medium, but rather to the fact that in 1863 the Federal Government 

acted to provide this protection through establishment of the national 

banking system.

As noted previously, circulating notes issued by individual banks 

constituted an important portion of the circulating medium at that time. 

When, in 1865, Congress placed a prohibitive tax upon the notes of State 

banks, those of national banks remained the only circulating banknotes. 

These notes were guaranteed by the United States Treasury and their

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66 FEDERAL DEPOSIT INSURANCE CORPORATION

safety was unquestioned. Consequently, so long as they maintained 

their relative importance in the circulating medium there seemed to be 

no necessity for further development of insurance of bank obligations.

The national banking system was essentially an extension on a national 

scale of the free banking systems established earlier in many States. 

That is, subject to certain restrictions, banking was open to all persons 

who qualified under the law and note issues were secured by the posting 

of collateral, in this case United States bonds. However, one important 

difference between the State systems and that adopted by the Federal 

Government was that the primary guaranty for the notes was the credit 

of the Government rather than the value of the posted collateral.

Holders of notes of a failed national bank were to be paid immediately 

and in full by the United States Treasury regardless of the then existing 

value of the bonds posted and whether or not any difficulty was encountered in disposing of the bonds.1 As the Comptroller of the Currency 

stated in his first report to Congress:

If the banks fail, and the bonds of the government are depressed 

in the market, the notes of the national banks must still be redeemed 

in full at the treasury of the United States. The holder has not only 

the public securities but the faith of the nation pledged for their 

redemption.2

I n s u r a n c e o f B a n k D e p o sit s i n E ig h t S t a t e s , 1907-1930

It was apparently not foreseen early in the 1860’s that deposits, rather 

than circulating notes, would come to constitute by far the largest portion 

of the nation’s circulating medium. In 1860 the two items were about 

equal in amount. By 1870 deposits were about twice, and by the end of 

the century seven times, circulating notes. It was against this setting 

that efforts were renewed to guard against the disastrous effects of the 

destruction of circulating medium through bank failures and to provide 

a greater degree of protection for bank creditors.

The adoption of State deposit insurance programs between 1907 and 

1917 was also a consequence of difficulties many of the States were meeting 

in attempting to provide for stable banking systems. It will be noted in 

Table 32 that seven of the eight States involved were located west of 

the Mississippi River. Problems similar to those of New York, Vermont, 

and Ohio a half century earlier were current. Consequently it is not 

surprising that State legislators turned to insurance of bank obligations, 

although in this instance insurance related only to bank deposits. Table 

35 summarizes the principal provisions of the plans adopted by the 

eight States.

1 12 Stat. 672.

* First Annual Report of the Comptroller of the Currency, November 28, 1863.

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INSURANCE OF BANK DEPOSITS IN EIGHT STATES 67

Obligations insured. Insurance protection in the eight States did 

not extend to obligations of the banks other than deposits. The typical 

provision inserted in the laws to prevent such an application of the 

insurance fund was a statement that the law would not apply to a bank’s 

obligation as an endorser upon bills re-discounted, nor to bills payable, 

nor to money borrowed by the bank. In all of the States, however, it 

proved difficult to distinguish borrowings from deposits, and numerous 

cases were brought before the courts for decision.

In seven of the eight States full coverage was provided for the individual depositor from the beginning. In the eighth, Kansas, the law 

as first passed provided 100 percent coverage for demand deposits but 

applied to savings deposits only up to $100 per person. This limitation 

was removed two years later.

Demand deposits otherwise unsecured were covered by the insurance 

systems in all eight States. Time and savings deposits otherwise unsecured 

were covered in whole in five States—Oklahoma, Nebraska, Mississippi, 

South Dakota and North Dakota, and also in Kansas after the first two 

years. In Texas, the guaranty was limited to non-interest-bearing deposits. In Washington the guaranty law applied to all deposits in commercial banks, but did not apply to mutual savings banks. At the time 

there was one such bank, holding about one-sixth of the savings deposits 

of all banks organized under the State laws.

Protection of time and savings deposits was accompanied in all cases 

by limitations on the rate of interest, with deposits bearing interest at 

rates higher than those prescribed barred from guaranty. In most cases 

the limits to the rate of interest were to be prescribed by the banking 

supervisor or guaranty commission, with the proviso that the rate 

established must be uniform within any one county.

Membership. In two States, Kansas and Washington, membership 

in the guaranty plan was voluntary, in the remaining six States compulsory. In Mississippi, however, the plan was voluntary during the 

first year; and in Texas the banks had the option of joining the guaranty 

fund or of depositing bonds or other securities with the Commissioner 

of Insurance and Banking.

Banks were generally required to undergo special examinations prior 

to admission, presumably with the intention, except in the two States 

with voluntary membership, of forcing weak banks to liquidate or to 

improve their financial condition. For the most part, however, these 

examinations appear to have been perfunctory. Except in Mississippi, 

inadequate time was allowed for making examinations; and supervisory 

officials doubtless were reluctant to close banks which they had previously permitted to remain in operation.

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68 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 35. P r in c ip a l P ro v isio n s o f D e p o s it In s u r a n c e

P la n s A d o p ted by E ig h t S t a t e s , 1907-1917

State Deposits insured Banks participating1

Oklahoma

Act of 19083

as amended or

modified 1909,

1911, 1913

All deposits not otherwise secured and on

which rate of interest was within limits

specified by law

Compulsory for all State banks

and trust companies

Kansas

Act of 1909

as amended or

modified 1911,

1921, 1923

All deposits not otherwise secured and on

which rate of interest was within limits

specified by law

Voluntary for all incorporated

State banks. Trust companies and private banks

excluded. Banks organized

after passage of Act eligible

to apply after operating one

year

Nebraska

Act of 1909

as amended or

modified 1911

All deposits except money deposited on a

collateral agreement or condition other

than an agreement for length of time to

maturity and rate of interest

Compulsory for all incorporated State banks

Texas

Act of 1909

as amended

or modified

1921, 1923

Non-interest-bearing deposits not otherwise

secured. Excluded public deposits, secured

deposits, certificates of deposit, deposits

made for the purpose of converting a loan

into a deposit covered by the fund, certificates of deposit converted to non-interestbearing deposits within 90 days of failure

All State chartered banks required to choose between

guaranty fund system or

bond security system

Mississippi

Act of 1914

All deposits not otherwise secured nor

bearing interest exceeding 4% per annum

Voluntary until May 15, 1915.

Thereafter compulsory for

all banks operating under

State law including trust

companies and savings banks

South Dakota

Act of 1915

as amended or

modified 1921

All deposits not otherwise secured. Deposits

could not pay interest in excess of 5%

unless authorized by depositors guaranty

fund commission and in no case, more

than 5-1/2 % per annum

Compulsory for all State and

private banks

North Dakota

Act of 1917

as amended

or modified 1923

All deposits not otherwise secured and on

which interest was within limits specified

by law

Compulsory for every corporation in business of receiving

deposits or buying and selling exchange except national

banks

Washington

Act of 1917

as amended or

modified 1921

Deposits subject to check or other forms of

withdrawal and not otherwise secured.

Payment of interest at rates higher than

authorized by guaranty fund board subjected bank to loss of insurance

Voluntary for all State banks

including trust companies

but excluding mutual savings banks

1 National banks were prohibited from participating in State insurance plans by ruling in July 1908

of Attorney General of the United States.

2 In terms of percentage of average daily insured deposits for preceding calendar year, unless otherwise noted. Excludes initial payments or contributions where applicable.

Table 36 shows the maximum number of banks participating in each 

of the eight insurance programs and the amount of deposits in insured 

banks at the time of such participation. Except in Oklahoma the number 

of insured banks reached a peak in the post-World War I boom years. 

Cessation of the rapid rate of growth in number of banks in the early 

1920*s coupled with an increasing number of bank failures and, in several 

States, withdrawals from the insurance system or conversions to national 

banks resulted in a decline in the number of insured banks beginning 

about 1921.

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INSURANCE OF BANK DEPOSITS IN EIGHT STATES 69

T ab le 35. P r in c ip a l P r o v isio n s o f D e p o s it In s u r a n c e

P la n s A d o p ted b y E ig h t S ta t e s , 1907-1917— Continued

Assessment on insured deposits2

Annually 1/5 of 1% until fund equaled 2% of

base. If fund reduced, special assessments^ t

same rate annually4

Annually 1/20 of 1% of base less capital and

surplus until fund equaled $1 million. If fund

reduced below $500,000 special assessment for

amount necessary

Payment of depositors

In cash by Bank Commissioners immediately

upon taking possession of bank. If fund insufficient, in 6 percent certificates of indebtedness to be paid in order of issue. After 1913

certificates sold at not less than par for purpose

of securing cash for depositors

In interest-bearing certificates of indebtedness,

reduced as proceeds of liquidation become

available. Deficiency, if any, paid from fund

Semi-annually 1/20 of 1% until fund equaled

1-1/2% of base. If fund reduced below 1%

assessment renewed and special assessments if

necessary not to exceed 1% of base in any

one year

Annually 1/4 of 1% of base until fund equaled

$5 million. If fund reduced below $2 million,

or below level of preceding January 1, special

assessments not to exceed 2%

In cash from fund immediately after determination by the court of amount due depositors less

cash immediately available to the receiver for

such payments

In cash immediately, out of cash in failed banks

and fund

Annually 1/20 of 1% of “average guaranteed

deposits” , less capital and surplus until fund

approximated $500,000 over and above initial

contribution. If fund depleted, special assessments at same rate not to exceed five in any

one year

Annually 1/4 of 1% until fund equaled 1-1/2%

of base. Resumed whenever fund reduced to

1% of base

Annually 1/20 of 1% until fund equaled 2% of

base. If fund reduced to 1-1/2% of base,

assessments resumed. Special assessments at

same rate at option of Bank Commissioners,

not to exceed four per year

Annually 1/10 of 1% until fund equaled 3% of

base. If fund reduced, special assessments not

to exceed 1/2 of 1% in any one year

In interest bearing certificates of indebtedness,

reduced as proceeds of liquidation become

available. Deficiency, if any, paid from fund

In cash immediately from fund. If fund deficient, Commissioner to issue certificates of

indebtedness at 5% and not to exceed 7% if

sold to secure cash for depositors

In cash from fund after certification of net

amounts due depositors. If fund deficient, in

certificates of indebtedness

In warrants on fund issued on proof of claim; if

fund deficient warrants to bear 5% interest

until paid

3 The banking laws of Oklahoma were codified, revised and re-enacted May 25, 1908, with little

change in guaranty law.

4 Special assessments in addition to regular annual assessment authorized 1914-1916.

None of the eight State deposit guaranty systems included national 

banks, though in five States the law authorized their participation. 

However, such provisions were inoperative as a consequence of a ruling 

by the Comptroller of the Currency in 1908 forbidding such action by 

national banks.

At the time of maximum participation, insured banks constituted 

more than half the banks in each of seven States and in five of these 

States were more than three-fourths of all banks. However, insured 

banks, on the average, were smaller than noninsured banks. This is

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70 FEDERAL DEPOSIT INSURANCE CORPORATION

reflected in Table 36 by the fact that in none of the States was the percentage of deposits held by insured banks as high as the proportion of 

banks participating in insurance.

Table 36. M axim um N u m b er o f B a n k s P a r tic ip a tin g in

D e p o s it In s u r a n c e , E ig h t S ta t e s , 1908-1930

State

Year during

which number

of participating

banks was

at a

maximum

Participating banks1

Deposits of participating banks

at or near time of

maximum participation1

Number Percent of

all banks2

Amount*

(in

thousands)

Percent of

deposits in

all banks

Oklahoma................. 1911 695 75.2% $ 61,309 50.7%

Kansas....................... 1922 714 52.0 185,989 43.3

Nebraska.................. 1921 1,011 84.3 272,256 57.8

Texas......................... 1921 1,014 58.1 319,346 32.6

Mississippi................ 1921 309 90.9 144,528 77.8

South Dakota.......... 1921 566 80.6 174,231 67.0

North Dakota......... 1920 720 80.6 151,531 66.4

Washington.............. 1921 116 29.1 74,859 19.5

1 For dates nearest beginning of indicated years.

2 All banks include national, State, and private banks, regardless of eligibility for insurance under

the various laws. Excludes trust companies not regularly engaged in deposit banking except for Oklahoma. Dates of data for various categories of uninsured banks used in computing percentages are not

identical in some instances with dates of insured bank data.

* Exceeds insured deposits because of inclusion of uninsured items described in Table 35.

Assessments and the insurance fund. There was considerable 

variation in the rate of assessment and in the size of the guaranty fund 

contemplated in the various States. The rates of regular and special 

assessments, as modified after a few years of operation in some of the 

States, are shown in Table 35. All rates are given in terms of percentages 

of the deposits covered by the law and in nearly all cases were computed 

on the average daily amount for the preceding calendar year. All eight 

States made special provision for initial assessments in the case of new 

banks, with the amount in most cases fixed at a small percentage of the 

capital stock, to be adjusted according to the average daily deposits 

after a year’s operation.

Two general methods of custody of funds were used: (1) Retention 

by the respective banks in the form of deposits subject to withdrawal by 

order of the administrative agency of the fund; and (2) collection by the 

administrative agency of the fund or the State treasurer, with funds not 

needed immediately to be invested along with other State funds or in 

accordance with special provisions. Details of carrying out these two 

general methods varied from State to State.

In Oklahoma the fund was at first collected by the Bank Commissioner, 

and in 1909 it was provided that 75 percent was to be invested in State 

warrants or other securities specified for State funds, the remaining 

25 percent to be kept in cash (that is, deposited in banks along with other

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INSURANCE OF BANK DEPOSITS IN EIGHT STATES 71

State funds). Two years later, after a large part of the fund had been 

tied up by the failure of the bank in which it was deposited, it was provided that the assessments were to be immediately re-deposited in the 

respective banks, with the banks issuing certificates of deposit to the 

Bank Commissioner bearing four percent interest. In 1913, the law was 

changed so that assessments were to be paid by cashier’s check to be 

held by the Banking Board until it was necessary to collect them. They 

were to bear no interest.

In Nebraska, South Dakota, and North Dakota, the assessments 

levied were left with the bank, subject to call of the guaranty commission 

on demand. In Texas 75 percent of the payments were to be held as 

demand deposits credited to the State Banking Board and subject to 

its check; the remaining 25 percent to be paid to the State Banking Board 

and deposited with the State treasurer.

In Kansas and Mississippi the assessments were to be paid to the 

State treasurer and placed in depository banks, subject, respectively, 

to the call of the Bank Commissioner and of the bank examiners. In 

Washington the board in charge of the fund was given broad powers in 

designating guaranteed banks as depositories of the fund.

Method of paying depositors. In two States, Kansas and Mississippi, 

the depositors in a failed bank, upon proof of claim to a deposit covered 

by the guaranty, were to be given interest-bearing certificates. As the 

assets of the failed bank were liquidated, dividends were paid on these 

certificates; and after these assets had all been collected, including the 

liability of stockholders, the balance was paid from the fund. These 

certificates in both States carried six percent interest, except that where 

a contract rate existed on the deposit the certificate bore interest at that 

rate. In Kansas the legislature passed a law in 1925 abolishing the interest, 

both on the certificates to be issued in the future and those then outstanding, but the State Supreme Court declared the elimination of 

interest on outstanding certificates to be unconstitutional. It was provided 

in Mississippi that if the fund were insufficient to pay the depositors, 

they were to be paid pro rata, and the remainder paid from subsequent 

assessments.

In the remaining six States it was contemplated that the depositors 

would be paid at once in cash. In Texas the law provided that any amount 

due depositors that could not be paid at once from the cash in the failed 

bank was to be paid from the fund. In Nebraska the amount due depositors was to be determined by the Court and immediately drawn 

from the fund, with no provision for procedure if the fund was insufficient. 

However, in this case the procedure in fact was the same as in those 

States where certificates of indebtedness were specifically authorized.

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72 FEDERAL DEPOSIT INSURANCE CORPORATION

In Oklahoma, South Dakota, and North Dakota, the depositors were 

to be paid at once from the guaranty fund. In all three States the law 

provided that if the fund were insufficient interest-bearing certificates of 

indebtedness were to be issued. In Oklahoma and North Dakota these 

were made payable out of the first money accruing to the fund; in South 

Dakota, due and payable on the first day of the next March. In the 

remaining State, Washington, warrants were to be issued to each holder 

of a guaranteed deposit, upon proof of claim, payable out of the fund. 

These were presumably to be presented immediately, and were to carry 

interest only if funds were insufficient to pay them, in which event five 

percent until called.

Termination of the insurance funds. Bank failures during the 

1920,s and early 1930’s resulted in the termination of the deposit insurance systems in the eight States. However, proposals in the Congress 

for nationwide insurance of bank deposits, which had begun as early 

as 1886, continued during the 1920’s, and in the early 1930 s were given 

new impetus as a consequence of the large number of bank failures. 

Thus the series of events which forced the last of the eight State plans 

to cease operations, and which culminated in the banking holiday of 

1933, was the principal factor in the enactment of Federal deposit 

insurance.

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Federal Reserve Bank of St. Louis
PART FOUR

LEGISLATION AND REGULATIONS

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F e d e r a l L e g i s l a t i o n

P ublic L a w 533— 82d C ongress*

C h apter 725—2 d Session

H. R. 5120

AN ACT

To amend the Federal Deposit Insurance Act so as to require the insurance of deposits

payable at branches of insured banks in Puerto Rico.

Be it enacted by the Senate and House of Representatives of the United States of America

in Congress assembledy That in order to insure more adequate protection of Puerto

Rican depositors by terminating the right of any insured bank, having its principal

place of business in any of the States of the United States or in the District of Columbia

which maintains a branch in Puerto Rico, to elect to exclude from insurance under

the Federal Deposit Insurance Act its deposit obligations which are payable only

at such branch, section 3 (1) of the Federal Deposit Insurance Act, as amended

(12 U. S. C. 1813 (1)), is hereby amended by striking out “Puerto Rico,” from the

second proviso thereof.

Approved July 14, 1952.

* 66 Stat. 605; 12 U.S.C. 1813 (1).

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

AMENDMENT TO THE NATIONAL BANK CONVERSION ACT

Public L a w 515—82d C ongress*

C h apter 696—2 d Session

S. 2252

AN ACT

To clarify the Act of August 17, 1950, providing for the conversion of national banks

into and their merger and consolidation with State banks.

Be it enacted by the Senate and House of Representatives of the United States of America

in Congress assembled, That section 4 of the Act entitled “An Act to provide for the

conversion of national banking associations into and their merger or consolidation

with State banks, and for other purposes”, approved August 17, 1950 (12 U. S. C.

214c), is amended by striking out the words “as provided by Federal law” at the end

of the section and substituting the words “under limitations or conditions no more

restrictive than those contained in section 2 hereof with respect to the conversion

of a national bank into, or merger or consolidation of a national bank with, a State

bank under State charter” .

Approved July 12, 1952.

* 66 Stat. 590; 12 U.S.C. 214c.

75

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76 FEDERAL DEPOSIT INSURANCE CORPORATION

NATIONAL BANK MERGER ACT

P u b lic L a w 530— 82d C o n g r e s s *

C h a p te r 722—2d S e ssio n

S. 2128

AN ACT

To provide for the merger of two or more national banking associations and for the

merger of State banks with national banking associations, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America

in Congress assembled, That the Act entitled “An Act to provide for the consolidation

of national banking associations” , approved November 7, 1918, as amended (U. S. C.,

title 12, secs. 33, 34, and 34a), is hereby amended by adding at the end thereof new

sections 4 and 5 to read as follows:

“ S ec. 4. (a) One or more national banking associations or one or more State

banks, with the approval of the Comptroller, under an agreement not inconsistent

with this Act, may merge into a national banking association located within the same

State, under the charter of the receiving association.

“ (b) The merger agreement shall—

“ (1) be agreed upon in writing by a majority of the board of directors of

each association or State bank participating in the plan of merger;

“ (2) be ratified and confirmed by the affirmative vote of the shareholders of

each association or State bank owning at least two-thirds of the capital stock

outstanding, at a meeting to be held on the call of the directors, after publishing

notice of the time, place, and object of the meeting for four consecutive weeks

in a newspaper with general circulation in the place where the association or

State bank is located, and after sending such notice to each shareholder of record

by registered mail at least ten days prior to the meeting, except to those shareholders who specifically waive notice;

“ (3) specify the amount of the capital stock of the receiving association which

will be outstanding upon completion of the merger, the amount of stock (if any)

to be allocated, and cash (if any) to be paid to the shareholders of the association

or State bank being merged into the receiving association; and

“ (4) provide the manner of disposing of any shares of the receiving association

not taken by the shareholders of the association or State bank merged into the

receiving association.

“If a merger shall be voted for at the call meetings by the necessary majorities

of the shareholders of each association or State bank participating in the plan of

merger, any shareholder of any association or State bank to be merged into the

receiving association who has voted against the merger at the meeting of the shareholders, or has given notice in writing at or prior to the meeting to the presiding

officer that he dissents from the plan of merger, shall be entitled to receive the value

of the shares held by him if and when the merger shall be approved by the Comptroller.

The value of the shares shall be ascertained, as of the date of the meeting of the

shareholders of the association or State bank approving the merger, by an appraisal

made by a committee of three persons, composed of (i) one selected by the vote of

the holders of a majority of the stock, the owners of which are entitled to payment

in cash; (ii) one selected by the directors of the receiving association; and (iii) one

selected by the two so selected. The valuation agreed upon by any two of the three

appraisers shall govern. If the value so fixed shall not be satisfactory to any dissenting

shareholder who has requested payment, that shareholder may, within five days

after being notified of the appraised value of his shares, appeal to the Comptroller,

* 66 Stat. 599-601; 12 U.S.C. 34b and 34c.

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FEDERAL LEGISLATION 77

who shall cause a reappraisal to be made which shall be final and binding as to value

of the shares of the appellant. If, within ninety days from the date of consummation

of the merger, for any reason, one or more of the appraisers have not been selected,

or the appraisers have failed to determine the value of the shares, the Comptroller,

upon written request of any interested party, shall cause an appraisal to be made

which shall be final and binding on all parties. The expenses of the Comptroller in

making the reappraisal or the appraisal, as the case may be, shall be paid by the

receiving association. The value of the shares ascertained shall be promptly paid to

the shareholders by the receiving association, and the shares so paid for shall be

surrendered to and cancelled by the receiving association. The provisions of this

paragraph shall apply only to shareholders of and stock owned by them in a bank

or association being merged into the receiving association.

“ (c) The corporate existence of the merging association or State bank shall be

merged into that of the receiving association. All rights, franchises, and interests of

the merging association or State bank in and to every type of property (real, personal,

and mixed) and choses in action shall be transferred to and vested in the receiving

association by virtue of such merger without any deed or other transfer. The receiving association, upon the merger and without any order or other action on the

part of any court or otherwise, shall hold and enjoy all rights of property, franchises,

and interests, including appointments, designations, and nominations, and all other

rights and interests as trustee, executor, administrator, registrar of stocks and bonds,

guardian of estates, assignee, receiver, committee of estates of lunatics, and in every

other fiduciary capacity, in the same manner and to the same extent as such rights,

franchises, and interests were held or enjoyed by any merging association or State

bank at the time of the merger, subject to the conditions hereinafter provided.

“Where any merging association or State bank, at the time of the merger, was acting

under appointment of any court as trustee, executor, administrator, registrar of stocks

and bonds, guardian of estates, assignee, receiver, committee of estates of lunatics,

or in any other fiduciary capacity, the receiving association shall be subject to removal

by a court of competent jurisdiction in the same manner and to the same extent as

was the merging association or State bank prior to the merger. Nothing contained

in this section shall be considered to impair in any manner the right of any court to

remove a receiving association and to appoint in lieu thereof a substitute trustee,

executor, or other fiduciary, except that such right shall not be exercised in such a

manner as to discriminate against national banking associations, nor shall any receiving association be removed solely because of the fact that it is a national banking

association.

“ (d) Any national banking association which is a receiving association may issue

stock, with the approval of the Comptroller and in accordance with law, to be delivered

to the shareholders of a merging State bank or national banking association as provided

for by a merger agreement, free from any preemptive rights of the shareholders of

the receiving association.

“ S ec. 5. As used in this Act the term—

“ (1) ‘State bank’ means any bank, banking association, trust company,

savings bank (other than a mutual savings bank), or other banking institution

which is engaged in the business of receiving deposits and which is incorporated

under the laws of any State, or which is operating under the Code of Law for

the District of Columbia (except a national banking association located in the

District of Columbia);

“ (2) ‘State’ means the several States, the several Territories, Puerto Rico,

the Virgin Islands, and the District of Columbia;

“ (3) ‘Comptroller’ means the Comptroller of the Currency; and

“ (4) ‘Receiving association’ means the national banking association into which

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

one or more national banking associations or one or more State banks, located

within the same State, merge.”

S ec. 2. Section 3 of the Act of November 7, 1918, as amended (U. S. C., title 12,

sec. 34a), is amended by deleting the second paragraph thereof, which reads as follows:

“The words ‘State bank’, ‘State banks’, ‘bank’, or ‘banks’, as used in this section,

shall be held to include trust companies, savings banks, or other such corporations

or institutions carrying on the banking business under the authority of State laws.”

Approved July 14, 1952.

AMENDMENT TO THE FEDERAL RESERVE ACT

P u b lic L a w 543—82d C o n g r e s s *

C h a p te r 753—2 d S e ssio n

S. 2938

AN ACT

To amend section 9 of the Federal Reserve Act, as amended, and section 5155 of

the Revised Statutes, as amended, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America

in Congress assembled, That the eleventh paragraph of section 9 of the Federal Reserve

Act, as amended (U. S. C., title 12, sec. 329), is amended to read as follows:

“No applying bank shall be admitted to membership unless it possesses capital

stock and surplus which, in the judgment of the Board of Governors of the Federal

Reserve System, are adequate in relation to the character and condition of its assets

and to its existing and prospective deposit liabilities and other corporate responsibilities: Provided, That no bank engaged in the business of receiving deposits other

than trust funds, which does not possess capital stock and surplus in an amount equal

to that which would be required for the establishment of a national banking association in the place in which it is located, shall be admitted to membership unless it is,

or has been, approved for deposit insurance under the Federal Deposit Insurance

Act. The capital stock of a State member bank shall not be reduced except with the

prior consent of the Board.”

Sec. 2. (a) The third paragraph of section 9 of the Federal Reserve Act, as amended

(U. S. C., title 12, sec. 321, third paragraph), is further amended by adding at the

end thereof a new sentence reading as follows: “The approval of the Board shall

likewise be obtained before any State member bank may establish any new branch

within the limits of any such city, town, or village (except within the District of

Columbia).”

(b) Subsection (c) of section 5155 of the Revised Statutes, as amended (U. S. C.,

title 12, sec. 36 (c) ), is further amended by changing the last sentence of such subsection to read as follows: “Except as provided in the immediately preceding sentence,

no such association shall establish a branch outside of the city, town, or village in

which it is situated unless it has a combined capital stock and surplus equal to the

combined amount of capital stock and surplus, if any, required by the law of the State

in which such association is situated for the establishment of such branches by State

banks, or, if the law of such State requires only a minimum capital stock for the

establishment of such branches by State banks, unless such association has not less

than an equal amount of capital stock.”

Approved July 15, 1952.

* 66 Stat. 633; 12 U.S.C. 329, 321, 36(c).

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RULES AND REGULATIONS OF THE CORPORATION 79

R u l e s a n d R e g u l a t i o n s O f T h e C o r p o r a t i o n

Effective July 1, 1952, Section 329.3(c) is amended to read as follows:

(c) Grace periods in computing interest on savings deposits. An insured non-member

bank may pay interest on a savings deposit received during its first ten business days

of any calendar month commencing a regular quarterly or semi-annual interest

period and during its first five business days of any other calendar month at the

applicable maximum rate prescribed pursuant to paragraph (a) of this section calculated from the first day of such calendar month until such deposit is withdrawn or

ceases to constitute a savings deposit under the provisions of this part, whichever

shall first occur; and an insured non-member bank may pay interest on savings deposits

withdrawn during its last three business days of any calendar month ending a regular

quarterly or semi-annual interest period at the applicable maximum rate prescribed

pursuant to paragraph (a) calculated to the end of such calendar month.

S t a t e B a n k i n g L e g i s l a t i o n

In 1952 the legislatures of sixteen States held regular sessions and six of these

legislatures held special sessions. The legislatures of four other States held special

sessions.

This summary includes the more important State banking legislation enacted in

1952.

s u p e r v is o r y a u t h o r it y

Examination fees...................................................................................... Michigan (Act 144)

Examination of banks at least twice in eighteen months, instead of twice a year. .

.................................................................................................................. Maryland (Ch. 50)

Salaries of supervisory authority and examiners............................ Mississippi (Ch. 181)

o r g a n iz a t io n a n d c h a r t e r c h a n g e s

Incorporation of trust companies and granting of trust powers to existing corporations

subject to approval of Superintendent of Banks..............................Georgia (Act 780)

Branch offices and agencies....................New Jersey (Chs. 179; 220); Virginia (Ch. 75)

Merger and consolidation......................................................................New York (Ch. 316)

Conversion of industrial bank to State bank................................... New York (Ch. 545)

Authorization for national banks to become State banks by conversion, merger or

consolidation.............................................................................................................................

........... Kentucky (Ch. 222); Illinois (Secs. 12a-b, Banking Act); Virginia (Ch. 466)

Authorization for State banks to become national banks by conversion, merger or

consolidation as provided by Federal law.........................................................................

.................................................... Kentucky (Ch. 222); Illinois (Sec. 13a, Banking Act)

GENERAL OPERATING PROVISIONS

Rental of safety deposit boxes.................................................... South Carolina (Act 773)

Stock dividends.....................................................................................New Jersey (Ch. 144)

Payment of extra dividends and additions to guaranty fund by savings banks. .. .

........................................................................................................Massachusetts (Ch. 161)

Retention and destruction of records and admission in evidence of photographs of

bank records............................................... Mississippi (Ch. 184); New York (Ch. 790)

Final adjustment of statements of account of bank with its depositors...................

.............................................................................................................. Mississippi (Ch. 185)

Rebates of interest taken in advance required upon prepayment of instalment loan. .

............................................................................................................. New Jersey (Ch. 248)

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80 FEDERAL DEPOSIT INSURANCE CORPORATION

Payment of deposits of deceased depositor.............................................................................

..................................... Georgia (Act 777); Louisiana (Act 539); New York (Ch. 824)

Deposit of and security for public funds... .Kentucky (Ch. 221); Virginia (Ch. 514)

Limitations on deposits of savings banks with depositaries. . .......................................

........................................................ Massachusetts (Ch. 186); Rhode Island (Ch. 3013)

School savings deposits......................................................................... New York (Ch. 546)

LOANS

Modification of real estate loan limitation. .New Jersey (Ch. 113); Virginia (Ch. 25)

Open end real estate mortgages...................................................Rhode Island (Ch. 3018)

Limit of liability of borrowers....................................................................Virginia (Ch. 23)

Instalment selling and financing of automobiles................................................................

........................................................................... Colorado (H.B. 65); Michigan (Act 103

INVESTMENTS

Limitation on investment in bank shares.................................... Pennsylvania (Act 557)

Investment in Federal Farm Loan Bonds..............................................................................

................................................................ Louisiana (Act 133); South Carolina (Act 744)

Car parking facility for bank customers with consent of supervisory authority. .. .

.................................................................... Mississippi (Ch. 182); New Jersey (Ch. 179)

Savings bank investments:

Dominion of Canada bonds............Massachusetts (Ch. 607); New Jersey (Ch. 140)

FHA mortgages............................................................................Massachusetts (Ch. 194)

Banking premises........................................................................ Massachusetts (Ch. 160)

Federal, State, county and municipal securities........................New Jersey (Ch. 278)

Preferred, guaranteed and common stock of corporations and stock of registered

investment companies...................New York (Ch. 705); Rhode Island (Ch. 3019)

Obligations for which the faith of a State is pledged...................New York (Ch. 24)

Bonds and mortgages on real property in adjacent States. .. .New York (Ch. 761)

t r u st a c t iv it ie s

Investments by fiduciaries.........................................................................................................

