ANNUAL REPORT

OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

FOR THE YEAR ENDED 

DECEMBER 31, 1954

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
L E T T E R OF T R A N S M IT T A L

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

Washington, D. C., July 21, 1955

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. Part One of the report, 

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

Respectfully,

H . E. C o o k , Chairman

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

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

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

N a t i o n a l P r e s s B u ild in g — W a s h in g to n 25, D. C.

BOARD OF DIRECTORS

Chairman............................................................................................ H. E. C o o k

Comptroller of the Currency........................................................... R a y M . G id n ey

Director................................................................................................ M a p le T. H a r l

OFFICIALS—July 21, 1955

Assistant to Chairman (Acting) ................................................... Russell E. Shearer

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

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

y

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

D is t . S u p e rv isin 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. George M. Hirning

11. Lloyd Thomas

12 David A. Linder

A d d r e ss St a t e s in D is t r ic t

Room 1365, No. 10 P.O.

Square, Boston 9, Mass.

Room 1900, 14 Wall Street,

New York 5, N. Y.

Maine, New Hampshire,

Vermont, Massachusetts,

Rhode Island, Connecticut

New York, New Jersey,

Delaware, Puerto Rico,

Virgin Islands

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,

Mo.

Federal Reserve Bank

Building, Station K,

Dallas 13, Texas

Suite 1120, 315 Montgomery Street, San

Francisco 4, Calif.

Ohio, Pennsylvania

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

South Carolina

Georgia, Florida, Alabama,

Mississippi

Kentucky, Tennessee,

Missouri, Arkansas

Indiana, Michigan,

Wisconsin

Illinois, Iowa

Minnesota, North Dakota,

South Dakota, Montana

Nebraska, Kansas,

Oklahoma, Colorado,

Wyoming

Louisiana, Texas,

New Mexico, Arizona

Idaho, Utah, Nevada,

Washington, Oregon, California, Alaska, Hawaii

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

,os rot*

DISTRICT 2 Includes PUERTO RICO a VIRGIN ISLANDS

DISTRICT 4 Includes DISTRICT OF COLUMBIA

DISTRICT 12 Includes HAWAII a ALASKA

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
CONTENTS

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

PART ONE

OPERATIONS OF THE CORPORATION

Participation in deposit insurance..................................................................................... 3

Action to protect depositors in failing banks................................................................. 3

Supervisory activities............................................................................................................. 6

Legal developments................................................................................................................. 13

Organization and personnel.................................................................................................. 14

Financial statements of the Corporation......................................................................... 16

PART TW O

BANKING DEVELOPMENTS

Number of banks and their insurance status................................................................. 29

Assets and liabilities of all banks....................................................................................... 32

Assets and liabilities of insured commercial banks....................................................... 40

Assets and liabilities of insured mutual savings banks............................................... 45

Income of insured commercial banks................................................................................ 48

Income of insured mutual savings banks......................................................................... 54

PART THREE

ASSETS AND LIABILITIES OF BANKS GROUPED B Y SIZE

Proportions of assets and liabilities of all insured commercial banks held by

various size groups of banks............................................................................................ 61

Average asset and liability structures of banks within size groups........................ 69

Distributions of banks according to their individual asset and liability ratios. . 75

Data for previous years......................................................................................................... 84

PART FOUR

LEGISLATION AND REGULATIONS

Federal legislation.................................................................................................................... 87

Rules and regulations of the Corporation....................................................................... 87

State banking legislation....................................................................................................... 101

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Number, offices, and deposits of operating banks........................................................ 106

Assets and liabilities of operating banks......................................................................... 120

Earnings, expenses, and dividends of insured banks................................................... 136

Deposit insurance disbursements....................................................................................... 164

Page

ix

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
LIST OF CHARTS

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

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

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

banks mid-year and year end, 1934-1954........................................................... 18

B. Sources and disposition of income of the Federal Deposit Insurance Corporation for the calendar years 1949 and 1954..................................................... 21

C. Percentage of banks of deposit in each State which were insured, December

31, 1954.......................................................................................................................... 32

D. Percentage of deposits in banks of deposit in each State which were in insured banks, December 31, 1954........................................................................... 33

E. Holdings of government obligations and loans, all banks, December 31,

1946-1954....................................................................................................................... 37

F. Ratios of total capital accounts to total assets of insured commercial banks,

December 31, 1934-1954......................................................... ............................. 44

G. Sources and disposition of total income, insured commercial banks 1954.. 50

H. Rates of net profits after taxes on total capital accounts, insured commercial

banks in each state, 1954......................................................................................... 53

I. Rates and disposition of net profits after taxes compared with capital ratios,

insured commercial banks, by size of bank, 1954........................................... 54

J. Sources and disposition of total income insured mutual savings banks, 1954 55

K. Percentage distributions of insured commercial banks and of their aggregate

asset items among size groups, June 30, 1954.................................................. 61

L. Percentage distributions of insured commercial banks and of their aggregate

loan items among size groups, June 30, 1954................................................... 63

M. Percentage distributions of insured commercial banks and of their aggregate

deposit items among size groups, June 30, 1954.............................................. 67

N. Percentage distributions of balances with other banks and of interbank

deposit liabilities among size groups of insured commercial banks, June

30, 1954.......................................................................................................................... 67

O. Percentage distributions of loans and discounts within size groups of insured

commercial banks, June 30, 1954.......................................................................... 71

P. Average capital ratios of insured commercial banks, within size groups,

June 30, 1954................................................................................................................ 75

L I S T OF T A B L E S

PART ONE

OPERATIONS OF THE CORPORATION

Page

A ction to protect depositors in failing banks:

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

Corporation in transactions for protection of depositors and to facilitate

termination of liquidations, 1934-1954................................................................ 5

Supervisory activities:

2. Applications acted upon by the Board of Directors of the Federal Deposit

Insurance Corporation during 1954..................................................................... 8

3. Bank examination activities of the Federal Deposit Insurance Corporation

in 1954............................................................................................................................ 9

4. Unsafe or unsound banking practices and violations of law charged against

eleven banks by the Corporation during 1954................................................. 11

5. Number of banks charged with unsafe or unsound banking practices and

violations of law or regulations in each year, 1936-1954............................... 12

6. Actions to terminate insured status of banks charged with unsafe or unsound banking practices or violations of law or regulations, 1936-1954. . 12

Page

x

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
LIST OF TABLES XI

Or g a n iz a t io n a n d p e r s o n n e l :

7. Number of officers and employees of the Federal Deposit Insurance Corporation, December 31, 1954....................................................................................... 14

8. Results of the Corporation’s educational program for examiners, 1946-1954 15

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

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

December 31, 1954..................................................................................................... 17

10. Insured deposits and the deposit insurance fund, 1934-1954........................... 19

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

change in the deposit insurance fund for the year ended December 31,

1954................................................................................................................................. 20

12. Administrative and operating expenses of the Federal Deposit Insurance

Corporation for the year ended December 31, 1954....................................... 21

13. Determination of net assessment income of the Federal Deposit Insurance

Corporation for 1954, and distribution as of December 31, 1954.............. 22

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

December 31, 1934-1954........................................................................................... 23

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

years, from beginning of operations, September 11,1933, to December 31,

1954, adjusted to December 31, 1954.................................................................. 24

16. Audit report of the Federal Deposit Insurance Corporation for the year

ended June 30, 1954................................................................................................... 24

PART TW O

BANKING DEVELOPMENTS

N u m b e r of b a n k s a n d t h e ir in s u r a n c e s t a t u s :

17. Number and changes in operating banking offices in the United States

(continental U. S. and other areas), 1946-1954............................................... 29

18. Number and percentage change in banks and branches in each State,

December 31, 1946, to December 31, 1954........................................................ 30

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

U. S. and other areas), December 31, 1954....................................................... 31

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

20. Amounts, changes, and percentage distributions of assets and liabilities,

all banks in the United States (continental U. S. and other areas), 1954 34

21. Percentage changes in assets and deposits, all banks in the United States

(continental U. S. and other areas), half-years and years, 1947-1954.. 36

22. Major components of assets, all banks in the United States (continental

U. S. and other areas), December 31, 1946 and 1954, and annual percentage changes, 1947-1954..................................................................................... 38

23. Types of loans, all banks in the United States (continental U. S. and all

other areas), December 31, 1946 and 1954, and annual percentage

changes, 1947-1954..................................................................................................... 39

24. Deposits and capital, all banks in the United States (continental U. S. and

other areas), December 31, 1946 and 1954, and annual percentage

changes, 1947-1954..................................................................................................... 40

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

25. Amounts, changes, and percentage distributions of assets and liabilities,

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

other areas), 1954....................................................................................................... 41

26. Components of “other loans to individuals” by insured commercial banks

in the United States (continental U. S. and other areas), December 31,

1946 and 1954, and annual percentage changes 1947 to 1954.................... 42

27. United States Government obligations held by insured commercial banks

in the United States (continental U. S. and other areas), December 31,

1946 and 1954, and average annual percentage change, 1947 to 1954. .. 43

Page

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

28. Amounts and percentage distributions of capital accounts, insured commercial banks in the United States (continental U. S. and other areas),

December 31, 1934-1954........................................................................................... 44

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

29. Amounts, changes, and percentage distributions of assets and liabilities,

insured mutual savings banks, 1954......................................................................... 45

30. Comparative growth rates and year-end percentage distributions of assets

and liabilities of insured commercial banks and insured mutual savings

banks, 1954................................................................................................................... 47

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 :

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

United States (continental U. S. and other areas), 1947-1954.................... 48

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

(continental U. S. and other areas), 1947-1954................................................ 50

33. Number and compensation of employees of insured commercial banks in

the United States (continental U. S. and other areas), 1947-1954........... 51

34. Reserves for losses on securities and loans, and ratios of reserves to average

securities and loans, insured commercial banks in the United States

(continental U. S. and other areas), 1948-1954................................................ 52

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

35. Amounts and percentage distributions of total income, insured^mutual

savings banks, 1953 and 1954, and percentage change, 1953 to 1954.. 56

36. Selected amounts and average rates of income and disbursements of insured

mutual savings banks, 1951-1954.......................................................................... 56

PART THREE

ASSETS AND LIABILITIES OF BANKS GROUPED B Y SIZE

P r o po r t io n s of a sse t s a n d l ia b il it ie s o f a l l in s u r e d c o m m e r c ia l b a n k s

HELD BY VARIOUS SIZE GROUPS OF BANKS:

37. Percentage distributions of insured commercial banks and of their aggregate asset items among size groups, June 30, 1954......................................... 62

38. Percentage distributions of insured commercial banks and of their aggregate gross loan items among size groups, June 30, 1954............................... 64

39. Percentage distributions of insured commercial banks and of their aggregate deposit items among size groups, June 30, 1954.................................... 66

40. Percentage distributions of assets within size groups of insured commercial

banks, June 30, 1954................................................................................................. 68

41. Percentage distributions of loans and discounts within size groups of

insured commercial banks, June 30, 1954.......................................................... 70

42. Percentage distributions of United States Government obligations within

size groups of insured commercial banks, June 30, 1954.............................. 72

43. Percentage distributions of total liabilities and capital accounts and of

deposits within size groups of insured commercial banks, June 30, 1954 74

44. Distributions of insured commercial banks wTithin size groups according to

their individual ratios of United States Government obligations to total

assets, June 30, 1954.................................................................................................. 76

45. Distributions of insured commercial banks within size groups according to

their individual ratios of obligations of States and political subdivisions

to total assets, June 30, 1954.................................................................................. 77

46. Distributions of insured commercial banks within size groups according to

their individual ratios of net loans and discounts to total assets, June 30,

1954................................................................................................................................. 77

47. Distributions of insured commercial banks within size groups according to

their individual ratios of gross commercial and industrial loans to total

assets, June 30, 1954.................................................................................................. 78

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
LIST OF TABLES xiii

Page

48. Distributions of insured commercial banks within size groups according to

their individual ratios of gross agricultural loans (including loans on

farm land) to total assets, June 30, 1954........................................................... 79

49. Distributions of insured commercial banks within size groups according to

their individual ratios of gross real estate loans (excluding loans on farm

land) to total assets, June 30, 1954..................................................................... 79

50. Distributions of insured commercial banks within size groups according to

their individual ratios of gross other installment loans to individuals to

total assets, June 30, 1954....................................................................................... 80

51. Distributions of insured commercial banks within size groups according to

their individual ratios of business and personal deposits to total deposits,

June 30, 1954............................................................................................................... 80

52. Distributions of insured commercial banks within size groups according to

their individual ratios of government and postal savings deposits to total

deposits, June 30, 1954............................................................................................. 82

53. Distributions of insured commercial banks within size groups according to

their individual ratios of interbank deposits to total deposits, June 30,

1954................................................................................................................................. 82

54. Distributions of insured commercial banks within size groups according to

their individual ratios of total demand deposits to total deposits, June

30, 1954.......................................................................................................................... 83

55. Distributions of insured commercial banks within size groups according to

their individual ratios of capital to total assets, June 30, 1954.................. 83

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...................................................................................................................... 106

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

the United States (continental U. S. and other areas) during 1954.... 108

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

U. S. and other areas), December 31, 1954

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

and type of office................................................................................................ 110

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

U. S. and other areas), December 31, 1954

Banks grouped according to insurance status and by district and State.. 118

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

Explanatory note...................................................................................................................... 120

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

U. S. and other areas), June 30, 1954

Banks grouped according to insurance status and type of bank............... 122

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

U. S. and other areas), December 31, 1954

Banks grouped according to insurance status and type of bank............... 124

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

U. S. and other areas), December 31, 1954

Banks grouped by district and State................................................................. 126

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

(continental U. S. and other areas), December 31, 1954, June 30, 1954,

and December 31, 1953.......................................................................................... 128

108. Assets and liabilities of operating insured commercial banks in the United

States (continental U. S. and other areas), June 30, 1954

Banks grouped according to amount of deposits........................................... 132

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

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 in s u r e d b a n k s :

Explanatory note...................................................................................................................... 136

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

United States (continental U. S. and other areas), 1946-1954.................. 138

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

in the United States (continental U. S. and other areas), 1946-1954......... 140

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

United States (continental U. S. and other areas), 1954

By class of bank..................................................................................................... 142

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

in the United States (continental U. S. and other areas), 1954

By class of bank.................................................................................................... 144

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

throughout 1954 in the United States (continental U.S. and other areas)

Banks grouped according to amount of deposits........................................... 146

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

operating throughout 1954 in the United States (continental U. S. and

other areas)

Banks grouped according to amount of deposits........................................... 148

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

United States (continental U. S. and other areas), by State, 1954.... 150

116. Income, expenses, and dividends of insured mutual savings banks, 1951-

1954............................................................................................................................... 160

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

banks, 1951-1954....................................................................................................... 162

D e p o sit in s u r a n c e d is b u r s e m e n t s:

Explanatory note...................................................................................................................... 164

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

by the Federal Deposit Insurance Corporation, 1934-1954

Banks grouped by class of bank, year of receivership or deposit assumption, amount of deposits, and State.............................................................. 166

119. Assets and liabilities of insured banks placed in receivership and insured

banks of which deposits were assumed by another insured bank with

the financial aid of the Federal Deposit Insurance Corporation, 1934-

1954

A s shown by books of bank at date of closing................................................ 168

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

and assets and liabilities at date of closing, insured banks of which

deposits were assumed by another insured bank with the financial aid

of the Corporation during 1954........................................................................... 169

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

potentially recoverable disbursements for protection of depositors in

insured banks financially aided by the Corporation, 1934-1954

As shown by books of FDIC, December 31, 1954........................................ 170

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
SUMMARY

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

In 21 years of operation the Federal Deposit Insurance Corporation 

has disbursed approximately $330 million for protection of depositors 

in 424 banks, but has recovered over 90 percent of these disbursements. 

From total deposits of $560 million, depositors lost only $2 million. In 

1954 two banks required disbursements. (Pp. 3-6).

During 1954 the Board of Directors brought charges of unsafe and 

unsound practices against 11 insured banks. (P. 6).

At the close of 1954 the Corporation had assets of $1,633 million and 

liabilities of $90 million. This left a deposit insurance fund of $1,543 

million, equal to 0.76 percent of total deposits in insured banks. Corporation income in 1954 was $181 million, about one-half of which was added 

to the deposit insurance fund. Operating expenses of the Corporation, 

including provision for insurance losses, were $8 million. The remainder 

was returned to insured banks as net assessment income credits. (Pp. 

16-22).

At the end of 1954 the nation had 14,409 operating banks and 6,751 

branches of banks. Of all banks of deposit, 94.4 percent were insured 

by the Corporation. (Pp. 29-31).

Assets of all operating banks at year end were $233 billion, and deposits $212 billion, each having increased approximately 5 percent during 

the year. Security holdings of banks increased by 7.9 percent, and their 

loans by 6.3 percent. The major component of loan growth was real 

estate loans. Time and savings deposits grew more rapidly than did 

demand deposits. (Pp. 32-35).

The average annual growth in bank assets over the past eight years 

has been 4.1 percent. Various components of assets have grown at 

markedly different rates, both in each separate year and also for the 

period as a whole. (Pp. 35-38, 41-42).

Insured commercial banks received 51 percent of their total income 

in 1954 from loans and 20 percent from United States Government 

obligations. Net profits after taxes were equal to 9.5 percent of average 

capital accounts, the highest rate since 1946. (Pp. 48-53).

Specially developed statistics of the assets and liabilities of insured 

commercial banks on June 30, 1954, give previously unavailable information as to (1) proportions held by various size groups of banks, 

(2) asset and liability structures within size groups, and (3) numbers of 

individual banks having specified asset and liability ratios. Differences 

between large and small banks are described, and a large amount of 

variation in asset and liability structures is shown to exist within size 

groups of banks. (Pp. 59-84).

xvii

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS OF THE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Pa r t ic ip a t io n in D e p o s it I n s u r a n c e

At the end of 1954 the deposits of 13,541 banks were protected by 

Federal deposit insurance. Of this total 13,323 were commercial banks 

and 218 were mutual savings banks. Insured banks constituted 94.4 

percent of all banks of deposit on December 31, 1954, as compared with

94.2 percent at the beginning of the year. Changes in the number and 

deposits of insured and noninsured banks are treated in detail in Part 

Two of this report.

A c t io n t o P r o t e c t D e p o sit o r s i n F a il in g B a n k s

Disbursements for protection of depositors 1934-1954. In the

21 years of Federal deposit insurance, up to December 31, 1954, the 

Corporation disbursed funds for protection of depositors in 424 banks. 

Of this total 245 banks were placed in receivership. The depositors of 

these banks were paid by the Federal Deposit Insurance Corporation 

up to the maximum provided by law. The remaining 179 cases of disbursements for protection of depositors were those in which the Corporation utilized its statutory authority to make loans to or purchase the 

assets of financially distressed banks. In such cases the entire known 

deposit liabilities of the failing banks were assumed by solvent insured 

banks.

Amounts paid to depositors in receivership cases and amounts loaned 

to insured banks or paid for their assets in deposit assumption cases 

are classified as principal disbursements, and are potentially recoverable 

by the Corporation. When an insured bank is placed in receivership 

the depositors who are paid by the Corporation turn over to it equivalent 

claims against the receiver of the bank. These assigned or subrogated 

depositors’ claims entitle the Corporation to receivers’ dividends on a 

parity with other similar claims. When the Corporation makes a loan 

to or purchases assets from an insured bank to facilitate assumption of 

its deposits by another insured bank, the Corporation’s disbursement 

is potentially recoverable from the liquidation of the assets thus acquired.

Liquidation of assets acquired in deposit assumption cases requires 

disbursements by the Corporation for liquidation expenses and advances 

to protect the value of assets awaiting liquidation. Such disbursements 

are also potentially recoverable from the proceeds of the liquidations 

in which they are incurred.

3

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

In addition to disbursements of the types described above, the Corporation makes other disbursements for the protection of depositors which 

are not recoverable. These include administrative expenses in paying 

insured deposits in receivership cases, and also such expenses as those 

incurred in preliminary investigations of banks in financial difficulties 

and in analyzing deposit and other claims against banks in which deposits 

were assumed by another insured bank.

In some instances the Corporation has purchased, through competitive 

bidding at public sale, the last remaining assets of receivers of insured 

banks. Such purchases were made for the two-fold purpose of eliminating 

further receivership expenses and of assuring maximum recovery on 

the assets thus acquired. The Corporation has also purchased the last 

remaining assets in some deposit assumption cases. Assets acquired in 

this manner are owned outright by the Corporation and all further 

recoveries on such assets accrue to the Corporation.

Amounts disbursed by the Corporation in each of the ways discussed 

above, from the beginning of operations to December 31, 1954, are given 

in Table 1. The table also shows the amounts recovered and lost, the 

amounts of interest and contractually allowable return received upon 

principal disbursements, and the net loss of funds to the Corporation.

From the beginning of its operations to the end of 1954 the Corporation 

had disbursed $330.7 million to protect depositors and facilitate termination of liquidations. Of this total, $328.3 million was the amount 

disbursed for protection of depositors of 424 insured banks and potentially 

recoverable through claims against receiverships and liquidation of 

assets acquired. The remaining $2.4 million consisted of the nonrecoverable disbursements for protection of depositors and the disbursements 

to facilitate termination of liquidations.

Of the $328.3 million of potentially recoverable disbursements for 

protection of depositors $299.4 million had been recovered by December 

31, 1954. It is estimated that additional recoveries will amount to $1.1 

million, resulting in an estimated loss of $27.8 million, or 8.5 percent of 

the disbursements in the 424 cases. If allowance is made for the interest 

and allowable return received in these cases, the net loss of funds on 

the same disbursements was $19.0 million, or 5.8 percent of disbursements.

From its total disbursement of $330.7 million in transactions for 

protection of depositors and to facilitate termination of liquidations 

the Corporation had, by the end of 1954, recovered $301.6 million. 

Allowing for estimated future recoveries of $1.1 million, losses on the 

total disbursements were $28.0 million. This was partially offset by 

$8.8 million of interest and allowable return received, leaving a net loss 

of funds in all transactions of $19.2 million.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ACTION TO PROTECT DEPOSITORS IN FAILING BANKS 5

T a b le 1 . A n a ly s is o f D isb u r se m e n ts an d R e c o v e r ie s o f t h e F e d e r a l

D e p o s it in su 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 f o r P r o t e c t io n o f

D e p o s ito r s an d t o F a c i li t a t e T e r m in a tio n o f L iq u id a tio n s, 1934-1954

(In thousands)

Item

Disbursements........................

Principal..................................

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

Advances for asset

protection............................

Payoff expenses......................

Operating expenses,

Deposit Insurance

National Bank...................

Other insurance expenses.. .

Recoveries and income to

December 31, 1954. . .

Recoveries of

disbursements................

Profit and net income. . . .

Estimated future recoveries

of disbursements...........

Deposit insurance losses

On potentially recoverable

disbursements.....................

On other transactions..........

Interest and allowable return collected..................

Net loss of funds.

$330,736

283,369

14,077

32,457

783

9

41

$301,638

300,811

827

$ 1,106

$ 27,992

27,796

196

$ 8,748

$ 19,244

1 Net profit and net income.

Transactions for protection of depositors

Transactions to

facilitate

termination of

liquidations

Disbursements potentially

recoverable

Disbursements

not recoverable

Total

(424

banks)

Deposit

assumption

cases

(179

banks)

Receivership

cases

(245

banks)

$328,295

282,022

13,901

32,372

$241,251

194,978

13,901

32,372

$87,044

87,044

$833 $1,608

1,347

176

85

783

9

41

$299,410

299,410

$226,544

226,544

$72,866

72,866

$2,228

1,401

827

$ 17

$ -6371

$ 1,089

$ 27,796

27,796

$ 1,089

$ 13,618

13,618

$14,178

14,178

$833

833 -637i

$ 8,748

$ 19,048

$ 8,401

$ 5,217

$ 347

$13,831 $833 $ -637i

Recoveries and losses of depositors, 1934-1954. When the deposit 

liabilities of a distressed insured bank are assumed by another insured 

bank with the financial aid of the Corporation, there is no loss to any 

depositor, regardless of the size of his account. When an insured bank 

is placed in receivership, the Federal Deposit Insurance Corporation 

pays each depositor only to the individual limit prescribed in law. Certain 

other deposits are recovered by depositors from receivers by reason of 

their secured or preferred status, and all depositors may make claims 

against receivers for the amounts of their uninsured deposits.

Through insurance and other means, full recovery was available to 

more than 99 percent of the depositors in insured banks placed in receivership, and more than 98 percent of deposits in such cases were 

recovered. For deposit assumption and receivership cases combined, 

deposits were fully available for 99.8 percent of all depositors or accounts, 

and 99.7 percent of the deposits in such banks was made available to 

depositors.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Out of total deposits of $110 million in receivership cases, depositor 

losses amounted to a little less than $2 million. Since there were no depositor losses in deposit assumption cases, this $2 million was also the 

entire loss to depositors on the $560 million of total deposits in all 424 

insured banks requiring disbursements by the Corporation.

Disbursements for protection o f depositors in 1954. Because 

of favorable economic conditions and improved bank supervision and 

management, the Corporation in recent years has been obliged to make 

only minor insurance disbursements. During 1954 disbursements by 

the Federal Deposit Insurance Corporation were necessary for protection of the depositors of two insured banks. On the dates of closing 

these banks held 1,809 deposit accounts totaling $990,283.

In each of the two cases the Corporation provided financial aid to 

facilitate assumption of the known deposit liabilities of the distressed 

bank by another insured bank. The Corporation purchased from the 

failing bank the assets which were not acceptable for transfer to the 

assuming bank, paying for these assets cash equal to the difference 

between the bank’s deposit liabilities and the acceptable assets. This 

made it possible for the assuming bank to take over the deposit liabilities 

of the failing bank, such liabilities being exactly offset by the acceptable 

assets of the distressed bank plus the cash provided by the Corporation. 

Consequently no depositor suffered any loss.

The Bank of Ila, Ila, Georgia, was the first bank requiring a disbursement by the Corporation during 1954 for protection of depositors. This 

transaction was carried out in August. A large amount of loans classified 

by examiners as substandard, doubtful, and loss indicated that the bank 

was insolvent. The second bank requiring a Corporation disbursement 

during the year was the Bank of Whitesville, Whitesville, Kentucky. 

This bank suspended in September upon discovery of a large shortage.

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

Applications from banks. Banks chartered as national banks in 

any State or the District of Columbia, and State banks of deposit which 

are admitted to the Federal Reserve System, become insured without 

application to this Corporation. National banks located outside the 

continental United States which are not members of the Federal Reserve 

System may become insured upon application by the bank and certification by the Comptroller of the Currency. Operating noninsured banks 

which are not members of the Federal Reserve System, and new banks 

which are not to be members of the Federal Reserve System, may apply 

to the Board of Directors of the Corporation for admission to insurance. 

During 1954 the Board of Directors approved 84 applications for admisDigitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
SUPERVISORY ACTIVITIES 7

sion to insurance and disapproved 11 such applications. It also approved 

5 applications for continuance of insurance by banks withdrawing from 

the Federal Reserve System.

The approval of the Federal Deposit Insurance Corporation must be 

obtained before an insured bank may merge or consolidate with, assume 

liabilities of, or transfer its liabilities and equivalent assets to, any 

noninsured bank or institution. These requirements apply to all insured 

banks whether chartered by the Federal government or by the States. 

There are also a number of actions which require approval of the Comptroller of the Currency in the case of national banks, of the Board of 

Governors of the Federal Reserve System in the case of State member 

banks, and of the Federal Deposit Insurance Corporation in the case of 

insured banks not members of the Federal Reserve System. These include 

mergers or consolidations involving a reduction of capital or surplus, 

establishment of branches, change of corporate powers, relocation of 

banking offices, and certain other actions. During 1954 the Board of 

Directors approved 451 such applications submitted by insured banks 

for actions requiring approval of the Corporation and disapproved 10 

such applications.

Prior or joint approval of the respective State banking authority is 

involved in many of the proposals which require action by the Board 

of Directors of the Corporation. For example, a proposed new State 

bank not to be a member of the Federal Reserve System must first 

obtain a charter, or a commitment for a charter, from the State banking 

authority before action is taken on its application for insurance of deposits. 

Likewise, approval of both the State banking authority and the Corporation is required for the establishment of a new branch by an operating 

insured State nonmember bank. Thus there is usually a double screening 

of applications, some proposals being abandoned by their proponents 

for lack of approval by the State. Also, in most cases examinations or 

investigations must be conducted by the Corporation’s field examiners 

to obtain information needed by the Board of Directors in acting upon 

applications. No proponent is denied the right to have his application 

presented to the Board of Directors, but because the policies of the 

Corporation are well known to its field employees preliminary negotiations result in the elimination or revision of many applications. This 

explains why relatively few of the applications ultimately acted upon 

by the Board of Directors are disapproved.

A total of 561 applications for admission to or continuation of insurance 

or for actions which by law require approval of the Corporation were 

acted upon by the Board of Directors during 1954. Of these 540 were 

approved and 21 disapproved. A breakdown of approvals and disapprovals 

according to type of application is given in Table 2. As indicated there,

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

most of the applications acted upon dealt with admission to insurance, 

assumption of deposit liabilities of other banks, establishment of new 

branches, relocation of banking offices, or retirement of capital.

T a b le 2 . A p p l ic a t io n s A cted u p o n b y t h e B o ar d o f D ir e c t o r s o f th h

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 d u r in g 1954

Type of application

Total

acted

upon

Approved Disapproved

All applications.................................................................................... 561 540 21

Admission to insurance— total............................................................. 95 84 11

New banks............................................................................................. 65 56 9

Operating banks................................................................................... SO 28 2

Continuation of insurance of banks withdrawing from F. R.

System............................................................................................... 5 5

Change in corporate powers— total.................................................... 27 26 1

To engage in trust business................................................................ 21 20 1

To engage in commercial banking..................................................... It. 1+

To accept demand deposits................................................................. 1 1

To convert teller's window to branch................................................. 1 1

Assumption of deposit liabilities— total............................................ 54 54

Of another insured bank..................................................................... H UU

Of a noninsured bank......................................................................... 5 5

Of a financial institution not a bank................................................ 5 5

Establishment of branches— total.......................,.............................. 156 153 3

New branch offices................................................................................ 99 96 3

New facilities........................................................................................ 8 8

Replacing head office relocated........................................................... 3 3

Conversion of absorbed bank or financial institution..................... 19 U9

Other branches opened ....................................................................... 2 2

Continuance of operation of branches— total.................................. 26 26

Of absorbed or predecessor bank........................ ............................... 25 25

Upon purchase of branch from another bank.................................. 1 1

Change of location of offices— total................................................... 123 122 1

Main offices........................................................................................... 97 96 1

Branches................................................................................................ 26 26

Retirement of capital— total................................................................ 69 68 1

Held by Reconstruction Finance Corporation................................. 1]+ 1UX

Held by others....................................................................................... 55 5UX 1

Other capital adjustments.................................................................... 1 1

Service as director, officer, or employee of person convicted of

offense involving dishonesty or breach of trust...................... 5 1 4

1 Includes one case in which the amount approved for retirement was less than the amount specified

in the application.

Bank examinations. The banks regularly examined by the Federal 

Deposit Insurance Corporation are the insured State banks, other than 

those in the District of Columbia, not belonging to the Federal Reserve 

System. The banks examined by the Corporation constitute approximately half of the total number of insured banks, though they hold less 

than one-fourth of the total deposits in all insured banks. The Corporation makes at least one regular examination per year of each of these 

banks, if possible, although it places greater importance upon frequent 

re-examinations in cases of special need. State banks which are members 

of the Federal Reserve System are examined by the Federal Reserve

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
SUPERVISORY ACTIVITIES 9

banks, and national banks are examined by the Office of the Comptroller 

of the Currency.

The Washington staff of the Division of Examination of the Corporation reviews examination reports on all insured banks, including 

those prepared by examiners of the Corporation, those prepared by 

examiners of the Federal Reserve banks, and those prepared by examiners 

of the office of the Comptroller of the Currency. Whenever regular 

examinations indicate the presence of special problems or unsound 

conditions, the Corporation’s policy is to re-examine the bank at frequent 

intervals in order to assure that necessary corrections are made. Also, 

as previously noted, examiners representing the Corporation conduct 

examinations and investigations concerning applications made to the 

Board of Directors.

The number of examinations and investigations of various kinds 

conducted by the field offices of the Division of Examination in 1954, 

and the number of examination reports reviewed by its Washington 

staff, are given in Table 3.

T a b le 3 . B a n k E x a m in a t io n A c t iv 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 tio n in 1954

Examination activity Number

Bank examinations— total............................................................................................................. 6,839

6,630

168

41

274

143

131

14,897

5,665

2,131

7,101

Regular examinations of insured banks not members of Federal Reserve System..........

Special examinations........................................................................................................................

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

Investigations— total........................................................................................................................

New bank investigations.................................................................................................................

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

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

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

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

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

Citations for unsafe and unsound banking practices. Bank 

examinations are conducted to assure safe and sound banking practices, 

to appraise bank assets, and to determine whether violations of law or 

regulations have occurred. Except in unusual cases unsafe and unsound 

banking practices discovered by examiners are corrected through the 

normal processes of discussions and conferences between the bank 

examiners and the directors and officers of the banks. Bank examiners 

receive a high degree of cooperation on the part of bank officials, who 

realize that the examiners’ recommendations are offered in the interest 

of the bank. However, when ordinary methods of correction fail, the 

Corporation has an ultimate recourse, the termination of a bank’s 

insurance.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

The procedure used in cases where a bank persists in unsafe and 

unsound banking practices or violations of law or regulations is as follows. 

The Board of Directors of the Corporation submits to the appropriate 

supervisory authority and to the bank a statement describing the practices or violations and setting forth the corrective measures deemed 

to be necessary. The bank is allowed 120 days to make corrections, or 

a shorter period if directed by the supervisory authority. At the end of 

the correction period the bank is re-examined, and if the necessary 

improvements have been made the case is closed. If a correction program 

is being carried out in good faith but for valid reasons is not yet complete, 

the Board of Directors may in its discretion extend the allowable correction period.

If, at the close of the correction period or any allowed extension 

thereof, the necessary improvements have not been made, the Board of 

Directors may give written notice of not less than 30 days of intention 

to terminate the insured status of the bank and fix a time and place for 

a hearing before the Board of Directors or a trial examiner. If an authorized representative of the bank does not appear at the hearing, the 

bank is deemed to have consented to the termination of its insured 

status. If the Board of Directors finds on the evidence presented at the 

hearing that any unsafe or unsound practice or violation specified in 

such notice has been established and has not been corrected within the 

time prescribed in which to make corrections, the Board may terminate 

the bank’s insurance. If this is done the bank is required to give notice 

of the termination of its insurance to its depositors. After termination 

of insurance, no new deposits in the bank are insured, but the insured 

deposits of each depositor on the date of termination, less subsequent 

withdrawals, continue to be insured for two years.

During 1954 the Board of Directors brought charges of unsafe and 

unsound practices against 11 insured banks, the largest number of banks 

so charged in any year since 1942.

The practices and violations cited by the Board are given in Table 4. 

The detailed written citations vary in form from case to case, so that 

a practice specified in one set of charges may be unspecified in another 

although implicit in a broader charge. Most of the banks were specifically 

charged with operation under weak, hazardous, or self-serving management, with inadequate capital, and with lax lending and collection 

policies. Other practices with which one or more of the banks were 

charged are designated in the table.

Of the 11 cases in which the Board of Directors charged banks with 

unsafe and unsound practices during 1954, one case had been closed 

by the end of the year because corrections were completed. There were 

three cases in which the correction period had not expired and five cases

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
SUPERVISORY ACTIVITIES 11

in which, although the correction period had expired, action by the 

Board of Directors was deferred pending evaluation of the correction 

program. There were two cases among those instituted during 1954 in 

which failure to make required corrections had resulted in the fixing of 

time and place of hearings at which representatives of the banks were 

to be given opportunity to show cause why their deposit insurance 

should not be terminated. The time of those hearings had not arrived 

at the end of the year.

T a b le 4 . U n s a f e o r U n s o u n d B a n k in g P r a c t ic e s a n d V io l a t io n s o f

L a w C h a r g e d a g a in s t E l e v e n B a n k s b y t h e C o r p o r a tio n d u r in g 1954

Type of practice or violation

Number

of banks

charged

Case identification letters

Capital:

Inadequate capital......................................................

Impaired common capital.........................................

Inadequate common capital stock..........................

Outstanding debentures past due and unpaid. .. .

Dissipation of capital by losses and/or unwarranted dividends...............................................

Management and general practices:

Weak or hazardous management............................

Self-serving management..........................................

Management of bank by person convicted of

offense involving dishonesty and breach of

trust.......................................................................

Honoring checks against uncollected funds___

Abnormal, excessive, and improper expense

items...........................................................................

Maintenance of false and misleading records

and accounts..........................................................

Publication of false report of condition...............

Failure to comply with corrective recommendations of supervisory authority and/or examiners

of the Corporation..................................................

Loans:

Lax lending policies....................................................

Loans to borrowers outside the bank’s normal

trade area.............................................................

Excessive volume of loans....................................

Excessive individual loans....................................

Unwarranted and excessive loans to officers and

directors.....................................................................

Loans to financially involved borrowers...............

Loans involving undue risks.....................................

Extension of credit on cash items...........................

Loans to borrowers on whom bank has experienced losses or adverse classifications.........

Inadequate credit information.................................

Adding of insurance premiums to loan balances. .

Excessive “loss/* “doubtful,” or “substandard”

assets, or assets scheduled by examiners for

“special mention” ...................................................

Permitting sale of collateral without repayment

of loan or notation in credit records..................

Lax collection policies or excessive overdue loans.

Violations of law:

Extensions of credit in excess of statutory

limitations..................................... .......................... ,

Service as directors by persons not qualified by

law..........................................................................

Violations of specified State laws........................

Permitting unspecified violations........................

a b

b

b

a b

d e

c d

abed 

a b c

b c d e

b c d e

d e

d

d

d

d

d e

a b c d e

a b c d e

h i

h

h i

h i

j k

j

j

j k

h i 3 k

h i

h i

h i

h i

h i

h i j

h i j

h i j k

j

h i j k

There were also five cases of banks charged with unsafe and unsound 

practices prior to 1954 which remained in active status at the beginning

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

of the year. Three of these were resolved during 1954 when necessary 

corrections were made, and at the end of the year two cases were held 

in deferred status for further evaluation.

T a b le 5 . N u m b e r o f B a n k s C h a r g e d w it h U n s a f e o r U n s o u n d B a n k in g

P r a c t ic e s a n d 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 in E a c h Y e a r , 1936-1954

Year Number Year Number Year Number

T otal............ 163 1949............. 1 1942............. 13

1948............. 3* 1941............. 13i

1954............... 11 1947............. 6 1940............. 18i

1953............... 5 1946............. 1 1939............. 19

1952............... 2 1945............. 1 1938............. 13

1951............... 1944............. 1 1937............. 23i

1950............... 3 1943............. 6 1936............. 24

1 Excludes cases of new citations made against banks to replace earlier citations pending against

same banks at start of year: 2 in 1937, 1 each in 1940, 1941, and 1948.

The number of banks charged with unsafe and unsound practices or 

violations of law or regulations in each year since the Corporation was 

given authority to terminate the insurance of banks for such offenses 

is shown in Table 5. The outcome of these cases is presented in Table 6.

T a b le 6 . A c tio n s to T e r m in a t e I n s u r e d S t a t u s o f B a n k s C h a r g e d

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

o f L a w or R e g u l a t io n s , 1936-1954

Disposition or status 1936-1954J

Pending

beginning

of 1954

Started

during

1954

Total banks against which action was taken......................... 163 5 11

Cases closed........................................................................................... 151 3 1

Corrections made................................................................................ 42 3 1

Banks absorbed or succeeded by other banks............................. 67

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

Without financial aid of the Corporation.................................... 5

Banks suspended prior to setting date of termination of

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

Insured status terminated, or date for such termination set

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

Banks suspended prior to or on date of termination of insured

status.............................................................................................

10

7

Banks continued in operation2...................................................... 3

Cases not closed December 31, 1954............................................ 12 2 10

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

Action deferred pending results of correction program, reexamination, or analysis of report of re-examination.. . .

Date set for hearing...........................................................................

7

2

2 5

2

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 Btatus was terminated.

Back data: See the Annual Report of the Corporation for 1953, p. 13, and earlier reports.

Reports from banks. All insured banks were required to submit 

statements of their assets and liabilities as of June 30 and December 31, 

1954, and statements of their earnings, expenses, and dividends for the 

calendar year 1954. Insured State banks which are not in the Federal

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
SUPERVISORY ACTIVITIES 13

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

these reports to the Federal Deposit Insurance Corporation. State banks 

belonging to the Federal Reserve System submitted the reports to that 

agency, while national banks and all banks in the District of Columbia 

submitted the reports to the Comptroller of the Currency. Each Federal 

bank supervisory agency tabulates and summarizes the data reported 

to it and makes the results available to the other agencies, thus avoiding 

duplication of reporting or processing.

By inter-agency agreement, the Federal Deposit Insurance Corporation gathers and prepares statistics of assets and liabilities of noninsured banks, and provides the only complete statistical series for assets 

and liabilities of all operating banks. Reports of assets and liabilities of 

noninsured banks and trust companies as of June 30 and December 31, 

1954, were obtained by the Corporation through the assistance of State 

banking authorities and of officials of unincorporated banks or other 

banking institutions not under State or Federal supervision. No data 

concerning earnings, expenses, and dividends of noninsured banks are 

requested by the Corporation.

The data on assets, liabilities, earnings, and expenses of banks are 

discussed in Part Two of this report, and shown in the statistical tables 

of Part Five. In addition detailed tabulations of the reports of assets 

and liabilities of all banks in the nation and of insured banks in each 

State are given in separate semiannual publications of the Corporation.

L e g a l D e v e l o p m e n t s

Federal legislation. No legislation directly affecting deposit insurance 

or insured banks in general was enacted during the second session of 

the 83rd Congress.

Rules and regulations of the Corporation. The rules and regulations of the Corporation were amended and the amendments were 

published in the Federal Register of March 27, 1954 (19 F.R. 1663-1667), 

with effective date of March 30, 1954. The major changes made were in 

the insurance assessment regulations governing payments by insured 

banks and were designed to clarify requirements and further simplify 

assessment calculations. They are given in Part Four of this report.

Organization. The Description of Organization of the Corporation 

was amended and published in the Federal Register of March 27, 1954 

(19 F.R. 1681-1683). It is given in Part Four of this report.

State legislation. A summary of State banking legislation enacted 

in 1954 is given in Part Four of this report.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

O r g a n iz a t io n a n d P e r s o n n e l

Directors and employees. Throughout the year 1954 Mr. H. E. Cook 

continued as Chairman of the Board of Directors of the Corporation. 

Mr. Ray M. Gidney, Comptroller of the Currency, and Mr. Maple T. 

Harl, were members of the Board of Directors. Names of other Corporation officials are given on page v, and an organization chart of the 

Corporation on page iv. Names of the Corporation’s supervising examiners and locations of the district offices are given on pages vi and vii.

On December 31, 1954, the Corporation had a total of 1,087 employees. 

This represented an increase of 59 for the year., due primarily to additional examination personnel necessitated by an increased workload. 

Almost three-fourths of the Corporation’s employees are members of 

the Division of Examination. The majority of these are bank examiners 

in the field. A classification of the Corporation’s employees according 

to Division and location is given in Table 7.

Table 7. N u m b e r o f O f f ic e r s a n d E m p l o y e 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 , D e c e m b e r 31, 1954

Division Total Washington

office

District

and other

field offices

1,087

3

324 763

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

Executive offices........................................................................... 16 16

Legal Division............................................................................... 23 23

Division of Examination............................................................. 792 52 740

Division of Liquidation..............................................................

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

41

44

18

44

23

Audit Division.............................................................................. 44 44

Office of the Controller............................................................... 124 124

From an average employment of 558 field bank examiners, there were 

64 such employees who left the service of the Corporation during 1954, 

giving a turnover ratio of 11.5 per 100. This is the lowest rate of turnover 

since 1949, when it was 10.7 per 100. Slightly more than half of the 

field examiners who left the Corporation in 1954 did so to accept positions 

with banks or State banking departments. By comparison, the 1954 

turnover rate for the rest of the Corporation was 15.4 per 100, the lowest 

such rate since 1950.

Employee benefits and programs. Approximately 99 percent of 

the Corporation’s eligible employees are now participating in the hospitalization, surgical, and in-hospital medical benefits program established 

for Corporation employees. Ninety-seven percent have availed themselves of the group life insurance benefits provided under the Federal 

Employees’ Group Life Insurance Act of 1954. Recently published

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ORGANIZATION AND PERSONNEL 15

statistics by the Bureau of Employees Compensation of the United 

States Department of Labor indicate that the safety record of Corporation personnel continued to be excellent.

To reduce the frequency of charity appeals, employees of the Washington office of the Corporation adopted by popular vote a voluntary “ one 

package” plan for charitable contributions. Under the plan an employee 

may make an entire year’s contribution to all fund drives by a single 

gift or commitment. He may pay his pledge in one or more cash payments or by payroll deductions spread over the year. More than 95 

percent of the employees participate. This plan has proven adequate to 

match amounts previously contributed to the various charities.

Educational program for examiners. At the close of 1954 about 

two-thirds of the Corporation’s bank examiners were enrolled in educational courses or in banking schools as a part of the educational program 

of the Division of Examination. This program consists primarily of 

correspondence courses given by the American Institute of Banking, 

but also includes evening courses offered by local chapters of the Institute, colleges, or universities, plus special graduate courses at several 

universities. Costs of courses taken with the American Institute of 

Banking and of the special graduate courses are paid by the Corporation.

The special graduate programs 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 beginning in 1954, The School of Banking of the South at Louisiana 

State University sponsored by State banking associations of nine southern 

States. Each of the graduate programs requires for completion three 

summer resident sessions, each of two weeks' duration, and two years 

of intensive nonresident study.

T a b le 8. R e s u l t s o f t h e C o r p o r a t io n ’s E d u c a t io n a l P r o g r a m

fo r E x a m in e r s , 1946-1954

Activity 1946-1954 1954

Educational courses completed............................................................................ 1,656 200

American Institute of Banking Certificates received— total................... 176 17

Pre-Standard................................................................................... ........................... 112 14

Standard................................................................................................................... 53 2

Graduate...................................................................................................................... 11 1

Graduate banking school diplomas received................................................. 91 24

Examiners participating at end of year— total............................................. 379

In American Institute of Banking correspondence courses............................. 320

In other correspondent courses.............................................................................. 7

In resident courses..................................................................................................... 14

In graduate banking school courses...................................................................... 38

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

The numerical results of the educational program since it was begun 

in 1946, and statistics of enrollment and completions for 1954, are presented in Table 8. The Corporation is convinced that the time and expense devoted to the educational program have been and will continue 

to be well repaid in the form of more effective examiner personnel.

F in a n c ia l S t a t e m e n t s o f t h e C o r p o r a t io n

Assets and liabilities. The Corporation’s statement of assets and 

liabilities as of December 31, 1954, is given in Table 9. On that date 

the Corporation had assets with a book value of $1,633 million, of which 

$1,629 million, or 99.8 percent, were United States Government securities 

and accrued interest on such securities. The remaining assets consisted 

principally of cash and of assets acquired in connection with deposit 

assumption transactions.

Prior to 1954, the Corporation’s accounts pertaining to certain loans 

to insured banks and equities in assets purchased from insured banks 

had been closed by transfer of the residual unliquidated assets to an 

account representing assets purchased outright by the Corporation. 

In May 1954, such assets were restored to their respective accounts. 

Transactions relating to such residual assets which occurred during the 

intervening time have been reclassified to conform with procedures 

used to account for assets acquired through loans and equity purchases. 

Adjustments have also been made to re-establish necessary reserves for 

losses on the restored loans and equity purchases. The entire amount reported in Table 9 as “ Loans to insured banks” represents assets which 

were restored to loan accounts in May 1954. Of the amount reported as 

“ Equity in assets purchased from merged insured banks,” $4,753,646 

represents assets restored to that account in May 1954, which were not 

liquidated prior to December 31, 1954. The reserve for losses on assets 

acquired through deposit assumption transactions in the amount of 

$9,047,047 includes $6,506,069 reserve for losses on loans and equity 

purchases re-established in May 1954.

The liabilities of the Corporation at the end of 1954 amounted to 

$90 million, of which $88.5 million represented funds credited to insured 

banks. Since the Federal Deposit Insurance Act of 1950, each year-end 

statement of assets and liabilities of the Corporation has contained 

provision for similar liabilities to insured banks. They represent principally net assessment income credits to become available on the succeeding 

July 1 for use by insured banks in paying assessments to the Corporation, 

as described more fully on pages 20 to 22.

Capital stock of the Corporation, originally $289.3 million subscribed 

by the Secretary of the Treasury and the Federal Reserve banks, was

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCIAL STATEMENTS OF THE CORPORATION 17

retired in 1947 and 1948, and interest thereon of $80.6 million was 

subsequently paid to the United States Treasury.

T a b le 9 . 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, 1954

ASSETS

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

U. S. Government securities at cost (market or redemption

value, $1,624,264,844):

Special U. S. Treasury notes.........................................................

U. S. Treasury bonds......................................................................

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

Assets acquired in deposit assumption and receivership transactions:1

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

Equity in assets purchased from merged insured banks........

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

Less— Reserve for losses.................................................................

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

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

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

LIABILITIES*

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

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

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

Due insured banks:

Net assessment income credits available July 1, 1955............

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

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

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

DEPOSIT INSURANCE FUND

Fund (see Table 11)*..........................................................................

Total liabilities and fund.....................................

$ 859,700,000

764,482,644

$1,624,182,644

4,714,396

$ 2,235,768

7,899,902

16,370

$ 10,152,040

9,047,047

81,772,723

6,770,027

2,614,347

1,628,897,040

1,104,993

164,887

1

$1,632,781,268

$ 449,315

139,399

934,430

88,542,750

17,992

$ 90,083,886

1,542,697,382

$1,632,781,268

1 Loans to insured banks and equity in assets purchased from merged insured banks, previously

closed on the books by transfer of residual assets to assets purchased outright, were restored to their

respective accounts in May 1954. Transactions subsequent to such transfers have been reclassified and

appropriate adjustments have been made to the reserve for losses.

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

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

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

from Its inception to December 31, 1954. For the protection of depositors, in addition to this fund,

the Corporation is authorized to borrow up to three billion dollars from the U. S. Treasury when in the

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

The deposit insurance fund and insured deposits. The excess 

of the Corporation’s assets over its liabilities at the end of 1954 was 

$1,543 million, which constituted the deposit insurance fund on that 

date. Since retirement of its capital stock the Corporation has operated 

solely with its own capital as represented by the deposit insurance fund. 

This fund may be regarded as accumulated assessments and investment 

income in excess of operating expenses and insurance losses over past 

years. It is the value of the Corporation’s own resources available for 

use in fulfilling the deposit insurance obligation.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Since 1950 the deposit insurance fund has increased in approximate 

proportion to the growth in deposits of insured banks. Consequently, 

there have been only slight changes over recent years in the ratios of 

the deposit insurance fund to total deposits in insured banks and to 

total insured deposits. These ratios since 1934 are illustrated in Chart A. 

The data upon which this chart is based, and the percentage of total 

deposits which was estimated to be insured on each date, are given in 

Table 10.

C h a r t A . R a t io s o f D e p o s it I n s u r a n c e F u n d to T o t a l a n d I n s u r e d D e p o s it s,

A l l I n s u r e d B a n k s , M id - Y e a r a n d Y e a r E n d , 1934— 1954

Borrowing power of the Corporation. Under the provisions of 

the Federal Deposit Insurance Act the Corporation is authorized to 

borrow from the Federal Treasury, and the Secretary of the Treasury 

is directed to lend, up to $3 billion if needed by the Corporation for 

insurance purposes. This borrowing power has never been used, but it 

provides additional assurance that the deposit insurance commitment 

will be fulfilled.

Income, expenses, and growth in the deposit insurance fund 

in 1954. The deposit insurance fund increased $92 million during 1954. 

This amount was derived from net income of $91.5 million for the year 

and adjustments of $0.5 million applicable to prior years. The total

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCIAL STATEMENTS OF THE CORPORATION 19

income of the Corporation during 1954 was $181 million, of which deposit 

insurance assessments comprised about four-fifths and income from 

United States Government securities one-fifth. Out of the total income, 

$8 million was used for administrative and operating expenses and 

provisions for insurance losses, and a little less than $82 million was set 

aside for the required net assessment income credits to insured banks, 

leaving net income of over $91 million.