...............New Jersey (Ch. 280); South Carolina (Acts 782, 783); Virginia (Ch. 196)

Ascertainment of principal and income in estates and trusts.. .New Jersey (Ch. 156)

Investment of common trust funds....................................................New York (Ch. 215)

Maximum participation in common trust fund in the investment of small trust funds

........................................................................................................ Massachusetts (Ch. 209)

MISCELLANEOUS

Authority to refuse payment of checks one year after date... .Mississippi (Ch. 183)

Saturday holiday in cities of certain population....................................Virginia (Ch. 56)

Dissolution and liquidation of savings banks............................Massachusetts (Ch. 534)

Repeal of shareholders liability for bank obligations........................................................

........................................................................Illinois (H.J. Res. 15, 1951, adopted 1952)

Taxation of State and national banks.....................................................................................

........................................ Colorado (H.B. 86); Georgia (Act 587); Michigan (Act 182)

Uniform Trust Receipts Act.................................................................... Michigan (Act 19)

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PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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N u m b e r , O f f ic e s , a n d D e p o s it s o f O p e r a t i n g B a n k s

Table 101. Changes in number and classification of operating banks and branches in the United 

States (continental U. S. and other areas) during 1952

Table 102. Number of operating banks and branches in the United States (continental U. S. 

and other areas), December 31, 1952

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, 1952

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, 1952 

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 and deposits of operating banks in the United States (continental U. S. 

and other areas), December 31, 1952

Banks grouped according to insurance status and by district and State

The line of demarcation between banks and other types of financial

institutions is not always clear. In these tables provision of deposit

facilities for the general public is the chief criterion. However, trust

companies engaged in general fiduciary business though not in deposit

banking are included; and credit unions and savings and loan associations are excluded except in the case of a few which accept deposits

under the terms of special charters.

The tabulations for all banks and trust companies are prepared in

accordance with an agreement among the Federal bank supervisory

agencies. Deposit data are tabulated from individual reports of assets

and liabilities of the banks included. Institutions included are classified

in three groups: commercial and stock savings banks, nondeposit

trust companies, and mutual savings banks. However, the second

category does not apply to insured banks.

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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; savings and loan

companies operating under Superior Court charters 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 BAN K S

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T a b le 1 0 1 . C h a n g e s in N u m b e r a n d C l a s s if ic a t io n o f O p e r a t in g B a n k s a n d B r a n c h e s

in t h e U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s ) d u r in g 1952

Type of change

BANKS

Number of banks, December 31, 1952.

Number of banks, December 31, 1951.

Net change during year.

Banks beginning operations..............

New banks..............................................

Other additions to operating banks2.

Banks ceasing operations........................ .............................

Suspended bank not reopened or succeeded...................

Merged with financial aid of FDIC3.............. .. ...........

Absorptions, consolidations and mergers (without FDIC

aid)...........................................................................................

Other liquidations...................................................................

Insured bank becoming noninsured.

Termination of insured status...............

Noninsured bank becoming insured..............................

Successions to noninsured banks........................................

Admissions to insurance, operating banks4.....................

Admissions to F. R. System................................................

Other changes in classification.........................................

State banks succeeding national banks............................

Admissions to F. R. System................................ ..............

Withdrawals from F. R. System with continuance of

insurance...............................................................................

Change in corporate powers.................................................

Changes not involving number in any class:

Successions (including 1 with FDIC aid)3. ......................

Change in title, location, or name of location................

Change in corporate powers...............................................

Temporarily closed or operating under restrictions.. ..

All banks

Total

14,617

14,661

-44

71

67

4

1151

2

99

13

2

126

13

2

Insured

13,645

13,657

-12

62

611

102

93

7

-1-1

+ 29

+ 5

+24

1

122

12

Noninsured

972

1,004

-32

9

6

3

131

6

6

+ 1

+ 1

-29

-5

-24

Commercial and stock savings banks

and nondeposit trust companies

Total

14,088

14,132

-44

71

67

4

1151

2

99

13

2

124

13

2

Insured

Total

13,439

13,455

-16

62

611

102

93

7

-1-1

+25

+ 5

+20

1

120

12

Members F. R.

System

National

4,909

4,939

-30

15

15

38

17

State

Not

members

F. R.

System

1,886

1,898

-12

4

4

20

20

+ 4

+ 1

+ 12

-9

6,644

6,618

+ 26

43

421

44

’ ' 2

36

6

-1-1

+ 25

+ 5

+20

+ 3 + 0 

-12

+ 9

Noninsured

Banks

of deposit

584

612

-28

7

5

2

111

-25

-5

-20

+ 1

+ 1

Nondeposit

trust

companies

65

65

+ 1

+ 1

Mutual savings banks

Total

529

529

Insured1

Noninsured

206

202

+ 4

+ 4

+ 4

323

327

00FEDERAL DEPOSIT INSURANCE CORPORATION

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BRANCHES

Number of branches, December 31, 1952.

Number of branches, December 31, 1951.

Net change during year.............................................................

Branches opened for business............................................

Facilities provided as agents of the government6............

Absorbed banks converted into branches..............................

Branches replacing banks relocated or placed in liquidation

Other branches opened...........................................................

Branches discontinued6............................................................

Other changes in classification among branches.........

Facilities of noninsured banks admitted to insurance.. . .

Branches of noninsured banks admitted to insurance.. . .

Noninsured branches of insured banks becoming insured7 

Branches of insured banks admitted to F. R. System. . . .

Branches of insured banks withdrawing from F. R. System

with continuance of insurance............................................

Branches transferred as result of absorption or succession

Sale of branch to another bank..............................................

Changes not involving number in any class:

Branches transferred as result of absorption or succession.

Change in title, location, or name of location,* including

facilities....................................................................

Change in powers................................. .*!! ! * . ! ! ! ! ! ! ! ! ! ! ! !

ALL BANKING OFFICES

Number of offices, December 31, 1952

Number of offices, December 31, 1951..........

Net change during year..................................

Offices opened.

Banks..............

Branches.........

Offices closed.

Banks............

Branches.. . .

Changes in classification.

Among banks......................

Among branches................

5,833

5,494

+339

362

34

84

4

240

23

15

1312

20,450

20,155

+295

433

71

362

138

115

23

5,663

5,322

+341

349

32

83

4

230

20

+ 12 

+ 1 +2 

+ 9

15

1301

19,308

18,979

+329

411

62

349

122 10220

+ 40

+ 28 + 12

170

172

-2

132

1

10

1,142

1,176

-34

22

9

13

16

13

3

-40

-28 -12

5,587

5,264

+323

342

34

84

3

221

19

15

1272

19,675

19,396

+ 279

413

71

342

134

115

19

5,486

5,157

+329

335

32

83

3

217

18

+ 12

+ 1 

+ 2

+ 9

15

1261

18,925

18,612

+ 313

397

62

335

120 102

18

+36

+24

+ 12

2,556

2,370

+ 186

176

27

48

101

5

+ 15

+ 15

7,465

7,309

+ 156

191

15

176

43

38

5

+8

-7

+ 15

1,550

1,467

+ 83

842

241

57

+ 5

+6

-2+2-1

3,436

3,365

+71

88

4

84

26206

+ 9

+ 4

+ 5

1,380

1,320

+60

75

3

112

59

-8

+1+2

+ 9

-6

+2 

-17

+ 1

8,024

7,938

+86

118

43

75

51

44

7

+ 19

+ 27

-8

99

106

-7

4

1

-12-1-2

683

718

-35

12111

-36

-24 -12

+ 1 

1

67

66

+ 1

3

2

1

2

2

246

230

+ 16

20

775

759

+ 16

20

177

165

+ 12

14

383

367

+ 16

14

+ 4

+ 4

69

65

+ 4

6

392

392

Includes 3 mutual savings banks members of the" Federal Reserve System, December 31, 1952, and December 31, 1951.

s t financial institutions becoming banks of deposit, and 2 noninsured industrial banks previously in operation but not included in count as of December 31,1951.

In addition, 1 insured nonmember bank was succeeded by another insured nonmember bank with financial aid of FDIC.

4 Banks m operation at beginning of year.

® Facilities established in or near military installations at request of the Treasury or the Commanding Officer of the installation,

includes ^ branches discontinued prior to beginning of year but included in count as of December 31, 1951.

Branches in Puerto Rico of national banks in New York which became insured by Public Law 533, 82nd Congress, approved July 14, 1952.

00

CmNUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

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Table 102. N u m b e r of O p e r a t in g B a n k s a n d B r a n c h e s in 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 ), D e c e m b e r 31, 1952

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

Insured banks

as percentages of

banks of deposit1

Insured Noninsured

State and type of bank or office

Total Insured

Noninsured TotalJ

Total

Members F. R.

System

Not

members

F. R.

System

Banks

of deposit

Nondeposit

trust

companies

Total Insured2

Noninsured

All

banks

of deCommercial

Mutual

savings

National State

posit banks banks

20,450

14,617

19,308

13,645

1,142 19,675 118,925 7,465 3,436 8,024 683 67 775 383 392 94.7 96.5 49.4

972 14,088 13,439 4,909 1,886 6,644 584 65 529 206 323 93.8 95.8 38.9

13,0b6 12,15b 892 12,6bl 12,026 b,b61 l,6b5 5,920 552 63 b-05 128 277 93.6 95.6 31.6

Banks operating branches................ 1,571 1,U91 80 1 ,bb7 1 ,bl3 bb8 2bl 72b 32 2 12b 78 b6 95.0 97.8 62.9

Branches.................................................. 5,833 5,663 170 5,587 : 5,486 2,556 1,550 1,380 99 2 246 177 69 97.1 98.2 72.0

Continental United States............... 20,288

14,575

19,231

13,628

1,057

947

19,513

14,046

18,848 7,465 3,436 7,947 603 62 775 383 392 95.1 96.9 49.4

All banks................................................. 13,422 4,909 1,886

l,6b5

6,627 564 60 529 206 323 93.9 96.0 38.9

Unit banks.......................................... 13,020 12,1 b8 872 12,615 12,020 b,b61 5,91b 537 58 b05 128 277 93.7 95.7 31.6

Banks operating branches................ 1,555 1,U80

5,603

75 l,bSl l,b02 bb8 2bl 713 27 2 12 b 78 b6 95.3 98.1 62.9

Branches.................................................. 5,713

162

110 5,467 5,426 2,556 1,550 1,320 39 2 246 177 69 98.1 99.3 72.0

Other areas 77 85 162 77 77 80 5 49.0 49.0

All banks 42 17 25 42 17 17 20 5 45.9 45.9

Unit banks 26 6 20 26 6 6 15 5 28.6 28.6

Banks operating branches 16 11 5 16 11 11 5 68.8 68.8

Branches 120 60 60 120 60 60 60 50.0 50.0

State

Alabama .................... 259 259 259 259 100 25 134 100.0 100.0

All banks .................... 229 229 229 229 71 24 134 100.0 100.0

Unit banks 221 221 221 221 6b

7

23 13b 100.0 100.0

Banks operating branches 8 8 8 8 1 100.0 100.0

Branches 30 30 30 30 29 1 100.0 100.0

Arizona 85 83 2 85 83 51 7 25 2 100.0 100.0

All banks • 14 13 1 14 13 3 2 8 1 100.0 100.0

Unit banks • 6 6 6 6 1 1 u 100.0 100.0

Banks operating branches 8 7 1 8 7 2 1 A 1 100.0 100.0

Branches 71 70 1 71 70 48 5 17 1 100.0 100.0

Arkansas 252 246 6 252 246 55 16 175 5 1 98.0 98.0

All banks 230 224 6 230 224 53 16 155 5 1 97.8 97.8

Unit banks . 210 20b

20

6 210 20b 51 16 137 5 1 97.6 97.6

Banks operating branches 20 20 20 2 18 100.0 100.0

Branches 22 22 22 22 2 20 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
California.................................

All banks................................

Unit banks.........................

Banks operating branches

Branches............................

Colorado...................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Connecticut............................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Delaware...................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

District of Colum bia...........

All banks................................

Units banks.......................

Banks operating branches

Branches................................

Florida.......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Georgia......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Idaho.........................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Illinois.......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

1,235

199

JW52

1,036

165

160

15555

263

184

155

29

79

69

37

289

32

67

19U15

48

223

213

2031010

455

403

38320

52

102

40

819

62

897

894

8913

1,223

189

139

50

1,034

153

148

1U355

168

99

752U

64

35

287

29

67

19U15

48

219

209

1991010

392

341

322

19

51

101

39309

62

886

883

88033

1,235

199

11*7

52

1,036

165

160

15555

180 112

89

23

66

35

278

31

67

194

15

48

223

213

2031010

455

403

38320

52

102

40

319

62

897

894

8913

1,223

189

139

50

1,034

153

148

11*355

163

95

72

2368

63

34

277

29

67

19U15

48

219

209

1991010

392

341

322

19

51

101

39309

62

886

883

8803

908

92

73

19

816

80

77

7U3

193

27

15

12

166

18

17

161

122

70

51

19

52

55

54

531

32111

12

12

12

98711

3 1 1

77 43 43 16

1 83 5 78

48 15 32 16

1 72

4 68

37 9 26 16 1 66 3 63

11 6 6

6

1

5

29 28 11 11 1 10

11 17 35

3

312

11

3 20 1 2 1 1

11 16 1 1 3 A 1 1 1

14 152 1 1

35 18 14 9 6 4 1 2 1 8 U 3

26 12 10

72 11 1362

2

64 11 134 2 2

56 11 132 2 2 8 2

8 2

86 25 281 63

52 14 275 62

U2

9 271 61

10

5 u 1

34 11 6

1

65 13 23

1

12 9 18

1

7 7 16

1

5 2 2

53

4

5

389 125 3728

3

386 125 372

83

383 125 372

8

3

33

99.8

99.0

99.3

98.0

99.9

92.7

92.5

92.3

100.0

100.0

64.1

54.1

1+8.7

82.8

87.3

92.8

94.6

100.0

77.8

90.6

100.0

100.0

100.0

100.0

100.0

99.1

99.1

99.0

100.0

100.0

86.2

84.6

81>.l

95.0

98.1

99.0

97.5

96.8

100.0

100.0

99.1

99.1

99.1

100.0

100.0

99.8

99.0

99.3

98.0

99.9

92.7

92.5

92.3

100.0

100.0

91.1

85.6

81.8

100.0

100.0

95.5

97.1

100.0

87.5

93.5

100.0

100.0

100.0

100.0

100.0

99.1

99.1

99.0

100.0

100.0

86.2

84.6 8A.1

95.0

98.1

99.0

97.5

96.8

100.0

100.0

99.1

99.1

99.1

100.0

100.0

6.0

5.6

h.5

16.7

9.1

33.3

50.0

100.0

00NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 0 2 . N u m b e r o f O p e r a tin g B a n k s an d B r a n c h 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, 1952— Continued

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

Insured banks

as percentages of

banks of deposit1

Insured Noninsured

State and type of bank or office

Total Insured

Noninsured Total

Total

Members F. R.

System

Not

members

F. R.

System

Banks

of deNondeposit

trust

companies

Total Insured2

Noninsured

All

banks

of deCommercial

Mutual

savings

National State

posit posit banks banks

611 599 12 607 596 171 134 291 9 2 4 3 1 98.4 98.5 75.0

485 474 11 481 471 124 112 235 8 2 4 3 1 98.1 98.3 75.0

Unit banks.......................................... U19 U09 10 U15 U06 10u 106 196 7 2 U 3 1 98.1 98.3 75.0

Banks operatinQ branches ......... 66 65 1 66 65 20 6 39 1 98.5 98.5

Branches ......................................... 126 125 1 126 125 47 22 56 1 99.2 99.2

Iowa . ..................................... 828 769 59 828 769 97 64 608 58 1 93.0 [93.0

All banks 665 609 56 665 609 97 64 448 55 1 91.7 |91.7

Unit banks ................... 5U

121

U91

118

53 5UU

121

U91

118

97 6h 330 52 1 90.U

97.5

90.U

Banks operatinQ branches .............. 3 118 3 97.5

Branches ......................................... 163 160 3 163 160 160 3 98.2 98.2

Kansas ......................................... 611 476 135 611 476 176 41 259 135 77.9 77.9

All banks ................. .. 609 474 135 609 474 174 41 259 135 77.8 77.8

Unit banks ............... .. 607 U72

2

135 607 U72

2

172 U1 259 135 77.8 77.8

Banks operatinQ branches................ 2 2 2 100.0 100.0

Branches ............. ........................... 2 2 2 2 2 100.0 100.0

Kentucky ......................................... 437 419 18 437 419 116 32 271 16 2 96.3 96.3

All banks , ................................. 380 362 18 380 362 91 20 251 16 2 95.8 95.8

Unit banks • . . . . . . . . . . . 352 S3U

28

18 352 33U

28

86 15 233 16 2 95.U

100.0

95. U

Banks operatinQ branches................ 28 28 5 5 18 100.0

Branches ............................... 57 57 57 57 25 12 20 100.0 100.0

Louisiana .............................. 256 255 1 256 255 82 24 149 1 99.6 99.6

All banks . . . . . . . . . . . . . . 167 166 1 167 166 37 12 117 1 99.4 99.4

Unit banks 12 U

US

89

123 1 12 U

US

89

123 25 6 92 1 99.2 99.2

Banks operatinQ branches . . A3

89

us

89

12 6 25 100.0 100.0

Brsnchcs ............................ 45 12 32 100.0 100.0

Maine ................. ............................. .. 177 135 42 144 127 45 35 47 17 33 8 25 76.3 88.2 24.2

All banks ......................................... .. 96 63 33 64 55 32 6 17 9 32 8 24 65.6 85.9 25.0

Unit banks.......................................... 69 U2

21

27 38 3U 25 2 7 u 31 8 23 60.9 89.5 25.8

Banks operatinQ branches 27 6 26 21 7 A 10 5 1 1 77.8 80.8

Branches ............... 81 72 9 80 72 13 29 30 8 1 1 88.9 90.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Maryland....................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches................................

Massachusetts..........................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches................................

M ichigan....................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches................................

M innesota..................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches................................

Mississippi.................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches................................

Missouri......................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches................................

M ontana.....................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches...............................

325 319 6 298 295 82

165 160 5 156 154 59

i n 120 h 120 119 50

ut uo 1 86 85 9

160 159 1 142 141 23

622 372 250 381 372 214

368 173 195 180 173 114

277 120 157 126 120 91

91 58 88 5h 58 28

254 199 55 201 199 100

714 690 24 714 690 187

429 412 17 429 412 77

858 8 U lh 858 8 U 62

71 68 8 71 68 15

285 278 7 285 278 110

686 671 15 685 670 184

680 665 15 679 664 178

678 668 15 677 662 176

2 2 2 2 2

6 6 6 6 6

275 272 3 275 272 30

202 199 3 202 199 24

168 160 8 163 160 22

89 89 89 89 2

73 73 73 73 6

599 577 22 599 577 78

598 576 22 598 576 77

597 575 22 597 575 76

1 1 1 1 1

1 1 1 1 1

109 109 109 109 38

109 109 109 109 38

109 109 109 109 88

419 371 48 419 371 126

417 369 48 417 369 124

U15 867 A8 hi 5 867 122

2 2 2 2 2

2 2 2 2 2

30 30 30 30 21

8 8 8 8 5

8 8 8 8 2

5 5 5 5 8

22 22 22 22 16

Nebraska....................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches...............................

Nevada.........................................

All banks...............................

Unit banks...........................

Banks operating branches.

Branches................................

72

14

8

141

81

61

2

1

1

1

1

27

9

u

24

6

1

3

3

8

6

58

104

25

7

20

60

54

1 5 5

1 18 18

9 241 241

34 7 188 188

22

12

20

234

6 151 151

18

79

269

1 37 87

2 53 53

18 6

150

188

17

119

28

28

28

185

1U9

86

49

458

458

U58

11

8

8

6

6

7

13 2 1 1

13

18

2 1 1

2 1 1

9 233

168

182

86

65

399

399

899

3

7 3

6 8

1

2

100

100

100

18 4

18

18

4

4

45 26

45 26

U5 26

16 229 42 6

16 229 42 6

16 229 U2 6

5 4

1 2

1

1 1

4 2

98.5 99.3 88.9

97.6 99.4 66.7

97.6 100.0 25.0

97.6 97.2 100.0

99.4 99.3 100.0

59.8 97.6

47.0 96.1

AS.8 95.2

58.2 98.1

78.3 99.0

97.5 97.5

97.4 97.4

97.7 97.7

95.8 95.8

97.5 97.5

98.1 98.1 100.0

98.1 98.1 100.0

98.1 98.1 100.0

100.0 100.0

100.0 100.0

98.9 98.9

98.5 98.5

98.2 98.2

100.0 100.0

100.0 100.0

97.0 97.0

97.0 97.0

97.0 97.0

100.0 100.0

100.0 100.0

100.0 100.0

100.0 100.0

100.0 100.0

89.8 89.8

89.8 89.8

89.7 89.7

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 00CONUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 102. N u m b e r o f O p e ra tin g B a n k s an d B r a n c h 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 th e r A r e a s ), D e c e m b e r 31, 1952— Continued

g ro u p e d a c c o r d in g t o in su ra n c e s t a tu s and c la s s o f b a n k , an d b y s t a t e an d ty p e o f o f f i c e

CD

O

All banks

Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks

Insured banks

as percentages of

banks of deposit1

Insured Noninsured

State and type of bank or office

Total Insured

Noninsured Total

Members F. R.

System Not

memBanks

of deNondeposit

trust Total Insured2

Noninsured

All

banks

of deposit

Commercial

Mutual

savings

Total

National State

bers

F. R.

System

posit companies

banks banks

112 59 53 77 59 52 1 6 18 35 35 52.7 76.6

109 58 51 75 58 51 1 6 17 34 34 53.2 77.3

106 57 U9 73 57 50 1 6 16 33 33 53.8 78.1

3 2 2 2 1 1 1 1 1 33.3 50.0

3 1 2 2 1 1 1 1 1 33.3 50.0

Mato T Pf*QPV . . . . . . . . 534 530 4 501 497 291 142 64 1 3 33 33 99.8 99.8 100.0

All Kiinlra . . . ......... 335

267

331

263

4 312 308 200 67 41 1 3 23 23 99.7 99.7 100.0

TTto'tf hn'rtlfQ . . . . . . u 250 2U6 169 U6 31 1 3 17 17 99.6 99.6 100.0

68

199

74

51

37

U

23

1,709

68

199

62 62 31 21 10 6 6 100.0 100.0 100.0

189 189 91 75 23 10 10 100.0 100.0 100.0

74 74 74 31 9 34 100.0 100.0

51

37

U

23

1,697

51 51 26 8 17 100.0 100.0

37 37 22 7 8 100.0 100.0

n

23

n

23

U 1 9 100.0 100.0

5 1 17 100.0 100.0

12 1,468 1,456 607 715 134 9 3 241 241 99.5 99.4 100.0

A 11 Vko t"i Ira . . . . . . . . . . . 734 725 9 604 595 363 162 70 6 3 130 130 99.2 99.0 100.0

Unit batiks ............. 5 US 538 7 U7U U67 308 111 U8 U 3 71 71 99.3 99.2 100.0

189

975

187

972

2 ISO 128 55 51 22 2 59 59 98.9 98.5 100.0

3 864 861 244 553 64 3 111 111 99.7 99.7 100.0

483

226

153

ryq

480

225

3 483 480 77 42 361 3 99.4 99.4

1 226 225 46 9 170 1 99.6 99.6

153

72

255

153 153 31 3 119 100.0 100.0

1 73

257

72

255

15 6 51 1 98.6 98.6 Banks operating branches................ / o

257

175

153

138

2 31 33 191 2 99.2 99.2

168 7 175 168 40 2 126 7 96.0 96.0

146 7 153 146 40 2 104 7 95.4 95.4

131

15

22

7 138 131 h o 2 89 7 9U.9 9U.9

15

22

15 15 15 100.0 100.0

22 22 22 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
O hio............................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Oklahoma................................

All banks................................

Unit banks.........................

Banks operating branches.

Branches.................................

Oregon.......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Pennsylvania..........................

All banks................................

Unit banks.........................

Banks operating branches

Branches.................................

Rhode Island..........................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

South Carolina......................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

South D akota.........................

All banks................................

Unit banks.........................

Banks operating branches

Branches.................................

Tennessee.................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Texas..........................................

All banks................................

Unit banks.........................

Banks operating branches

Branches.................................

918 7 922 915 332

647 7 651 644 238

580 7 58U 577 21U

67 67 67 2U

271 271 271 94

378 9 387 378 200

376 9 385 376 198

374 9 383 37 U 196 2 2 2 2

2 2 2 2

178 2 179 177 109

67

2 68 66 19

5U 2 55 53 16

13 13 13 3

111 111 111 90

1,204 21 1,196 1,175 763

930 17 940 923 607

8U

U 855 8U1 559

86 3 i 85 82 U8

274 4 ;256 252 156

70 11 67 62 16

156 13 106

8 3 5 U U 7 3 8 6 2

55 5 54 52 10

198 15 213 198 71

134 15 149 134 25

113 15 128 113 17

21 21 21

8

64 64 64 46

222 222 222 58

170 170 170 35

1U3 1US 1U3 31

27 27 27

U

52 52 52 23

403

7 410 403 137

290 7 297 290 74

255 7 262 255 61

35 35 35 13

113 113 113 63

891 42 933 891 458

877 42 919 877 444

862 U2 90k 862 U29

15 15 15 15

14 14 14 14

925

654

587

67

271

387

385 88S22

180

69

56

13 111

1,225

947

858

89

278

81211110

60

213

149

12821

64

222

170

1US

27

52

410

297

262

35

113

933

919

90.4

15

14

322

179

160

19

143

25

25

25

211082

11

165

99

83

1666

352

33

108622

28

28

28

241082

14

137

137

137

261

227

2032U34

153

153

153

47

37

10

247

217

199

18

30

112

117 101

9011

16

136

107

81,

23

29

242

206

18620

36

296

296

296

18

14113442

15

15

15

42

42U2

2973U22

148 626

2973U

2285U13

99.2

98.9

98.8

100.0

100.0

98.2

98.2

98.2

100.0

100.0

99.4

98.5

98.2

100.0

100.0

98.5

98.5

98.7

96.6

98.6

87.5

75.0

80.0

70.0

91.7

93.0

89.9

88.3

100.0

i 100.0

100.0

100.0

100.0

100.0

100.0

99.0

98.6

98.5

100.0

100.0

95.5

95.4

95.k 100.0

100.0

99.2

98.9

98.8

100.0 100.0

98.2

98.2

98.2 100.0 100.0

99.4

98.5

98.1 100.0

100.0

98.5

98.5

98.7

96.5

98.4

93.9

83.3

100.0

75.0

96.3

93.0

89.9

88.3

100.0

100.0

100.0 100.0 100.0

100.0

100.0

99.0

98.6

98.5

100.0

100.0

95.5

95.4

95.U

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

57.1

62.5

66.7

50.0

50.0

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 102. N u m b e r o f O p e r a tin g B a n k s an d B r a n c h 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, 1952— Continued

g ro u p e d a c c o r d in g t o in su r a n c e s t a t u s an d c la s s o f b a n k , an d b y s t a t e an d ty p e o f o f f i c e

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks

Insured banks

as percentages of

banks of deposit1

Insured Noninsured

State and type of bank or office

Total Insured

Noninsured Total

Members F. R.

System

Not

membersBanks

of deNondeposittrust Total Insured2

Noninsured

All

banks

of deposit

CommercialMutual

savings

Total banks

National State

F. R.

System

posit companies

banks

Utah ...................................................... 89 89 89 89 31 31 27 100.0 100.0

55 55 55 55 10 21 24 100.0 100.0

Unit banks.......................................... U7

8

U7

8

47

8

U7

8

9 17 21 100.0 100.0

Banks operating branches................ 1 4. 3 100.0 100.0

Branches ............................................. 84 34 34 34 21 10 3 100.0 100.0

Verm ont.................................................... 94 93 1 78 77 41 1 35 1 16 16 100.0 100.0 100.0

All banks................................................. 74 73 1 67 66 37 1 28 1 7 7 100.0 100.0 100.0

Unit banks.......................................... 65 6U

9

1 59 58 34. 1 23 1 6 6 100.0 100.0 100.0

Banks operating branches . .. 9 8 8 3 5 1 1 100.0 100.0 100.0

Branches............................................. .. 20 20 11 11 4 7 9 9 100.0 100.0 100.0

Virginia...................................................... 443 443 443 443 186 90 167 100.0 100.0

All banks ............................................... 315 315 315 315 133 71 111 100.0 100.0

Unit banks.......................................... 25U

61

254

61

254

61

254 110 60 84

27

100.0 100.0

Banks operating bran ch es............. 61 23 11 100.0 100.0

Branches ............................................... 128 128 128 128 53 19 56 100.0 100.0

W ashington.............................................. 286 283 3 279 276 180 22 74 3 7 7 99.0 98.9 100.0

All banks............................................... 121 118 3 117 114 35 16 63 3 4 4 97.5 97.4 100.0

Unit banks.......................................... 103 100 8 100 97 25 1U 58 3 3 3 97.1 97.0 100.0

Banks operating branches................ 18 18 17 17 10 2 5 1 1 100.0 100.0 100.0

Branches............................................... 165 165 162 162 145 6 11 3 3 100.0 100.0 100.0

West Virginia.......................................... 182 178 4 182 178 74 35 69 4 97.8 97.8

Ail banks ............................................. 182 178 4 182 178 74 35 69 4 97.8 97.8

Unit banks ................................ 182 178 4, 182 178 7U 35 69 U 97.8 97.8

Banks operating branches................

Branches ...............................................

W isconsin.................................................. 708 698 10 704 695 111 75 509 6 3 4 3 1 99.0 99.1 75.0

All banks................................................. 557 548 9 553 545 95 70 380 5 3 4 3 1 98.9 99.1 75.0

Unit banks.......................................... U66

91

U58

90

8 462 455 90 67 298 u 3 4 3 1 98.9 99.1 75.0

Banks operating branches................ 1 91 90 5 3 82 1 98.9 98.9

Branches ............................................... 151 150 1 151 150 16 5 129 1 99.3 99.3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
W yom ing....................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

52

52

52

52

52

52

24

24

2U

15

15

15

13

13

18

100.0

100.0

100.0

100.0

100.0

100.0

16

7

8

u

9

16

7

8

U

9

13

12

11

1

1

1

1

1

55.2

36.8

21.h

80.0

90.0

55.2

36.8

21.U

80.0

90.0

3

2

1

1

1

3

2

1

1

1

50

2

5

5

5

5.7

50.0

100.0

33.3

2.0

5.7

50.0

100.0

83.3

2.0

*

48

3

3

4

4

8

4

2

2

4

1

1

1

56

7

2

5

49

2

1

56

7

2

5

49

2

1

87.5

63.6

50.0

714

92.5

66.7

50.0

87.5

63.6

50.0

71.h

92.5

66.7

50.0

1

1

1

1

100.0

100.0

100.0

100.0

Other areas

Alaska’ .........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

American Sam oa....................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches...................................

29

19

n

5

10

1

1

1

Hawaii4........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Mariana Islands5..............

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

58

Panama Canal Zone5............

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Puerto R ico...............................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches®.................................

Virgin Islands7.........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

1 Percentages are based on totals for all banks, excluding nondeposit trust companies.

2 Includes 3 banks members of the Federal Reserve System: 1 in Indiana and 2 in Wisconsin.

3 Includes 5 insured national banks, not members of the Federal Reserve System.

4 Includes, among noninsured banks 1 national bank operating 21 branches.

6 Includes noninsured branches of insured banks in continental United States: 3 in Mariana Islands (2 in Guam and 1 in Saipan), and 4 in Panama Canal Zone.

8 Of the 49 branches of insured banks, 9 are branches of national banks in New York.

7 Includes, among insured banks not members of the Federal Reserve System, 1 national bank operating 1 branch.

Back figures: See the Annual Report for 1951, pp. 130-137, and earlier reports.

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. N u m b e r o f C o m m e r c ia l B a n k s O p e r a t in g B r a n c h e s a n d

N u m b e r o f B r a n c h e s in t h e U n 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 ), Ju n e 30, 1952 0

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

Number operating branches Branches (except at military establishments)

State or other area,

or population of center

Total

number

of banks

operating

branches1

Within

head

office

city2

Within

head

office

county

Within

head

office

State3

Outside

head

office

State4

At military

establishments

only5

Total

number

of

branches

In

head

office

city

Elsewhere

in head

office

county

Elsewhere

in head

office

State

Outside

head

office

State

Branches

at

military

establishments6

Total United States1.......................... 1,407

1,393

14

360 630 337 7 73 5,415

5,301

114

2,272

2,260

12

1,301

1,285

16

1,621

1,556

65

21 200

Continental United States......... 359 630 327 6 71 8 192

Other a r e a s ...................................... 1 10 1 2 13 8

In centers with population o fLess than 250....................................... 27 20 7 110 1 67 42

250 to 1,000......................................... 154 1 99 53 1 749 4 484 260 1

1,000 to 5,000...................................... 313 7 218 72 16 869 24 344 498 3

5,000 to 25,000.................................... 267 42 147 60 18 720 77 229 412 2

25,000 to 100,000................................ 286 117 86 59 1 23 621 286 138 194 3

100,000 to 500,000............................. 218 107 46 50 1 14 729 587 19 116 7

500,000 to 2,500,000.......................... 102 62 14 23 2 1 917 795 20 99 3

2,500,000 or more.............................. 40 24 13 3 500 498 2

Not available8...................................... 200 200

State

Alabama................................................ 8 1 2 1 4 30 7 7 12 4

Arizona ........................................... 6 2 4 68 15 18 32 3

Arkansas . ........................ 19 15 3 1 21 17 3 1

California.............................................. 51 12 22 15 2 1,017

4

247 119 618 33

Colorado............................................... 4 4 4

Connecticut.......................................... 20 6 10 4 62 33 15 14

Delaware............................................... 9 3 3 3 26 8 10 8

District of Columbia ..................... 15 15 47 43 4

Florida................................................. 10 1 9 10 1 9

Georgia.................................................. 20 8 1 8 3 51 29 1 14 7

Idaho...................................................... 9 3 6 62 4 5 52 1

Illinois................................................... 3 3 3 3

Indiana.................................................. 63 20 42 1 121 60 57 2 2

Iowa....................................................... 122 87 35 164 121 43

Kansas................................................. 2 2 2 2

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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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........

28

40

25

37

54

70

2

381

2

5

2

60

14

128

69

15

641

15

80

8

19

27

34

14

7

8

57

17

11

18

4

6

30

16

2

3

19

5

43

19

19

3

351

5

12

' ‘ 3

’ 27

13

21

10

13

21

35

' 24

37

4

40

20

4

38

8

31

3

3

14

18

"2

5

12

2

1

11

11

2

19

’ 10*

2

2

1

4

39

30

11

4

10

4

10

13

2

3

16

1

14

54

86

77

142

194

2636

711

2

212

182

23

850

247

22

2581

107

241

55

59

51

109

13

33

11

122

159

45

13

59

117

1776

8

102

657

51

174

21

126

19

121

60

5

’ 56

38

20

14

28

32

31

69

51

77

7

120

46

11

76

15

70

17

7

21

29

7

20

19

‘ 103

2

9

31

38

4

33

22

142

59

143

11

5

70

38

19

34

28

15

20 

4

32

93

‘ 27

5

4

1

14

3

12

7

5

13

5

’ 14

7

.. „

91 60 25 151

Other area

Alaska..........................

Hawaii.........................

Mariana Islands........

Panama Canal Zone.

Puerto Rico................

Virgin Islands............

482

4

501

16

3

26

351

1 Excludes noninsured trust companies not regularly engaged in deposit banking.

2 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).

* Includes banks operating offices in 2 or more counties other than the cases listed in note 2.

4 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 2 branches in the Mariana Islands; 2 banks in New York operate 4 branches in the Panama Canal Zone and 9 branches in Puerto Rico; and 1 bank in Puerto Rico operates CO

2 branches in New York. Ox

6 Banking offices in or near military, naval, or other defense establishments are operated by 127 banks, of which 54 also operate other branches.

« Includes 183 banking facilities, established at the request of the Treasury Department or commanding officer, and 17 other branches in or near military, naval, or other defense

establishments.

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
<0

o>

Table 104. N u m b e r o f O p e r a t in g B a n k in g Of f ic e s o f C o m m e r c ia l B a n k s in t h e U n it e d 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 ), J u n e 30, 1952

g r o u p e d a c c o r d in g to n u m b e r o f c o m m e r c ia l b a n k in g o f f ic e s in c e n t e r in w h ic h

LOCATED AND BY TYPE OF OFFICE AND POPULATION OF CENTER IN WHICH LOCATED

Population of center

All

banking

offices1

Offices in centers with— Offices operated by—

1

banking

office

2

banking

offices

3

banking

offices

4

banking

offices

5

banking

offices

6

banking

offices

7 or 8 

banking

offices

9 to 19

banking

offices

20 or

more

banking

offices

Insured banl

Members F. R.

System

CS

Not

members

F. R.

System

Noninsured

banks2

National State

All banking offices1.......................... 19,463 9,486 4,246 1,206 476 350 222 233 867 2,377 7,377 3,393 7,987 706

In centers with population

of— T AHH O K 755 753 2 36 25 580 114

QEfA fA *1 AAA 4,321 4,143 172 6 762 386 2,916 257

1 nnn * a k non 5,752 3,686 1,928 123 4 5 6 2,258 797 2,541 156

c aah fA ok ooo 3,655 694 1,960 747 176 60 18 1,916 617 1,056 66

9R 000 tn 100 000 1,646 32 170 321 272 265 168 169 249 847 379 386 34

100 000 to 500 000 1,327 6 24 15 30 64 592 596 630 350 304 43

Kno nno fA 9 ^nn ooo 1,175 26 1,149 573 455 125 22

9 K A A AAA at* m 632 632 207 365 51 9

Not available (at military estab200 178 14 3 5 148 19 28 5

12,641 7,111 3,462 855 303 150 69 76 267 348 4,501 1,654 5,922 564

In centers with population

of— T /\mm OCA 618 616 2 32 23 453 110

OK(\ fn 1 3,418 3,257 160 1 630 343 2,205 240

i nno fn k ooo 4,570 2,802 1,662 99 4 2 i 1,814 641 2,004 111

e nnn fn ok nnn 2,668 426 1,528 546 121 37 10 1,438 410 777 43

000 tn 100 000 739 10 110 207 164 98 47 51 52 383 117 220 19

100 000 to 500 000 ........... 380 2 14 13 11 25 215 100 113 44 196 27

Knn nnn fn o koo ooo 156 156 41 57 48 10

O CAA Ann TV)A1*A 92 92 50 19 19 4

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
All offices of banks operating

branches...................................

In centers with population

of—

Less than 250..................................

250 to 1,000.....................................

1.000 to 5,000..................................

5.000 to 25,000................................

25.000 to 100,000.............................

100.000 to 500,000..........................

500.000 to 2,500,000......................

2.500.000 or more............................

Not available (at military establishments)1.................................

Head offices of banks operating

branches...................................

In centers with population

of—

Less than 250.....................................

250 to 1,000.......................................

1.000.to 5,000....................................

5.000 to 25,000..................................

25.000 to 100,000.............................

100.000 to 500,000...........................

500.000 to 2,500,000........................

2.500.000 or more.............................

Branches...............................................

In centers with population

of—

Less than 250.....................................

250 to 1,000.......................................

1.000.to 5,000....................................

5.000 to 25,000..................................

25.000 to 100,000.............................

100.000 to 500,000...........................

500.000 to 2,500,000........................

2.500.000 or more............................

Not available (at military establishments)1 .................................

6,822 2,375 784 351 173 200 153 157 600 2,029

137 137

903 886 12 5

1,182 884 266 24 3 5

987 268 432 201 55 23 8

907 22 60 114 108 167 121 118 197

947 4 10 2 19 39 377

26

496

1,019 993

540 540

200 178 14 3 5

1,407 403 271 119 71 65 47 51 160 220

27 27

154 145 *8 1

313 192 107 12 2

267 36 139 64 22 5 1

286 3 17 41 43 56 38 34 54

218 1 6 2 g 17 105 79

102 1 101

40 40

5,415 1,972 513 232 102 135 106 106 440 1,809

110 110

749 741 4 4

869 692 159 12 1 5

720 232 293 137 33 18 7

621 19 43 73 65 111 83 84 143

729 3 4 11 22 272

25

417

917 892

500 500

200 178 14 3 5

2,876 1,739 2,065 142

4 2 127 4

132 43 711 17

444 156 537 45

478 207 279 23

464 262 166 15

517 306 108 16

532 398 77 12

157 346 32 5

148 19 28 5

424 233 716 34

1 24 2

5 144 5

29 10 268 6

74 32 155 6

149 65 68 4

109 71 33 5

45 35 18 4

12 20 6 2

2,452 1,506 1,349 108

3 2 103 2

127 43 567 12

415 146 269 39

404 175 124 17

315 197 98 11

408 235 75 11

487 363 59 8

145 326 26 3

148 19 28 5

3

d

gw

a

w

1 Excludes noninsured trust companies not regularly engaged in deposit banking.

2 Includes the following noninsured branches of insured national banks: 2 branches in Mariana Islands operated by a bank in California; 4 branches in Panama Canal Zone and

9 branches in Puerto Rico operated by 2 banks in New York.

3 Includes 183 banking facilities, established at the request of the Treasury Department or commanding officer, and 17 other branches in or near military, naval or other defense

establishments. COOFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T ab le 105. 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 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 Oth e r A r e a s), D e c e m b e r 31, 1952

b a n k s g r o u p e d a c c o rd in g t o in su ra n c e s t a t u s an d b y d is t r ic t an d s t a t e 0 

______________________________________ _ _______________________________________________________________________ oo

Number of banks Deposits (in thousands of dollars)

FDIC District

and State

Commercial and stock savings

banks and nondeposit

trust companies

Mutual savings banks

Commercial and stock savings

banks and nondeposit

trust companies

Mutual savings banks

All Noninsured All

banks1

Total Insured Banks

of deposit1

Nondeposit

trust

companies

Total Insured

Noninsured

banks

Total Insured Noninsured Total Insured Noninsured

Total United

States................... 14,617 14,088 13,439 584 65 529 206 323 196,431,356 173,810,117 171,357,027 2,453,090 22,621,239 16,785,023 5,836,216

Continental U. S .. 14,575

42

852

14,046

42

511

13,422

17

457

564

20

51

60

5

529 206 323 195,552,200

879,156

14,550,361

172,930,961

879,156

8,487,144

170,970,862

386,165

8,185,419

1,960,099

492,991

301,725

22,621,239 16,785,023 5,836,216

FDIC District

District 1................... 3 341 24 317 6,063,217 357,059 5,706,158

District 22.................. 1,106

1,601

1,056

1,047

1,505

1,471

1,559

1,112

1,623

1,151

492

229

14

230

199

160

184

951 937 8 6 155 154 1 55,052,100 40,924,312 40,406,298 518,014 14,127,788 14,053,122 74,666

District 3 . . 1,591

1.047

1.047

1,505

1,463

1,559

1,111 

1,623

1,151

487

229

14

230

199

160

112

1,567

1,025

I 978

1,452

1,428

1,492

1,089

1,419

1,107

471

229

13

224

189

148

95

21 3 10 10 21,930,571 20,445,043 20,370,185 74,858 1,485,528 1,485,528

District 4 ................... 21 1 9 6 3 10,055,814 9,629,728 9,492,671 137,057 426,086 384,635 41,451

T^ioffipf K 67

43

24

2 6,913,043

10,125,048

13,887,561

6,913,043

10,125,048

13,821,651

6,880,277

10,077,824

13,632,457

32,766

Disfript fi 10 47,224

District 7................... 11 8 6 2 189,194 65,910 51,969 13,941

ft 63

20

196

43

7

4 16,963,250

5,235,234

7,202,246

11,737,758

21,899,214

1,450,909

611,644

926,327

16,398,666

1,410,712

3,447,116

16,963,250

5,044,032

7,202,246

11,737,758

21,637,706

1,450,909

611,644

926,327

16,398,666

1,410,712

1,957,968

16,841,794

■a 4,915,445

121,456

128,587

218,897

94,796

95,525

District 9 2 1 1 191,202 191,202

1 a 8

1

? 6,983,349

*11,642,962

21,542,181

1,450,909

609,103

923,439

16,341,536

1,405,098

1,882,683

Tliflffipf 11

District 12® 9 5 5 261,508 261,508

State

A laVtnrriQ

A ri7ATl Q 1 2,541

2,888

57,130

5,614

75,285

5 1

n o lifn m iQ 2 8

/I a 12

Connecticut.............. 16 1 72 4 68 1,489,148 81,498 1,407,650

Delaware ............... 37 35 34 1 2 1 1 598,364 502,861 498,777 4,084 95,503 20,837 74,666

Dist. of Columbia. .

'EM

19

213

403

40

894

485

19

213

403

40

894

481

19

209

341

39

883

471

1,270,925

2,471,776

2,079,122

513,447

14,473,555

3,773,452

1,270,925

2,471,776

2,079,122

513,447

14,473,555

3,723,866

1,270,925

2,464,085

2,062,708

504,086

14,443,710

3,703,477

2 2 7,691

Clanrcri a 62 16,414

1 9,361

29,845

20,389

Til* s 3

Indiana...................... 8 2 4 3 1 49,586 36,076 13,510

665

609

665

609

609

474

55

135

1 2,489,695

1,951,651

2,489,695

1,951,651

2,398,084

1,784,845

91,611

TTsncnQ 166,806

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 areas

Alaska........................

American Samoa. . .

Hawaii.......................

Mariana Islands4. . .

Panama Canal Zone4

Puerto Rico4.........

Virgin Islands... .

380

167

96

165

368

429

680

202

598

109

417

8

109

335

51

734

226

153

654

385

69

947

21

149

170

297

919

55

74

315

121

182

557

52

380

167

64

156

180

429

679

202

598

109

417

8

75

312

51

604

226

153

651

385

68

940

13

149

170

297

919

55

67

315

117

182

553

52

362

166

55

154

173

412

664

199

576

109

369

8

58

308

51

595

225

146

644

376

66

923

10

134

170

290

877

55

66

315

114

178

545

52

42

32

9

188

130

23

130

24

3

188

34

1,858,746

2,105,124

777,713

2,327,092

8,222,908

6,614,478

3,415,412

911,236

5,041,046

653,804

1,525,760

224,760

612,874

6,032,489

444,450

48,421,247

2,209,358

612,470

9,077,075

2,000,324

1,631,637

12,853,496

1,113,301

841,183

553,548

2,298,929

8,576,540

695,827

376,449

2,370,796

2,434,877

1,036,460

3,499,631

313,799

132,878

1,225

403,273

19,320

22,023

294,973

5,464

1,858,746

2,105,124

516,442

1,901,006

4,608,262

6,614,478

3,224,210

911,236

5,041,046

653,804

1,525,760

224,760

304,897

5,279,726

444,450

35,141,725

2,209,358

612,470

8,813,864

2,000,324

1,608,016

11,631,179

817,027

841,183

553.548

2,298,929

8,576,540

695,827

282.548

2,370,796

2,196,990

1,036,460

3,483,307

313,799

132,878

1,225

403,273

19,320

22,023

294,973

5,464

1,840,168

2,104,127

477,989

1,812,376

4,509,853

6,454,558

3,212,298

902,575

5,021,462

653,804

1,484,841

224,760

247,107

5,273,396

444,450

34,634,125

2,183,049

495,795

8,804,664

1,994,766

1,600,227

11,565,521

785,239

832,300

553.548

2,292,755

8,485,282

695,827

282.548

2,370,796

2,175,745

1,023,225

3,474,422

313,799

95,762

26,982

258,116

5,305

18,57 8

997

38,453

88,630

98,409

159,920

11,912

8,661

19,584

40,919

57,790

6,330

507,600

26,309

116,675

9,200

5,558

7,789

65,658

31,788

8,883

6,174

91,258

21,245

13,235

8,885

37,116

1,225

376,291

19,320

22,023

36,857

159

261,271

426,086

1,614,646

191,202

307,977

752,763

13,279,522

263,211

23,621

1,222,317

296,274

93,901

237,887

16,324

39,892

384,635

191,202

752,763

13,279,522

263,211

23,621

1,222,317

141,768

93,901

237,887

15,893

221,379

41,451

3,614,646

307,977

154,506

431

» Includes 21 noninsured banks of deposit (2 in Colorado, 13 in Georgia, 2 in Iowa, and 4 in Texas) for which deposits are not available,

a Includes Puerto Rico and the Virgin Islands.

* Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone.

* Includes deposit data for the following branches of insured banks in continental United States: 3 noninsured branches in the Mariana Islands (2 in Guam and 1 in Saipan); CD

4 noninsured branches in the Panama Canal Zone; and 9 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 1951, pp. 138-139, and earlier reports.

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
A s s e t s a n d L i a b i l i t i e s o f O p e r a t i n g B a n k s

Table 106.

Table 107.

Table 108.

Table 109.

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, Capital and other Ratios, Commercial and Mutual

Savings Banks/’ as follows:

For June 30, 1952 Report No. 37, pp. 8-9

For December 31, 1952 Report No. 38, pp. 8-9

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

and other areas), June 30, 1952

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, 1952

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, 1952 

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, 1952, June 30, 1952, and December 31, 1951

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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. Nine branches in Puerto

Rico of 2 national banks in New York became insured in July 1952.

Asset and liability data for these branches are included with insured

bank figures for Puerto Rico and for all insured banks.

Since June 30, 1942, 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.

Beginning with June 30, 1948, individual loan items have been

reported gross instead of net of valuation reserves. Accordingly, reserves for losses on loans under the provisions of Mimeograph 6209

issued by the Bureau of Internal Revenue in December 1947 and other

loan valuation reserves have been shown separately.

Instalment loans are ordinarily reported net if the instalment payments are applied directly to the reduction of the loan. Such loans are

reported gross if, under contract, the payments do not immediately

reduce the unpaid balances of the loan but are assigned or pledged to

assure repayment at maturity.

Total deposits shown in these tables are not the same as the deposits

upon which assessments paid to the Federal Deposit Insurance Corporation are based. The assessment base is slightly lower due to certain

exclusions which are permitted and deductions which may be claimed.

Asset and liability data for noninsured banks are tabulated from

reports pertaining to the individual banks. In a few cases these reports

are not as detailed as those submitted by insured banks, and some of

the items reported have been allocated to more detailed categories

according to the distribution of asset and liability data for insured

State banks not members of the Federal Reserve System or for other

noninsured banks.

Sources o f data

National banks and State banks in the District of Columbia not

members of the Federal Reserve System: Office of the Comptroller of

the Currency.

State banks members of the Federal Reserve System: Board of

Governors of the Federal Reserve System.

Other insured banks: Federal Deposit Insurance Corporation.

Noninsured banks: State banking authorities; Rand McNally Bankers

Directory; Polk’s Bankers Encyclopedia; and reports from individual

banks.

ASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
b a n k s g r o u p e d a c c o r d in g t o i n s u r a n c e s t a t u s a n d t y p e o f b a n k

(Amounts in thousands of dollars)

Table 106. A s s e t s a n d L i a b i l i t i e s o f O p e r a t i n g B a n k s in t h e U n i t e d S t a t e s ( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , J u n e 30, 1952

All banks Commercial and stock savings banks and

nondeposit trust companies Mutual savings banks

Noninsured

Asset, liability, or capital account item

Total Insured Noninsured Total Insured Banks

of

deposit

Nondeposit

trust

companies1

Total Insured Noninsured

Total assets..................................................................... 202,767,411 193,222,175 9,545,236 178,389,619 175,339,474 2,850,805 199,340 24,377,792 17,882,701 6,495,091

Gash, balances with other banks, and cash

collection items— total................................ 41,841,743 41,074,197 767,546 40,876,191 40,318,023 505,696 52,472 965,552 756,174 209,378

Currency and coin................................................. 2,552,403 2,459,068 93,335 2,451,150 2,384,038 65,664 1,448 101,253 75,030 26,223

Reserve with F. R. banks (member banks). . 19,332,503 19,332,503 19,331,231 19,331,231 1,272 1,272

Demand balances with banks in U. S.............. 10,962,327 10,364,239 598,088 10,358,064 9,929,047 379,854 49,163 604,263 435,192 169,071

259,847

44,668

253,277

40,005

6,570

4,663

64,890

37,657

44,668

34,931

40,005

2,726

4,650

222,190 218,346 3,844

Balances with banks in foreign countries. . . . 13

Cash items in process of collection................... 8,689,995 8,625,105 8,653,421 8,598,771 52,802 1,848 36,574 26,334 10,240

Securities— total..................................................... 88,092,926 82,740,951 5,351,975 75,510,846 73,927,155 1,482,098 101,593 12,582,080 8,813,796 3,768,284

U. S. Gov’t, obligations (incl. guaranteed). . . 71,029,850 66,916,304 4,113,546 61,424,074 60,186,402 1,178,441 59,231 9,605,776 6,729,902 2,875,874

Obligations of States and subdivisions............ 10,124,402 9,865,048 259,354 9,889,868 9,652,108 219,891 17,869 234,534 212,940 21,594

Other bonds, notes, and debentures2............... 6,265,223 5,574,713 690,510 3,805,223 3,742,570 55,244 7,409 2,460,000 1,832,143 627,857

Corporate stocks.................................................... 673,451 384,886 288,565 391,681 1346,075 28,522 17,084 281,770 38,811 242,959

Loans and discounts, net— total..................... 70,175,532 66,903,761 3,271,771 59,666,822 58,860,741 778,921 27,160 10,508,710 8,043,020 2,465,690

Valuation reserves3.................................................... 1,032,229 1,014,641 17,588 853,680 851,354 2,285 41 178,549 163,287 15,262

Loans and discounts, gross— total................. 71,207,761 67,918,402 3,289,359 60,520,502 59,712,095 781,206 27,201 10,687,259 8,206,307 2,480,952

Commercial and industrial loans....................... 25,499,020 25,255,327 243,693 25,470,853 25,232,047 237,036 1,770 28,167 23,280 4,887

Loans to farmers directly guaranteed by the

77,543

3,594,091

74,014

3,496,032

3,529

97,874

Commodity Crsd.it Corporation 77,543

3,595,821

74,014

3,497,510

3,529

Other loans to farmers (excl. real estate). . . . 98,311 185 1,730 1,478 252

Loans to brokers and dealers in securities... . 2,112,612 2,105,942 6,670 2,112,612 2,105,942 6,670

Other loans for carrying securities.................... 989,505 944,542 44,963 986,588 943,261 38,204 .........5,123 .........2,917 .........1,281 .........1,636

Real estate loans— total....................................... 25,730,123 23,046,854 2,683,269

82,845

15,176,244 14,925,215 234,087 16,942 10,553,879 8,121,639 2,432,240

Farm land............................................................ 1,110,480 1,077,635 1,062,861 1,040,977 20,717 1,167 47,619 86,658 10,961

Residential properties:

Insured by F H A ............................................. 6,888,799 5,975,707 368,092 8,440,670 8,372,141 64,659 3,870 2,898,129 2,603,566 294,563

Insured or guaranteed by V A ..................... 4,868,666

9,538,944

4,203,509 665,157 2,951,729 2,913,310 35,813 2,606 1,916,937 1,290,199 626,738

Not insured or guaranteed by FH A or V A . 8,202,514 1,336,430 5,209,203 5,127,582 1,254,809

2,471,205

73,661 7,960 4,829,741 3,074,932

Other properties................................................... 3,873,234 3,587,489 285,745 2,511,781 39,237 1,339

965

1,361,453 1,116,284 245,169

Other loans to individuals................................... 11,571,562 11,417,027 154,535 11,477,630 11,363,425 113,240 93,932 53,602 40,330

Loans to banks....................................................... 154,741 153,430 1,311 154,741 153,430 1,311

All other loans (including overdrafts).............. 1,476,834 1,423,756 53,078 1,470,200 1,418,729 49,255 .........2,216 .........6,634 .........5,027 .........1,607

Miscellaneous assets— total............................... 2,657,210 2,503,266 153,944 2,335,760 2,233,555 84,090 18,115 321,450 269,711 51,739

Bank premises owned, furniture and fixtures. 1,392,524 1,344,994 47,530 1,268,369 1,248,546 14,194 5,629 124,155 96,448 27,707

Other real estate— direct and indirect............. 138,966 123,923 15,043 135,259 121,695

863,314

5,752 7,812 3,707 2,228 1,479

All other miscellaneous assets............................ 1,125,720 1,034,349 91,371 932,132 64,144 4,674 193,588 171,035 22,553

FEDERAL DEPOSIT INSURANCE CORPORATION

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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.........................................................

202,767,411 193,222,175 9,545,236 178,389,619 175,339,474 2,850,805 199,340 24,377,792 17,882,701 6,495,091

154,618,406

92,149,841

59,702,063

2,766,502

147,143,467

90,949,231

53,459,125

2,735,111

7,474,939

1,200,610

6,242,938

31,391

132,848,946

92,135,843

37,955,032

2,758,071

131,073,895

90,936,853

37,409,999

2,727,043

1,705,107

1,130,242

543,945

30,920

69,944

68,748

1,088

108

21,769,460

13,998

21,747,031

8,431

16,069,572

12,378

16,049,126

8,068

5,699,888

1,620

5,697,905

363

16,810,101

5,919,687

292,570

8,903,783

1,694,061

16,421,211

5,805,921

291,726

8,713,372

1,610,192

388,890

113,766

844

190,411

83,869

16,798,908

5,917,740

292,523

8,902,258

1,686,387

16,411,545

5,804,419

291,679

8,712,097

1,603,350

387,303

113,321

844

190,101

83,037

60

60

11,193

1,947

47

1,525

7,674

9,666

1,502

47

1,275

6,842

1,527

445

250

832

13,564,680

11,538,716

174,112

1,376,942

441,872

33,038

13,138,681

11,290,417

35,163

1,339,032

441,672

32,397

425,999

248,299

138,949

37,910

200

641

13,562,942

11,538,666

172,424

1,376,942

441,872

33,038

13,137,029

11,290,367

33,561

1,339,032

441,672

32,397

425,912

248,299

138,863

37,909

200

641

1

1

1,738

50

1,688

1,652

50

1,602

86

86

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........................................................

184,993,187

122,655,1*71

62,337,716

176,703,359

120,833,08^

55,870,275

8,289,828

1,822,387

6,467, U1

163,210,796

122,629,520

40,581,276

160,622,469

120,809,811

39,812,658

2,518,322

1,750,792

767,530

70,005

68,917

1,088

21,782,391

25,951

21,756,440

16,080,890

23,273

16,057,617

5,701,501

2,678

5,698,823

2,649,644

100,514

2,549,130

2,515,973

91,334

2,424,639

133,671

9,180

124,491

2,492,625

100,292

2,392,333

2,414,057

91,145

2,322,912

54,352

7,771

46,581

24,216

1,376

22,840

157,019

222

156,797

101,916

189

101,727

55,103

33

55,070

187,642,831 179,219,332 8,423,499 165,703,421 163,036,526 2,572,674 94,221 21,939,410 16,182,806 5,756,604

15,124,580

86,964

3,888,690

7,459,251

3,689,675

14,002,843

65,394

3,768,005

6,907,544

3,261,900

1,121,737

21,570

120,685

551,707

427,775

12,686,198

86,964

3,888,690

5,800,170

2,910,374

12,302,948

65,394

3,768,005

5,666,133

2,803,416

278,131

21,570

80,744

95,974

79,843

105,119

39,941

38,063

27,115

2,438,382

(4)

1,699,895

(4)

738,487

Surplus......................................................................

Undivided profits and reserves..........................

1,659,081

779,301

1,241,411

458,484

417,670

320,817

Number of banks5.......................................................... 14,641 13,655 986 14,112 13,450 598 64 529 205 324

1 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

2 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.

8 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.

4 Not reported separately. Included with “ Undivided profits and reserves.”

6 Includes 17 noninsured banks of deposit for which asset and liability data are not available.

Back figures: See the Annual Report for 1951, pp. 142-143, and earlier reports. H*

ASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
Table 107. A s s e t s a n d L i a b i l i t i e s o f O p e r a t 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, 1952

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars)

Asset, liability, or capital account item

All banks

Commercial and stock savings banks and

nondeposit trust companies Mutual savings banks

Total Insured Noninsured Total Insured

Nonir

Banks

of

deposit

tsured

Nondeposit

trust

companies1

Total Insured Noninsured

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

Cash, balances with other banks, and cash

collection items— total................................

Currency and coin.................................................

Reserve with F. R. banks (member banks). .

Demand balances with banks in U. S..............

Other balances with banks in U. S...................

Balances with banks in foreign countries. . . .

Cash items in process of collection....................

Securities— total......................................................

U. S. Gov’t, obligations (incl. guaranteed).. .

Obligations of States and subdivisions............

Other bonds, notes, and debentures2...............

Corporate stocks....................................................

214,830,603 205,293,919 9,536,684 189,597,160 186,682,180 2,709,188 205,792 25,233,443 18,611,739 6,621,704

45,763,876

2,938,679

19,810,476

12,456,442

267,125

76,527

10,214,627

45,030,818

2,842,118

19,810,476

11,882,646

257,638

75,000

10,162,940

733,058

96,561

'573,796

9,487

1,527

51,687

44,845,796

2,813,411

19,809,084

11,913,051

47,609

76,527

10,186,114

44,299,249

2,749,835

19,809,084

11,479,724

41,961

75,000

10,143,645

491,146

62,337

379,953

5,648

1,514

41,694

55,401

1,239

53,374

13

775

918,080

125,268

1,392

543,391

219,516

28,513

731,569

92,283

1,392

402,922

215,677

19,295

186,511

32,985

140,469

3,839

.........9,218

90,459,926

73,010,835

10,563,520

6,146,191

739,380

85,210,541

69,001,513

10,303,933

5,469,385

435,710

5,249,385

4,009,322

259,587

676,806

303,670

77,806,262

63,588,505

10,238,126

3,576,290

403,341

76,280,443

62,408,171

10,006,206

3,509,325

356,741

1,422,071

1,118,580

216,731

58,593

28,167

103,748

61,754

15,189

8,372

18,433

12,653,664

9,422,330

325,394

2,569,901

336,039

8,930,098

6,593,342

297,727

1,960,060

78,969

3,723,566

2,828,988

27,667

609,841

257,070

Loans and discounts, net— total.....................

Valuation reserves8....................................................

Loans and discounts, gross— total.................

Commercial and industrial loans.......................

Loans to farmers directly guaranteed by the

Commodity Credit Corporation....................

Other loans to farmers (excl. real estate). . . .

Loans to brokers and dealers in securities... .

Other loans for carrying securities....................

Real estate loans— total.......................................

Farm land............................................................

Residential properties:

Insured by F H A .............................................

Insured or guaranteed by V A ......................

No t insured or guaranteed by FH A or V A .

Other properties...................................................

Other loans to individuals...................................

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

All other loans (including overdrafts)..............

75,928,803

1,077,382

77,006,185

28,040,657

725,563

3,221,324

2,060,151

1,128,483

27,245,326

1,129,888

6,843,614

5,249,014

9,970,95k

4,051,856

12,836,043

157,625

1,591,013

72,515,153

1,058,629

73,573,782

27,840,851

683,769

3,142,286

2.050.295

1,084,794

24,368,814

1,09^,69^

6.452.296

4,497,823

8,584,913

3,739,088

12,699,259

157,357

1,546,357

3,413,650

18,753

3,432,403

199,806

41,794

79,038

9,856

43,689

2,876,512

35,194

391,318

751,191

1,386,041

312,768

136,784

268

44,656

64,579,618

905,856

65,485,474

28,010,892

725,563

3,219,535

2,060,151

1,125,458

15,866,163

1,057,284

3,675,402

3,011,547

5,501,162

2,620,768

12,739,297

157,625

1,580,790

63,824,310

903,935

64,728,245

27,815,944

683,769

3,140,789

2,050,295

1,083,439

15,615,871

1,036,500

3,607,833

2,971,349

5,416,693

2,583,496

12,641,861

157,357

1,538,920

726,957

1,887

728,844

193,145

41,794

78,576

9,856

35,878

232,879

19,496

64,005

37,552

76,349

35,477

97,071

268

39,377

28,351

34

28,385

1,803

170

.........6,141

17,413

1,288

3,564

2,646

8,120

1,795

365

.........2,493

11,349,185

171,526

11,520,711

29,765

1,789

.........3,025

11,379,163

72,604

3,168,212

2,237,467

4,469,792

1,431,088

96,746

10,223

8,690,843

154,694

8,845,537

24,907

1,497

.........1,355

8,752,943

58,194

2,844,463

1,526,474

3,168,220

1,155,592

57,398

.........7,437

2,658,342

16,832

2,675,174

4,858

292

.........1,670

2,626,220

14,410

323,749

710,993

1,301,572

275,496

39,348

.........2,786

Miscellaneous assets— tota l...............................