Table 10. 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 , 1934-1954

Date

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

1954 Dec. 31.............................. $203,195 $112,431 55.3% $1,542.7 .76% 1.37%

June 30.............................. 191,652 106,215 55.4 1,496.7 .78 1.41

1953 Dec. 31.............................. 193,466 106,509 55.1 1,450.7 .75 1.36

June 30.............................. 181,740 101,388 55.8 1,406.6 .77 1.39

1952 Dec. 31.............................. 188,142 102,255 54.3 1,363.5 .72 1.33

June 30.............................. 176,703 96,414 54.6 1,322.5 .75 1.37

1951 Dec. 31.............................. 178,540 96,713 54.2 1,282.2 .72 1.33

June 30.............................. 164,608 89,753 54.5 1,243.8 .76 1.39

1950 Dec. 31.............................. 167,818 91,359 54.4 1,243.9 .74 1.36

June 30.............................. 156,120 76,891 49.3 1,277.1 .82 1.66

1949 Dec. 30.............................. 156,786 76,589 48.8 1,203.9 .77 1.57

June 30.............................. 148,657 74,212 49.9 1,134.2 .76 1.53

1948 Dec. 31.............................. 153,454 75,320 49.1 1,065.9 .69 1.42

June 30.............................. 148,562 73,705 49.6 1,007.4 .68 1.37

1947 Dec. 31.............................. 154,096 76,254 49.5 1,006.1 .65 1.32

June 30.............................. 145,597 74,097 50.9 1,133.7 .78 1.53

1946 Dec. 31.............................. 148,458 73,759 49.7 1,058.5 .71 1.44

June 30.............................. 151,628 70,486 46.5 992.7 .65 1.41

1945 Dec. 31.............................. 158,174 67,021 42.4 929.2 .59 1.39

June 30.............................. 143,953 60,373 41.9 868.5 .60 1.44

1944 Dec. 31.............................. 134,662 56,398 41.9 804.3 .60 1.43

June 30.............................. 122,415 50,542 41.3 752.3 .61 1.49

1943 Dec. 31.............................. 111,650 48,440 43.4 703.1 .63 1.45

June 30.............................. 97,321 38,437 39.5 658.8 .68 1.71

1942 Dec. 31.............................. 89,869 32,837 36.5 616.9 .69 1.88

June 30.............................. 73,027 28,873 39.5 583.9 .80 2.02

1941 Dec. 31.............................. 71,209 28,249 39.7 553.5 .78 1.96

June 30.............................. 67,419 27,398 40.6 523.4 .78 1.91

1940 Dec. 31.............................. 65,288 26,638 40.8 496.0 .76 1.86

June 30.............................. 59,853 24,708 41.3 469.6 .78 1.90

1939 Dec. 31.............................. 57,485 24,650 42.9 452.7 .79 1.84

June 30.............................. 53,573 24,237 45.2 424.5 .79 1.75

1938 Dec. 31.............................. 50,791 23,121 45.5 420.5 .83 1.82

June 30.............................. 48,469 22,540 46.5 402.0 .83 1.78

1937 Dec. 31.............................. 48,228 22,557 46.8 383.1 .79 1.70

June 30.............................. 48,832 22,544 46.2 364.1 .75 1.62

1936 Dec. 31.............................. 50,281 22,330 44.4 343.4 .68 1.54

June 30.............................. 47,637 21,139 44.4 323.8 .68 1.53

1935 Dec. 31.............................. 45,125 20,158 44.7 306.0 .68 1.52

June 30.............................. 41,378 18,954 45.8 335.0 .81 1.77

1934 Dec. 31.............................. 40,060 18,075 45.1 291.7 .73 1.61

June 30.............................. 36,873 16,831 45.6 319.0 .87 1.90

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.

A statement of the Corporation’s income and expenses and of the 

change in the deposit insurance fund during 1954 is given in Table 11.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 11. 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 tio n a n d C h a n g e in t h e D e p o s it I n s u r a n c e F u n d

fo r th e Y e a r E n d e d D e c e m b e r 31, 1954

INCOME AND EXPENSES

Net income for the year ended December 31, 1954:

Income:

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

Interest on U. S. Government securities................................

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

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

Expenses and losses:

Administrative and operating expenses (see Table 12)___

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

Other insurance losses.................................................................

Total expenses and losses..........................................

Net income before deduction of net assessment income

credit to insured banks...........................................................

Net assessment income credit to insured banks (see Table

13)...............................................................................................

Net income (addition to the deposit insurance fund)

for the year ended December 31, 1954.........................

DEPOSIT INSURANCE FUND

Deposit insurance fund, December 31, 1953.........................

Adjustments applicable to periods prior to January 1, 1954:

Increasing the fund:

By reduction of reserve for insurance losses (net):

Established prior to 1950.......................................................

Established since 1949............................................................

By additional assessments (net)...............................................

Decreasing the fund:

Adjustment of income and expenses applicable to assets

purchased outright..................................................................

Adjustment of interest and allowable return........................

Net adjustments (increasing the fund)..................

Balance December 31, 1953, as adjusted.................................

Addition to the fund, net income for 1954 (as above)................

Deposit insurance fund, December 31, 19541.......................

1 See note 3 of Table 9.

$144,056,518

37,323,214

34,850

$ 7,766,468

430,000

2,066

$ 236,373

396,182

$ 632,555

274,714

$ 907,269

$ 314,556

42,646

$ 357,202

$ 181,414,582

8,198,534

$ 173,216,048

81,752,500

$ 91,463,548

$1,450,683,767

550,067

$1,451,233,834

91,463,548

$1,542,697,382

In Chart B the sources and disposition of the Corporation’s income 

for the year after net assessment income credits to insured banks are 

illustrated, and compared with those for 1949, the last year in which the 

Corporation retained all of its assessment income. Administrative and 

operating expenses of the Corporation during 1954 are classified in 

Table 12.

Net assessment income credits to insured banks. The Federal 

Deposit Insurance Act of 1950 provides that 40 percent of the Corporation’s “net assessment income” for each year shall be transferred to its 

capital account and the remaining 60 percent credited to insured banks 

in proportion to their assessments which became due during the year.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCIAL STATEMENTS OF THE CORPORATION 21

Net assessment income is defined in the Act as the amount remaining 

of total assessments becoming due during the year after deduction of 

operating expenses and provision for insurance losses.

Chart B. S o u r c e s a n d D is p o s it io n o f 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 tio n fo r t h e C a l e n d a r Y e a r s 1949 a n d 1954

1949: prior to Act of 1950 providing for net assessment income credits to insured banks

1954: after net assessment income credits to insured banks

Table 12. A d m in is t r a t iv e a n d O p e r a t in g E x p e n s e s of t h e F e d e r a l D e p o s it

I n s u r a n c e C o r p o r a tio n fo r t h e Y e a r E n d e d D e c e m b e r 31, 1954

Personal services.......................................................................................................................

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

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

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

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

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

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

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

Other contractual services......................................................................................................

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

Less:

Processing costs of Duplicating Section charged to other divisions and activities

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

Total credits...................................................................................................

Net administrative and operating expenses..............................................................

$5,456,373

1,422,569

22,027

70,738

398,543

82,508

46,408

104,676

183,491

$7,787,333

$ 16,015

4,850

$ 20,865

$7,766,468

The determination and distribution of net assessment income for 1954 

is shown in Table 13. The 1954 net assessment income credits will become 

available to insured banks on July 1, 1955, for use in paying deposit 

insurance assessments. The credit received by each insured bank was 

equal to 56.76 percent of its 1954 assessment. This is approximately 

the same percentage as in each year since 1950, and indicates that the

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

cost of deposit insurance to the banks, relative to their deposits, is now 

less than half of what it was before the 1950 Act.

Table 13. 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 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 fo r 1954, a n d

D is t r ib u t io n as of D e c e m b e r 31, 1954

Determination of net assessment income for 1954:

Total assessments which became due during the calendar

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

Less:

Operating costs and expenses for the calendar year...........

Net additions to reserves to provide for insurance losses:

Provided in 1954......................................................................

Adjustments to provisions made prior to 1954 (reduction) ..................................................................................

Insurance losses in excess of reserves......................................

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

Net assessment income for 1954...................................................

Distribution of net assessment income, December 31,

1954:

Net assessment income for 1954:

40 percent transferred to deposit insurance fund.................

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

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

Allocation of net assessment income credit among

insured banks, December 31, 1954:

Credit for 1954..................................................................................

Adjustment of credits for 1950 to 1953, inclusive...................

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

$ 430,000

396,182

$144,056,518

$ 7,766,468

33,818

2,066

$ 81,752,500

20,223

$ 7,802,352

$136,254,166

$ 54,501,666

81,752,500

$136,254,166

Percent of total

assessments becoming due in 1954

56.75%

.01

$ 81,772,723 56.76%

Historical financial data. The assets and liabilities of the Corporation at the end of each year of its operation are summarized in Table 14.

The total assets and the deposit insurance fund have increased each 

year of the Corporation’s existence except in 1947, when more than 

two-thirds of the capital stock of the Corporation was retired by repayment to the United States Treasury. Assets acquired in protecting 

depositors and facilitating termination of liquidations were carried at 

a net value of SI million at the end of 1954. In recent years such assets 

have been much less than in the earlier period of the Corporation’s 

operation. This reflects the smaller number of insured banks placed 

in receivership or requiring financial aid of the Corporation to make 

possible the assumption of their deposits by sound insured institutions.

Since 1949 the Corporation’s statements have shown much larger 

year-end liabilities than previously. The increase is attributable almost 

entirely to net assessment income credits to insured banks, the amounts 

of which are determined and credited as of the end of each year but are 

not available for use by the banks until the middle of the following year.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCIAL STATEMENTS OF THE CORPORATION 23

T a b le 1 4. 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, 1934-1954

(In millions)

Dec. 31 Cash

u. s.

Government

securities

Insurance

assets1

Other

assets

Total

assets Liabilities

Deposit

insurance

fund2

1954......... $ 2.6 $1,628.9 $ 1.1 $ .2 $1,632.8 $90.1 $1,542.7

1953........ 4.0 1,530.5 2.1 .1 1,536.7 86.0 1,450.7

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.

Income and expenses of the Corporation since commencement of 

operations are summarized, by years, in Table 15. The data shown are 

adjusted to the end of 1954. Thus the interest paid to the United States 

Treasury by the Corporation on its capital stock, although not in fact 

paid until 1950 and 1951, is shown allocated among the years against 

which it was computed. Since retirement of the capital stock no such 

interest has been included in Corporation expenses.

Income from deposit insurance assessments beginning with 1950 is 

shown in the table after deduction of the net assessment income credits. 

The table thus reflects the effect of the assessment credits on the Corporation’s income, and also upon the rate of growth of the deposit insurance 

fund. Deposit insurance assessments before giving effect to the credits 

have increased annually since 1950, consistent with increases in deposit 

liabilities of insured banks, but the provision for assessment credits has 

resulted in a marked reduction in annual net income added to the deposit 

insurance fund as compared with the years prior to 1950.

Audit. As required by the Federal Deposit Insurance Act, the Comptroller General of the United States makes an annual audit of the Corporation. The short form of the audit report for the year ended June 30, 

1954, as furnished to the Corporation by the Comptroller General, is 

given in Table 16.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 15. 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, 1954,

A d ju sted to D e c e m b e r 31, 1954

(In millions)

Year

Income Expenses

p Net

income

added to

deposit

insurance

fund

Total

Deposit

insurance

assessments

Investments

and

other

sources

Total

Deposit

insurance

losses

and

expenses1

Interest

on

capital

stock

Administrative

and

operating

expenses

1933-1954.. $1,750.3 $1,314.5 $435.8 $207.6 $28.0 $80.6 $99.0 $1,542.7

1954 99.7 62.3* 37.4 8.2 .4 7.8 91.5

1953 94.0 60.02 34.0 7.3 .1 7.2 86.7

1952 88.4 57.12 31.3 7.8 .8 7.0 80.6

1951 83.6 54.12 29.5 7.0 .1 6.9 76.6

1950 84.8 54.22 30.6 7.8 1.4 6.4 77.0

1949 150.9 122.5 28.4 6.4 .3 6.1 144.5

1948 , 146.9 119.3 27.6 7.3 .7 .6 6.0 139.6

1947 157.7 114.4 43.3 10.4 .1 4.8 5.5 147.3

1946 .. 130.9 107.0 23.9 10.4 .1 5.8 4.5 120.5

1945........ 121.2 93.7 27.5 9.7 .1 5.8 3.8 111.5

1944........ 99.5 80.9 18.6 9.7 .1 5.8 3.8 89.8

1943 . , 86.7 70.0 16.7 10.2 .2 5.8 4.2 76.5

1942 , . 69.4 56.5 12.9 10.3 .5 5.8 4.0 59.1

1941 , 62.0 51.4 10.6 10.1 .6 5.8 3.7 51.9

1940........ 55.9 46.2 9.7 12.9 3.5 5.8 3.6 43.0

1939 51.2 40.7 10.5 16.4 7.2 5.8 3.4 34.8

1938........ 47.7 38.3 9.4 11.3 2.5 5.8 3.0 36.4

1937 48.2 38.8 9.4 12.2 3.7 5.8 2.7 36.0

1936 , 43.8 35.6 8.2 10.9 2.6 5.8 2.5 32.9

1935........ 20.8 11.5 9.3 11.3 2.8 5.8 2.7 9.5

1933-34.. 7.0 (3) 7.0 10.0 .2 5.6 4.2< -3.0*

1 Includes nonrecoverable expenses incurred pursuant to the insurance of deposits in closed insured

banks.

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

provisions of the Federal Deposit Insurance Act.

* 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 assessment becoming due under the permanent insurance fund, resulting in no income

to the Corporation from assessments during the existence of the temporary insurance funds.

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

temporary insurance funds on June 30, 1934.

6 Deduction.

Table 16. A u d it R e p o r t of t h e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a tio n fo r t h e Y e a r E n d e d J u n e 30, 1954

C o m p tr o lle 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 15, 1954

Board of Directors

Federal Deposit Insurance Corporation

Gentlemen:

The Division of Audits, General Accounting Office, has made an audit of 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 , an independent Government agency, for the fiscal

year ended June 30, 1954, in accordance with section 17(b) of the Federal Deposit

Insurance Act (12 U.S.C. 1827).

This audit included an examination of the balance sheet of Federal Deposit Insurance

Corporation as of June 30, 1954, and the related statement of income and deposit

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
FINANCIAL STATEMENTS OF THE CORPORATION 25

Table 16. A u d it R e p o r t of t h e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a tio n fo r t h e Y e a r E n d e d J u n e 30, 1954— Continued

insurance fund for the year then ended. The examination was made in accordance

with generally accepted auditing standards and included such tests of the accounting

records and such other auditing procedures as were considered necessary in the circumstances and appropriate in view of the effectiveness of the system of internal

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

In the opinion of the General Accounting Office, the accompanying balance sheet

(exhibit 1) and statement of income and deposit insurance fund (exhibit 2) present

fairly the financial position of Federal Deposit Insurance Corporation at June 30,

1954, and the results of its operations for the year then ended, in conformity with

generally accepted accounting principles applied on a basis consistent with that of

the preceding year and with applicable Federal laws.

Sincerely yours,

F r a n k H . W e it z e l

Acting Comptroller General of the United States

Exhibit 1— B a l a n c e S h e e t— J u n e 30, 1954

ASSETS

Gash..........................................................................................

U. S. Government obligations:

Securities, at cost (market or redemption value,

$1,613,407,546).............................................................................

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

Assets acquired through bank suspensions and

absorptions:

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

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

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

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

Accounts receivable, deferred charges, and sundry assets.

Furniture, fixtures, and equipment, less accumulated

depreciation of $519,680.............................................................

LIABILITIES AND DEPOSIT INSURANCE FUND

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 1):

Available July 1, 1954....................................................................

Estimated amount available July 1, 1955, from net assessment income for 6 months ended June 30, 1954.............

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

Deposit insurance fund, representing accumulated income

from inception to June 30, 1954, available for future

deposit insurance losses and related expenses (note 2

and exhibit 2)................................................................................

$1,608,773,018

4,841,050

2,723,356

7,949,262

15,944

10,688,562

9,186,026

78,752,547

40,939,933

2,918,598

1,613,614,068

1,502,536

370,088

1

$1,618,405,291

586,808

397,219

982,941

53,836

119,692,480

121,713,284

1,496,692,007

$1,618,405,291

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

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 16. A u d it R e p o r t 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 fo r t h e Y e a r E n d e d J u n e 30, 1954— Continued

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 th e Y e a r E n d e d J u n e 30, 1954

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

$ 5,236,719

1,332,608

909,176

$ 141,573,901

35,599,949

609,141

57,479

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

Gain on sale of U. S. Government securities................................

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

Deduct administrative and operating expenses:

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

177,840,470

7,478,503

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

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

Deduct net assessment income credits due insured banks

(note 1):

Six months ended December 31, 1953........................................

Six months ended June 30, 1954, estimated..............................

Net income for year transferred to deposit insurance fund....

Deposit insurance fund, June 30, 1953...........................................

Net adjustment of prior years’ estimate of losses on absorption

cases restored to deposit insurance fund................................

Deposit insurance fund, June 30, 1954 (note 2 and exhibit 1). .

39,817,349

40,939,933

170,361,967

80,757,282

89,604,685

1,406,628,340

458,982

$1,496,692,007

The notes below are an integral part of this statement.

N o tes to t h e F in a n c ia l St a t e m e n t s— J u n e 30, 1954

1. Section 7(d) of the Federal Deposit Insurance Act (12 U.S.C. 1817(d) ) provides that as of

December 31, 1950, and as of December 31 of each year thereafter, the Corporation shall credit pro

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

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

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

period.

At June 30,1954, the net amount due the banks for credits computed on the net assessment income

of calendar year 1953, as adjusted, was $78,752,547. The actual amount of credit due the banks from

calendar year 1954 net assessment income is not determinable until December 31, 1954. For statement

purposes, however, an estimated credit for the first 6 months of 1954 has been computed to be

$40,939,933.

2. At June 30, 1954, the deposit insurance fund was equivalent to 1.41 percent of the insured

deposits in all banks, estimated by the Corporation at 106.2 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 data compiled by the Corporation, the fund

appears to be adequate to cover any potential losses at June 30, 1954.

The Corporation may borrow from the United States Treasury, with interest, such funds as in the

judgment of the board of directors of the Corporation are required from time to time for insurance

P

urposes, not exceeding, in the aggregate, three billion dollars outstanding at any time. The Corporation

as never used this borrowing power.

3. Under existing law, the Corporation is not required to bear the Government's share of the cost

of providing retirement, disability, and compensation benefits for the employees of the Corporation.

These costs are estimated to be approximately $310,000 for the fiscal year 1954.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART TWO

BANKING DEVELOPMENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
N u m b e r of B a n k s a n d T h e ir I n s u r a n c e St a t u s

Number of operating banks and branches. At the end of 1954 

the people of the United States were served by 21,160 banking offices. 

These consisted of 14,409 banks and 6,751 branches of banks. During 

the year there was a 1 percent decrease in the number of banks, while 

the number of branches increased by 8 percent. The combined effect 

was a 2 percent increase in the total number of banking offices.

The growth in branch banking was a continuation, moderately accelerated, of a movement underway for many years. In recent years 

about one in four of the additional branches represents an absorbed bank 

converted into a branch, but the majority of the additional branches 

are newly established banking offices. The changes in numbers of banks 

and branches by years from 1946 to 1954 are given in Table 17. The 

term “ branch” is used here in accordance with the Federal Deposit 

Insurance Act as any “branch bank, branch office, branch agency, 

additional office, or any branch place of business . . . at which deposits 

are received or checks paid or money lent.” Accordingly it includes 

“facilities” established in or near military installations at the request 

of the Treasury or the Commanding Officer of the installation.

Table 17. N u m b e r a n d C h a n g e s in O p e r a t in g B a n k in g O ff ic e 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), 1946-1954

Year

Number at end of year Change

during year in number of—

Percentage change

during year in number of—

Banking

offices Banks Branches1 Banking

offices Banks Branches1 Banking

offices Banks Branches1

1954 21,160 14,409 6,751 381 -143 524 1.8% -1.0% 8.4%

1953 20,779 14,552 6,227 329 -65 394 1.6 -.4 6.8

1952 20,450 14,617 5,833 295 -44 339 1.5 -.3 6.2

1951 20,155

19,851

14,661 5,494 304 -32 336 1.5 -.2 6.5

1950 14,693 5,158 251 -43 294 1.3 -.3 6.0

1949 19,600 14,736 4,864 234 -17 251 1.2 -.1 5.4

1948 19,366 14,753 4,613 191 -14 205 1.0 -.1 4.7

1947

1946

19,175

18,979

14,767

14,759

4,408

4,220

196 8 188 1.0 .1 4.5

1 Includes "facilities” at military installations.

The numbers of banks, branches, and total banking offices operating 

in each State at the end of 1954 are given in Table 18, together with 

similar figures for the end of 1946 and percentage changes for the eightyear period. During this period the number of banking offices in the 

nation increased by 11.5 percent. Three States experienced a reduction 

in the number of banking offices and in two States there was no change. 

The largest percentage reduction was 4.1 percent in Vermont, and the 

largest increase 106.4 percent in Arizona.

29

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 18. N u m b e r a n d P e r c e n t a g e C h a n g e in B a n k s a n d

B r a n c h e s i n E a c h S t a t e , D e c e m b e r 31, 1946, t o D e c e m b e r 31, 1954

State

Number of

banking offices,

December 31

Number of

banks,

December 31

Number of

branches,

December 31

Percentage change

December 31, 1946, to

December 31, 1954

1954 1946 1954 1946 1954 1946 Offices Banks Branches

Total United States. 21,160 18,979 14,409 14,759 6,751 4,220 11.5% -2.4% 60.0%

Continental U. S .. 20,982 18,863 14,366 14,715 6,616 4,148 11.2 -2.4 59.5

Other areas............ 178 116 43 44 135 72 53.4 -2.3 87.5

Alabama....................... 271 242 234 219 37 23 12.0 6.8 60.9

Arizona.......................... 97 47 13 12 84 35 106.4 8.3 140.0

Arkansas....................... 254 249 231 229 23 20 2.0 .9 15.0

California...................... 1,292 1,079 171 201 1,121 878 19.7 -14.9 27.7

Colorado....................... 166 152 161 151 5 I 9.2 6.6 400.0

Connecticut.................. 284 207 177 187 107 20 37.2 -5.3 435.0

Delaware....................... 70 56 36 41 34 15 25.0 -12.2 126.7

District of Columbia. . 71 55 17 20 54 35 29.1 -15.0 54.3

Florida........................... 238 185 226 182 12 3 28.6 24.2 300.0

Georgia.......................... 460 406 401 375 59 31 13.3 6.9 90.3

Idaho.............................. 103 89 38 47 65 42 15.7 -19.1 54.8

913 879 910 876 3 3 3.9 3.9

Indiana.......................... 631 576 478 493 153 83 9.5 -3.0 84.3

Iowa............................... 827 820 665 659 162 161 .9 .9 .6

Kansas........................... 605 615 602 614 3 1 -1.6 -2.0 200.0

Kentucky...................... 437 425 371 390 66 35 2.8 -4.9 88.5

Louisiana...................... 274 217 172 155 102 62 26.3 11.0 64.5

Maine............................ 184 166 93 96 91 70 10.8 -3.1 30.0

Maryland...................... 339 287 160 179 179 108 18.1 -10.6 65.7

Massachusetts............. 660 560 365 381 295 179 17.9 -4.2 64.8

Michigan....................... 766 646 429 448 337 198 18.6 -4.2 70.2

Minnesota..................... 686 684 680 678 6 6 .3 .3

Mississippi.................... 283 255 197 203 86 52 11.0 -3.0 65.4

Missouri........................

Montana.......................

601

110

596

110

600

110

596

110

1 .8 .7 0)

Nebraska....................... 420 419 419 417 1 2 .2 .5 -50.0

Nevada ..................... 32 26 8 8 24 18 23.1 33.3

New Hampshire.......... 113 109 110 106 3 3 3.7 3.8

New Jersey................... 573 509 330 370 243 139 12.6 -10.8 74.8

New Mexico................. 78 50 52 44 26 6 56.0 18.2 333.3

New York..................... 1,777 1,567 689 802 1,088 765 13.4 -14.1 42.2

North Carolina............ 528 388 224 227 304 161 36.1 -1.3 88.8

North Dakota............. 177 176 154 151 23 25 .6 2.0 -8.0

Ohio................................ 980 853 637 677 343 176 14.9 -5.9 94.9

Oklahoma..................... 386 386 384 385 2 1 -.3 100.0

Oregon........................... 186 147 48 71 138 76 26.5 -32.4 81.6

Pennsylvania............... 1,291 1,164 866 1,022 425 142 10.9 -15.3 199.3

Rhode Island............... 96 78 18 32 78 46 23.1 -43.8 69.6

South Carolina............ 229 179 151 149 78 30 27.9 1.3 160.0

South Dakota.............. 222 213 170 169 52 44 4.2 .6 18.2

Tennessee..................... 425 366 297 298 128 68 16.1 -.3 88.2

Texas............................. 942 877 925 873 17 4 7.4 6.0 325.0

Utah............................... 92 71 54 59 38 12 29.6 -8.5 216.7

Vermont........................ 94 98 72 80 22 18 -4.1 -10.0 22.2

Virginia......................... 473 401 316 315 157 86 18.0 .3 82.6

Washington..................

West Virginia. . . .

301

183

243

180

111

183

124

180

190 119 23.9

1.7

-10.5

1.7

59.7

Wisconsin..................... 708 704 558 558 150 146 .6 2.7

Wyoming...................... 54 56 53 56 1 -3.6 -5.4 0)

1 No branches operating in 1946.

Over the same period, 1947 through 1954, the number of banks in 

the nation declined by 2.4 percent. Twenty-five States, the District of 

Columbia, and the areas outside continental United States contributed 

to this decline, with the largest rate of decrease 43.8 percent in Rhode

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
NUMBER OF BANKS AND THEIR INSURANCE STATUS 31

Island. In three States the number of banks was the same at the end of 

1954 as at the end of 1946. In the remaining twenty States the number of 

banks increased, with the largest rate of growth 24.2 percent in Florida.

The number of operating branches of banks in the nation increased 

by 60 percent over the eight-year period. Forty-one States, the District 

of Columbia, and the areas outside continental United States participated in this increase. Branches were opened in two States which 

had none at the beginning of the period, and percentage increases in 

other States ranged up to 435 percent. There were five States in which 

the number of branches was the same at the end of 1954 as at the end 

of 1946, and only two States in which there occurred a decrease. The 

shift toward more branch banking is thus seen in nearly all parts of the 

nation, although it is proceeding more rapidly in some States than in 

others.

Types of operating banks and their insurance status. Of the

14,409 banks operating in the United States on December 31, 1954, 

13,820 were classified as commercial banks. This classification includes 

stock savings banks and trust companies engaged in deposit banking 

as well as other commercial banks. The remaining operating banks 

consisted of 528 mutual savings banks and 61 trust companies not 

regularly engaged in deposit banking.

The number of operating banks of each type at the end of 1954, their 

deposits, and their insurance status are given in Table 19. Trust companies not regularly engaged in deposit banking are not eligible for Federal 

deposit insurance. Of the banks of deposit, 94.4 percent were participating 

in Federal deposit insurance on December 31, 1954, compared with

94.2 percent a year earlier. At the close of 1954, the insured banks held 

95.8 percent of the deposits in all operating banks.

Table 19. N u m b e r a n d D e p o sit 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 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, 1954

Item

Number or deposits Percentage of total

Total Insured

banks

Noninsured

banks

Insured

banks

Noninsured

banks

Number of banks— tota l.................

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........

14,409

14,348

13,820

528

61

$212,031

211,942

185,583

26,359

89

13.541

13.541

13,323

218

$203,195

203,195

183,309

19,886

868

807

U97

310

61

$8,836

8,747

2,27U

6,1*73

89

94.0%

94.4

96.1*

hi.3

95.8%

95.9

98.8

75.U

6.0%

5.6

3.6

58.7

100.0

4.2%

4.1

1.2

24.6

100.0

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

Detailed data: See Table 103, pp. 118-19.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Insurance coverage by State. At the end of 1954 all banks of deposit 

were insured in twelve States and the District of Columbia, and in 

twenty-four other States 95 percent or more of all banks of deposit were 

insured. The percentage of banks of deposit in each State which were 

insured on December 31, 1954, is illustrated in Chart C.

C h a r t C . 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 in E a c h St a t e

W h ic h W e r e I n s u r e d , D e c e m b e r 31, 1954

CONTINENTAL UNJTEO STATES AVERAGE 94.5%

Federal deposit insurance coverage is least complete in certain New 

England States. This is due chiefly to the existence in those States of 

relatively large numbers of mutual savings banks which have not become 

insured by this Corporation.

The percentage of deposits which were in insured banks ranged from 

100 percent in the States in which all banks of deposit were insured to 

52 percent in one of the New England States. In all except eight States 

at least 95 percent of deposits were in insured banks. The percentage of 

deposits in banks of deposit in each State which were in insured banks 

on December 31, 1954, is shown in Chart D.

A s se t s a n d L ia b il it ie s of A l l B a n k s

The assets and liabilities of the banking system continued to grow 

in 1954. Such growth is a characteristic of an expanding economy. The 

growth in total bank assets during any year may take place in a wide 

variety of ways. If the best lending or investing opportunities are found

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF ALL BANKS 33

in loans to commercial and industrial enterprises, banks acquire assets 

of that type. If they lie in real estate lending, banks expand their mortgage 

holdings. Banks may also expand their assets by purchase of newly 

issued or previously existing securities, especially in situations when 

direct lending opportunities are less attractive. Such adjustment to the 

changing needs of the nation’s economy is likely to result in substantial 

differences in the annual rates of growth of various kinds of assets.

C h a r t D . P e r c e n t a g e op D e p o sit s in B a n k s o f D e p o s it in E a c h

St a t e 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, 1954

Bank asset growth in 1954. On December 31, 1954, the total assets 

of all operating banks in the United States, including territories, possessions, and associated areas, amounted to $233 billion. This was 5.2 

percent greater than a year earlier.

The assets and liabilities of all operating banks at the beginning, 

middle, and end of 1954 are shown in Table 20, along with changes for 

the year and year-end percentage distributions. Over the twelve-month 

period total security holdings of banks increased 7.9 percent and their 

total net loans and discounts 6.3 percent. Each, therefore, grew somewhat more rapidly than did total assets. The slower growth in total 

assets is explained by the 2.7 percent decrease in cash and funds due 

from banks.

Of the $7 billion increase in security holdings of the banks during 

1954, $5 billion consisted of obligations of the United States Government

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

and $2 billion of obligations of States and political subdivisions. The 

difference in growth rates for the year, 7 percent for United States 

Government obligations and 17 percent for obligations of States and 

subdivisions, reflects the relatively small change in Federal debt outstanding compared with a more rapid growth in State and municipal debt.

Table 20. A m o u n ts, C h a n g e s, an d P e r c e n ta g e D is tr ib u tio n s op

A s s e ts an d L ia b ilitie s , A l l B a n k s in t h e U n ite d S t a t e s

( C o n t in e n t a l U . S. an d O t h e r A r e a s ), 1954

(Amounts in millions)

Amount on- Change

during 1954

Percentage distributions, Dec. 3 1 ,19541

Asset, liability, or

capital account item Dec. 31,

1954

June 30,

1954

Dec. 31,

1953 Amount Percent1

Percent

of total

assets

Percent of

indicated

component

Total assets.......................... $232,685 $219,918 $221,133 $11,552 5.2% 100.0%

Cash and funds due

from banks.............. 44,754 42,732 45,992 -1,238 -2.7 19.2

Securities.......................... 98,524 92,462 91,325 7,199 7.9 42.3

Securities

100.0%

U. S. Government obligations ...................... 78,004 72,784 72,872 5,132 7.0 33.5 79.2

Obligations of States

and subdivisions........ 13,245 12,520 11,283 1,962 17.4 5.7 13.4

Other securities............. 7,275 7,158 7,170 105 1.5 3.1 7.4

Loans and discounts,

n e t ............................... 86,058 81,653 80,920 5,138 6.3 37.0

Gross loans

98.5%

Valuation reserves............. 1,267 1,178 1,142 125 10.9 .5 1.5

Loans and discounts,

gross........................... 87,325 82,831 82,062 5,263 6.4 37.5 100.0

Commercial and

industrial..................... 27,060 26,321 27,368 -308 -1.1 11.6 31.0

Agricultural (excluding

real estate)............... .. 5,227 5,169 4,989 238 4.8 2.3 6.0

For carrying securities. 4,481 3,745 3,590 891 24.8 1.9 5.1

Real estate..................... 33,580 31,262 29,793 3,787 12.7 14.4 38.5

Other loans to

individuals.................. 14,942 14,647 14,633 309 2.1 6.4 17.1

All other loans............... 2,035 1,687 1,689 346 20.5 .9 2.3

Fixed and miscellaneous assets.................. 3,349 3,071 2,896 453 15.6 1.5

Total liabilities and capital accounts............. $232,685 $219,918 $221,133 $11,552 5.2% 100.0%

Deposits

Deposits............................. 212,031 200,401 201,978 10,053 5.0 91.1 100.0%

Business and personal.. 178,108 166,459 169,783 8,325 4.9 76.5 84.0

Government and interbank............................. 33,923 33,942 32,195 1,728 5.4 14.6 16.0

Total demand deposits.. 186,878 126,950 182,085

69,898

U,288 8.2 58.6 6U.8

Total time deposits......... 75,658 78,1*51 5,765 8.2 82.5 85.7

Miscellaneous liabilities 3,290 2,759 2,946 344 11.7 1.4

Capital accounts............ 17,364 16,758 16,209 1,155 7.1 7.5

Number of banks2................. 14,409 14,507 14,522 -113 -.8

1 Calculated before rounding of data.

2 Includes noninsured banks for which asset and liability data were not available as follows:

21 for Dec. 31, 1954; 14 for June 30, 1954; 14 for Dec. 31, 1953.

Detailed data for 195k call dates: See Tables 104 and 105, pp. 122-25.

The loans and discounts of all banks increased by $5 billion in 1954. 

The major component of this growth was real estate loans, which grew 

by a little less than $4 billion, or by 13 percent. The next largest comDigitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF ALL BANKS 3 5

ponent of the increase in total loans of all banks was loans for carrying 

securities. However, such loans constitute less than 2 percent of bank 

assets, so that even though they increased by 25 percent during the year 

their absolute contribution to loan growth was equal to only about 

one-fourth of that made by real estate loans.

The agricultural loans of all banks, excluding those on farm real estate, 

increased in 1954 by a moderate 5 percent. “ Other loans to individuals,” 

which is the category containing bank loans to consumers for retail 

purchases, home modernization, and other non-business purposes, increased by only 2 percent. Commercial and industrial loans decreased 

by 1 percent during 1954, thus continuing, although at a reduced rate, 

the downward movement in the amount of such loans which began in

1953.

Bank deposit growth in 1954. The deposits of the banking system 

increased by $10 billion in 1954, bringing the total to $212 billion. The 

rate of total deposit growth for the year was 5.0 percent. However, 

demand deposits of the banks increased only 3.2 percent, while time and 

savings deposits increased 8.2 percent.

The year 1954 was the second consecutive year in which over half 

of the total deposit growth was in time and savings deposits, and the 

third consecutive year in which such deposits have grown at a more rapid 

rate than demand deposits.

Bank capital growth in 1954. The capital accounts of all banks 

increased by 7.1 percent during 1954. Since this rate of increase was 

more rapid than that in bank assets, there was an improvement during 

the year in the average ratio of bank capital to total assets.

Half-year movements. In 1954, as in other recent years, bank 

assets and deposits decreased during the first half of the year but increased sufficiently in the last half to produce net growth for the year 

as a whole. Percentage changes in assets and deposits during each half 

year and year, 1947 to 1954, and the average annual or semiannual 

rates over that period, are given in Table 21.

Decreases in bank assets during the first half of the year have varied 

from negligible amounts to 3 percent, while increases in the last half 

of the year have ranged from 3 percent to nearly 8 percent. The various 

combinations of first-half decreases and last-half increases have produced 

net asset growth in each year, varying from less than 0.05 percent in 

1948 to 6.8 percent in 1950. The average annual rate of growth over 

the eight years was 4.1 percent. Changes in deposits have, of course, 

been at about the same rates in each period as changes in assets.

The significance of long-run growth in bank assets and deposits at 

rates approximating the average of recent years should not be overlooked.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Annual growth at the rate of 4 percent would bring about a doubling 

of assets and deposits in approximately 18 years, or a rate of 5 percent 

in about 14 years. Such growth is to be regarded as normal and desirable, 

just as is similar growth in the nation’s physical wealth and productive 

capacity.

Table 21. P e r c e n ta g e C h a n g e s in A s s e ts an d D e p o s its , A l l B a n k s in

t h e U n ite d S t a t e s ( C o n t in e n t a l U . S. an d O t h e r A r e a s ),

H a l f -Y e a r s an d Y e a r s , 1947-1954

Year

Assets Deposits

Full

year

First

half

Last

half

Full

year

First

half

Last

half

1947-1954 average................... 4.1% -1 .5 % 5.6% 3.9% -1.7% 5.7%

1954........................................... 5.2 -.5 5.8 5.0 -.8 5.8

1953........................................... 2.9 -2.8 5.9 2.8 -3.3 6.3

1952........................................... 5.4 -.5 5.9 5.3 -.6 5.9

1951.......................................... 6.0 -1.6 7.7 6.0 -1.7 7.7

1950........................................... 6.8 (>) 6.8 6.6 -.1 6.6

1949.......................................... 2.3 -2.5 4.9 2.0 -2.7 4.8

1948........................................... (2) -2.9 3.0 -.4 -3.2 3.0

1947.......................................... 4.0 -1.2 5.2 3.8 -1.4 5.3

1 Decrease of less than .05 percent.

2 Increase of less than .05 percent.

Components of bank assets and their growth rates, 1947-1954.

At the end of 1954 a little more than two-fifths of the total assets of all 

operating banks were securities, and a little less than two-fifths were 

loans. Eight years earlier, nearly three-fifths of the assets were securities, 

and only one-fifth was loans. In both years, about one-fifth of the assets 

was cash and funds due from banks. In both years a great proportion 

of the securities held were obligations of the United States Government, 

but those obligations declined from more than half of total assets in 

1946 to a third in 1954.

The amounts of bank holdings of United States Government obligations, their loans and discounts, and their holdings of obligations of States 

and political subdivisions at the end of each year from 1946 to 1954 are 

shown in Chart E. Holdings of United States Government obligations 

decreased in some years and increased in others; and their decline as 

a percentage of bank assets is due more to the growth in other bank 

assets than to a reduction in the amounts of Government obligations 

held. Loans and discounts increased year by year and accounted for 

most of the increase in total assets. Bank holdings of obligations of 

States and political subdivisions tripled during the eight-year period, 

but their absolute quantitative importance remains small, being less 

than 6 percent of total assets at the end of 1954.

Yearly rates of increase in each of six categories of assets, and the 

average annual rates during the 1947-1954 period as a whole, together

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF ALL BANKS 37

with the amounts at the ends of 1946 and 1954, are shown in Table 22. 

Examination of these growth rates shows considerable variability both 

when one asset category is compared with another and when the change 

in any category in one year is compared with that in another year.

Chart E. H o ld in g s o f G o v e r n m e n t O b lig a tio n s an d L o a n s,

A l l B a n k s, D e c e m b e r 31, 1946-1954

Over the eight-year period the average annual rate of growth of total 

assets was 4.1 percent. However, the average annual change in the various 

categories of assets ranged from a growth of more than 14 percent in 

holdings of obligations of States and political subdivisions to an average 

decrease of over 1 percent in those of the United States Government.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 22. M a jo r C o m p o n e n ts o f A s s e t s, A ll 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), D e c e m b e r 31, 1946 a n d 1954,

a n d A n n u a l P e r c e n t a g e C h a n g e s, 1947-1954

Date or period Total

assets

Cash and

funds

due

from

banks

U .S .

Government

obligations

Obligations

of States

and subdivisions

Other

securities

Loans

and discounts1

Miscellaneous

assets

Am ount (in m illions):

Dec. 31, 1954..................... $232,685 $44,754 $78,004 $13,245 $7,275 $86,058 $3,349

Dec. 31, 1946..................... 169,255 35,185 87,031 4,471 5,046 35,810 1,712

Percent of total assets:

Dec. 31, 1954..................... 100.0% 19.3% 33.5% 5.7% 3.1% 37.0% 1.4%

Dec. 31, 1946..................... 100.0 20.8 51.4 2.6 3.0 21.2 1.0

Annual percentage

change:

1947-1954 average........... 4.1% 3.1% -1 4 % 14.5% 4.7% 11.6% 8.7%

1954............................ 5.2 -2.7 7.0 17.4 1.5 6.3 15.6

1953............................ 2.9 .5 -.2 6.8 4.1 6.6 8.1

1952............................ 5.4 .1 2.0 12.5 4.3 11.7 4.7

1951............................ 6.0 10.9 -2.2 13.9 .5 12.0 11.8

1950............................ 6.8 12.4 -7.1 23.9 9.0 21.8 8.8

1949............................ 2.3 -7.5 5.8 15.7 5.4 2.8 2.4

1948............................ (2) 2.8 -8.8 7.3 5.9 12.1 11.9

1947............................ 4.0 9.6 -6.2 19.9 7.0 20.7 7.2

1 Net of valuation reserves.

2 Increase of less than .05 percent.

The annual growth in loans and discounts, which averaged nearly 

12 percent per year during the period, varied from less than 3 percent 

in 1949 to nearly 22 percent the following year. The variation in annual 

changes in holdings of United States Government obligations was from 

a decrease of nearly 9 percent in 1948 to an increase of 7 percent in 1954. 

Changes in cash and funds due from banks varied from a decrease of 

more than 7 percent in 1949 to an increase of more than 12 percent the 

following year.

Types of bank loans and their growth rates, 1947-1954. Annual 

rates of change in each of six categories of bank loans during the 1947- 

1954 period, with the amounts and percentage distributions at the 

beginning and end of the period, are shown in Table 23. For the period 

as a whole the loans in three of the categories—agricultural loans, real 

estate loans, and “ other loans to individuals”—increased more rapidly 

than did all loans; while loans of other types increased less rapidly.

Real estate loans showed the most steady growth, but even these 

loans varied considerably from year to year in their growth rate, from 

about 9 percent in 1953 to more than 22 percent in 1947. This continuous, 

though irregular, growth in real estate loans resulted in their displacement of commercial and industrial loans as the most important segment 

of the loan portfolios of the banks. At the end of 1946 commercial and 

industrial loans were almost two-fifths of total bank loans, and real 

estate loans less than one-third; at the end of 1954 these proportions 

were reversed.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF ALL BANKS 39

Table 23, T y p e s o f L o a n s, A l l B a n k s in t h e U n ite d S ta t e s

( C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31, 1946 an d 1954,

an d A n n u a l P e r c e n ta g e C h a n g e s, 1947-1954

Date or period Total

loans1

Commercial

and

industrial

Agricultural

(except

real estate)

For

carrying

securities

Real

estate

loans

Other

loans

to individuals

Ail

other

Am ount (in millions):

Dec. 31, 1954................. $87,325 $27,060 $5,227 $4,481 $33,580 $14,942 $2,035

Dec. 31, 1946................. 35,823 14,237 1,412 3,164 11,675 4,109 1,226

Percent of total loans:

Dec. 31, 1954................. 100.0% 31.0% 6.0% 5.1% 38.5% 17.1% 2.3%

Dec. 31, 1946................. 100.0 39.8 3.9 8.8 32.6 11.5 3.4

Annual percentage

change:

1947-1954 average. . . . 11.8% 8.4% 17.8% 4.4% 14.1% 17.5% 6.5%

1954....................... 6.4 -1.1 4.8 24.8 12.7 2.1 20.5

1953........................ 6.6 -2.4 26.4 12.6 9.4 14.0 -3.4

1952....................... 11.6 7.7 15.1 23.3 10.5 21.1 2.9

1951....................... 11.9 18.0 17.2 -10.3 12.4 3.4 6.6

1950....................... 21.8 28.3 -4.8 8.4 19.5 25.5 35.3

1949....................... 3.1 -9.8 6.3 14.0 9.9 17.2 2.7

1948....................... 13.6 4.2 72.4 12.4 16.8 20.2 5.2

1947....................... 20.7 28.5 18.8 -34.4 22.5 40.9 -11.1

* Includes valuation reserves, which are excluded from net loans in Table 22.

Components of bank deposits and their growth rates, 1947-1954.

At the end of 1954, 84 percent of bank deposits were classified as business 

and personal. Government and interbank deposits were each about 

8 percent of the total. In 1946, the percentages were not much different, 

with business and personal deposits 86 percent of the total, government 

deposits 6 percent, and interbank deposits 8 percent.

In recent years the annual growth in deposits has been a little less 

than the growth in assets. The average increase for 1947-1954 was 

3.9 percent for deposits, in comparison with 4.1 percent for assets. The 

maximum yearly growth in deposits during this period was in 1950, 

when it was 6.6 percent. In 1948 there was no growth, in fact a small 

decrease, in total deposits.

There has, of course, been more variation in the annual rates of growth 

in the various types of deposits than in total deposits. The most extreme 

yearly variation was in deposits of the United States Government. 

Within the large group of personal and business deposits, time and 

savings deposits increased over the 1947-1954 period more rapidly, on 

the average, than demand deposits, but show less variation from year 

to year. In the case of demand deposits, the rate varied from a decrease 

of 2.9 percent in 1948 to an increase of 9.8 percent in 1950; while time 

and savings deposits grew in every year, at rates varying from 1.4 percent 

to 7.7 percent. The yearly and average annual rates for several classes 

of deposits, together with the amounts of the deposits and their percentage distributions at the end of 1954 and the end of 1946, are shown 

in Table 24.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 24. D e p o s its an d C a p ita l, A l l B a n k s in t h e U n ite d S t a t e s

( C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31, 1946 an d 1954,

an d A n n u a l P e r c e n ta g e C h a n g e s, 1947-1954

Deposits

Date or period

Total

Business and personal States

and

subdivisions

United

States

Government

Interbank2

Total

capital

Demand1 Time and

savings

accounts

Am ount (in m illions):

Dec. 31, 1954................... $212,031 $107,077 $71,031 $12,463 $4,601 $16,859 $17,364

Dec. 31, 1946................... 156,751 83,672 50,283 6,895 3,163 12,738 11,345

Percent of total deposits:

Dec. 31, 1954................... 100.0% 50.5% 33.5% 5.9% 2.2% 7.9%

Dec. 31, 1946................... 100.0 53.4 32.1 4.4 2.0 8.1

Annual percentage

change:

1947-1954 average......... 3.9% 3.1% 4.4% 7.7% 4.8% 3.6% 5.5%

1954.......................... 5.0 3.5 7.1 7.0 1.3 5.3 7.1

1953.......................... 2.8 .3 7.2 9.0 -15.1 4.1 4.9

1952......................... 5.3 2.9 7.7 5.8 44.5 1.6 5.1

1951......................... 6.0 6.3 4.1 5.8 21.0 7.6 5.7

1950.......................... 6.6 9.8 1.4 6.6 -7.8 10.5 5.7

1949.......................... 2.0 .6 2.0 4.6 31.9 3.6 4.9

1948......................... -.4 -2.9 1.7 9.9 64.0 -5.8 4.6

1947.......................... 3.8 5.1 4.3 13.0 -51.5 2.5 5.7

1 Includes certified checks, letters of credit, etc.

2 Includes postal savings deposits, and for 1946 a small amount of unclassified deposits.

Capital accounts and their growth rate, 1947-1954. Data on 

bank capital are also given in Table 24. During the 1947-1954 period 

the total capital accounts of all operating banks increased at an average 

annual rate of 5.5 percent, which was more rapid than that of either 

bank assets or bank deposits. However, there were three of the eight 

years, 1950 to 1952, in which the growth in the banks’ capital accounts 

was relatively less than in assets or deposits. In the other years, and for 

the period as a whole, the more rapid increase in capital resulted in an 

improvement of the average capital ratio of the banking system.

A sse 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

Developments in 1954. The assets of insured commercial banks 

increased by 5.0 percent in 1954, and their deposits by 4.7 percent, 

reaching year-end totals of $201 billion and $183 billion, respectively. 

The amounts of assets and liabilities held by insured commercial banks 

at the beginning, middle, and end of 1954, with the changes during the 

year, and year-end percentage distributions, are shown in Table 25.

The broad pattern of asset and deposit change in insured commercial 

banks during 1954 was the same as that for all banks previously discussed. This is to be expected since the insured commercial banks constitute the vast majority of all banks in the nation. The discussion which 

follows is therefore devoted to a more detailed treatment of rates of

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 41

change in 1954, and in other recent years, of insured commercial bank 

loans in the category known as “ other loans to individuals,” their holdings 

of United States Government obligations, and their capital accounts.

Table 25. A m ou n ts, C h a n g e s an d P e r c e n ta g e D is tr ib u tio n s o f

A s s e ts an d L ia b ilitie s , 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 ), 1954

(Amounts in millions)

Amount on- Change

during 1954

Percentage distributions, Dec. 3 1 ,19541

Asset, liability, or

capital account item Dec. 31,

1954

June 30,

1954

Dec. 31,

1953 Amount Percent1

Percent

of total

assets

Percent of

indicated

component

Total assets.......................... $200,588 $188,643 $191,063 $9,525 5.0% 100.0%

Gash and funds due

from banks.............. 43,235 41,241 44,478 -1,243 -2.8 21.5

Securities.......................... 84,142 77,789 76,852 7,290 9.5 42.0

Securities

100.0%

U. S. Government obligations....................... 68,121 62,561 62,473 5,648 9.0 34.0 81.0

Obligations of States

and subdivisions........ 12,387 11,716 10,620 1,767 16.6 6.2 14.7

Other securities............. 3,634 3,512 3,759 -125 -3.3 1.8 4.3

Loans and discounts,

net............................... 70,341 67,011 67,266 3,075 4.6 35.1

Gross loans

98.5%

Valuation reserves............. 1,071 991 961 110 11.4 .5 1.5

Loans and discounts,

gross............................ 71,412 68,002 68,227 3,185 4.7 35.6 100.0

Commercial and

industrial..................... 26,823 26,069 27,157 -334 -1.2 13.4 37.5

Agricultural (excluding

real estate)................. 5,127 5,074 4,884 243 5.0 2.6 7.2

For carrying securities. 4,409 3,670 3,527 882 25.0 2.2 6.2

Real estate..................... 18,348 17,149 16,613 1,735 10.4 9.1 25.7

Other loans to

individuals.................. 14,720 14,412 14,411 309 2.1 7.3 20.6

All other loans............... 1,985 1,628 1,635 350 21.4 1.0 2.8

Fixed and miscellaneous assets................. 2,870 2,602 2,467 403 16.4 1.4

Total liabilities and capital accounts............. $200,588 $188,643 $191,063 $9,525 5.0% 100.0%

Deposits............................. 183,309 172,458 175,083 8,226 4.7 91.4

Deposits

100.0%

Business and personal.. 150,177 139,351 143,668 6,509 4.5 74.9 81.9

Government and interbank............................. 33,132 33,107 31,415 1,717 5.5 16.5 18.1

Total demand deposits. . 13U,788 125,198 180,289 U,U9U 3 4 67.2 73.5

Total time deposits......... 1*8,526 47,260 u , m 3,732 8.3 2U.2 26.5

Miscellaneous liabilities 3,000 2,444 2,716 284 10.5 1.5

Capital accounts............ 14,279 13,741 13,264 1,015 7.6 7.1

Number of banks.................. 13,323 13,400 13,432 -109 -.8

1 Calculated before rounding of data.

Detailed data: See Table 107, pp. 128-31.

“ Other loans to individuals.” For insured commercial banks, data 

are available for the entire 1947-1954 period for five sub-categories of 

the loans reported as “ other loans to individuals.” The five items are 

retail automobile instalment paper, other retail instalment paper, repair 

and modernization instalment loans, instalment cash loans, and singleDigitized for FRASER 

http://fraser.stlouisfed.org/ 

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

payment loans. The amounts of loans of insured commercial banks in 

each of these categories at the end of 1946 and 1954, together with the 

annual percentage changes during the eight years, are given in Table 26.

Table 26. C o m p o n en ts o f “ O t h e r L o a n s T o In d iv id u a ls ” b y In su 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 ),

D e c e m b e r 31, 1946 an d 1954, an d A n n u a l P e r c e n ta g e C h a n g e s, 1947-1954

Date or period

Total

“other

loans to

individuals’*

Retail

automobile

instalment

paper

Other

retail

instalment

paper

Repair and

modernization

instalment

loans

Instalment

cash

loans

Singlepayment

loans

Am ount (in m illions):

Dec. 31, 1954................. $14,720 $4,341 $1,921 $1,687 $2,133 $4,638

Dec. 31, 1946................. 4,031 514 328 311 675 2,203

Percent of total:

Dec. 31, 1954................. 100.0% 29.5% 13.0% 11.5% 14.5% 31.5%

Dec. 31, 1946................. 100.0 12.8 8.1 7.7 16.7 54.7

Annual percentage

change:

1947-1954 average. . . . 17.6% 30.6% 24.7% 23.5% 15.5% 9.8%

1954....................... 2.1 -2.7 -9.2 -0.5 9.8 10.5

1953........................ 14.0 25.5 18.8 15.1 10.4 3.0

1952........................ 21.6 30.5 32.5 28.1 20.2 9.6

1951........................ 3.4 .9 -8.8 7.0 9.7 6.9

1950........................ 25.7 38.2 44.1 16.5 14.0 18.4

1949........................ 17.6 36.2 28.4 26.7 8.3 6.1

1948....................... 20.4 48.6 44.6 30.6 14.4 4.9

1947........................ 40.3 87.9 68.0 79.4 39.9 19.7

Of the five categories of “ other loans to individuals,” retail automobile 

instalment paper increased most rapidly for the 1947-1954 period as a 

whole, and other retail instalment paper was next. In the year 1954, 

however, the amount of loans in both of these groups declined. The 

category with the highest rate of increase in 1954, single-payment loans 

to individuals, was the one with the lowest average increase since 1946.

Holdings of United States Government obligations. The amounts 

of various types and maturities of United States Government obligations 

held by insured commercial banks at the end of 1946 and the end of 

1954, together with the average annual change, are shown in Table 27.

Over the entire period, the banks’ holdings of United States Government obligations have been reduced, but the average annual reduction 

has been less than 1 percent a year. However, there was a substantial 

change in holdings of short-term and long-term obligations, respectively. 

The banks increased their holdings of the shorter-term types of obligations—bills, certificates and notes. In 1954 these were over 36 percent 

of the total Government obligations in comparison with less than 28 

percent in 1946. On the other hand, the banks’ holdings of marketable 

bonds maturing in more than 10 years were less than 8 percent of their 

total Government obligations in 1954, compared with more than 13 

percent in 1946.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 43

Table 27. 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 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 a n d 1954, a n d A v e r a g e A n n u a l P e r c e n t a g e C h a n g e , 1947-1954

Total U. S.

Government

obligations

Bills,

certificates,

and notes

Marketable bonds maturing in—

Other U. S.

Government

5 years obligations1

or less

5 to 10

years

More than

10 years

Am ount (in millions):

Dec. 31, 1954................. $68,121 ■ $24,734 $12,486 $22,979 $5,343 $2,579

Dec. 31, 1946................. 73,575 20,346 12,728 29,700 9,605 1,196

Percent of total:

Dec. 81, 1954................. 100.0% 36.3% 18.3% 33.7% 7.9% 3.8%

Dec. 31, 1946................. 100.0 27.6 17.3 40.4 13.1 1.6

Average annual percentage change:

1947 to 1954, inclusive. -1.0% 2.5% -0.2% -3 .2 % -7 .1 % 10.1%

1 Chiefly nonmarketable bonds.

Capital accounts. Total capital accounts of insured commercial 

banks increased by $1.0 billion in 1954, continuing the growth which 

has taken place in each year since the beginning of Federal deposit 

insurance. A steady growth has been characteristic not only of total 

capital accounts, but also of their major separate components, common 

stock, surplus, and undivided profits. The remaining component, that 

of preferred stock, capital notes, and debentures, is the only one to have 

diminished. This type of capital originated in the period of banking 

stress of the 1930’s, and has now been almost entirely eliminated. The 

amounts of capital accounts of insured commercial banks at the end of 

each year, 1934 through 1954, and a percentage distribution of the 

total capital accounts in each year are given in Table 28.

The percentage distributions indicate that undivided profits and 

reserves have increased in importance among total capital accounts, 

from around 15 percent twenty years ago to 22 percent today. But 

much more striking is the changed importance of capital stock relative 

to surplus. In the early days of deposit insurance the banks’ surplus 

accounts, depleted by losses on assets in the depression period, constituted about one-third of total capital accounts, while capital stock, 

notes and debentures, constituted more than half of total capital accounts. Gradually over the intervening years these proportions have 

reversed, capital stock now constituting a little less than one-third 

and surplus almost one-half of the total.

The year 1954 was the third consecutive year in which the growth 

in capital was more rapid than that in assets, and as a consequence the 

ratio of bank capital to assets for all insured commercial banks rose to 

7.1 percent on December 31, 1954. This was the highest year-end capital 

ratio since 1942.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

T a b le 28. A m o u n t s a n d P e r c e n t a g e D is t r ib u t io n s o f

C a p it a l A c c o u n t 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, 1934-1954

Year

Amounts (in millions) Percentage distributions

Total

capital

accounts

Common

stock

Preferred

capital1

Surplus

Undivided

profits

and

reserves

Total

capital

accounts

Common

stock

Preferred

capital1

Surplus

Undivided

profits

and

reserves

1954 $14,279 $4,238 $ 49 $6,857 $3,135 100.0% 29.7% .3% 48.0% 22.0%

1953 13,264 3,978 52 6,284 2,950 100.0 30.0 .4 47.4 22.2

1952 12,585 3,818 58 5,938 2,771 100.0 30.3 .5 47.2 22.0

1951 11,923 3,631 68 5,504 2,720 100.0 30.4 .6 46.2 22.8

1950 11,281 3,437 82 5,200 2,562 100.0 30.5 .7 46.1 22.7

1949 10,649 3,305 91 4,803 2,450 100.0 31.0 .9 45.1 23.0

1948 10,160 3,163 101 4,504 2,392 100.0 81.1 1.0 44.3 23.6

1947 9,736 3,079 116 4,316 2,225 100.0 31.6 1.2 44.3 22.9

1946 9,288 2,994 148 4,060 2,086 100.0 32.2 1.6 43.7 22.5

1945 8,672 2,837 195 3,785 1,855 100.0 32.7 2.2 43.7 21.4

1944 7,990 2,660 252 3,402 1,676 100.0 33.3 3.1 42.6 21.0

1943 7,454 2,567 308 3,090 1,489 100.0 34.4 4.1 41.5 20.0

1942 7,056 2,506 342 2,802 1,406 100.0 35.5 4.9 39.7 19.9

1941 6,845 2,469 380 2,688 1,308 100.0 36.1 5.5 39.3 19.1

1940 6,673 2,441 431 2,563 1,238 100.0 36.6 6.5 38.4 18.5

1939 6,524 2,432 482 2,443 1,167 100.0 37.3 7.4 37.4 17.9

1938 6,435 2,428 553 2,347 1,107 100.0 37.7 8.6 36.5 17.2

1937 6,404 3,0302 (2) 2,268 1,106 100.0 47.32 (2) 35.4 17.3

1936 6,329 3,0812 (2) 2,185 1,063 100.0 48.72 (2) 34.5 16.8

1935 6,210 3,3002 (2) 1,946 964 100.0 53.22 (2) 31.3 15.5

1934 6,152 3,3492 (2) 1,915 888 100.0 54.52 (2) 31.1 14.4

* Preferred stock, capital notes, and debentures.

2 Preferred stock, capital notes, and debentures included with common stock.

C h a r t F . R a t io s o f T o t a l C a p it a l A c c o u n t s to T o t a l A sse ts of

I n s u r e d C o m m e r c ia l B a n k s , D e c e m b e r 31, 1934-1954

I *

II If! MINIM

° 1934 1935 1936 III 1111111111111II 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1946 1949 1950 1951 1952 1953 1954 °

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF INSURED COMMERCIAL BANKS 45

Capital ratios of all insured commercial banks at the end of each year 

beginning with 1934 are illustrated in Chart F. It will be seen that the 

present ratio, although an improvement over those resulting from the 

rapid wartime expansion of bank assets, has not yet returned to the 

level prevailing before that expansion.

A s se t s a n d L ia b il it ie 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

Developments during 1954. The amounts of assets and liabilities 

reported by insured mutual savings banks at the beginning, middle, 

and end of 1954 are given in Table 29, along with changes for the year 

and year-end percentage distributions.

Table 29. A m o u n t s, C h a n g e s, a n d P e r c e n t a g e D is t r ib u t io n s o f

A sse ts a n d L ia b il it ie s , I n s u r e d M u t u a l Sa v in g s B a n k s , 1954

(Amounts in millions)

Amount on- Change

during 1954

Percentage distributions, Dec. 3 1 ,19541

Asset, liability, or

surplus account item Dec. 31,

1954

June 30,

1954

Dec. 31,

1953 Amount Percent1

Percent

of total

assets

Percent of

indicated

component

Total assets.......................... $21,981 $21,237 $20,334 $1,647 8.1% 100.0%

Cash and funds due

from banks............... 832 807 799 33 4.1 3.8

Securities

Securities..........................

U. S. Government ob9,179 9,317 9,236 -57 -.6 41.7 100.0%

ligations .......................

Obligations of States

6,117 6,309 6,477 -360 -5.6 27.8 66.6

and subdivisions........ 509 452 360 149 41.3 2.3 5.6

Other securities.............

Loans and discounts,

2,553 2,556 2,3991 154 6.4 11.6 27.8

Gross loans

net................................ 11,651 10,804 10,016 1,635 16.3 53.0 98.5%

Valuation reserves.............

Loans and discounts,

176 169 163 13 7.6 .8 1.5

gross............................ 11,827 10,973 10,179 1,648 16.2 53.8 100.0

Real estate loans— total 11,700 10,839 10,070 1,630 16.2 53.2 98.9

On farm land.............

On residential

US U2 kl 2 5.5 .2 4

:properties................. io ,e u 9,1*60 8,768 1,481 16.9 1*6.6 86.6

On other properties. .. i,Uis 1,887 1,266 U 7 11.6 6.1* 11.9

Other loans..................... 127 134 109 18 16.3 .6 1.1

Fixed and miscellaneous assets.................. 319 309 283 36 12.6 1.5

Total liabilities and capital accounts............. $21,981 $21,237 $20,334 $1,647 8.1% 100.0%

Deposits

Deposits............................. 19,886 19,195 18,383 1,503 8.2 90.5 100.0%

Business and personal..

Government and inter19,861 19,173 18,362 1,499 8.2 90.4 99.9

bank ............................. 25 22 21 4 21.1 .1 .1

Total demand deposits. . 52 UB 86 16 1*6.1 .8 .8

Total time deposits......... 19,881* 19,11*7 18,31*7 1,1*87 8.1 90.2 99.7

Miscellaneous liabilities 176 175 133 43 32.7 .8

Surplus accounts........... 1,919 1,867 1,818 101 5.6 8.7

Number of banks................... 218 219 219 -1 -.5

1 Calculated before rounding of data.

Detailed data: See Table 107, pp. 128-31.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

The total assets of insured mutual savings banks increased by 8.1 

percent in 1954, to a total of $22 billion. The entire growth is accounted 

for by increased holdings of real estate mortgages, chiefly on residential 

properties. Real estate loans of these banks increased by 16 percent 

during the year. Holdings of United States Government obligations 

were reduced during the year, but total holdings of securities remained 

nearly unchanged through acquisition of additional obligations of States 

and political subdivisions and of securities other than those of 

governments.

The deposits of insured mutual savings banks increased by 8.2 percent 

during 1954, to a total of $20 billion. Virtually all of the increase was of 

course in time and savings deposits, since mutual savings banks hold 

only a negligible amount of demand deposits.

The surplus accounts of insured mutual savings banks increased 

during 1954 by 5.6 percent. This was a less rapid increase than that in 

assets, so that the ratio of surplus accounts to total assets of insured 

mutual savings banks, which was 8.9 percent at the beginning of 1954, 

had by the end of the year fallen to 8.7 percent.

Comparisions with insured commercial banks. The specialized 

nature of mutual savings banking is indicated by comparisons such as 

those given in Table 30. In that table 1954 growth rates and year-end 

percentage distributions of assets and liabilities of insured mutual savings 

banks and insured commercial banks are placed side by side for comparison.

The rates of growth of mutual savings bank assets and deposits during 

1954 were more than one and one-half times as great as those of commercial banks. Since mutual savings banks deal almost exclusively in 

time and savings deposits, their growth has been favored by the especially 

rapid increase in such deposits during recent years.

At the end of 1954 only 3.8 percent of the assets of insured mutual 

savings banks was in the form of cash and funds due from banks, as 

compared with 21.5 percent for insured commercial banks. The two 

groups of banks each held 42 percent of their total assets in the form of 

securities, but securities other than those of governments were more 

important in the portfolios of mutual savings banks than of commercial 

banks. Of United States Government obligations held, mutual savings 

banks had a larger share of their total in bonds maturing after 10 years 

than did commercial banks.

Loans comprised 53 percent of the total assets of insured mutual 

savings banks, but only 35 percent of the assets of insured commercial 

banks. The loans of mutual savings banks are almost wholly real estate 

loans. Residential mortgages make up the bulk of real estate loans of

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF INSURED MUTUAL SAYINGS BANKS 47

both commercial and mutual savings banks, although loans on farm 

and business properties are of slightly greater relative importance to 

commercial banks. The loans on residential properties reported by 

insured mutual savings banks at the end of 1954 were divided about 

equally among those insured by the Federal Housing Administration, 

those insured or guaranteed by the Veterans Administration, and those 

not insured or guaranteed by either of these agencies. Insured or guaranteed mortgages thus comprised two-thirds of the residential real 

estate loans of the mutual savings banks, as compared with only a 

little over half for commercial banks.

Table 30. C o m p a r a t iv e G r o w t h R a t e s a n d Y e a r -E n d P e r c e n t a g e

D is t r ib u t io n s of A sse ts 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 a n d I n s u r e d M u t u a l Sa v in g s B a n k s , 1954

Asset, liability, or capital

account item

Percentage change

during 1954

Percentage distributions, Dec. 31, 1954

Percent of

total assets

Percent of indicated component

Commercial

banks

Mutual

savings

banks

Commercial

banks

Mutual

savings

banks

Commercial

banks

Mutual

savings

banks

Total assets........................................... 5.0% 8.1% 100.0% 100.0%

Cash and funds due from banks -2.8 4.1 21.5 3.8

Securities

Securities........................................... 9.5 -.6 42.0 41.7 100.0% 100.0%

U. S. Government obligations... 9.0 -5.6 34.0 27.8 81.0 66.6

Bills, certificates, and notes... . -9.U -19.3 12.3 1.0 29.U 2.U

Marketable direct bonds

maturing in:

5 years or less.......................... -29.8 -20.7 6.2 .9 1U.8 2.2

5 to 10 years............................ 126.2 264 11.5 5.2 27.3 12.U

More than 10 years................ 11.8 -11.6 2.7 15.0 6.U 36.0

Other U. S. Government

obligations............................ 2.8 -U.6 1.3 5.7 3.1 13.6

Obligations of States and

subdivisions................................. 16.6 41.3 6.2 2.3 14.7 5.6

Other securities.............................. -3.3 6.4 1.8 11.6 4.3 27.8

Gross loans

Loans and discounts, n e t ........... 4.6 16.3 35.1 53.0 98.5% 98.5%

Valuation reserves.............................. 11.4 7.6 .5 .8 1.5 1.5

Loans and discounts, gross........ 4.7 16.2 35.6 53.8 100.0 100.0

Real estate loans............................ 10.4 16.2 9.1 53.2 25.7 98.9

On farm land.............................. 7.3 5.5 .6 .2 1.6 .4

On residential properties......... 9.7 16.9 6.9 46.6 19.6 86.6

Insured by FH A ..................... 5.2 8.0 2.0 15.5 5.7 28.8

Insured or guaranteed by V A . 9.5 U6.9 1.6 1U.8 U.6 27.U

Not insured or guaranteed by

FHA or V A ........................ 12.7 5.7 3.3 16.3 9.3 so.u

On other properties................... 15.1 11.6 1.6 6.4 4.5 11.9

Other loans...................................... 2.8 16.3 26.5 .6 74.3 1.1

Fixed and miscellaneous assets. 16.4 12.6 1.4 1.5

Total liabilities and capital accounts ......................................... 5.0 8.1 100.0 100.0

Dej>osits

Deposits.............................................. 4.7 8.2 91.4 90.5 100.0% 100.0%

Business and personal................... 4.5 8.2 74.9 90.4 81.9 99.9

Government and interbank......... 5.5 21.1 16.5 .1 18.1 .1

Total demand deposits.................... 5 4 1*6.1 67.2 .3 73.5 .3

Total time deposits.......................... 8.3 8.1 2U.2 90.2 26.5 99.7

Miscellaneous liabilities.............. 10.5 32.7 1.5 .8

Capital accounts............................. 7.6 5.6 7.1 8.7

Supporting data: See preceding tables of this Part, and Table 107, pp. 128-31.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

I n c o m e o f I n s u r e d C o m m e r c ia l B a n k s

Growth and sources of bank income, 1947-1954. Total income 

of insured commercial banks has increased steadily in recent years, 

almost doubling between 1947 and 1954. Most of this growth in income 

has been due to the growth in volume of bank assets and to increases 

in the average rates of earnings on them. Income from service activities, 

while less important, also advanced steadily; and in 1954 profits on the 

sale of assets added significantly to total income. The income of insured 

commercial banks from 1947 to 1954, classified by source and disposition, 

is shown in Table 31.

Table 31. S o u r c e s a n d D isp o sitio n o f T o t a l I n c o m e ,

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 ), 1947-1954

(In millions)

Item 1954 1953 1952 1951 1950 1949 1948 1947

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

Sources

Current operating earnings. . . .

Loans..........................................

TJ. S. Government obligations.

Other securities..........................

Service charges on deposits___

Other current earnings.............

Recoveries, etc.1...........................

Disposition

Current operating expenses. . . .

Salaries and wages...................

Interest on deposits...................

Other current expenses.............

Income taxes.................................

Dividends......................................

Additions to capital accounts..

$6,405

5,774

3,263

1,273

325

312

601

631

$3,638

1,762

618

1,258

553

907

517

790

$5,636

5,484

3,156

1,207

298

271

552

152

$3,376

1,652

535

1,189

448

786

474

552

$5,076

4,932

2,78 k.

1,099

277

2U5

527

144

$3,029

1,495

U58

1,076

362

695

442

548

$4,564

4,395

2,U25

98U

2U9

230

507

169

$2,701

1,350

385

966

395

560

419

489

$4,177

3,931

2,008

1,015

226

212

1>70

246

$2,445

1,202

3!>3

900

367

428

391

546

$3,820

3,607

1,760

1,013

202

19 U

U38

213

$2,284

1,111

328

8U5

380

325

354

477

$3,670

3,404

1,600

1,008

190

17 U

US 2

266

$2,164

1,0U

317

803

486

275

332

413

$3,360

3,098

1,282

1,080

179

1U8

U09

262

$1,982

9U7

298

737

295

302

315

466

1 Recoveries, transfers from valuation reserves, and profits on assets sold.

2 Charge-offs, losses, and transfers to valuation reserves.

Detailed data: See Table 109, pp. 138-39.

Interest on loans and securities has furnished about three-fourths of 

total income during this period. In 1947 loans and securities each supplied 

about the same proportion; by 1954 the proportion furnished by loans 

had increased to over one-half of total income, while that furnished by 

securities had declined to one-fourth. The respective contributions of 

loans and securities reflect in part changes in the composition of assets 

and in part changes in rates of interest.

Between 1947 and 1954, income from loans increased 155 percent 

and that from securities 27 percent. Most of the growth in income from 

loans was due to larger average holdings; these doubled during the period 

while the average rate of income on loans advanced 26 percent. In 

contrast, practically all of the increase in income from securities was

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED COMMERCIAL BANKS 4 9

due to the higher average rate of income, which also advanced 26 percent, 

while average holdings were only 1 percent greater.

About one-fourth of bank income consists of service charges on deposit 

accounts, trust department operations, fees for miscellaneous services, 

and “ nonoperating” items. A steady increase in service charges on deposit 

accounts slightly raised their contribution to total income to a current 

figure of about 5 percent. Other current earnings, including income 

from trust departments, have furnished from 9 to 12 percent. The nonoperating items, consisting of recoveries on assets previously charged off, 

amounts returned to earnings from reserves for losses, and profits on 

sales of assets have provided a fluctuating proportion ranging from 

3 percent to 10 percent of total income.

Disposition of bank income, 1947-1954, Since 1947 there has been 

relatively more stability in the disposition of bank income than in its 

sources. During this period bank officers and employees have received 

as compensation each year between 28 and 30 percent of total income. 

About 20 percent has been used for the other services, supplies and 

facilities required to operate a bank. Depositors received between 8 and 

10 percent of total income as interest paid for the use of their savings 

and time deposits. Charge-offs and provision for losses have been the 

least stable element of expenditure, varying from 7 to 13 percent of total 

income. The proportion of total income absorbed by Federal and State 

income taxes has increased steadily from about 8 percent in 1948 to 14 

percent in 1954. Net profits after taxes have been between 18 and 23 percent of total income; somewhat less than half of this has been disbursed 

to stockholders in the form of dividends.

Income and its sources in 1954. Total income of insured commercial 

banks amounted to $6,405 million in 1954, 14 percent more than in

1953. All major components of income shared in the growth. Income in

1954, distributed by its sources and disposition, is shown in Chart G. 

Rates of income on loans and on securities, for each year from 1947 to

1954, together with other operating ratios, are shown in Table 32.

Income from loans advanced 3 percent in 1954. This may be compared 

with an average annual growth of 16 percent during the preceding 

six years, in none of which was the increase less than 10 percent. Such 

growth as occurred in loan income in 1954 was due to the higher average 

volume of loans, for the average rate of return on loans, 4.79 percent, 

was slightly lower. This was the first decline since 1945 in the average 

rate of income on loans.

The growth in income from securities in 1954, in contrast with that 

from loans, was about twice as much as the average increase during 

the preceding six years. The 6 percent increase in 1954 was due, as in

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

the case of loans, to the banks’ larger average holdings, for the average 

rate of return of 2.01 percent was the same as in 1953.

Chart G . So 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 C o m m e r c ia l B a n k s , 1954

Table 32. 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 ), 1947-1954

Operating ratio1 1954 1953 1952 1951 1950 1949 1948 1947

Net current operating

earnings to total assets 1.10% 1.14% 1.06% 1.00% .93% .87% .82% .75%

Ratios to total capital

accounts:

Of net profits after taxes 9.50 7.93 8.07 7.82 8.51 7.98 7.49 8.20

Of dividends and interest on capital.......... 3.76 3.66 3.60 3.61 3.55 3.40 3.33 3.31

Of retained net profits. . 5.74 4.27 4.47 4.21 4.96 4.58 4.16 4.89

Average rate of income:

On loans.......................... 4.79 4.84 4.64 4.45 4.34 4.22 4.04 3.79

On U. S. Government

obligations.................... 1.98 1.98 1.80 1.65 1.59 1.61 1.57 1.54

On other securities........ 2.14 2.11 2.04 1.99 2.04 2.15 2.14 2.16

Average interest paid on

time and savings deposits .............................. 1.32 1.24 1.15 1.03 .94 .91 .90 .87

Average service charges

to demand deposits. . . .24 .21 .20 .20 .19 .19 .17 .14

Income taxes to net profits before income taxes 40.98 43.39 41.24 38.12 31.35 28.11 26.98 27.89

1 For data used in deriving these ratios, and additional ratios, see Tables 109 and 110, pp. 138-41.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED COMMERCIAL BANKS 51

The greatest stimulus to bank income in 1954 came from nonoperating 

items, consisting of recoveries, transfers from valuation reserves, and 

profits on securities sold or redeemed. These were more than four times 

as large in 1954 as in 1953, and exceeded charge-offs for the first time 

since 1946. The rise in these items increased their proportion of total 

income from 3 percent to 10 percent.

The major part of the advance in nonoperating income was derived 

from profits on sales and redemption of securities. Banks of all sizes 

received profits from this source. Banks with deposits of up to $10 

million, which held 20 percent of all the banks’ investments in securities, 

received about 9 percent of the profits on sales of securities. Those 

with deposits of more than $100 million, having 54 percent of average 

security holdings of all the banks, received 63 percent of the profits on 

securities sold. Among banks of intermediate size profits on sales of 

securities were approximately proportionate to holdings of securities.

Current operating expenses in 1954. Current operating expenses 

increased 8 percent in 1954, somewhat more than the growth in current 

operating earnings.

As usual, wages and salaries were the principal operating expense. 

Both a larger number of employees and slightly higher average rates of 

compensation were factors in the larger disbursements, as indicated in 

Table 33. Bank officers earned an average of $7,702 and other employees 

an average of $2,984 in 1954, reflecting increases of 43 percent and 

38 percent, respectively, in the average rates of compensation since 

1947. These amounts of compensation are undoubtedly understated 

because of the inclusion of part-time employees; they exclude such 

“fringe” benefits as payments for hospitalization insurance or into 

pension funds which are widespread among banks.

Table 33. N u m b e r a n d C o m p e n s a t io n o f E m p l o y e e s of I n s u r e d C o m m e r c ia l

B a n k s in t h e U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s), 1947-19541

Year

Employment2 Salaries and wages

(in thousands) Average salary

Officers Others Officers Others Officers Others

1954............................................... 80,870 381,687 $622,862 $1,139,013 $7,702 $2,984

1953............................................... 78,164 367,537 582,405 1,069,890 7,451 2,911

1952............................................... 75,280 346,643 530,035 965,197 7,041 2,784

1951............................................... 72,686 323,642 486,300 864,519 6,690 2,671

1950............................................... 70,502 304,316 446,043 755,681 6,327 2,483

1949............................................... 68,524 294,161 410,685 700,065 5,993 2,380

1948............................................... 66,674 288,043 381,756 662,696 5,726 2,301

1947............................................... 64,218 277,733 344,845 602,266 5,370 2,169

1 Comparable data for the years 1937 to 1946 are given in the Annual Report of the Corporation

for 1948, page 44.

2 Average of numbers of full and part-time employees at the beginning and end of the year.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

The item of current expense which increased the most in 1954 was 

interest on time deposits. Such interest payments rose 16 percent, due 

to a 9 percent advance in the average volume of time deposits and to 

an increase from 1.24 percent to 1.32 percent in the average rate of 

interest paid on them.

Charge-offs, losses, and valuation reserves in 1954. In 1954, 

for the first time since 1946, nonoperating expenses were less than nonoperating income. Banks handle their nonoperating expense items in 

two general ways. Many banks, chiefly the smaller ones, treat losses and 

charge-offs as direct expense items. However, a growing proportion of 

banks make such charges to valuation reserves which have previously 

been set aside from earnings.

Transfers to reserve accounts for losses on both securities and loans 

increased in 1954. Such transfers for securities were more than twice 

as much, and for loans substantially more, than in 1953.

Additions to valuation reserves for securities in 1954 brought the 

ratio of such reserves to average holdings of securities to 0.35 percent. 

The additions to valuation reserves for loans increased the ratio of such 

reserves to the average amount of loans to 1.57 percent. The amounts of 

the reserves and their ratios to securities and loans, respectively, for 

each year, 1948 to 1954, are given in Table 34.

Table 34. R e s e r v e s fo r L o sses o n Se c u r it ie s a n d L o a n s, a n d R a t io s of

R e s e r v e s to A v e r a g e Se c u r it ie s a n d L o a n 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 ), 1948-1954

(Amounts in thousands)

Year Reserves for

losses on

securities1

Reserves for losses on loans1 Ratio of reserves to—

Total Allowed

by IRS2 Other Securities8 Loans3

1954................................ $277,399 $1,071,817 $930,408 $141,409 .35% 1.57%

1953................................ % 234,823 963,672 827,058 136,614 .31 1.48

1952................................ ; 242,835 905,553 794,031 111,522 .33 1.51

1951................................ 254,236 818,408 716,445 101,963 .35 1.50

1950................................ 11 250,388 673,670 590,560 83,110 .33 1.46

1949................................ V 238,271 548,868 464,034 84,834 .33 1.32

1948................................ 1 233,441 409,755 320,658 89,097 .32 1.03

1 As of December 31. Not available prior to 1948.

2 Reserves for bad-debt losses on loans established pursuant to Section 166 (c) of the Internal

Revenue Code and rulings thereunder by the Internal Revenue Service.

* Based on averages of loans and securities, respectively, at beginning, middle and end of year.

Net profits in 1954. The increase in current operating expenses 

almost absorbed the growth in gross current operating earnings. Hence 

net current operating earnings in 1954 were only slightly above 1953. 

However, net current earnings were augmented, rather than reduced 

as is usually the case, by the difference between nonoperating income

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED COMMERCIAL BANKS 53

and nonoperating expenses, so that net profits before income taxes were 

substantially greater than in 1953.

The advance in net profits brought with it an increase in income taxes. 

Such taxes absorbed 41 percent of net profits before taxes. This reduced 

the rate of net profits on total capital accounts from 16.1 percent before 

income taxes to 9.5 percent after income taxes. Net profits after taxes 

were $1,307 million, 27 percent above the previous high of 1953; and 

the 9.5 percent average return on capital was the highest since 1946.

The variation from this average rate was greater among States than 

among banks grouped by size. Among States, the rate of net profits 

after taxes ranged from 17.7 percent in Idaho to 4.4 percent in Rhode 

Island. On the other hand, the range by size of bank was from 10.1 

percent for banks with deposits of $25 million to $50 million to 8.0 percent 

for those with deposits of $1 million or less. Chart H gives a distribution 

by State of rates of net profit. Chart I indicates the rates and disposition 

of net profits by deposit size of bank, and also shows the average capital 

ratio for each group of banks.

Chart H . R a t e s o f N e t P r o f its 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 t s, I n s u r e d C o m m e r c ia l B a n k s in E a c h St a t e , 1954

The lower average rate of profit shown by the smallest size group of 

banks was partly a reflection of the higher average capital accounts 

relative to assets held by these banks, as indicated by Chart I. Similarly,

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
5 4 FEDERAL DEPOSIT INSURANCE CORPORATION

States whose banks show relatively low rates of net profits frequently 

have relatively high capital ratios.

Chart I. R a t e s a n d D is p o s it io n of N e t P r o f its A f t e r T a x e s

C o m p a r e d W it h C a p it a l 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 ,

B y Siz e of B a n k , 1954

BAN KS W ITH D E P O S ITS 0 F -

(IN MILLIONS OF OOLLARS)

10% 8 % 6 % 4 % 2 %

RATIO OF TOTAL CAPITAL ACCOUNTS 

TO TOTAL ASSETS

r

2 % 4 % 6 % 8 % \O X

RATE OF N ET PROFITS AFTER TAXES 

ON TO TA L CAPITAL ACCOUNTS

On the whole, two-fifths of net profits after taxes were distributed to 

stockholders in 1954. Although this was a smaller proportion of net 

profits than was paid out in 1953, total dividends were 9 percent greater 

than in 1953. Rates of dividends ranged upwards from 2.7 percent of 

total capital accounts for the smallest banks to 4.3 percent for the largest 

size group of banks; the corresponding figure for all insured commercial 

banks was 3.8 percent.

Net profits retained were 43 percent greater than in 1953. Totaling 

$790 million, they furnished the principal addition to bank capital 

during the year.

I n c o m e of 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 1954. Total income of 

insured mutual savings banks in 1954 was $781 million, an increase of 

14 percent over 1953. As indicated by Chart J, 57 percent of this amount

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED MUTUAL SAYINGS BANKS 5 5

was derived from real estate loans, 20 percent from United States Government obligations, and 12 percent from other securities. Except for the 

fact that the loan income was predominantly from real estate mortgages, 

the pattern of income sources was broadly similar to that of commercial 

banks.

C h a r t J . 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 , 1954

It is in the disposition of income that the two kinds of banks differ 

most, for about three-fifths of the income of mutual savings banks went 

to depositors as dividends and interest. Salaries and wages took less than 

one-tenth, and other current expenses a slightly smaller proportion. 

Another marked difference from commercial banks was the small 

proportion, only slightly more than 1 percent, required for franchise and 

income taxes.

Growth of income in 1954. About two-thirds of the increase in 

income of insured mutual savings banks in 1954 came from real estate 

loans. Income from securities remained about the same, as a decline in 

earnings on United States Government obligations was about offset 

by an advance in income from other securities. Most of the remaining 

increase in income came from profits on securities sold or matured, 

which rose from $5 million to $24 million. Table 35 shows the changes 

in the principal income components between 1953 and 1954.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Table 35. A m o u n t s a n d P e r c e n t a g e D is t r ib u t 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 , 1953 a n d 1954,

a n d P e r c e n t a g e C h a n g e , 1953 to 1954

(Amounts in millions)

Item

Amounts Percentage

change

1953 to

19541

Percentage

distribution1

1954 1953 1954 1953

Total Income................................................... $781 $684 14.1% 100.0% 100.0%

Sources

Real estate mortgage loans........................ 447 382 17.1 57.3 55.8

U. S.-(Government obligations................... 156 165 -5.3 20.0 24.1

Other securities............................................. 96 82 17.3 12.3 12.0

Other current income.................................. 22 18 19.9 2.8 2.7

Nonoperating income.................................. 60 37 60.2 7.6 5.4

Disposition

Salaries and wages........................................ 71 65 8.4 9.1 9.6

Other current expenses................................ 69 62 11.6 8.8 9.0

Franchise or income taxes.......................... 11 8 24.2 1.4 1.3

Dividends and interest on deposits.......... 466 415 12.3 59.7 60.7

Nonoperating expenses................................ 65 71 -7.7 8.3 10.3

Net additions to surplus............................. 99 63 57.7 12.7 9.2

1 Percentages are computed from unrounded data; in the distributions they do not necessarily add

to 100 percent.

Nearly all of the increase in current operating income was due to the 

larger average volume of earning assets, particularly of real estate loans. 

Changes in the average rates of income were minor as indicated by 

Table 36.

Table 36. Se l e c t e d A m o u n t s a n d A v e r a g e R a t e s o f I n c o m e a n d

D is b u r s e m e n t 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 , 1951-1954

Item 1954 1953 1952 1951

Average rates of income on assets:1

Real estate loans................................................................ 4.14% 4.11% 4.08% 4.13%

U. S. Government obligations........................................ 2.31 2.49 2.43 2.35

Other securities.................................................................. 3.19 3.16 3.05 2.98

Average compensation of employees:2

Officers.................................................................................. $11,710 $10,925 $11,373 $10,719

Other employees................................................................ 3,734 3,627 3,495 (3)

Fringe benefits.................................................................... 851 821 789 (*)

Dividends on deposits:

Amount (in millions)......................................................... $466 $415 $365 $282

Rate1..................................................................................... 2.37% 2.35% 2.27% 1.88%

Net additions to surplus accounts (in millions)............. $99 $63 $51 $123

Ratio of capital and surplus accounts to total assets,

December 31................................................................... 8.7% 8.9% 9.3% 9.8%

1 Rates relate to average of asset and liability items reported at beginning, middle and end of year.

2 Based on average of number^of employees at beginning and end of year.

8 Not available.

Detailed data: See Tables 107, 116, and 117, pp. 128-31 and 160-63 of this Report; and Table 109,

pp. 108-111, Annual Report for 1952.

Compensation of employees. The average salary of mutual savings 

bank officers in 1954 was $11,710, and of other employees $3,734. The

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INCOME OF INSURED MUTUAL SAVINGS BANKS 57

increase over 1953 was 3 percent in each case. In addition, the banks 

set aside or paid out in the form of fringe benefits—pensions, social 

security taxes, hospitalization and group insurance payments, and other 

benefits—an average of $851 per employee. The average salaries are 

higher than those reported for insured commercial banks, largely due to 

the geographical concentration of insured mutual savings banks in 

higher wage areas, and 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 and 

interest on deposits increased 12 percent to $466 million in 1954. This 

represented a rate of 2.37 percent on average deposits, about the same 

as in 1953.

Nothwithstanding increased expenses and greater dividends, insured 

mutual savings banks added over one-half more to surplus in 1954 than 

in 1953. The $99 million added to surplus represented about one-eighth 

of total income in 1954. However, even this substantial addition was 

relatively less than the growth in assets, causing the ratio of surplus 

accounts to total assets to extend its steady decline since 1951. In the 

four years it moved downward from 9.8 percent to 8.7 percent.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART THREE

ASSETS AND LIABILITIES OF BANKS GROUPED BY SIZE

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
A s s e t a n d L ia b ilit y C h a r a c t e r is t ic s o f In s u r e d C o m m e rc ia l B a n k s

G ro u p e d b y S ize, J u n e 30, 1954

The asset and liability statements of insured commercial banks as of 

June 30, 1954, were tabulated to provide information not available for 

previous dates. These special tabulations relate to: (1) the proportions of 

assets and deposits of all insured commercial banks held by banks in 

various size groups, (2) the average asset and liability structures of 

banks within various size groups, and (3) distributions of banks according 

to ratios characterizing their individual asset and liability structures.

P r o p o r t io n s o f A s se t s a n d L ia b il it ie s o f a l l I n s u r e d C o m m e r c ia l

B a n k s h e l d b y V a r io u s Siz e G r o u p s o f B a n k s

The banking system of the United States includes thousands of small 

banks, but a very large proportion of the assets and liabilities of the 

system is held by a relatively small number of banks. Over five thousand 

of the banks have deposits of $2 million or less. These banks, taken 

together, have less than 4 percent of the assets of all insured commercial 

banks. On the other hand, there are 18 banks, each with deposits of more 

than $1 billion, which hold 26 percent of the assets of all insured commercial banks.

C h a r t K . P e r c e n t a g e D is t r ib u t io n s of I n s u r e d C o m m e r c ia l B a n k s a n d

o f T h e ir A g g r e g a te A ss e t I te m s A m o n g Siz e G r o u p s, J u n e 30, 1954

BANKS WITH DEPQS1TS O F> C S S 2 or less E 3 10 to 50 1' ’ to 1,000 

(In millions of dollars) ^ 2 t0 |6 £ 3 5 0 .0 2 5 0 E 3 More thon 1,000

ft in 40 so fif> Tfi an

BANKS

TO TA L A S S E TS

N ET LOANS AND 

DISCOUNTS

UNITED S T A T E S 

GOVERNMENT OBLIGATIONS

OBLIGATIONS OF S T A T E S 

AND SUBDIVISIONS

CASH AND FUNDS DUE 

FROM BANKS

0 10 2 0 30 4 0 90 60 70 BO 90 IOO

PERCENT

61

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 3 7 . P e r c e n t a g e D is t r ib u t io n s of I n su r e d C o m m e r c ia l B a n k s a n d o f T h e ir A g g r e g a t e

A s s e t Item s Am ong Size G ro u p s, J u n e 30, 1954

Number of banks

Total

assets

Loans and U. S. Obligations of Cash and

Size group

Number Percent

of total

discounts,

net

Government

obligations

States and

subdivisions

funds due

from banks

All insured commercial banks................................................. 13,400

2,002

3,084

4,340

2,012

1,189

369

100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Banks with deposits (in millions of dollars) of—

1 or less .......................................................................................... 14.9 .8 .9 .8 .5 .8

1 to 2 ................................................................................................. 23.1 2.7 2.8 2.9 1.9 2.5

2 to 5 .......................................................................................... 32.3 8.0 7.8 8.6 8.5 7.5

5 to 10 ........................................................................................ 15.1 8.1 7.7 8.9 9.8 7.3

10 to 25 .......................................................................................... 8.8 10.4 9.9 11.4 11.9 9.3

25 to 50 .......................................................................................... 2.8 7.3 6.9 7.8 8.1 6.9

50 to 100 ...................................................................................... 189 1.4 7.5 7.4 7.6 7.5 7.5

100 to 250 ...................................................................................... 123 .9 10.6 10.0 11.0 9.0 11.4

250 to 500 ...................................................................................... 50 .4 9.7 9.8 9.6 7.3 10.7

500 to 1,000.................................................................................... 24 .2 9.0 9.0 8.1 10.0 9.9

More than 1,000............................................................................ 18 .1 25.9 27.8 23.3 25.5 26.2

Amount (in millions) » all insured commercial banks1............. $188,643 $67,011 $62,561 $11,716 $41,241

1 The amounts of each category of assets held by banks in each of the size groups are shown in Table 108, pp. 132-83.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES HELD BY VARIOUS SIZE GROUPS 63

Major asset items. Table 37 gives: (1) the percentage of all insured 

commercial banks in each of eleven size groups, (2) the percentage of 

the total assets of all the banks held by the banks in each group, and (3) 

similar percentages for four major types of assets— loans and discounts, 

United States government obligations, obligations of States and political 

subdivisions, and cash and funds due from banks. These distributions 

are illustrated, with fewer size groups, in Chart K.

In each of the major asset categories, as in total assets, the 18 banks 

in the largest size group held roughly one-fourth of the amount held by 

all the banks. However, there are moderate differences between the asset 

components. The cash and funds due from banks and the loans and discounts are a little more heavily concentrated in the largest banks than 

are securities.

Loans by type. The loan structures of the various size groups of 

banks differ markedly from one another. Certain types of loans are heavily 

concentrated in the largest banks. Other types are more evenly distributed, 

or are held largely by banks in the smaller size groups. These differences, 

for five types of loans, are indicated in the percentage distributions of 

Table 38, and illustrated in Chart L.

C h a r t L. P e r c e n t a g e D is t r ib u t io n s o f I n s u r e d C o m m e r c ia l B a n k s a n d

of T h e ir A g g r e g a t e L o a n I t e m s A m o n g Siz e G r o u p s, J u n e 30, 1954

BANKS W ITH DEPOStTS Ofi 

(In milliofti of dollari)

B A N K S

GROSS LO A N S AND 

D ISC O UN TS

COMMERCIAL AND 

INDUSTRIAL LOANS

AGRICULTURAL LOANS 

(EXCLUDING REAL ES TA TE)

LOANS FOR CARRYING 

SECURITIES

REAL E S T A T E LOANS

OTHER LOANS TO 

INDIVIDUALS

32 or Im 10 to 50 L ‘ •“ l zSO (0 1,000 

t«IO CZ| 5 0 to2 5 0 m Mor* than 1,000

Ranking the five loan categories in order of greatest to least concentration in the larger banks of the system we obtain: (1) loans for carrying

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 38. P e r c e n t a g e D is tr ib u tio n s op In su re d C o m m erc ia l B a n k s an d o f T h e ir A g g r e g a t e

G r o s s L o a n Item s A m ong S ize G ro u p s, J u n e 30, 1954

Size group

Number

of

banks

Loans and

discounts,

gross1

Commercial

and

industrial

loans

Agricultural

loans (excluding real

estate)

Loans for

carrying

securities

Real

estate

loans

Other loans

to

individuals

All insured commercial banks................................................. 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Banks with deposits (in millions of dollars) of—

1 or less............................................................................................ 14.9 .9 .2 5.4 (2) .9 .8

1 to 2 ................................................................................................. 23.1 2.7 .7 13.9 .2 3.3 2.7

2 to 5................................................................................................. 32.3 7.8 3.0 26.8 .9 11.1 8.2

5 to 10.............................................................................................. 15.1 7.7 3.7 14.0 1.3 11.9 9.7

10 to 25............................................................................................ 8.8 9.8 6.0 7.8 2.6 14.9 13.8

25 to 50............................................................................................ 2.8 6.9 5.3 4.1 2.8 9.1 9.4

50 to 100.......................................................................................... 1.4 7.4 7.1 4.5 3.1 7.4 10.1

100 to 2 5 0 ;...................................................................................... .9 10.0 10.2 5.4 8.2 8.7 12.5

250 to 500........................................................................................ .4 9.8 11.9 5.1 10.7 8.0 9.4

500 to 1,000.................................................................................... .2 9.0 12.2 4.3 12.7 5.7 7.7

More than 1,000............................................................................ .1 28.0 39.7 8.7 57.5 19.0 15.7

Number or amount (in millions), all insured commercial

banks*............................................................................................... 13,400 $68,002 $26,069 $5,074 $3,669 $17,149 $14,412

1 The very slight differences between this distribution and that for net loans and discounts given in Table 1 are due to the fact that valuation reserve accounting is more

common among large banks than among small banks.

2 Less than .05 percent.

* The amounts held by banks in each of the size groups are shown In Table 108, pp. 132-33.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES HELD BY VARIOUS SIZE GROUPS 65

securities, (2) commercial and industrial loans, (3) real estate loans, 

(4) “ other loans to individuals,” 1 and (5) agricultural loans.

More than one-half of the loans for carrying securities in all insured 

commercial banks are held by banks with deposits of more than $1 billion, 

a degree of concentration which is not surprising since most of these banks 

are located in financial centers. In the case of commercial and industrial 

loans, the largest 18 banks held two-fifths of the total, and the largest 

92 banks nearly two-thirds. Other loans to individuals and real estate 

loans were each considerably less concentrated than loans for carrying 

securities or commercial and industrial loans, but markedly more concentrated than agricultural loans. If real estate loans are further divided, 

there is found to be a greater concentration in residential and other 

nonfarm real estate loans than in agricultural real estate loans.

By contrast, the 18 institutions with deposits of more than $1 billion 

held less than one-tenth of the agricultural loans on June 30, 1954. 

Nearly one-half of the agricultural loans of all insured commercial banks 

are made by banks with deposits of $5 million or less. Prior to the program 

begun by the Commodity Credit Corporation late in 1953, under 

which certificates of interest in pooled agricultural paper were sold in 

considerable volume to larger banks, an even smaller share of the total 

agricultural loans was held by them.

Deposit items. Distributions of total deposits and of several important 

categories of deposits are given in Table 39. The total deposits of insured 

commercial banks are held by those in the various size groups in nearly 

the same proportions as were the total assets of the system. This may be 

seen in the similarity of the total deposit bar of Chart M to the total 

asset bar of Chart K.

Total deposits may be classified into three types according to holder: 

business and personal deposits, government deposits, and interbank 

deposits. Government deposits, which include not only those of the United 

States Government but also those of States and political subdivisions, 

are more evenly distributed among the banks than are the other two 

categories of deposits. Business and personal deposits are a little less 

heavily concentrated in large banks than are total deposits.

The category of deposits most heavily concentrated in large banks is 

interbank deposits. These represent for the most part deposits of the 

smaller correspondent banks in the larger banks. To illustrate this point, 

Chart N gives the distribution among size groups of banks of balances 

with other banks in the United States, as reported among the assets 

of insured commercial banks on June 30, 1954, and also the distribution of interbank deposit liabilities as shown in the previous chart. It

1 Loans to individuals except for business or agricultural purposes, for carrying securities, or on real

estate.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
oCT>

Table 39. P e r c e n t a g e D is tr ib u tio n s o f In su re d C o m m e rc ia l B a n k s an d o f T h e ir A g g r e g a t e

D e p o s it Item s A m ong Size G ro u p s, J u n e 30, 1954

Number

Business and personal deposits

Total

deposits

Interbank

deposits

Government

deposits2 Size group of

banks Total Demand1 Time and

savings

All insured commercial banks........................................ .. 100.0%

14.9

100.0%

.8

100.0% 100.0% 100.0% 100.0% 100.0%

Banks with deposits (in millions of dollars) of—

1 or less............................................................................................ .9 .9 .8 (3) .9

1 to 2 ................................................................................................. 23.1 2.6 2.8 2.8 3.0 .1 2.9

2 to 5 .............................................................................................. 32.3 8.1 8.8 8.0 10.4 .5 8.8

5 to 10.............................................................................................. 15.1 8.1 8.9 7.8 11.4 .8 8.9

10 to 25............................................................................................ 8.8 10.5 11.4 9.9 14.7 2.2 10.4

25 to 50............................................................................................ 2.8 7.4 7.7 7.2 8.9 3.2 7.7

50 to 100.......................................................................................... 1.4 7.6 7.6 7.5 7.7 7.0 8.4

100 to 250........................................................................................ .9 10.7 10.2 10.6 9.4 13.5 11.8

250 to 500........................................................................................ .4 9.8 9.2 9.9 7.7 13.8 11.3

500 to 1,000.................................................................................... .2 9.0 8.7 9.5 7.0 13.7 7.5

More than 1,000. .......................................................................... .1 25.4 23.8 25.9 19.0 45.2 21.4

Number or amount (in millions), all insured commercial

banks4............................................................................................... 13,400 $172,458 $139,351 $96,239 $43,112 $15,056 $18,051

1 Demand deposits of individuals, partnerships, and corporations, plus certified and officers’ checks, cash letters of credit and travelers’ checks outstanding, and amounts

due to Federal Reserve banks.

2 Includes postal savings deposits.

* Less than .05 percent.

4 The amounts held by banks in each of the size groups are shown in Table 108, pp. 134-35.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES HELD BY VARIOUS SIZE GROUPS 67

may be seen that banks with deposits of up to $50 million reported 

ownership of two-thirds of the total balances with other banks, while 

these same banks had deposit liabilities to other banks equal to less than 

one-tenth of the total for the entire system. At the same time the banks 

with deposits of more than $1 billion held less than 3 percent of the 

deposit claims against other banks, but had interbank deposit liabilities 

constituting more than 45 percent of all such deposits in the system.

Chart M. P e r c e n t a g e D is t r ib u t io n s o f I n s u r e d C o m m e r c ia l B a n k s a n d

o f T h e ir A g g r e g a t e D e p o s it I t e m s A m o n g Siz e G r o u p s, J u n e 30, 1954

BANKS WITH DEPOSITS O F : I 

(In millions of dollors)

BANKS

TO TAL DEPOSITS

BUSINESS AND PERSONAL 

DEPOSITS

BUSINESS ANO PERSONAL 

DEMAND DEPOSITS

BUSINESS AND PERSONAL 

TIME & SAVINGS DEPOSITS

INTERBANK DEPOSITS 

GOVERNMENT DEPOSITS

J 2 or l«ti { S ^ IOto 50 f - ^ 250 to 1,000

1 2 to 10 V '/ 'i 50 to250 E23Mort thon 1,000

'///////////T’/.V"

"“"'■AY//!’/''

Chart N. P e r c e n t a g e D is t r ib u t io n s o f B a l a n c e s w it h O t h e r B a n k s

a n d o f I n t e r b a n k D e p o s it L ia b il it ie s A m o n g Siz e G r o u p s o f

I n s u r e d C o m m e r c ia l B a n k s , J u n e 30, 1954

6ANKS WITH OEPOSITS O F ‘ | 

(In million* of dollars) . 3 2 or I n i E & ^ IOtoSO f c i p 2S0to 1,000 

2 2 lo 10 C U D 90 to 250 fc& jM o r* thon ifiOO

BALANCES WITH OTHER BANKS IN TH E UNITED S T A T E S

INTERBANK DEPOSIT L IA B IL IT IE S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 4 0 . P e r c e n t a g e D is t r ib u t io n s o f A ssets W it h in Siz e G r o u p s of I n s u r e d C o m m e r c ia l B a n k s , Ju n e 30, 1954

Asset item

All

banks

Banks with deposits (in millions of dollars) of—

1 or

less 1 to 2 2 to 5 5 to 10 10 to

25

25 to

50

50 to

100

100 to

250

250 to

500

500 to

1,000

More

than

1,000

100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Cash and funds due from banks.................................... 21.9 21.9 20.6 20.2 19.8 19.5 20.6 21.8 23.5 24.1 24.1 22.1

Securities................................................................................... 41.2 38.7 41.3 44.2 45.4 45.6 44.2 41.9 41.6 38.6 39.1 37.9

U. S. Government obligations........................................... 33.2 33.8 35.2 35.8 36.0 36.5 35.5 33.5 34.5 32.7 30.0 29.8

6.2 3.4 4.5 6.6 7.5 7.1 6.9 6.2 5.3 4.7 6.9 6.1

1.8 1.5 1.6 1.8 1.9 2.0 1.8 2.2 1.8 1.2 2.2 2.0

Loans and discounts, n e t .................................................. 35.5 38.6 37.3 34.7 33.7 33.6 33.8 34.8 33.5 35.9 35.4 38.3

Valuation reserves..................................................................... .5 .2 .2 .3 .4 .5 .5 .5 .5 .5 .6 .7

Loans and discounts, gross............................................... 36.0 38.8 37.5 35.0 34.1 34.1 34.3 35.3 34.0 36.4 36.0 39.0

Commercial and industrial................................................. 13.8 3.0 4.0 5.0 6.4 7.9 10.2 12.9 13.3 16.9 18.8 21.2

Agricultural (excluding real estate)................................. 2.7 17.7 14.1 9.0 4.6 2.0 1.5 1.6 1.4 1.4 1.3 .9

For carrying securities......................................................... 1.9 .1 .1 .2 .3 .5 .7 .8 1.5 2.2 2.7 4.3

9.1 9.7 11.3 12.6 13.3 13.1 11.4 9.0 7.5 7.5 5.7 6.7

Other loans to individuals.................................................. 7.6 7.7 7.6 7.8 9.1 10.1 9.9 10.2 9.0 7.4 6.6 4.6

.9 .6 .4 .4 .4 .5 .6 .8 1.3 1.0 .9 1.3

1.4 .8 .8 .9 1.1 1.3 1.4 1.5 1.4 1.4 1.4 1.7

Number of banks........................................................................... 13,400 2,002 3,084 4,340 2,012 1,189 369 189 123 50 24 18

Amount of total assets (in millions)1....................................... $188,643 $1,558 $4,989 $15,158 $15,339 $19,609 $13,687 $14,209 $19,983 $18,317 $16,985 $48,809

1 Amounts of assets by type are shown in Table 108, pp. 132-33.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES HELD BY VARIOUS SIZE GROUPS 69

The demand component of business and personal deposits shows 

greater concentration than does the time and savings component. Fewer 

than one hundred banks, comprising less than 1 percent of all the banks, 

held nearly one-half of all business and personal demand deposits in 

insured commercial banks. These same banks held about one-third of all 

business and personal time and savings deposits.

A v e r a g e A s se t a n d L ia b il it y S t r u c t u r e s

o f B a n k s W it h in Siz e G ro u ps

In the previous section attention was directed to the distribution, 

among the various deposit size groups of banks, of the aggregate amounts 

of particular asset and liability items. In this section attention is directed 

to the relative importance of various asset and liability components 

among the total assets and liabilities of all banks within particular 

size groups.

Major asset items. Percentage distributions of the total assets held on 

June 30, 1954, by banks in each of the eleven deposit size groups are 

given in Table 40. Comparison of the percentages given for an item in the 

various columns of the table provides information as to the relative importance of that item to typical banks within the various size groups.

The data indicate that the major asset items constitute roughly 

similar shares of the total assets of the various size groups of banks. Thus 

cash and funds due from banks was in no group less than 19 percent 

nor as much as 25 percent of total assets, while securities ranged from 

38 to 46 percent of assets, and loans from 33 to 39 percent.

United States Government obligations are a moderately more important part of the asset structure of middle-sized banks than of banks 

at either end of the size scale. Obligations of States and political subdivisions are of least relative importance to the smallest banks, but do 

not vary in any simple manner with size of bank.

The greatest differences among the asset structures of banks in various 

size groups are found in the composition of their loans. Commercial and 

industrial loans constituted only 3 percent of assets for the smallest 

banks but 21 percent for the largest, varying directly with size of bank 

between these limits. Agricultural loans, by contrast, varied inversely 

with size of bank, from 18 percent of total assets for banks with deposits 

under $1 million, down to less than 1 percent for banks with deposits of 

more than $1 billion.