Bank premises owned, furniture and fixtures.

Other real estate—direct and indirect.............

All other miscellaneous assets............................

2,677,998

1,442,139

141,629

1,094,230

2,537,407

1,394,104

125,888

1,017,415

140,591

48,035

15,741

76,815

2,365,484

1,310,250

137,352

917,882

2,278,178

1,290,798

123,352

864,028

69,014

13,690

6,230

49,094

18,292

5,762

7,770

4,760

312,514

131,889

4,277

176,348

259,229

103,306

2,536

153,387

53,285

28,583

1,741

22,961

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......................

214,830,603 205,293,919 9,536,684 189,597,160 186,682,180 2,709,188 205,792 25,233,443 18,611,739 6,621,704

165,027,663

100,141,329

61,909,225

2,977,109

157,411,509

98,917,066

55,540,770

2,953,673

7,616,154

1,224,263

6,368,455

23,436

142,421,241

100,120,383

39,331,296

2,969,562

140,639,327

98,897,813

38,794,901

2,946,613

1,707,787

1,149,581

535,356

22,850

74,127

72,989

1,039

99

22,606,422

20,946

22,577,929

7,547

16,772,182

19,253

16,745,869

7,060

5,834,240

1,693

5,832,060

487

16,034,829

5,020,892

327,112

8,993,643

1,693,182

15,697,660

4,939,177

326,455

8,819,091

1,612,937

337,169

81,715

657

174,552

80,245

16,022,004

5,018,041

327,106

8,991,872

1,684,985

15,686,714

4,936,857

326,449

8,817,570

1,605,838

335,226

81,184

657

174,238

79,147

64

64

12,825

2,851

6

1,771

8,197

10,946

2,320

6

1,521

7,099

1,879

531

250

1,098

15,368,864

13,122,256

183,670

1,466,850

562,903

33,185

15,032,881

12,955,589

44,124

1,437,724

562,903

32,541

335,983

166,667

139,546

29,126

15,366,872

13,122,206

181,728

1,466,850

562,903

33,185

15,030,986

12,955,539

42,279

1,437,724

562,903

32,541

335,862

166,644

139,449

29,125

24

23

1

1,992

50

1,942

1,895

50

1,845

97

97

Postal savings..................................................... 644 644

Total deposits..............................................

Demand............................................................

Tim e..................................................................

Miscellaneous liabilities—total......................

Rediscounts and other borrowed money.........

All other miscellaneous liabilities......................

Total liabilities (excluding capital

accounts)..................................................

Capital accounts—total...................................

Preferred capital....................................................

Common stock........................................................

196,431,356

131,722,079

6b,709,277

188,142,050

130,022,320

58,119,730

8,289,306

1,699,759

6,589,5U7

173,810,117

131,688,91b

1*2,121,203

171,357,027

129,992,116

U ,36b,911

2,378,875

1,623,622

755,253

74,215

73,176

l t039

22,621,239

33,165

22,588,07b16,785,023

30,20b

16,‘75b,819

5,836,216

2,961

5,833,255

2,945,259

196,234

2,749,025

2,836,335

188,785

2,647,550

108,924

7,449

101,475

2,812,368

196,219

2,616,149

2,739,919

188,785

2,551,134

48,947

6,410

42,537

23,502

1,024

22,478

132,891

15

132,876

96.416

96.416

36,475

15

36,460

199,376,615 190,978,385 8,398,230 176,622,485 174,096,946 2,427,822 97,717 22,754,130 16,881,439 5,872,691

15,453,988

79,414

3,937,382

7,776,273

3,660,919

14,315,534

57,835

3,818,245

7,208,239

3,231,215

1,138,454

21,579

119,137

568,034

429,704

12,974,675

79,414

3,937,382

6,074,654

2,883,225

12,585,234

57,835

3,818,245

5,938,187

2,770,967

281,366

21,579

78,871

97,553

83,363

108,075

40,266

38,914

28,895

2,479,313

(4)

1,730,300

(4)

749,013

Surplus.....................................................................

Undivided profits and reserves..........................

1,701,619

777,694

1,270,052

460,248

431,567

317,446

Number of banks5.......................................................... 14,617 13,645 972 14,088 13,439 584 65 529 206 323

1 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

2 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.

3 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.

4 Not reported separately. Included with undivided profits and reserves.

B Includes 21 noninsured banks of deposit for which asset and liability data are not available.

Back figure8,ll93U-1951: See the preceding table and the Annual Report for 1951, pp. 144-145, and earlier reports. ££

Qji ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY DISTRICT AND STATE

(Amounts in thousands of dollars)

Table 108. A s s e t s a n d L i a b i l i t i e s o f O p e r a t i n g B a n k s in t h e U n it e d S t a t e s ( C o n t i n e n t a l U. S. a n d O t h e r A r e a s ) , D e c e m b e r 31, 1952

Assets

FDIC District and State Number

of banks1 Cash and

due from

banks

U. S. Government

obligations

Other

securities

Loans, discounts, and

overdrafts

Miscellaneous

assets

Total

Total United States.......... 14,617 45,763,876 73,010,835 17,449,091 75,928,803 2,677,998 214,830,603

Continental U. S............ 14,575 45,584,165 72,740,116 17,374,110 75,512,219 2,626,296 213,836,906

Other areas....................... 42 179,711 270,719 74,981 416,584 51,702 993,697

FDIC District

District 1............................. 852 2,210,224 6,145,651 1,542,226 6,126,863 207,866 16,232,830

District 25............................ 1,106 11,772,319 18,611,682 5,156,304 25,139,335 939,742 61,619,382

District 3 ............................. 1,601 4,865,945 8,506,720 2,564,079 7,816,562 278,425 24,031,731

District 4 ............................. 1,056 2,599,027 4,015,204 788,766 3,379,924 144,592 10,927,513

District 5............................. 1,047 1,991,754 2,551,323 580,865 2,229,497 90,512 7,443,951

District 6............................. 1,505 2,978,863 3,546,553 638,997 3,651,896 99,457 10,915,766

District 7............................. 1,471 3,215,547 6,287,886 1,069,210 4,128,928 127,108 14,828,679

District 8............................. 1,559 4,097,513 7,222,298 1,426,689 5,361,087 119,558

46,352

18,227,145

District 9............................. 1,112 1,171,416 2,168,434 465,109 1,778,158 5,629,469

District 10........................... 1,623 2,050,077 2,643,990 555,253 2,425,835 54,457

198,237

7,729,612

District 11........................... 1,151 3,926,126 3,754,773 713,872 3,977,177 12,570,185

District 12®.......................... 492 4,705,354 7,285,602 1,872,740 9,496,957 319,990 23,680,643

State

Alabama.............................. 229 413,515 505,583 151,086 482,803 16,246 1,569,233

Arizona................................. 14 123,937 221,606 50,537 246,502 13,934 656,516

Arkansas.............................. 230 298,691 355,240 86,904 251,737 6,029 998,601

California............................. 199 3,464,304 5,358,652 1,410,991 7,280,915 250,938 17,765,800

Colorado.............................. 160 385,102 560,470 56,976 498,263 10,400 1,511,211

Connecticut......................... 184 538,445 1,527,193 460,689 1,225,510 49,195 3,801,032

Delaware.............................. 37 107,781 217,154 96,228 245,897 8,392 675,452

District of Columbia........ 19 353,702 517,765 53,116 420,060 22,112 1,366,755

Florida......................... 213 707,847 1,091,919 169,059 639,226 35,547 2,643,598

Georgia................................. 403 617,804 654,663 124,113 828,861 29,069 2,254,510

Idaho.................................... 40 105,837 207,972 20,705 205,334 4,519 544,367

Illinois.................................. 894 3,514,968 6,325,981 1,208,266 4,390,214 102,766 15,542,195

Indiana................................. 485 950,568 1,771,963 230,918 1,047,467 31,535 4,032,451

Iowa...................................... 665 582,545 896,317 218,423 970,873 16,792 2,684,950

Kansas.................................. 609 531,832 680,501 183,916 679,301 11,848 2,087,398

Liabilities and capital accounts

Deposits

Business

and

personal2

Government3

Interbank4

Miscellaneous

liabilities

Total

capital

accounts

165,027,663 16,034,829 15,368,864 2,945,259 15,453,988

164,401,805

625,858

15,799,262

235,567

15,351,133

17,731

2,917,221

28,038

15,367,485

86,503

13,302,793

46,691,526

19,175,344

8,281,920

5,442,565

7,791,783

12,091,366

13,933,954

4,276,521

5,705,308

8,834,324

18,874,401

763,036

2,914,085

1,657,776

1,018,122

879,925

894,591

1,255,938

1,419,055

537,887

899,113

1,369,278

2,190,456

484,532

5,446,489

1,097,451

755,772

590,553

1,438,674

540,257

1,610,241

420,826

597,825

1,534,156

834,357

161,254

1,471,917

183,331

113,247

59,056

80,955

103,167

134,338

45,229

40,988

101,435

422,304

1,521,215

5,095,365

1,917,829

758,452

471,852

709,763

837,951

1,129,557

349,006

486,378

730,992

1,359,125

1,179,856

511,184

764,029

14,148,586

1,185,059

180,414

87,549

93,090

1,597,879

119,120

90,639

12,911

69,208

652,201

106,533

12,174

9,522

2,885

369,042

11,091

108,150

35,350

69,389

998,092

89,408

3,231,342

542,728

1,131,550

1,973,066

1,586,326

167,085

50,754

52,880

301,421

257,058

48,689

4,882

86,495

197,289

235,738

26,153

4,959

12,156

16,795

25,719

327,763

72,129

83,674

155,027

149,669

426,963

11,834,428

3,187,300

2,099,526

1,479,352

79,847

1,159,758

434,725

259,297

363,260

6,637

1,479,369

151,427

130,872

109,039

3,687

128,483

23,903

5,855

5,881

27,233

940,157

235,096

189,400

129,866

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky............................. 380 561,784 717,438 81,000 636,331 13,772 2,010,325 1,491,046 165,163 202,537 11,785 139,794

Louisiana.............................. 167 645,845 803,617 191,135 573,365 26,037 2,239,999 1,504,016 347,385 253,723 16,136 118,739 Maine................................... 96 124,403 346,599 96,762 295,073 8,169 871,006 726,332 40,359 11,022 4,672 88,621 Maryland............................. 165 486,001 1,102,330 193,552 710,195 43,786 2,535,864 2,028,396 182,384 116,312 16,662 192,110 Massachusetts.................... 368 1,247,092 3,398,906 791,775 3,664,334 122,934 9,225,041 7,373,439 448,836 400,633 113,293 888,840

Michigan.............................. 429 1,490,691 2,917,292 572,074 2,009,717 65,598 7,055,372 5,775,518 602,854 236,106 65,931 374,963 Minnesota............................ 680 773,194 1,286,792 335,908 1,263,965 30,189 3,690,048 2,766,802 283,114 365,496 32,826 241,810 Mississippi........................... 202 252,588 299,158 136,607 278,607 9,650 976,610 703,317 141,032 66,887 4,368 61,006 Missouri............................... 598 1,448,316 1,740,876 322,308 1,863,790 43,487 5,418,777 3,794,752 424,707 821,587 39,163 338,568 Montana.............................. 109 165,413 295,857 43,890 177,520 7,701 690,381 556,181 67,349 30,274 6,001 30,576

Nebraska.............................. 417 417,953 580,797 115,787 510,469 9,774 1,634,780 1,225,858 135,370 164,532 6,992 102,028 Nevada................................. 8 47,333 101,225 12,656 75,587 3,236 240,037 192,703 30,490 1,567 2,692 12,585 New Hampshire................. 109 77,794 261,844 71,652 276,820 5,659 693,769 579,384 24,217 9,273 2,604 78,291

New Jersey.......................... 335 1,056,127 2,497,950 785,623 2,097,904 85,759 6,523,363 5,493,490 467,607 71,392 47,030 443,844

New Mexico........................ 51 142,408 176,063 12,848 133,380 5,069 469,768 334,682 96,498 13,270 1,564 23,754

New York............................ 734 10,608,411 15,896,578 4,274,453 22,795,534 845,591 54,420,567 40,655,308 2,395,724 5,370,215 1,419,928 4,579,392 North Carolina................... 226 608,989 730,806 241,563 798,024 28,969 2,408,351 1,670,250 274,303 264,805 42,670 156,323 North Dakota.................... 153 110,688 340,265 51,541 149,859 3,886 656,239 474,064 125,122 13,284 3,637 40,132 Ohio....................................... 654 2,040,085 3,784,621 746,227 3,090,162 97,019 9,758,114 7,851,171 849,479 376,425 77,322 603,717 Oklahoma............................ 385 626,349 688,511 183,177 644,234 20,014 2,162,285 1,554,071 240,084 206,169 15,577 146,384

Oregon.................................. 69 357,284 563,724 141,633 677,291 24,932 1,764,864 1,405,625 182,374 43,638 19,869 113,358 Pennsylvania...................... 947 2,825,860 4,722,099 1,817,852 4,726,400 181,406 14,273,617 11,324,173 808,297 721,026 106,009 1,314,112 Rhode Island...................... 21 168,454 492,960 93,636 451,458 17,506 1,224,014 1,033,851 66,059 13,391 12,318 98,395 South Carolina................... 149 246,480 332,570 74,222 239,224 7,577 900,073 674,501 135,239 31,443 5,877 53,013 South Dakota..................... 170 122,121 245,520 33,770 186,814 4,576 592,801 479,474 62,302 11,772 2,765 36,488

Tennessee............................ 297 670,072 732,999 148,785 900,038 36,169: 2,488,063 1,741,956 211,631 345,342 27,122 162,012

Texas..................................... 919 3,013,936 2,553,487 459,352 3,023,930 153,197) 9,203,902 6,484,442 837,846 1,254,252 74,213 553,149 Utah...................................... 55 165,466 264,565 38,850 270,311 6,187 745,379 563,007 86,693 46,127 6,061 43,491 Vermont............................... 74 54,036 118,149 27,712 213,668 4,403 417,968 358,445 16,480 1,524 2,214 39,305 Virginia................................ 315 637,222 873,223 155,524 880,750 31,074 2,577,793 1,912,051 247,352 211,393 28,908 178,089

Washington......................... 121 565,130 789,464 247,905 987,519 30,178 2,620,196 2,137,517 213,173 84,187 20,953 164,366 West Virginia...................... 182 266,633 458,510 70,789 331,671 11,074 1,138,677 865,172 125,964 45,324 6,974 95,243 Wisconsin............................ 557 774,288 1,598,631 266,218 1,071,744 29,975 3,740,856 3,128,548 218,359 152,724 13,333 227,892 Wyoming.............................. 52 88,841 133,711 15,397 93,568 2,421 333,938 260,968 41,279 11,552 1,447 18,692

Other area

Alaska................................... 19 34,357 59,253 7,283 37,410 1,591 139,894 91,896 39,449 1,533 200 6,816 American Samoa................ 1 397 916 59 9 1,381 912 282 31 3 153 Hawaii.................................. 9 84,311 133,205 27,610 187,785 8,322 441,233 321,693 77,723 3,857 2,648 35,312 Mariana Islands7............... 927 4,226 14,340 19,493 10,725 8,595 173 Panama Canal Zone7........ 3,778 3,785 1,240 13,223 22,026 11,660 10,137 226 3

Puerto Rico7........................ 11 54,989 70,596 39,743 184,240 14,140 363,708 184,717 98,206 12,050 24,939 43,796 Virgin Islands..................... 2 952 2,964 345 1,624 77 5,962 4,255 1,175 34 72 426

1 Includes 21 noninsured banks of deposit (2 in Colorado, 13 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. O

7 Includes asset and liability data for the following branches of insured banks in continental United States: 3 noninsured branches in the Mariana Islands (2 in Guam and

1 in Saipan); 4 noninsured branches in the Panama Canal Zone and 9 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, 191^5-1951: See the Annual Report for 1951, pp. 146-147, and earlier reports.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
D e c e m b e r 31, 1952, Ju n e 30, 1952, an d D e c e m b e r 31, 1951 oo

(Amounts in thousands of dollars)

Table 109. A s s e t s a n d L i a b i l i t i e s o p O p e r a t in g I n s u r e d 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 ), h-*.

Assets

All insured banks Insured commercial banks1 Insured mutual savings banks

Dec. 31,

1952

June 30,

1952

Dec. 31,

1951

Dec. 31,

1952

June 30,

1952

Dec. 31,

1951

Dec. 31,

1952

June 30,

1952

Dec. 31,

1951

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

Gash, balances with other banks, and cash collection items—total.................................................

Currency and coin................................................................

Reserve with Federal Reserve banks (member banks)

Demand balances with banks in the United States

(except private banks and American branches of

foreign banks)....................................................................

Other balances with banks in the United States.........

Balances with banks in foreign countries......................

Cash items in process of collection..................................

Obligations of the U. S. Government, direct and

guaranteed—total....................................................

Direct:

Treasury bills.....................................................................

Treasury certificates of indebtedness..........................

Treasury notes...................................................................

United States non-marketable bonds2.......................

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 debentures3..............................

Corporate stocks:

Federal Reserve banks....................................................

Other corporate stocks....................................... ...........

Total securities.....................................................

205,293,919 193,222,175 194,578,227 186,682,180 175,339,474 177,449,151 18,611,739 17,882,701 17,129,076

45,030,818

2,842,118

19,810,476

11,882,646

257,638

75,000

10,162,940

41,074,197

2,459,068

19,332,503

10,364,239

253,277

40,005

8,625,105

44,937,079

2,776,754

19,911,777

11,954,486

224,865

48,929

10,020,268

44,299,249

2,749,835

19,809,084

11,479,724

41,961

75,000

10,143,645

40,318,023

2,384,038

19,331,231

9,929,047

34,931

40,005

8,598,771

44,241,808

2,685,709

19,910,524

11,557,184

41,034

48,929

9,998,428

731,569

92,283

1,392

402,922

215,677

.........19,295

756,174

75,030

1,272

435,192

218,346

.........26,334

695,271

91,045

1,253

397,302

183,831

.........21,840

69,001,513

7,740,928

5,516,726

11,759,564

3,931,721

18,495,897

12,426,254

9,092,649

37,774

66,916,304

6,168,406

7,722,792

11,148,082

3,855,155

19,274,863

8,965,563

7,324,395

2,420,215

36,833

67,520,274

7,282,152

7,552,399

11,325,691

3,716,878

19,859,577

7,096,592

7,973,044

2,687,372

26,569

62,408,171

7,628,585

5,504,308

11,739,757

2,594,867

18,350,452

11,205,784

5,362,222

.........22,196

60,186,402

6,091,890

7,663,625

11,124,643

2,530,683

19,110,107

8,001,829

3,370,776

2,268,004

24,845

60,598,835

7,222,718

7,535,527

11,273,671

2,486,509

19,644,837

7,024,142

3,055,244

2,334,965

21,222

6,593,342

112,343

12,418

19,807

1,336,854

145,445

1,220,470

3,730,427

.........15,578

6,729,902

76,516

59,167

23,439

1,324,472

164,756

963,734

3,953,619

152,211

11,988

6,921,439

59,434

16,872

52,020

1,230,369

214,740

72,450

4,917,800

352,407

5,347

16,209,028

10,303,933

5,469,385

252,600

183,110

15,824,647

9,865,048

5,574,713

245,158

139,728

14,820,037

9,153,703

5,317,587

236,665

112,082

13,872,272

10,006,206

3,509,325

252,542

104,199

13,740,753

9,652,108

3,742,570

245,102

100,973

13,073,973

9,016,262

3,720,191

236,612

100,908

2,336,756

297,727

1,960,060

58

78,911

2,083,894

212,940

1,832,143

56

38,755

1,746,064

137,441

1,597,396

53

11,174

85,210,541 82,740,951 82,340,311 76,280,443 73,927,155 73,672,808 8,930,098 8,813,796 8,667,503

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Loans and discounts, net— total.................................... 72,515,153 66,903,761 64,893,681 63,824,310 58,860,741 57,370,794 8,690,843 8,043,020 7,522,887

Valuation reserves4................................................................... 1,058,629 1,014,641 978,553 903,935 851,354 813,589 154,694 163,287 164,964

Loans and discounts, gross— total................................ 73,573,782 67,918,402 65,872,234 64,728,245 59,712,095 58,184,383 8,845,537 8,206,307 7,687,851

Commercial and industrial loans (including open

market paper)................................................................... 27,840,851 25,255,327 25,810,387 27,815,944 25,232,047 25,787,675 24,907 23,280 22,712

Loans to farmers directly guaranteed by the Com683,769 74,014 278,923 683,769 74,014 278,923

Other loans to farmers (excluding loans on real

estate)................................................................................. 3,142,286 3,497,510 3,053,496 3,140,789 3,496,032 3,052,222 1,497 1,478 1,274

2,050,295 2,105,942 1,570,593 2,050,295 2,105,942 1,570,593

Other loans for the purpose of purchasing or carrying

securities............................................................................. 1,084,794 944,542 962,409 1,083,439 943,261 961,293 1,355 1,281 1,116

Real estate loans— total..................................................... 24,368,814 23,046,854 22,092,752 15,615,871 14,925,215 14,487,412 8,752,943 8,121,639 7,605,340

Farm land........................................................................... 1,091+,691+ 1,077,635 1,018,61*7 1,036,500 1,01+0,977 982,711 58,191+ 36,658 35,936

Residential properties:

Insured by F H A ........................................................... 6,152,296 5,975,707 5,61+9,203 3,607,833 3,372,11+1 3,351+,1+37 2,81+1+,U63 2,603,566 2,291+,766

Insured or guaranteed by V A .................................... A,1+97,823 A,203,509 U,029,731+ 2,971,31+9 2,913,310 2,882,086 1,526,1+71+ 1,290,199 1,11+7,61+8

Not insured or guaranteed by FH A or V A ............. 8,581+,913 8,202,51^ 7,939,915 5,1+16,693 5,127,582 1+, 81+1+3730 3,168,220 3,071+,932 3,095,185

Other properties.................................................................. 3,739,088 3,587,1+89 3,1+55,253 2,583,1+96 2,1+71,205 2,1+23,1+1+8 1,155,592 1,116,281+ 1,031,805

Other loans to individuals................................................. 12,699,259 11,417,027 10,451,397 12,641,861 11,363,425 10,399,389 57,398 53,602 52,008

Loans to banks...................................................................... 157,357 153,430 148,838 157,357 153,430 148,838

All other loans (including overdrafts)............................ 1,546,357 1,423,756 1,503,439 1,538,920 1,418,729 1,498,038 ...........7,437 5,027* ...........5,40*1*

Total loans and securities.................................... 157,725,694 149,644,712 147,233,992 140,104,753 132,787,896 131,043,602 17,620,941 16,856,816 16,190,390

Bank premises, furniture and fixtures, and other

real estate— total.......................................................... 1,519,992 1,468,917 1,410,907 1,414,150 1,370,241 1,315,650 105,842 98,676 95,257

Bank premises....................................................................... 1,127,997 1,092,465 1,054,064 1,028,685 999,431 964,355 99,312 93,034 89,709

Furniture and fixtures......................................................... 266,107 252,529 231,271 262,113 249,115 228,292 3,994 3,414 2,979

Real estate owned other than bank premises............... 31,648 31,200 27,383 29,112 28,972 24,814 2,536 2,228 2,569

Investments and other assets indirectly representing

bank premises or other real estate.............................. 94,240 92,723 98,189 94,240 92,723 98,189

Miscellaneous assets— tota l............................................. 1,017,415 1,034,349 996,249 864,028 863,314 848,091 153,387 171,035 148,158

Customers’ liability on acceptances outstanding......... 328,600 289,832 330,275 328,600 289,832 330,275

Income accrued but not collected.................................... 376,081 386,557 344,443 307,684 321,024 283,164 ........ 68,397 .........65,533 ........ 61,279

Prepaid expenses................................................................... 47,437 56,371 41,780 44,018 52,813 39,438 3,419 3,558 2,342

Other assets............................................................................ 265,297 301,589 279,751 183,726 199,645 195,214 81,571 101,944 84,537

RATIOS

Percentages of total assets:

Cash and balances with other banks.............................. 21.9% 21.3% 23.1% 23.7% 23.0% 24.9% 3.9% 4.2% 4.1%

U. S. Government obligations, direct and guaranteed 33.6 34.6 34.7 33.5 34.3 34.2 35.4 37.6 40.4

Other securities..................................................................... 7.9 8.2 7.6 7.4 7.8 7.4 12.6 11.7 10.2

Loans and discounts............................................................ 35.3 34.6 33.4 34.2 33.6 32.3 46.7 45.0 43.9

Other assets............................................................................ 1.3 1.3 1.2 1.2 1.3 1.2 1.4 1.5 1.4

Total capital accounts......................................................... 7.0 7.2 7.0 6.7 7.0 6.7 9.3 9.5 9.8

ASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
D e c e m b e r 31, 1952, J u n e 30, 1952, a n d D e c e m b e r 31, 1951— Continued

(Amounts in thousands of dollars)

T a b l e 1 0 9 . A s s e t s a n d L i a b i l i t i e s o f O p e r a t in g I n s u r e d B a n k s i n 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 ),

Liabilities and capital

All insured banks

Dec. 31,

1952

June 30,

1952

Dec. 31,

1951

Insured commercial banks1

Dec. 31,

1952

June 30,

1952

Dec. 31,

1951

Insured mutual savings banks

Dec. 31,

1952

June 30,

1952

Dec. 31,

1951

15,697,660

4,939,177

326,455

8,819,091

1,612,937

Total liabilities and capital accounts............................ 205,293,919

Business and personal deposits—tota l...................... 157,411,509

Deposits of individuals, partnerships, and corporations—demand..................................................... 98,917,066

Deposits of individuals, partnerships, and corporations—time........................................................... 55,540,770

Certified and officers’ checks, cash letters of credit 

and travelers’ checks outstanding, and amounts 

due to Federal Reserve banks................................... 2,953,673

Governm ent deposits— total.................................

United States Government—demand...................

United States Government— time.........................

States and subdivisions—demand.........................

States and subdivisions—time...............................

Interbank and postal savings deposits—to ta 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...........................................................

Total deposits........................................................... 188,142,050

Demand........................................................................... 130,022,320

Tim e................................................................................. 58,119,730

Miscellaneous liabilities—total

Bills payable, rediscounts, and other liabilities for

borrowed money..................................

Acceptances outstanding........................

Dividends declared but not yet payable

Income collected but not earned...........

Expenses accrued and unpaid................

Other liabilities................................................................ 1.

Total liabilities (excluding capital accoun ts). . 190,978,385

193,222,175 194,578,227 186,682,180 175,339,474 177,449,151 18,611,739 17,882,701 17,129,076

147,143,467

90,949,231

53,459,125

2,735,111

150,270,859

95,713,341

51,393,354

3,164,164

140,639,327

98,897,813

38,794,901

2,946,613

131,073,895

90,936,853

37,409,999

2,727,043

134,914,676

95,701,243

36,056,623

3,156,810

16,772,182

19,253

16,745,869

7,060

16,069,572

12,378

16,049,126

8,068

15,356,183

12,098

15,336,731

7,354

16,421,211

5,805,921

291,726

8,713,372

1,610,192

13,457,573

3,354,532

262,478

8,315,612

1,524,951

15,686,714

4,936,857

326,449

8,817,570

1,605,838

16,411,545

5,804,419

291,679

8,712,097

1,603,350

13,447,272

3,352,195

262,417

8,314,292

1,518,368

10,946

2,320

6

1,521

7,099

9,666

1,502

47

1,275

6,842

10,301

2,337

i M 61

1,320

6,583

15,032,881

12,955,589

44,124

1,437,724

562,903

32,541

13,138,681

11,290,417

35,163

1,339,032

441,672

32,397

14,811,554

12,974,702

28,766

1,380,772

399,877

27,437

15,030,986

12,955,539

42,279

1,437,724

562,903

32,541

13,137,029

11,290,367

33,561

1,339,032

441,672

32,397

14,810,001

12,974,677

27,238

1,380,772

399,877

27,437

1,895

50

1,845

1,652

50

1,602

1,553

25

1,528

176,703,359

120,833,08b

55,870,275

178,539,986

12 b,903,123

53,636,863

171,357,027

129,992,116

U1,36 b,911

160,622,469

120,809,811

39,812,658

163,171,949

12b,879,989

38,291,960

16,785,023

30,20b

16,75 b,819

16,080,890

23,273

16,057,617

15,368,037

23,13 b

15,3bb,903

2,836,335

188,785

347,917

75,875

487,376

736,296

.,000,086

2,515,973

91,334

307,894

73,345

384,746

622,524

1,036,130

2,437,677

38,436

357,487

75,339

326,836

625,081

1,014,498

2,739,919

188,785

347,917

71,264

484,173

726,833

920,947

2,414,057

91,145

307,894

60,809

382,384

609,962

961,863

2,354,385

37,986

357,487

67,559

324,788

617,748

948,817

96,416 101,916

\89

83,292

450

4,611

3,203

9,463

79,139

12,536

2,362

12,562

74,267

7,780

2,048

7,333

65,681

179,219,332 180,977,663 174,096,946 163,036,526 165,526,334 16,881,439 16,182,806 15,451,329

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Capital accounts— total.................................................

Capital stock, notes, and debentures.............................

Surplus....................................................................................

Undivided profits..................................................................

Reserves..................................................................................

MEMORANDA

Pledged assets and securities loaned.........................

Capital stock, notes, and debentures:

Par or face value— total.............................................

Common stock..................................................................

14,315,534

3,876,080

7,208,239

2,677,798

553,417

14,002,843

3,833,399

6,907,544

2,732,768

529,132

13,600,564

3,699,029

6,720,891

2,642,418

538,226

12,585,234

3,876,080

5,938,187

2,306,828

464,139

12,302,948

3,833,399

5,666,133

2,352,579

450,837

11,922,817

3,699,029

5,503,601

2,258,863

461,324

1,730,300

(5)

1,270,052

370,970

89,278

1,699,895

(5)

1,241,411

380,189

78,295

1,677,747

(5)

1,217,290

383,555

76,902

19,900,745 20,408,172 17,786,942 19,900,745 20,408,172 17,786,942

3,881,129

3,818,444

29,877

32,808

3,839,154

3,768,635

28,853

41,666

3,705,417

3,630,781

23,783

50,853

3,876,279

3,818,444

25,027

32,808

3,834,029

3,768,635

23,728

41,666

3,699,717

3,630,781

18,083

50,853

4,850 5,125 5,700

Capital notes and debentures.......................................

Preferred stock.................................................................. 4,850 5,125 5,700

Retirable value of preferred stock................................... 71,561 86,615 102,966 71,561 86,615 102,966

Number of banks.......................................................................... 13,645 13,655 13,657 13,439 13,450 13,455 206 205 202

1 Includes stock savings banks.

2 United States savings bonds, Treasury bonds (investment series A-1965, and B-1975-80), and depositary bonds.

3 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.

4 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.

5 Not reported separately. Included with “ Reserves."

Back figures, 1934-1951: See the Annual Report for 1951, pp. 148-151, and earlier reports.

ASSETS AND LIABILITIES OF OPERATING BANKS

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Federal Reserve Bank of St. Louis
E a r n i n g s , E x p e n s e s , a n d D iv i d e n d s o f I n s u r e d B a n k s

Table 110. 

Table 111. 

Table 112.

Table 113.

Table 114.

Table 115.

Table 116. 

Table 117.

Earnings, expenses, and dividends of insured commercial banks in the United States 

(continental U. S. and other areas), 1944-1952

Ratios of earnings, expenses, and dividends of insured commercial banks in the 

United States (continental U. S. and other areas), 1944-1952

Earnings, expenses, and dividends of insured commercial banks in the United States 

(continental U. S. and other areas), 1952 

By class of bank

Ratios of earnings, expenses, and dividends of insured commercial banks in the 

United States (continental U. S. and other areas), 1952 

By class of bank

Earnings, expenses, and dividends of insured commercial banks operating throughout 

1952 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 1952 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, 1952

Income, expenses, and dividends of insured mutual savings banks, 1952

Table 118. Ratios of income, expenses, and dividends of insured mutual savings banks, 1952

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
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 9 insured

branches in Puerto Rico of insured national banks in New York are

not available.