Real estate loans and “ other loans to individuals” did not vary as 

uniformly with size of bank as did other types of loans. Each of these 

categories of loans constituted in the neighborhood of a tenth of total 

assets of banks in most of the size groups.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b ic 41. P e r c e n t a g e D i s t r i b u t i o n s o f L o a n s a n d D is c o u n t s W i t h i n Si z e G r o u p s o f I n s u r e d C o m m e r c i a l B a n k s , J u n e 30, 1954 o

Banks with deposits (in millions of dollars) of—

Loan item All

banks 1 or

less 1 to 2 2 to 5 5 to 10 10 to

25

25 to

50

50 to

100

100 to

250

250 to

500

500 to

1,000

More

than

1,000

Loans and discounts, n e t....................................................... 98.5% 99.5% 99.4% 99.1% 98.8% 98.7% 98.5% 98.5% 98.5% 98.6% 98.5% 98.2%

Valuation reserves......................................................................... 1.5 .5 .6 .9 1.2 1.3 1.5 1.5 1.5 1.4 1.5 1.8

Loans and discounts, gross................................................... 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Commercial and industrial loans.................................. 38.3 7.6 10.8 14.3 18.8 23.2 29.6 36.5 39.2 46.6 52.3 54.4

Agricultural loans (excluding real estate)................. 7.5 45.7 37.6 25.6 13.5 6.0 4.4 4.6 4.0 3.9 3.6 2.3

Loans to farmers directly guaranteed by Commodity

Credit Corporation........................................................... 2.8 10.9 9.9 6.7 3.7 2.0 2.3 2.4 2.4 3.0 2.5 1.3

Other loans to farmers (excluding real estate)............. 4.7 34.8 27.7 18.9 9.8 4.0 2.1 2.2 1.6 .9 1.1 1.0

Loans for carrying securities........................................... 5.4 .3 .4 .6 .9 1.4 2.2 2.3 4.4 5.9 7.6 11.1

Loans to brokers and dealers in securities..................... 3.6 (0 .1 0) 0) .1 .7 .6 2.1 2.3 5.6 9.1

Other loans for carrying securities................................... 1.8 .3 .3 .6 .9 1.3 1.5 1.7 2.3 3.6 2.0 2.0

Real estate loans.................................................................... 25.2 25.1 30.0 36.0 38.8 38.3 33.2 25.4 22.1 20.6 15.9 17.1

On farm land......................................................................... 1.7 9.9 9.1 7.1 3.9 1.8 .9 .6 .4 .3 .3 .3

On residential properties:

Insured or guaranteed by FHA or V A ....................... 10.2 3.0 4.6 7.4 10.2 11.9 12.0 10.3 10.9 10.1 8.8 11.2

N ot insured or guaranteed by FHA or V A ............... 8.9 9.5 12.8 16.3 18.0 17.1 12.8 8.1 6.7 6.1 3.8 3.8

On other properties.............................................................. 4.4 2.7 3.5 5.2 6.7 7.5 7.5 6.4 4.1 4.1 3.0 1.8

Other loans to individuals................................................ 21.2 19.9 20.1 22.4 26.8 29.8 28.9 29.0 26.5 20.3 18.2 11.9

Retail automobile instalment paper................................ 6.4 6.8 6.9 7.6 9.1 10.1 9.6 8.2 6.9 5.1 6.4 3.1

Other retail instalment paper............................................ 2.9 2.0 2.3 2.9 3.6 3.6 3.5 3.4 3.8 3.0 2.6 1.9

Repair and modernization instalment loans................. 2.5 .2 .5 .9 1.9 3.5 3.0 4.1 3.3 3.1 2.4 1.9

Instalment cash loans.......................................................... 3.0 2.9 2.9 3.3 4.3 4.6 4.3 4.9 3.2 1.9 1.5 2.0

Single-payment loans........................................................... 6.4 8.0 7.5 7.7 7.9 8.0 8.5 8.4 9.3 7.2 5.3 3.0

Loans to banks......................................................................... .3 0) 0) 0) 0) 0) (9 .1 .2 .1 .1 .7

All other loans.......................................................................... 2.1 1.4 1.1 1.1 1.2 1.3 1.7 2.1 3.6 2.6 2.3 2.5

Number of banks.......................................................................... 13,400 2,002 3,084 4,340 2,012 1,189 369 189 123 50 24 18

Amount of total gross loans (in millions)2.............................. $68,002 $605 $1,872 $5,308 $5,229 $6,680 $4,700 $5,023 $6,782 $6,670 $6,109 $19,024

1 Less than .05 percent.

2 Amounts of loans by type are shown in Table 108, pp. 132-38.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSET AND LIABILITY STRUCTURES WITHIN SIZE GROUPS 71

Loans by type. Ratios of various major loan components to total 

loans vary with size of bank in much the same manner as do ratios of those 

loan components to total assets. Thus we can observe in Table 41 and in 

Chart O, moving from smallest to largest banks, that there are (with 

minor exceptions): successively larger shares of total loans represented 

by commercial and industrial loans and loans for carrying securities; 

successively smaller shares of total loans represented by agricultural 

loans; and at first larger, and then smaller, shares of total loans represented by real estate loans and by “ other loans to individuals.”

C h a r t O. P e r c e n t a g e D is t r ib u t io n s of L o a n s a n d D is c o u n t s W it h in

Siz e G r o u p s o f I n s u r e d C o m m e r c ia l B a n k s , Ju n e 30, 1954

T Y P E O F LOANt I

8 COMMERCIAL AND INDUSTRIAL ^ ^ AGRICULTURAL. EESSfOR CARRYING SECURITIES 

L — I REAL E STATE [Z IJ o T H E R LOANS TO INDIVIDUALS E 2 A LL OTHER

ALL BANKS

BANKS WITH

DEPOSITS OF:

$2 ,000,000 

or less

10.000,000

to

50.000.000

50.000.000 

to

250.000.000

250.000.000 

1,000.000,000

Mora than

1,000,000.000

Most of the more detailed loan components vary in relative importance 

to banks of various sizes in much the same manner as do the above 

discussed major loan components of which they are a part. The degree of 

variation may be more or less pronounced but the pattern of variation 

is usually the same. However, two exceptions to this general rule may be 

noted. First, the importance of all loans to farmers varies inversely with 

size of bank, but the loans to farmers directly guaranteed by the Commodity Credit Corporation constitute a larger share of total loans in 

several of the higher deposit groups than in banks with somewhat smaller 

deposits. Second, residential mortgages are about equally important in 

the loan portfolios of the largest and smallest banks, but the mortgage

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 42. P e r c e n t a g e D is t r ib u t io n s o f U n ite d S ta t e s G o v e r n m e n t O b lig a tio n s W it h in Size G ro u p s o f

In su re d C om m ercial B a n k s, J u n e 30, 1954

Banks with deposits (in millions of dollars) of—

U. S. Government obligation item

All

banks 1 or

less 1 to 2 2 to 5 5 to 10 10 to

25

25 to

50

50 to

100

100 to

250

250 to

500

500 to

1,000

More

than

1,000

United States Government obligations.......................... 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Direct obligations:

Total bills, notes, certificates, and nonmarketable bonds.................................................................... 39.7 52.6 53.1 50.3 45.6 40.6 38.4 38.1 38.0 35.9 35.6 36.1

Treasury bills..................................................................... 7.3 7.8 7.5 8.0 7.3 6.3 6.7 6.5 7.3 6.7 7.6 8.2

Treasury certificates of indebtedness.......................... 8.8 13.1 11.9 11.3 10.6 9.3 8.9 8.1 8.0 8.5 5.8 8.3

Treasury notes................................................................... 19.6 18.1 19.0 18.6 19.0 19.1 19.3 21.5 20.8 19.7 21.6 18.6

United States nonmarketable bonds........................... 4.0 13.6 14.7 12.4 8.7 5.9 3.5 2.0 1.9 1.0 .6 1.0

Marketable bonds maturing in 5 years or less... 21.6 25.9 24.1 23.1 22.7 23.1 23.5 21.1 21.7 21.7 20.2 19.1

Marketable bonds maturing after 5 years............. 38.6 21.5 22.8 26.6 31.7 36.3 38.1 40.8 40.3 42.4 44.0 44.7

Marketable bonds maturing in 5 to 10 years........... 30.6 14.6 16.4 20.0 24.4 27.9 30.8 33.5 31.4 33.1 35.2 36.7

Marketable bonds maturing in 10 to 20 years......... 7.9 6.7 6.2 6.4 7.2 8.3 7.2 7.2 8.7 9.2 8.8 7.8

Marketable bonds maturing after 20 years............... .1 .2 .2 .2 .1 .1 .1 .1 .2 .1 0) .2

Guaranteed obligations (FHA debentures)............... .1 0) 0) 0) 0) o 0) 0) (0 0) .2 .1

Number of banks........................................................................... 13,400 2,002 3,084 4,340 2,012 1,189 369 189 123 50 24 18

Amount of total United States Government obligations

(in millions)2........................................................................... $62,561 $528 $1,756 $5,431 $5,525 $7,162 $4,853 $4,760 $6,903 $5,990 $5,095 $14,558

1 Less than .05 percent.

2 Amounts of United States Government obligations by type are shown in Table 108, pp. 132-32.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSET AND LIABILITY STRUCTURES WITHIN SIZE GROUPS 73

paper held by the largest banks is predominantly insured or guaranteed 

while that held by the smallest banks is predominantly conventional.

United States Government obligations by type. Percentage distributions of United States Government obligations held by banks in 

each size group on June 30, 1954, are given in Table 42.

Nonmarketable bonds constituted a much more important part of the 

United States Government obligation holdings of small banks than of 

large. There was also a less marked, but nevertheless clear, inverse relationship between size of bank and relative importance of Treasury 

certificates of indebtedness. Because of these two categories the proportion of total United States Government obligations represented by 

bills, certificates, notes, and nonmarketable bonds varied from a high 

of 53 percent for the two lowest deposit groups to a low of 36 percent for 

the three highest deposit groups. Marketable bonds within five years of 

their maturity were also in general a more important part of the portfolio for smaller than for larger banks. As would follow, the share of total 

holdings composed of bonds maturing after five years varied directly 

with size of bank, being 22 percent for the smallest banks and 45 percent 

for the largest.

Deposits by type. Government deposits, including postal savings 

deposits and deposits of States and political subdivisions, were on June 

30, 1954, between 8 percent and 12 percent of the total deposits of banks 

in each size group. The share of total deposits represented by deposits of 

other banks was directly related to size of bank, ranging from 0.3 percent 

in banks with deposits of $2 million or less up to 15.5 percent in banks with 

deposits of more than $1 billion. The major component of deposits is 

business and personal deposits. These constituted a smaller share of 

total deposits in large than in smaller banks. The relevant distributions 

of total deposits are included in Table 43, which also gives distributions 

of total liabilities and capital accounts.

Although differences among size groups are not striking, it is the middlesized banks which have the smallest share of deposits in demand form. 

Demand deposits constitute just over three-fourths of the total deposits 

of both the largest and the smallest banks, but a little less than two-thirds 

of those of banks with deposits of $2 million to $25 million. The same 

relationship exists between size of bank and the share of total business 

and personal deposits which are in demand form. Conversely, time and 

savings deposits constitute a moderately larger proportion of total 

deposits in middle-sized banks than in either the largest or the smallest 

banks.

Average capital ratios. Capital ratios on June 30, 1954, of banks 

grouped by amount of deposits are given in Table 43 and illustrated in 

Chart P.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 4 3 . P e r c e n t a g e D is t r ib u t io n s of T o ta l L ia b il it ie s a n d C a p it a l A c co u n t s a n d o f D e p o sit s W it h in

Size G ro u p s o f In su re d C o m m ercial B a n k s, J u n e 30, 1954

Banks with deposits (in millions of dollars) of—

Liability, deposit, or capital item All

banks 1 or

less 1 to 2 2 to 5 5 to 10 10 to

25

25 to

50

50 to

100

100 to

250

250 to

500

500 to

1,000

More

than

1,000

Total liabilities and capital accounts (equal to total

assets)................................................................................. 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Deposits....................................................................................... 91.4 88.2 90.4 91.5 92.1 92.3 92.4 92.3 92.3 92.3 91.6 89,8

Other liabilities.......................................................................... 1.3 .3 .3 .4 .5 .8 .9 1.1 1.0 1.1 1.1 2.6

Capital accounts........................................................................ 7.3 11.5 9.3 8.1 7.4 6.9 6.7 6.6 6.7 6.6 7.3 7.6

Total deposits.............................................................................. 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

All demand deposits................................................................... 72.6 75.S 70.1 66.5 63.7 63.1 67.8 72.6 76.3 78.5 79.2 76.7

All time and savings deposits.................................................. &7.U 2U.7 29.9 S3.5 36.3 36.9 32.2 27,U 23.7 21.5 20.8 23.3

Business and personal deposits, total.................................. 80.8 88.0 88.3 88.1 87.8 87.7 85.2 80.4 77.4 75.7 78.0 75.7

Demand deposits1................................................................... 55.8 6 k.2 59.k 55.7 53.0 52.6 5U.9 55.2 55.3 56.2 58.7 57.0

Time and savings deposits................................................... 25.0 28.8 28.9 32.k 3k..8 35.1 30.3 25.2 22.1 19.5 19.3 18.7

Government deposits...............................................................

Interbank deposits....................................................................

10.5 11.7 11.4 11.4 11.3 10.4 11.0 11.6 11.6 12.0 8.7 8.8

8.7 .3 .3 .5 .9 1.9 3.8 8.0 11.0 12.3 13.3 15.5

Number of banks........................................................................... 13,400 2,002 3,084 4,340 2,012 1,189 369 189 123 50 24 18

Amount of total liabilities and capital

accounts (in millions)2......................................................... $188,643 $1,558 $4,989 $15,158 $15,339 $19,609 $13,687 $14,209 $19,983 $18,317 $48,809 $16,985

Amount of total deposits (in millions)2................................... 172,458 1,374 4,510 13,873 14,120 18,105 12,652 13,120 18,435 16,903 15,555 43,811

1 Demand deposits of individuals, partnerships, and corporations, plus certified and officers' checks, cash letters of credit and travelers' checks outstanding, and amounts

due to Federal Reserve banka.

2 Amounts of liabilities and capital by type are shown in Table 108, pp. 134-35.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSET AND LIABILITY STRUCTURES WITHIN SIZE GROUPS 75

The average ratio of capital accounts to total assets is highest, 11.5 

percent, for banks with deposits of $1 million or less. One factor contributing to the relatively high average capital ratio for the banks in the 

smallest size group is that this group contains several trust companies 

which do relatively little deposit business. Nevertheless, from the smallest 

banks to those with deposits up to $50 million there is a clear inverse 

relationship between amount of deposits and capital ratio. The average 

capital ratio is lowest, at 6.6 or 6.7 percent, for the groups of banks with 

deposits from $25 million to $500 million.

C h a r t P . A v e r a g e C a p i t a l R a t i o s o f I n s u r e d C o m m e r c i a l B a n k s ,

W i t h i n S iz e G r o u p s , J u n e 30, 1954

ALL

BANKS WITH

DEPOSITS OF*

$2,000,000

or less

2, 000,000

10,000,000 

10,000,000

50.000.000

50.000.000

250.000.000

250.000.000 

1,000,000,000 

More than

1,000,000,000

Nondeposit liabilities. The proportion of total liabilities and capital 

represented by nondeposit liabilities varies directly with size of bank, 

from 0.3 percent for the smallest banks to 2.6 percent for the largest.

D is t r ib u t io n s o f B a n k s A cco r d in g to t h e ir I n d iv id u a l

A s se t a n d L ia b il it y R a t io s

Analysis of the assets and liabilities of banks by size groups, as in the 

preceding tables, does not show the extent to which individual banks 

vary as compared to one another, either within or among the size groups. 

The extent of such variations is explored here by the use of distributions 

of banks according to their individual asset and liability ratios.

Ratios of government obligations to total assets. Distributions 

of insured commercial banks within each of six deposit size groups acDigitized for FRASER 

http://fraser.stlouisfed.org/ 

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

cording to their individual ratios of United States Government obligations 

to total assets on June 30, 1954, are given in Table 44. The table also gives 

an all-bank distribution, which is of course a summation of the separate 

distributions by size groups.

T a b le 4 4 . D is t r ib u t io n s o f I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G r o u p s

A c co r d in g to t h e ir I n d iv id u a l R a t io s o f U n it e d S t a t e s G o v e r n m e n t

O b l ig a t io n s to T o t a l A s s e t s, J u n e 30, 1954

Item All

banks

Banks with deposits (in millions of dollars) of—

2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks............. 13,400 5,086 6,352 1,558 312 74 18

Number with ratios of U. S.

Government obligations to

total assets of—

0 .0 % — 9 .9 % ........................ 323 223 90 10

10.0 — 19.9 ........................ 1,214 597 511 85 14 7

20.0 — 29.9 ........................ 3,018 1,123 1,418 344 94 30 9

30.0 — 39.9 ........................ 4,139 1,377 2,030 578 125 23 6

40.0 — 49.9 ........................ 3,013 1,061 1,499 384 57 10 2

50.0 — 59.9 ........................ 1,288 524 627 119 14 3 1

60.0 — 69.9 ........................ 339 155 148 28 7 1

70.0 — 79.9 ........................ 63 24 28 10 1

80.0 — 89.9 ........................ 2 1 1

90.0 — 100.0 ........................ 1 1

Lowest ratio for any bank............. .0% .0% .0% 2.9% 11.8% 14.4% 22.5%

Highest ratio for any bank............ 94.6 94.6 81.2 77.6 71.0 63.7 50.1

There are a few banks which hold very small amounts of United States 

Government obligations, and one which at mid-1954 held 95 percent of 

its assets in this form. These extreme cases were small banks. In each of 

the size groups except the upper two more banks had ratios in the 30 to 

40 percent interval than in any other. Nearly a third of all the banks 

were in that interval, and about equal numbers of banks had ratios above 

40 percent and below 30 percent.

Distributions based on ratios of obligations of States and political 

subdivisions to total assets, shown in Table 45, reveal that the great 

majority of individual banks have less than one-tenth of their assets in 

this form. Many banks held no obligations of States or political subdivisions at mid-1954, and such obligations were less than 5 percent of 

total assets in about half of the banks in each size group. With one 

negligible exception, intervals representing successively higher ratios 

contain successively smaller numbers of banks.

Ratios of total loans to total assets. Distributions based on ratios 

of total loans and discounts, net of valuation reserves, to total assets are 

given in Table 46. These bear much similarity to those based on ratios of 

United States Government obligations to total assets. Again, the range 

of individual ratios is from zero to more than 90 percent; in each size

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DISTRIBUTIONS OF BANKS ACCORDING TO INDIVIDUAL RATIOS 77

group, except that of the largest banks, the 30 to 40 percent interval contains more banks than any other; and there are fairly equal numbers of 

banks with ratios above and below that interval.

Table 45. D is t r ib u t io n s o f I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G ro u ps

A c c o r d in g to t h e ir I n d iv id u a l R a t io s o f O b l ig a t io n s o f St a t e s a n d

P o l it ic a l S u b d iv is io n s to T o t a l A sse ts, Ju n e 30, 1954

Item All

banks

Banks with deposits (in millions of dollars) of—

2 or 2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks.........

Number with ratios of obligations

of States and subdivisions to

total assets of—

Zero.............................................

Above zero to 4 .9 % ................

5 .0 % — 9 .9 % ......................

10.0 — 14.9 ......................

15.0 — 19.9 ......................

20.0 — 24.9 ......................

25.0 — 29.9 ......................

30.0 — 34.9 ......................

35.0 — 39.9 ......................

40.0 — 44.9 ......................

45.0 — 49.9 ......................

50 or more.................................

Lowest ratio for any bank.........

Highest ratio for any bank. . . .

13,400

1,625

5,861

3,288

1,547

664

268

89

39

13

3

1

2

53.0

5,086

1,162

2,497

820

322

158

75

28

15

4

2

1

2

53.0

6,352

390

2,602

1,801

910

412

156

55

19

7

39.0

1,558

58

577

523

271

82

33

6

5

2

1

44.3

312

13

139

111

33

12

4

.0%

24.5

74

2

37

26

9

12.0

18

12.0

Table 46. D is t r ib u t io n s o f I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G r o u p s

A c c o r d in g to t h e ir I n d iv id u a l R a t io s of N e t L o a n s a n d D is c o u n t s

to T o t a l A s se ts, Ju n e 30, 1954

Item

Banks with deposits (in millions of dollars) of—

All

banks 2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

13,400 5,086 6,352 1,558 312 74 18

132 46 64 19 3

1,074 346 567 137 21 3

3,086

4,395

3,236

1,128

263

982

1,496

1,382

596

1,600

2,173

1,414

438

401

571

338

78

84

121

69

13

16

28

24

3

3

6

9

174 77 11 1

74 54 17 3

11 9 2

1 1

.0%

90.6

.0%

90.6

1.9%

81.3

0)

78.2%

5.0%

68.8

12.4%

54.4

24.3%

48.1

Total number of banks.

Number with ratios of loans to

total assets of—

0.0% — 9.9% .

10.0 — 19.9 ,

20.0 — 29.9

30.0 — 39.9

40.0 — 49.9. . .

50.0 — 59.9 ,

60.0 — 69.9 .

70.0 — 79.9

80.0 — 89.9 .

90.0 — 100.0 .

Lowest ratio for any bank..

Highest ratio for any bank.

1 Less than .05 percent.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Ratios of various types of loans to total assets. Distributions 

based on ratios of certain categories of loans to total assets show considerable divergence between one size group of banks and another. 

Commercial and industrial loans, as earlier observed, play a more important role in the asset portfolios of large banks than of small. There are 

nevertheless a number of small banks which have larger shares of their 

assets in this form than some large banks. Distributions of the banks 

based on their ratios of commercial and industrial loans to total assets 

are given in Table 47.

T a b le 4 7 . D is t r ib u t io n s of I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G r o u p s

A cco r d in g to T h e ir I n d iv id u a l R a t io s of G ross C o m m e r c ia l a n d

I n d u s t r ia l L o a n s to T o t a l A ss e t s, J u n e 30, 1954

Banks with deposits (in millions of dollars) of—

Item All

banks 2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks............. 13,400 5,086 6,352 1,558 312 74 18

Number with ratios of commercial

and industrial loans to total

assets of—

Zero................................................. 1,773

6,226

3,422

1,206

458

1,303

2,517

860

445 23 1 1

Above zero to 4 .9 % .................... 3,175

1,905

562

497 35 2

5 .0 % — 9 .9 % .......................... 568 81 7 1

10.0 — 14.9 .......................... 263 267 93 17 4

15.0 — 19.9 .......................... 81 162 127 61 26 1

20.0 — 24.9 .......................... 185 33 64 48 23 11 6

25.0 — 29.9 .......................... 77 16 25 15 10 7 4

30.0 — 34.9 .......................... 36 9 11 7 6 1 2

35.0 — 39.9 .......................... 11 4 2 3 1 1

40.0 — 44.9 .......................... 4 2 1 1

45.0 — 49.9.............................. 2 1 1

50 or more.....................................

Lowest ratio for any bank............. •0% .0% .0%

45.5

.0% .0%

40.1

.0% 9.2%

Highest ratio for any bank............ 49.2 39.8 49.2 43.7 34.8

Distributions based on ratios of agricultural loans to total assets are 

shown in Table 48. All of the banks with deposits of more than $1 billion 

had less than 5 percent of their assets in the form of agricultural loans; 

and for other deposit size groups, except the smallest, there was a concentration of ratios in this interval. But among banks with deposits of 

$2 million or less there was a very great degree of bank-to-bank variation 

in the share of assets represented by agricultural loans. In that group, 

and also in the $2 million to $10 million group, there were one or more 

banks with more than three-fourths of their assets in agricultural loans; 

and all of the 527 banks which had 40 percent or more of their total assets 

in this form were in these two deposit groups.

Table 49 gives distributions based on the ratio of real estate loans, excluding loans on farm land, to total assets. In most of the size groups 

one-third or more of the banks had less than 5 percent of their assets in 

real estate loans. Relatively more of the middle-sized banks with deposits

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DISTRIBUTIONS OF BANKS ACCORDING TO INDIVIDUAL RATIOS 79

of $10 million to $50 million had ratios in the 5 to 15 percent intervals 

than was the case with other size groups, indicating a generally greater 

importance of this category of loans in the asset portfolios of middlesized than of other banks. There were 44 banks which had 40 percent or 

more of their total assets in nonfarm real estate loans.

Table 48. D is tr ib u tio n s o f In su r e d C o m m erc ia l B a n k s W it h in Size G ro u p s

A c c o r d in g t o t h e i r In d iv id u a l R a tio s o f G r o ss A g r i c u l t u r a l L o a n s

(In c lu d in g L o a n s on F arm L an d ) t o T o t a l A s s e ts , J u n e 30, 1954

Banks with deposits (in millions of dollars) of—

Item All

banks 2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks............. 13,400 5,086 6,352 1,558 312 74 18

Number with ratios of agricultural

loans to total assets of—

Zero................................................. 767 118 338 254 55 2

Above zero to 4.9% .................... 4,078

2,251

1,767

1,346

1,061

722

593 2,134

1,360

920

1,038

164

229 66 18

5 .0 % — 9 .9 % .......................... 699 22 6

10.0 — 14.9 .......................... 785 58 4

15.0 — 19.9 .......................... 701 621 23 1

20.0 — 24.9 .......................... 634 412 14 1

25.0 — 29.9 .......................... 489 229 4

30.0 — 34.9 .......................... 522 364 156 2

35.0 — 39.9 .......................... 359 269 89 1

40.0 — 44.9 .......................... 216 168 48

45.0 — 49.9 .......................... 144 122 22

50 or more..................................... 167 144 23

Lowest ratio for any bank.............

Highest ratio for any bank............

.0%

79.1

.0%

79.1

.0%

78.4

.0%

39.4

.0%

24.9

•0%

8.4

.1%

2.5

Table 49. D is t r ib u t io n s of I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G ro u ps

a c c o r d in g to t h e ir I n d iv id u a l R a t io s of G ross R e a l E st a t e L o a n s

(E x c l u d in g L o a n s o n F a r m L a n d ) to T o t a l A ss e t s, J u n e 30, 1954

Item All

banks

Banks with deposits (in millions of dollars) of—-

2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks............. 13,400 5,086 6,352 1,558 312 74 18

Number with ratios of real estate

loans to total assets of—

Zero................................................. 268 199 61 5 2 1

Above zero to 4 .9 % .................... 4,802 2,441 1,871 311 132 35 12

5 .0 % — 9 .9 % .......................... 3,234 1,193 1,587 364 67 20 3

10.0 — 14.9 .......................... 2,217 616 1,170 360 58 12 1

15.0 — 19.9.............................. 1,512 353 832 288 35 4

20.0 — 24.9 .......................... 790 171 473 133 11 2

25.0 — 29.9 .......................... 357 66 223 64 4

30.0 — 34.9 .......................... 124 26 79 19

35.0 — 39.9 .......................... 52 8 33 8 2 1

40.0 — 44.9 .......................... 19 4 11 3 1

45.0 — 49.9 .......................... 11 2 6 2 1

50 or more..................................... 14 7 6 I

Lowest ratio for any bank............. .0% •0% •0% .0% •0% .0% 0) Highest ratio for any bank............ 84.8 84.8 70.4 59.2 44.8 46.6 | 23.1%

1 Less than .05 percent.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
8 0 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 50. D is t r ib u t io n s o f I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G r o u p s

A cco r d in g to t h e ir I n d iv id u a l R a t io s of G ross O t h e r I n s t a l m e n t L o a n s to

I n d iv id u a l s to T o t a l A s se ts, J u n e 30, 1954

Banks with deposits (in millions of dollars) of—

Item All

banks 2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks............. 13,400 5,086 6,352 1,558 312 74 18

Number with ratios of other instalment loans to individuals

to total assets of—

Zero................................................. 603 412 173 14 4

Above zero to 4 .9 % .................... 7,565

3,339

1,147

427

3,061

1,076

309

3,610

1,661

572

691 146 43 14

5 .0 % — 9 .9 % .......................... 477 98 23 4

10.0 — 14.9 .......................... 219 40 7

15.0 — 19.9 .......................... 134 193 83 16 1

20.0 — 24.9 .......................... 148 39 73 34 2

25.0 — 29.9 .......................... 57 12 26 15 4

30.0 — 34.9 .......................... 42 9 18 14 1

35.0 — 39.9 .......................... 14 4 9 1

40.0 — 44.9 .......................... 10 2 5 3

45.0 — 49.9 .......................... 14 7 5 2

50 or more..................................... 34 21 7 5 1

Lowest ratio for any bank............. .0% .0%

93.0

.0% .0% .0% 0)

19.6%

.1%

Highest ratio for any bank............ 93.0 80.8 76.0 51.5 7.4

1 Less than .05 percent.

“ Other loans to individuals” are loans to individuals other than those 

made for business or agricultural purposes, for carrying securities, or 

upon real estate. The instalment portion of such loans, taken as a percentage of total assets, is the basis of distributions shown in Table 50.

Table 51. D is t r ib u t io n s of I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G r o u p s

A c co r d in g to t h e ir I n d iv id u a l R a t io s o f B u s in e s s a n d P e r s o n a l D e p o sit s

to T o t a l D e p o s it s, J u n e 30, 1954

Item All

banks

Banks with deposits (in millions of dollars) of—

2 or

less

2 to

10

10 to

50

50 to

250

!

250 to

1,000

More

than

1,000

5,086 6,352 1,558 312 74 18

3

1

1 1 1

1 4 3

6 8 7 8

21 24 20 19 3

110 129 52 42 16 4

544 567 141 60 23 8

1,947 2,654 646 102 25 5

2,454 2,966 688 79 6 1

.0% 32.5% 22.5% 19.8% 29.2% 63.9%

100.0 100.0 100.0 100.0 95.3 92.3

Total number of banks.........

Number with ratios of business

and personal deposits to total

deposits of—

0.0% — 9.9%

10.0 — 19.9

20.0 — 29.9

30.0 — 39.9

40.0 — 49.9

50.0 — 59.9

60.0 — 69.9

70.0 — 79.9

80.0 — 89.9

90.0 — 100.0

Lowest ratio for any bank. .

Highest ratio for any bank.

13,400

3

1

3

8

29

87

353

1,343

5,379

6,194

100.0

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DISTRIBUTIONS OF BANKS ACCORDING TO INDIVIDUAL RATIOS 81

Banks with ratios of less than 5 percent are shown to have constituted, 

on June 30, 1954, a majority of the banks in most of the size groups. 

Thirty-four banks had more than half of their assets in this form, including a few with ratios as high as 80 or 90 percent.

Ratios of deposit items to total deposits. Business and personal 

deposits make up the major portion of the total deposits of most banks. 

Accordingly in the distributions of banks based upon the ratio of such 

deposits to total deposits, given in Table 51, the largest numbers of 

banks appear in the higher ratio intervals. For groups of banks with 

deposits of $50 million or less the largest numbers of banks were in the 

90 to 100 percent interval. Relatively more of the larger banks had ratios 

below 90 percent, reflecting a greater importance of interbank deposits.

Table 51 also shows, indirectly, distributions according to the ratio 

of government plus interbank deposits to total deposits. Since total deposits are made up of government, interbank, and business and personal 

deposits, a bank which has 90 percent of its deposits in business and personal accounts necessarily has 10 percent in the form of interbank and 

government deposits. Likewise the 6,194 banks with ratios of 90 to 100 

percent in this table would appear in a zero to 10 percent category in a distribution based on combined interbank and government deposits.

Distributions based on the ratios to total deposits of government 

deposits taken separately and of interbank deposits taken separately, 

which cannot be derived from the preceding table, are shown in Tables 

52 and 53. As previously noted, government deposits are more evenly 

distributed among large and small banks than are interbank deposits. 

In distributions based on ratios of government deposits to total deposits 

more banks in each size group are in the 5 to 10 percent interval than in 

any other. There were relatively few banks with no government deposits 

whatever; and, considering the total number of banks in each group, 

extraordinarily high ratios appear to be about as likely among smaller 

as among larger banks.

By contrast, in distributions of the banks according to their ratios of 

interbank deposits to total deposits the vast majority of individual banks 

in the size groups having deposits up to $10 million had zero ratios. 

However, there was a relatively wide range of ratios in each size group. 

In five banks, 40 percent or more of the deposits were interbank, and in 

one of these the figure was 72 percent.

Total deposits may also be divided into demand deposits on the one 

hand and time and savings deposits on the other. Distributions based 

on the ratio to total deposits of either of these components may be readily 

converted into distributions based upon the ratio to total deposits of the 

other. Distributions based on the ratio of demand deposits to total deDigitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
8 2 FEDERAL DEPOSIT INSURANCE CORPORATION

posits are shown in Table 54. The degree of bank-to-bank variation 

within each of the size groups is very great. This variation is shown not 

only by the extreme differences between the lowest and highest ratios in 

each distribution, but also by the fact that in each distribution there are 

many banks outside the interval with the largest number of banks.

T a b le 52. D is t r ib u t io n s of I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G ro u ps

A cco r d in g to t h e ir I n d iv id u a l R a t io s o f G o v e r n m e n t a n d P o sta l Sa v in g s

D e p o sit s to T o t a l D e p o s it s, Ju n e 30, 1954

Banks with deposits (in millions of dollars) of—

Item All

banks 2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks............. 13,400 5,086 6,352 1,558 312 74 18

Number with ratios of government and postal savings deposits to total deposits of—

Zero................................................. 69 57 10 2

Above zero to 4 .9 % .................... 2,014

4,649

3,515

1,754

743

824 893 251 41 5

5 .0 % — 9 .9 % .......................... 1,626

1,281

653

2,230

1,704

908

630 111 36 16

10.0 — 14.9 .......................... 412 93 23 2

15.0 — 19.9 .......................... 145 42 6

20.0 — 24.9 .......................... 342 343 47 9 2

25.0 — 29.9 .......................... 356 179 137 31 8 1

30.0 — 34.9 ........................ 162 72 70 17 3

35.0 — 39.9 .......................... 70 31 32 7

40.0 — 44.9 ........................ 32 13 12 5 2

45.0 — 49.9 ...................... 13 3 4 5 1

50 or more..................................... 23 5 9 6 2 1

Lowest ratio for any bank............. .0% .0%

64.4

•0%

67.5

.0%

75.9

0)

50.4%

2.8%

69.4

5.2%

12.1

I

Highest ratio for any bank........... 75.9

1 Less than .05 percent.

T a b le 5 3. D is t r ib u t io n s of I n s u r e d C o m m e r c ia l B a n k s W it h in Siz e G ro u ps

A c co r d in g to t h e ir I n d iv id u a l R a t io s o f I n t e r b a n k D e p o sit s T o

T o t a l D e p o s it s, Ju n e 30, 1954

Banks with deposits (in millions of dollars) of—

Item All

banks 2 or

less

2 to

10

10 to

50

50 to

250

250 to

1,000

More

than

1,000

Total number of banks............. 13,400 5,086 6,352 1,558 312 74 18

Number with ratios of interbank

deposits to total deposits of—

Zero .............................................. 9,487

3,253

335

4,556 4,407

1,765

511 13

Above zero to 4 .9 % .................... 451 858 154 21 4

5 .0 % — 9 .9 % .......................... 49 134 97 40 13 2

10.0 — 14.9 .......................... 130 18 28 44 29 10 1

15.0 — 19.9 .......................... 83 6 8 20 27 18 4

20.0 — 24.9 .......................... 49 3 3 10 24 5 4

25.0 — 29.9 .......................... 31 2 2 10 12 2 3

30.0 — 34.9 .......................... 15 3 4 5 3

35.0 — 39.9 . ............. 12 1 1 3 5 2

40 or more . . . . . 5 1 1 3

Lowest ratio for any bank............. •0% .0% .0% •0% .0% .5% 1.7%

Highest ratio for any bank............ 71.9 36.5 55.0 49.3 71.9 38.7 25.2

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DISTRIBUTIONS OF BANKS ACCORDING TO INDIVIDUAL RATIOS 8 3

Table 54. D is t r ib u t io n s o f In su r e d C o m m ercia l B a n k s W ith in Size G ro u p s

A cco r d in g to t h e ir I n d iv id u a l R a t io s of T o t a l D e m a n d D e p o sit s

to T o t a l D e p o s it s, J u n e 30, 1954

Item All

banks

Banks with deposits (in millions of dollars) of—

2 or

less

2 to 10 10 to

50

50 to

250

250 to 1,000

More

than 1,000

Total number of banks.

Number with ratios of demand deposits to total deposits of—

0 .0 % — 9 .9 % ........................

10.0 — 19.9 .....................

20.0 — 29.9 .....................

30.0 — 39.9 .....................

40.0 — 49.9 .....................

50.0 — 59.9 .....................

60.0 — 69.9 .....................

70.0 — 79.9 .....................

80.0 — 89.9 .....................

90.0 — 100.0 .....................

Lowest ratio for any bank........

Highest ratio for any bank. . . .

13,400

37 211

792

1,609

2,059

2,069

2,157

1,948

2,452

100.0

5,086

351066

284

485

618

602

759

844

1,383

.0? 100.0

6,352

21

24

129

434

898

1,059

1,078

987

809

913

100.0

1,558

3

15

70

198

336

335

318

191

84

.0% 100.0

312

1

4

25

41

43

72

69

56

5.4% 100.0

74

1

4

10

19

2712

6.62

98.2

18

2

1

1

2

8

4

48.32

92.9

Table 55. D is tr ib u tio n s o f In su r e d C o m m erc ia l B a n k s W ith in Size G ro u p s

A c c o r d in g t o t h e i r In d iv id u a l R a tio s o f C a p ita l t o T o t a l A s s e ts , J u n e 30, 1954

Item All

banks

Banks with deposits (in millions of dollars) of—

2 or 2 to 10 10 to

50

50 to

250

250 to 1,000

More

than 1,000

Total number of banks.........

Number with ratios of capital to

total assets of—

13,400 5,086 6,352 1,558 312

1.0% — 1 .9 % ..........................

2.0 — 2.9 ..........................

3.0 — 3.9 ..........................

4.0 — 4.9 ..........................

5.0 — 5.9 ..........................

6.0 — 6.9 ..........................

7.0 — 7.9 ..........................

8.0 — 8.9 ..........................

9.0 — 9.9 ..........................

10.0 — 10.9..............................

11.0 — 11.9 ..........................

12.0 — 12.9 ..........................

13.0 — 13.9 ..........................

14.0 — 14.9 ..........................

15.0 — 15.9 ..........................

16.0 — 16.9 ..........................

17.0 — 17.9 ..........................

18.0 — 18.9 ..........................

19.0 — 19.9 ..........................

20.0 — 49.9 ..........................

50 or more.....................................

Lowest ratio for any bank. .

Highest ratio for any bank.

X

6

111 3

489 30

1,191 106

2,203 389

2,508 757

2,147 903

1,555 816

1,140 651

756 504

428 279

304 219

212 150

114 87

63 48

40 31

28 23

29 22

69 62

6 6

1.6% 3.6%

100.0 100.0

1

3

41

236

677

1,329

1,392

1,057

634

441 221

133

74

55

25

138

4

4

4

2

56

178

315

364

288

156

91

44

27

14

9

6

2

2

1

1

1

11

34

81

91

5122

7

4

4

1

1

1

1.6%

32.3

2.32

21.9

2.8%

23.1

74

118

27

16

5

6

4.3%

19.5

18

5.3%

13.6

Ratios of capital to total assets. Distributions of the insured commercial banks according to their ratios of capital accounts to total assets, 

on June 30, 1954, are given in Table 55. Among the banks having deposits

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
8 4 FEDERAL DEPOSIT INSURANCE CORPORATION

of $2 million or less the most frequently occurring capital ratios are in 

the 8.0 to 8.9 percent interval, while for banks with deposits of $2 million 

to $10 million relatively more have ratios of 7.0 to 7.9 percent, and for 

banks with deposits of $10 million to $1 billion the most frequent ratios 

are from 6.0 to 6.9 percent. The distributions also show that a large 

amount of bank-to-bank variation exists among banks of any given size 

group, and especially among the smallest banks. Among the largest banks 

there were some which held more than twice as much capital per dollar 

of assets as others, and among the smallest banks the ratios ranged all 

the way from 3.6 percent up to 100 percent. The three banks with the 

highest ratios, 95 percent or more, were trust companies which on that 

date had few deposits or none. Even if such exceptional cases as these are 

omitted there remain many banks in the smallest deposit group which 

have relatively high capital ratios.

D a t a F or P r e v io u s Y e a r s

For periods prior to 1953 there is available only very limited information 

concerning assets and liabilities of insured commercial banks classified 

by size. This information is contained in the abbreviated statements of 

assets and liabilities published with the statistics of earnings, expenses, and 

dividends of insured commercial banks by deposit size groups. Such 

abbreviated statements are contained in the Annual Reports of the Corporation in 1943, 1945, and each subsequent year. These data suggest 

some moderate shifting in relationships between size of bank and the 

proportion of assets held in major categories, such as loans, securities, and 

cash and funds due from banks. However, the data are too limited to 

permit comparisons with the more detailed data for 1954.

Size-group tabulations were made of the asset and liability reports of 

all insured commercial banks as of June 30, 1953, but in somewhat less 

detail than for June 30, 1954. The 1953 data have not been published. 

Those data indicate relationships between size of bank and asset and 

liability characteristics which in all important matters, and in many 

matters of detail, are the same as those shown by the 1954 data. The 

similarity of the 1953 and 1954 data suggests that the size-group characteristics do not change rapidly.

The distributions of insured commercial banks based on their individual 

ratios of particular categories of assets to total assets on June 30, 1954, 

are the first such distributions ever to have been published. A preliminary, 

unpublished study using distributions of this sort was made as of June 

30, 1953. While the manner of processing the data was somewhat different 

for the two dates, the results indicate no striking differences between the 

distributions of similar character.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART FOUR

LEGISLATION AND REGULATIONS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Federal Leg islation

There was not enacted during 1954 any Federal legislation directly affecting the

Federal Deposit Insurance Corporation, nor any applying to insured banks by virtue

of their insured status.

Rules and Regu lations Of T he Corpo ratio n

AM ENDMENT OF ASSESSMENT AND OTHER PROVISIONS

The amendments of Parts 302 to 309, 326 to 328, and 333 as set forth below were

adopted effective March 30, 1954, and published in the Federal Register of March

27, 1954 (19 F. R. 1663-1667), as follows:

Effective March 30, 1954, the amendments of Parts 302, 326, and 327 of the rules

and regulations of the Corporation which were published in the F e d e r a l R e g is t e r

of February 20, 1954 (19 F. R. 1019-1021) under notice of proposed rule making, are

adopted, after consideration of all relevant matter presented by interested persons

on the proposed amendments, with further amendments. The amended regulations

as adopted are set forth below. Parts 326 and 327 are applicable to the assessment

base days commencing March 31, 1954, and thereafter. Any changes made by these

amendments of regulations are not retroactive.

Amendments of Parts 302-309, 328 and 333 as set forth below are adopted effective

March 30, 1954, and as these changes are in the nature of a clarification and do not

diminish the rights of insured banks, notice of them as proposed rules is found to be

unnecessary.

The amendments of the regulations, as adopted, are as follows:

1. Part 327 is amended to read as follows:

P a r t 327— A sse ssm en ts

Sec.

327.1 Definitions and periods of deduction for uncollected items.

327.2 Payment of assessments by banks whose insured status has terminated.

327.3 Time of payment.

A uthority; §§ 327.1 to 327.3 issued under sec. 9, 64 Stat. 882; 12 U. S. C. 1819. Interpret or apply

secs. 7, 8, 64 Stat. 876-881; 12 U. S. C. 1817, 1818.

§ 327.1 Definitions and periods of deduction for uncollected items. As used in

section 7 (a) of the Federal Deposit Insurance Act and in this part:

(a) Base day; definition. The term “ base day” shall be the period of time beginning

with the time of the closing of the books1 of the bank on the last business day immediately preceding the assessment base day to the time of the closing of the books

of the bank on the base day according to the normal practice of the bank. Holidays

and other nonbusiness days intervening between the preceding business day and the

base day are a part of the base day.

(b) Cash item; definition. The term “ cash item” means any instrument providing

for the payment of money which the reporting bank has received in the regular course

of business and in exchange therefor has given credit to a deposit account or has

issued an instrument evidencing or constituting a deposit as defined in such Act or

in Part 326 of this chapter, or has paid in the regular course of business: Provided,

1 The phrase “ closing of the books” on a business day, frequently referred to as the “cutoff time,”

here means the time to which transactions are reflected on the books as part of the business of that day

even though such transactions may not actually be recorded until a later time.

87

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

That the instrument is in the process of collection and is payable on presentation:

Provided further, That the payer or drawee of the instrument is not the reporting

bank or a branch or office thereof. The term reporting bank as used in this part means

the bank filing the certified statement for assessment purposes. For the purpose of

this paragraph a cash item shall be deemed paid by the reporting bank if the bank

has given cash therefor or credit as a payment on a debt due to the bank, or has

received it in payment for a Series “ E ” bond or other security (not an asset of the

bank), or as a collection for public utility service, or in a similar transaction: Provided,

however, That an instrument received by a bank in payment of, or arising from, the

sale or other disposition of any of its assets is not a cash item.

(c) Maintenance of assessment records. Each insured bank, as a condition to the

right to make any deduction or exclusion in determining its assessment base, shall

maintain such records as will readily permit verification of the correctness thereof.

(d) Cash items eligible for deduction. (1) In computing the assessment base only

cash items, as defined in this section, may be deducted under either of the two alternative methods described in this section. Such cash items may be deducted without

regard to whether withdrawal has been made against the credit given to deposit

accounts therefor: Provided, That such cash items are credited and withdrawals are

made in the normal course of business.

(2) No deductions may be made or claimed:

(i) For cash items after the reporting bank has received payment or notice of

dishonor thereof;

(ii) For instruments received in payment for cash items previously paid or credited

to deposit accounts and forwarded for collection;

(iii) For instruments received in payment of clearings;

(iv) By the issuing or drawer bank for drafts transferring its own funds;

(v) For drafts drawn and delivered or exchanged for the purpose of reducing the

assessment base;

(vi) For any cash item drawn by an officer, director, stockholder, or affiliate of

the reporting bank, or any person or corporation at its, his, or their suggestion or

direction for the purpose of abnormally increasing the deposits on the base day or for

the purpose of obtaining abnormal deductions. The length of time such funds remain

on deposit will be a factor in determining their purpose.

(3) No two reporting banks may deduct the same cash item under the (aa) method2

for computing deductible cash items unless one of the banks normally, and in the

regular course of business, is a collecting and check clearing agent for the other bank.

Cash items reaching another bank or banks by special handling on the base day,

other than in the normal and regular practice, may not be deducted under the (aa)

method by such other bank or banks but such other bank or banks may claim deduction therefor in the actual amount if included in the reported deposit liabilities.

(e) Process of collection. (1) A cash item is deemed to be in the process of collection

from the time it is either credited to a deposit account or paid by the reporting bank

and until the reporting bank has received acceptable payment in the form of cash,

credit, draft, or officer’s check, or notice of dishonor, but such draft or officer’s check

so received is not a cash item for the purpose of claiming deductions: Provided, That an

item shall not be considered as uncollected at the close of business on the base day

if such item has been outstanding for a period in excess of the time necessary to send

the item in due course to the Federal Reserve Bank of the Federal Reserve

district or a branch thereof in which the reporting bank is located, plus the time

allowed for collection from the place where the item is payable, as shown on the

2 See sec. 7 (a), Federal Deposit Insurance Act, 12 U. S. C. 1817 (a); also paragraph (i) of this § 327.1.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSESSMENTS 89

current Time Schedule of such Federal Reserve Bank or branch thereof: Provided

further, That in the case of an insured bank or branch located outside of any Federal

Reserve district, an item shall not be considered as uncollected at the close of

business on the base day if such item has been outstanding for a period in

excess of the time from the date the cash item is paid or credited to a deposit account

and the date of receipt (in the usual course of business) by the correspondent bank to

which the item is forwarded for collection plus the collection time allowed by the

Federal Reserve Time Schedule for the district in which the correspondent bank is

located.

(2) A cash item drawn on a place not included in the Federal Reserve Time Schedule,

or a cash item not collectible through a Federal Reserve Bank or branch thereof, may

be considered to be in the process of collection for the actual time required to collect it.

(3) This section is not to be construed as requiring any bank to clear items through

any Federal Reserve Bank or branch thereof.

(f) Forwarded for collection. A cash item shall be deemed to have been forwarded

for collection on the base day if it has been received for collection on the base day

and has been either forwarded for collection on that day or is in the process of forwarding in accordance with the normal procedure of the bank, even though the item

may be in the possession of the bank at the time of the closing of the books on the

base day. When holidays and other nonbusiness days are a part of the base day the

cash items transmitted for collection on any such nonbusiness day may not be treated

as cash items forwarded for collection on the base day if the items are collected at

the time of the closing of the books on the base day, or if the maximum period for

deductions prescribed in paragraph (e) of this section shall have expired at the time

of the closing of the books on that day.

(g) Held for clearings. A cash item is considered to be held for clearings at the

close of business on the base day if:

(1) It has been received in the usual course of business on the base day before

the closing of the books on that day;

(2) It is held for clearance or presentment at the time of the said closing in conformity with the normal practice of the reporting bank;

(3) The payer or drawee of the instrument is a bank or person, other than the

reporting bank, located in the same city or local clearing area or is a member of or

affiliated with the same clearing house as the reporting bank or regularly clears through

such clearing house or a member or an affiliate thereof.

(h) Payable on presentation. An item is deemed to be “payable on presentation”

when the payer or drawee is required to pay it forthwith upon presentation. The

reference includes such items as warrants directed to a public official to pay on demand

the amount thereof, matured bonds or bonds presented for redemption, matured

coupons, “payable through” items, and sight drafts with or without bills of lading,

securities, or other similar documents attached. It does not include items payable

upon arrival or inspection of certain goods nor other items which are not customarily

cleared or collected by the reporting bank as cash items.

(i) Choice of method in computing deductible cash items. An insured bank may, at

its option, compute its deductible cash items by either of the two following methods,

designated (aa) and (bb), namely:

(aa) Under this method a bank may deduct twice the amount of the total of the

cash items forwarded for collection on the base day and cash items held for clearings

at the close of business on said day which are in the process of collection and which

were received and reflected on the books as part of the business of the base day, all

in accordance with the normal procedure of the bank.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
9 0 FEDERAL DEPOSIT INSURANCE CORPORATION

(bb) Under this method a bank ma}^ deduct the total of the cash items forwarded

for collection on the base day and cash items held for clearings at the close of business

on said day which are in the process of collection and which were received and reflected

on the books as part of the business of the base day, plus the amount of the cash items

paid or credited on the preceding da}^s which are in the process of collection and

which remain uncollected on the assessment base day, all in accordance with the

normal procedure of the bank. If the (bb) method is used, no cash item may be considered uncollected for any period in excess of that prescribed in paragraph (e) of

this section.

(j) Option to claim deductions for uncollected items; change of method. The reporting

bank may select either of the two alternate methods, (aa) or (bb), for claiming deductions for cash items, provided this same method is used for both base days in the

semiannual assessment period. After this selection is made and a certified statement

filed, the bank may, within two years from the date on which such certified statement

was required to be filed, file an amendment of such certified statement for the purpose

of changing to the other alternate method. When a bank has elected not to claim any

deductions for cash items in a certified statement, it may, within two years from the

date on which such certified statement was required to be filed, file an amendment

of such certified statement claiming deductions for cash items.

(k) Direct sendings of uncollected items. For the purposes of this part a cash item

received on a base day by a correspondent bank or a Federal Reserve Bank or branch

thereof is considered as being received by the reporting bank on the base day if, in

the normal course of the bank’s business, the cash item has been forwarded direct

to such correspondent or Federal Reserve Bank or branch thereof by a depositor of

the reporting bank for credit to the depositor’s account in the reporting bank and the

reporting bank enters such credit to the account of the depositor on the base day.

Deductions may be claimed by the reporting bank for only the cash items in such

direct sendings which remain uncollected at the time of the closing of the books on

the base day. No deduction may be taken for any such cash item which would have

been collected if the item had been forwarded directly to the reporting bank instead

of to the correspondent, and all deductions claimed must be supported by proper

records maintained by the reporting bank.

(1) Interbranch items. An item which is drawn against a deposit account maintained

in the main office or a branch office of the reporting bank and which is received by an

office of the reporting bank other than the office where the deposit account is carried

and which has been paid or credited to a deposit account is not a cash item eligible

for deduction. If the item is not reflected on the books of the bank on the base day

as a charge against deposit liabilities, it may be subtracted therefrom in its actual

amount.

(m) Reciprocal bank balances. A reciprocal bank balance for the purpose of this

part is where the reporting bank has a deposit balance due to another insured bank

and such reporting bank has a deposit balance due from the same insured bank, disregarding for this purpose balances representing deposits of trust funds. The reporting

bank must include in the total of its deposit liabilities for assessment purposes the

total of its deposit liability to the said other insured bank as shown on the books

of the reporting bank at the time of the closing of its books on the base day. It may

deduct from such total deposit liabilities the amount of the deposit balance due from

such other insured bank but not in an amount in excess of the balance due to such

insured bank. For the purpose of computing the reciprocal bank balance deduction

the balances used must be subject to immediate withdrawal. This means that items

in the process of collection must be excluded from the computation of both the “ due

to” and “due from” balances as shown on the books of the reporting bank Any

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
ASSESSMENTS 91

outstanding unpaid draft credited to the “due from” account may be added back

to the book balance to show the actual collected balance due from the other insured

bank in computing this deduction.