On December 8, 1947, the Commissioner of Internal Revenue issued

Comm. Mimeograph Coll. No. 6209 entitled, “Reserve Method of

Accounting for Bad Debts in the Case of Banks.” (See pp. 82-84 in

the 1947 Annual Report.) Under this ruling, banks are permitted to

accumulate limited amounts of tax-free reserves for bad debt losses on

loans. As a result, since 1947 unusually large amounts were set aside

from income to valuation reserves, and net profits were decreased

accordingly. 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 110-113 and 116

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 Puerto Rico of insured national banks in New York. Consequently, the asset and liaCommercial banks bility 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 114, and utilized for computation

of ratios shown in Table 115, are for the identical banks to which the

earnings data pertain. For national banks and State banks members

of the Federal Reserve System, assets and liabilities are as of December

31, 1952, and for other banks, are averages of beginning, middle, and

end of the year.

M u tu a l savings b an ks

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 1952 are given in Tables 117 and

118. Historical data 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 o f d ata

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.

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T ab le 110. 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 rc ia 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 ), 1944-1952

(Amounts in thousands of dollars)

Earnings or expense item 1944 1945 1946 1947 1948 1949 1950 1951 1952

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....................

Trust department..................................................

Other current operating earnings......................

2,214,905

| 1,090,253

680,708

17,320

107,375

78,485

112,486

128,278

2,482,278

( 1,132,977

{ 167,198

707,738

18,860

109,789

90,617

120,317

134,782

2,862,875

1,218,517

176,620

936,554

14,564

124,696

97,995

140,340

153,589

3,097,670

1,079,535

179,408

1,263,788

18,386

147,761

97,264

144,734

166,794

3,403,586

1,008,138

189,559

1,577,633

22,315

173,791

97,456

156,678

178,016

3,606,879

1,013,515

201,691

1,733,690

26,090

194,013

95,420

160,430

182,030

3,930,696

1,015,456

225,425

1,976,100

31,724

212,272

104,602

180,674

184,445

4,395,411

983,662

249,495

2,390,106

34,595

230,507

116,140

192,313

198,593

4,931,688

1,099,059

276,993

2,742,100

42,295

244,696

121,868

204,967

199,713

Current operating expenses— total................

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.....................

1,356,680

240,354

386,346

12,907

186,773

1,112

97,307

41,845

390,036

1,522,778

266,018

424,881

14,610

233,321

2,448

98,683

40,329

442,488

1,762,634

309,220

521,709

16,936

268,624

2,364

96,314

40,850

506,617

1,981,787

344,845

602,266

18,954

298,274

2,656

103,516

42,276

569,000

2,163,514

381,756

662,696

20,859

316,570

3,432

106,163

48,271

623,767

2,283,727

410,685

700,065

22,608

328,010

3,582

113,569

53,988

651,219

2,444,534

446,043

755,681

24,745

343,040

4,296

128,101

59,469

683,159

2,701,313

486,300

864,519

27,343

385,344

9,667

135,590

65,845

726,707

3,028,575

530,035

965,197

30,871

458,059

20,921

139,290

74,953

809,252

Net current operating earnings....................... 858,225 959,500 1,100,241 1,115,883 1,240,072 1,323,153 1,486,164 1,694,100 1,903,112

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...................................................................

361,726

| 92,778

129,834

| 84,224

54,890

509,329

122,364

266,764

67,014

53,187

408,608

59,515

208,700

74,499

65,894

262,042

45,360

100,189

67,687

48,806

266,439

f 29,221

[ 24,161

60,025

( 39,748

{ 48,934

64,350

213,187

16,412

26,672

73,196

23,142

28,220

45,546

245,461

14,718

38,639

90,469

28,506

29,971

43,157

169,233

15,292

12,285

56,563

22,595

28,453

34,046

144,146

11,191

20,492

33,806

22,004

27,330

29,324

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...................................................................

265,881

| 110,439

| 70,090

85,352

264,122

132,870

55,901

75,351

283,175

132,254

71,253

79,668

294,286

118,498

120,370

55,418

485,753

( 78,590

\ 40,941

f 32,393

{ 278,666

55,163

379,824

38,671

33,044

29,064

221,167

57,878

366,932

38,721

54,518

23,030

191,248

59,414

395,687

83,756

31,680

21,215

204,202

54,836

362,444

97,512

29,531

23,637

154,510

57,253

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............................

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...........

954,070 1,204,707 1,225,674 1,083,639 1,020,758 1,156,514 1,364,690 1,467,645 1,684,813

202,821

187,032

15,789

298,795

277,538

21,257

323,328

301,048

22,280

302,242

283,046

19,196

275,422

258,490

16,932

325,148

304,572

20,576

427,776

402,582

25,194

559,475

530,810

28,664

694,883

662,277

32,606

751,249 905,912 902,346 781,397 745,336 831,364 936,915 908,175 989,931

253,193

13,645

239,548

274,438

11,769

262,669

298,983

8,345

290,638

315,215

5,981

309,234

331,833

5,230

326,603

354,144

5,093

349,052

391,249

4,333

386,916

418,860

3,876

414,984

441,971

3,675

438,298

498,056 631,474 603,363 466,182 413,503 477,220 545,666 489,315 547,961

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...................................................................

0)

Q)

i1)

0)

0)

C1)

0)

0)

«

0)

C1)

(*)

C1)

0)

(l)

7,224

10,844

18,031

46,487

2,600

19,645

6,104

72,978

3,565

223,507

6,324

257,733

2,363

28,477

17,725

64,735

4,355

31,508

25,598

64,607

Average assets and liabilities3

Assets— total.......................................................

Cash and due from banks...................................

United States Government obligations...........

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..........................................

123,168,863

28,042,727

67,231,161

6,088,482

20,310,112

1,496,381

145,217,438

31,236,090

82,417,236

6,623,089

23,500,772

1,440,251

151,896,770

33,286,775

81,835,381

7,556,923

27,768,296

1,449,395

148,170,261

34,279,792

70,229,835

8,315,081

33,863,334

1,482,219

150,726,513

36,247,026

64,291,298

8,872,676

39,650,962

1,664,551

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

59,999,743

2,223,391

123,168,863

114,682,390

93,267,11^

21,1+15,276

768,280

7,718,193

145,217,438

135,948,387

108,968,917

26,979,1+70

934,381

8,334,670

151,896,770

141,829,678

109,890,600

31,939,078

1,057,079

9,010,013

148,170,261

137,537,907

103,159,25k

3k,378,653

1,104,386

9,527,968

150,726,513

139,517,461

10k,195,063

35,322,398

1,257,852

9,951,200

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 ,kk6,656

1,710,204

11,007,396

169,207,394

155,460,465

118,189,171

37,271,29k

2,131,162

11,615,767

179,803,463

165,031,495

125,213,8k2

39,817,653

2,501,055

12,270,913

Number of active officers, December 31.............

Number of other employees, December 31.........

56,494

229,377

59,119

245,275

62,697

271,395

65,740

284,072

67,609

292,015

69,439

296,308

71,566

312,324

73,806

334,961

76,754

358,325

Number of banks, December 31............................ 13,268 13,302 13,359 13,403 13,419 13,436 13,446 13,455 13,439

Note: Due to rounding, earnings data of State banks for 1949 through 1952 may not add precisely to the indicated totals.

1 Not available.

* xveviseu.

* Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 193^-19^3: See the following Annual Reports: 1950, pp. 250-251, and 1941, pp. 158-159.

CnEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

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Federal Reserve Bank of St. Louis
Table 111. 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 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 ), 1944-1952

Earnings or expense item 1944 1945 1946 1947 1948 1949 1950 1951 1952

Am ounts per $100 of current operating

earnings

Current operating earnings— total................. $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Interest on U. S. Government obligations. . . J 49.22 ( 45.64 42.56 34.85 29.62 28.10 25.83 22.38 22.29

Interest and dividends on other secutiries___ \ 6.74 6.17 5.79 5.57 5.59 5.74 5.68 5.62

Income on loans..................................................... 31.52 29.27 33.22 41.39 47.01 48.79 51.08 55.17 56.46

Service charges on deposit accounts................. 4.85 4.42 4.36 4.77 5.11 5.38 5.40 5.24 4.96

Other service charges, commissions, fees, and

collection and exchange charges.................... 3.54 3.65 3.42 3.14 2.86 2.65 2.66 2.64 2.47

Other current operating earnings...................... 10.87 10.28 10.27 10.06 9.83 9.49 9.29 8.89 8.20

Current operating expenses— total................. 61.25 61.35 61.57 63.98 63.57 63.32 62.19 61.46 61.41

Salaries, wages, and fees..................................... 28.88 28.42 29.62 31.19 31.30 31.42 31.20 31.35 30.95

Interest on time and savings deposits............. 8.43 9.40 9.38 9.63 9.30 9.10 8.73 8.77 9.29

Taxes other than on net income........................ 4.39 3.98 3.36 3.34 3.12 3.15 3.26 3.09 2.82

Recurring depreciation on banking house,

furniture and fixtures....................................... 1.89 1.62 1.43 1.36 1.42 1.50 1.51 1.50 1.52

Other current operating expenses...................... 17.66 17.93 17.78 18.46 18.43 18.15 17.49 16.75 16.83

Net current operating earnings....................... 38.75 38.65 38.43 36.02 36.43 36.68 37.81 38.54 38.59

Am ounts per $100 of total assets1 

Current operating earnings— total........................ 1.80 1.71 1.88 2.09 2.26 2.38 2.47 2.60 2.74

Current operating expenses— total........................ 1.10 1.05 1.16 1.34 1.44 1.51 1.54 1.60 1.68

Net current operating earnings.............................. .70 .66 .72 .75 .82 .87 .93 1.00 1.06

Recoveries, transfers from reserve accounts,

and profits— total.............................................. .29 .35 .27 .18 .18 .14 .16 .10 .08

Losses, charge-offs, and transfers to reserve

accounts— total...................................................... .22 .18 .18 .20 .32 .25 .23 .23 .20

Net profits before income taxes............................. .77 .83 .81 .73 .68 .76 .86 .87 .94

Net profits after income taxes................................ .61 .62 .59 .53 .49 .55 .59 .54 .55

Am ounts per $100 of total capital

accounts1

Net current operating earnings.............................. 11.12 11.51 12.21 11.71 12.46 12.70 13.50 14.58 15.51

Recoveries, transfers from reserve accounts,

and profits— total.................................................. 4.69 6.11 4.53 2.75 2.68 2.04 2.23 1.46 1.17

Losses, charge-offs, and transfers to reserve

accounts— total...................................................... 3.45 3.16 3.14 3.09 4.88 3.64 3.33 3.41 2.95

Net profits before income taxes............................. 12.36 14.46 13.60 11.37 10.26 11.10 12.40 12.63 13.73

Taxes on net income.................................................. 2.63 3.59 3.59 3.17 2.77 3.12 3.89 4.81 5.66

Net profits after income taxes................................ 9.73 10.87 10.01 8.20 7.49 7.98 8.51 7.82 8.07

Cash dividends declared........................................... 3.28 3.29 3.32 3.31 3.33 3.40 3.55 3.61 3.60

Net additions to capital from profits.................... 6.45 7.58 6.69 4.89 4.16 4.58 4.96 4.21 4.47

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Special ratios1

Income on loans per $100 of loans........................

Income on securities per $100 of securities.........

Service charges per $100 of demand deposits...

Interest paid per $100 ol time and savings

deposits.....................................................................

3.44

1.49

.12

.87

3.09

1.46

.10

.87

3.43

1.56

.11

.84

3.79

1.60

.14

.87

4.04

1.64

.17

.90

4.22

1.68

.19

.91

4.34

1.66

.19

.94

4.45

1.71

.20

1.03

4.64

1.84

.20

1.15

Assets and liabilities per $100 of total

assets1

Assets— total............................................................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Cash and due from banks................................... 22.77 21.51 21.91 23.14 24.05 23.55 22.65 23.86 23.89

United States Government obligations........... 54.59 56.76 53.88 47.40 42.65 41.62 40.16 35.29 33.96

Other securities...................................................... 4.94 4.56 4.98 5.61 5.89 6.19 6.94 7.42 7.54

Loans and discounts............................................. 16.49 16.18 18.28 22.85 26.31 27.49 29.09 32.23 33.37

All other assets....................................................... 1.21 .99 .95 1.00 1.10 1.15 1.16 1.20 1.24

Liabilities ajid capital— total............................ 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits......................................................... 93.11 93.62 93.37 92.82 92.56 92.21 92.00 91.88 91.78

Demand deposits................................................. 75.72 75.04 72.34 69.62 69.13 68.52 69.08 69.85 69.64 Time and savings deposits................................ 17.39 18.5S 21.03 23.20 23.43 23.69 22.92 22.03 22.14 Borrowings and other liabilities........................ .62 .64 .70 .75 .84 .91 1.08 1.26 1.39

Total capital accounts.......................................... 6.27 5.74 5.93 6.43 6.60 6.88 6.92 6.86 6.83

Number of banks, December 31............................ 13,268 13,302 13,359 13,403 13,419 13,436 13,446 13,455 13,439

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1984-191*3: See the following Annual Reports: 1950, pp. 252-253, and 1941, pp. 160-161.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

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Federal Reserve Bank of St. Louis
T a b le 112. E a r n in g s , E x p e n ses, and D iv id e n d s o f In s u r e d C o m m e rc ia l B a n k s in t h e

U n ite d S t a t e s (C o n tin e n ta l U . S. an d O t h e r A r e a s ), 1952

BY CLASS OF BANK

(Amounts in thousands of dollars)

Members F. R. System Not

members

F. R.

System

Operating

throughout

the year

Operating

less than

full year1

Earnings or expense item Total

National State

Current operating earnings— total..................................................................... 4,931,688 2,741,239 1,377,815 812,634 4,915,283 16,405

Interest on U. S. Government obligations......................................................... 1,099,059 631,986 297,050 170,023 1,096,289 2,770

Interest and dividends on other securities........................................................... 276,993 163,933 70,562 42,498 276,473 520

Interest and discount on loans............................................................................... 2,742,100 1,531,404 738,267 472,429 2,735,627 6,473

Service charges and fees on bank’s loans............................................................. 42,295 24,013 11,921 6,361 42,176 119

Service charges on deposit accounts......................................................................

Other service charges, commissions, fees, and collection and exchange

244,696 135,759 61,975 46,962 243,777 919

121,868 52,596 30,269 39,003 121,521 347

204,967 80,604 113,824 10,539 200,722 4,245

Other current operating earnings........................................................................... 199,713 120,944 53,949 24,820 198,700 1,013

3,028,575 1,655,395 845,178 528,002 3,016,649 11,926

Salaries— officers......................................................................................................... 530,035 270,729 137,536 121,770 527,681 2,354

Salaries and wages— employees..............................................................................

Fees paid to directors and members of executive, discount, and other

965,197 533,368 301,881 129,948 961,705 3,492

30,871 14,511 6,998 9,362 30,736 135

Interest on time and savings deposits.................................................................. 458,059 259,655 104,538 93,866 456,907 1,152

Interest and discount on borrowed money.......................................................... 20,921 12,711 7,114

39,221

1,096 20,915 6

Taxes other than on net income............................................................................ 139,290 78,424 21,645 138,902 388

Recurring depreciation on banking house, furniture and fixtures................. 74,953 41,998 18,063 14,892 74,687 266

Other current operating expenses.......................................................................... 809,252 443,999 229,827 135,426 805,117 4,135

Net current operating earnings............................................................................ 1,903,112 1,085,844 532,637 284,631 1,898,633 4,479

Recoveries, transfers from reserve accounts, and profits— total........... 144,146 81,000 44,007 19,139 143,121 1,025

On securities:

11,191 6,884 3,070 1,237 11,085 106

20,492 14,844 4,802 846 20,388 104

On loans:

33,806 20,162 8,885 4,759 33,705 101

22,004 11,600 5,366 5,038 21,948 56

27,330 14,949 9,785 2,596 27,310 20

29,324 12,561 12,098 4,665 28,685 639

Losses, charge-offs, and transfers to reserve accounts— total................ 362,444 202,608 103,771 56,065 361,030 1,414

On securities:

97,512 61,088 22,762 13,662 96,873 639

29,531 16,738 10,302 2,491 29,530 1

On loans:

23,637 11,275 4,377 7,985 23,492 145

154,510 83,597 49,299 21,614 154,182 328

57,253 29,910 17,031 10,312 56,953 300

........ - '

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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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............................................................

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above)

On securities............................................................................................................

On loans..................................................................... ; ...........................................

Losses charges 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— total............................................................................

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............................................................................

1,684,813

694,883

662,277

32,606

989,931

441,971

3,675

438,298

547,961

964,236

404,011

386,891

17,120

560,225

258,507

397

258,110

301,718

472,873

203,839

191,791

12,048

269,034

131,923

1,913

130,011

137,111

247,704

87,033

83,595

3,438

160,672

51,541

1,365

50,177

109,132

1,680,723

692,938

660,430

32,507

987,787

440,986

3,606

437,382

546,801

4,090

1,945

1,847

99

2,144

985

69

916

1,160

4,355

31,508

25,598

64,607

2,374

21,302

15,291

40,765

1,934

6,786

9,351

14,173

47

3,420

956

9,669

4,345

31,474

25,598

64,471

10

34

136

179,803,463

42,952,808

61,065,059

13,562,462

59,999,743

2,223,391

103,848,413

25,403,918

35,167,438

8,198,063

33,791,661

1,287,332

51,398,957

12,777,835

16,702,983

3,311,079

17,908,905

698,155

24,556,093

4,771,055

9,194,638

2,053,320

8,299,177

237,903

179,803,463

165,031,495

125,213,842

39,817,653

2,501,055

12,270,913

103,848,413

95,288,907

73,190,101+

22,098,803

1,701,647

6,857,859

51,398,957

47,128,860

36,985,501

10,11+3,359

627,975

3,642,122

24,556,093

22,613,728

15,038,237

7,575,1+91

171,433

1,770,932

76,754

358,325

36,663

196,517

15,978

104,333

24,113

57,475

76,436

357,250

318

1,075

13,439 4,909 1,8: 6,644 13,367 72

Note: Due to rounding, 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, 1931+-1951: See Table 110, pp. 114-115. See also the Annual Report for 1951, pp. 166-167, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 119

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 113. R a t io s o f E a r n in g s, E x p e n s e s, an d D iv id e n d s of I n 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 TJ. S. a n d O t h e r A r e a s), 1952

BY CLASS OF BANK

Earnings or expense item Total

Members F. R. System Not

members

National State

F. R.

System

Amounts per $100 of current operating earnings

$100.00 $100.00 $100.00 $100.00

22.29 23.06 21.56 20.92

Interest End. dividends on other securities..................................................................................................... 5.62 5.98 5.12 5.23

Income on loans...................................................................................................................................................... 56.46 56.74 54.45 58.92

Service charges on deposit accounts................................................................................................................ 4.96 4.95 4.50 5.78

Other service charges, commissions, fees, and collection and exchange charges................................... 2.47 1.92 2.20 4.80

Other current operating earnings....................................................................................................................... 8.20 7.35 12.17 4.35

Current operating expenses—to ta l...................................................................................................... 61.41 60.39 61.34 64.97

Salaries, wages, and fees .................................................................................................................................... 30.95 29.86 32.40 32.13

Interest on time and savings deposits.............................................................................................................. 9.29 9.47 7.59 11.55

Taxes other than on net income......................................................................................................................... 2.82 2.86 2.84 2.66

Recurring depreciation on banking house, furniture and fixtures............................................................. 1.52 1.54 1.31 1.83

Other current operating expenses....................................................................................................................... 16.83 16.66 17.20 16.80

Net current operating earnings.............................................................................................................. 38.59 39.61 38.66 35.03

Amounts per $100 of total assets1

Current operating earnings— total . . ................................................................................................. 2.74 2.64 2.68 3.31

Current operating expenses— total................................ ........................................................................................ 1.68 1.59 1.64 2.15

Net current operating earnings............................................................................................................................. 1.06 1.05 1.04 1.16

Recoveries, transfers from reserve accounts, and profits— total................................................................... .08 .08 .08 .08

Losses charge-offs, and transfers to reserve accounts— total........................................................................ .20 .20 .20 .23

Net profits before income taxes...................................................................................................................... .94 .93 .92 1.01

Net profits after income taxes............................................................................................................................... .55 .54 .52 .65

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities .. ................................................................................................................................................ (2) (2) (2) (2)

On loans.................................................................................................................................................................... .02 .02 .01 .01

Losses charged to reserve accounts (not included in losses above):

.01 .01 .02 (2)

.04 .03 .04.04

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Amounts per $100 of total capital accounts1

Net current operating earnings................................................................. 15.51

1.17

15.83

1.18

2.95

14.06

5.89

8.17

3.77

4.40

14 62 f £ A 7

Recoveries, transfers from reserve accounts, and profits— total............... l !21

2.85

12.98

5.59

I D . U 4

1 . 0 8

3 . 1 6

1 Q Q Q

Losses, charge-offs, and transfers to reserve accounts— total. . . 2.95

Net profits before income taxes............................................................. 13.73

5.66

8.07

3.60

4.47

Taxes on net income................................................................................. i u . y y

A 0 9

Net profits after income taxes............................................................... 7.39 Q A 7

Cash dividends declared.................................................................................. 3*62

v .U 4

9 Q1

Net additions to capital from profits........................................................... 3.77

Li ,yi

a 1 a o . i o

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities................................................................................................ .04

.26

.21

.53

.03 .05 (2\

On loans......................................................................................................... *31 !l9

\z) 1 0

Losses charged to reserve accounts (not included in losses above):

On securities............................................................................................... .22

.59

.26

•iy

On loans................................................................................................ ’39

•UO

• 00

Special ratios1

Income on loans per $100 of loans........................................................... 4.64

1.84

.20

1.15

4.60

1.84

.19

1.17

4 19 K 7 7

Income on securities per $100 of securities................................................ l!84

.17

1.03

0. 1 4

1 fiQ

Service charges per $100 of demand deposits............................................ 1 *o£/

Q1

Interest paid per $100 of time and savings deposits...........................

.0 1 

1 24

Assets and liabilities per $100 of total assets1

Assets— total............................................................................. 100.00

23.89

33.96

7.54

33.37

1.24

100.00

24.46

33.87

7.89

1AA AA 1 A A A A

Cash and due from banks................................................................................... JLUU.UU

24.86

1 U U . U U

1 Q A Q

United States Government obligations....................................................... 32.50

± v . 4 0

Q 7 AA

Other securities.................................................................................. fC AA.

O i .44

O Q £

Loans and discounts............................................................................................. 32154

1.24

D .44 0 .0O

Q Q fifk

All other assets......................................................................................... 0 4 . 0 4 0 0.0U

1 .0 0 Q 7 .y 4

Liabilities and capital— total................................................... 100.00

91.78

69.64

100.00

91.76

1AA A A 1 A A A A

Total deposits......................................................................................................... X V V . u U

Q1 KQ

lUU.Utf

n o n n

Demand deposits...................................................................................................................... 70.48

S J. .ui/

Time and savings deposits..................................................................................................... 22.14 21.28

71 96

19 *73

61

Borrowings and other liabilities.................................................................... 1.39

6.83

1.64

6.60

1 9 9

30*85

7 A

Total capital accounts..................................................................................... n HQ 7 01 1 .uy

Number of banks, December 31......................................................................................... 13,439 4 909 1 886 ft iXAA 0 , 0 4 4

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

2 Less than .005.

Back figures, 1934-1951: See Table 111, pp. 116-117. See also the Annual Report for 1951, pp. 168-169, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANK S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
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 O p e r a t in g T h r o u g h o u t 1952

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 GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Banks with deposits of—2

Earnings or expense item All

banks1

$500,000

or

less

$500,000

to

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

More than

$100,000,000

Current operating earnings— total............ 4,915,283 6,145 45,758

(Amounts

153,729

i in thousand:

444,322

s of dollars)

438,305 927,817 380,565 2,518,643

Interest on U. S. Government obligations. 1,096,289 910 8,857 33,642 103,440 103,016 219,458 84,088 542,877

Interest and dividends on other securities.. 276,473 191 1,473 6,237 23,440 25,844 53,880

503,049

18,663 146,746

Interest and discount on loans...................... 2,735,627 4,071 28,941 93,433 261,633 248,954 210,132 1,385,413

Service charges and fees on bank’s loans... 42,176 80 253 733 1,838 2,968 6,444 3,300 26,562

Service charges on deposit accounts............. 243,777 267 2,164 7,716 25,185 28,611 63,126 21,181 95,528

Other service charges, commissions, fees

lection and exchange charges.....................

and col121,521 484 3,293 8,741 17,828 13,650 22,728 8,537 46,260

Trust department.............................................. 200,722 1 29 222 1,087 3,384 22,654 16,123 157,221

Other current operating earnings.................. 198,700 143 747 3,005 9,871 11,879 36,479 18,540 118,036

Current operating expenses— total............ 3,016,649 4,025 28,867 94,807 279,294 280,602 606,085 247,543 1,475,425

Salaries— officers................................................ 527,681 1,760 11,355 33,022 77,372

57,512

61,648 106,559 38,689 197,279

Salaries and wages— employees..................... 961,705 513 4,065 15,684 70,663 180,738 83,129 549,405

Fees paid to directors and members of

discount, and other committees................

executive,

30,736 97 807 2,707 7,284 5,450 7,052 1,861 5,479

Interest on time and savings deposits......... 456,907 335 3,565 14,139 47,882 49,498 100,449 33,610 207,430

Interest and discount on borrowed money. 20,915 4 30 107 293 414 1,718

27,982

1,229 17,122

Taxes other than on net income................... 138,902 203 1,221 4,281 13,009 13,084 11,445 67,679

Recurring depreciation on banking house,

and fixtures.....................................................

, furniture

74,687 81 685 2,497 8,766 9,058 19,221 7,088 27,290

Other current operating expenses................. 805,117 1,034 7,142 22,370 67,179 70,789 162,369 70,492 403,743

Net current operating earnings................... 1,898,633 2,120 16,891 58,922 165,028 157,703 321,731 133,021 1,043,218

Recoveries, transfers from reserve accounts, and

profits— total................................................................... 143,121 155 1,170 2,936 8,270 8,839 19,131 10,660 91,959

On securities:

11,085 5 52 168 570 1,445 1,733 1,168 5,945

Transfers from reserve accounts............... 20,388 3 19 30 244 469 1,618 1,181 16,826

Profits on securities sold or redeemed. . . 33,705 7 69 232 1,000 1,460 4,025 2,253 24,659

On loans:

Recoveries....................................................... 21,948 107 741 1,758 3,471 2,340 3,332 1,411 8,792

Transfers from reserve accounts............... 27,310 5 67 129 759 954 2,900 2,504 19,990

All other.............................................................. 28,685 28 222 620 2,226 2,173 5,525 2,144 15,748

Losses, charge-offs, and transfers to reserve accounts— total.................................................................. 361,030 317 2,679 8,508 29,152 31,814 68,683 31,087 188,792

On securities:

Losses and charge-offs.................................. 96,873 14 246 1,059 6,777 9,884 22,933 9,403 46,557

Transfers to reserve accounts.................... 29,530 2 18 253 725 865 2,932 2,255 22,482

On loans:

Losses and charge-offs.................................. 23,492 184 1,315 3,289 6,520 4,052 4,497 1,302 2,333

Transfers to reserve accounts.................... 154,182 66 612 2,355 9,193 11,366 26,411 13,021 91,159

All other............................................................... 56,953 50 489 1,552 5,938 5,649 11,912 5,107 26,261

FEDERAL DEPOSIT INSURANCE CORPORATION

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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..........................

1,680,723 1,957 15,383 53,351 144,146 134,728 272,178 112,594 946,387

692,938

660,430

32,507

507

482

24

3,970

3,769

201

14,456

13,721

736

44,586

42,919

1,667

49,142

47,565

1,577

111,965

108,648

3,317

49,472

47,898

1,574

418,841

395,429

23,412

987,787 1,451 11,413 38,895 99,561 85,587 160,214 63,122 527,545

440,986

3,606

437,382

468

9

457

3,571

34

3,537

11,681

67

11,615

32,433

273

32,160

28,952

360

28,593

60,934

626

60,307

26,626

1,006

25,620

276,323

1,232

275,091

546,801 983 7,842 27,213 67,128 56,635 99,280 36,497 251,224

Memoranda

Recoveries credited to reserve accounts (not included in

recoveries above):

4,345

31,474

25,598

64,471

9

507

16

1,288

22

2,027

137

5,247

75

2,485

201

6,415

137

4,911

1,513

12,747

18

1,866

2,114

6,196

4,083

19,513

21,614

32,220

Losses charged to reserve accounts (not included in

losses above):

On securities..........................................................................

15

49

152

3

310

Average assets and liabilities3 

Assets— total...........................................................................

United States Government obligations..........................

Loans and discounts............................................................

All other assets......................................................................

Liabilities and capital— total..........................................

Demand deposits................................................................

Time and savings deposits...............................................

Borrowings and other liabilities.......................................

Total capital accounts........................................................

185,183,924

43,981,146

61,877,948

13,790,973

63,274,694

2,259,163

159,007

46,196

48,108

6,246

57,307

1,150

1,320,293

325,040

470,659

64,085

451,706

8,803

4,768,582

1,105,219

1,794,540

272,471

1,566,018

30,334

14,785,087

3,310,722

5,596,767

1,134,536

4,627,398

115,664

14,868,979

3,175,791

5,679,517

1,339,754

4,538,056

135,861

32,774,502

7,221,396

12,351,207

2,830,611

9,991,800

379,488

13,828,299

3,282,316

4,910,648

997,171

4,457,863

180,301

102,679,175

25,514,466

31,026,502

7,146,099

37,584,546

1,407,562

185,183,924

169,974,560

128,98U,U57

1*0,990,103

2,712,350

12,497,014

159,007

139,269

115,156

2k,118

658

19,080

1,320,293

1,191,027

909,831

281,196

3,558

125,708

4,768,582

4,349,717

3,16k, 787

1,18k,930

12,355

406,510

14,785,087

13,624,899

9,k70,3k2

k,15k,557

45,804

1,114,384

14,868,979

13,766,594

9,187,025

k,579,569

73,845

1,028,540

32,774,502

30,443,454

20,857,336

9,586,118

253,126

2,077,922

13,828,299

12,868,461

9,722,035

3,lk6,k26

140,794

819,044

102,679,175

93,591,139

75,557,9k5

18,033,19k

2,182,210

6,905,826

Number of active officers, December 31............................

Number of other employees, December 31.......................

76,436

357,250

728

387

3,615

2,745

8,432

8,731

15,887

27,377

10,296

30,206

14,246

73,603

4,494

32,174

18,738

182,027

Number of banks, December 31........................................... 13,367 371 1,607 3,052 4,357 2,010 1,571 186 213

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 This group of banks is the same as the group shown in Table 112 under the heading “ Operating throughout the year.”

2 Deposits are as of December 31, 1952.

* Asset and liability items are averages of figures reported at beginning, middle, and end of year for banks submitting reports to FDIC and are as of December 31, 1952,

for banks not submitting reports to FDIC.

Back figures, 19^1-1951: See the Annual Report for 1951, pp. 170-171, and earlier reports.

COEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 115. 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 1952

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 a n k s gr o u p e d ac co r d in g to a m o u n t o f d e p o sit s

Earnings or expense item

Am ounts per $100 of current operating

earnings

Current operating earnings— total................................

Interest on United States Government obligations.. .

Interest and dividends on other securities.....................

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

Service charges on deposit accounts................................

Other service charges, commissions, fees, and collection and exchange charges....................................

Other current operating earnings.................................

Current operating expenses— total...........................

Salaries, wages, and fees................................................

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

Taxes other than on net income..................................

Recurring depreciation on banking house, furniture

and fixtures....................................................................

Other current operating expenses................................

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

Am ounts per $100 of total assets3

Current operating earnings— total...................................

Current operating expenses— total..................................

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........................................

Net profits after income taxes...........................................

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..............................................................................