(n) Trust funds deposited in other insured banks; deduction. The term “ trust funds”

means funds held by an insured bank in a fiduciary capacity, whether held in its trust

department or deposited in any other department or in another bank, and includes,

without being limited to, funds held as trustee, executor, administrator, guardian, or

agent. The reporting bank shall include in its total deposit liabilities for assessment

purposes all trust funds so held by it in a fiduciary capacity. It may, however, deduct

from such reported total deposit liabilities the following portion of such trust funds

so held:

(1) Trust funds received by the reporting bank in its trust department which the

reporting bank has deposited directly from its trust department to a depositary

insured bank;

(2) Trust funds received by other departments of the reporting bank from sources

other than the trust department which funds the reporting bank has deposited directly from such department or from its trust department to the depositary insured

bank;

(3) Trust funds deposited directly to the account of the reporting bank in a depositary insured bank by a person or persons other than the reporting bank;

(4) Trust funds originating from a pre-existing deposit account in another insured

bank to which the reporting bank has become entitled in its fiduciary capacity:

Provided, That in each of the foregoing instances:

(i) The account is maintained in the depositary insured bank by the reporting

bank as fiduciary and the account is appropriately entitled to show that the funds

therein are trust funds;

(ii) The funds in such account are used exclusively for their trust purposes by the

reporting bank; and

(iii) Records are kept which clearly show that the trust funds have been deposited

and maintained in the manner above stated.

§ 327.2 Payment of assessments by banks whose insured status has terminated-{s) Assumed deposits of terminating bank become deposits of assuming bank. The deposit

liabilities of an insured bank, if assumed by another insured bank, will, except to

the extent that depositors of the first bank by affirmative action signify their express

intention to hold the first bank liable as a debtor, be presumed for assessment purposes

to cease being deposit liabilities of the first bank on the date the assumption becomes

effective: Provided, That the requisite notice of assumption be given to the depositors

of the terminating bank.3 The assumed deposits, for assessment purposes, are deposit

liabilities of the assuming bank from the date of assumption, whether or not the

requisite notice of assumption has been given to the depositors.

(b) Payment of assessments by assuming bank on assumed deposits of terminating

bank. Where the deposit liabilities of an insured bank are assumed by another insured bank and the assuming bank agrees to file the certified statement which the

terminating bank is required to file, the filing of such certified statement and the

payment of the assessment thereon by the assuming bank shall be deemed the acts

of the terminating bank: Provided, That the requisite notice of assumption3 be given

to the depositors of the terminating bank, and Provided further, That such certified

statement shall be filed separately from that required to be filed by the assuming

bank.

(c) Resumption of insured status before insurance of deposits ceases. If a bank

whose insured status has been terminated under section 8 (a) or (b) of the Federal

1 The requisite notice of assumption shall be the notice prescribed in § 307.3 of this chapter.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Deposit Insurance Act, makes application to the Corporation, before the insurance

of its deposits shall have ceased, to be permitted to continue or to resume its status

as an insured bank and if the Board of Directors grants the application, the bank

will be deemed, for assessment purposes, to continue as an insured bank and must

thereafter furnish certified statements and pay assessments as though its insured

status had not been terminated. For the procedure to be followed in making such

application, see § 303.7 of this chapter.

§ 327.3 Time of 'payment. Each insured bank shall pay to the Corporation the

amount of the semiannual assessment due to the Corporation, as shown on its certified

statement,4 at the time such statement is required to be filed under section 7 (b) of

the Federal Deposit Insurance Act.

2. Part 326 is amended to read as follows:

P a r t 326— B a n k O b lig a tio n s P r e s c r ib e d A s D e p o s its

Sec.

326.1 Deposits.

326.2 Money or its equivalent.

A uthority: §§ 326.1 and 326.2 issued under sec. 9, 64 Stat. 882; 12 U. S. C. 1819. Interpret or apply

sec. 3, 64 Stat. 874; 12 U. S. C. 1813.

§ 326.1 Deposits. The term “deposit” as used in section 3 (1) of the Federal

Deposit Insurance Act, shall include the following obligations.

(a) Outstanding drafts, cashiers1 checks and other officers’ checks. Outstanding

drafts,1 cashiers’ checks, and other officers’ checks issued under any of the following

circumstances:

(1) For money or its equivalent received by the issuing bank; or

(2) For a charge against a deposit account in the issuing bank; or

(3) In settlement of checks, drafts, or other instruments forwarded to the issuing

bank for collection.

(b) Certified checks. Checks drawn against a deposit account and certified by

the drawee bank.

(c) Letters of credit and traveler’s checks.2 Outstanding letters of credit or traveler’s

checks on which the bank is primarily liable issued under either of the following

circumstances:

(1) For money or its equivalent received by the issuing bank; or

(2) For a charge against a deposit account in the issuing bank.

(d) Special purpose funds. Money received or held by the bank, or the credit

given therefor to an account including a special or memorandum account, which

money or credit is held for a special or specific purpose, regardless of whether the

relationship thereby created is that of debtor-creditor, fiduciary, or any other relationship.3

4 See §§ 304.1 and 304.3 of this chapter.

1 Drafts drawn on foreign correspondents or foreign branches and payable only in foreign countries

are not included in the term “deposit".

* The change in the wording of this paragraph is a clarification of the consistent interpretation by

the Corporation of the term “letters of credit” to include all letters of credit issued under the circumstances stated in this paragraph.

3 Special purpose funds, defined in § 326.1 (d), include, among others and without limitation to those

mentioned here, escrow funds, funds held as collateral security for an obligation due the bank or others,

withheld taxes, funds held for distribution or for purchase of securities or currency, or funds held by

the bank to meet its acceptances or letters of credit. The Corporation has consistently interpreted the

term “ deposit”, as defined in the Federal Deposit Insurance Act since 1935, to include special purpose

funds as defined in § 326.1 (d). These special purpose funds are also deposits by general usage. This

clarification is made with the realization that some or all of the funds defined as special purpose funds

in §^326 1 (d) may be within the term “deposit” as defined in the Federal Deposit Insurance Act since

1935.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANK OBLIGATIONS PRESCRIBED AS DEPOSITS 93

§ 326.2 Money or its equivalent. Under paragraphs (a) and (c) of § 326.1 drafts,

cashiers’ checks, and other officers’ checks, letters of credit and traveler’s checks

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

checks or drafts or for promissory notes upon which the person procuring any of the

enumerated instruments is primarily or secondarily liable.

3. Section 302.3 is amended by deleting the words “ Committee on Administration”

and substituting therefor the words “ Special Committee” .

4. Sections 303.1 and 303.2 are amended by deleting in § 303.1 the footnote reference

number “ 2” and the footnote numbered “2” and substituting in § 303.2 the number

“ 2” for the footnote reference number “ 3” and renumbering footnote “ 3” as footnote “ 2” .

5. Section 304.2 is amended by deleting the word “ should” and substituting therefor

the word “ shall” .

6. Section 305.1 is amended by changing the sixth sentence thereof to read as

follows: “The Corporation is authorized to make payment of the insured deposits

in cash or by making available to each depositor a transferred deposit in a ‘new bank,’4

which is insured, in the same community or in another insured bank in an amount

equal to the insured deposit of such depositor,” with the following footnote:

* See section 11 (h)-(l) of the Federal Deposit Insurance Act, 12 U. S. C. 1821 (h)-(l).

7. Section 306.1 is amended by adding the words “ and deposits” after the word

“ purchases” in the caption of the section and by deleting the word “from” in the

first sentence of the section and substituting therefor the words “ or deposits with”

and by deleting the words “ attorneys’ fees” in the fifth sentence of the section.

8. Section 306.2 is amended by changing the twelfth sentence thereof to read as

follows: “Attorney fees are submitted by the Legal Division to the Special Committee

for recommendation to and determination by the Board of Directors.”

9. Section 306.3 is amended by deleting the footnote reference number “ 4” and

substituting therefor the number “2” .

10. Footnote numbered 8 to paragraph (a) of § 307.2 is amended by deleting the

following: “footnote 13” and substituting therefor the following: “footnote 12” .

11. Footnote numbered 11 to paragraph (b) of § 307.3 is amended by deleting the

number “ 327.3” and substituting therefor the number “327.2” .

12. Section 308.14 is amended by deleting from the caption thereof the words

“ Service; proof of service” and substituting therefor the word “ Service” .

13. Part 309 is amended to read as follows:

P a r t 309— C o n f id e n t ia l an d P r iv ile g e d R e c o r d s an d In fo r m a tio n

Sec.

309.1 Unpublished information.

309.2 Opinions and orders.

A uthority: §§ 309.1 and 309.2 issued under sec. 9, 64 Stat. 882; 12 U. S. C. 1819. Interpret or apply

sec. 10, 64 Stat. 882-883; 12 U. S. C. 1820.

§ 309.1 Unpublished information— (a) Confidential information and records. All

files, documents, reports, books, accounts, and records (collectively referred to as

“ records” in this section) pertaining to any bank, or the internal operations and

affairs of the Corporation, in the possession or under the control of the Corporation

or any officer, employee, or agent thereof, including but not limited to (1) reports

of examinations or investigations of any bank, (2) applications, statements, and

reports to the Corporation by any bank, (3) proceedings for the termination of the

insured status of any bank, or (4) the internal operations of the corporation including

minutes of the meetings of the Board of Directors and authorized committees and

exhibits filed therewith, and all facts or information contained in such records or

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
9 4 FEDERAL DEPOSIT INSURANCE CORPORATION

acquired by the officers, employees, or agents of the Corporation in the performance

of their official duties (collectively referred to as “information” in this section) are

confidential and privileged.

(b) Disclosure 'prohibited. (1) Officers, employees, and agents of the Corporation

are prohibited from allowing any person to inspect, examine, or copy any of said

confidential or privileged records, or furnishing copies thereof, or from disclosing

any confidential and privileged information, except as herein provided:

(i) The Chief of any Division having custody thereof, in his discretion, may release

or furnish any records or information, other than records enumerated in paragraph

(a) (1), (2), (3), and (4) of this section and information acquired in reference thereto,

to any governmental agency, State or Federal, for use in the exercise of its official

duties; and to any other person upon a verified written application which shall show

that the applicant has a substantial interest therein and the purpose for which it is

to be used: Provided, however, That when such records or information are requested

by any person other than a governmental agency, the Division Chief shall find, and

such finding shall be supported by opinion of the General Counsel, that the release

or disclosure is not detrimental or prejudicial to the bank or banks or person or persons

from whom the records or information were obtained or received, nor contrary to

the public interest.

(ii) The Chief of the Division of Examination may furnish to any bank copies of

any reports of examination or investigation of such bank (except the section of the

report designated “ confidential” ) and other information pertaining to its affairs:

Provided, That copies of such reports of examination and other information so furnished

to any bank shall remain the property of the Corporation and under no circumstances

shall the bank or any of its directors, officials, or employees disclose or otherwise

make public in any manner such reports or any portion thereof or other information

so furnished.

(iii) The Chief of the Division of Examination may furnish to the Comptroller

of the Currency, to any Federal Reserve Bank, and to any commission, board, or

authority having supervision of a State nonmember bank, and to the Reconstruction

Finance Corporation, or its successor Federal agency, if it owns or holds as pledgee,

or has under consideration an application for the purchase of any preferred stock,

capital notes, or debentures in such bank, copies of reports of examination made on

behalf of the Corporation and other information pertaining to insured nonmember

banks for use in the exercise of their official duties: Provided, That such reports of

examination and other information so furnished to such officials or agency shall

remain the property of the Corporation and under no circumstances shall any such

official or agency disclose or make public in any manner such reports or any portion

thereof or other information so furnished.

(iv) The Chief of the Division of Examination may furnish to any official of the

Department of Justice or to any State prosecuting authority any information regarding

defalcations, burglaries, or robberies affecting insured banks, when, in his opinion,

there is urgent need for immediate action to be taken by such Department or authority in the investigation thereof or the apprehension or prosecution of persons

responsible therefor.

(v) The Chief of the Division of Research and Statistics may furnish to the Comptroller of the Currency, to any Federal Reserve Bank, and to any commission, board,

or authority having supervision of a State nonmember bank, copies of reports of

condition made by insured banks to the Corporation including statements of assets,

liabilities, and capital accounts, and of earnings, expenses, and distribution of profits,

for use in the exercise of their official duties: Provided, That under no circumstances

shall such Federal or State officials make public the contents of such reports or any

portion thereof, except in the publication of general statistical reports.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
CONFIDENTIAL AND PRIVILEGED RECORDS AND INFORMATION 9 5

(vi) The General Counsel of the Corporation may disclose to the proper Federal

or State prosecuting authorities any and all records and information relating to

irregularities discovered in open and closed insured banks believed to constitute

violations of any Federal or State statute.

(vii) The General Counsel may authorize the production of any record, the disclosure of any information, and the giving of any testimony with respect thereto,

by any officer, employee, or agent of the Corporation, upon any proceeding, hearing,

or trial, civil or criminal, in any Federal or State court or before any administrative

board, commission, or committee, on behalf of or at the request of the Corporation,

the United States, or State prosecuting official, or the bank or person from whom

such confidential and privileged records and information were received or obtained.

(2) The authorizations hereunder may be given only in response to a subpena

or other legal process duly issued and served upon the Corporation at its principal

office, which service may be by registered mail addressed to the Corporation at

Washington, D. C., specifying the record requested, the nature and scope of the

testimony to be elicited, the name of the witness and the place and time of appearance:

Provided, That the General Counsel, in his discretion, may waive the requirement of

service of subpena or process when he believes it to be in the interest of justice to

do so. Without such prior authorization, any officer, employee or agent of the Corporation required to respond to a subpena or other legal process shall attend at the

time and place therein mentioned and respectfully decline to produce any record or

disclose any information or give any testimony with respect thereto, basing his refusal

upon this rule.

(c) Application for disclosure unthout subpena. Applications for disclosure of

information or records hereunder should be addressed to the appropriate Division

Chief or the General Counsel of the Corporation, as the case may be.

(d) Service of process on officer, employee, or agent. Any officer, employee, or agent

of the Corporation served with a subpena, order, or other process requiring his personal attendance as a witness or the production of records or information upon any

proceeding mentioned in paragraph (b) (1) (vii) of this section shall promptly advise

(1) the court or tribunal which issued the process, and the attorney for the party at

whose instance the process was issued, if known, of the substance of this rule, and

(2) the General Counsel of the Corporation at Washington, D. C., of such service and

of the records and information requested and of any facts which may be of assistance

to the General Counsel in determining whether such records and information should

be made available.

(e) Authority of Chairman of Board of Directors. Notwithstanding any of the

foregoing provisions, the Chairman of the Board of Directors, in his discretion and

pursuant to law, may authorize the production, examination, or inspection of any

records, or the furnishing of copies thereof, or the disclosure of any information,

or the Chairman, in his discretion, may direct the General Counsel or the Chief of

any Division to refuse to permit the production, examination, or inspection of any

records, or the furnishing of copies thereof, or the disclosure of any information, if

he shall find such action to be in the best interests of the Corporation and consistent

with the public interest.

(f) Publication of data. The Board of Directors or the Chairman may from time

to time authorize and direct the publication and public distribution of information

and data compiled from the records of the Corporation.

§ 309.2 Opinions and orders, (a) A survey and review of the opinions and orders

heretofore made by the Board of Directors of the Corporation in the adjudication of

cases, in connection with licensing, supervision, investigation, termination of insured

status, payment of insured deposits, and the administration of liquidations and

receiverships, disclose that their publication would not be of current interest or

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
9 6 FEDERAL DEPOSIT INSURANCE CORPORATION

importance, they are not cited as precedents, and are required for good cause to be

held confidential. Accordingly, they will not be published nor made available to

public inspection.

(b) The Board of Directors will, however, either publish, or, in accordance with

published rule, make available for public inspection, final opinions and orders in

the adjudication of cases which are cited as precedents and which are not required

for good cause to be held confidential.

14. Paragraph (b) of § 328.1 is amended by adding in the second sentence after

the words “any other sign of” the word “ substantially” .

15. Section 328.2 is amended (1) by deleting in paragraph (a) the words “in paragraph (c)” and substituting therefor the words “in paragraph (d)” ; (2) by changing

the designations of paragraphs (c), (d) and (e) to (d), (e) and (f), respectively and

(3) by adding thereto the following paragraph:

(c) Use of emblem containing official advertising statement. (1) The Corporation

has approved for use by insured banks on all of its advertisements and bank supplies

the following emblem containing the official advertising statement, and its use in

advertisements requiring the official advertising statement will satisfy the mandatory

requirements of paragraph (a) of this section:

(2) An insured bank may use any other emblem containing reference to deposit

insurance or membership in the Corporation which shall have been approved in

writing by the Corporation; however, no such other emblem will satisfy the mandatory

requirements of paragraph (a) of this section.

16. Section 328.3 is amended to read as follows:

§ 328.3 Short title. The short title “ Member of FD IC” may be used by insured

banks; however, such short title will not satisfy the mandatory requirements of

paragraph (a) of § 328.2.

17. Section 333.101 is amended by deleting the words “ those of a commercial

bank” and substituting therefor the words “ the business of a commercial bank” .

F e d e r a l D e p o sit I n s u r a n c e C o r p o r a t io n ,

[se a l] E. F. D o w n e y ,

Secretary.

M a r c h 23, 1954.

[F. R. Doc. 54-2181; Filed, Mar. 26, 1954; 8:48 a. m.]

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DESCRIPTION OF ORGANIZATION OF THE CORPORATION 9 7

DESCRIPTION OF ORGANIZATION OF THE CORPORATION

The Description of Organization of the Corporation was amended and published

in the Federal Register of March 27, 1954 (19 F. R. 1681-1683), as follows:

The Description of Organization (formerly contained in 12 CFR Part 302) has

been amended to read as follows:

Sec.

1. Central organization.

2. Field organization.

3. Delegations of final authority.

S e c tio n 1. Central organization— (a) Board of Directors. (1) The Federal Deposit

Insurance Act (64 Stat. 873; 12 U. S. C. 1811-1831) vests the management of the

Federal Deposit Insurance Corporation (hereinafter referred to as the Corporation)

in a Board of Directors consisting of three members. Two members are appointed

by the President, by and with the advice and consent of the Senate for terms of six

years. The Comptroller of the Currency is the other member by virtue of his office.

One of the appointive members, designated by the Board of Directors, acts as its

Chairman and presides at all its meetings. The Acting Comptroller of the Currency

is a member of the Board in the place and stead of the Comptroller in the event of

a vacancy in the office of the Comptroller, and pending the appointment of his successor, or during his absence from Washington, D. C. In the event of a vacancy in

the office of the Chairman, and pending the appointment of his successor, the Comptroller of the Currency acts as Chairman. The Board of Directors is responsible for

the performance of all duties and exercises all powers vested by law in the Corporation.

The Board of Directors has assigned certain functions to the several officers, committees, and Divisions of the Corporation for the performance of which they are

responsible to the Board.

(2) The principal office of the Corporation, and the offices of the members of the

Board and of the Secretary of the Corporation, are located in the National Press

Building, Fourteenth and F Streets N .W ., Washington 25, D. C.

(b) Secretary. The Secretary of the Corporation is the chief recording and custodial

officer of the Board of Directors and of the Corporation, has legal custody of the

seal of the Corporation, and is responsible for the maintenance and custody of the

minutes and other official records of the Board, and, except as otherwise directed

by the Board, the furnishing of notice of matters acted upon byjthe Board, the certification and ensealing of all resolutions, papers, and documents requiring certification

on behalf of the Corporation or the affixation of its corporate seal, the issuance of

certificates of membership, or duplicates thereof, to insured banks.

(c) Committees. (1) Board of Review. A Board of Review, consisting of a member

of the Board of Directors and such staff members of the Corporation as are thereto

appointed by the Board of Directors, has been established to^consider recommendations from the Division of Examination relative to applications from banks for deposit

insurance; for consent by the Corporation to retirement or reduction of capital,

change of location of main office, establishment, operation, or change of location of

branches, conversions into, mergers or consolidations with, or assumptions of deposit

liabilities of, another bank or institution, transfers of assets to a noninsured bank

or institution, extensions by State nonmember insured banks (except District banks)

of corporate or charter powers, and to the service of bank directors, officers and

employees convicted of certain offenses, and other similar requests; to consider recommendations to terminate the insured status of a bank, and to recommend to the

Board of Directors the action to be taken thereon.

(2) Committee on Liquidations, Loans, and Purchases of Assets. A Committee on

Liquidations, Loans, and Purchases of Assets, consisting of a member of the Board

of Directors and such staff members of the Corporation as are thereto appointed by

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
9 8 FEDERAL DEPOSIT INSURANCE CORPORATION

the Board, has been established to consider recommendations from the Division of

Examination relative to applications by insured banks for financial assistance by

means of loans to, or purchases of assets from, or deposits by the Corporation in

insured banks, and recommendations from the Division of Liquidation relative to

payment of insured deposits and liquidation activities, and to recommend to the

Board of Directors the action to be taken thereon.

(3) Special Committee. A special Committee, consisting of a member of the Board

of Directors and such staff members of the Corporation as are thereto appointed by

the Board, has been established to consider recommendations from the Legal Division

with respect to legal matters requiring action of the Board, including applications

for exemption from the advertising regulations of the Corporation, compromises or

settlements of litigation in which the Corporation has an interest, claims by or against

the Corporation which are not in connection with matters considered by the Committee on Liquidations, Loans, and Purchases of Assets, fixing of fees of attorneys

retained by the Corporation; and to consider administrative procedure, rules, regulations, and forms of the Corporation, proposed changes in laws and regulations on

assessment matters, instructions on preparation of certified statements and payment

of assessments and problems of field audit of certified statements; and to consider

recommendations from the several Divisions of the Corporation which are referred

to it with respect to matters requiring Board action, except as otherwise prescribed

by these rules; and to recommend to the Board of Directors the action to be taken

thereon.

(d) Divisions— (1) Division of Examination. The Division of Examination,

headed by a Chief, is responsible for the examination of insured State nonmember

banks, State nonmember banks applying to become insured banks, closed insured

banks, and for the special examination of other insured banks; reviews reports of

such examinations as well as reports of examinations made by the office of the Comptroller of the Currency, in the case of national and District banks, and by the Federal

Reserve banks, in the case of State member banks; advises, assists, and makes recommendations to, the Board of Directors with respect to any supervisory action pertaining to insured banks, including termination of insured status, applications for

deposit insurance from noninsured State banks, proposed new State nonmember

banks, and State member banks applying to be insured as State nonmember banks;

applications for consent to the retirement or reduction of capital by State nonmember

insured banks (except District banks),1 the establishment and operation of branches

by State nonmember insured banks (except District banks), the change of location

of the main office, or any branch, by State nonmember insured banks, the extension

by State nonmember insured banks (except District banks) of corporate or charter

powers, the service of bank directors, officers and employees convicted of certain

offenses, and the merger or consolidation with, or assumption of deposit liabilities

of, another bank or institution and the transfer of assets to a noninsured bank or

institution.

(2) Office of the Controller. The Office of the Controller, headed by a Controller,

who is the chief financial, fiscal, and accounting officer of the Corporation, is responsible

for the maintenance and custody of all accounting records, for prescribing accounting

methods and procedures, for the custody, safekeeping, receipt, deposit, and dis1 Section 3 of the Federal Deposit Insurance Act provides (18 U. S. C. 1813 (a), (b), (c)):

(a) The term “State bank" means any bank, banking association, trust company, savings bank, or

other banking institution which is engaged in the business of receiving deposits, other than trust funds

as herein defined, and which is incorporated under the laws of any State, any Territory of the United

States, Puerto Rico, or the Virgin Islands, or which is operating under the Code of Law for the District

of Columbia (except a national bank), and includes any unincorporated bank the deposits of which

are insured on the effective date of this amendment.

(b) * * * the term “State nonmember bank" means any State bank which is not a member of the

Federal Reserve System.

(c) The term “District bank" means any State bank operating under the Code of Law for the District

of Columbia,

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DESCRIPTION OF ORGANIZATION OF THE CORPORATION 99

bursement of all funds of the Corporation and accountability therefor, for the custody

of all assets other than those within the responsibility of the Chief of the Division of

Liquidation, for supervision over and responsibility for the administration of assessment laws and regulations and for the supervision and direction of all personnel,

budget, and services and supply functions of the Corporation.

(i) Accounting and Budget Branch. The Accounting and Budget Branch, headed

by a Deputy Controller, is responsible for maintaining accounting records and developing accounting methods and procedures, for the collection and disbursement

of funds and custody of assets, and for the preparation and administration of the

Corporation’s budget.

(ii) Assessment Branch. The Assessment Branch, headed by a Fiscal Agent, is

responsible for the administration of assessment laws and regulations, for the receipt

and desk audit of certified statements from insured banks certifying the amount of

assessment due, for the collection of unpaid assessments and application of assessment

credits, for review of field assessment audit reports and for the adjustment of assessment errors.

(iii) Personnel Branch. The Personnel Branch, headed by a Director of Personnel,

supervises and advises with respect to procedures for personnel matters, including

recruitment, appointment, placement, classification, promotion, training, payroll,

leave, and retirement and maintains appropriate records pertaining thereto.

(iv) Service Branch. The Service Branch, headed by a Director of Services,

supervises and advises with respect to the purchase of materials, supplies, and equipment for the central and field offices, and is responsible for general maintenance services

for the Corporation.

(3) Division of Liquidation. The Division of Liquidation, headed by a Chief,

supervises, is responsible for, and advises, assists, and makes recommendations to

the Board of Directors with respect to payments to depositors of closed insured

banks, the liquidation of national banks and insured State banks for which the Corporation is appointed receiver, the liquidation of closed insured banks for which the

Corporation is not receiver and with respect to loans to, purchases of assets from, or

deposits by the Corporation in, open or closed insured banks and the liquidation

of assets acquired thereby.

(4) Legal Division. The Legal Division, headed by a General Counsel, advises

and assists the Board of Directors and the several Divisions of the Corporation with

respect to all legal matters concerning the functions, activities, and operations of

the Corporation, including all litigation, correspondence of a legal character, interpretation of organic law and Federal and State laws applicable to or affecting the

Corporation or its activities, and the preparation of rules, regulations, orders, opinions,

and documents of a legal character.

(5) Division of Research and Statistics. The Division of Research and Statistics,

headed by a Chief, provides economic counsel to the Board of Directors. It supervises,

is responsible for, and advises and assists the Board of Directors with respect to

continuing and special studies pertaining to deposit insurance, banking, finance,

and economic matters, preparation of security analyses, collection, compilation, and

interpretation of statistical data relating to the condition and operations of banks,

and the preparation of the Annual Report of the Corporation to Congress.

(6) Audit Division. The Audit Division, headed by a Chief, conducts and is

responsible for a continuous administrative audit of all fiscal and accounting activities

of the Corporation and evaluation of internal audit and fiscal controls, the preparation

of detailed and summary audit reports to the Board of Directors, and auditsJ^the

books and records of insured banks pertaining to certified statements for assessment

purposes.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
1 0 0 FEDERAL DEPOSIT INSURANCE CORPORATION

(e) Location of divisions. All of the Divisions of the Corporation are located at

the principal office of the Corporation, Fourteenth and F Streets N .W ., Washington 25,

D. C.

S e c . 2. Field organization— (a) District offices. The United States is divided into

twelve (12) Federal Deposit Insurance Districts. The Corporation maintains an office

in each of such Districts. Each District office is headed by a Supervising Examiner

who is appointed by the Board of Directors and functions under the supervision of

the Chief of the Division of Examination. Each Supervising Examiner is assisted

by a staff of examiners, assistant examiners, and clerical and stenographic employes.

The Supervising Examiner supervises the examination by the Corporation of insured

banks located within the States and Territories comprising the District, makes recommendations to the Chief of the Division of Examination with respect to applications

from banks (or proposed banks) for deposit insurance, for consent to capital reduction

or retirement, change of location of main office, establishment and operation or change

of location of branches, extensions of corporate or charter powers, and mergers of

insured with noninsured banks or institutions; and with respect to the termination

of insured status of banks and other supervisory matters; and acts as the Corporation's

representative in dealing directly with insured banks and State bank supervisor

authorities in his District regarding bank supervisory matters. The location of the

District offices and the States and Territories comprising each District are as follows:

No. 60— 40

District No., Address, Area in District

1, Room 1365, No. 10 Post Office Square, Boston 9, Mass., Connecticut, Maine, Massachusetts,

New Hampshire, Rhode Island, Vermont.

2, Room 1900, 14 Wall Street, New York 5, N. Y., Delaware, New Jersey, New York, Puerto Rico,

Virgin Islands.

3, City National Bank Building, 20 East Broad Street, Columbus 15, Ohio, Ohio, Pennsylvania.

4, 200 The Bank of Virginia Building, Fourth and Grace Streets, Richmond 19, Va., District of Columbia, Maryland, North Carolina, South Carolina, Virginia, West Virginia.

5, Fifth Floor, 114 Marietta Street, NW., Atlanta 3, Ga., Alabama, Florida, Georgia, Mississippi.

6, 1059 Arcade Building, St. Louis 1, Mo., Arkansas, Kentucky, Missouri, Tennessee.

7, 715 Tenney Building, Madison 3, Wis., Indiana, Michigan, Wisconsin.

8, 164 West Jackson Boulevard, Chicago 4, 111., Illinois, Iowa.

9, 1200 Minnesota Building, St. Paul 1, Minn., Minnesota, Montana, North Dakota, South Dakota.

10, 1201 Federal Reserve Bank Building, Kansas City 6, Mo., Colorado, Kansas, Nebraska, Oklahoma,

Wyoming.

11, Station K, Dallas 13, Tex., Arizona, Louisiana, New Mexico, Texas.

12, 315 Montgomery Street, Suite 1120, San Francisco 4, Calif., Alaska, California, Hawaii, Idaho,

Nevada, Oregon, Utah, Washington.

(b) Agents for service of process. The Board of Directors, in accordance with the

provisions of section 9 Fourth of the Federal Deposit Insurance Act (12 U. S. C. 1819)

has designated an agent upon whom service of process may be made in each State,

Territory, and other jurisdiction in which an insured bank is located. Persons desiring

to serve process upon the Corporation in any jurisdiction may obtain the name and

address of the proper agent by communicating with the Secretary of State or corresponding official in such jurisdiction, the Supervising Examiner for the District

including such jurisdiction, or the General Counsel of the Corporation at Washington,

D. C.

(c) Liquidators. The Corporation appoints a Liquidator for each receivership

of an insured national bank or District bank or insured State bank for which the

Corporation is appointed receiver, as well as for the liquidation of the assets acquired

by the Corporation pursuant to a loan or purchase of assets. Under the control of

the Board of Directors, and subject to the supervision of the Chief of the Division

of Liquidation, a Liquidator is the official representative of the Corporation with

respect to the receivership or liquidation entrusted to his charge, and, in general, is

the supervisor immediately in charge of the liquidation or receivership on behalf

of the Corporation. Local field offices are ordinarily maintained by such Liquidators

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
DESCRIPTION OF ORGANIZATION OF THE CORPORATION 101

with respect to such receiverships and liquidations and located in the community in

which the closed insured bank was engaged in business. Persons desiring to communicate or transact business with any such Liquidator may obtain his name and address

by communicating with the Chief of the Division of Liquidation.

(d) Claim agents. Pursuant to the provisions of subsection (b) of section 10 of

the Federal Deposit Insurance Act (12 U. S. C. 1820 (b) ), the Corporation appoints

one or more Claim Agents for each insured bank which shall have been closed under

circumstances requiring the Corporation, in accordance with applicable law, to make

payment of the insured deposits therein. Under the control of the Board of Directors,

and subject to the supervision of the Chief of the Division of Liquidation, the Claim

Agent exercises the powers prescribed by law and is the official representative of

the Corporation with respect to the payment of insured deposits in such closed bank

and, in general, supervises the payoff of the insured depositors on behalf of the Corporation. Local field offices, as authorized by the Board of Directors, are maintained

by such Claim Agents with respect to each such payoff and ordinarily are located

at the site of the closed insured bank until the payoff has been fully or substantially

completed. Persons desiring to communicate or transact business with any such Claim

Agent may obtain his name and address by communicating with the Chief of the

Division of Liquidation.

S ec. 3. Delegations of final authority. Except as otherwise provided by rule, or

with respect to matters which generally involve conditions or circumstances requiring

prompt action in the field for the better protection of the interests of the Corporation

and to achieve flexibility and expedition in its operations and in the exercise of its

functions, such as arise in connection with the Corporation’s litigation and liquidation

matters and with the payment of claims for insured deposits, the Board of Directors

does not delegate its authority and no delegations of final authority within the statutory

meaning of that phrase are made by the Board of Directors. Any person having a

proper and direct concern therein may ascertain the scope of authority of any officer,

agent, or employe of the Corporation by communicating with the Secretary of the

Corporation.

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 ,

[s e a l] E. F. D o w n e y ,

Secretary.

M a r c h 23, 1954.

[F. R. Doc. 54-2182; Filed, Mar. 26, 1954; 8:48 a. m.]

State Ba n k in g Legislatio n

In 1954 the legislatures of fourteen States held regular sessions and seven of these

legislatures had special sessions. The legislatures of seven other States held special

sessions.

This summary includes the more important State banking legislation enacted in

1954.

s u p e r v is o r y a u t h o r it y

Annual examination required.........................................................................Arizona (Ch. 137)

Appeal from unfavorable decision of banking board.......................Mississippi (Ch. 162)

Compensation of supervisory authority..........Arizona (Ch. 137); New York (Ch. 311)

Employment of appraisers............................................................................. Arizona (Ch. 137)

Examination fees............................................................................................... Arizona (Ch. 137)

Examination of bank corporate trustee of employee welfare trust fund by State or

Federal supervisory authority in lieu of examination by Superintendent of Insurance........................................................................................................New York (Ch. 278)

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

ORGANIZATION AND CHARTER CHANGES

Minimum capital stock requirements..................................................... Kentucky (Ch. 182)

Branch offices..................................................................................................Kentucky (Ch. 182)

Capital stock requirements for branches...............................................Kentucky (Ch. 182)

Naming of branch banks........................................................................... Mississippi (Ch. 166)

Extension of corporate existence of banking corporations from 50 years to 99 years

from date of original charter............................................................... Mississippi (Ch. 167)

STOCKHOLDERS

Bank stockholders’ meetings authorized in municipality where bank maintains

principal office or branch office..........................................................New Jersey (Ch. 142)

GENERAL OPERATING PROVISIONS

Preservation of bank records....................................................................... Kentucky (Ch. 54)

Transfer of earnings to surplus................................................................ New York (Ch. 478)

DEPOSITS

Deposits of and security for public funds........................................ ........................Maryland

(Ch. 74); Massachusetts (Ch. 135); Rhode Island (Ch. 3288); Virginia (Ch. 498)

Deposits payable to either of two persons or survivor........................................................

................................................................................. New Jersey (Ch. 208); Virginia (Ch. 11)

Deposits by one person in trust for another or payable at death to another................

.......................................................................................................... New Jersey (Chs. 208; 209)

Garnishment of deposit in names of two or more persons................Arizona (Ch. 74)

Payment of deposit not in excess of $1,000 to surviving relative___ Arizona (Ch. 75)

Limitations on deposits of industrial bank with another bank___ New York (Ch. 348)

Real estate loans..................................................Michigan (Act 109); New York (Ch. 791)

Limitations on loans to any person inapplicable to Federally insured or guaranteed

loans................................................................................................................Michigan (Act 109)

Obligations of Small Business Administration exempted from limitations on aggregate

loans to single borrower..........................................................................New York (Ch. 468)

Foreign banking corporations authorized to acquire mortgages without qualifying

to do business in State...........................................................................Mississippi (Ch. 163)

Savings bank mortgage loans................................................................... New Jersey (Ch. 98)

Home improvement loans..........................................................................New York (Ch. 723)

Fines on installment loans......................................................................... New York (Ch. 481)

INVESTMENTS

Savings bank investments:

Real estate loans.......................................................................................New Jersey (Ch. 98)

Obligations of public bonds of any State, payable out of public utility system

revenues.................................................................................................. New York (Ch. 673)

Obligations of Central Bank for Cooperatives............................... New York (Ch. 673)

Securities of any public authority, commission or instrumentality of any State

or political subdivision.......................................................................New York (Ch. 673)

Obligations of any province of Dominion of Canada or those for which faith of any

province is pledged for payment of interest and principal. .New York (Ch. 673)

Obligations of Commonwealth of Puerto Rico and municipalities therein...........

....................................................................................................................New York (Ch. 694)

RESERVES

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

......................................................................................................................New Jersey (Ch. 142)

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
STATE BANKING LEGISLATION 103

TRUST ACTIVITIES

Mutual trust investment companies authorized with stock ownership by trust companies and national banks with trust powers acting as fiduciaries.........................

........................................................................................................................ New York (Ch. 619)

d ir e c t o r s , t r u s t e e s , o f f i c e r s , a n d e m p l o y e e s

Requirement that bank employees file sworn financial statements semiannually made

optional with board of directors......................................................... Mississippi (Ch. 164)

h o l id a y s

Parish governing authorities authorized to declare Saturday a holiday except that in

Baton Rouge and parish of Orleans every Saturday is a holiday.. Louisiana (Act 593)

Supervisory authority authorized to permit by regulation a bank to close during the

week in keeping with the custom and practice of its trade area.. Mississippi (Ch. 165)

Saturday closing by banks in certain counties and cities....................Virginia (Ch. 273)

Legal holidays.....................................................................................................Virginia (Ch. 328)

TAXATION

Privilege tax imposed on foreign banking corporation acting in fiduciary capacity

equal to same privilege tax imposed by State having jurisdiction of foreign banking

corporation.................................................................................................Mississippi (Ch. 161)

LIQUIDATION

Disposition of uncalled for accounts, records and other documents in banks in liquidation ....................................................................................................................Louisiana (Act 23)

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
o

0 5

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 1954

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

and other areas), December 31, 1954

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

of office

Table 103. Number and deposits of operating banks in the United States (continental U. S. 

and other areas), December 31, 1954

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.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Com m ercial 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.

M utual 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 BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 101. C h a n g e s in N u m b er an d C la s s if ic a t io n 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 ta 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 ) D u r in g 1954

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks

Insured Noninsured

Type of change

Total In­ Non­ Total

Members F. R.

System Not

members

F. R.

System

Banks

of deposit

Nondeposit

trust

companies1

Total In­ Nonsured insured Total

National State

sured2 insured

BANKS

Number of banks, December 31, 1954.......................................... 14,409

14,552

-143

13,541

13,651

-110

868 13,881

14,024

-143

13,323

13,432

-109

4,789

4,856

-67

1,867

1,884

-17

6,667

6,692

-25

497 61 528 218 310

Number of banks, December 31, 1953.......................................... 901 532 60 528 219 309

Net change during year.................................................................. -33 -35 + 1 -1 + 1

Banks beginning operations.................................................... 72 66 6 72 66 18 6 42 6

Banks ceasing operations.......................................................... 216 206 10 215 205 94 26 85 8 2 1 1

Suspended bank not reopened or succeeded......................... 1 1 1 1

Suspended bank absorbed with financial aid of FDIC. . . .

Absorbed with financial aid of F D IC.....................................

1 1 1 1 1

1 1 1 1 1

Absorptions, consolidations, and mergers (without FDIC

aid)............................................................................................... 207 202 5 206 201 93 26 82 4 1 1 1

Other liquidations........................................................................ 6 2 4 6 2 1 1 3 1

Other changes in count of banks.......................................... 1 1 1 1

Insured banks becoming noninsured3................................. -2 + 2

-32

-2 -1 -1 + 2

Noninsured banks becoming insured................................. + 32

+ 1

+ 6

+ 24

+ 1

+ 32

+ 1

+ 6

+ 24

+ 1

+ 1 + 1 + 30

+ 1

+ 5

+24

-32

Succession to suspended noninsured bank............................. -1 -1

Successions to operating noninsured banks........................... -6 + 1 -6

Admissions to insurance, operating banks4........................... -24 -24

Admission to F. R. System, operating bank........................ -1 + 1

+ 3

-4

-1

Other changes in classification.............................................. -1 + 8

+ 11

-4

-11 -1 + 1 + 1

National banks succeeding state banks................................. -7

State banks succeeding national banks.................................. + 4

Admissions to F. R. System..................................................... + 11 -11

Withdrawals from F. R. System.............................................. -4 + 4

-1

Insured nonmember national bank admitted to F. R.

System......................................................................................... + 1

Bank reclassified........................................................................... -1 -1 + 1 + 1

Changes not involving number in any class:

Successions..................................................................................... 2 2 2 2 2

Absorptions of nonbanking financial institutions5............... 2 2 2 2 2

Changes in title, location, or name of location.................... 178 177 1 175 174 21 13 140 1 3 3

Changes in corporate powers.................................................... 18 18 18 18 18

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BRANCHES

Number of branches, December 31, 1954.

Number of branches, December 31„1953.

Net change during year.

Branches opened for business............................................

Facilities provided as agents of the government6..........

Absorbed banks converted into branches7.......................

Branches replacing banks relocated or placed in liquidation

Other branches opened8.........................................................

Branches discontinued..........................................................

Facilities.....................................................................................

Branches.....................................................................................

Other changes in classification among branches. . . .

Branches of national bank succeeding branches of state

bank.............................................................................................

Successor to noninsured branch...............................................

Branches of noninsured banks admitted to insurance........

Branches of insured banks admitted to F. R. System. . . .

Branches transferred as result of absorption or succession.

Changes not involving number in any class:

Branches transferred as result of absorption or succession.

Changes in title, location, or name of location....................

Change in powers.........................................................................

ALL BANKING OFFICES

Number of offices, December 31, 1954.

Number of offices, December 31, 1953.

Net change during year.

Offi ces opened.

Banks..............

Branches........

Offices closed.

Banks............

Branches. . . .

Changes in classification.

Among banks......................

Among branches................

6,751

6,227

+524

5618

181

5

367

378

29

1B5

239

21,160

20,779

+381

634

73

561

253

216

37

6,567

6,047

184

180

6,443

5,957

6,346

5,855

3,056

2,746

1,731

1,652

1,559

1,457

94

100

3

2

308

270

221

192

87

78

+ 520 + 4 +486 +491 +310 + 79 + 102 -6 + 1 +38 +29 + 9

550

8

11 529

8

527

8

278

5

115

1

134

2

1 1 32 23 9

181 179 179 105 26 48 2 2

5 5 5 1 2 2

356 11 337 335 167 86 82 1 1 30 21 9

37 37 37 21 8 8

8 8 8 5 2 1

29 29 29 16 6 7

+ 7 -7 -6 + 1 + 53 -28 -24 -7 + 6 + 6

+ 2 -2

+ 1 -1 + 1 + 1

+ 5

-39

-1

+ 5 -5 + 5 -5

+ 19

+ 1 -1 -6 -5 + 51 -11 -45 -1 + 6 + 6

135 135 135 24 89 22

237 2 231 230 117 38 75 1 8 7 1

8 1 9 8 5 3 1

20,108

19,698

1,052

1,081

20,324

19,981

19,669

19,287

7,845

7,602

3,598

3,536

8,226

8,149

591

632

64

62

836

798

439

411

397

387

+ 410 -29 + 343 +382 +243 +62 +77 -41 + 2 +38 +28 + 10

616

66

18

7

602

73

593

66

296

18

121

6

176

42

7

6

2

1

32 23 9

550 11 529 527 278 115 134 1 1 32 23 9

243 10 252 242 115 34 93 8 2 1 1

206 10 215 205 94 26 85 8 2 1 1

37 37 37 21 8 8

+ 37

+30

-37

-30

-7

-1

+31

+30

+ 62

+ 9

-25

+ 3

-6

+ 18

-24

-40

-33

+ 2

+ 2

+ 7

+ 1

+ 6

+ 6 + 1

+ 1

+ 7 -7 -6 + 1 + 53 -28 -7 + 6

1 Includes 1 trust company member of the Federal System for December 31, 1954.

2 Includes 3 mutual savings banks members of the Federal Reserve System, December 31, 1954, and December 31, 1953.

3 Trust companies not regularly engaged in deposit banking, insurance of which was terminated pursuant to provisions of Section 8(c) of the Federal Deposit Insurance Act.

4 Banks m operation at beginning of year, except one which opened noninsured and was admitted to insurance later in the year.

6 Not accompanied by establishment of additional banking offices.

• Facilities established in or near military installations at request of the Treasury or Commanding Officer of the installation.

7 Includes in merger and consolidation cases a branch established by the successor bank at the head office location of one of the predecessor banks.

8 Includes 2 branches in operation prior to beginning of year but not included in count as of December 31, 1953.

O<£>NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE H-*

__________ _ ©

Table 102. N u m b e r o f O p e r a tin g B a n k s a n 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, 1954 ^

State and type of bank or office

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks Insured banks as percentages

of banks of deposit1

Total Insured

Noninsured Total

Insured Noninsured

Total Insured8

Noninsured

All

banks

of deposit

Commercial

banks

Mutual

savings

banks

Total

Members F. R.

System Not

members

F.R.S.

Banks

of deposit

Nondeposit

trust

com­ National State panies2

Total United States........................... 21,160 20,108 1,052 20,324 19,669 7,845 3,598 8,226 591 64 836 439 397 95.3 97.1 52.5

All banks.............................................. 14,409 13,541 868 13,881 13,323 4,789 1,867 6,667 497 61 528 218 310 94.4 96.4 41.3

Unit banks........................................ 12,600 11,818 782 12,221 11,692 If.,227 1,588 5,877 U70 59 379 126 253 9k.2 96.1 33.2

Banks operating branches.............. 1,809 1,723 86 1,660 1,631 562 279 790 27 2 1U9 92 57 95.4 98.U 61.7

Branches............................................... 6,751 6,567 184 6,443 6,346 3,056 1,731 1,559 94 3 308 221 87 97.3 98.5 71.8

Continental United States............. 20,982 20,013 969 20,147 19,574 7,844 3,598 8,132 514 59 835 439 396 95.7 97.4 52.6

All banks............................................... 14,366 13,520 846 13,839 13,302 4,788 1,867 6,647 481 56 527 218 309 94.5 96.5 41.4

Unit banks........................................ 12,576 11,811 765 12,198 11,685 U,226 1,588 5,871 %59 378 126 252 9U.3 96.2 33.3

Banks operating branches.............. 1,790 1,709 81 1,61*1 1,617 562 279 776 22 2 1U9 92 57 95.6 98.7 61.7

Branches............................................... 6,616 6,493 123 6,308 6,272 3,056 1,731 1,485 33 3 308 221 87 98.2 99.5 71.8

Other areas............................................ 178 95 83 177 95 1 94 77 5 1 1 54.9 55.2

All banks............................................. 43 21 22 42 21 1 20 16 5 1 1 55.3 56.8

Unit banks........................................ 2U 7 17 23 7 1 6 11 5 1 1 36.8 38.9

Banks operating branches............. 19 1U 5 19 M 1U 5 73.7 73.7

Branches............................................... 135 74 61 135 74 74 61 54.8 54.8

State

Alabam a.................................................. 271 271 271 271 105 28 138 100.0 100.0

All banks............................................... 234 234 234 234 71 25 138 100.0 100.0

Unit banks........................................ 223 223 223 223 62 23 138 100.0 100.0

Banks operating branches.............. 11 11 11 11 9 2 100.0 100.0

Branches............................................... -37 37 37 37 34 3 100.0 100.0

Arizona.................................................... 97 94 3 97 94 57 6 31 3 100.0 100.0

All banks............................................... 13 12 1 13 12 3 1 8 1 100.0 100.0

Unit banks........................................ h u 4 u 1 3 100.0 100.0

Banks operating branches.............. 9 8 1 9 8 2 1 5 1 100.0 100.0

Branches............................................... 84 82 2 84 82 54 23 2 100.0 100.0

Arkansas................................................. 254 248 6 254 248 56 17 175 5 1 98.0 98.0

All banks............................................... 231 225 6 231 225 53 17 155 5 1 97.8 97.8

Unit banks........................................ 210 201* 6 210 201* 50 17 137 5 1 97.6 97.6

Banks operating branches.............. 21 21 21 21 3 18 100.0 100.0

Branches............................................... 23 23 23 23 3 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................................

Unit banks.........................

Banks operating branches

Branches................................

Florida.......................................

All banks................................

Unit banks.........................

Banks operating branehes

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

1,281 11 1,292 1,281 930

162 9 171 162 73

1107 117 110 50

52 2 5U 52 23

1,119 2 1,121 1,119 857

157 9 166 157 80

152

9 161 152 77

11,7 9 156 U7 7U 5 5 5 3

5 5 5 3

187 97 193 180 81

97 80 105 92 43

65 71 75 62 30

32

9 30 30 13

90 17 88 88 38

65 5 67 64 10

34 2 34 33 10

26 25 25 10 8 2 9 8

31 3 33 31

71 71 71 39

17 17 17 8

3 3

S

1

1U

U

n

7

54 54 54 31

233 5 238 233 85

221

5 226 221 76

209 5 21U 209 67

12 12 12 9

12 12 12 9

405 55 460 405 91

347 54 401 347 52

328 53 381 328 U2

19 1 20 19 10

58 1 59 58 39

103 103 103 67

38 38 38 11

30 30 30

7

8

8

8 •4

65 65 65 56

905 8 913 905 392

902 8 910 902 389

899 8 907 899 386

3 3

S

3

3 3 3 3

1,292

171

1175h 1,121

166

161

15655

284

177

136U1

107

70

36

2610

34

71

173U54

238

226 21U1212

460

401

38120

59

103

38

308

65

913

910

90733

211

3522

13

176

18

17

1611

46

1477

32

163

124

124 12b

140 3 8

54 2 7

38

1

6

16 1 1

86 1 1

59 9

58 9

57 9 11

53 12 1 91

7 84

35 12 1 72 5 67

25 12

1 61 3 58

10 11

2

9

18 19

2 17

38 3 3

1

2

20 1 2 1 1

15 1 1 5 1 1 1

18

2 1 1

14413

10

137 2 3

134 2 3

131 2

3

33

289 55

282 54

277 53 5 1 7 1

23

18

1625

389 5

3

389 5 3

389 5 3

99.8

98.8

99.1

98.1

99.9

94.6

94.4

91*.2 100.0 100.0

66.1

55.1

U8.1

78.0

84.1

92.9

94.4 100.0

80.0

91.2

100.0 100.0 100.0 100.0 100.0

99.1

99.1

99.1 100.0 100.0

88.0

86.5

86.1

95.0

98.3

100.0 100.0 100.0 100.0 100.0

99.5

99.4

99.U 100.0 100.0

99.8

98.8

99.1

98.1

99.9

94.6

94.4

91>.2 100.0 100.0

93.8

88.5

83.8 100.0 100.0

95.5

97.1 100.0

88.9

93.9

100.0 100.0 100.0 100.0 100.0

99.1

99.1

99.1 100.0

100.0

88.0

86.5

86.1

95.0

98.3

100.0 100.0 100.0 100.0 100.0

99.5

99.4

99.U 100.0 100.0

7.7

6.9

U.9

18.2

10.5

33.3

50.0 100.0

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N u m b e r o f O p e r a t i n g B a n k s a n d B r a n c h e s i n t h e U n i t e d St 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 31,1954— C o n t'

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 percentagesof banks of deposit1

State and type of bank or office

Insured Noninsured

Total Insured

Noninsured Total

Total

Members F. R.

System Not

members

F.R.S.

Banks

of deposit

Nondeposit Total Insured3

Noninsured

All

banks

of deposit

Commercial

Mutual

savings

National State

trust

companies2

banks banks

Indiana.................................................... 631 622 9 627 619 187 142 290 7 1 4 3 1 98.7 98.9 75.0

All banks...............................................

Unit banks........................................

Banks operating branches..............

478

m

7U

153

469

395

U

153

9

9

474

1*00

71*

153

466

392

71*

153

123

98

25

111

103

8

232

191

1*1

58

7

7

1

1

4

-4

3

3

1

1

98.3

98.0

100.0

98.5

98.2

100.0

75.0

75.0

Branches............................................... 64 31 100.0 100.0

Iowa.......................................................... 827 775 52 827 775 96 72 607 51 1 93.8 93.8

All banks............................................... 665 615 50 665 615 96 70 449 49 1 92.6 92.6

Unit banks........................................ 5U5

120

1,97

118

U8

2

51*5

120

1*97

118

96 68 333 U7

2

1 91 .1*

98.3

91.1*

Banks operating branches.............. 2 116 98.3

Branches............................................... 162 160 2 162 160 2 158 2 98.8 98.8

Kansas...................................................... 605 490 115 605 490 173 42 275 115 81.0 81.0

All banks............................................... 602 487 115 602 487 170 42 275 115 80.9 80.9

Unit banks........................................ 599 U8h

3

115 599 1*81* 167 1*2 275 115 80.8 80.8

Banks operating branches.............. 8 3 3 3 100.0 100.0

Branches............................................... 3 3 3 3 3 100.0 100.0

Kentucky................................................ 437 420 17 437 420 117 35 268 16 1 96.3 96.3

All banks............................................... 371 354 17 371 354 89 20 245 16 1 95.7 95.7

Unit banks........................................ 81*0 323 17 31+0

31

323 83 11*

6

226 16 1 95.3 95.3

Banks operating branches..............

Branches...............................................

31 31 31 6 19 100.0 100.0

66 66 66 66 28 15 23 100.0 100.0

Louisiana................................................ 274 273 1 274 273 91 23 159 1 99.6 99.6

All banks............................................... 172 171 1 172 171 40 11 120 1 99.4 99.4

Unit banks........................................ 12 U

U8

102

123 1 12 U

1*8

128 26 6 91 1 99.2 99.2

Banks operating branches.............. A8

102

A8

102

n

51

5 29 100.0 100.0

Branches............................................... 102 12 39 100.0 100.0

M aine........................................................ 184 142 42 151 134 48 36 50 17 33 8 25 77.2 88.7 24.2

All banks............................................... 93 62 31 61 54 31 6 17 7 32 8 24 66.7 88.5 25.0

Unit banks........................................ 63 39 21*

7

32 81 22 2 7 1 31 8 23 61.9 96.9 25.8

Banks operating branches.............. SO 28 29 23 9 1* 10 6 1 1 76.7 79.3

Branches............................................... 91 80 11 90 80 17 30 33 10 1 1 87.9 88.9

1

112 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
M aryland.................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Massachusetts.......................