All

banks1

$100.00

22.30

5.63

56.51

4.96

2.47

8.13

61.37

30.93

9.30

2.82

1.52

16.80

38.63

2.65

1.63

1.02

.08

.19

.91

.53

(4)

.02

.01

.03

Banks with deposits of—2

$500,000

$100.00

14.80

3.10

67.55

4.34

7.87

2.34

65.50

38.56

5.44

3.30

1.31

16.89

34.50

2.53

1.33

.10

.20

1.23

.91

.01

.03

$500,000

to

$1,000,000

$100.00

19.36

3.22

63.80

4.73

7.20

1.69

63.09

35.46

7.79

2.67

1.50

15.67

36.91

3.47

2.19

1.28

.09

.20

1.17

.86

.01

(4)

.02

$1,000,000

to

$2,000,000

$100.00

21.88

4.06

61.25

5.02

5.69

2.10

61.67

33.44

9.20

2.78

1.63

14.62

38.33

3.23

1.99

1.24

.06

.18

1.12

.82

(4)

.01

(4)

.03

$2,000,000

to

$5,000,000

$100.00

23.28

5.27

59.30

5.67

4.01

2.47

62.86

32.00

10.78

2.93

1.97

15.18

37.14

3.01

1.89

1.12

.05

.20

.97

.67

(4)

.01

(4)

.04

$5,000,000

to

$10,000,000

$100.00

23.50

5.90

57.48

6.53

3.11

3.48

64.02

31.43

11.29

2.99

2.07

16.24

35.98

2.95

1.89

1.06

.06

.21

.91

.58

(4)

.02

(4)

.04

$10,000,000

to

$50,000,000

$100.00

23.65

5.81

54.91

6.80

2.45

6.38

65.32

31.72

10.83

3.02

2.07

17.68

34.68

2.83

1.85

.98

.06

.21

.83

.49

(4)

.01

(4)

.04

$50,000,000

to

$100,000,000

$100.00

22.10

4.90

56.08

5.57

2.24

9.11

65.05

32.50

8.83

3.01

1.86

18.85

34.95

2.75

1.79

.96

.08

.23

.81

.46

(4)

.01

.02

.04

More than 

$100,000,000

$100.00

21.55

5.83

56.06

3.79

1.84

10.93

58.58

29.86

8.24

2.69

1.08

16.71

41.42

2.45

1.44

1.01

.09

.18

.92

.51

(4)

.02

.02

.03

124 FEDERAL DEPOSIT INSURANCE CORPORATION

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http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Am ounts per $100 of total capital accounts3

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

Recoveries, transfers from reserve accounts, and

profits— total.....................................................................

Losses, charge-offs, and transfers to reserve accounts—

total......................................................................................

Net profits before income taxes............................................

Taxes on net income................................................................

Net profits after income taxes...............................................

Cash dividends declared.........................................................

Net additions to capital from profits..................................

15.19

1.15

2.89

13.45

5.55

7.90

3.53

4.37

11.11

.81

1.66

10.26

2.66

7.60

2.45

5.15

13.44

.93

2.13

12.24

3.16

9.08

2.84

6.24

14.49

.72

2.09

13.12

3.55

9.57

2.88

6.69

14.81

.74

2.62

12.93

4.00

8.93

2.91

6.02

15.33

.86

3.09

13.10

4.78

8.32

2.81

5.51

15.48

.92

3.30

13.10

5.39

7.71

2.93

4.78

16.24

1.30

3.79

13.75

6.04

7.71

3.25

4.46

15.11

1.33

2.74

13.70

6.06

7.64

4.00

3.64

Memoranda

Recoveries credited to reserve accounts (not included

in recoveries above):

On securities........................................................................... .03 (4)

.12 w .18 .01

.24

.01

.24

(4)

.23

.06

On loans.................................................................................. .25 .08 .12 .28

Losses charged to reserve accounts (not included in

losses above):

On securities........................................................................... .20

.52

(4)

.25

(4)

.32

.01

.47

.02

.62

.07

.61

.26

.76

.31

On loans.................................................................................. .26 .47

Special ratios8

Income on loans per $100 of loans...................................... 4.39 7.24 6.46 6.01 5.69 5.55 5.10 4.79 3.76

Income on securities per $100 of securities....................... 1.81 2.03 1.93 1.93 1.88 1.84 1.80 1.74 1.81

Service charges per $100 of demand deposits................... .19 .23 .24 .24 .27 .31 .30 .22 .13

Interest paid per $100 of time and savings deposits. . . . 1.11 1.39 1.27 1.19 1.15 1.08 1.05 1.07 1.15

Assets and liabilities per $100 of total

assets3

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.................................................. 23.75 . 29.05 24.62 23.18 22.39 21.36 22.03 23.74 24.85

United States Government obligations.......................... 33.41 30.26 35.65 37.63 37.86 38.20 37.68 35.51 30.22

Other securities..................................................................... 7.45 3.93 4.85 5.71 7.67 9.01 8.64 7.21 6.96 Loans and discounts............................................................ 34.17 36.04 34.21 32.84 31.30 30.52 30.49 32.24 36.60 All other assets...................................................................... 1.22 .72 .67 .64 .78 .91 1.16 1.30 1.37

Liabilities and capital— total........................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits........................................................................ 91.78 87.59 90.21 91.22 92.15 92.59 92.89 93.06 91.15 Demand deposits................................................................ 69.65 72.1+2 68.91 66.87 61+.05 61.79 68.61+ 70.31 73.59 Time and savings deposits............................................... 22.18 15.17 21.80 21+.85 28.10 80.80 29.25 22.75 17.56 Borrowings and other liabilities....................................... 1.47 .41 .27 .26 .31 .49 .77 1.02 2.13 Total capital accounts........................................................ 6.75 12.00 9.52 8.52 7.54 6.92 6.34 5.92 6.72

Number of banks, December 31........................................... 13,367 371 1,607 3,052 4,357 2,010 1,571 186 213

i This group of banks is the same as the group shown in Table 112 under the heading “ Operating throughout the year.” These ratios differ slightly from the ratios for all

insured commercial banks shown in Tables 111 and 113.

* Deposits are as of December 31, 1952.

* Asset and liability items are averages of figures reported at beginning, middle, and end of year for banks submitting reports to FDIC and are as of December 31, 1952

for banks not submitting reports to FDIC.

* Less than .005. to

Back figures, 191+1-1951: See the Annual Report for 1951, pp. 172-173, and earlier reports. ^

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED B AN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 116. 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 S t a t e s (C o n t in e n t a l U. S. a n d O t h e r A r e a s), b y St a t e , 1952

(Amounts in thousands of dollars)

U. S.

(continental

U. S.and

other

areas)

Other areas

Continental ConnecEarnings or expense item ticut

Alaska Puerto

Rico Other1

United

States Alabama Arizona Arkansas California Colorado

4,931,688

1,099,059

276,993

2,742,100

42,295

244,696

121,868

204,967

199,713

3,493

737

95

1,525

8,048 1,063 4,919,084 45,423 22,337 26,956 551,413 41,607 57,613

Interest on U. S. Government obligations. .

Interest and dividends on other securities. .

484

700

5,436

197

56

627

1,097,641

276,142

2,734,512

8,890

2,599

26,876

3,485

939

13,462

5,833

1,953

14,030

96,921

28,149

340,544

9,568

1,167

24,227

12,257

2,942

29,999

Service charges and fees on bank’s loans. . . . 126

127

215

125

2

59

41,952

244,385

198

2,404

441

1,536

70

1,649

8,548

32,955

354

3,362

237

3,736

Other service charges, commissions, fees, and

756 921 116 120,075 1,956 595 2,360 8,973 737 849

23 2 204,942 941 499 192 15,505 1,104 5,061

Other current operating earnings.................... 104 165 7 199,437 1,560 1,379 869 19,818 1,089 2,533

3,028,575

530,035

965,197

30,871

458,059

20,921

139,290

74,953

2,315

468

6,082 788 3,019,390 25,962 15,129 15,844 349,719 25,415 38,492

978 146 528,443 6,048 2,405 4,506 42,796 5,029 6,994

Salaries and wages— employees....................... 885 1,829 222 962,261 7,476 5,736 3,958 114,712 7,592 12,375

Fees paid to directors and members of executive, discount, and other committees. . . .

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

7

230

76

847

21

183

30,767

456,799

363

2,898

49

1,011

409

1,127

875

103,469

413

4,506

407

5,155

Interest and discount on borrowed money. .

Taxes other than on net income...................

Recurring depreciation on banking house,

furniture and fixtures.....................................

237 20,684

138,908

74,604

13 38 21 2,392 172 104

66

89

297

242

19

18

536

846

388

565

711

470

10,693

6,435

551

515

1,414

1,234

Other current operating expenses................... 809,252 572 1,576 180 806,924 7,780 4,939 4,643 68,346 6,638 10,811

Net current operating earnings..................... 1,903,112 1,178 1,965 276 1,899,693 19,462 7,208 11,112 201,695 16,193 19,120

Recoveries, transfers from reserve accounts, and profits— total........................ 144,146

11,191

20,492

33,806

22,004

27,330

29,324

67 138 15 143,926 934 385 578 11,572 1,025 931

On securities:

Recoveries ....................................... 7 11,184 24 4 20 1,203 128 27

Transfers from reserve accounts 20,492

33,697

21,960

47 4 4,014 10 100

Profits on securities sold or redeemed. . . .

On loans:

Recoveries ......................................................

1 108 157 45 123 2,263 246 221

20 18 6 311 18 270 658 251 110

Transfers from tb s g f y g accounts 1 9 27,320

29,273

149 16 1,498 220 276

All other................................................................. 39 12 245 318 145 1,935 170 196

Losses, charge-offs, and transfers to reserve accounts— total................................. 362,444

97,512

396 719 66 361,263 3,614 1,601 1,769 35,226 3,194 3,827

On securities:

Losses and charge-offs.................................... 53 14 15 97,430 974 683 507 9,443 557 1,498

Transfers to reserve accounts . . . 29,531

23,637

154,510

57,253

1 155 29,375

23,528

50 20 75 4,649 2 42

On loans:

Losses and charge-offs.................................... 74 24 11 795 8 546 875 563 21

Transfers to reserve accounts...................... 243 473 30 153,764 1,194 730 324 16,075 1,584

489

1,035

25 53 10 57,165 601 161 316 4,183 1,230

Net profits before income taxes..................... 1,684,813 849 1,384 225 1,682,355 16,782 5,992 9,921 178,041 14,023 16,225

' " ......... " 1.................. -------- -------- 1'......... ........ ' i

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
694,883

662,277

32,606

399 217 96 694,171 6,798 2,831 3,291 80,509 6,679 6,991

Federal.................................................................... 391 166 96 661,624 6,148 2,649 3,291 74,974 6,120 6,394

State........................................................................ 8 51 32,547 650 182 5,536 558 596

989,931 451 1,167 129 988,184 9,984 3,161 6,629 97,532 7,344 9,235

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. .

441,971

3,675

438,298

157 658 67

3

441,089

3,672

437,419

3,594 1,492 2,241

5

58,197

258

2,775 4,677

1

157 658 64 3,593 1,492 2,236 57,939 2,775 4,676

Net additions to capital from profits......... 547,961 294 509 62 547,096 6,390 1,669 4,389 39,335 4,569 4,557

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

4,355

31,508

25,598

64,607

1 4,354

31,459

22 1,766

34 15 253 395 61 4,822 349 273

Losses charged to reserve accounts (not included in losses above):

On securities ...................................................... 50 25,548 5 40 101 2,604 78 3

On loans................................................................. 189 80 64,338 599 649 175 9,946 1,671 742

Average assets and liabilities2 

Assets— total........................................................... 179,803,463 92,028 195,775 33,633 179,482,027 1,500,371 604,899 942,860 16,801,468 1,418,206 1,974,610

Cash and due from banks................................. 42,952,808

61,065,059

13,562,462

25,023 35,959 6,276 42,885,550 400,658 118,289 279,839 3,173,144 365,713 472,723

United States Government obligations.........

Other securities.....................................................

41,007

4,215

27,217

31,462

10,837

2,980

60,985,998

13,523,805

487,571

143,652

197,848

49,176

333,492

84,639

5,243,479

1,332,921

532,958

53,909

695,170

191,041

Loans and discounts........................................... 59,999,743

2,223,391

20,888

895

93,179 13,077 59,872,599 452,075 228,447 238,784 6,807,558 456,122 590,514

7,958 463 2,214,075 16,415 11,139 6,106 244,366 9,504 25,162

Liabilities and capital— total.......................... 179,803,463

165,031,495

125,213,81*2

92,028 195,775 33,633 179,482,027 1,500,371 604,899 942,860 16,801,468 1,418,206 1,974,610

Total deposits....................................................... 87,964 167,747

87,198

31,069 164,744,715 1,386,271 565,243 873,782 15,531,024 1,324,667 1,827,222

Demand deposits............................................... 59,861* 17,117 125,01*9,663 1,101*,870 1*1*9,370 761*,503 8,928,868 1,01*5,101 1,1*20,601

Time and savings deposits.............................. 39,817,653

2,501,055

28,100

165

80,51*9 13,952 39,695,052 281,1*01 115,873 109,279 6,602,156 279,566

8,208

1*06,621

Borrowings and other liabilities....................... 12,321 123 2,488,446 11,101 7,739 2,443 307,947 15,156

Total capital accounts........................................ 12,270,913 3,899 15,707 2,441 12,248,866 102,999 31,917 66,635 962,497 85,331 132,232

Number of active officers, December 31........... 76,754

358,325

55 188 21 76,490 995 313 862 5,539 775 840

Number of other employees, December 31. . . . 250 1,015 95 356,965 3,144 2,189 1,784 36,744 3,054 4,841

Number of banks, December 31.......................... 13,439 7 7 3 13,422 229 13 224 189 148 95

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 Includes 2 banks in Hawaii, and 1 national bank in the Virgin Islands, not members of the Federal Reserve System. ■»■»•*»

2 Asset and liability items are averages of figures reported at beginning, middle, and end of year, adjusted for “ U. S. (continental U. S. and other areas) ana for Puerto Rico

to exclude data for 9 insured branches in Puerto Rico of insured national banks in New York; earnings data of these branches are not available.

Back figures, 191*6-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.

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 n i n 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 i n t h e

U n i t e d S t a t e s ( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , b y S t a t e , 1952—Continued

(Amounts in thousands of dollars) v-1

Earnings or expense item Delaware District of

Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana

Current operating earnings— total.............. 16,968 34,650 67,633 70,795 16,609 341,676 98,780 74,116 48,256 50,600 55,173

Interest on U. S. Government obligations.. 3,558 9,419 19,576 11,412 3,769 107,853 29,933 16,431 11,353 12,201 14,204

Interest and dividends on other securities. . 832 1,179 3,600 3,009 390 22,382 4,085 3,624 2,735 1,940 4,062

Interest and discount on loans........................ 9.188 16,840 29,987 42,474 10,334 157,695 50,854 44,529 27,565 30,260 27,262

Service charges and fees on bank’s loans. .. . 86 208 242 942 142 3,473 435 164 295 359 40

Service charges on deposit accounts............... 326 2,677 6,246 3,988 1,096 14,893 4,663 4,776 3,067 1,870 3,161

Other service charges, commissions, fees, and

collection and exchange charges.................. 173 943 2,750 4,651 374 4,393 2,663 2,057 1,030 703 3,195

Trust department................................................ 2,471 1,939 1,332 1,837 87 18,507 2,242 669 385 1,768 575

Other current operating earnings............. .. 334 1,445 3,899 2,481 417 12,481 3,907 1,866 1,826 1,498 2,675

Current operating expenses— total.............. 9,341 21,817 42,499 45,519 10,696 207,710 63,831 44,397 28,712 29,074 35,228

Salaries— officers.................................................. 2,122 3,683 7,881 9,220 2,223 35,439 12,529 12,274 8,300 7,125 6,734

Salaries and wages— employees........................ 2,922 8,347 12,954 12,716 2,890 61,983 17,594 10,479 6,851 7,994 10,273

Fees paid to directors and members of executive, discount, and other committees. . . . 164 250 539 614 69 1,776 894 518 488 542 515

Interest on time and savings deposits........... 864 1,795 4,445 4,015 2,213 37,071 9,974 6,957 2,466 2,482 3,619

Interest and discount on borrowed money.. 131 111 72 290 64 2,126 82 127 68 110 254

Taxes other than on net income.................... 252 1,398 1,358 3,027 229 8,496 5,020 1,466 1,346 2,099 2,994

Recurring depreciation on banking house,

furniture and fixtures..................................... 308 695 1,990 1,344 354 3,704 1,493 1,085 639 709 1,013

Other current operating expenses.................... 2,579 5,537 13,259 14,295 2,653 57,116 16,247 11,491 8,554 8,013 9,826

Net current operating earnings..................... 7,628 12,832 25,136 25,276 5,913 133,967 34,950 29,718 19,544 21,527 19,944

Recoveries, transfers from reserve accounts, and profits— total........................ 166 473 912 1,523 116 16,849 2,138 989 948 1,424 854

On securities:

Recoveries.......................................................... 8 46 81 33 3,048 66 49 61 46 24

Transfers from reserve accounts................. 30 15 3,524 48 10 354 87

Profits on securities sold or redeemed. . . . 46 64 342 581 22 4,292 1,074 213 99 477 142

On loans:

Recoveries.......................................................... 28 294 86 314 31 2,011 272 313 464 259 323

Transfers from reserve accounts................. 68 21 27 103 1 1,858 424 131 29 124 100

All other................................................................. 24 87 382 430 30 2,118 253 273 296 165 178

Losses, charge-offs, and transfers to reserve accounts— total................................. 1,490 1,402 4,225 3,032 965 28,315 7,370 3,935 3,640 3,738 3,297

On securities:

Losses and charge-offs.................................... 589 711 1,886 938 744 6,804 2,042 1,372 883 910 667

Transfers to reserve accounts...................... 25 6 42 10 3,251 751 14 6 312 240

On loans:

Losses and charge-offs.................................... 56 84 364 383 62 869 330 572 852 395 359

Transfers to reserve accounts...................... 251 252 1,496 1,135 117 12,997 2,639 1,171 1,015 751 766

All other................................................................. 569 349 437 568 42 4,395 1,609 807 884 1,369 1,266

Net profits before income taxes..................... 6,303 11,903 21,825 23,767 5,065 122,501 29,718 26,771 16,852 19,212 17,502

DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— tota l............................

Federal...................................................................

State........................................................................

2.897

2.897

5.458

5.458

9.041

9.041

9.974

9.974

2,400

2,163

238

46.127

46.127

11.391

11.391

9.147

9.147

6,186

6,186

7.370

7.370

6.846

6.846

Netfprofits after income 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.........

3,406 6,445 12,783 13,793 2,664 76,374 18,327 17,625 10,666 11,842 10,656

2.341

2.341

3.068

3.068

3,504

10

3,494

5,258

2

5,256

1.040

1.040

26,988

80

26,908

5,619

60

5,559

5,027

42

4,985

3,177

6

3,172

3,975

14

3,961

3,167

6

3,161

1,065 3,377 9,279 8,534 1,624 49,386 12,708 12,598 7,489 7,868 7,489

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 21

2,755

3,061

3,430

2

504

235

1,079

7

203

226

608

5

90

23

321

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

66

17

119

104 252 384

15

775

46

1

91

174

2

612

345

On loans........................................................... 310 607 960

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........................................

561,995

112,674

199,398

34,520

208,234

7,169

1,342,273

338,413

536,004

53,105

393,026

21,725

2,487,503

643,889

1,061,388

164,648

583,779

33,799

2,157,203

599,158

633,524

113,563

782,808

28,150

502,928

99,440

195,005

17,735

186,450

4,298

14,793,016

3,471,906

6,006,504

1,145,952

4,075,148

93,506

3,779,806

885,024

1,670,374

222,651

971,112

30,645

2,508,584

547,293

853,248

214,812

876,934

16,297

1,821,136

492,964

616,142

159,698

542,095

10,237

1,890,398

516,284

682,232

79,671

598,760

13,451

2,142,386

632,778

769,894

179,790

533,816

26,108

561,995

502,597

407,501

95,096

4,739

54,659

1,342,273

1,250,240

1,003,942

246,298

10,153

81,880

2,487,503

2,326,234

1,903,596

422,638

14,279

146,990

2,157,203

1,992,563

1,654,402

338,161

22,466

142,174

502,928

474,019

351,188

122,831

2,972

25,937

14,793,016

13,817,735

10,317,250

3,500,485

93,569

881,712

3,779,806

3,537,786

2,566,368

971,418

20,008

222,012

2,508,584

2,329,093

1,770,124

558,969

4,886

174,605

1,821,136

1,705,434

1,514,626

190,808

5,252

110,450

1,890,398

1,746,347

1,498,678

247,669

10,943

133,108

2,142,386

2,011,987

1,702,328

309,659

15,999

114,400

Number of active officers, December 31...........

Number of other employees, December 3 1 ... .

279

1,190

396

3,003

1,238

5,566

1,494

5,111

320

1,150

4,626

22,432

2,176

7,293

2,189

4,686

1,639

3,089

1,463

3,791

962

4,028

Number of banks, December 31.......................... 34 19 209 341 39 883 471 609 474 362 166

Note: Due to rounding, earnings data of State banks 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, 1946-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 129

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 116. E a r n i n g s , E x p e n s e s , a n d D iv id e n d s o 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 i t e d S t a t e s ( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , b y S t a t e , 1952—Continued

(Amounts in thousands of dollars)

Earnings or expense item Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New

Hampshire

Current operating earnings— total.............. 16,888 47,507 139,286 176,334 100,175 27,918 133,084 18,190 40,069 7,174 8,804

Interest on U. S. Government obligations. . 3,523 13,722 30,077 47,423 20,411 5,240 29,038 4,941 9,814 1,756 1,778

Interest and dividends on other securities. . 783 2,315 6,429

72,658

9,014 5,143 2,993 6,596 752 1,728 235 419

Interest and discount on loans........................ 10,445 24,547 98,830 55,467 13,898 81,917 9,507 22,953 4,071 5,128

Service charges and fees on bank’s loans. . . . 59 91 813 1,615 570 66 537 181 81 96 24

Service charges on deposit accounts............... 1,000 3,043 7,959 8,609 5,508 1,472 4,886 1,390 2,454 359 772

Other service charges, commissions, fees, and

collection and exchange charges.................. 264 1,001 3,784 4,049 7,325 3,292 2,725 664 1,091 155 186

Trust department................................................ 407 1,258

1,531

10,078 2,404 2,549 141 3,239 70 401 220 160

Other current operating earnings.................... 407 7,489 4,391 3,204 819 4,147 686 1,549 283 338

Current operating expenses— total.............. 11,489 29,973 86,363 112,981 64,369 17,963 76,811 11,243 23,322 4,292 5,815

Salaries— officers.................................................. 1,895 4,795 14,595 16,501 14,922 4,586 15,512 2,672 6,717 767 1,133

Salaries and wages— employees................. 3,014 9,605 30,226 38,065 17,687 4,628 23,651 2,857 5,765 1,359 1,420

Fees paid to directors and members of executive, discount, and other committees. . . . 202 542 822 1,053 814 335 941 92 410 12 118

Interest on time and savings deposits........... 2,667 4,204 7,272 20,552 11,547 1,211 8,033 955 1,292 878 1,111

Interest and discount on borrowed money. . 11 185 346 1,068 284 38 1,208 11 229 9

Taxes other than on net income.................... 515 1,724 3,947 5,731 1,207 1,232 2,956 1,166 1,198 256 223

Recurring depreciation on banking house,

furniture and fixtures..................................... 268 798 2,657 2,867 1,272 451 2,039 278 565 136 173

Other current operating expenses.................... 2,918 8,121 26,500 27,144 16,637 5,482 22,471 3,213 7,146 885 1,631

Net current operating earnings..................... 5,399 17,534 52,923 63,354 35,806 9,956 56,274 6,947 16,748 2,882 2,989

Recoveries, transfers from reserve accounts, and profits— total........................ 418 1,194 6,433 2,953 1,770 806 2,889 991 1,568 22 486

On securities:

Recoveries.......................................................... 17 175 896 79 238 95 130 9 618 64

Transfers from reserve accounts.................

Profits on securities sold or redeemed. . . .

11

72 288

1,145

1,068

7

1,511

13

188

88

99

133

594

341

62

429

186 8

275

33

On loans:

Recoveries.......................................................... 95 128 989 303 709 244 503 394 161 4 52

Transfers from reserve accounts................. 70 84 1,181 91 32 59 431 140 29 24

All other................................................................. 154 518 1,154 963 590 223 1,098 44 146 11 38

Losses, charge-offs, and transfers to reserve accounts— total................................. 1,150 2,832 13,490 11,799 5,115 2,756 10,942 2,226 4,087 254 1,214

On securities:

Losses and charge-offs.................................... 228 1,013 1,911 4,743 1,939 700 3,585 755 1,285 61 323

Transfers to reserve accounts...................... 6 28 1,007

187

1,340

562

81 109 1,539

1,048

346 492 115

On loans:

Losses and charge-offs.................................... 141 143 932 278 503 460 12 93

Transfers to reserve accounts...................... 505 990 7,863 3,618 1,036 1,103 3,338 392 1,084 151 259

All other................................................................. 270 658 2,521 1,534 1,127 567 1,433 229 766 31 424

Net profits before income taxes..................... 4,666 15,896 45,866 54,509 32,460 8,007 48,220 5,713 14,229 2,650 2,261

130 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— total..........................

Federal....................................................................

1.696

1.696

5.718

5.718

20,831

17,419

3,412

23.133

23.133

12,902

11,114

1,788

2.340

2.340

20,638

19,802

836

2,397

2,329

69

4.845

4.845

1.392

1.392

674

674

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........

2,971 10,178 25,035 31,376 19,558 5,666 27,582 3,316 9,383 1,259 1,588

1,288

6

1,282

4,145

25

4,121

14,979

16

14,963

12,181

122

12,060

7,327

26

7,302

1,844

30

1,814

10,641

47

10,595

1,332

2

1,330

3,094

2

3,093

421

421

654

654

1,683 6,032 10,056 19,194 12,231 3,823 16,941 1,983 6,289 838 934

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 13

459

170

2,811

6

386

5

194

52

657

1,100

1,667

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

50 125

50

239

1,264

1,113

1,992

157 218

300

558

38 91

On loans.................................................................. 191 830 499 281 128 249

Average assets and liabilities^

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........................................

504,487

101,112

175,476

38,050

184,608

5,241

1,880,727

440,017

767,584

116,479

532,514

24,133

4,937,775

1,156,544

1,651,140

311,019

1,725,045

94,027

6,507,018

1,327,392

2,718,715

526,967

1,873,530

60,414

3,303,851

763,002

1,126,660

267,969

1,118,041

28,179

924,354

237,309

291,301

133,944

252,788

9,012

5,156,677

1,381,942

1,648,035

300,571

1,784,088

42,041

652,626

161,663

279,127

38,983

166,916

5,937

1,510,863

393,868

546,029

106,178

455,568

9,220

224,912

42,511

98,195

11,673

69,389

3,144

267,889

62,854

90,028

18,592

94,002

2,413

504,487

457,615

272,362

185,253

3,316

43,556

1,880,727

1,747,827

1,305,590

1+1+2,237

12,211

120,689

4,937,775

4,448,631

3,726,671

721,957

84,485

404,659

6,507,018

6,103,460

3,735,836

2,367,621+

56,223

347,335

3,303,851

3,059,346

2,162,851+

896,1+92

28,146

216,359

924,354

861,543

721+,01+9

137,1+91+

3,544

59,267

5,156,677

4,806,855

1+,037,951

768,901+

37,607

312,215

652,626

619,237

511,571+

107,663

4,016

29,373

1,510,863

1,408,836

1,257,681+

151,152

9,127

92,900

224,912

210,591

11+1,576

69,015

2,127

12,194

267,889

240,498

170,611+

69,881+

1,142

26,249

Number of active officers, December 31...........

Number of other employees, December 31. .. .

337

1,357

876

4,365

1,766

11,996

2,095

13,926

2,640

7,276

852

2,036

2,709

10,690

448

1,202

1,238

2,586

120

504

212

636

Number of banks, December 31.......................... 55 154 173 412 664 199 576 109 369 8 58

Note: Due to rounding, earnings data of State banks 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+6-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.

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 n i n 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 i t e d S t a t e s ( C o n t i n e n t a l U . S . a n d O t h e r A r e a s ) , b y S t a t e , 1952—Continued

(Amounts in thousands of dollars)

Earnings or expense item New

Jersey

New

Mexico

New

York

North

Carolina

North

Dakota Ohio Oklahoma Oregon Pennsylvania Rhode

Island

South

Carolina

Current operating earnings— total.............. 158,170 13,434 936,555 68,182 15,517 237,116 59,580 51,375 360,709 25,071 24,519

Interest on U. S. Government obligations.. 41,273 2,780 184,034 12,359 4,465 62,425 12,184 9,579 80,075 6,604 5,559

Interest and dividends on other securities. . 11,682 247 55,977 4,273 582 14,230 3,169 2,530 29,877 552 1,342

Interest and discount on loans........................ 82,311 8,516 510,774 38,263 6,928 124,583 35,448 31,729 191,837 13,210 12,904

Service charges and fees on bank’s loans. . . . 555 191 10,761 931 106 1,512 173 340 1,654

11,482

12 41

Service charges on deposit accounts............... 9,766 822 35,390 3,353 1,013 10,996 3,826 3,592 913 1,777

Other service charges, commissions, fees, and

collection and exchange charges.................. 2,089 338 17,686 5,390 1,960 4,104 1,175 1,068 4,820 255 2,106

Trust department................................................ 4,949 198 73,470 1,895 64 8,942 496 1,019 24,273 1,888 381

Other current operating earnings.................... 5,545 341 48,461 1,718 400 10,325 3,110 1,520 16,691 1,637 410

Current operating expenses— total.............. 107,537 9,096 539,835 42,118 9,161 148,671 34,687 34,270 214,989 17,083 14,169

Salaries— officers.................................................. 16,264 1,830 78,050 9,273 2,583 22,248 8,945 5,925 36,006 2,252 3,432

Salaries and wages— employees........................ 33,567 2,782 214,218 11,414 2,077 43,382 9,266 11,399 69,866 5,112 4,388

Fees paid to directors and members of executive, discount, and other committees. .. . 1,573 88 3,625 384 118 1,503 356 98 3,384 186 209

Interest on time and savings deposits........... 19,495 980 48,263 5,585 1,458 24,912 2,744 7,979 31,199 3,618 975

Interest and discount on borrowed money. . 364 5 5,856 660 5 1,088 687 146 817 17 55

Taxes other than on net income.................... 6,084 462 18,467 1,282 267 15,464 699 717 10,005 1,176 232

Recurring depreciation on banking house,

furniture and fixtures..................................... 3,744 424 8,887 1,213 186 3,564 1,317 1,109 6,305 397 449

Other current operating expenses.................... 26,449 2,527 162,470 12,308 2,468 36,509 10,674 6,898 57,408 4,324 4,430

Net current operating earnings..................... 50,632 4,338 396,719 26,063 6,356 88,446 24,892 17,106 145,719 7,988 10,349

Recoveries, transfers from reserve accounts, and profits— total........................ 5,985 320 44,725 2,292 223 4,739 1,071 741 7,960 887 246

On securities:

Recoveries........................................................ 452 58 1,160

6,802

9,444

10 15 497 36 25 878 15

Transfers from reserve accounts.................

Profits on securities sold or redeemed. . . .

311

1,819 10

326

1,135

13

37

56

1,606

9

293 336

1,154

2,132

118

25 91

On loans:

Recoveries.......................................................... 714 162 4,999 164 76 695 513 57 1,201 58 51

Transfers from reserve accounts................. 1,845 35 14,733 248 13 907 98 2 721 254 12

All other................................................................. 843 55 7,587 410 68 977 121 320 1,875 430 78

Losses, charge-offs, and transfers to reserve accounts— total................................. 16,457 1,299 65,236 4,752 1,252 14,243 2,839 2,510 33,515 2,591 1,261

On securities:

Losses and charge-offs.................................... 4,507 65 13,895 1,459 603 3,596 360 809 8,701 616 314

Transfers to reserve accounts......................

On loans:

Losses and charge-offs....................................

727

493 432

4,588

1,506

183

264

6

110

1,994

478

85

896 36

5,240

993 17

9

153

Transfers to reserve accounts...................... 9,310 342 38,543 1,884 308 6,634 965 1,288 12,714 939 386

All other................................................................. 1,420 460 6,705 962 225 1,540 533 378 5,869 1,019 399

Net profits before income taxes..................... 40,160 3,357 376,207 23,603 5,326 78,943 23,123 15,335 120,164 6,283 9,336

132 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Taxes on net income— total............................