All banks................................

Unit banks.........................

Banks operating branches

Branches4...............................

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

Nebraska...................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Nevada.......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

335

4 308 305 98

158 2 152 151 57

i n 1 112 112

U

U

1 uo 39 13

177 2 156 154 41

402 258 410 402 229

171 194 177 171 112

110 1U8 115 110 8U

61 U6 62 61 28

231 64 233 231 117

756 10 766 756 201

419 10 429 419 77

329 10 339 329 59

90 90 90 18

337 337 337 124

674 12 685 673 184

668 12 679 667 178

666 12 677 665 176

2 2

2

2

6

6 ^ 6

6

280 3 283 280 34

194

3 197 194 25

150 3 153 150 21

u U

U

h

86 86 ^86

9

582 19 601 582 78

581 19 600 581 77

580 19 599 580 76

1 1

1

1

1 1

1

1

110 110 110 39

110 110 110 39

110 110 110 39

376 44 420 376 124

375 44 419 375 123

37 U

U hi 8 37 U 122

1 1 1 1 1 1 1 1

32 32 32 22 8 8 8 5 3 3 3 2 5 5 5 3

24 24 24 17

■*"

339

160

115

U 5

179

660

365

258

107

295

766

429

339

90

337

686

680

6786

283

197

153U86

601

600

59911

110

110

110

420

419 41811

32835

24

62

1376

49

113

25

302

153

125

28

149

28

28

137

<516

100

100

100

44

44U

16

16

16

145

81

61

20

64

60

3420u

26

253

189

1U5u

64

461

461

U61

233

162

123

39

71

404

404 m

27

27

236

236

236

1111

11

15

15

15

38

38

38

31835

23

250

188

11*3U5

62

3075

23

250

188 1U3

U5

62

98.8

98.8

99.1

97.8

98.9

99.0

99.3

100.0

97.5

98.7

60.9

46.8

U2.6

57.0

78.3

98.0

96.6

95.7

984

99.1

99.5

99.1

98.8

100.0

100.0

99.5

99.1

98.8

100.0

100.0

98.4

98.4

984

100.0

100.0

98.4

98.4

984

100.0

100.0

98.9

98.5

98.0

100.0

100.0

98.9

98.5

98.0

100.0

100.0

97.5

97.5

97.5

100.0

100.0

97.5

97.5

97.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

90.8

90.8

90.8

100.0

100.0

90.8

90.8

90.8

100.0

100.0

100.0

100.0

100.0 100.0

100.0

100.0

100.0

100.0

100.0

100.0

96.8

87.5

66.7

100.0

100.0

100.0

100.0

100.0

CONUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N u m b e r o f O p e r a tin g B a n k s a n d B r a n c h e s in th e U n ite d S ta t e s ( C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31,1954— Cont.

g ro u p e d a c c o r d in g t o in s u r a n c e s ta tu 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 Total

Members F. R.

System Not

members

F.R.S.

Banks

Nondeposit Total Insured3

Noninsured

All

banks

of deposit

Commercial

Mutual

savings

banks

National State

of deposit

trust

companies2

banks

113 77 36 78 65 52 1 12 13 35 12 23 68.1 83.3 34.3

All banks ....................... 110 74 36 76 63 51 1 11 13 34 11 23 67.3 82.9 32.4

TJnit banks ....................... 107 71 86 74 61 50 1 10 13 38 10 23 66.4 82.4 80.3

3 8 2 2 1 1 1 1 100.0 100.0 100.0

Branches 3 3 2 2 1 1 1 1 100.0 100.0 100.0

New Jersey 573 570 3 538 535 314 153 68 3 35 35 100.0 100.0 100.0

All banks 330 327 3 307 304 196 66 42 3 23 23 100.0 100.0 100.0

Unit battles 238 285 8 222 219 150 39 30 3 16 16 100.0 100.0 100.0

R/j-m l*a £\'r\cmf'i'nn 7ivn/n/*'h.pst 92 92 85 85 46 27 12 7 7 100.0 100.0 100.0

nfiltl/’llPQ 243 243 231 231 118 87 26 12 12 100.0 100.0 100.0

Vfarn \yf 78

52

87

15

26

1,777

689

78

52

87

15

26

78 78 34 9 35 100.0 100.0

52 52 26 8 18 100.0 100.0

87 87 21 7 9 100.0 100.0

15 15 5 1 9 100.0 100.0

26 26 8 1 17 100.0 100.0

New York .................................... 1,762

678

15 1,526 1,511 636 753 122 11 4 251 251 99.4 99.3 100.0

All banks . . . . 11 560 549 341 149 59 7 4 129 129 99.0 98.7 100.0

Unit batiJcs ....................... 488

206

1,088

528

224

188

86

304

177

154

188

16

23

^75

208

8 420 412 275 97 40 4 4 68 63 99.2 99.0 100.0

Baltics Op&T&tiTlQ bTa7tcTl€8 8 140

966

137 66 52 19 8 66 66 98.5 97.9 100.0

Branches4 ........... 1,084

524

223

4 962 295 604 63 4 122 122 99.6 99.6 100.0

|*aH yi Q 4 528 524 95 49 380 4 99.2 99.2

All V\QTllrQ 1 224 223 46 9 168 1 99.6 99.6

188 188 138 27 2 109 100.0 100.0

85

301

I 86 85 19 7 59 1 98.8 98.8

3 304 301 49 40 212 3 99.0 99.0

172 5 177 172 38 2 132 5 97.2 97.2

149 5 154 149 38 2 109 5 96.8 96.8

TJ h/TYi If Q 188 5 188 133 88 2 98 5 96.4 96.4

P/r/vil*o finrk£>rfif/i/Yi ft Tit* 16

23

16 16 16 100.0 100.0

23 23 23 100.0 100.0

114 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................................

Oklahom a................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Oregon.......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches4...............................

Pennsylvania..........................

All banks................................

Unit banks.........................

Banks operating branches

Branches4...............................

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 bank 8..........................

Banks operating branches

Branches.................................

Texas...........................................

All banks.................................

Unit banka..........................

Banks operating branches

Branches.................................

975

5 967 962 375

632

5 634 629 234

535

5 589 58A 198

97 95 95 hi

343 333 333 141

378

8 386 378 199

376

8 384 376 197

37 A

8 382 371, 195

2

2

2

2

2

2 2 2

184

2 185 183 139

46

2 47 45 13

36 2 87 35 11

10 10 10

2

138 138 138 126

1,271 20 1,255 1,235 779

850 16 859 843 550

733 13 7U3 730 U8U

117 3 116 113 66

421

4 396 392 229

84 12 73 70 39

13

5 10 8

5

5

8 3 2

2

8

2 7 6

3

71 7 63 62 34

217 12 229 217 81

139 12 151 139 26

113 12 125 113 17

26 26 26 9

78 78 78 55

222 222 222 58

170 170 170 35

1U1 H I

m 81

29 29 29

A

52 52 5? 23

418

7 425 418 147

290 7 297 290 75

2U6

7 253 21*6 58

AA AA

U 17

128 128 128 72

903 39 942 903 459

886 39 925 886 442

868 89 907 868

m

18 18 18 18

17 17 17 17

980

637

5U0

97

343

386

384

88222

186

4888

10

138

1,291

866 W

120

425

96

188

10

78

229

151

125

26

78

222

170 m29

52

425

297

253UU128

942

925

907

18

17

327

173

151

22

154

25

25

107613

200

94

7 A

20

106

151

22972

13

135

135

135

260

5 13 13

222 5 3 3

190

5 1 1

82

2

2

38 10 10

154

7

1

154

7

1

15k 7 1

34 1 1 1

1

25 1 1 1

1

18 1 1 1

1

79

256 17

3 36 36

199 13 3 7

7

172 10 3 3

3

27

8 A A

57 4 29 29

16 2 1 23 14 9 2 1 1 8 5 3 1 5 8 2 2 1 3 2 1

14

1 15 9

6

126 12

105 12

90 12

15

21

137

108

88

25

29

249 4 3

206 4 3

181 u

3

25

43

309 39

309 39

309 89

99.5

99.2

99.1

100.0

100.0

98.2

98.2

98.2

100.0

100.0

99.5

97.9

97.3

100.0

100.0

98.7

98.5

98.7

97.5

99.1

88.4

76.5

71. A

80.0

91.0

94.8

92.1

90.A

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.1

98.6

98.A

100.0

100.0

95.9

95.8

95.7

100.0

100.0

99.5

99.2

99.1

100.0

100.0

98.2

98.2

98.2

100.0

100.0

99.5

97.8

97.2

100.0

100.0

98.6

98.5

98.6

974

99.0

97.2

88.9

100.0

85.7

98.4

94.8

92.1

90 4

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.1

98.6

98 4

100.0

100.0

95.9

95.8

95.7

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

100.0

60.9

62.5

60.0

66.7

60.0

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BANKS 115

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 102. N u m b e r o f O p e r a t in g B a n k 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 e c e m b e r 31,1954— Cont.

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF OFFICE

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks Insured banks as percentages

of banks of deposit1

State and type of bank or office

Insured Noninsured

Total Insured

Noninsured Total

Total

Members F. R.

System Not

members

F.R.S.

Banks

Nondeposit Total Insured3 Noninsured

All

banks

of deposit

Commercial

banks

Mutual

savings

banks

National State

of deposittrust

companies2

Utah 92 92 92 92 32 31 29 100.0 100.0

All banks - 54 54 54 54 9 20 25 100.0 100.0

Unit banks U

10

U

10

44

10

44

10

8 15 21 100.0 100.0

Banks operating branches 1 5 4 100.0 100.0

Branches 38 38 38 38 23 11 4 100.0 100.0

Vermont ........................................... 94 93 1 78 77 41 1 35 1 16 16 100.0 100.0 100.0

All banks 72 71 1 65 64 37 1 26 1 7 7 100.0 100.0 100.0

Unit banks . . 63 62 1 57 56 34

3

1 21 1 6 6 100.0 100.0 100.0

Banks operating branches 9 9 8 8 5 1 1 100.0 100.0 100.0

Branches ........ 22 22 13 13 4 9 9 9 100.0 100.0 100.0

Virginia 473 473 473 473 201 109 163 100.0 100.0

All banks 316 316 316 316 132 73 111 100.0 100.0

Unit banks 2US

73

243

73

243

73

243

73

105 58 80 100.0 100.0

Banks operating branches 27 15 31 100.0 100.0

Branches 157 157 157 157 69 36 52 100.0 100.0

Washington 301 298 3 293 290 200 23 67 3 8 8 99.0 99.0 100.0

All banks............................................... 111 108 3 107 104 32 15 57 3 4 4 97.3 97.2 100.0

Unit banks ........... 87 84

n

190

3 85 82 18 12 52 3 2 2 96.6 96.5 100.0

Banks operating branches. . . n

190

22 22 U

168

3 5 2 2 100.0 100.0 100.0

Branches4 ................. 186 186 8 10 4 4 100.0 100.0 100.0

West Virginia 183 179 4 183 179 75 36 68 4 97.8 97.8

All banks 183 179 4 183 179 75 36 68 4 97.8 97.8

Unit banks 183 179 4 183 179 75 36 68 4 97.8 97.8

W isconsin............................................... 708 700 8 704 697 110 78 509 4 3 4 3 1 99.3 99.4 75.0

All banks............................................. 558 551 7 554 548 95 71 382 3 3 4 3 1 99.3 99.5 75.0

Unit banks........................................ 468 462

89

6 464

90

459 91 67 301 2 3 4 3 1 99.4 99.6 75.0

Banks operating branches 90 1 89 A 4 81 1 98.9 98.9

Branches • • . • ........ 150 149 1 150 15 7 127 1 99.3 99.3

116 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..................................

Other area

Alaska6.........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

American Sam oa....................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

54

53

52-1

1

100.0

100.0

100.0

100.0

100.0

66.7

47.4

30.8

83.3

92.9

100.0

100.0

100.0

100.0

100.0

66.7

47.4

30.8

83.3

92.9

Hawaii6........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Mariana Islands.....................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches4.................................

2

49

10.5

60.0

100.0

50.0

5.8

10.5

60.0

100.0

50.0

5.8

Panama Canal Zon e.............

All banks..................................

Unit banks...........................

Banks operating branches.

Branches4.................................

Puerto R ico...............................

All banka..................................

Unit banks...........................

Banks operating branches.

Branches4.................................

Virgin Islands7.........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

63

7

90.0

70.0

66.7

71.U

93.3

80.0

66.7

100.0

100.0

90.0

70.0

66.7

71.b

93.3

100.0

100.0

100.0

100.0

* Percentages are based on totals for all banks, excluding nondeposit trust companies.

2 Includes 1 trust company in Missouri member of the Federal Reserve System.

3 Includes 3 banks members of the Federal Reserve System: 1 in Indiana and 2 in Wisconsin. ^

4 Includes branches operated by banks located in other states or areas as follows: 1 noninsured branch in Massachusetts operated by a New York bank; 2 insured branches in i—*

New York operated by a Puerto Rico bank; 1 insured branch in Oregon operated by a California bank; 1 insured branch in Pennsylvania operated by a New Jersey bank and 1 noninsured branch in Pennsylvania operated by a New York bank; 2 insured branches in Washington operated by a California bank; 3 noninsured branches in the Mariana Islands operated

by a California bank; 4 noninsured branches in the Panama Canal Zone operated by 2 New York banks; and 9 insured branches in Puerto Rico operated by 2 New York banks

6 Includes 5 insured national banks, not members of the Federal Reserve System.

• Includes, among noninsured banks, 1 national bank operating 21 branches.

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 1953, pp. 82-89, and earlier reports.

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. N umber and D eposits of Operating Banks in the United States (Continental U. S. and Other Areas), D ecember 31, 1954

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND BY DISTRICT AND STATE

FDIC District

and State

Number of banks

All

banks1

Commercial and stock savings

banks and nondeposit

trust companies

Total Insured

Noninsured

Banks

of deposit1

Nondeposit

trust

Mutual savings banks

Total Insured

Noninsured

Deposits (in thousands of dollars) 00

All

banks

Commercial and stock savings

banks and nondeposit

trust companies

Total Insured Noninsured

Mutual savings banks

To^l Insured Noninsured

14,409

14,366

43

835

1,068

1,503

1,051

1,058

1,499

1,465

1,575

1,114

1,619

1,162

234

13

231

171

161

177

36

17

226

401

38

910

478

665

602

13,881

13,839

42

913

1,493

1,043

1,058

1,499

1,457

1,575

1,113

1,619

1,162

455

234

13

231

171

161

105

34

17

226

401

38

910

474

665

602

13,323

13,302

21

452

895

1,472

1,025

996

1,450

1,433

1,517

1,096

1,443

1,121

423

234

12

225

162

152

92

33

17

221

347

38

902

466

615

487

497

481

16

39

11

18

18

59

40

14

54

16

169

40

19

5

7

49

115

61

56

5

528

527

1

341

155

10

8

218

218

36

153

10

7

310

305

2

212,030,341

211,111,392

918,949

15,681,779

60,101,901

23,238,451

10,606,212

7,674,412

10,801,605

15,000,198

17,872,354

5,598,754

7,632,814

13,214,165

24,607,696

1,555,617

694,203

985,129

18,020,376

1,553,163

3,741,730

666,894

1,335,688

2,955,024

2,198,876

532,483

15,165,165

4,079,982

2,707,189

2,054,435

185,671,316

184,752,563

918,753

8,690,999

43,554,099

21.488.144

10,135,948

7,674,412

10,801,605

14.927.145

17,872,354

5,376,833

7,632,814

13,214,165

24,302,798

1,555,617

694,203

985,129

18,020,376

1,553,163

2,020,234

555,574

1,335,688

2,955,024

2,198,876

532,483

15,165,165

4,025,926

2,707,189

2,054,435

183,309,223

182,881,860

427,363

8,431,190

42,885,849

21,429,343

9,987,989

7,645,024

10,752,221

14,870,139

17,747,869

5,242,023

7,451,936

13,117,011

23,748,629

1,555,617

690,853

981,776

17,954,118

1,549,945

1,986,646

551,138

1,335,688

2,945,314

2,187,956

532,483

15,128,024

4,011,743

2,619,845

1,913,035

2,362,093

1,870,703

491,390

259.809

668,250

58,801

147,959

29,388

49,384

57,006

124,485

134.810

180,878

97,154

554,169

26,359,025

26,358,829

196

6,990,780

16,547,802

1,750,307

470,264

19,885,308

19,

624,045

16,460,061

1,750,307

465,858

6,473,717

6,473,521

196

6,366,735

87,741

4,406

73,053 58,218 14,835

221,921

304,898

221,921

‘304 ,'898

3,350

3,353

66,258

3,218

33,588

4,436

1,721,496

111,320

99,980

23,775

1,621,516

87,545

9,710

10,920

37,141

14,183

87,344

141,400

54,056 39,829 14,227

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.........

Louisiana..........

Maine................

Maryland.........

Massachusetts.

Michigan...

Minnesota..

Mississippi.

Missouri. . .

Montana. ..

Nebraska............

Nevada...............

New Hampshire.

New Jersey.........

New Mexico.

New York........ .

North Carolina.

North Dakota. .

Ohio.....................

Oklahoma..........

Oregon..............

Pennsylvania. .

Rhode Island. .

South Carolina.

South Dakota..

Tennessee.

Texas.........

Utah..........

Vermont. .

Virginia. . .

Washington. ..

West Virginia.

Wisconsin. . . .

Wyoming. . . .

Other area

Alaska...................

American Samoa.

Hawaii...................

Mariana Islands4.

Panama Canal Zone4

Puerto Rico4............

Virgin Islands..........

371 371 354

172 172 171

93 61 54

160 152 151

365 177 171

429 429 419

680 679 667

197 197 194

600 600 581

110 110 110

419 419 375

8 8 8

110 76 63

330 307 304

52 52 52

689 560 549

224 224 223

154 154 149

637 634 629

384 384 376

48 47 45

866 859 843

18 10 8

151 151 139

170 170 170

297 297 290

925 925 886

54 54 54

72 65 64

316 316 316

111 107 104

183 183 179

558 554 548

53 53 53

19 19 9

1 1

10 10 3

10 10 7

3 2 2

38

13

4

39

32

8

188

129 129

241

188

23

1,967,404

2,412,774

828,080

2,480,647

8,879,885

7,242,286

3,696,678

964,895

5,290,521

687,090

1,549,516

279,923

683,134

6,518,779

489,542

52,602,369

2,325,488

623,624

9,686,705

2,142,813

1,767,692

13,551,746

1,154,702

838,998

591,362

2,558,551

9,617,646

788,390

394,248

2,567,999

2,613,742

1,057,392

3,677,930

332,887

147,615

1,236

408,858

26,336

21,045

305,352

8,507

1,967,404

2,412,774

533,767

2,010,383

4.720.487

7,242,286

3,474,757

964,895

5,290,521

687,090

1,549,516

279,923

322,433

5,580,805

489,542

37,104,057

2.325.488

623,624

9,316,629

2,142,813

1,739,682

12,171,515

802,523

838,998

591,362

2,558,551

9,617,646

788,390

291,555

2,567,999

2,336,854

1,057,392

3,658,933

332,887

147,615

1,236

408,858

26,336

21,045

305,352

8,311

1,949,124

2,411,902

493,594

1,904,374

4,611,093

7,205,681

3,461,707

956,137

5,269,063

687,090

1,517,634

279,923

270,263

5,580,306

489,542

36,477,313

2,301,675

501,864

9,311,070

2,138,435

1,730,721

12,118,273

778,039

833,456

591,362

2,552,258

9.524.714

788,390

291,555

2,567,999

2,312,723

1,044,797

3.652.715

332,887

113,021

' 87,250

268,781

8,311

18,280

872

40,173

106,009

109,394

36,605

13,050

8,758

21,458

294,313

470,264

4,159,398

44,671

465,858

249,642

4,406

4,159,398

221,921 221,921

31,882

52,170

499

360,701

937,974

202,898

937,974

157,803

626,744

23,813

121,760

5,559

4,378

8,961

53,242

24,484

5,542

15,498,312 15,498,312

370,076 370,076

28,010

1,380,231

352,179

28,010

1,380,231

173,803 178,376

6,293

92,932

102,693 102,693

24,131

12,595

6,218

276,888 276,888

18,997 18,389 608

34,594

1,236

371,608

26,336

21,045

36,571

196 196

1 Includes 21 noninsured banks of deposit (15 in Georgia, 2 in Iowa, and 4 in Texas) for which deposits are not available.

2 Includes Puerto Rico and the Virgin Islands.

* Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone.

4 Includes deposit data for the following branches of insured banks in continental United States: 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: See the Annual Report for 1953, pp. 90-91, and earlier reports.

CDNUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
A sse t s a n d L ia b il it ie s o f O p e r a t in g B a n k s

Table 104.

Table 105.

Table 106.

Table 107. 

Table 108.

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

and other areas), June 30, 1954 

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, 1954

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, 1954 

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, 1954, June 30, 1954, and December 31, 1953

Assets and liabilities of operating insured commercial banks in the United States 

(continental U. S. and other areas), June 30, 1954 

Banks grouped according to amount of deposits

The data in these tables relate to banks operating in the United

States (continental U. S. and other areas). Data from the same tabulations for all operating banks in each State and other area are also

shown in the Corporation’s publication, ‘‘Assets, Liabilities, and

Capital Accounts, Commercial and Mutual Savings Banks,” as follows:

For June 30, 1954 Report No. 41, pp. 4-5

For December 31, 1954 Report No. 42, pp. 4-5

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Statements of assets and liabilities are submitted by insured commercial banks upon either a cash or an accrual basis, depending upon

the bank’s method of bookkeeping. Assets reported represent aggregate

book value, on the date of call, less valuation and premium reserves.

Assets and liabilities held in or administered by a savings, bond,

insurance, real estate, foreign, or any other department of a bank,

except a trust department, are consolidated with the respective assets

and liabilities of the commercial department. “Deposits of individuals,

partnerships, and corporations” include trust funds deposited by a trust

department in a commercial or savings department. Other assets held

in trust are not included in statements of assets and liabilities.

In the case of banks with one or more domestic branches, the assets

and liabilities reported are consolidations of figures for the head office

and all domestic branches. In the case of a bank with foreign branches,

net amounts due from its own foreign branches are included in “Other

assets,” and net amounts due to its own foreign branches are included

in “Other liabilities.” Branches outside the continental United States

of insured banks in the United States are treated as separate entities

but as in the case of other branches are not included in the count of

banks. Data for such branches are not included in the figures for the

States in which the parent banks are located. Asset and liability data

for nine branches in Puerto Rico of two national banks in New York

are included with insured bank figures for Puerto Rico and for all

insured banks.

Demand balances with and demand deposits due to banks in the

United States, except private banks and American branches of foreign

banks, exclude reciprocal interbank deposits. Reciprocal interbank

deposits arise when two banks maintain deposit accounts with each

other.

Individual loan items are reported gross instead of net of valuation

reserves. Accordingly, reserves for losses on loans are shown separately.

Instalment loans are ordinarily reported net if the instalment payments are applied directly to the reduction of the loan. Such loans are

reported gross if, under contract, the payments do not immediately

reduce the unpaid balances of the loan but are assigned or pledged to

assure repayment at maturity.

Total deposits shown in these tables are not the same as the deposits

upon which assessments paid to the Federal Deposit Insurance Corporation are based. The assessment base is slightly lower due to certain

exclusions 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 of 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

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 104. A s se ts a n d L ia b il it ie s o f O p e r a t in g B a n k s in th e Un 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, 1954

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars) *

__________________________________________________________________________________________________________________________________________________________ to

All banks Commercial and stock savings banks and

nondeposit trust companies Mutual savings banks

Noninsured

Asset, liability, or capital account item

Total Insured Non

insured Total Insured Banks

of

deposit

Nondeposit

trust

companies1

Total Insured Noninsured

Total assets................................................................... 219,918,384 209,880,349 10,038,035 191,602,804 188,643,046 2,753,129 206,629 28,315,580 21,237,303 7,078,277

Cash, balances with other banks, and cash

collection items— total................................ 42,732,326 42,048,005 684,321 41,745,151 41,241,315 443,504 60,332 987,175 806,690 180,485

Currency and coin................................................. 2,828,710 2,740,042 88,668 2,710,524 2,651,962 57,069 1,493 118,186 88,080 30,106

Reserve with F. R. banks (member banks). . 18,925,459 18,925,459 18,924,021 18,924,021 1,438

537,173

1,438

Demand balances with banks in U. S.............. 11,613,932 11,083,875 530,057 11,076,759 10,683,419 ’345,200 48,140 400,456 136,717

Other balances with banks in U. S................... 345,873 334,667 11,206 46,778 40,930 5,803 45 299,095 293,737 5,358

Balances with banks in foreign countries. . . . 73,666 62,246 11,420 73,666 62,246 2,162 9,258

Cash items in process of collection................... 8,944,686 8,901,716 42,970 8,913,403 8,878,737 33,270 1,396 ........ 31,283 ........ 22,979 ........ 8,304

Securities— total..................................................... 92,462,165 87,106,262 5,355,903 79,392,923 77,789,158 1,504,000 99,765 13,069,242 9,317,104 3,752,138

U. S. Gov’t, obligations (incl. guaranteed).. . 72,783,745 68,870,470 3,913,275 63,766,854 62,561,094 1,151,923 53,837 9,016,891 6,309,376 2,707,515

Obligations of States and subdivisions............ 12,519,716 12,167,365 352,351 11,987,114 11,715,908 248,704

77,058

22,502 532,602 451,457 81,145

Other bonds, notes, and debentures................. 6,216,431 5,477,028 739,403 3,215,861 3,133,702 5,101

18,325

3,000,570 2,343,326 657,244

Corporate stocks.................................................... 942,273 591,399 350,874 423,094 378,454 26,315 519,179 212,945 306,234

Loans and discounts, net— total..................... 81,652,892 77,814,796 3,838,096 67,762,594 67,010,534 724,730 27,330 13,890,298 10,804,262 3,086,036

Valuation reserves..................................................... 1,177,860 1,160,127 17,733 993,250 991,086 2,127 37 184,610 169,041 15,569

Loans and discounts, gross— total................. 82,830,752 78,974,923 3,855,829 68,755,844 68,001,620 726,857 27,367 14,074,908 10,973,303

41,430

3,101,605

Commercial and industrial loans....................... 26,320,712 26,110,497 210,215 26,274,765 26,069,067 205,601 97 45,947 4,517

Loans to farmers directly guaranteed by the

Commodity Credit Corporation................... 1,943,759

3,225,361

2,461,698

1,283,045

1,919,223

3,156,458

2,439,008

1,233,471

24,536

68,903

22,690

49,574

1,943,759

3,223,685

2,461,698

1,278,117

1,919,223

3,154,903

2,439,008

1,230,387

24,536

68,711

22,690

38,383

Other loans to farmers (excl. real estate) ....

Loans to brokers and dealers in securities... .

71 1,676 1,555 121

Other loans for carrying securities................... 9,347 4,928 3,084 1,844

Real estate loans— total....................................... 31,262,645 27,988,276 3,274,369 17,381,949 17,149,150 217,129 15,670 13,880,696 10,839,126 3,041,570

Farm land............................................................ 1,19 b,635 1,162,368 32,267 1,139,935 1,120,669 18,376 890 5 b,7 00 bl ,699 13,001

Residential properties:

Insured by FH A ............................................ 7,621,181 7,196,892 b2b,289 3,961,937 3,90b,59b 55,671 1,672 3,659,2bb 3,292,298 366,9b6

Insured or guaranteed by V A ...................... 6,696,359 5,756,989 939,370 3,117 ,b70 3,080,723 3b,996 1,751 3,578,889 2,676,266 902,623

Not insured or guaranteed by FHA or V A . 11,095,202 9,562,59b 1,532,608 6,152,797 6,070,652 73,3b0 8,805 b,9b2,b05 3,b91,9b2 I,b50,b63

Other properties................................................... 1.655,268 b,309,b33 3b5,835 3,009,810 2,972,512 3b,7b6 2,552

561

I,6b5,b58 1,336,921 308,537

Other loans to individuals................................... 14,646,790 14,482,850 163,940 14,523,351 14,411,508 111,282 123,439 71,342 52,097

Loans to banks....................................................... 176,027 175,953 74 176,027 175,953 74

All other loans (including overdrafts)............. 1,510,715 1,469,187 41,528 1,492,493 1,452,421 38,451 ........ 1,621 .........18,222 ........ 16,766 .........1,456

Miscellaneous assets— tota l.............................. 3,071,001 2,911,286 159,715 2,702,136 2,602,039 80,895 19,202 368,865 309,247 59,618

Bank premises owned, furniture and fixtures. 1,623,789 1,571,006

124,180

52,783 1,469,733 1,449,805 13,735 6,193 154,056 121,201 32,855

Other real estate— direct and indirect............. 138,793 14,613 134,232 121,331 5,196 7,705 4,561 2,849 1,712

All other miscellaneous assets............................ 1,308,419 1,216,100 92,319 1,098,171 1,030,903 61,964 5,304 210,248 185,197 25,051

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— to ta l........

Deposits of individuals, partnerships, and

corporations— demand.....................................

Deposits of individuals, partnerships, and

corporations— time............................................

Certified and officers’ checks, cash letters of

credit and travelers' checks outstanding,

and amounts due to Federal Reserve banks.

Government deposits— total.............................

United States Government— demand..............

United States Government— time.....................

States and subdivisions— demand.....................

States and subdivisions— time...........................

Interbank and postal savings deposits—

tota l.....................................................................

Banks in the United States— demand.............

Banks in the United States— time....................

Banks in foreign countries— demand...............

Banks in foreign countries— time.....................

Postal savings.........................................................

219,918,384 209,880,349 10,038,035 191,602,804 188,643,046 2,753,129 206,629 28,315,580 21,237,303 7,078,277

166,459,136

94,641,955

69,005,378

2,811,803

158,523,624

93,502,360

62,242,299

2,778,965

7,935,512

1,139,595

6,763,079

32,838

141,043,076

94,604,104

43,633,032

2,805,940

139,350,542

93,465,182

43,111,876

2,773,484

1,595,286

1,042,840

520,061

32,385

97,248

96,082

1,095

71

25,416,060

37,851

25,372,346

5,863

19,173,082

37,178

19,130,423

5,481

6,242,978

673

6,241,923

382

18,395,722

5,667,003

313,546

10,015,879

2,399,294

18,040,374

5,584,002

312,759

9,830,326

2,313,287

355,348

83,001

787

185,553

86,007

18,373,952

5,664,025

313,463

10,013,005

2,383,459

18,021,388

5,581,947

312,748

9,827,702

2,298,991

352,564

82,078

715

185,303

84,468

21,770

2,978

83

2,874

15,835

18,986

2,055

11

2,624

14,296

2,784

923

72

250

1,539

15,546,311

12,483,941

245,638

1,329,841

1,456,176

30,715

15,088,323

12,262,352

65,679

1,287,512

1,442,707

30,073

457,988

221,589

179,959

42,329

13,469

642

15,543,670

12,483,591

243,347

1,329,841

1,456,176

30,715

15,085,769

12,262,002

63,475

1,287,512

1,442,707

30,073

457,812

221,501

179,872

42,328

13,469

642

89

88

1

2,641

350

2,291

2,554

350

2,204

87

87

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

200,401,169

126,950,1*22

73,1*50,71*7

191,652,321

125,21*5,517

66,1*06,801*

8,748,848

1,701*,905

7,01*3,91*3

174,960,698

126,900,506

1*8,060,192

172,457,699

125,197,829

1*7,259,870

2,405,662

1,606,1*35

799,227

97,337

96,21*2

1,095

25,440,471

1*9,916

25,390,555

19,194,622

1*7,688

19,11*6,931*

6,245,849

2,228

6,21*3,621

2,759,349

55,575

2,703,774

2,619,655

49,636

2,570,019

139,694

5,939

133,755

2,510,023

55,325

2,454,698

2,444,477

49,636

2,394,841

57,213

4,147

53,066

8,333

1,542

6,791

249,326

250

249,076

175.178

175.178

74,148

250

73,898

203,160,518 194,271,976 8,888,542 177,470,721 174,902,176 2,462,875 105,670 25,689,797 19,369,800 6,319,997

16,757,866

274,337

24,205,831

8,421,667

4,056,031

15,608,373

252,894

24,084,117

7,837,495

3,633,867

1,149,493

21,443

121,714

584,172

422,164

14,132,083

274,337

24,205,831

6,574,434

3,277,481

13,740,870

252,894

24,084,117

6,436,175

3,167,684

290,254

21,421

84,175

100,955

83,703

100,959

22

37,539

37,304

26,094

2,625,783

(3)

1,867,503

(3)

758,280

Surplus.....................................................................

Undivided profits and reserves.......................... 1,847,233

778,550

1,401,320

466,183

445,913

312,367

Number of banks4.......................................................... 14,507 13,619 888 13,978 13,400 519 59 529 219 310

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 Revised.

3 Not reported separately. Included with “Undivided profits and reserves” .

4 Includes 14 noninsured banks of deposit for which asset and liability data are not available.

Back figures: See the Annual Report for 1953, pp. 94-95, and earlier reports.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 105. A s s e t s an d L ia b i lit i e s o f O p e r a tin g B a n k s in t h e U n ite d S t a t e s (C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31, 1954

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars)

All banks

Commercial and stock savings banks and

nondeposit trust companies Mutual savings banks

Noninsured

Asset, liability, or capital account item

Total Insured Non

insured Total Insured Banks

of

deposit

Nondeposit

trust

companies1

Total Insured Noninsured

Total assets................................................................... 232,684,756 222,569,263 10,115,493 203,408,437 200,588,294 2,613,922 206,221 29,276,319 21,980,969 7,295,350

Cash, balances with other banks, and cash

collection items— total............................... 44,754,244 44,067,192 687,052 43,728,246 43,235,072 438,138 55,036 1,025,998 832,120 193,878

Currency and coin................................................. 2,657,128 2,570,819 86,309 2,524,574 2,471,431 51,623 1,520 132,554 99,388 33,166

Reserve with F. R. banks (member banks). . 18,734,993 18,734,993 18,733,765 18,733,765 1,228 1,228

Demand balances with banks in U. S.............. 12,817,338 12,280,362 536,976 12,235,698 11,842,267 341,267 52,164 581,640 438,095 143,545

Other balances with banks in U. S................... 317,611 310,535 7,076 47,250

127,542

44,850 2,200 200 270,361 265,685 4,676

Balances with banks in foreign countries. . . . 127,542 118,374 9,168 118,374 8,980 188

Cash items in process of collection................... 10,099,632 10,052,109 47,523 10,059,417 10,024,385 34,068 964 .........40,215 ........ 27,724 12,491

Securities— total...................................................... 98,523,820 93,320,806 5,203,014 85,652,866 84,141,771 1,406,718 104,377

57,695

12,870,954 9,179,035 3,691,919

U. S. Gov’t, obligations (incl. guaranteed).. . 78,004,064 74,237,957 3,766,107 69,256,500 68,120,866 1,077,939 8,747,564 6,117,091 2,630,473

Obligations of States and subdivisions............ 13,244,468 12,896,494 347,974 12,644,775 12,387,053 234,269 23,453 599,693 509,441 90,252

Other bonds, notes, and debentures................. 6,265,784 5,549,123 716,661 3,313,427 3,241,610 67,967 3,850 2,952,357 2,307,513 644,844

Corporate stocks.................................................... 1,009,504 637,232 372,272 438,164 392,242 26,543 19,379 571,340 244,990 326,350

Loans and discounts, net— total..................... 86,058,272 81,992,410 4,065,862 71,060,678 70,341,295 692,082 27,301 14,997,594 11,651,115 3,346,479

Valuation reserves...................................................... 1,266,439 1,246,384 20,055 1,073,042 1,070,973 2,030 39 193,397 175,411 17,986

Loans and discounts, gross— total................. 87,324,711 83,238,794 4,085,917 72,133,720 71,412,268 694,112 27,340 15,190,991 11,826,526 3,364,465

Commercial and industrial loans....................... 27,059,881 26,858,847 201,034 27,021,021 26,823,376 197,501 144 38,860 35,471 3,389

Loans to farmers directly guaranteed by the

2,234,381

2,892,563

2,906,509

Pnmmn/Hfv rinrnnratirtTi 2,269,371

2,957,313

2,929,478

2,234,381

2,894,076

2,906,509

34,990

63,237

22,969

2,269,371

2,955,679

2,929,478

34.990

62.991

21,469

Other loans to farmers (excl. real estate) ....

Loans to brokers and dealers in securities.. . .

125

1,500

4,433

1,634 1,513 121

Other loans for carrying securities.................... 1,551,073 1,505,776 45,297 1,545,947 1,502,690 38,824 5,126 3,086 2,040

Real estate loans— total...................................... 33,580,317 30,047,263 3,533,054 18,573,463 18,347,430 207,476 18,557 15,006,854 11,699,833 3,307,021

Farm land............................................................ 1,211*,61*1* 1,181,968 82,676 1,158,606 1,189,801* 18,1*21* 878 56,038 1*2,661* 13,871*

Residential properties:

Insured bv F H A .....................\ .................... 7,906,333 7,1*58,776 1*52,557 1*,106,11*7 1*,052,582 51,186 2,379 3,800,186 3,1*01,191* 898,992

Insured or guaranteed by V A ...................... 7,612,627 6,558,085 1,05 U, 51*2 8,350,601 8,811,980 85,857 2,811* 1*,262,026 3,21*6,155 1,015,871

Not insured or guaranteed by FHA or V A . 11,81*1*,186 10,211,1*51* 1,682,732 6,695,1*61 6,611*, 870 70,978 10,118 5,11*8,725 3,597,081* 1,551,61*1

Other properties................................................... 5,002-527 1^,61*1,980 360,51*7 3,262,61*8 3,229,21*1* 81,036 2,368 1,789,879 1,1*12,736 327,11*3

Other loans to individuals................................... 14,941,728 14,789,580 152,148 14,822,099 14,720,160 100,817 1,122 119,629 69,420 50,209

Loans to banks....................................................... 240,281 239,932 349 240,281 239,932 349

All other loans (including overdrafts)............. 1,795,269 1,762,430 32,839 1,776,381 1,745,227 29,695 .........1,459 .........18,888 ........ 17,203 .........1,685

Miscellaneous assets— tota l............................... 3,348,420 3,188,855 159,565 2,966,647 2,870,156 76,984 19,507 381,773 318,699 63,074

Bank premises owned, furniture and fixtures. 1,706,099 1,651,159 54,940 1,542,198

136,119

1,522,620 13,263 6,315 163,901 128,539 35,362

Other real estate— direct and indirect............. 140,325 125,698 14,627 123,896 5,091 7,132

6,060

4,206 1,802 2,404

All other miscellaneous assets............................ 1,501,996 1,411,998 89,998 1,288,330 1,223,640 58,630 213,666 188,358 25,308

124 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— tota l.........

Deposits of individuals, partnerships, and

corporations— demand.....................................

Deposits of individuals, partnerships, and

corporations— time...........................................

Certified and officers’ checks, cash letters of

credit and travelers' checks outstanding,

and amounts due to Federal Reserve banks.

Government deposits— total.............................

United States Government— demand..............

United States Government— time..............

States and subdivisions— demand.....................

States and subdivisions— time...........................

Interbank and postal savings deposits—

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

232,684,756 222,569,263 10,115,493 203,408,437 200,588,294 2,613,922 206,221 29,276,319 21,980,969 7,295,350

178,107,886

103,858,694

71,031,036

3,218,156

170,037,691

102,755,402

64,091,963

3,190,326

8,070,195

1,103,292

6,939,073

27,830

151,776,557

103,817,720

44,745,829

3,213,008

150,177,045

102,715,265

44,276,220

3,185,560

1,511,170

1,015,250

468,544

27,376

88,342

87,205

1,065

72

26,331,329

40,974

26,285,207

5,148

19,860,646

40,137

19,815,743

4,766

6,470,683

837

6,469,464

382

17,063,899

4,249,484

351,422

9,981,962

2,481,031

16,739,173

4,181,378

347,195

9,811,119

2,399,481

324,726

68,106

4,227

170,843

81,550

17,038,999

4,245,481

351,340

9,978,243

2,463,935

16,717,221

4,178,286

347,184

9,807,800

2,383,951

321,778

67,195

4,156

170,443

79,984

24,900

4,003

82

3,719

17,096

21,952

3,092

11

3,319

15,530

2,948

911

71

400

1,566

16,858,556

13,523,051

335,652

1,541,669

1,425,992

32,192

16,417,667

13,398,448

77,024

1,497,722

1,412,924

31,549

440,889

124,603

258,628

43,947

13,068

643

16,855,760

13,522,700

333,207

1,541,669

1,425,992

32,192

16,414,957

13,398,097

74,665

1,497,722

1,412,924

31,549

440,652

124,454

258,542

43,945

13,068

643

151

149

2

2,796

351

2,445

2,710

351

2,359

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

212,030,341

136,373,016

75,657,325

203,194,531

134,831*,395

68,360,136

8,835,810

1,538,621

7,297,189

185,671,316

136,318,821

49,352,495

183,309,223

134,782,730

48,526,493

2,273,600

1,448,663

824,937

88,493

87,428

1,065

26,359,025

54,195

26,304,830

19,885,308

51,665

19,833,643

6,473,717

2,530

6,471,187

3,290,171

32,915

3,257,256

3,176,449

22,937

3,153,512

113,722

9,978

103,744

3,066,610

32,865

3,033,745

3,000,402

22,887

2,977,515

54,240

7,987

46,253

11,968

1,991

9,977

223,561

50

223,511

176,047

50

175,997

47.514

47.514

215,320,512 206,370,980 8,949,532 188,737,926 186,309,625 2,327,840 100,461 26,582,586 20,061,355 6,521,231

17,364,244

70,192

4,358,002

8,894,710

4,041,340

16,198,283

48,749

4,238,167

8,299,672

3,611,695

1,165,961

21,443

119,835

595,038

429,645

14,670,511

70,192

4,358,002

6,995,005

3,247,312

14,278,669

48,749

4,238,167

6,856,548

3,135,205

286,082

21,421

81,096

99,551

84,014

105,760

22

38,739

38,906

28,093

2,693,733

(2)

1,919,614

(2)

774,119

Surplus.....................................................................

Undivided profits and reserves..........................

1,899,705

794,028

1,443,124

476,490

456,581

317,538

Number of banks3.......................................................... 14,409 13,541 868 13,881 13,323 497 61 528 218 310

1 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

2 Not reported separately. Included with “ Undivided profits and reserves” .

3 Includes 21 noninsured banks of deposit for which asset and liability data are not available.

Back figures, 1931-1953: See the preceding table and the Annual ReDort for 1953, pp. 96-97, and earlier reports.

to

C71 ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 106. A s s e t s a n d L ia b i lit i e s o f O p e r a tin g B a n k s in t h e U n ite d S t a t e s (C o n t in e n t a l U . S. an d O t h e r A r e a s ), D e c e m b e r 31, 1954

BANKS GROUPED BY DISTRICT AND STATE

(Amounts in thousands of dollars)

Assets Liabilities and capital accounts

FDIC District

and State

Number of

banks1 Total

Deposits

Cash and

due from

banks

U. S. Government

obligations

Other

securities

Loans, discounts, and

overdrafts

Miscellaneous

assets

Business

and

personal2

Government3

Interbank4

Miscellaneous

liabilities

Total

capital

accounts

Total United States.. . 14,409 44,754,244 78,004,064 20,519,756 86,058,272 3,348,420 232,684,756 178,107,886 17,063,899 16,858,556 3,290,171 17,364,244

Continental U. S___ 14,366 44,583,702 77,727,053 20,438,983 85,614,543 3,285,213 231,649,494 177,434,631 16,833,878 16,842,883 3,268,614 17,269,488

Other areas................. 43 170,542 277,011 80,773 443,729 63,207 1,035,262 673,255 230,021 15,673 21,557 94,756

FDIC District

District 1....................... 835 2,121,175 5,954,564 1,797,930 7,412,256 234,156 17,520,081 14,464,328 694,890 522,561 201,519 1,636,783

District 26..................... 1,068 11,047,341 20,199,957 6,373,407 28,427,856 1,256,525 67,305,086 50,740,002 3,040,859 6,321,040 1,504,816 5,698,369

District 3 ....................... 1,503 4,714,770 8,803,308 2,945,904 8,789,554 320,761 25,574,297 20,512,123 1,625,205 1,101,123 239,368 2,096,478

District 4 ....................... 1,051 2,567,525 4,049,912 905,145 3,878,716

2,664,125

179,755 11,581,053 8,696,660 1,113,361 796,191 125,161 849,680

District 5....................... 1,058 2,073,000 2,766,402 698,043 113,083 8,314,653 5,977,159 1,025,182 672,071 77,425 562,816

District 6 ....................... 1,499 2,951,179

3,125,138

3,802,251 777,647 4,068,670 113,918 11,713,665 8,263,745 1,015,998 1,521,862 97,325 814,735

District 7....................... 1,465 6,678,362 1,228,363 4,951,399 156,410 16,139,672 13,055,195 1,398,437 546,566 145,669 993,805

District 8....................... 1,575 3,991,582 7,760,978 1,617,523 5,795,118 135,396 19,300,597 14,858,942 1,430,670 1,582,742 136,788 1,291,455

District 9 ....................... 1,114 1,203,122 2,202,490 513,282 2,079,131 48,440 6,046,465 4,553,503 608,503 436,748 48,369 399,342

District 10..................... 1,619 2,081,331 2,779,538 651,709 2,663,125 62,943 8,238,646 6,015,676 981,831 635,307 44,875 560,957

District 11..................... 1,162 4,139,026 4,093,140 845,637 4,880,563 246,011 14,204,377 9,845,746 1,601,674 1,766,745 123,392 866,820

District 12•................... 460 4,739,055 8,913,162 2,165,166 10,447,759 481,022 26,746,164 21,124,807 2,527,289 955,600 545,464 1,593,004

State

Alabama........................ 234 410,593 549,306 181,218 530,940 20,293 1,692,350 1,260,499 199,566 95,552 14,235 122,498

Arizona.......................... 13 135,115 242,494 64,789

98,339

296,917 16,508 755,823 584,542 96,347 13,314 12,093 49,527

Arkansas....................... 231 300,018 346,652 316,767 8,374 1,070,150 809,483 101,800 73,846 3,967 81,054

California...................... 171 3,380,282 6,645,310 1,593,097 7,653,343 353,443 19,625,475 15,512,599 1,742,982 764,795 472,873 1,132,226

Colorado....................... 161 416,968 617,906 69,263 555,901 11,767 1,671,805 1,300,080 130,135 122,948 12,967 105,675

Connecticut.................. 177 495,619 1,454,284 557,254 1,572,265 57,854 4,137,276 3,554,818 138,603 48,309 35,912 359,634

Delaware....................... 36 108,776 248,680 105,005 279,347 9,598 751,406 609,685 51,051 6,158 7,571 76,941

District of Columbia.. 17 339,675 505,730 69,593 501,630 24,866 1,441,494 1,196,505 48,558 90,625 13,832 91,974

Florida........................... 226 788,880 1,246,082

672,144

224,873 867,968 46,141 3,173,944 2,263,936 426,777 264,311 25,530 193,390

Georgia.......................... 401 605,827 149,855 944,299 33,629 2,405,754 1,703,191 256,754 238,931 30,760 176,118

Idaho.............................. 38 98,528 212,074 21,711 231,330 5,274 568,917 452,874 72,782 6,827 4,259 32,175

Illinois............................ 910 3,403,846 6,719,872 1,369,033 4,760,786

1,226,116

116,634 16,370,171 12,587,229 1,137,779 1,440,157 130,151 1,074,855

Indiana.......................... 478 948,589 1,916,474 253,538 36,454 4,381,171 3,425,561 510,198 144,223 30,743 270,446

Iowa................................ 665 587,736 1,041,106 248,490 1,034,332 18,762 2,930,426 2,271,713 292,891 142,585 6,637 216,600

Kansas........................... 602 522,329 715,947 231,696 729,243 12,908 2,212,123 1,530,187 416,758 107,490 8,342 149,346

126 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 Y ork.. . .

North Carolina

North Dakota

Ohio.................

Oklahoma. . . .

Oregon............

Pennsylvania.

Rhode Island.

South Carolina

South Dakota.

Tennessee. . . .

Texas...............

Utah................

Vermont.........

Virginia...........

Washington...

West Virginia.

Wisconsin. . . .

Wyoming........

Other area

Alaska.

American Samoa.

Hawaii.

Mariana Islands7.

Panama Canal Zone7.

Puerto Rico7. . . .

Virginia Islands.

871

172

93

160

365

429

680

197

600

110

419

8

110

330

52

689

224

154

637

384

48

866

18

151

170

297

925

54

72

316

111

183

558

53

575,309

709,074

122,226

455,207

1,220,691

1,436,096

810,214

267,700

1,358,442

164,823

388,643

50,001

82,877

1,012,417

153,542

9,874,384

625,460

105,236

2,021,290

661,144

360,227

2,693,480

147,133

236,221

122,849

717,410

3,141,295

187,663

52,629

651,079

543,576

259,883

740,453

92,247

29,058

432

82,650

1,709

4,929

50,118

1,646

749,031

910,188

331,883

1,092,540

3,361,943

3,172,960

1,336,758

298.870

1,888,026

300,661

609,247

125,268

256,343

2,513,423

191,496

17,367,937

747,101

310,671

4,036,279

691,549

618,788

4,767,029

433,314

320,597

254,400

818,542

2,748,962

290,786

116,797

909,074

813,842

474.870

1,588,928

144,889

71,822

866

132,671

1,'735

66,709

3,208

91,764

204,608

113,642

235,399

886,618

672,386

369,828

142,097

411,354

51,733

132,692

15,145

79,848

941,123

16,000

5,287,144

269,944

58,846

787,224

199,461

185,343

2,158,680

131,179

78,756

32,875

176,190

560,240

44,422

29,389

183,654

264,810

67,799

302,439

18,597

707,047

718,796

350,527

864,119

4,362,539

2,436,714

1,457,401

320,918

2,017,756

204,389

531,861

103,700

349,398

2,513,373

152,549

25,436,814

874,327

195,719

3,506,788

747,501

729,108

5,282,766

542,537

265,227

221,622

1,027,100

3,712,301

315,202

234,990

1,014,263

1,169,669

359,150

1,288,569

98,619

40,869

87

197,627

5,584

1,240

194,439

3,883

16,089

31,118

11,125

59,794

135,009

83,485

33,816

13,020

49,348

5,570

11,676

4,669

6,589

102,582

5,657

1,125,535

33,188

4,110

114,291

23,656

28,696

206,470

18,537

9,186

4,944

40,107

192,728

8,624

5,042

39,669

35,919

13,052

36,471

2,936

2,366

18

9,636

19,232

13,145

18,642

168

2,139,240

2,573,784

929,403

2,707,059

9,966,800

7,801,641

4,008,017

1,042,605

5,724,926

727,176

1,674,119

298,783

775,055

7,082,918

519,244

59,091,814

2,550,020

674,582

10,465,872

2,323,311

1,922,162

15,108,425

1,272,700

909,987

636,690

2,779,349

10,355,526

846,697

438,847

2,797,739

2,827,816

1,174,754

3,956,860

357,288

155,967

1,403

451,370

26,525

21,049

369,550

9,398

1,580,577

1,665,781

768,454

2,145,487

8.045.421

6,346,256

2,992,772

749,533

3,981,942

576,908

1,242,664

232,445

641,546

5,930,912

367,134

43,979,904

1,747,019

475,042

8,478,442

1,670,791

1,529,455

12,033,681

1.080.421

665,581

508,781

1,891,743

7,228,289

630,935

373,668

2,052,830

2,312,745

889,238

3,283,378

271,954

95,939

749

335,435

11,427

10,204

212,941

6,560

167,216

451,860

46,793

224,426

400,196

652,924

326,987

142,085

481,726

76,091

144,828

45,974

30,136

506,460

106,832

2,395,783

281,803

135,502

832,210

242,041

207,034

792,995

60,388

144,947

69,923

265,256

946,635

103,678

18,774

293,312

212,383

120.315

235.315

48,069

49,769

449

67,763

14,897

9,578

85,637

1,928

219,611

295,133

12,833

110,734

434,268

243,106

376,919

73,277

826,853

34,091

162,024

1,504

11,452

81,407

15,576

6,226,682

296,666

13,080

376,053

229,981

31,203

725,070

13,893

28,470

12,658

401,552

1,442,722

53,777

1,806

221,857

88,614

47,839

159,237

12,864

1,907

38

5,660

12

1,263

6,774

19

14,674

19,105

5,817

22,265

136,693

94,300

36,759

6,900

47,042

4,861

7,688

3,122

5,278

61,412

2,302

1,418,565

44,872

3,510

96,707

14,169

24,081

142,661

14,978

8,108

3,239

31,642

89,892

7,847

2,841

26,360

28,993

9,724

20,626

1,709

517

4

3,575

189

4

17,168

100

157,162

141,905

95,506

204,147

950,222

465,055

274,580

70,810

387,363

35,225

116,915

15,738

86,643

502,727

27,400

5,070,880

179,660

47,448

682,460

166,329

130,389

1,414,018

103,020

62,881

42,089

189,156

647,988

50,460

41,758

203,380

185,081

107,638

258,304

22,692

7,835

163

38,937

47,030

791

1 Includes 21 noninsured banks of deposit (15 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.

s Deposits of the United States Government and of States and subdivisions.