Federal....................................................................

State........................................................................

13.098

13.098

1.817

1.817

162,114

147,075

15,039

10,425

9,938

488

2,207

2,110

97

32.303

32.303

9,513

8,878

636

6,364

5,186

1,179

44.101

44.101

3,012

2,763

250

4,138

3,862

275

Net profits after income 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.........

27,061 1,540 214,092 13,177 3,120 46,640 13,610 8,971 76,063 3,271 5,198

10,507

1,127

9,380

774

2

772

112,513

1,322

111,191

4,291

4

4,287

1,303

3

1,300

17,067

47

17,020

4,890

4,889

3,989

1

3,987

38,110

104

38,006

1.865

1.865

1,839

4

1,835

16,555 766 101,580 8,887 1,817 29,573 8,721 4,983 37,954 1,407 3,359

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 38

463

630

1,444

1,953

9,176

4,256

11,668

4

130

114

783

145

1,119

1,558

2,036

43

942

8,643

3,274

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

176 77 305

15

823

172 97

212

403

48

On loans................................................................. 376 142 528 204

Average assets and liabilities^

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........................................

5,519,970

989,110

2,174,818

596,901

1,683,140

76,001

438,791

132,027

160,561

13,237

128,402

4,564

38,359,381

9,875,319

10,701,259

2,767,451

14,391,267

624,085

2,243,669

565,767

665,640

237,117

748,577

26,568

514,669

97,761

246,546

31,425

135,692

3,245

9,118,072

1,972,150

3,559,309

711,160

2,780,647

94,806

2,065,451

612,440

673,403

168,252

592,154

19,202

1,639,921

343,453

519,518

134,184

619,061

23,705

12,564,096

2,693,404

j» 4,248,922

i 1,282,608

4,180,385

158,777

837,599

147,442

348,817

28,708

297,321

15,311

850,257

238,433

310,077

69,347

225,453

6,947

5,519,970

5,123,196

3,016,1*76

2,106,720

36,608

360,166

438,791

414,231

352,010

62,221

1,262

23,298

38,359,381

34,051,920

29,1*56,981

1*,591*,939

1,262,877

3,044,584

2,243,669

2,058,144

1,60A,766

1*53,378

37,271

148,254

514,669

482,106

367,1*1*9

111*,657

2,488

30,075

9,118,072

8,487,517

5,697,1*81

2,790,036

65,369

565,186

2,065,451

1,915,373

1,730,308

185,065

10,760

139,318

1,639,921

1,519,329

1,063,338

1*55,991

16,355

104,237

12,564,096

11,296,778

8,095,106

3,201,672

98,025

1,169,293

837,599

766,469

1*85,062

281,1*07

10,151

60,979

850,257

794,525

691*,112

100,1*13

5,131

50,601

Number of active officers, December 31...........

Number of other employees, December 3 1 ....

2,254

12,877

290

1,125

7,285

67,790

1,423

4,746

498

992

3,317

16,229

1,607

4,008

960

4,086

5,098

26,362

274

1,996

587

1,925

Number of banks, December 31........................ 308 51 595 225 146 644 376 66 923 10 134

Note: Due to rounding, earnings data of State banks 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*6-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.

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 n i n 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 i t e d S t a t e s ( C o n t i n e n t a l U . S. a n d O t h e r A r e a s ) , b y S t a t e , 1952—Continued

(Amounts in thousands of dollars)

Earnings or expense item South

Dakota Tennessee Texas Utah Vermont Virginia Washington West

Virginia Wisconsin Wyoming

Current operating earnings—total............. 18,436 71,488 234,216 22,009 10,732 74,537 69,758 32,682 89,689 9,282

Interest on U. S. Government obligations. . 4,083 13,026 43,286 4,270 1,864 15,312 11,954 8,688 27,335 2,106

Interest and dividends on other securities. . 682 3,662 9,780 840 545 2,948 4,440 1,407 5,079 310

Interest and discount on loans........................ 10,165 46,506 147,668 13,429 7,127 46,163 41,494 18,535 45,956 5,424

Service charges and fees on bank’s loans. . . . 87 370 2,098 532 65 616 759 176 526 84

Service charges on deposit accounts............... 1,257 2,004 10,616 1,123 557 3,756 5,870 1,201 4,621 592

Other service charges, commissions, fees, and

collection and exchange charges.................. 1,644 2,349 5,016 700 146 1,574 1,894 664 1,884 281

Trust department................................................ 61 1,111 3,452 469 183 2,284 1,508 894 1,293 76

Other current operating earnings.................... 458 2,459 12,302 646 248 1,885 1,840 1,119 2,995 409

Current operating expenses—total............. 11,043 44,317 140,112 14,261 7,791 45,599 47,111 18,898 59,079 5,564

Salaries— officers.................................................. 3,261 8,349 31,678 2,358 1,208 8,874 8,520 3,825 12,778 1,387

Salaries and wages— employees....................... 2,632 11,752 39,214 3,761 1,559 12,507 16,133 4,999 15,661 1,447

Fees paid to directors and members of executive, discount, and other committees. . . . 180 400 1,618 213 149 733 232 334 1,067 95

Interest on time and savings deposits........... 1,344 7,817 8,222 3,624 2,908 8,663 7,190 3,501 11,710 831

Interest and discount on borrowed money. . 20 303 431 85 6 221 158 86 90 27

Taxes other than on net income................... 262 2,890 12,674 265 146 2,191 1,026 825 1,387 252

Recurring depreciation on banking house,

furniture and fixtures..................................... 288 1,280 4,626 320 172 1,574 1,568 617 1,480 186

Other current operating expenses................... 3,056 11,526 41,649 3,638 1,643 10,836 12,284 4,710 14,908 1,340

Net current operating earnings................... 7,393 27,171 94,104 7,748 2,942 28,938 22,647 13,784 30,609 3,719

Recoveries, transfers from reserve accounts, and profits—total...................... 166 1,676 6,182 228 371 1,059 1,305 584 1,699 122

On securities:

Recoveries.......................................................... 18 89 337 1 24 25 108 22 216 4

Transfers from reserve accounts 563 254 55 76 75

Profits on securities sold or redeemed. . . . 34 442 822 22 95 141 203 134 336 30

On loans:

Recoveries.......................................................... 63 262 2,299 145 79 299 148 176 128 75

Transfers from reserve accounts 8 21 438 9 17 196 313 69 201

All other................................................................. 44 299 2,033 51 156 344 456 184 745 14

Losses, charge-offs, and transfers to reserve accounts—total.............................. 1,236 5,993 22,785 798 710 3,845 4,336 1,965 6,496 639

On securities:

Losses and charge-offs.................................... 472 2,321 4,695 320 231 1,522 1,221 788 3,067 119

Transfers to reserve accounts 9 714 1 137 895 103 126 2

On loans:

Losses and charge-offs.................................... 223 332 4,872 82 63 280 114 240 155 286

Transfers to reserve accounts...................... 339 1,984 8,303 294 276 1,008 1,465 465 2,386 70

All other................................................................. 203 1,346 4,200 101 139 899 642 368 762 162

Net profits before income taxes................... 6,323 22,854 77,501 7,177 2,603 26,152 19,616 12,403 25,812 3,203

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income—total..........................

Federal....................................................................

State........................................................................

2,449

2,316

134

10,130

9,967

163

34.065

34.065

3,218

3,081

138

720

632

88

11.124

11.124

7.662

7.662

5.071

5.071

8,793

8,596

197

1.347

1.347

Net profits after income taxes...................... 3,875 12,724 43,437 3,959 1,882 15,028 11,954 7,332 17,020 1,857

Dividends and interest on capital—to^al. .

Dividends declared on preferred stock and

interest on capital notes and debentures. .

Cash dividends declared on common stock. .

1,296

5

1,291

5,490

3

5,488

20,830

20

20,810

1,606

9

1,597

668

81

587

5,930

45

5,885

4,773

2

4,771

2,671

3

2,668

6,064

128

5,936

574

7

567

Net additions to capital from profits........ 2,579 7,233 22,607 2,353 1,214 9,098 7,182 4,661 10,956 1,283

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 269 1

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

141 425

3

1,921

39

51 107

5

385

96

785

381

737

829

127

1

420

90

811

83

5

On loans................................................................. 273 986 6,040 201 214 211 174

Average assets and liabilities1

Assets—total......................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities....................................................

Loans and discounts...........................................

All other assets.....................................................

570,577

121,559

234,278

32,347

177,905

4,488

2,366,245

629,894

696,133

153,372

856,832

30,014

8,589,097

2,782,847

2,417,224

427,758

2,827,334

133,934

708,275

162,357

248,943

36,005

255,030

5,940

306,841

51,198

91,215

25,696

135,534

3,198

2,442,499

595,818

831,690

141,275

843,329

30,387

2,247,045

546,122

663,882

214,918

794,099

28,024

1,118,345

269,185

455,356

67,406

315,040

11,358

3,562,924

756,303

1,506,775

257,985

1,012,622

29,239

317,482

84,558

125,111

14,745

90,624

2,444

Liabilities and capital—total........................

Total deposits.......................................................

Demand deposits...............................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts........................................

570,577

533,014

428,376

104,638

2,646

34,917

2,366,245

2,193,544

1,685,193

508.351

19,432

153,269

8,589,097

8,011,890

7,243,450

768,440

56,869

520,338

708,275

661,126

452,593

208,533

5,260

41,889

306,841

275,982

114,702

161,280

1,681

29,178

2,442,499

2,247,107

1,540,331

706,776

22,014

173,378

2,247,045

2,093,542

1 ,542,523

551,019

14,944

138,559

1,118,345

1,020,424

744,636

275,788

6,745

91,176

3,562,924

3,333,744

2,043,077

1,290,667

11,366

217,814

317,482

298,071

241,613

56,458

1,388

18,023

Number of active officers, December 31...........

Number of other employees, December 31. .. .

644

1,226

1,516

5,105

4,937

16,035

351

1,623

249

696

1,602

5,486

1,154

5,761

668

2,051

2,136

6,624

241

553

Number of banks, December 31.......................... 170 290 877 55 66 315 114 178 545 52

Note: Due to rounding, earnings data of State banks 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, 1946-1951: See the Annual Report for 1951, pp. 174-183, and earlier reports.

CO

Oi EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 117. I n c o m e , 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 M u t u a l S a v in g s B a n k s , 1952

(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......................................................................

State franchise or income tax.......................................................................

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 (see memoranda)............................................

Transfers from valuation adjustment provisions1 (see memoranda)...........

Non-recurring expense, realized losses charged to profit and loss, and

transfers to valuation adjustment provisions—total........................

Non-recurring expense.................................................................................................

Realized losses (see memoranda)2.............................................................................

Transfers to valuation adjustment provisions1 (see memoranda)...................

Net additions to total surplus accounts from operations.......................

568,498

163,879

62,958

326,785

340,497

7,666

6,046

4,068

102

533

431

5,833

4,873

116,763

19,249

40,996

10,648

2,123

12,162

19,104

6,942

6,203

2,387

22,995

451,735

9,189

442,546

365,481

77,065

57,917

14,893

5,854

37,170

84,023

23,804

26,223

33,996

50,959

Memoranda—realized profits and recoveries,

realized losses, and valuation adjustment

provisions1

Realized profits and recoveries credited, or realized

losses charged, to profit and loss—total.................

Securities sold or matured.......................................................

Real estate mortgage loans......................................................

Other real estate.........................................................................

All other assets...........................................................................

Transfers from (or to) valuation adjustment provisions1—total................................................................

Securities......................................................................................

Real estate mortgage loans......................................................

Other real estate.........................................................................

All other assets............................................................................

Recoveries credited (or realized losses charged) to

valuation adjustment provisions1 (not included

in recoveries or losses above)—total.........................

Securities.......................................................................................

Real estate mortgage loans......................................................

Other real estate.........................................................................

All other assets...........................................................................

Realized

profits and

recoveries,

and transfers

from valuation

adjustment

provisions

5,854

5,243

155

216

240

37,170

12,223

24,692

111

144

423

135

69

1

218

Average assets and liabilities*

Assets—total.............................................

Cash and due from banks........................

United States Government obligations.

Other securities...........................................

Real estate mortgage loans......................

Other loans and discounts........................

Other real estate.........................................

All other assets............................................

Liabilities and surplus accounts—total.

Total deposits..................................................

Savings and time deposits..........................

Demand deposits..........................................

Other liabilities................................................

Total surplus accounts..................................

Number of active officers, December 31. . .

Number of other employees, December 31.

Number of banks, December 31.

Realized

losses and

transfers to

valuation

adjustment

provisions

26,223

25,875

176

110

62

33,996

14,359

15,474

63

4,100

16,285

14,581

882

206

616

17.905.674

728,979

6,755,471

2,064,761

8,012,488

85,996

2,675

255,304

17.905.674

16,102,806

16,080,015

22,791

93,253

1,709,615

1,810

11,932

206

CO

o

tel

tel

u

tel

S3

1 Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-downs).”

2 Total realized losses for the year were $42,508,000, of which a portion was charged to valuation adjustment provisions (see memoranda).

8 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1934-1951: Comparable data for 1951 may be found in the 1951 Annual Report, p. 184. Data for prior years, which however are not comparable with figures for

1951 and 1952, may be found in the following Annual Reports: 1950, pp. 272-273; and 1941, p. 173.

DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 118. R a t io s o f I n c o m e , E x p e n s e s , a n d D i v i d e n d s o f I n s u r e d M u t u a l Sa v in g s B a n k s , 1952

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 incom e................................................................................

State franchise or income tax................................................................................

Net current operating income after taxes.........................................................

Dividends and interest on deposits......................................................................

Net current operating income after taxes and dividends...........................

Amounts per $100 of total assets1

Current operating income— total.................................................................................

Current operating expense— total................................................................................

Net current operating income.......................................................................................

State franchise or income tax.......................................................................................

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 provisions2— total..................

Non-recurring expense, realized losses charged to profit and loss, and transfers

to valuation adjustment provisions2— total..........................................................

Net additions to total surplus accounts from operations......................................

$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

77.84

64.29

13.55

3.17

.65

2.52

.05

2.47

2.04

.43

.32

.47

.28

Special ratios1

Interest on U. S. Government obligations per $100 of U. S. Government

obligations...............................................................................................................

Interest and dividends on other securities per $100 of other securities...........

Interest and discount on real estate mortgage loans per $100 of real estate

mortgage loans............................................................................................................

Interest and discount on other loans and discounts per $100 of other loans

and discounts..............................................................................................................

Dividends and interest on deposits per $100 of savings and time deposits.. .

Net additions to total surplus accounts from operations per $100 of total

surplus accounts.........................................................................................................

Average assets and liabilities1

Assets—total.................................................

Cash and due from banks.......................... .

United States Government obligations. . .

Other securities.............................................

Real estate mortgage loans.........................

Other loans and discounts..........................

Other real estate............................................

All other assets..............................................

Liabilities and surplus accounts—total

Total deposits.................................................

Savings and time deposits..........................

Demand deposits.........................................

Other liabilities............................................. .

Total surplus accounts.................................

Number of banks, December 31...................

$2.43

3.05

4.08

4.73

2.27

2.98

100.00

4.07

37.73

11.53

44.75

.48

.01

1.43

100.00

89.93

89.80

AS

.52

9.55

206

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, 198U and 191+1-1951: Comparable data for 1951 may be found in the 1951 Annual Report, p. 185. Data for prior years, which however are not comparable with t—1

figures for 1951 and 1952, may be found in the following Annual Reports: 1950, pp. 274-275, and 1947, pp. 154-155. COEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

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Federal Reserve Bank of St. Louis
Table 119.

Table 120.

Table 121.

Table 122.

CO

00

D e p o s i t I n s u r a n c e D i s b u r s e m e n t s

Disbursements, deposits, and depositors in insured banks financially aided by the 

Federal Deposit Insurance Corporation, 1934-1952

Banks grouped by class of bank, year of aid, amount of deposits, and State

Assets and liabilities of insured banks placed in receivership and of insured banks 

absorbed with the financial aid of the Federal Deposit Insurance Corporation, 

1934-1952

As shown by books of bank at date of closing

Name, location, Federal Deposit Insurance Corporation disbursement, and assets 

and liabilities of insured banks absorbed with the financial aid of the Corporation 

during 1952

Recoveries and losses by the Federal Deposit Insurance Corporation in connection 

with insured banks financially aided by the Corporation, 1934-1952 

As shown by books of FDIC, December 31, 1952

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Disbursements by the Federal Deposit Insurance Corporation

to protect depositors have been made when insured banks because of

financial difficulties are placed in receivership or are absorbed with the

aid of the Corporation. In receiverships the disbursement is the amount

paid by the Corporation on insured deposits. In absorptions the Corporation’s disbursement is the amount loaned to absorbed banks, or

the price paid for assets purchased from them.

Detailed data for insured banks placed in receivership are omitted

since there has been no receivership since 1944. For such data, see

the Annual Reports of the Corporation for 1946, pages 167 and 171,

and 1950, page 280.

Deposits of insured banks placed in receivership as given in Table

119 are taken from the books of FDIC at the end of the year and differ

from the deposits in Table 120 which are taken from books of the

bank at date of closing. This is because the former include deposits

discovered or reclassified after the date of a bank’s closing.

Details of the absorptions during 1952 are given in Table 121. The

disbursements by the Corporation were made to purchase assets from

the selling banks which were not acceptable to the purchasing banks.

Noninsured bank failures

One noninsured bank failed in 1952. The name and location of this

bank and its deposits and date of closing are given below.

Kennesaw State Bank, Kennesaw, Georgia, March 1952, deposits

$143,000.

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; and 1951, p. 187.

Sources of data

Insured banks; books of bank at date of closing; and books of FDIC,

December 31, 1952; noninsured bank, news reports.

co

CODEPOSIT INSURANCE DISBURSEMENTS

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Federal Reserve Bank of St. Louis
Table 119. D is b u r s e m e n t s , D e p o s it s, a n d D e p o sito r s in I n s u r e d B a n k s F in a n c ia l l y A id e d b y

t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a t io n , 1934-1952

b a n k s g r o u p e d b y class o f b a n k , y e a r o f a id , a m o u n t of d e p o s it s, a n d st a t e

Disbursements by FDIC

(in thousands of dollars) Number of banks Deposits

(in thousands of dollars)1 Number of depositors1

Classification

Total Receiverships

Absorptions2

Total Receiverships

Absorptions Total Receiverships

Absorptions Total Receiverships

Absorptions3

All banks...................................... 276,044 87,044 189,000 420 245 175 540,653 109,590 431,063 1,366,515 382,722 983,793

Class of bank

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

State banks members F. R.

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

Banks not members F. R. S ..

52,883

101,205

121,956

14,808

20,934

51,302

38,075

80,271

70,654

73

22

325

21

6

218

52

16

107

112,530

187,656

240,467

19,474

26,537

63,579

93,056

161,119

176,888

290,348

368,424

707,743

55,406

82,818

244,498

234,942

285,606

463,245

Year

1934 941

8,890

14,781

19,160

30,479

67,771

74,134

941 9 9 1,968 1,968 15,767 15,767

193 5 

193 6 

193 7 

193 8 ..

193 9 

194 0 

6,025

8,056

12,044

9,092

26,197

4,895

2,865

6,725

7,116

21,387

41,574

69,239

25

69

75

74

60

43

24

42

50

50

32

19

1

27

25

24

28

24

13,320

27,508

33,349

59,684

157,772

142,430

9,091

11,241

14,960

10,296

32,738

5,657

4,229

16,267

18,389

49,388

125,034

136,773

44,655

89,018

130,387

203,961

392,718

256,361

32,331

43,225

74,148

44,288

90,169

20,667

12,324

45,793

56,239

159,673

302,549

235,694

194 1 

194 2 

194 3 

194 4 

1 Q/4£

23,880

10,825

7,172

1,503

1,768

265

1,724

2,990

2,551

3,986

12,278

1,612

5,500

404

11,602

9,213

1,672

1,099

1,768

265

15

20

5

2

1

8

6

4

1

7

14

1

1

1

29,717

19,185

12,525

1,915

5,695

14,730

1,816

6,637

456

14,987

17,369

5,888

1,459

5,695

73,005

60,687

27,371

5,487

12,483

38,594

5,717

16,917

899

34,411

54,970

10,454

4,588

12,483

1 QAG 1 1 347 347 1,383 1,383

1 0 £7 1,724

2,990

2,551

3,986

1,885

1,339

638

1,352

4,365

5 5 7,040 7,040 10,637 10,637

1 QASl 3 3 10,657 10,657 18,540 18,540

1 Q1Q 4 4 5,475 5,475 5,671 5,671

1QKA 4 4 5,501 5,501 6,365 6,365

1 Q*1 l|885

1,339

4,946

12,906

14,588

2 2 3,408 3,408 5,276 5,276

1952 3 3 3,157 3,157 6,743 6,743

Banks with deposits of—

$100,000 or less........................

$100,000 to $250,000..............

$250,000 to $500,000..............

4,308

11,554

10,223

106

109

59

83

86

36

23

23

23

6,358

17,759

20,976

4,947

13,920

12,462

1,411

3,839

8,514

38,055

83,370

89,949

29,695

65,512

56,777

8,360

17,858

33,172

$500,000 to $1,000,000...........

$1,000,000 to $2,000,000____

$2,000,000 to $5,000,000____

27,868

30,960

46,813

13,901

8,961

12,421

13,967

21,999

34,392

58

41

29

24

9

5

34

32

24

43,427

59,248

88,315

17,590

11,748

16,279

25,837

47,500

72,036

147,605

191,149

225,188

63,487

54,324

51,756

84,118

136,825

173,432

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

$10,000,000 to $25,000,000. .

$25,000,000 to $50,000,000. .

23,400

40,910

73,653

23,400

15,234

73,653

10 10 65,397

79,755

159,418

65,397 170,841 170,841

25,676 4

4

2 2

4

32,644 47,111

159,418

148,030

272,328

61,171 86,859

272,328

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
State

Alabama..................................... 1,089 94 995 3

Arkansas..................................... 956 841 115 6

California................................... 861 861 1

Colorado..................................... 8 8 1

Connecticut............................... 1,242

300

1,242

203

2

Florida........................................ 97 2

Georgia....................................... 863 846 17 8

Illinois......................................... 4,387 1,242 3,145 17

Indiana....................................... 6,197 3,096 3,101 20

Iowa............................................. 1,456 385 1,071 6

Kansas........................................ 974 482 492 9

Kentucky................................... 4,594 3,329 1,265 22

Louisiana.................................... 668 668 3

Maryland................................... 3,109 735 .........2,374 5

Massachusetts.......................... 1,564

6,289

1,564

6,150

2

Michigan.................................... 139 8

Minnesota.................................. 640 640 5

Mississippi................................. 257 257 3

Missouri..................................... 4,981 4,335 646 46

Montana..................................... 639 186 453 5

Nebraska.................................... 469 469 4

New Hampshire....................... 118 118 1

New Jersey................................ 80,760 25,103 55,657 38

New York.................................. 67,334 10,835 56,499 25

North Carolina......................... 2,387 1,156 1,231 7

North Dakota........................... 2,656 1,397 1,259 29

Ohio............................................. 1,868 1,610 258 3

Oklahoma................................... 2,444 1,133 1,311 8

Oregon......................................... 962 962 1

Pennsylvania............................. 51,112 10,133 40,979 28

South Carolina.......................... 274 136 138 2

South Dakota........................... 2,412 2,388 24 23

Tennessee................................... 1,278 1,164 114 12

Texas........................................... 2,761 2,468 293 18

Vermont..................................... 3,445 3,259 186 3

Virginia....................................... 4,907 511 4,396 8

Washington................................ 935 935 1

West Virginia............................ 1,458

7,188

1,458

5,096

3

Wisconsin................................... 2,092 31

Wyoming.................................... 202 202 1

2 2,286 101 2,185 7,905 794 7,111

1 1,751 1,168 583 4,425 3,529 896

1 1,078 1,078 3,169 3,169

8 8 10 10

1,526 1,526 5,379 5,379

1 491 217 274 1,642 448 1,194

1 1,027 998 29 8,094 7,773 321

11 10,363 1,637 8,726 21,202 5,372 15,830

5 13,594 3,932 9,662 30,006 12,549 17,457

3 5,516 498 5,018 13,665 1,676 11,989

4 1,233 539 694 5,145 2,254 2,891

4 7,951 3,954 3,997 34,620 18,490 16,130

1,652 1,652 6,087 6,087

3 4,566 828 .........8,738 22,567 6,643 15,924

2 3,019 3,019 9,046 9,046

5 13,531 160 13,371 31,663 928 30,735

818 818 2,650 2,650

334 334 1,651 1,651

12 7,149 5,116 2,033 34,929 26,760 8,169

2 1,095 215 880 1,500 849 651

538 538 2,224 2,224

1 296 296 1,780 1,780

27 192,417 30,915 161,502 520,380 101,614 418,766

22 138,811 13,286 125,525 259,889 28,440 231,449

5 3,266 1,421 1,845 10,408 3,677 6,731

11 3,830 1,552 2,278 14,103 6,760 7,343

1 3,139 2,345 794 8,544 7,585 959

3 4,353 1,659 2,694 10,795 5,874 4,921

1 1,302 1,302 2,208 2,208

20 74,440 14,340 60,100 164,513 43,828 120,685

1 850 136 714 1,848 403 1,445

1 2,988 2,862 126 12,515 11,412 1,103

4 1,942 1,620 322 12,358 9,993 2,365

2 3,925 3,239 686 19,862 18,334 1,528

1 3,725 3,375 350 11,057 8,687 2,370

5 10,756 629 10,127 26,041 2,964 23,077

1 1,537 1,537 4,179 4,179

2,006 2,006 8,346 .........8,346

11 9,511 5,966 .........3,545 26,898 18,739 8,159

1 2,033 2,033 3,212 3,212

1

5

’ 1

2

1

7

6

15

3

5

18

3

2

3

5

3

34

3

4

ii'

3

2

18

2

5

‘ 8

1

22

8

16

2

3

*3

20

1 Adjusted to December 31, 1952.

2 Excludes excess collections turned over to banks as additional purchase price at termination of liquidation. Previous reports included these payments.

3 Number of deposit accounts.

DEPOSIT INSURANCE DISBURSEM ENTS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Year

otal

ECEI

otal

BSOI

otal

1935

1936

1937

1938

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

1949

1950

1951

1952

ill

2 Is

». A s s e t s a n d L i a b i l i t i e s o f I n s u r e d B a n k s P l a c e d i n R e c e i v e r s h i p a n d o f I n s u r e d B a n k s A b s o r b e d w i t h

t h e F i n a n c i a l A id o f t h e F e d e r a l D e p o s i t I n s u r a n c e C o r p o r a t i o n , 1934-1952

a s s h o w n b y b o o k s o f b a n k a t d a t e o f c l o s i n g

Assets

U . S. Government

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking

house,

furniture &

fixtures

Other

real

estate

Other Total

Liabilities and capital accounts

Total

deposits

Other

liabilities

R . F. C.

capital

Private

capital

stock

Other

capital

accounts1

$82,013,474

$10,154,078

$71,859,396

233,395

2,071,296

2,495,254

7,018,796

27,929,162

17,183,076

801,273

3,547,766

2,903,771

585,251

1,371,925

114,326

2,201,186

1,013,657

647,349

335,163

625,657

781,093

$74,415,086

$15,946,562

$58,468,524

1,403,807

2,080,059

3,520,186

10,377,037

16,266,036

17,987,527

2,835,309

2,275,392

555,383

230,282

55,504

30,236

318,322

178,720

217,903

89,643

6,450

40,728

$240,939,844

$65,569,217

$175,370,627

2,256,417

8,917,554

8,678,629

20,896,236

44,289,765

60,687,428

8.178.623

7,731,137

1,675,734

367,086

2,435,488

77,049

1,452,370

2,015,414

1,336,785

1.965.624

1,484,869

924,419

$22,568,643

$5,375,616

$17,193,027

608,467

1,277,605

562,181

2,873,257

5,142,882

4,553,388

798,028

759,861

274,331

2,369

56,630

112,200

61,705

40,500

34,502

35,121

$59,563,796

$12,293,686

$47,270,110

1,184,658

926,359

3,913,009

15,459,743

22,840,095

1,014,582

1,824,586

15,844

67,428

4,609

1

19,196

$13,699,503

$8,330,507

$5,368,996

10,808

325.362

186,497

2,380,489

1,049,600

458,831

197,669

354.362

34,523

32,108

83,603

425

215

156,808

5,853

26,030

11,493

54,320

$616,582,744

$140,290,048

$476,292,696

4,917,728

18,966,364

21,086,180

55,592,711

137,588,630

153,938,219

16,992,727

20,652,721

6,676,573

1,650,788

6,391,915

351,169

6,797,738

10,360,196

4,885,620

4,005,118

3,049,908

2,388,391

$537,307,317

$107,374,564

$429,932,753

4,228,816

16,287,262

18,384,923

49,428,383

125,038,946

136,731,549

14,990,768

17,195,146

5,897,691

1,459,091

5,695,202

316,402

6,965,742

10,454,520

4,977,235

5,466,946

3,408,095

3,006,036

$11,693,215

$10,122,023

$1,571,192

140

19,769

262,651

168,674

679,659

157,766

57,508

584

$25,155,114

$5,896,246

$19,258,868

310.000

609,200

3,726,463

6,103,500

7,186,655

289.000

913,400

96,000

5,959

200,915

8,659

8,908

15,000

9,650

$38,463,611

$12,254,299

$26,209,312

315.000

1.664.000

1,808,400

2,697,650

6.381.000

8,666,162

1,111,250

1,748,200

300.000

200.000

331.500

10,000

197.500

375,000

142.500

114,150

85.000

62.000

$3,963,487

$4,642,916

$-679,429

373,772

685,333

21,006

-428,459

-614,475

1,196,087

544,201

795,391

382,882

-8,303

365,213

24,767

-365,504

-469,324

-255,074

-1,786,543

-451,846

-688,553

undivided profits, and reserve funds minus deficit, if any, as shown by books. Minus (-) indicates net deficit.

has been placed in receivership since 1944. For data by years see the Annual Report of the Corporation for 1950, p. 280.

142 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 121. N a m e , L o c a t i o n , 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 b u r s e m e n t , a n d A s s e t s a n d L i a b i l i t i e s o f

I n s u r e d B a n k s A b s o r b e d w it h t h e F in a n c i a l A id o f t h e C o r p o r a t io n D u r in g 1952

Case Name and location Class of bank Number of

accounts1

Disbursement

number

Date Amount2

Absorbing bank

173 Thomasville Bank and Trust Co.

Thomasville, Alabama

State bank not

member F. E. System

4,674 January 21, 1952 $852,735 Bank of Thomasville

Thomasville, Alabama

174 Camden State Bank

Camden, Illinois

State bank not

member F. R. System

1,173 May 5, 1952 372,550 Rushville State Bank

Rushville, Illinois

175 Bank of Dierks

Dierks, Arkansas

State bank not

member F. R. System

896 September 2,1952 114,393 Horatio State Bank

Horatio, Arkansas

Assets Liabilities and capital accounts

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

Deposits3 Other

liabilities

R. F. C.

capital

Private

capital

stock

Other

capital

accounts4

173 $291,100 $197,719 $40,728 $465,783 $30,121 $5,149 $1,030,600

838,248

519,542

$1,757,004

817,072

582,566

$7,077

927

2,404

$25,000

12,000

25,000

$-758,481

8,249

-90,428

174 143,357 309,120

CO

00

©

rJJa

00

5,273

43,8986 175 118,253 274,253 78,138 5,000

1 Number of accounts as of December 31, 1952, from books of FDIC.

I ^ December 31., 1952; does not include preliminary and field liquidation expense or advances for the protection of assets incident to the transaction.

\ t 8 , i ermmed by FDIC agents after adjustment of books of bank for liabilities discovered subsequent to closing as of December 31, 1952.

« Includes surplus, undivided profits, and reserve funds minus deficit, if any, after adjustment for liabilities discovered subsequent to closing.