4 Interbank deposits and postal savings deposits.

* Includes Puerto Rico and the Virgin Islands.

• Includes Alaska, American Samoa, Hawaii, Mariana Islands, and the Panama Canal Zone.

7 Includes^ asset and liability data for the following branches of insured banks in continental United States: 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, 19^5-195S: See the Annual Report for 1953, pp. 98-99, and earlier reports.

toASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 107. A sse ts a n d L ia b il it ie s o f O p e r a t in g I n su r e d B a n k s in t h e U n it e d 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, 1954, Ju n e 30, 1954, an d D e c e m b e r 31, 1953

(Amounts in thousands of dollars)

Assets

All insured banks

Dec. 31,

1954

June 30,

1954

Dec. 31,

1953

Insured commercial banks1

Dec. 31,

1954

June 30,

1954

Dec. 31,

1953

Insured mutual savings banks

Dec. 31,

1954

June 30,

1954

Dec. 31,

1953

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

Cash, balances with other banks, and cash collection items— total...................................................

Currency and coin..............................................................

Reserve Math 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— tota l..................................................

Direct:

Treasury bills..............................................................

Treasury certificates of indebtedness...................

Treasury notes...........................................................

United States non-marketable bonds...................

Other bonds maturing in 5 years or less.............

Other bonds maturing in 5 to 10 years...............

Other bonds maturing in 10 to 20 years.............

Other bonds maturing after 20 years...................

Guaranteed obligations (FHA debentures).............

Other securities— total.................................................

Obligations of States and subdivisions.....................

Other bonds, notes, and debentures.........................

Corporate stocks:

Federal Reserve banks.............................................

Other corporate stocks.............................................

Total securities...................................................

222,569,263 209,880,349 211,396,426 200,588,294 188,643,046 191,062,625 21,980,969 21,237,303 20,333,801

44,067,192

2,570,819

18,734,993

12,280,362

310,535

118,374

10,052,109

74,237,957

4,960,450

5,298,918

14,694,348

3,804,641

12,686,271

24,121,214

8,509,786

135,614

26,715

19,082,849

12,896,494

5,549,123

287,518

349,714

93,320,806

42,048,005

2,740,042

18,925,459

11,083,875

334,667

62,246

8,901,716

45,277,380

2,602,167

19,996,858

12,163,830

278,796

63,691

10,172,038

43,235,072

2,471,431

18,733,765

11,842,267

44,850

118,374

10,024,385

41,241,315

2,651,962

18,924,021

10,683,419

40,930

62,246

8,878,737

44,478,304

2,507,547

19,995,369

11,724,184

39,745

63,691

10,147,768

832,120

99,388

1,228

438,095

265,685

806,690

88,080

1,438

400,456

293,737

27,724 22,979

68,870,470

4,645,058

5,562,650

12,375,743

3,811,252

13,698,657

20,161,456

8,375,333

180,943

59,378

68,949,419

5,001,393

10,192,949

12,374,101

3,827,064

18,042,732

11,062,264

8,160,431

230,754

57,731

68,120,866

4,907,080

5,282,353

14,544,500

2,557,883

12,486,186

22,978,695

5,286,088

56,842

21,239

62,561,094

4,581,958

5,508,527

12,242,466

2,532,234

13,483,361

19,163,807

4,918,861

91,908

37,972

62,472,935

4,899,579

10,088,104

12,308,414

2,538,490

17,790,496

10,158,499

4,533,070

122,827

33,456

6,117,091

53,370

16,565

149,848

1,246,758

200,085

1,142,519

3,223,698

78,772

5,476

6,309,376

63,100

54,123

133,277

1,279,018

215,296

997,649

3,456,472

89,035

21,406

18,235,792

12,167,365

5,477,028

272,329

319,070

17,138,245

10,980,493

5,628,529

265,131

264,092

16,020,905

12,387,053

3,241,610

287,450

104,792

15,228,064

11,715,908

3,133,702

272,262

106,192

14,378,527

10,620,012

3,386,730

265,067

106,718

3,061,944

509,441

2,307,513

68

244,922

3,007,728

451,457

2,343,326

67

212,878

87,106,262 86,087,664 84,141,771 77,789,158 76,851,462 9,179,035 9,317,104

799,076

94,620

1,489

439,646

239,051

24,270

6,476,484

101,814

104,845

65,687

1,288,574

252,236

903,765

3,627,361

107,927

24,275

2,759,718

360,481

2,241,799

64

157,374

9,236,202

128 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Loans and discounts, net— total.................................

Valuation reserves..................................................................

Loans and discounts, gross— total..............................

Commercial and industrial loans (including open

market paper).................................................................

Loans to farmers directly guaranteed by the Commodity Credit Corporation.........................................

Other loans to farmers (excluding loans on real

estate) ...............................................................................

Loans to brokers and dealers in securities..................

Other loans for the purpose of purchasing or carrying

securities...........................................................................

Real estate loans— total...................................................

Farm land........................................................................

Residential properties:

Insured by F H A .........................................................

Insured or guaranteed by V A ..................................

Not insured or guaranteed by FHA or V A ...........

Other properties...............................................................

Other loans to individuals...............................................

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

All other loans (including overdrafts)..........................

Total loans and securities.............................

Bank premises, furniture and fixtures, and other

real estate— tota l........................................................

Bank premises...............................................................

Furniture and fixtures..................................................

Real estate owned other than bank premises............

Investments and other assets indirectly representing

bank premises or other real estate..........................

Miscellaneous assets— tota l...........................................

Customers* liability on acceptances outstanding. . . .

Income accrued but not collected...............................

Prepaid expenses...........................................................

Other assets...................................................................

RATIOS

Percentages of total assets:

Cash and balances with other banks..........................

U. S. Government obligations, direct and guaranteed

Other securities.............................................................

Loans and discounts.....................................................

Other assets...................................................................

Total capital accounts..................................................

81,992,410

1,246,384

83,238,794

77,814,796

1,160,127

78,974,923

77,281,768

1,124,272

78,406,040

70,341,295

1,070,973

71,412,268

67,010,534

991,086

68,001,620

67,266,168

961,317

68,227,485

11,651,115

175,411

11,826,526

10,804,262

169,041

10,973,303

10,015,600

162,955

10,178,555

26,858,847 26,110,497 27,186,496 26,823,376 26,069,067 27,157,544 35,471 41,430 28,952

2,234,381

2,894,076

2,906,509

1,505,776

30,047,263

1,181,968

1,919,223

3,156,458

2,439,008

1,233,471

27,988,276

1,162,368

2,164,791

2,720,599

2,344,232

1,185,373

26,682,236

1,102,669

2,234,381

2,892,563

2,906,509

1,502,690

18,347,430

1,139,304

1,919,223

3,154,903

2,439,008

1,230,387

17,149,150

1,120,669

2,164,791

2,719,046

2,344,232

1,182,462

16,612,658

1,062,224

1,513 1,555 1,553

3,086

11,699,833

42,664

3,084

10,839,126

41,699

2,911

10,069,578

40,445

7,1>5S,776

6,558,085

10,211,454

4,641,980

14,789,580

239,932

1,762,430

7,196,892

5,756,989

9,562,594

4,309,433

14,482,850

175,953

1,469,187

7,003,693

5,234,356

9,269,723

4,071,895

14,479,089

161,925

1,481,299

4,052,582

3,311,930

6,614,370

3,229,244

14,720,160

239,932

3,904,594

3,080,723

6,070,652

2,972,512

14,411,508

175,953

1,452,421

3,853,009

3,024,889

5,866,475

2,806,061

14,411,636

161,925

1,473,191

3,401,194

3,246,155

3,597,084

1,412,736

69,420

3,292,298

2,676,266

3,491,942

1,336,921

71,342

3,150,584

2,209,467

3,403,248

1,265,834

67,453

1,745,227 17,203 16,766 8,108

175,313,216 164,921,058 163,369,432 154,483,066 144,799,692 144,117,630 20,830,150 20,121,366 19,251,802

1,776,857

1,328,833

322,326

27,393

1,695,186

1,256,617

314,389

30,610

1,636,034

1,208,834

298,031

39,642

1,646,516

1,205,790

316,830

25,591

1,571,136

1,140,503

309,302

27,761

1,520,448

1,098,761

293,635

38,525

130,341

123,043

5,496

1,802

124,050

116,114

5,087

2,849

115,586

110,073

4,396

1,117

98,305 93,570 89,527 98,305 93,570 89,527

1,411,998

583,099

456,970

55,526

316,403

1,216,100

361,801

489,166

70,569

294,564

1,113,580

377,536

427,610

50,270

258,164

1,223,640

583,099

374,497

50,644

215,400

1,030,903

361,801

407,449

64,781

196,872

946,243

377,536

352,212

46,590

169,905

188,358

........ 82,473

4,882

101,003

185,197

........ 81,717

5,788

97,692

167,337

........ 75,'398

3,680

88,259

19.8%

33.4

8.6

36.8

1.4

7.3

20.0%

32.8

8.7

37.1

1.4

7.4

21.4%

32.6

8.1

36.6

1.3

7.1

21.5%

34.0

8.0

35.1

1.4

7.1

21.8%

33.2

8.1

35.5

1.4

7.3

23.3%

32.7

7.5

35.2

1.3

6.9

3.8%

27.8

13.9

53.0

1.5

8.7

3.8%

29.7

14.2

50.9

1.4

8.8

3.9%

31.8

13.6

49.3

1.4

8.9

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 107. A s s e t s an d L ia b i lit i e s o f O p e r a tin g In su re d 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 ),

D e c e m b e r 31, 1954, Ju n e 30, 1954, an d D e c e m b e r 31, 1953— Continued

(Amounts in thousands of dollars)

Liabilities and capital

All insured banks

Dec. 31,

1954

June 30,

1954

Dec. 31,

1953

Insured commercial banks1

Dec. 31,

1954

June 30,

1954

Dec. 31,

1953

Insured mutual savings banks

Dec. 31,

1954

June 30,

1954

Dec. 31,

1953

Total liabilities and capital accounts.

Business and personal deposits— tota l.................

Deposits of individuals, partnerships, and corporations— demand........................................................

Deposits of individuals, partnerships, and corporations— time..............................................................

Certified and officers’ checks, cash letters of Credit

and travelers’ checks outstanding, and amounts

due to Federal Reserve banks..............................

Government deposits— total................

United States Government— demand.

United States Government— time___

States and subdivisions— demand........

States and subdivisions— time..............

Interbank and postal savings deposits— 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............................. ...............................

Total deposits.

Demand...........

Time................

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

Total liabilities (excluding capital accounts).

222,569,263 209,880,349 211,396,426 200,588,294 188,643,046 191,062,625 21,980,969 21,237,303 20,333,801

170,037,691

102,755,402

64,091,963

3,190,326

158,523,624

93,502,360

62,242,299

2,778,965

162,029,962

99,216,948

59,817,273

2,995,741

150,177,045

102,715,265

44,276,220

3,185,560

139,350,542

93,465,182

43,111,876

2,773,484

143,667,798

99,195,829

41,484,058

2,987,911

19,860,646

40,137

19,815,743

4,766

19,173,082

37,178

19,130,423

5,481

18,362,164

21,119

18,333,215

7,830

16,739,173

4,181,378

347,195

9,811,119

2,399,481

18,040,374

5,584,002

312,759

9,830,326

2,313,287

15,846,486

4,137,855

319,991

9,448,844

1,939,796

16,717,221

4,178,286

347,184

9,807,800

2,383,951

18,021,388

5,581,947

312,748

9,827,702

2,298,991

15,828,516

4,135,590

319,967

9,444,755

1,928,204

21,952

3,092

11

3,319

15,530

18,986

2,055

11

2,624

14,296

17,970

2,265

24

4,089

11,592

16,417,667

13,398,448

77,024

1,497,722

1,412,924

31,549

15,088,323

12,262,352

65,679

1,287,512

1,442,707

30,073

15,589,568

13,229,080

50,520

1,296,108

983,650

30,210

16,414,957

13,398,097

74,665

1,497,722

1,412,924

31,549

15,085,769

12,262,002

63,475

1,287,512

1,442,707

30,073

15,587,167

13,229,030

48,169

1,296,108

983,650

30,210

2,710

351

2,359

2,554

350

2,204

2,401

50

2,351

203,194,531

18 b,88 b,895

68,860,186

191,652,321

125,2b5,517

66,b06,80b

193,466,016

180,82b,576

63,lbl,bb0

183,309,223

18b,782,780

b8,526,b98

172,457,699

125,197,829

b7,259,870

175,083,481

180,289,228

bb, 79b, 258

19,885,308

51,665

19,888,6bS

19,194,622

b7,688

19,lb6,98b

18,382,535

85,858

18,8 b7,182

3,176,449

22,937

611,820

94,891

589,287

967,362

890,152

2,619,655

49,636

376,225

81,457

560,701

713,764

837,872

2,847,301

59,090

402,550

86,923

573,534

824,058

901,146

3,000,402

22,887

611,820

90,344

576,723

955,679

742,949

2,444,477

49,636

376,225

65,322

549,257

698,850

705,187

2,714,666

59,040

402,550

82,175

564,068

813,757

793,076

176,047

50

175,178 132,635

50

4,547

12,564

11,683

147,203

16,135

11,444

14,914

132,685

4,748

9,466

10,301

108,070

206,370,980 194,271,976 196,313,317 186,309,625 174,902,176 177,798,147 20,061,355 19,369,8 18,515,170

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

16,198,283

4,286,916

8,299,672

3,019,315

592,380

15,608,373

4,137,011

7,837,495

3,073,780

560,087

15,083,109

4,030,592

7,623,978

2,868,498

560,041

14,278,669

4,286,916

6,856,548

2,653,218

481,987

13,740,870

4,137,011

6,436,175

2,700,988

466,696

13,264,478

4,030,592

6,283,560

2,498,871

451,455

1,919,614

(2)

1,443,124

366,097

110,393

1,867,503

(2)

1,401,320

372,792

93,391

1,818,631

(2)

1,340,418

369,627

108,586

21,622,201 21,419,709 19,888,963 21,622,201 21,419,709 19,888,963

4,291,136

4,238,667

28,105

24,364

34,141,372

4,084,618

328,873

27,881

34,035,035

33,978,703

325,837

30,495

4,287,416

4,238,667

24,385

24,364

34,137,512

4,084,618

325,013

27,881

34,031,135

33,978,703

321,937

30,495

3,720 3,860 3,900

Capital notes and debentures.....................................

Preferred stock................................................................

3,720 3,860 3,900

Retirable value of preferred stock................................ 49,181 60,093 67,058 49,181 60,093 67,058

Number of banks........................................................................ 13,541 13,619 13,651 13,323 13,400 13,432 218 219 219

1 Includes stock savings banks.

2 Not reported separately. Included with “Reserves” .

3 Revised.

Back figures, 1934-1953: See the Annual Report for 1953, pp. 100-103, and earlier reports.

00ASSETS AND LIABILITIES OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 08. A s s e ts an d L ia b ilitie s o f O p e r a tin g 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 ), J u n e 30, 1954

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Asset item All

banks

Banks with deposits of-

$1,000,000 $1,000,000

to

$2 ,000,000

$2,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10,000,000

to

$25,000,000

CO

to

Total assets. 188,643,046 1,558,380

Cash, balances with other banks, and cash collection item sCurrency and coin................................................................

Reserve with F. R. banks (member banks)................................

Demand balances with banks in the United States...................

Other balances with banks in the United States.........................

Balances with banks in foreign countries.....................................

Cash items in process of collection................................................

-total.

Securities— total...............................................................

U. S. Gov’t, obligations (incl. guaranteed)— total.

Direct:

Treasury bills............................................................

Treasury certificates of indebtedness.....................

Treasury notes...........................................................

United States non-markeiable bonds.....................

Other bonds maturing in 5 years or less...............

Other bonds maturing in 5 to 10 years.................

Other bonds maturing in 10 to 20 years..............

Other bonds maturing after 20 years.....................

Guaranteed obligations {FHA debentures)..............

Obligations of States and subdivisions......................

Other bonds, notes, and debentures...........................

Corporate stocks..............................................................

Loans and discounts, net— total................................................................

Valuation reserves....................................................... .........................................

Loans and discounts, gross— total.......................................... ..................

Commercial and industrial loans..................................................................

Loans to farmers directly guaranteed by the Commodity Credit Corp.

Other loans to farmers (excl. real estate)...................................................

Loans to brokers and dealers in securities...................................................

Other loans for carrying securities...............................................................

Real estate loans— total..................................................................................

On farm land............................................................................................ .

On residential properties:

Insured by F H A ........................................................................................

Insured or guaranteed by V A .................................................................

Not insured or guaranteed by FHA or V A ..........................................

On other properties........................................................................................

Other loans to individuals— total...................................................................

Retail automobile instalment paper............................................................

Other retail instalment paper.......................................................................

Repair and modernization instalment loans.............................................

Instalment cash loans....................................................................................

Single-payment loans....................................................................................

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

All other loans (including overdrafts)..........................................................

Miscellaneous assets— to ta l............................................................................

41,241,315

2,651,962

18,924,021

10,683,419

40,930

62,246

8,878,737

77,789,158

62,561,094

4,581,958

5,508,527

12,242,466

2,582,284

13,488,861

19,168,807

4,918,861

91,908

87,972

11,715,908

3,133,702

378,454

67,010,534

991,086

68,001,620

26,069,067

1,919,223

3,154,903

2,439,008

1,230,387

17,149,150

1,120,669

8,904,594

8,080,723

6,070,652

2,972,512

14,411,508

4,362,015

1,954,919

1,669,884

2,054,026

4,870,664

175,953

1,452,421

2,602,039

341,791

43,715

32,743

260,733

830

6

3,764

603,545

527,579

41,270

69,155

95,427

71,789

136,443

77,049

35,176

1,277

43

52,730

21,595

1,641

601,623

3,054

604,677

46,192

65,911

210,125

100

1,457

151,751

59,787

9,768

8,286

57,620

16,840

120,470

40,968

11,970

1,857

17,497

48,678

97

8,574

11,421

(Amounts in thousands of dollars)

4,988,726 15,158,263 15,338,561

1,030,690

123,256

188,566

699,336

2,417

14

17,101

2,059,524

1,756,489

132,451

208.270

338,128

258,652

423,131

287,995

109,204

3,496

167

224,358

74,323

4,354

1,860,100

12,062

1,872,162

201.270

184,793

519,253

825

5,984

562,493

170.482

86,896

48,800

239,679

66,636

376,968

128,780

42,277

9,101

55,878

141.482

65

20,511

38,412

3,061,837

353,532

846,156

1,773,421

5,070

104

83,554

6,697,257

5,430,666

483,534

613,971

1,008,950

671,263

1,257,294

1,085,100

350,599

8,925

1,030

996,731

251.990

17,870

5.261.297

46,996

5,308,293

761.990

354,708

1.004.297

1,697

28,589

1,912,880

376,474

148,895

247,536

863,712

276,268

1,186,700

401,974

151,206

49,829

177,297

406,394

1,263

56,169

137,872

3,041,810

347,266

969,085

1,571,667

4,511

266

149,015

6,967,354

5,525,437

403,591

584,028

1,045,948

480,330

1,255,430

1,348,675

399,276

7,024

1,185

1,153,363

264,951

23,603

5,167,809

60,804

5,228,613

983,629

192,201

515,768

1,699

46,190

2,029,975

206,547

199,848

888,483

942,003

348,149

1,398,343

475,148

184,765

99,784

223,880

414,771

320

60,488

161,588

19,609,272

3,828,524

421,346

1,329,616

1,772,036

3,033

689

301,804

8,935,376

7,161,697

450,815

665,082

1,868,256

420,080

1,658,738

1,995,867

597,586

9,465

1,363

1.394,822

'344,203

34,654

6,594,751

85,709

6,680,460

1,550,141

133,010

265,754

8,376

87,579

2,559,545

121,929

332,653

462,740

1,138,741

503,482

1,988,513

671,918

289,079

231,075

809,736

536,710

1,023

86,519

250,621

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 10 8 . A sse ts a n d L ia b il it ie s o f O p e r a t in g I n s u r e d C o m m e r c ia l B a n k s 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 Ot h e r A r e a s ), J u n e 30, 1954— Continued

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Banks with deposits of—

Asset item $25,000,000

to

$50,000,000

$50,000,000

to

$1 0 0 ,0 0 0 ,0 0 0

$1 0 0 ,0 0 0 ,0 0 0

to

$250,000,000

$250,000,000

to

$500,000,000

$500,000,000

to

$1 ,0 0 0 ,0 0 0 ,0 0 0

More

than

$1 ,0 0 0 ,0 0 0 ,0 0 0

Total assets................. ................................................................................................. 13,686,434 14,208,861

Amounts in thoi

19,982,772

isands of dollars)

18,317,452 16,984,768 48,809,557

Cash, balances with other banks, and cash collection items— tota l.. 2,825,690 3,104,151 4,693,735 4,418,697 4,093,856 10,800,534

Currency and coin................................................................................................. 258,098 239,832 280,190 184,547 127,311 272,869

Reserve with F. R. banks (member banks).................................................. 1,141,807 1,227,715 2,080,565 2,158,336 2,328,218 6,621,214

Demand balances with banks in the United States..................................... 1,039,098 1,018,253 1,130,277 742,873 391,754 283,971

Other balances with banks in the United States.......................................... 1,689 3,419 4,342 7,490 2,483 5,646

Balances with banks in foreign countries....................................................... 285 1,194 2,826 7,301 14,196 35,365

Cash items in process of collection................................................................... 384,713 613,738 1,195,535 1,318,150 1,229,894 3,581,469

Securities— total..................................................................................................... 6,044,912 5,949,003 8,320,568 7,069,712 6,645,420 18,496,487

U. S. Gov't, obligations (incl. guaranteed)— total............... ....................... 4,852,977 4,759,751 6,903,379 5,989,763 5,095,600 14,557,756

Direct:

Treasury bills................................................................................................. 822,606 309,641 502,221 404,526 385,792 1,196,011

Treasury certificates of indebtedness................................. ........................ 480,449 385,904 548,625 509,126 294,504 1,199,413

Treasury notes................................................................................................ 988,125 1,022,831 1,439,102 1,179,087 1,101,703 2,709,966

United States non-marketable bonds.......................................................... 170,677 96,385 131,014 58,188 30,175 143,781

Other bonds maturing in 5 years or less.................................................... 1,1 US,507 1,005,621 1,499,961 1,298,689 1,031,532

1,791,413

2,778,020

Other bonds maturing in 5 to 10 years...................................................... 1,494,870 1,594,186 2,166,570 1,979,532 5,343,050

Other bonds maturing in 10 to 20 years.................................................... 849,661 340,905 601,698 552,911 449,225 1,132,620

Other bonds maturing after 20 years........ ................................................. 8,228 3,057 13,338 5,606 2,486 34,011

Guaranteed obligations (FHA debentures) .................................................... 861 1,221 850 2,148 8,770 20,884

Obligations of States and subdivisions............................................................ 943,455 885,589 1,051,247 857,291 1,167,865 2,988,457

Other bonds, notes, and debentures................................................................ 224,711 278,024 326,499 190,787 342,723 813,896

Corporate stocks................................................................................................... 23,769 25,639 39,443 31,871 39,232 136,378

Loans and discounts, net— total..................................................................... 4,631,304 4,948,529 6,682,287 6,575,445 6,015,980 18,671,409

Valuation reserves..................................................................................................... 68,972 74,608 99,513 94,733 92,906 351,729

Loans and discounts, gross— total................................................................. 4,700,276 5,023,137 6,781,800 6,670,178 6,108,886 19,023,138

Commercial and industrial loans...................................................................... 1,390,904 1,836,187 2,659,156 3,105,473 3,192,597 10,341,528

Loans to farmers directly guaranteed by the Commodity Credit Corp... 106,580 119,201 163,147 201,463 153,509 244,700

Other loans to farmers (excl. real estate)....................................................... 100,235 111,260 107,734 58,758 65,629 196,090

Loans to brokers and dealers in securities...................................................... 32,382 27,634 140,956 156,385 345,281 1,723,673

Other loans for carrying securities................................................................... 71,756 8 6 ,8 8 6 158,513 238,602 119,839 384,992

Real estate loans— total...................................................................................... 1,557,964 1,274,805 1,498,577 1,371,569 972,100 3,257,491

On farm land...................................................................................................... 42,747 27,303 27,211 17,395 19,106 51,738

On residential properties:

Insured by F H A ............................................................................................ 278,872 805,224 469,114 394,345 804,460 1,430,024

Insured or guaranteed by V A ..................................................................... 287,887 211,726

407,157

270,926 276,019 232,081 701,289

Not insured or guaranteed by FHA or V A .............................................. 600,701 453,585 408,172 233,268 726,014

On other properties............................................................................................. 858,257 823,895

1,455,736

277,741 275,638 183,185 348,426

Other loans to individuals— total..................................................................... 1,357,213 1,799,973 1,353,934 1,111,727 2,261,931

Retail automobile instalment paper................................................................ 451,225 413,219 468,458 837,808 389,755 582,822

Other retail instalment paper........................................................................... 168,595 168,409 261,381 202,295 160,614 369,328

Repair and modernization instalment loans.................................................. 142,565 204,469 225,147 208,382 146,904 351,271

Instalment cash loans........................................................................................ 202,462 248,355 216,705 127,377 91,427 383,912

Single-payment loans........................................................................................ 397,866 421,284 628,282 478,072 323,027 574,598

Loans to banks....................................................................................................... 1,253 5,074 12,267 9,164 8,505 136,922

All other loans (including overdrafts)............................................................. 81,989 106,354 241,477 174,830 139,699 475,811

Miscellaneous assets— tota l.............................................................................. 184,528 207,178 286,182 253,598 229,512 841,127

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. A s s e t s an d L ia b ilitie s o f O p e ra tin g In su 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. and O t h e r A r e a s ), J u n e 30, 1954— Continued

b a n k s grou p ed a c c o rd in g t o am o u n t o f d e p o sits

CO

Liability, or capital account item All

banks

Banks with deposits of—

$1 ,0 0 0 ,0 0 0

or

less

$1 ,0 0 0 ,0 0 0

to

$2 ,0 0 0 ,0 0 0

$2 ,0 0 0 ,0 0 0

to

$5,000,000

$5,000,000

to

$1 0 ,0 0 0 ,0 0 0

$1 0 ,0 0 0 ,0 0 0

to

$25,000,000

Total liabilities and capital ar*r m ints, , ................................................ 188,643,046 1,558,380

(Amount

4,988,726

a in thousands o:

15,158,263

f dollars)

15,338,561 19,609,272

Business and personal deposits— to ta l......................................................... 139,350,542

93,465,182

43,111,876

2,773,484

1,209,449

876,614

326,887

5,948

3,981,227

2,655,608

1,302,532

23,087

12,221,728

7,639,884

4,490,397

91,447

12,395,056

7,347,504

4,916,546

131,006

15,878,208

9,323,447

6,350,721

204,040

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 and postal savings deposits— total..................................... 18,051,461

5,581,947

342,821

9,827,702

2,298,991

161,416

10,689

376

138,008

12,343

516,263

49,888

890

422,694

42,791

1,582,880

219,649

9,950

1,205,663

147,618

1,602,349

300,116

30,091

1,088,033

184,109

1,888,339

395,603

55,392

1,171,663

265,681

United States Government— demand...............................................................

United States Government— time (including postal savings)...................

States and subdivisions— demand.....................................................................

States and subdivisions— time............................................................................

Interbank deposits— total................................................................................... 15,055,696

12,262,002

63,475

1,287,512

1,442,707

3,580

3,335

245

12,206

11,603

597

6

68,231

65,657

2,519

55

122,450

119,653

1,653

1,118

26

337,819

323,264

8,719

5,836

Banks in the United States— demand..............................................................

Banks in the United States— time....................................................................

Banks in foreign countries— demand...............................................................

Banks in foreign countries— time ....................................................................

Total deposits.................................................................................................. 172,457,699

125,197,829

47,259,870

1,374,445

1,034,594

339,851

4,509,696

3,162,886

1,346,810

13,872,839

9,222,355

4,650,484

14,119,855

8,987,430

5,132,425

18,104,366

11,423,853

6,680,513

Demand............................................................................................................

Time..................................................................................................................

Miscellaneous liabilities— total........................................................................ 2,444,477 4,430 13,853 51,649 81,300 148,440

Total liabilities (excluding capital accounts)...................................

Capital accounts— total.......................................................................................

174,902,176 1,378,875 4,523,549 13,924,488 14,201,155 18,252,806

13,740,870

4,137,011

6,436,175

3,167,684

179,505

65,863

64,044

49,598

465,177

138,022

178,146

149,009

1,233,775

361,068

498,866

373,841

1,137,406

337,884

483,531

315,991

1,356,466

423,957

591,461

341,048

Capital stock, notes, and debentures...............................................................

Surplus.................................................................................... .............................

Undivided profits and reserves..........................................................................

Number of banks............................................................................................................ 13,400 2 ,0 0 2 3,084 4,340 2 ,0 1 2 1,189

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. A s s e ts an d L ia b ilitie s o f O p e r a tin g 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 ), J u n e 30, 1954— Continued

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Liability, or capital account item

Banks with deposits of—

$25,000,000

to

$50,000,000

$50,000,000

to

$1 0 0 ,0 0 0 ,0 0 0

$1 0 0 ,0 0 0 ,0 0 0

to

$250,000,000

$250,000,000

to

$500,000,000

$500,000,000

to

$1 ,0 0 0 ,0 0 0 ,0 0 0

More

than

$1 ,0 0 0 ,0 0 0 ,0 0 0

Total liabilities and capital accounts...............................................................

Business and personal deposits— tota l........................................................

Deposits of individuals, partnerships, and corporations— demand..........

Deposits of individuals, partnerships, and corporations— time................

Certified and officers’ checks, cash letters of credit and travelers’ checks

outstanding, and amounts due to Federal Reserve banks.....................

Government and postal savings deposits— total.....................................

United States Government— demand..............................................................

United States Government— time (including postal savings)....................

States and subdivisions— demand.....................................................................

States and subdivisions— time...........................................................................

Interbank deposits— total..................................................................................

Banks in the United States— demand.............................................................

Banks in the United States— time...................................................................

Banks in foreign countries— demand...............................................................

Banks in foreign countries— time.....................................................................

Total deposits.................................................................................................

Demand............................................................................................................

Time.................................................................................................................

13,686,434

(

14,208,861

^Amounts in thoi

19,982,772

isands of dollars)

18,317,452 16,984,768 48,809,557

10,776,629

6,768,516

3,836,615

171,498

10,545,040

7,048,806

3,304,820

191,414

14,268,890

9,956,338

4,068,804

243,748

12,787,740

9,252,992

3,299,628

235,120

12,130,865

8,859,177

3,006,199

265,489

33,155,710

23,736,296

8,208,727

1,210,687

1,397,694

287,789

38,978

876,688

194,239

1,520,888

381,415

21,874

885,906

231,693

2.134.637

611,492

66,989

1.245.638

210,518

2,032,092

624,464

15,073

1,088,725

303,830

1,360,672

743,289

7,492

464,834

145,057

3,854,231

1,957,553

95,716

1,239,850

561,112

477,708

469,172

4,995

3,541

1,054,295

1,003,729

3,867

17,654

29,045

2,031,840

1,963,369

4,040

38,756

25,675

2,083,415

1,997,781

6,625

64,659

14,350

2,063,715

1,903,204

4,456

82,225

73,830

6,800,437

4,401,235

25,759

1,073,662

1,299,781

12,652,031

8,577,204.

k,07k,827

13,120,223

9,528,92k

3,591,299

18,435,367

Ik,059,Ski

k,376,026

16,903,247

13,263,7kl

3,639,506

15,555,252

12,318,218

3,237,03k

43,810,378

33,619,283

10,191,095

Miscellaneous liabilities— total.......................................................................

Total liabilities (excluding capital accounts)...................................

Capital accounts— total......................................................................................

Capital stock, notes, and debentures..............................................................

Surplus....................................................................................................................

114,501 150,569 210,028 209,702 183,757 1,276,248

12,766,532 13,270,792 18,645,395 17,112,949 15,739,009 45,086,626

919,902

291,840

405,294

222,768

938,069

297,618

426,720

213,731

1,337,377

412,371

625,835

299,171

1,204,503

354,458

601,119

248,926

1,245,759

371,986

617,163

256,610

3,722,931

1,081,944

1,943,996

Undivided profits and reserves.......................................................................... 696,991

Number of banks........................................................................................................... 369 189 123 50 24 18

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 109. 

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), 1946-1954

Ratios of earnings, expenses, and dividends of insured commercial banks in the 

United States (continental U. S. and other areas), 1946-1954

Earnings, expenses, and dividends of insured commercial banks in the United States 

(continental U. S. and other areas), 1954 

By class of bank

Ratios of earnings, expenses, and dividends of insured commercial banks in the 

United States (continental U. S. and other areas), 1954 

By class of bank

Earnings, expenses, and dividends of insured commercial banks operating throughout 

1954 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 1954 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, 1954

Income, expenses, and dividends of insured mutual savings banks, 1951-1954 

Ratios of income, expenses, and dividends of insured mutual savings banks, 1951-1954

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 B a n k s

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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.

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 109-112 and 115 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 liability

averages are not strictly comparable with the earnings data, but the

differences are not large enough to affect the totals significantly. Some

further incomparability is also introduced into the data by class of bank

by shifts between those classes during the year.

Assets and liabilities shown in Table 113, and utilized for computation

of ratios shown in Table 114, are for the identical banks to which the

Commercial banks earnings data pertain. For national banks and State banks members of

the Federal Reserve System, assets and liabilities are as of December 31,

1954, and for other banks, are averages of beginning, middle, and end

of the year.

Mutual savings banks

A uniform report of income, expenses, and dividends for mutual savings banks was adopted by the Corporation for the calendar year 1951.

Summaries of these reports for 1951-1954 are given in Tables 116 and

117. Data prior to 1951 are omitted because of lack of comparability.

The new form attempts to present operations on a basis accurately

reflecting actual income and profit and loss, and provides more detailed

information regarding losses and valuation adjustments. For a discussion

of the history and principles of this uniform report see pp. 50-52 in

Part Two of the 1951 Annual Report.

Sources of data

National banks, and State banks not members of the Federal Reserve

System in the District of Columbia: Office of the Comptroller of the

Currency.

State banks members of the Federal Reserve System: Board of Governors of the Federal Reserve System.

Other insured banks: Federal Deposit Insurance Corporation.

coEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
United States (Continental U. S. and Other Areas), 1946-1954 g-

(Amounts in thousands of dollars) 00

T a b le 109. 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

Earnings or expense item 1946 1947 1948 1949 1950 1951 1952 1953 1954

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

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

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

5,483,954

1,206,965

297,739

3,107,885

47,850

271,444

132,978

217,996

201,101

5,773,787

1,272,731

324,823

3,205,894

57,550

311,806

144,140

246,223

210,621

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

3,375,552

582,405

1,069,890

34,591

534,493

24,171

148,783

84,085

897,137

3,638,087

622,862

1,139,013

37,197

618,341

8,556

166,452

94,720

950,945

Net current operating earnings................................. 1,100,241 1,115,883 1,240,072 1,323,153 1,486,164 1,694,100 1,903,112 2,108,398 2,135,700

Recoveries, transfers from reserve accounts,

and profits— total.....................................................

On securities:

Transfers from reserve accounts..............................

Profits on securities sold or redeemed....................

On loans:

Recoveries......................................................................

Transfers from reserve accounts..............................

All other.............................................................................

408,608

J 59,515

208,700

| 74,499

65,894

262,042

45,360

100,189

67,687

48,806

266,439

( 29,221

( 24,161

60,025

i 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

152,373

11,454

27,545

38,865

28,423

18,292

27,794

631,496

14,912

60,555

416,520

34,014

57,965

47,530

Losses, charge-offs, and transfers to reserve

On securities:

Losses and charge-offs................................................

Transfers to reserve accounts...................................

On loans:

Losses and charge-offs................................................

Transfers to reserve accounts...................................

283,175

| 132,254

J 71,253

79,668

294,286

118,498

120,370

55,418

485,753

f 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

448,323

155,969

54,160

31,774

132,127

74,291

552,606

66,670

126,173

29,269

222,998

107,497

1

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— tota l.........................................

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

1,225,674 1,083,639 1,020,758 1,156,514 1,364,690 1,467,645 1,684,813 1,812,451 2,214,591

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

786,490

750,796

35,693

907,560

862,065

45,495

902,346 781,397 745,336 831,364 936,915 908,175 989,931 1,025,963 1,307,032

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

473,866

2,979

470,888

516,977

2,912

514,066

603,363 466,182 413,503 477,220 545,666 489,315 547,961 552,097 790,055

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 )

0 )

0 )

0 )

0 )

0 )

0 )

0 )

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

2,232

33,612

38,480

89,186

3,154

40,384

15,841

89,495

Average assets and liabilities3

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

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

185,685,283

43,192,523

60,868,295

14,082,070

65,213,144

2,329,251

193,339,614

42,976,798

64,372,065

15,209,165

68,148,039

2,633,547

151,896,770

141,829,678

109,890,600

81,939,078

1,057,079

9,010,013

148,170,261

137,537,907

103,159,254.

34,378,658

1,104,386

9,527,968

150,726,513

139,517,461

104,195,063

85,322,398

1,257,852

9,951,200

151,566,078

139,764,394

103,862,159

85,902,235

1,380,578

10,421,106

158,986,894

146,269,294

109,822,638

36,446,656

1,710,204

11,007,396

169,207,394

155,460,465

118,189,171

37,271,294

2,131,162

11,615,767

179,803,463

165,031,495

125,213,842

39,817,653

2,501,055

12,270,913

185,685,283

170,075,888

127,028,382

43,047,556

2,667,917

12,941,478

193,339,614

176,865,497

130,023,191

46,842,306

2,712,778

13,761,339

Number of active officers, December 31 .......................

Number of other employees, December 31...................

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

79,574

376,750

82,167

386,625

Number of banks, December 31...................................... 13,359 13,403 13,419 13,436 13,446 13,455 13,439 13,432 13,323

Note: Due to rounding differences, data for 1949 through 1954 may not add precisely to the indicated totals.

1 Not available.

2 Revised.

8 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1984-1945: See the following Annual Reports: 1950, pp. 250-251, and 1941, pp. 158-159. O

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 110. 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 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 ), 1946-1954

Earnings or expense item 1946 1947 1948 1949 1950 1951 1952 1953 1954

Am ounts per $100 of current operating

earnings

$100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

42.56 34.85 29.62 28.10 25.83 22.38 22.29 2 2 .0 1 22.04

Interest and dividends on other securities................ 6.17

33.22

5.79

41.39

5.57

47.01

5.59

48.79

5.74

51.08

5.68

55.17

5.62

56.46

5.43

57.55

5.63

56.52

4.36 4.77 5.11 5.38 5.40 5.24 4.96 4.95 5.40

Other service charges, commissions, fees, and

3.42 3.14 2 .8 6 2.65 2 .6 6 2.64 2.47 2.42 2.50

Other current operating earnings................................ 10.27 10.06 9.83 9.49 9.29 8.89 8 .2 0 7.64 7.91

Current operating expenses— total........................... 61.57 63.98 63.57 63.32 62.19 61.46 61.41 61.55 63.01

29.62 31.19 31.30 31.42 31.20 31.35 30.95 30.76 31.16

Interest on time and savings deposits........................ 9.38 9.63 9.30 9.10 8.73 8.77 9.29 9.75 10.71

Taxes other than on net income.................................. 3.36 3.34 3.12 3.15 3.26 3.09 2.82 2.71 2 .8 8

Recurring depreciation on banking house, furniture

and fixtures.................................................................. 1.43 1.36 1.42 1.50 1.51 1.50 1.52 1.53 1.64

Other current operating expenses................................ 17.78 18.46 18.43 18.15 17.49 16.75 16.83 16.80 16.62

Net current operating earnings................................. 38.43 36.02 36.43 36.68 37.81 38.54 38.59 38.45 36.99

Am ounts per $100 of total assets1

1 .8 8 2.09 2.26 2.38 2.47 2.60 2.74 2.96 2.98

Current operating expenses— total.................................. 1.16 1.34 1.44 1.51 1.54 1.60 1 .6 8 1.82 1 .8 8

Net current operating earnings......................................... .72 .75 .82 .87 .93 1 .0 0 1.06 1.14 1 .1 0

Recoveries, transfers from reserve accounts, and

.27 .18 .18 .14 .16 .1 0 .08 .08 .33

Losses, charge-offs, and transfers to reserve ac-

.18 .2 0 .32 .25 .23 .23 .2 0 .24 .28

^ 0^ profits before incoine t&xcs ..............................

.81 .73 .6 8 .76 .8 6 .87 .94 .98 1.15

Net profits after income taxes........................................... .59 .53 .49 .55 .59 .54 .55 .55 .6 8

Am ounts per $100 of total capital accounts1

piirrAnt nnpraHnp parninirs....................................... 1 2 .2 1 11.71 12.46 12.70 13.50 14.58 15.51 16.29 15.52

Recoveries, transfers from reserve accounts, and

profits— total..................................................................... 4.53 2.75 2 .6 8 2.04 2.23 1.46 1.17 1.18 4.59

Losses, charge-offs, and transfers to reserve ac3.14 3.09 4.88 3.64 3.33 3.41 2.95 3.46 4.02

16.09 Net profits before income taxes........................................ 13.60 11.37 10.26 1 1 .1 0 12.40 12.63 13.73 14.01

3.59 3.17 2.77 3.12 3.89 4.81 5.66 6.08 6.59

9.50 NTet profits after income taxes......................................... 1 0 .0 1 8 .2 0 7.49 7.98 8.51 7.82 8.07 7.93

3.32 3.31 3.33 3.40 3.55 3.61 3.60 3.66 3.76

5.74 Net additions to capital from profits.............................. 6.69 4.89 4.16 4.58 4.96 4.21 4.47 4.27

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Special ratios1

Income on loans per $100 of loans..................................

Income on U. S. Government obligations per $100

of U. S. Government obligations.................................

Income on other securities per $100 of other securities.

Service charges p«r $100 of demand deposits...............

Interest paid per $100 of time and savings deposits. .

3.43

1.49

2.34

.1 1

.84

3.79

1.54

2.16

.14

.87

4.04

1.57

2.14

.17

.90

4.22

1.61

2.15

.19

.91

4.34

1.59

2.04

.19

.94

4.45

1.65

1.99

.2 0

1.03

4.64

1.80

2.04

.2 0

1.15

4.84

1.98

2 .1 1

.21

1.24

4.79

1.98

2.14

.24

1.32

Assets and liabilities per $100 of total

assets1

Assets— to ta l....................................................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Cash and due from banks.............................................. 21.91 23.14 24.05 23.55 22.65 23.86 23.89 23.26 22.23 United States Government obligations...................... 53.88 47.40 42.65 41.62 40.16 35.29 33.96 32.78 33.29 Other securities................................................................. 4.98 5.61 5.89 6.19 6.94 7.42 7.54 7.58 7.87 Loans and discounts........................................................ 18.28 22.85 26.31 27.49 29.09 32.23 33.37 35.12 35.25 All other assets.................................................................. .95 1 .0 0 1 .1 0 1.15 1.16 1 .2 0 1.24 1.26 1.36

Liabilities and capital— total....................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits.................................................................... 93.37 92.82 92.56 92.21 92.00 91.88 91.78 91.59 91.48 Demand deposits............................................................ 72.34 69.62 69.13 68.52 69.08 69.85 69.64 68.41 67.25 Time and savings deposits........................................... 21.03 23.20 23.43 23.69 22.92 22.03 22.14 23.18 24.23

Borrowings and other liabilities................................... .70 .75 .84 .91 1.08 1.26 1.39 1.44 1.40 Total capital accounts.................................................... 5.93 6.43 6.60 6 .8 8 6.92 6 .8 6 6.83 6.97 7.12

Number of banks, December 31....................................... 13,359 13,403 13,419 13,436 13,446 13,455 13,439 13,432 13,323

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1934-1945: See the following Annual Reports: 1950, pp. 252-253, and 1941, pp. 160-161.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 11. E a r n in g s , E x p e n ses, and D iv id e n d s o f In su 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 ), 1954 »-*

BY CLASS OF BANK fcO

(Amounts in thousands of dollars)

Earnings or expense item Total

Members F. R. System Not

members

F. R.

System

Operating

throughout

the year

Operating

less than

full year1 National State

Interest and discount on loans..........................................................................................

Other service charges, commissions, fees, and collection and exchange charges. .

Other current operating earnings.....................................................................................

Current operating expenses— tota l................................................................................

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

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

Recoveries, transfers from reserve accounts, and profits— total.....................

On securities:

Transfers from reserve accounts...................................................................................

On loans:

5,773,787

1,272,731

324,823

3,205,894

57,550

311,806

144,140

246,223

210,621

3,215,980

731,641

189,044

1,796,021

33,627

174,191

64,571

100,728

126,157

1,609,349

334,432

83,696

865,791

15,449

78,075

37,905

134,892

59,109

948,458

206,658

52,083

544,082

8,474

59,540

41,664

10,603

25,355

5,724,412

1,263,473

322,124

3,181,335

57,200

308,496

143,233

240,737

207,815

49,374

9,259

2,699

24,559

349

3,311

907

5,486

2,806

3,638,087

622,862

1,139,013

37,197

618,341

8,556

166,452

94,720

950,945

1,988,742

318,995

632,316

17,313

342,036

4,288

96,583

53,348

523,863

1,009,168

159,790

351,437

8 ,2 2 2

151,249

3,697

43,563

22,273

268,936

640,177

144,077

155,260

11,662

125,056

571

26,306

19,099

158,146

3,602,487

616,952

1,128,792

36,880

612,152

8,496

165,109

93,603

940,503

35,600

5,910

1 0 ,2 2 2

317

6,189

61

1,343

1,117

10,441

2,135,700 1,227,238 600,181 308,281 2,121,926 13,774

631,496

14,912

60,555

416,520

34,014

57,965

47,530

363,530

8,367

25,013

244,797

14,160

40,223

30,970

188,433

3,342

18,129

129,808

13,190

14,335

9,629

79,533

3,203

17,413

41,915

6,664

3,407

6,931

621,161

14,879

59,344

413,753

33,386

52,882

46,917

10,335

33

1 ,2 1 1

2,767

629

5,083

613

Losses, charge-offs, and transfers to reserve accounts— tota l.......................... 552,606 320,811 158,449 73,346 550,130 2,476

On securities:

66,670 41,379 17,169 8 ,1 2 2 66,321 351

126,173 71,460 47,397 7,316 125,806 366

On loans:

29,269 13,274 4,497 11,498 29,011 259

222,998 133,673 62,467 26,858 222,066 931

107,497 61,025 26,919 19,553 106,928 569

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Net profits before income taxes............................................................... 2,214,591 1,269,957 630,165 314,469 2,192,957 | 21,634

Taxes on net income— to ta l............................................................................ 907,560

862,065

45,495

530,314

507,302

23,012

273,868

255,378

18,490

103,378

99,385

Q QOQ

900,878

855,746

K 1QO

6,682

6,319

363

Federal.....................................................................

State.............................................................................................................

Net profits after income taxes....................................................................................

' ’

1,307,032 739,643 356,298 211,091 1,292,078 14,953

Dividends and interest on capital— total................................................................. 516,977

2,912

514,066

299,510

264

299,246

156,605

1,766

154,840

60,862

882

59,980

513,710

2 ,8 6 6

510,844

3,267

46

3,221

Dividends declared on preferred stock and interest on capital notes and

debentures..................................................................................

Cash dividends declared on common stock...................................................................

Net additions to capital from profits............................................................ 790,055 440,133 199,692 | 150,230 778,369 11,686

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities......................................................... 3,154

40,384

15,841

89,495

919

27,089

8,080

53,597

2,017

7,593

7,167

21,149

218

5,702

594

14,749

3,154

40,247

15,841

89,105

On loans............................................................... 137 Losses charged to reserve accounts (not included in losses above):

On securities...................................................

On loans............................................................................................ 389

Average assets and liabilities2 

Assets— to ta l................................................................................................ 193,339,614

42,976,798

64,372,065

15,209,165

68,148,039

2,633,547

111,416,418

25,592,251

36,877,476

9,018,439

38,405,228

1,523,024

54,701,339

12,465,010

17,617,941

3,804,913

19,989,993

823,482

27,221,857

4,919,537

9,876,648

2,385,813

9,752,818

287,041

Cash and due from banks.......................................................................................

United States Government obligations................................................................

Other securities....................................................................................

Loans and discounts.............................................................................................

All other assets................................................................................................... ..... , .............

Liabilities and capital— total.................................................................. 193,339,614

176,865,497

130,023,191

1*6,81*2,306

2,712,778

13,781,339

111,416,418

101,955,597

76,002,851

25,952,746

1,740,255

7,720,566

54,701,339

49,911,154

37,867,619

12,043,535

768,134

4,022,051

27,221,857

24,998,746

16,152,721

8,846,025

204,389

2,018,722

Total deposits.............................................................................................

Demand deposits.....................................................................................

Time and savings deposits.........................................................

Borrowings and other liabilities.............................................................................

Total capital accounts................................................................. ................. I..................

Number of active officers, December 3 1 ............................................ 82,167

386,625

39,287

213,073

17,238

110,850

25,642

62,702

81,649 518 Number of other employees, December 31............................................................. 334,462 2,163

i

Number of banks, December 31....................................................... 13,323 4,789 1,867 6,667 13,243 80

Note: Due to rounding differences, earnings data of State banks may not add precisely to the indicated totals.

1 Includes banks operating less than full year and a few banks which engage primarily in fiduciary business.

2 Asset and liability items are average of figures reported at beginning, middle, and end of year.

Back figures, 1931*-1953: See Table 109, pp. 138-39. See also the Annual Report for 1953, pp. 110-111, and earlier reports. ^EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 2 . R a t io s o f E a r n in g s , E x p e n ses, 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 ta t e s (C o n t in e n t a l U . S. an d O t h e r A r e a s ), 1954

BY CLASS OF BANK

Earnings or expense item Total

Members F. R. System Not

members

F. R.

National State System

Am ounts per $100 of current operating earnings

Current operating earnings— total............................................................................................................................ $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0

Interest on United States Government obligations................................................................................................. 22.04 22.75 20.78 21.79

Interest and dividends on other securities................................................................................................................. 5.63 5.88 5.20 5.49

Income on loans................................................................................................................................................................ 56.52 56.89 54.76 58.26

Service charges on deposit accounts............................................................................................................................. 5.40 5.42 4.85 6.28

Other service charges, commissions, fees, and collection and exchange charges............................................. 2.50 2 .0 1 2.36 4.39

Other current operating earnings.................................................................................................................................. 7.91 7.05 12.05 3.79

Current operating expenses— total.................................................. ......................................................................... 63.01 61.84 62.71 67.50

Salaries, wages, and fees................................................................................................................................................. 31.16 30.12 32.28 32.79

Interest on time and savings deposits......................................................................................................................... 10.71 10.64 9.40 13.19

Taxes other than on net income.................................................................................................................................... 2 .8 8 3.00 2.71 2.77

Recurring depreciation on banking house, furniture and fixtures....................................................................... 1.64 1 .6 6 1.38 2 .0 1

Other current operating expenses................................................................................................................................. 16.62 16.42 16.94 16.74

Net current operating earnings................................................................................................................................... 36.99 38.16 37.29 32.50

Amounts per $100 of total assets1

Current operating earnings— total................................................................................................................................... 2.98 2 .8 8 2.94 3.48

Current operating expenses—total.................................................................................................................................... 1 .8 8 1.78 1.84 2.35

Net current operating earnings.......................................................................................................................................... 1 .1 0 1 .1 0 1 .1 0 1.13

Recoveries, transfers from reserve accounts, and profits— total.............................................................................. .33 .33 .34 .29

Losses, charge-offs, and transfers to reserve accounts— total.................................................................................. .28 .29 .29 .27

Net profits before income taxes......................................................................................................................................... 1.15 1.14 1.15 1.15

Net profits after income taxes............................................................................................................................................ .6 8 ,6 6 .65 .78

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities....................................................................................................................................................................... (2) (2) (2) (2)

On loans............................................................................................................................................................................... .0 2 .0 2 .0 1 .0 2

Losses charged to reserve accounts (not included in losses above):

On securities....................................................................................................................................................................... .0 1 .0 1 .0 1 (2)

On loans............................................................................................................................................................................... .05 .05 .04 .05

144 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Am ounts per $ 1 0 0 of total capital accounts

1

Net current operating earnings......................................................... 15.52

4.59

15.90

4.71

14 92 1 ^ 9 7

Recoveries, transfers from reserve accounts, and profits— total.......................................... 4^69

3.94

15.67

6.81

J. O .Cl4

3.94 Losses, charge-offs, and transfers to reserve accounts— total............................................... 4.02 4.16 3.63 Net profits before income taxes...................................... 16.09

6.59

9.50

3.76

5.74

16.45

6.87

9.58

3.88

5.70

Taxes on net income...................................................... lU tU O

^19

Net profits after income taxes............................................... 8^86 10.46 Cash dividends declared............................................... 3^90 3.02 Net additions to capital from profits............................................. 4.96 7 AA

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities................................................................ .0 2

.29

.1 2

.65

.0 1

.35

.1 0

.69

.05 A1

On loans................................................................... !l9

• U1

28 Losses charged to reserve accounts (not included in losses above):

On securities............................................................ .18 03 On loans............................................................... ’ 53 7 0

• 10

Special ratios1 

Income on loans per $100 of loans........................................ 4.79 4.76

1.98

2 .1 0

.23

4.41

1.90

2 .2 0

.2 1

1.26

5.67

2.09

2.18

.37

1.41

Income on U. S. Government obligations per $100 of U. S. Government obligations.......................................