6 Includes overdrafts of $201,749.

8 Includes shortage account of $42,629.

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AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1952

(Amounts in thousands of dollars)

Table 122. 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 in C o n n e c t io n w i t h £

I n s u r e d B a n k s F i n a n c i a l l y A id e d b y t h e C o r p o r a t i o n , 1934-1952 ^

All banks Receiverships Absorptions

Liquidation status

and year of

receivership or

absorption

Number

of

banks

FDIC

disbursement

Recoveries

to

December

31, 1952

Estimated

additional

recoveries

Losses1

Number

of

banks

FDIC

disbursement

Recoveries Losses

Number

of

banks

FDIC

disbursement2

Recoveries

to

December

31, 1952

Estimated

additional

recoveries

Losses

T otal......................... 420 276,044

6,739

269,305

941

8,890

14,781

19,160

30,479

67,771

74,134

23,880

10,825

7,172

1,503

1,768

265

1,724

2,990

2,551

3,986

1,885

1,339

247,392

3,669

243,723

734

6,160

12,370

15,607

28,047

60,555

69,957

23,267

10,139

7,048

1,463

1,768

265

1,396

2,346

2,173

2,391

1,354

352

1,020

1,020

27,632 245 87,044 72,866 14,178 175 189,000 174,526 1,020 13,454

Status

Active . 7 2,050

25,582

207

7 6,739 3,669 1,020 2,050

Terminated 413 245 ' 87,044

941

72,866

734

14,178

207

168 182,261 170,857 11,404

Year

1934 9 9

1935 25 2,730

2,411

3,553

2,432

7,216

4,177

613

24 6,025

8,056

12,044

9,092

26,197

4,895

12,278

4,274

6,596

9,517

7,908

20,399

4,313

1,751

1,460

2,527

1,184

5,798

582

1 2,865 1,886 979

1936 . 69 42 27 6,725 5,774 951

1937 75

74

60

43

50 25 7,116 6,090 1,026

1938 50 24 21,387 20,139 1,248

1939 32 28 41,574 40,156 1,418

1940........................ 19 24 69,239 65,644 3,595

1941.................. 15 8 12,065 213 7 11,602 11,202 400

1942................... 20 686 6 1,612 1,320 292 14 9,213 8,819 394

1943 5 124 4 5,500

404

5,376

364

124 1 1,672 1,672

1944 2 40 1 40 1 1,099 1,099

1945 1 1 1,768

265

1,768

1946 265

1947 . . . 5 214 3114 5 1,724 1,396 214 *114

1948 3

4

644 3 2,990 2,346 644

1949 378 4 2,551 2,173 378

1950___ 4 175 *1,420

*127

4 3,986 2,391 175 *1,420

1951 2 404 2 1,885 1,354 404 *127

1952 3 227 *760 3 1,339 352 227 *760

1 Sum of losses in the cases in which the disbursement by the Corporation was not paid in full. Excludes interest or allowable return in cases in which the disbursement by the

Corporation was fully recovered. Also excludes gains or losses on assets purchased by the Corporation from liquidations. _

2 Excludes excess collections turned over to banks as additional purchase price at termination of liquidations. Previous reports included these payments.

* Estimated.

FEDERAL DEPOSIT INSURANCE CORPORATION

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INDEX

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I n d e x

Absorptions:

Of insured banks with financial aid of the Corporation. See Banks in financial

difficulties.

Of operating banks, 1952......................................................................................... 84-85

Admission of banks to insurance:

Applications approved.........................................................................................14-15, 84

By class of bank, 1952............................................................................................. 84-85

Areas outside continental United States, banks and branches located in:

Assets and liabilities, December 31, 1952.......................................................... 106-107

Deposits of, December 31, 1952............................................................................. 98-99

Earnings, expenses, profits, and dividends, 1952..............................................126-127

Number of, December 31, 1952............................................................................. 86, 93

Assessment on insured banks for deposit insurance. See Federal Deposit Insurance Corporation.

Assets and liabilities of closed banks. See Banks in financial difficulties.

Assets and liabilities of operating banks (see also Capital of banks; Deposits;

Loans, by banks; Securities):

All banks:

Amount and changes in, by type, 1952.......................................................... 31

Amount and percentage distribution, by type, December, 1946-1952.. 34-35

By FDIC district and State, December 31, 1952.......................................106-107

In banks grouped according to insurance status and type of bank,

June 30 and December 31, 1952..............................................................102-105

Investments, State legislation pertaining to.................................................. 80

Percentage changes, yearly and average, 1947-1952.................................... 35

Percentage distribution, December 31, 1952................................................. 32

Percentage distribution, total liabilities, December 31, 1952................... 33

Commercial banks, June 30 and December 31, 1952...................................... 102-105

Insured banks, December 31, 1951, June 30 and December 31, 1952___ 108-111

Insured commercial banks:

Amount by type, December, 1946-1952......................................................... 37, 39

Amount, December 31,1951, June 30 and December 31,1952.. 102-105,108-111

Averages, by State, class of bank, and size of bank, 1952.........................

............................................................................119, 123, 127, 129, 131, 133, 135

Averages of principal components, 1943-1952............................................... 115

Reports of............................................................................................................. 16

Insured mutual savings banks:

Amount, December 31, 1951, June 30 and December 31, 1952.......... 108-111

Amount, June 30 and December 31, 1952................................................... 102-105

Averages of principal components, 1952........................................................ 136

Mutual savings banks:

Amount, by type, December, 1946-1952........................................................ 51

Amount, June 30 and December 31, 1952................................................... 102-105

Noninsured banks, June 30 and December 31, 1952....................................... 102-105

Sources of data........................................................................................................... 101

Assets and liabilities of the Federal Deposit Insurance Corporation. .19-20, 23, 25, 27

Assets pledged to secure bank obligations................................................................ I ll

Assets purchased by the Federal Deposit Insurance Corporation:

From banks absorbed with financial aid of the Corporation. See Banks in

financial difficulties.

From banks in receivership............................................................................7-11, 20, 27

Liquidation of....................................................................................................... 10-11, 27

Page

147

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148 FEDERAL DEPOSIT INSURANCE CORPORATION

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Audits. See Federal Deposit Insurance Corporation.

Bank supervision (see also Examination of insured banks):

Activities of the Federal Deposit Insurance Corporation................................. 12-16

State legislation, 1952.............................................................................................. 79

Banking offices, establishment of:

Banks beginning operations, 1952..................................................................................84

Branches, establishment approved by Corporation........................................... ........15

Branches opened, 1952.....................................................................................................85

State legislation.............................................................................. .......................... ........79

Banking offices, number of. See Number of operating banks and branches.

Banking practices. See Unsafe and unsound banking practices.

Banks and branches ceasing operations:

All banks and branches, 1952................................................................................. 84-85

Branches of insured banks, 1952......................................................... .................. 85

Insured banks, 1952..................................................................................................84, 143

Noninsured banks, 1952...........................................................................................84, 139

Banks in financial difficulties:

Absorptions of insured banks with financial aid of the Corporation:

Assets and liabilities at date of absorption, by years, 1934-1952.......... 142-143

Banks cited for unsafe and unsound practices........ ................................. 13-14

Deposits protected................................................................................. 7-10, 140-143

Disbursements by the Corporation................................... 7-11, 140-141, 143-144

Loans made and assets purchased by Corporation........................7, 9-11, 20, 27

Losses incurred by Corporation.............................................8-9, 11-12, 21, 24, 27

Name and location of banks absorbed, 1952................................................. 143

Number of banks absorbed.....................................................7, 9-11, 140-141, 144

Number of depositors affected by............................................. .7, 9, 140-141, 143

Recoveries by the Corporation on assets acquired...........................9-11, 28, 144

Sources of data.................................................................................................... 139

Depositors protected by the Corporation in closed banks............................... 7-9

Depositors sustaining loss in closed insured banks, number of....................... 7-9

Insured banks closed:

Deposits of............................................................................................... 7-12, 140-143

Disbursements by the Corporation in connection with.. 7-12, 140-141, 143-144

Loss to depositors................................................................................................ 7-8

Loss to Federal Deposit Insurance Corporation......................................8-12, 144

Number, 1934-1952....................................................................... 7-12, 140-141, 144

Noninsured bank suspensions, 1952......................................................................84, 139

Receivership, insured banks placed in:

Activities of the Corporation as receiver of................................................... 7-11

Assets and liabilities of, at dates of suspension, 1934-1952....................... 142

Depositors’ losses................................................................................................ 7-8

Deposits, 1934-1952......................................................................................... 7-9, 140

Disbursements by the Corporation................................... 7-12, 140-141, 143-144

Losses by the Corporation on disbursements.................................... 8-12, 24, 144

Number of banks.......................................................... ..................... 7, 140-141, 144

Payments to depositors.................................................. ................................... 7-12

Recoveries by the Corporation on disbursements................................... 9-10, 144

Sources of data..................................................................................................... 139

Banks, number of. See Number of operating banks and branches.

Banks operating branches. See Banking offices, establishment of; Number of

operating banks and branches.

Board of Directors of the Federal Deposit Insurance Corporation.............iv, v, 17-18

Board of Governors of the Federal Reserve System, data obtained from----- 101, 113

Branches. See Banking offices, establishment of; Classification of banks and

banking offices; Number of operating banks and branches.

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Bureau of Internal Revenue, Commissioner’s ruling. See U. S. Treasury

Department.

Business and personal deposits (see also Deposits [items referring to type of

account] ) . . . .........................................................................................34, 106-107

Call reports. See Assets and liabilities of operating banks; Reports from banks.

Capital of banks {See also Assets and liabilities of operating banks; Earnings

and expenses of insured commercial banks; Earnings and expenses

of insured mutual savings banks):

All banks, percentage distribution......................................................................... 33

Growth........................................................................................................................ 31

Insured banks placed in receivership or absorbed with financial aid of the

Corporation..................................................................................................142-143

Net additions as a proportion of net profits, insured commercial banks.. . . 48

Percentage distribution, December 31, 1952....................................................... 33

Ratios to total assets, insured commercial banks, 1952...................40, 109, 121, 125

Total capital accounts:

Commercial and mutual savings banks, insured and noninsured, June 30

and December 31, 1952.............................................................................103, 105

Insured banks, December 31, 1951, June 30 and December 31, 1952.. I ll

Charge-offs by banks. See Earnings and expenses of insured commercial banks;

Earnings and expenses of insured mutual savings banks.

Class of bank, banking data presented by (see also Deposits):

Admissions to and terminations of insurance...................................................... 84-85

Banks absorbed with financial aid of the Corporation, 1952........................... 143

Earnings of insured commercial banks, 1952.................................................... 118-121

Insured banks financially aided by the Corporation, 1934-1952.................. 140

Number of banks and banking offices, 1952........................................................ 84-93

Ratios of earnings of insured commercial banks, 1952....................................120-121

Classification of banks and banking offices................................................................ 82-83

Closed banks. See Banks and branches ceasing operations; Banks in financial

difficulties.

Commercial banks. See Assets and liabilities of operating banks; Capital of

banks; Deposits; Earnings and expenses of insured commercial

banks; Number of operating banks and branches.

Commissioner of Internal Revenue, ruling on reserve for bad-debt losses on

loans........................................................................................................46, 101, 113

Comptroller of the Currency:

Data obtained from................................................................................................101, 113

Director of Corporation..................................... .............................................iv, v, 17-18

Comptroller General of the United States.................................................................. 25-26

Consolidations. See Absorptions.

Credit, bank, expansion of during 1952. See Deposits; Loans, by banks.

Defalcations in banks..................................................................................................... 7

Demand deposits. See Assets and liabilities of operating banks; Deposits (items

referring to type of account).

Deposit insurance fund:

Amount, 1934-1952.................................................................................................... 4

Ratio of, to total and insured deposits, insured banks, 1934-1952............... 5

Deposits:

Amount of, all banks:

By class of bank in each State and FDIC district, December 31, 1952.. 98-99

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150 FEDERAL DEPOSIT INSURANCE CORPORATION

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Deposits:—Continued

Amount of, all banks:— Continued

By insurance status of bank and type of account, December 31, 1952.. 105

By insurance status of bank and type of account, June 30, 1952........... 103

By type of account, December 31, 1951-1952............................................... 31

By type of account in each State and FDIC district, December 31,1952.106-107

Amount of, all insured banks:

Annually, 1934-1952........................................................................................... 4

By State, as percentage of deposits in all banks, December 31, 1952 .... 6

By type of account, December 31, 1952........................................................ 105

By type of account, December 31, 1951, June 30 and December 31, 1952 110

By type of account, June 30, 1952.................................................................. 103

Insured and total, 1934-1952............................................................................ 3-4

Amount of, banks receiving financial aid from the Corporation.......... 7-9, 140-143

Amount of, commercial banks:

By FDIC district and State, December 31, 1952....................................... 98-99

By type of account, December 31, 1952........................................................ 105

By type of account, June 30, 1952.............. .................................................. 103

Amount of, insured banks placed in receivership or absorbed with financial

aid of the Corporation. See Banks in financial difficulties.

Amount of, insured commercial banks, by type of account, December 31,

1951, June 30 and December 31, 1952..................................................... 110

Amount of, insured mutual savings banks:

As percentage of deposits of all banks, December 31, 1952....................... 50

By FDIC district and State, December 31, 1952........................................ 98-99

By State, December 31, 1952...................................................................... 52, 98-99

By type of account, December 31, 1951, June 30 and December 31, 1952 110

Amount of, mutual savings banks:

By FDIC district and State, December 31, 1952......................................... 98-99

By State, December 31, 1952......................................................................52, 98-99

By type of account, December 31, 1952......................................................105, 110

By type of account, June 30, 1952.................................................................. 103

Amount of, noninsured banks:

By FDIC district and State, December 31, 1952........................................ 98-99

By type of account and type of bank, December 31, 1952........................ 105

By type of account and type of bank, June 30, 1952................................. 103

Mutual savings banks, by State, December 31, 1952................................. 52

Insured, 1934-1952.................................................................................................... 4

Interest on...................................................................................................43, 46, 114-134

Percentage distribution of, all banks, December 31, 1952............................... 33

Percentage distribution of, insured mutual savings banks, by State, December 31, 1952................................................................................................... 50

Sources of data....................................................................... ................................... 100

State legislation...................................................................... .................................. 80

Dividends:

To depositors in insured mutual savings banks...................................50, 55, 136-137

To stockholders of operating insured commercial banks. See Earnings and

expenses of insured commercial banks.

Earnings and expenses of insured commercial banks:

Accounting procedures used in reporting............................................................. 40

Amounts of principal components:

Annually............................................................................ ................................ 114-115

By class of bank, 1952.................................................................................... 118-119

By size of bank, 1952.......................................................................................122-123

By State, 1952...................................................................................................126-135

Charge-offs and recoveries:

Amounts, 1947-1952........................................................................................... 42, 44

Banks using reserve method of accounting for bad-debt losses on loans,

1948-1952........................................................................................................ 46-47

Recoveries and profits on sale of assets.......................................................... 44

Current operating earnings and expenses, 1952.................................................. 40-46

Dividends.................................................................................................................... 48-49

Income, sources and disposition of total, 1947-1952.......................................... 40-42

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Earnings and expenses of insured commercial banks;—Continued

Net profits after taxes:

Amounts.......................................................................47-48, 115, 119, 123, 127-135

Disposition of, 1952............................................................................................ 48-49

Ratios of earnings items:

Rate of income on loans and securities............................... 43-44, 117, 121, 125

Rate of interest on time and savings deposits...................43, 46, 117, 121, 125

Rate of net profit and cash dividends, by size of bank, 1952 ................... 49

Rate of net profit on total capital accounts, by State, 1952..................... 43, 48

Rate of service charges on demand deposits........................... .43, 117, 121, 125

To current operating earnings, total assets, and total capital accounts,

1944-1952............................................ .................................... ...................... 116

To current operating earnings, total assets, and total capital accounts,

by class and size of bank, 1952...............................................120-121, 124-125

Salaries and wages, 1952 .......................................................................................... 44-45

Sources of data........................................ ................................................................. 113

Taxes 1952 .........................................................................................................41 —42 47

Valuation reserves, transfers to and from. .46, ii3 -il4 , ii.8 -il9 ,122-123, 126-135

Earnings and expenses of insured mutual savings banks:

Amounts of principal components, 1952......................................................53, 136-137

Dividends to depositors...........................................................................50, 55, 136-137

Income, sources and disposition of total, 1952.................................................... 53-54

Rates of income on loans and securities and dividends on deposits........ 53-55, 137

Ratios of earnings and expense items to current operating earnings and

total assets, 1952........................................................................................... 137

Ratio of surplus to total assets.............................................................................. 55

Salaries and wages, 1952......................................................................................... 54-55

Sources of data........................................................................................................... 113

Taxes............................................................................................................................ 55

Valuation adjustment provisions, transfers to and from.................................. 54

Educational program for examiners. See Federal Deposit Insurance Corporation.

Employees:

Federal Deposit Insurance Corporation.......................................................... 17-18, 28

Insured commercial banks:

Average salary, 1952........................................................................................... 44-45

Number and compensation, 1944-1952........................................................ 114-115

Number and compensation, by class of bank, by size of bank, and by

State, December 31, 1952....................................... 118-119, 122-123, 126-135

Insured mutual savings banks:

Average salary, 1952........................................................................................... 55

Number and compensation, 1952.................................................................... 136

Examination of insured banks:

Banks examined by the Federal Deposit Insurance Corporation, 1952 .... 12-13

Examination staff...................................................................................................... 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 and branches ceasing operations; Banks in financial

difficulties.

Federal bank supervisory authorities.......................................................................... 13

Federal Deposit Insurance Corporation:

Assessments on insured banks.................................................................5, 20-24, 27-28

Assets and liabilities.........................................................................19-20, 23, 25, 27-28

Audits.............................................................. ........................................................... 25-28

Banks examined by, and submitting reports to............................................. 12-13, 16

Bank supervisory activities................................................................................ 12-13, 16

Board of Directors........................................................................................... iv, v, 17-18

Borrowing power....................................................................................................... 28

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Federal Deposit Insurance CorporationContinued

Capital stock...................................................................................................20-21, 25, 27

Contingent liability................................................................................................... 3-4

Deposit insurance fund (surplus)...........................................3-5, 20-22, 24-25, 27-28

Depositors protected by. See Banks in financial difficulties.

Directors of the Federal Deposit Insurance Corporation................................. 17-18

Disbursements for protection of depositors. . , .....................7-11, 140-141, 143-144

Districts...................................................................................................................... vi, vii

Divisions.................................................................................. ................................... iv, 18

Educational program for bank examiners............................................................ 18-19

Employees, number of.............................................................................................. 18

Examination of banks. See Examination of insured banks.

Federal Deposit Insurance Act, 1950.................................................................3, 23, 28

Income and expenses.............................................................................. 19, 21-24, 27-28

Insured banks receiving financial aid from. See Banks in financial difficulties.

Insured deposits. See Banks in financial difficulties; Deposits.

Liabilities.................................................................................................. 19-20, 23, 25, 27

Loans to and purchase of assets from insured banks. See Banks in financial

difficulties.

Losses incurred, 1934-1952.............................................................................8-11, 21, 27

Methods of protecting depositors. See Banks in financial difficulties.

Organization and staff............................................................ ........................iv, v, 17-18

Payments to insured depositors................................................................7-11, 140-141

Protection of depositors. See Banks in financial difficulties.

Purchase of assets of banks in receivership................................ ........................ 7-8

Receiver for insured banks......................................................................................7-8,10

Recoveries.............................................................................................................. 7-11, 144

Reports from banks.................................................................................................. 16

Reserves for losses on assets acquired.................................................................. 20, 27

Retirement of capital stock of the Corporation..................................................20, 23

Rules and regulations....................................................................................13-14, 17, 79

Supervisory activities............................................................................................... 12-16

Surplus (deposit insurance fund)...........................................3-5, 20-22, 24-25, 27-28

Federal Deposit Insurance Corporation districts, banking data classified by:

Assets and liabilities of all banks, December 31, 1952....................................... 106

Deposits. See Deposits.

Number and deposits of banks, by type of bank, December 31, 1952.......... 98

Federal Reserve System. See Board of Governors of the Federal Reserve System.

Fixed and miscellaneous assets. See Assets and liabilities of operating banks;

Banks in financial difficulties.

General Accounting Office............................................................................................. 26

Government deposits. See Deposits (items referring to type of account).

History of bank obligation insurance, 1829-1930:

State guaranty systems:

Assessments.............................................................................................. 63, 65, 70-71

Bank failures, effect of....................................................................................... 72

Bank participation...................................................................................62-64, 68-70

Character.............................................................................................................. 64, 66

Coverage.............................................................................................61-62, 64, 67-68

Custody of insurance funds............................................................................... 70

Deposits of banks participating....................................................................... 70

Differences among.................................................................................... 60-63, 68-69

Free banking, effect of....................................................................................... 63

Future studies...................................................................................................... 59

Legislation............................................................................................................ 61

National bank conversions, effect of...............................................................65, 68

Payments to depositors and noteholders............................... 63, 65-67, 69, 71-72

Periods of operation............................................................................................ 60-61

Purpose........................................................................................................... .59-60, 66

Size of funds......................................................................................................... 63

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History of bank obligation insurance, 1829-1930:—Continued

State guaranty systems:—Continued

States adopting................................................... ........................ 60-62, 64, 67-68, 70

United States Supreme Court decision affecting.......................................... 59

United States Government guaranty of national bank notes.......................... 65-66

Income of insured banks. See Earnings and expenses of insured commercial

banks; Earnings and expenses of mutual savings banks.

Income of the Federal Deposit Insurance Corporation. See Federal Deposit

Insurance Corporation.

Insolvent banks. See Banks in financial difficulties.

Insurance of bank obligations prior to Federal Deposit Insurance. See History

of bank obligation insurance, 1829-1930.

Insurance status, banks classified by:

Assets and liabilities of, June 30 and December 31, 1952............................. 102-105

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

by type of office and population of center in which located............... 96-97

Changes in number of, 1952................................................................................... 84-85

Deposits of, December 31, 1952................................. ........................................... 98-99

In each State, December 31, 1952..............................................................86-93, 98-99

Mutual savings banks, number and deposits, by State, December 31, 1952.. 52

Number of, December 31, 1952................................................................... .......... 4-5

Percentage of banks insured, by State, December 31, 1952............................. 5-6

Insured commercial banks not members of the Federal Reserve System. See

Class of bank, banking data presented by.

Insured commercial banks submitting reports to the Corporation................... 16

Insured deposits. See Banks in financial difficulties; Deposits.

Insured loans......................................................................................................... 37-38, 54-55

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.

Interest on capital advanced to the Federal Deposit Insurance Corporation... 24

Investments of banks. See Assets and liabilities of operating banks; Securities.

Law, violations of by insured banks. See Unsafe and unsound banking practices.

Legislation relating to deposit insurance and banking:

Federal, enacted in 1952:

Capital requirement changes, State banks and branches, members

Federal Reserve System.............................................................................. 17, 78

Insurance of deposits payable at Puerto Rico branches............................. 17, 75

National Bank Conversion Act, modification of. See National Bank

Conversion Act.

National Bank Merger Act. See National Bank Merger Act.

State, enacted in 1952..........................................................................................17, 79-80

Liquidation, banks placed in, 1952.............................................................................. 84

Loans:

By banks (see also Assets and liabilities of operating banks):

Amount and percentage distribution in all banks, by type, 1946-1952.. 32-36

Amount in insured commercial banks, by type, December 31, 1946-1952 39

Growth in insured commercial banks, by type, December 31, 1946-1952 39

Income and charge-offs on............................................................................43, 46-47

Insured or guaranteed real estate.................................................................... 37-38

Provision for losses..............................................................................46-47, 101, 113

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154 FEDERAL DEPOSIT INSURANCE CORPORATION

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Loans:—Continued

By banks {see also Assets and liabilities of operating banks):— Continued

Rate of income on..............................................................43-44, 117, 121, 125, 137

Residential real estate........................................................................................ 37-38

By Federal Deposit Insurance Corporation to insolvent or hazardous

insured banks. See Banks in financial difficulties.

Losses:

Of banks, charged off. See Earnings and expenses of insured commercial

banks; Earnings and expenses of insured mutual savings banks.

Of depositors. See Banks in financial difficulties.

Of the Federal Deposit Insurance Corporation. See Federal Deposit Insurance Corporation.

Of the Reconstruction Finance Corporation on preferred stock investments

in banks.......................................................................................................... 11-12

Provision for, in banks.............................................................................. 46-47, 113-137

Mergers. See Absorptions.

Methods of tabulating banking data:

Assets and liabilities of operating banks.............................................................. 101

Deposit insurance disbursements........................................................................... 139

Earnings, expenses, profits, and dividends of insured banks........................... 113

Number, offices, and deposits of operating banks.............................................. 82-83

Mutual savings banks. See Assets and liabilities of operating banks; Capital

of banks; Deposits; Earnings and expenses of insured mutual savings

banks; Number of operating banks and branches.

National Bank Conversion Act.................................................................................... 17, 75

National Bank Merger Act.......................................................................................17, 76-78

National banks. See Class of bank, banking data presented by.

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 Banking offices, establishment of.

Noninsured banks. See Absorptions; Admission of banks to insurance; Assets

and liabilities of operating banks; Capital of banks; Class of bank,

banking data presented by; Deposits; Number of operating banks

and branches.

Number of operating banks and branches:

All banks:

By insurance status in each State and FDIC district...... ........................ 98-99

By type and insurance status, December 31, 1952...................................... 5

In each State and FDIC district, with assets and liabilities...................106-107

June 30, 1952....................................................................................................... 103

All banks and branches, by class of bank in each State, December 31,1952.. 86-93

All commercial banking offices in center in which located and by type of

office and population of center in which located.................................... 96-97

Branches:

By class of bank and State, December 31, 1952.......................................... 86-93

By location, by population of center in which located, and by State. . . . 94-95

Changes by type of change and class of bank during 1952............................... 84-85

Commercial banks, June 30, 1952, by character of branch system...............94-95

Insured banks:

Admission to insurance........................................................................... 14-15, 84-85

Branches, approval of, by Corporation.......................................................... 15

December 31, 1951, June 30 and December 31, 1952................................. I ll

Termination of insurance...................................................................................15, 84

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Number of operating banks and branches:—Continued

Insured commercial banks:

By FDIC district and State, December 31, 1952......................................... 98-99

Operating December 31, 1952.......................................................................... 4, 111

Operating throughout 1952, by amount of deposits................................. 123, 125

Using reserve method of accounting for bad-debt losses on loans, by

class of bank, 1948-1952.............................................................................. 46-47

Insured mutual savings banks:

By FDIC district and State, December 31, 1952....................................52, 98-99

Operating December 31, 1952.......................................................................... 4, 111

Noninsured banks:

By class of bank, FDIC district and State, December 31, 1952.......... 52, 98-99

Failures during 1952........................................................................................... 139

Unit banks, by class of bank and State, December 31, 1952........................... 86-93

Officers of the Federal Deposit Insurance Corporation.......................................... 17-18

Officers of insured banks. See Employees.

Operating banks. See Number of operating banks and branches.

Payments to depositors in closed insured banks. See Banks in financial

difficulties.

Personnel. See Employees.

Possessions, banks and branches located in: See Areas outside continental

United States, banks and branches located in.

Postal savings deposits in banks....................................................................... 103, 105, 110

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).

Publications of the Corporation................................................................................... 16

Purchase of bank assets by Corporation. See Assets purchased by the Federal

Deposit Insurance Corporation; Banks in financial difficulties.

Receivership, insured banks placed in. See Banks in financial difficulties.

Reconstruction Finance Corporation:

Loans guaranteed by................................................................................................ 38

Losses on capital of insured banks........................................................................ 11-12

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..............................................................8-10, 144

Reports from banks......................................................................................................... 16

Reserves:

For bad-debt losses on loans, ruling of Commissioner of Internal

Revenue. ..................................................................................................46-47, 113

In bank assets and liabilities. See Assets and liabilities of operating banks.

Of Federal Deposit Insurance Corporation, for losses on assets acquired.. 20

Surplus (deposit insurance fund) of the Corporation............ 4, 20-21, 24-25, 27-28

Salaries and wages:

Federal Deposit Insurance Corporation............................................................... 23

Insured banks. See Earnings and expenses of insured commercial banks;

Earnings and expenses of insured mutual savings banks.

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Savings and time deposits. See Deposits (items referring to type of account).

Securities {See also Assets and liabilities of operating banks):

Charge-offs on securities held by insured banks.................................................42, 44

Held by Federal Deposit Insurance Corporation..........................................20, 25, 27

Held by insured banks placed in receivership or absorbed with financial

aid of the Corporation, 1934-1952............................................................. 142

Held by operating banks. See Assets and liabilities of operating banks.

Interest on securities held by banks. See Earnings and expenses of insured

commercial banks; Earnings and expenses of insured mutual savings

banks.

Profits on securities sold by insured banks. See Earnings and expenses of

insured commercial banks; Earnings and expenses of insured mutual

savings banks.

United States Government obligations held by insured commercial banks:

Amounts and percentage distribution by maturities, December 31, 1952 38

Income from, 1945-1952..................................................................................... 43-44

United States Government obligations held by mutual savings banks.. . . 51-52

Size of banks, data for banks classified by amount of deposits:

Banks receiving financial aid from the Corporation, 1934-1952................... 140

Deposits. See Deposits.

Disbursements for protection of depositors, 1934-1952..................................... 140

Earnings data of insured commercial banks, 1952....................................... 122-123

Earnings ratios of insured commercial banks, 1952.........................................124-125

Employees, number and average salary, insured commercial banks, 1952.. 44-45

Insured deposits. See Deposits.

Net profits retained in capital accounts, insured commercial banks, 1952.. 48

Number of banks. See Number of operating banks and branches.

Rate of income on loans, insured commercial banks, 1952........................... 41-43

Sources of data...............................................................................................16, 101, 113, 139

State and local government obligations. See Assets and liabilities of operating

banks.

State bank supervisory authorities:

Data obtained from.................................................................................................. 16,101

State legislation regarding...................................................................................... 79

State, banking data classified by:

Assets and liabilities of operating banks, December 31, 1952.......................106-107

Deposits:

All banks, December 31, 1952........................................................................106-107

Commercial banks, insured and noninsured.................................................. 98-99

Mutual savings banks, December 31, 1952................................................... 50

Mutual savings banks, insured and noninsured, December 31, 1952. .52, 98-99

Disbursements by the Corporation, cumulative, 1934-1952.......................... 140-141

Earnings and expenses of insured commercial banks, 1952........................... 126-135

Net earnings and net profits of insured commercial banks, rates of, 1952.. 126-135

Net profits after taxes as a proportion of total capital accounts, 1952. . .. 48

Number and deposits of mutual savings banks, December 31, 1952............. 50

Number of operating banks or offices, December 31, 1952:

All banking offices, by class of bank and type of office........................... 86-93

Commercial banks, insured and noninsured..................................... 86-93, 98-99

Mutual savings banks, insured and noninsured.......................... 52, 86-93, 98-99

Proportion of banks insured, December 31, 1952..................................... 5, 52, 86-93

Proportion of deposits in all banks held by insured banks, December 31,1952 6

Residential real estate loans, insured or guaranteed, December 31, 1952.. 37-38

State banking legislation enacted in 1952............................ .................................17, 79-80

State banks members of the Federal Reserve System. See Class of bank, banking

data presented by.

State bank not members of the Federal Reserve System. See Class of bank,

banking data presented by.

State insurance systems for bank obligations, history of, 1829-1930. See History

of bank obligation insurance, 1829-1930.

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Stockholders of banks, net profits available for. See Earnings and expenses of

insured commercial banks.

Supervision. See Bank supervision.

Suspensions. See Banks and branches ceasing operations; 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................................ 13-14

Time and savings deposits. See Deposits (items referring to type of account).

Trust companies:

Classification of................................................................................................... .. 82-83

Noninsured, not engaged in deposit banking......................5, 84-93, 98-99, 102-105

State legislation......................................................................................................... 80

Trust powers, applications for...................................................................................... 16

Unit banks. See Number of operating banks and branches.

United States Government guaranty of national bank notes. See History of

bank obligation insurance, 1829-1930.

United States Government obligations. See Assets and liabilities of operating

banks; Securities.

United States Treasury Department, Commissioner of Internal Revenue,

ruling on reserves for bad-debt losses on loans............................. 46, 101, 113

Unsafe and unsound banking practices...................................................................... 13-14

Valuation reserves.................................................................................46, 101, 104, 109, 113

Violations of law or regulations, banks charged with. See Unsafe and unsound

banking practices.

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Federal Reserve Bank of St. Louis