Income on other securities per $100 of other securities.................................

1.98

2.14

Service charges per $100 of demand deposits.............................................. .24

Interest paid per $100 of time and savings deposits................................................................................ 1.32 1.32

Assets and liabilities per $100 of total assets1 

Assets— total........................................................ 1 0 0 .0 0

22.23

33.29

1 0 0 .0 0

22.97

33.10

8.09

34.47

1.37

1 0 0 .0 0

22.79

32.21

6.96

1AA AA

Cash and due from banks.................................................... XvU.UV

1 &

United States Government obligations................................

l o . U 4

36.28 Other securities.............................................. 7.87 ft 7 A

35.25

1.36

Loans and discounts............................................. 36^54

o ./D

All other assets..................................................... 00*00 

1 HA

x .ou

1 .UO

Liabilities and capital— total............................ 1 0 0 .0 0

91.48

67.25

24.23

1.40

7.12

1 0 0 .0 0

91.51

1 0 0 .0 0 Q 1 9 A

100 00

Total deposits......................................................... X uU.V v 

Q1 2Q

Demand deposits................................................... 68.22

y 1 . 0 0

Time and savings deposits..................................... 23.29

69 22

Qo) t O

Borrowings and other liabilities.................................................. 1.56

6.93

22 02

l.*41 7

T'C

Total capital accounts.............................................. . 

i O

i .O O 7,42

Number of banks, December 31................................ 13,323 4,789 1 867

6 667

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year. 2 Less than .005.

Back figures, 1934-1953: See Table 110, pp. 140-141. See also the Annual Report for 1953, pp. 112-113, and earlier reports.

EARNINGS. EXPENSES, AND DIVIDENDS OF INSURED BANKS 145

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

T a b le 113. E a r n in g s , E x p e n ses, an d D iv id en d s o f In s u r e d C o m m erc ia l B a n k s O p e r a tin g T h r o u g h o u t 1954

in th e U n it e d States (C o n t in e n t a l U . S. a n d O t h e r A r e a s )

Banks with deposits of— 2

Earnings or expense item All

banks1 $1 ,0 0 0 ,0 0 0

or

less

$1 ,0 0 0 ,0 0 0

to

$2 ,0 0 0 ,0 0 0

$2 ,0 0 0 ,0 0 0

to

$5,000,000

$5,000,000

to

$1 0 ,0 0 0 ,0 0 0

$1 0 ,0 0 0 ,0 0 0

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$1 0 0 ,0 0 0 ,0 0 0

$1 0 0 ,0 0 0 ,0 0 0

to

$500,000,000

More

than

$500,000,000

Current operating earnings— total.............. 5,724,412 49,528 161,778

0

485,198

Amounts in t]

494,057

icusands of d

649,654

ollars)

421,475 422,630 1,176,540 1,863,555

Interest on U. S. Government obligations... 1,263,473 10,187

1,605

36,927 116,321 115,333 149,205 98,471 93,309 262,522 381,198

Interest and dividends on other securities. . . 322,124 6,930 26,539 29,780 36,985 23,371 22,153 55,023 119,741

Interest and discount on loans........................ 3,181,335 30,956 97,631 282,780 282,114 359,722 227,589 234,389 630,732 1,035,424

Service charges and fees on bank’s loans. . . . 57,200 333 811 2,265 3,343 5,246 3,512 3,648 9,836 28,208

Service charges on deposit accounts............... 308,496 2,303 8 ,0 0 1 27,852 34,050 49,320 30,262 26,419 52,550 77,738

Other service charges, commissions, fees,

and collection and exchange charges......... 143,233 3,353 8,489 18,335 13,681 16,203 9,660 9,320 24,913 39,279

Trust department................................................ 240,737

207,815

36 189 1,191 3,860 12,619 11,854 16,596 86,460 107,932

Other current operating earnings.................... 757 2,801 9,914 11,895 20,355 16,757 16,797 54,504 74,036

Current operating expenses— total.............. 3,602,487 32,611 104,473 318,014 328,169 439,694 283,440 289,775 743,129 1,072,184

Salaries— officers.................................................. 616,952 13,099 35,757 87,231 71,865 79,545 46,535 43,371 105,758 133,792

Salaries and wages— employees....................... 1,128,792 4,304 16,639 63,489 80,824 124,636 88,377 91,826 263,322 395,377

Fees paid to directors and members of executive, discount, and other committees........ 36,880

612,152

920 3,036 8,764 6,545 6,154 2,610 2,205 3,732 2,915

Interest on time and savings deposits........... 4,425 17,570 60,582 63,240 82,370 48,611 42,633 97,822 194,901

Interest and discount on borrowed money. . 8,496 34 72 2 0 2 289 368 320 594 2,150 4,464

Taxes other than on net income...................... 165,109 1,353 4,612 14,291 14,853 18,941 12,379 13,238 37,760 47,684

Recurring depreciation on banking house,

furniture and fixtures..................................... 93,603 773 2,829 10,249 1 1 ,2 1 0 14,964 9,155 8,435 18,654 17,334

Other current operating expenses................... 940,503 7,704 23,959 73,208 79,343 112,716 75,451 78,475 213,932 275,717

Net current operating earnings..................... 2,121,926 16,918 57,305 167,184 165,888 209,961 138,035 141,855 433,411 791,371

Recoveries, transfers from reserve accounts, and profits— total........................ 621,161 1,667 5,436 20,678 30,292 52,619 45,778 50,104 151,952 262,635

On securities:

Recoveries......................................................... 14,879 76 258 1,087 1,880 1,768 1,368 2,271 3,310 2,863

Transfers from reserve accounts.................. 59,344 2 0 1 0 2 372 467 1,236 2,270 1,630 16,925 36,321

Profits on securities sold or redeemed. . . . 413,753 417 2,043 11,659 21,070 41,965 36,623 37,749 106,563 155,663

On loans:

Recoveries......................................................... 33,386 896 2,143 4,612 3,216 2,554 1,264 1,131 4,383 13,187

Transfers from reserves accounts............... 52,882 85 253 887 1,067 1,298 1,458 3,344 8,565 35,926

All other................................................................. 46,917 174 636 2,062 2,592 3,799 2,795 3,980 12,206 18,675

Losses, charge-offs, and transfers to reserve accounts— to ta l................................ 550,130 3,003 9,332 30,661 33,409 45,535 32,568 43,125 134,621 217,878

On securities:

Losses and charge-offs.................................... 66,321 169 885 4,350 5,692 7,831 5,161 7,893 19,143 15,197

Transfers to reserve accounts...................... 125,806 11 156 961 1,737 4,081 4,713 5,808 36,399 71,941

On loans:

Losses and charge-offs.................................... 29,011 1,819 4,140 8,283 5,316 3,979 1,295 1,162 1,910 1,109

Transfers to reserve accounts...................... 222,066 602 2,561 10,969 13,739 19,803 15,240 20,268 49,627 89,257

All other................................................................. 106,928 402 1,590 6,098 6,926 9,843 6,159 7,994 27,543 40,375

146 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— tota l............................

Federal...................................................................

State ........................................................................

Net profits after income taxes........................

Dividends and interest on capital— total..

Dividends declared on preferred stock and

interest on capital notes and debentures. .

Cash dividends declared on common stock..

Net additions to capital from profits.........

2,192,957 15,583 53,409 157,201 162,770 217,045 151,245 148,835 450,741 836,128

900,878

855,746

45,132

4,441

4,243

198

15,026

14,394

631

47,973

46,418

1,555

55,568

53,966

1,602

80,287

77,844

2,443

59,519

57,915

1,604

61,831

59,862

1,969

204,867

196,309

8,559

371,368

344,795

26,572

1,292,078 11,144 38,383 109,228 107,203 136,758 91,725 87,004 245,874 464,769

513,710

2 ,8 6 6

510,844

3,827

7

3,819

11,913

30

11,883

34,700

127

34,572

32,383

170

32,213

42,442

340

42,102

27,362

168

27,194

29,847

807

29,041

99,288

1,217

98,071

231.949

231.949

778,369 7,316 26,469 74,529 74,820 94,316 64,364 57,158 146,585 232,812

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

3,154

40,247

15,841

89,105

1

204

1

476

16

813

28

1 ,8 8 8

62

3,314

104

7,719

127

3,999

75

9,133

239

4,829

194

10,506

207

2,672

233

5,733

633

3,130

378

8,546

1,735

6,607

4,876

14,345

134

14,681

9,953

30,760

Assets and liabilities3

Assets— tota l..........................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities....................................................

Loans and discounts...........................................

All other assets.....................................................

Liabilities and capital— total..........................

Total deposits.......................................................

Demand deposits...............................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts.......................................

198,892,354

42,880,641

67,518,344

15,868,175

69,784,266

2,840,928

1,355,807

313,165

464,717

65,247

504,406

8,272

4,736,980

1,028,934

1,704,133

290,397

1,678,433

35,083

15,042,643

3,144,993

5,513,092

1,214,660

5,041,730

128,168

15,584,287

3,147,705

5,688,477

1,450,714

5,141,711

155,680

20,539,564

4,040,359

7,634,880

1,844,480

6,770,720

249,125

14,058,341

2,859,261

5,233,854

1,207,334

4,578,427

179,465

14,505,439

3,082,398

5,150,874

1,161,925

4,913,281

196,961

42,503,789

10,057,793

14,322,715

2,798,103

14,748,046

577,132

70,565,504

15,206,033

21,805,602

5,835,315

26,407,512

1,311,042

198,892,354

181,756,840

133,708,51+5

1+8,053,295

2,979,795

14,155,719

1,355,807

1,212,956

920,962

291,994

3,245

139,606

4,736,980

4,293,945

3,051/.,678

1,239,267

12,987

430,048

15,042,643

13,796,911

9,334,323

1+, 1+62,588

49,989

1,195,743

15,584,287

14,367,437

9,1+03,352

1+,964,085

85,484

1,131,366

20,539,564

18,988,427

12,838,286

6,655,11+1

160,250

1,390,887

14,058,341

13,020,984

8,989,788

4,081,196

130,309

907,048

14,505,439

13,442,367

9,815,875

8,626,492

158,133

904,939

42,503,789

39,269,130

80,977,918

8,291,212

522,680

2,711,979

70,565,504

63,364,683

48,923,368

14,441,320

1,856,718

5,344,103

Number of active officers, December 3 1 ...........

Number of other employees, December 31.. . .

81,649

384,462

3,960

2,707

8,318

8,540

16,224

27,869

10,907

31,983

10,300

46,825

5,299

32,108

4,615

33,177

9,952

88,039

12,074

113,214

Number of banks, December 31.......................... 13,243 1,764 2,971 4,352 2,079 1,268 384 195 187 43

Note: Due to rounding differences, data may not add precisely to the indicated totals.

1 This group of banks is the same as the group shown in Table 111 under the heading “Operating throughout the year” .

2 Deposits are as of December 31, 1954.

3 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, 1954, for banks |__

not submitting reports to FDIC. ^

Back figures, 1941-1958: See the Annual Report for 1953, pp. 114-115, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

T a b le 114. R a t io s o f E a r n in g s , E x p e n s e s , a n d D iv id e n d s of I n s u r e d C o m m e r c ia l B a n k s O p e r a t in g T h r o u g h o u t 1954

in t h e U n it e d St a t e s (C o n t in e n t a l U . S. a n d O t h e r A r e a s )

Banks with deposits of— 2

Earnings or expense item All

banks1 $1 ,0 0 0 ,0 0 0

or

less

$1 ,0 0 0 ,0 0 0

to

$2 ,0 0 0 ,0 0 0

$2 ,0 0 0 ,0 0 0

to

$5,000,000

$5,000,000

to

$1 0 ,0 0 0 ,0 0 0

$1 0 ,0 0 0 ,0 0 0

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$1 0 0 ,0 0 0 ,0 0 0

$1 0 0 ,0 0 0 ,0 0 0

to

$500,000,000

More

than

$500,000,000

Am ounts per $100 of current

operating earnings

Current operating earnings— total.............. $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0 $1 0 0 .0 0

Interest on U. S. Government obligations.. . 22.07 20.57 22.83 23.97 23.34 22.97 23.36 22.08 22.31 20.46

Interest and dividends on other securities.. . 5.63 3.24 4.28 5.47 6.03 5.69 5.55 5.24 4.68 6.43

Income on loans................................................... 56.57 63.17 60.85 58.75 57.78 56.18 54.83 56.32 54.44 57.07

Service charges on deposit accounts............... 5.39 4.65 4.94 5.74 6.89 7.59 7.18 6.25 4.47 4.17

Other service charges, commissions, fees,

and collection and exchange charges......... 2.50 6.77 5.25 3.78 2.77 2.49 2.29 2 .2 1 2 .1 2 2 .1 1

Other current operating earnings.................... 7.84 1.60 1.85 2.29 3.19 5.08 6.79 7.90 11.98 9.76

Current operating expenses— total.............. 62.93 65.84 64.58 65.54 66.42 67.68 67.25 66.44 63.16 57.53

Salaries, wages, and fees................................... 31.14 37.00 34.26 32.87 32.23 32.37 32.63 32.51 31.69 28.55

Interest on time and savings deposits........... 10.69 8.93 1 0 .8 6 12.49 12.80 1 2 .6 8 11.53 10.09 8.31 10.46

Taxes other than on net income............... 2 .8 8 2.73 2.85 2.94 3.01 2.92 2.94 3.13 3.21 2.56

Recurring depreciation on banking house,

furniture and fixtures..................................... 1.64 1.56 1.75 2 .1 1 2.27 2.30 2.17 2 .0 0 1.58 .93

Other current operating expenses................... 16.58 15.62 14.86 15.13 16.11 17.41 17.98 18.71 18.37 15.03

Net current operating earnings..................... 37.07 34.16 35.42 34.46 33.58 32.32 32.75 33.56 36.84 42.47

Am ounts per $100 of total assets3

Current operating earnings— total...................... 2 .8 8 3.65 3.42 3.23 3.17 3.16 3.00 2.91 2.77 2.64

Current operating expenses— total...................... 1.81 2.41 2 .2 1 2 .1 2 2 .1 1 2.14 2 .0 2 1.94 1.75 1.52

Net current operating earnings............................ 1.07 1.25 1 .2 1 1 .1 1 1.06 1 .0 2 .98 .98 1 .0 2 1 .1 2

Recoveries, transfers from reserve accounts,

and profits— total............................................ .31 .1 2 .1 1 .14 .19 .26 .33 .35 .36 .37

Losses, charge-offs, and transfers to reserve

accounts— total................................................ .28 .2 2 .2 0 .2 0 .2 1 .2 2 .23 .30 .32 .31

Net profits before income taxes........................... 1 .1 0 1.15 1.13 1.05 1.04 1.06 1.08 1.03 1.06 1.18

Net profits after income taxes.............................. .65 .82 .81 .73 .69 .67 .65 .60 .58 .6 6

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... (4) (4) (4) (4) (4) (4) (4) (4) (4) (4)

On loans................................................................. .0 2 .0 2 .0 2 .0 2 .03 .0 2 .0 2 .0 2 .0 2 .0 2

Losses charged to reserve accounts (not included in losses above):

(4) (4) On securities......................................................... .0 1 .0 1 (4) (4) (4) (4) (4) .0 1

On loans................................................................. .04 .04 .04 .05 .06 .05 .04 .06 .03 .04

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Am ounts per $ 1 0 0 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.................

14.99

4.39

3.89

15.49

6.36

9.13

3.63

5.50

1 2 .1 2

1.19

2.15

11.16

3.18

7.98

2.74

5.24

13.33

1.26

2.17

12.42

3.49

8.93

2.77

6.16

13.98

1.73

2.57

13.14

4.01

9.13

2.90

6.23

14.66

2 .6 8

2.95

14.39

4.91

9.48

2.87

6.61

15.10

3.78

3.28

15.60

5.77

9.83

3.05

6.78

15.22

5.04

3.59

16.67

6.56

1 0 .1 1

3.01

7.10

15.68

5.54

4.77

16.45

6.83

9.62

3.30

6.32

15.98

5.60

4.96

16.62

7.55

9.07

3.66

5.41

14.81

4.92

4.08

15.65

6.95

8.70

4.34

4.38

^ Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... .0 2

On loans................................................................. (*) (4) .0 1 .0 1 .0 2 .0 2 .07 .06 (4)

Losses charged to reserve accounts (not includ­

.28 .15 .19 .28 .35 .35 .29 .35 .24 .27

ed in losses above):

On securities.......................................................... .1 1 (4) .0 1 .0 1 .0 1 .0 1 .03 .04 .18 .19 On loans................................................................. .63 .34 .44 .65 .81 .76 .63 .94 .53 .58

Special ratios*

Income on loans per $100 of loans......................

Income on U. S. Government obligations per

4.64 6 .2 0 5.87 5.65 5.55 5.39 5.05 4.84 4.34 4.03

$100 of U. S. Government obligations. .. .

Income on other securities per $ 1 0 0 of other

1.87 2.19 2.17 2 .1 1 2.03 1.95 1 .8 8 1.81 1.83 1.75

securities............................................................ 2.03 2.46 2.39 2.18 2.05 2 .0 1 1.94 1.91 1.97 2.05 Service charges per $ 1 0 0 of demand deposits..

Interest paid per $100 of time and savings

.23 .25 .26 .30 .36 .40 .34 .27 .17 .16

deposits............................................................... 1.27 1.52 1.42 1.36 1.27 1.24 1.19 1.18 1.18 1.35

Assets and liabilities per $100 of

total assets3

Assets— tota l........................................................... 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 Cash and due from banks................................. 21.56 23.10 21.72 20.91 2 0 .2 0 19.67 20.34 21.25 23.66 21.55 United States Government obligations......... 33.95 34.28 35.98 36.65 36.50 37.17 37.23 35.51 33.70 30.90 Other securities.................................................... 7.98 4.81 6.13 8.07 9.31 8.98 8.59 8 .0 1 6.58 8.27 Loans and discounts........................................... 35.08 37.20 35.43 33.52 32.99 32.97 32.57 33.87 34.70 37.42 All other assets..................................................... 1.43 .61 .74 .85 1 .0 0 1 .2 1 1.27 1.36 1.36 1 .8 6

Liabilities and capital— total.......................... 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 Total deposits....................................................... 91.38 89.46 90.65 91.72 92.19 92.45 92.62 92.67 92.39 89.80 Demand deposits............................................... 67.22 67.98 64.49 62.05 60.34 60.05 68.59 67.67 72.88 69.83 Time and savings deposits.............................. 24.16 21.53 26.16 29.67 31.85 32.40 29.03 25.00 19.51 20.47 Borrowings and other liabilities...................... 1.50 .24 .27 .33 .55 .78 .93 1.09 1.23 2.63 Total capital accounts........................................ 7.12 10.30 9.08 7.95 7.26 6.77 6.45 6.24 6.38 7.57

Number of banks, December 31.......................... 13,243 1,764 2,971 4,352 2,079 1,268 384 195 187 43

1 This group of banks is the same as the group shown in Table 111 under the heading “Operating throughout the year". These ratios differ slightly from the ratios for all insured

commercial banks shown in Tables 110 and 112.

2 Deposits are as of December 31, 1954.

* 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. 1954, for banks

not submitting reports to FDIC.

4 Less than .005.

Back figures, 1941-1958: See the Annual Report for 1953, pp. 116-117, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 11 5 . 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 i a 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 , 1954

(Amounts in thousands of dollars)

Earnings or expense item

U. S.

(continental

U. S. and

other

areas)

Other areas

Continental

United

States

Alabama Arizona Arkansas California Colorado Connecticut

Alaska Puerto

Rico Other1

Current operating earnings— total.............. 5,773,787 4,594 8,947 1,647 5,758,599 51,116 27,424 30,694 650,208 49,146 70,034

Interest on U. S. Government obligations. . 1,272,731 1,066 454 271 1,270,940 10,155 4,467 6,134 119,162 10,610 13,566

Interest and dividends on other securities. . 324,823 239 704 103 323,777 3,412 1,351 2,270 32,926 1,357 3,465

Interest and discount on loans........................ 3,205,894 2,014 6,099 9S8 3,196,783 29,502 16,041 16,980 885,446 28,570 37,446

Service charges and fees on bank’s loans. . . 57,550 219 144 9 57,178 304 557 71 14,401 618 361

Service charges on deposit accounts............... 311,806 327 139 103 311,237 3,001 2,239 1,848 47,584 4,212 4,707

Other service charges, commissions, fees,

and collection and exchange charges......... 144,140 572 1,181 139 142,248 1,914 808 2,224 11,357 904 1,258

246,223 33 5 246,185 1,175 636 286 18,490 1,608 6,224

Other current operating earnings.................... 210,621 123 2 2 1 25 210,252 1,652 1,324 883 20,839 1,267 3,007

Current operating expenses— total.............. 3,638,087 3,284 7,307 1,242 3,626,254 31,389 19,844 19,498 414,931 31,773 47,098

Salaries— officers.................................................. 622,862 6 8 8 1,204 204 620,766 7,133 3,068 5,234 50,773 6,149 8,382

Salaries and wages— employees....................... 1,139,013 1,115 2,154 377 1,135,367 9,028 6,685 4,594 134,514 9,436 15,333

Fees paid to directors and members of executive, discount, and other committees. . . . 37,197 13 97 36 37,051 434 54 492 1,075 475 481

Interest on time and savings deposits........... 618,341 405 1,228 238 616,470 4,118 2,710 2,267 122,377 5,909 6,353

Interest and discount on borrowed money. . 8,556 1 46 8,509 27 14 5 421 57 97

Taxes other than on net income...................... 166,452 97 461 30 165,864 577 472 916 16,884 701 1,623

Recurring depreciation on banking house,

furniture and fixtures..................................... 94,720 174 286 40 94,220 1,044 685 566 7,939 706 1,489

Other current operating expenses.................... 950,945 791 1,830 318 948,006 9,026 6,157 5,427 80,950 8,340 13,341

Net current operating earnings..................... 2,135,700 1,310 1,640 405 2,132,345 19,727 7,580 11,197 235,277 17,373 22,935

Recoveries, transfers from reserve accounts, and profits— total........................ 631,496 245 498 129 630,624 5,033 2,706 3,025 71,864 5,210 4,769

On securities:

Recoveries......................................................... 14,912 2 14,910 64 31 912 169 65

Transfers from reserve accounts ............... 60,555 1 18 60,,536 254 250 25,069 1 2 2 402

Profits on securities sold or redeemed. . . . 416,520 163 428 64 415,865 3,915 2,158 2,186 37,210 3,398 3,609

On loans:

Recoveries.......................................................... 34,014 52 5 15 33,942 439 9 307 3,696 580 163

Transfers from reserve accounts................. 57,965 1 26 49 57,889 108 475 62 2,409 107 236

All other................................................................. 47,530 27 2 1 1 47,481 254 63 189 2,568 834 294

Losses, charge-offs, and transfers to reserve accounts— tota l................................. 552,606 445 637 507 551,017 3,594 1,498 2,187 58,151 5,427 5,250

On securities:

Losses and charge-offs.................................... 66,670 3 40 8 66,619 263 152 260 4,931 682 178

Transfers to reserve accounts...................... 126,173 26 301 125,846 273 355 2 2 ,6 8 8 152 582

On loans:

Losses and charge-offs.................................... 29,269 54 23 310 28,882 796 186 612 863 837 43

Transfers to reserve accounts...................... 222,998 332 108 131 222,427 1,492 8 8 6 546 17,293 2,346 2,527

All other................................................................. 107,497 31 166 57 107,243 769 275 415 12,377 1,411 1,921

Net profits before income taxes..................... 2,214,591 1 ,1 1 0 1,501 28 2,211,952 21,167 8,787 12,034 248,989 17,156 22,454

DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— to ta l............................

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.........

907,560

862,065

45,495

549

546

3

171

1 2 0

51

38

38

906,802

861,361

45,441

8,093

7,345

749

3,446

3,161

286

3.488

3.488

114,114

104,319

9,795

7,130

6,566

564

9,590

8,594

996

1,307,032 561 1,329 -10 1,305,152 13,075 5,341 8,546 134,875 10,026 12,865

516,977

2,912

514,066

162 787 80 515,948

2,912

513,037

4,164 1,836 2,555 63,691

65

63,626

3,151 5,587

162 787 80 4,163 1,836 2,555 3,151 5,587

790,055 399 543 -90 789,203 8,911 3,505 5,993 71,184 6,875 7,278

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

3,154

40,384

15,841

89,495

3,154

40,218

15,841

89,149

8

131

1 0

216

473

8,790

9,832

14,937

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

109 57 258

2

1,092

788 779

2

1,670

312

On loans................................................................. 132 171 43 834 1 ,0 1 2

Average assets and liabilities2

Assets— tota l...........................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities....................................................

Loans and discounts...........................................

All other assets.....................................................

Liabilities and capital— total..........................

Total deposits.......................................................

Demand deposits...............................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts........................................

193,339,614

42,976,798

64,372,065

15,209,165

68,148,039

2,633,547

112,976

23,546

49.999

10,709

26.999

1,723

197,962

36,817

25,028

29,865

98,563

7,689

46,134

9,175

13,238

3,881

18,870

970

192,982,542

42,907,260

64,283,800

15,164,710

68,003,607

2,623,165

1,624,072

391,367

521,342

173,549

519,067

18,747

704,158

126,678

230,397

61,479

271,528

14,076

1,016,928

283,428

313,176

94,792

317,723

7,809

18,625,335

3,366,933

5,881,304

1,536,916

7,527,543

312,639

1,576,801

396,020

586,987

63,217

519,440

11,137

2,108,517

446,209

688,317

210,565

734,604

28,822

193,339,614

176,865,497

180,023,191

1*6,81*2,806

2,712,778

13,761,339

112,976

107,642

66,259

1*1,383

371

4,963

197,962

174,663

91,220

83,1*1*3

5,482

17,817

46,134

42,064

21*,51*6

17,518

218

3,852

192,982,542

176,541,128

129,81*1,166

1*6,699,962

2,706,707

13,734,707

1,624,072

1,492,828

1,161*,862

327,966

13,302

117,942

704,158

651,464

1*93,560

157,901*

10,367

42,327

1,016,928

936,026

792,131

11*3,895

3,643

77,259

18,625,335

17,138,110

9,531,31*5

7,606,765

407,120

1,080,105

1,576,801

1,466,150

1,106,903

359,21*7

11,312

99,339

2,108,517

1,936,967

1,1*76,1*01*

1*60,563

21,398

150,152

Number of active officers, December 31 ...........

Number of other employees, December 31....

82,167

386,625

69

288

224

1,064

32

174

81,842

385,099

1,065

3,648

367

2,348

943

1,948

6,132

39,039

847

3,440

922

5,409

Number of banks, December 31.......................... 13,323 9 7 5 13,302 234 1 2 225 162 152 92

Note: Due to rounding differences, data may not add precisely to the indicated totals.

1 Includes 3 banks in Hawaii, and 2 banks in the Virgin Islands, not members of the Federal Reserve System.

* 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)” and 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. i—*

Back figures, 191*6-1958: See the Annual Report for 1953, pp. 118-127, and earlier reports. £2

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 115. 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 t in e n t a l U . S. an d O t h e r A r e a s ), b y S t a t e , 1954— Continued

(Amounts in thousands of dollars)

Earnings or expense item Delaware District of

Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana

Current operating earnings— total.............. 21,003 41,291 89,546 82,493 19,253 399,504 119,029 84,009 56,138 58,687 66,590

Interest on U. S. Government obligations. . 3,541 10,455 24,223 12,604 4,301 127,236 36,325 21,475 14,064 14,087 16,222

Interest and dividends on other securities.. 710 1,324 4,387 3,482

49,437

470 26,389 4,706

61,350

4,332 4,093 2,206 4,747

Interest and discount on loans........................ 11,472 20,843 42,783 12,124 183,288 47,633 30,310 35,078 34,386

Service charges and fees on bank’s loans.. . 204 287 637 1,038 209 3,781 659 178 395 425 165

Service charges on deposit accounts............... 425 3,096 8,216 5,123 1,283 17,710 5,797 5,358 3,681 2,243 3,951

Other service charges, commissions, fees,

and collection and exchange charges......... 218 1,384 2,867 4,882 359 7,265 2,881 2,268 1,132 839 3,436

Trust department................................................ 4,160 2,477 2,174 2,433 77 22,094 3,048 848 528 2,194 720

Other current operating earnings.................... 276 1,425 4,260 3,494 432 11,740 4,266 1,918 1,936 1,615 2,963

Current operating expenses— total.............. 11,372 27,379 58,599 56,092 12,452 246,829 77,563 53,741 34,800 34,731 43,184

Salaries— officers.................................................. 2,407 4,308 10,575 11,190 2,658 42,546 14,975 14,490 9,813 8,277 8,325

Salaries and wages— employees....................... 3,731 9,322 18,262 14,905 3,263 74,618 2 1 ,8 8 8 12,070 8,363 9,325 12,463

Fees paid to directors and members of executive, discount, and other committees. . . . 192 316 826 776 97 2,319 1,134 615 586 672 671

Interest on time and savings deposits........... 1,139 4,257 7,183 6,295 2,897 44,567 12,751 9,947 4,219 3,579 4,826

Interest and discount on borrowed money. . 6 6 36 63 215 13 671 15 61 2 0 57 108

Taxes other than on net income...................... 307 1,758 1,756 3,620 251 10,791 5,673 1,758 1,561 2,636 3,620

Recurring depreciation on banking house,

furniture and fixtures..................................... 467 887 2,824 1,775 437 4,837 1,945 1,427 782 901 1,251

Other current operating expenses.................... 3,064 6,495 17,110 17,317 2,835 66,479 19,183 13,375 9,455 9,283 11,920

Net current operating earnings..................... 9,631 13,912 30,947 26,401 6,802 152,675 41,466 30,268 21,338 23,957 23,406

Recoveries, transfers from reserve accounts, and profits— total........................ 1,607 3,305 7,250 7,011 2,648 52,772 12,164 6,934 4,974 5,087 3,495

On securities:

Recoveries......................................................... 5 34 71 17 18 1,386 168 73 262 46 58

Transfers from reserve accounts.................

Profits on securities sold or redeemed. . . .

89

1,197 2,524

1 2 1

6,515

65

6,195 2,520

2,342

43,510

1,219

9,171

108

5,739

56

3,364

551

3,546

2 2 1

2,297

On loans:

Recoveries......................................................... 53 235 173 337 50 677 314 411 814 255 359

Transfers from reserve accounts................. 11 1 336 37 95 34 3,340 260 59 69 396 29

All other................................................................. 152 176 333 301 25 1,517 1,030 544 410 292 531

Losses, charge-oifs, and transfers to reserve accounts— total................................. 1,981 2,745 4,888 4,007 793 35,784 10,331 5,729 4,641 5,899 5,343

On securities:

Losses and charge-offs.................................... 374 164 712 436 27 8,173 897 1,358 1,127 264 699

Transfers to reserve accounts......................

On loans:

Losses and charge-offs....................................

172

97 138

758

256

81

640 69

8,858

1,317

1,470

465

285

680

184

1,279

1,386

381

450

477

Transfers to reserve accounts...................... 718 1,525 2,625 2,113 535 12,615 3,208 1,746 929 2 ,1 1 0 1,921

All other................................................................. 621 918 536 738 161 4,821 4,291 1,661 1 ,1 2 2 1,759 1,797

Net profits before income taxes..................... 9,258 14,472 33,310 29,404 8,657 169,663 43,297 31,472 21,671 23,143 21,558

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— tota l............................

Federal...................................................................

State........................................................................

4.270

4.270

7.699

7.699

12.412

12.412

10.824

10.824

3,364

3,126

237

64.305

64.305

16.471

16.471

9.977

9.977

7.065

7.065

9.381

9.381

8,168

8,168

Net profits after income taxes........................ 4,988 6,773 20,898 18,580 5,294 105,358 26,826 21,496 14,606 13,762 13,390

Dividends and interest on capital— to ta l..

Dividends declared on preferred stock and

interest on capital notes and debentures..

2,985 3,553 4,739

1 0

6,605

2

1,182 30,891

6 8

30,823

6,487

18

6,468

5,965

36

5,930

3,583 4,603

3

4,600

3,858

2

Cash dividends declared on common stock.. 2,985 3,553 4,729 6,603 1,182 3,582 3,855

Net additions to caoital from profits......... 2,003 3,220 16,159 11,976 4,113 74,467 20,340 15,531 11,024 9,160 9,533

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 13 2 3 1 54

360

o

Q

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities........................................................

6 6

49

87 309 802

3

43 3,238

360

4,103

1,092

15

2,083

407 520 229

C

On loans.................................................... 126 195 703 1,474 254 722 949 783 605

Average assets and liabilities1

Assets— tota l...........................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities.......................................

Loans and discounts...........................................

All other assets.....................................................

590,221

103,161

211,473

24,628

241,958

9,001

1,389,633

331,977

504,706

60,116

468,132

24,702

2,964,327

742,389

1,194,815

203,823

780,821

42,479

2,296,857

587,728

637,163

141,478

898,713

31,775

542,777

96,431

202,708

20,152

218,363

5,123

15,870,319

3,482,134

6,391,156

1,283,800

4,608,108

105,121

4,186,206

913,753

1,826,841

245,730

1,163,999

35,883

2,773,197

565,259

969,969

234,067

985,805

18,097

1,975,118

490,501

677,030

206,165

589,212

1 2 ,2 1 0

1,999,010

515,914

698,273

88,402

680,589

15,832

2,426,651

670,827

856,758

194,873

673,857

30,336

Liabilities and capital— total..........................

Total deposits..........................................

Demand deposits...............................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts........................................

590,221

525,818

1*27,513

98,305

6,338

58,065

1,389,633

1,287,784

1,001*,061

283,723

11,640

90,209

2,964,327

2,762,797

2,196,1*06

566,391

22,321

179,209

2,296,857

2,101,150

1,695,738

1*05,1*12

27,906

167,801

542,777

509,400

351,722

157,678

3,513

29,864

15,870,319

14.751.237

10.808.237

3,91*3,000

117,288

1,001,794

4,186,206

3,903,152

2,797,116

1,106,036

28,948

254,106

2,773,197

2,566,558

1,895,850

670,708

6,430

200,209

1,975,118

1,838,451

1,580,1*23

258,028

6,950

129,717

1,999,010

1,834,713

1,533,1*21

301,292

14,156

150,141

2,426,651

2,271,483

1,911,933

359,550

18,088

137,080

Number of active officers, December 3 1 ...........

Number of other employees, December 31. . . .

278

1,372

412

3,104

1,504

7,277

1,638

5,492

357

1,233

5,025

23,713

2,239

8 ,1 0 1

2,308

4,964

1,731

3,413

1,543

3,965

1,075

4,631

Number of banks, December 31........................ 33 17 2 2 1 347 38 902 466 615 487 354 171

Note: Due to rounding differences, data 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*6-1953: See the Annual Report for 1953, pp. 118-127, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 115. E a r n in g s , E x p e n ses, 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 th e r A r e a s ), b y S t a t e , 1954— 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.............. 19,798 55,737 158,381 229,611 118,756 32,116 151,014 22,262 45,307 9,776 10,553

Interest on U. S. Government obligations. . 3,525 14,394 29,014 64,153 24,723 6,134 35,483 5,866 12,152 2,082 1,824

Interest and dividends on other securities.. 823 2,626 6,961 11,969 6,004 3,321 7,879 1,027 2,374 314 534

Interest and discount on loans........................ 12,781 29,956 86,856 126,371 65,641 16,651 89,074 11,729 24,750 5,649 6,485

Service charges and fees on bank’s loans. . . 85 144 8 8 8 1,921 859 95 635 260 128 412 31

Service charges on deposit accounts............... 1,229 4,130 10,161 11,730 6,859 1 ,6 6 8 6,094 1,782 2,737 509 945

Other service charges, commissions, fees,

and collection and exchange charges......... 339 1,380 4,597 4,991 8,314 3,139 3,132 785 1,106 197 181

599 1,512 12,294 3,524 3,097 207 3,855 90 575 262 169

Other current operating earnings.................... 418 1,598 7,609 4,950 3,259 903 4,862 723 1,485 352 386

Current operating expenses— total.............. 13,697 36,520 99,435 146,048 77,558 21,218 89,840 13,653 27,600 6,059 7,178

Salaries— officers.................................................. 2,117 5,527 16,669 20,659 17,331 5,371 17,924 3,187 8,228 1,059 1,368

Salaries and wages— employees....................... 3,633 11,928 36,156 49,562 20,867 5,482 27,581 3,505 6,877 2 ,1 1 1 1,730

Fees paid to directors and members of executive, discount, and other committees. . . . 228 585 905 1,319 998 400 1,187 125 507 14 142

Interest on time and savings deposits........... 3,241 6,204 7,605 26,667 15,230 1,793 12,041 1,430 1,606 1,067 1,470

Interest and discount on borrowed money.. 14 77 2 0 2 277 136 26 2 1 2 8 95

309

10

Taxes other than on net income. .................... 585 1,925 3,868 7,811 1,528 1,400 3,483 1,345 1,381 264

Recurring depreciation on banking house,

furniture and fixtures..................................... 322 1,079 3,199

30,832

4,134 1,524 516 2,348 349 735 190 197

Other current operating expenses.................... 3,558 9,195 35,619 19,942 6,230 25,064 3,704 8,169 1,312 2 ,0 0 0

Net current operating earnings..................... 6,102 19,218 58,945 83,563 41,198 10,898 61,174 8,609 17,707 3,717 3,374

Recoveries, transfers from reserve accounts , and profits— total........................ 1,637 6,930 15,549 39,337 7,311 1,869 17,703 2,480 6,318 342 1,050

On securities:

Recoveries .............................. 280 12 1 342 588 246 162 1,621 8 6 123 176

Transfers from reserve accounts.................

Profits on securities sold or redeemed. . . . 725

380

5,940

930

9,771

2,789

25,749

17

5,552

1 2 0

953

839

12,643

320

1,378

1,656

3,276 324 729

On loans:

146 106 1,929 818 958 2 2 1 564 418 239 6 54

Transfers from reserve accounts • • 183 209 1,286 7,263

2,631

82 164 313 115 852 3

303 175 1,293 457 249 1,724 163 174 12 89

Losses, charge-offs, and transfers to reserve accounts— tota l................................. 1,670 5,481 17,411 28,655 8,251 3,458 12,759 4,216 4,737 361 1,073

On securities:

Losses and charge-offs.................................... 246 1,467

1,184

103

1,579 2,565 1,809 527 4,006 1,291 1,232 1 372

Transfers to reserve accounts 31 3,164

2 0 2

5,993

642

1,637

1,561

194 3,086

953

799 536 98

On loans:

Losses and charge-offs.................................... 256 530 563 516 4 71

Transfers to reserve accounts...................... 794 1,591 8,074 17,037 1,996 1,367 3,370 896 1,454 143 214

All other................................................................. 345 1,136 4,393 2,418 1,247 841 1,345 667 1 ,0 0 0 214 318

Net profits before income taxes..................... 6,067 20,667 57,084 94,246 40,259 9,310 66,118 6,874 19,289 3,698 3,351

154 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— tota l............................

Federal...................................................................

State........................................................................

2.270

2.270

9.402

9.402

26,243

21,904

4,340

37.098

37.098

16,265

14,285

1,979

2.937

2.937

27,707

27,028

679

3,057

2,989

6 8

6.029

6.029

1.584

1.584

1.095

1.095

Net profits after income taxes........................

Dividends and interest on capital— total. .

Dividends declared on preferred stock and

interest on capital notes and debentures. .

Cash dividends declared on common stock. .

Net additions to capital from profits.........

3,797 11,266 30,840 57,148 23,994 6,372 38,411 3,817 13,260 2,114 2,257

1,402

5

1,397

4,614

16

4,600

17,224

15

17,209

16,553

119

16,434

8,470

5

8,465

2,275

2 0

2,255

12,442

38

12,405

1,600

1,600

3,459

1

3,458

724

724

727

727

2,394 6,652 13,617 40,595 15,525 4,097 25,970 2,217 9,801 1,390 1,531

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 2 0

155

33

358

206

529

142

2,214

7

452

1,245

875

14

248

1

690

28

1,404

48

2,088

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

136

1

277

1,664

44

3,476

127 502

5

783

82 38

On loans................................................................. 249 169 1 11

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

534,918

99,992

171,776

36,650

219,248

7,252

1,985,894

419,917

765,170

134,449

638,989

27,369

4,979,597

1,072,589

1,542,678

321,755

1,946,972

95,603

7,452,299

1,408,577

3,024,002

642,924

2,298,451

78,345

3,625,553

787,754

1,199,113

292,799

1,313,619

32,268

994,635

246,766

277,167

140,746

317,728

12,228

5,532,973

1,397,632

1,793,777

366,696

1,926,970

47,898

700,415

162,609

284,259

48,251

199,701

5,595

1,596,842

384,938

581,413

124,988

494,962

10,541

282,645

50,346

113,859

14,672

99,451

4,317

295,047

63,123

87,782

22,579

118,509

3,054

534,918

482,984

279,507

203,477

4,173

47,761

1,985,894

1,837,717

1,341,270

496,447

14,425

133,752

4,979,597

4,452,747

3,734,284

718,463

95,702

431,148

7,452,299

6,948,010

4,133,982

2,814,028

81,246

423,043

3,625,553

3,345,168

2,310,970

1,034,198

35,530

244,855

994,635

920,013

763,154

156,859

5,638

68,984

5,532,973

5,134,440

4,234,897

899,543

42,365

356,168

700,415

661,666

536,696

124,970

4,859

33,890

1,596,842

1,481,330

1,316,994

164,336

6,802

108,710

282,645

264,793

179,886

84,907

3,212

14,640

295,047

263,313

181,749

81,564

1,682

30,052

Number of active officers, December 3 1 ...........

Number of other employees, December 31....

347

1,537

894

4,721

1,895

12,978

2,351

15,954

2,753

7,866

880

2,181

2,802

10,701

463

1,348

1,314

2,788

153

783

238

715

Number of banks, December 31.......................... 54 151 171 419 667 194 581 1 1 0 375 8 63

Note: Due to rounding differences, data 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, 1946-1953: See the Annual Report for 1953, pp. 118-127, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS 155

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 115. E a r n in g s , E x p e n ses, an d D iv id e n d s o f 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 ), b y S t a t e , 1954— 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..............

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

186,170

43,011

14,084

101,852

877

12,188

2,549

5,643

5,969

16,030

3,559

308

9,786

162

1,159

401

196

461

1,077,386

208,517

63,788

590,839

10,931

42,297

25,292

85,299

50,423

79,324

13,633

4,848

45,059

1,091

4,160

5,733

2,546

2,255

18,617

4,564

665

9,515

143

1 ,2 0 1

2 ,0 0 0

73

457

278,870

73,019

15,659

146,782

2,179

14,431

4,759

10,633

11,410

66,930

13,119

3,717

39,978

232

4,635

1 ,2 0 2

642

3,406

60,164

10,664

3,342

36,775

587

4,864

1 ,1 2 2

1,233

1,575

409,831

86,957

33,479

224,658

2,614

14,177

5,718

27,356

14,873

28,308

6,114

757

16,078

3

1,134

326

2,182

1,717

27,788

6,443

1,522

14,508

92

2,241

2,016

497

470

Current operating expenses— total..............

Salaries and wages— employees.......................

Fees paid to directors and members of executive, discount, and other committees-----

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

Interest and discount on borrowed money. .

Taxes other than on net income......................

Recurring depreciation on banking house,

furniture and fixtures.....................................

Other current operating expenses...................

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

Recoveries, transfers from reserve accounts, and profits— total........................

On securities:

Transfers from reserve accounts.................

Profits on securities sold or redeemed... .

On loans:

Recoveries.........................................................

Transfers from reserve accounts.................

129,833

19.083

40,645

1,789

22,960

243

7,191

4,838

33.084

10,822

2,206

3.342

106

1.343

1

527

458

2,839

638,812

87,546

240,429

3,988

83,954

3,301

19,456

10,435

189,704

50,240

1 1 ,0 2 1

14,132

474

7,112

227

1,607

1,710

13,958

10,909

3,066

2,441

138

1,843

1 1

289

231

2,892

183,164

26,197

51,611

1,816

38,512

344

17,457

4,334

42,894

40,495

10,323

10,985

431

4,258

135

818

1,537

12,006

40,128

6,918

1 2 ,6 8 8

124

10,309

38

887

1,347

7,816

251,045

41,099

80,819

3,911

40,092

329

11,630

7,657

65,509

19,321

2,599

6,057

2 1 1

3,895

19

1,300

588

4,653

17,027

4,154

5,251

281

1,319

33

296

620

5,074

56,339 5,208 438,574 29,084 7,708 95,705 26,436 20,035 158,786 8,988 10,761

15,272

251

315

10,691

469

1 ,2 0 2

2,343

742

58

97

328

129

19

1 1 2

144,605

1,819

14,652

78,158

11,566

24,090

14,320

5,212

103

61

3,875

232

640

301

1,035

15

852

8 8

13

67

34,002

1,832

647

28,450

635

1,282

1,157

4,644

104

1

3,525

706

2 2

287

2,802

181

1,310

173

837

301

45,834

1,027

4,873

26,479

1,191

8,481

3,783

2,656

5

1,685

80

448

439

2,155

33

1,876

76

87

83

Losses, charge-offs, and transfers to reserve accounts— tota l.................................

On securities:

Losses and charge-offs....................................

Transfers to reserve accounts......................

On loans:

Losses and charge-offs....................................

Transfers to reserve accounts......................

All other.................................................................

14,662

1,962

1,265

265

8,990

2,181

1,551

147

299

960

145

121,428

6,391

32,914

1,639

63,787

16,697

6,365

1,355

659

340

2,486

1,525

1,561

432

7

136

631

355

31,956

3,967

14,306

1,056

8,892

3,735

3,254

295

5

1,301

1,036

617

5,063

542

43

978

3,500

46,785

4,017

12,174

1,250

14,278

15,065

5,030

18

990

31

2,630

1,360

1,656

136

31

275

589

625

Net profits before income taxes..................... 56,948 4,400 461,750 27,931 7,182 97,752 27,827 17,775 157,835 6,614 11,260

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— tota l............................

Federal...................................................................

State........................................................................

18.902

18.902

2.346

2.346

196,238

175,316

20,922

12,032

11,525

507

2,545

2,456

89

42.497

42.497

10,973

10,287

685

8,823

7,251

1,572

63.418

63.418

3,862

3,490

372

4,409

4,171

239

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.........

38,046 2,054 265,514 15,899 4,637 55,256 16,855 8,952 94,418 2,752 6,851

13,140

798

12,342

874

2

872

133,895

1,401

132,494

4,983

2

4,981

1.510

1.510

20,099

2 0

20,080

5.222

5.222

5.285

5.285

44,313

30

44,283

2.155

2.155

2.157

2.157

24,906 1,180 131,618 10,916 3,126 35,157 11,632 3,667 50,105 597 4,694

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 39

692

168

2,664

1,846

5,507

1,440

17,552

1

2 2 1

11

682

198

1,425

1,167

2,344

74

1,581

542

6,430

85

49

1

524

On loans......................................................

Losses charged to reserve accounts (not included in losses above):

On securities.........................................

266 123 464 426 1 11

On loans.............................................. 828 234 940 912 279

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 deoosits........................................

Demand deposits................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts.......................................

5,890,495

986,031

2,110,926

690,408

2,016,838

86,292

493,772

145,937

176,589

14,126

151,315

5,805

39,827,397

9,231,742

11,405,801

2,996,353

15,452,226

741,275

2,376,765

567,629

677,312

255,643

844,142

32,039

524,036

89,652

219,214

34,357

176,841

3,972

9,862,054

2,025,900

3,750,466

751,523

3,225,412

108,753

2,249,376

655,554

674,091

193,538

703,099

23,094

1,778,986

345,988

555,590

168,831

681,535

27,042

13,214,722

2,660,251

4,269,050

1,415,559

4,691,533

178,329

837,213

129,451

307,892

42,052

342,286

15,532

880,844

229,967

302,690

76,733

262,527

8,927

5,890,495

5,441,117

3,207,065

2,234,052

49,233

400,145

493.772

464,969

381.772

83,197

2,185

26,618

39,827,397

35,374,981

29,139,913

6,235,068

1,144,186

3,308,230

2,376,765

2,161,215

1,642,974

518,241

44,061

171,489

524,036

485,641

357,968

127,673

3,096

35,299

9,862,054

9,134,435

5,970,216

3,164,219

86,542

641,077

2,249,376

2,076,883

1,816,653

260,230

12,392

160,101

1,778,986

1,634,098

1,054,941

579,157

22,313

122,575

13,214,722

11,843,321

8,289,338

3,553,983

115,631

1,255,770

837,213

762,622

476,278

286,344

11,567

63,024

880,844

814,054

697,863

116,191

6,973

59,817

Number of active officers, December 3 1 .........

Number of other employees, December 31. .. .

2,386

14,119

315

1,252

7,917

71,189

1,533

5,328

525

1,085

3,447

17,467

1,676

4,289

1,040

4,117

5,369

27,936

278

2,449

653

2,083

Number of banks, December 31.......................... 304 52 549 223 149 629 376 45 843 8 139

Note: Due to rounding differences, data 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.

O i

Back figures, 191*6-1953: See the Annual Report for 1953, pp. 118-127, and earlier reports.

EARNINGS. EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 115. E a r n in g s , E x p e n ses, 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 ), b y S t a t e , 1954— 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..............

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........

Other current operating earnings....................

21,417

4,893

705

11,986

145

1,368

1,773

103

444

82,572

15,353

3,951

53,299

555

2,495

2,545

1,623

2,753

273,839

51,152

13,581

167,213

4,171

14,271

4,531

4,332

14,588

26,581

5,349

905

15,724

916

1,458

893

530

806

11,950

1,925

600

8 ,0 2 2

96

693

172

203

240

87,583

17,150

3,808

54,280

622

5,021

1,631

3,002

2,068

83,475

13,710

4,913

49,961

906

7,657

2,392

2,026

1,909

36,586

10,015

1,534

20,532

271

1,295

758

1,071

1 ,1 1 0

105,134

31,306

5,758

55,285

729

5,458

1,961

1,564

3,073

10,572

2,513

402

6 ,0 2 2

1 1 0

714

321

81

408

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

13,391

3,879

3,018

252

2,148

16

281

328

3,469

52,817

9,830

13,819

498

10,769

138

3,278

1,642

12,842

171,095

37,626

46,942

1,992

14,935

277

14,737

6 ,1 0 2

48,485

17,107

2,780

4,585

248

4,634

26

326

435

4,072

8,868

1,353

1,827

180

3,239

11

186

214

1,860

57,752

10,709

15,183

878

13,264

130

2 ,6 6 8

2,045

12,877

53,952

9,568

18,529

252

8,461

8 6

1,290

2,151

13,615

21,721

4,331

5,662

425

4,108

60

903

862

5,372

71,130

15,121

18,468

1,315

14,430

69

1,647

1,936

18,144

6,548

1,613

1,707

1 21

1,146

14

285

198

1,462

Net current operating earnings..................... 8,026 29,755 102,744 9,475 3,082 29,831 29,523 14,865 34,005 4,025

Recoveries, transfers from reserve accounts, and profits— total........................

On securities:

Transfers from reserve accounts.................

Profits on securities sold or redeemed... .

On loans:

Transfers from reserve accounts.................

All other.................................................................

Losses, charge-offs, and transfers to reserve accounts— tota l................................

On securities:

Losses and charge-offs....................................

Transfers to reserve accounts......................

On loans:

Losses and charge-offs....................................

Transfers to reserve accounts......................

914

4

15

733

1 2 0

6

37

7,550

244

844

5,383

282

493

305

27,424

606

124

16,835

3,122

901

5,836

2,318

12

1,992

105

72

137

761

2 2

19

467

54

47

152

6,861

144

527

5,471

326

157

237

4,908

91

63

4,252

1 2 1

5

375

2,900

70

2 0 0

2,185

181

139

126

16,549

1,177

165

14,416

191

311

288

1,104

1

2

810

263

11

18

1,408

377

5

159

6 6 6

2 0 1

7,299

1,732

1,707

435

1,860

1,564

28,801

3,127

861

5,500

12,729

6,585

908

85

70

474

280

619

113

2

8 8

306

1 1 1

5,924

808

2,025

286

1,857

948

7,170

2,527

1,742

1 2 0

2,183

598

2,503

205

34

479

1,038

748

9,968

2,528

2,700

2 2 2

3,799

719

791

68

6

348

196

173

Net profits before income taxes..................... 7,533 30,007 101,367 10,884 3,224 30,768 27,261 15,262 40,585 4,337

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— tota l............................

Federal...................................................................

2,759

2,629

130

12,228

12,015

213

40.762

40.762

4,586

4,382

204

994

899

95

12.627

12.627

11.554

11.554

5.889

5.889

14,470

13,748

722

1.411

1.411

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.........

4,774 17,779 60,605 6,296 2,229 18,143 15,708 9,373 26,115 2,926

1,588

2

1,586

6,466

1

6,465

23,819

3

23,816

1,931

6

1,925

907

78

829

6,963

43

6,920

5.146

5.146

2,868

2

2 ,8 6 6

7,038

97

6,941

674

6

667

3,185 11,312 36,786 4,366 1,323 11,180 10,562 6,505 19,078 2,252

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

55

3,082

46

7,607

7

99

11

543

23

1 ,0 0 2

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

2 1 0 469

62

1 ,1 2 2

65 667

25

960

414

551

787

130 130

On loans................................................................. 303 305 132 285 213

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

606,430

115,392

236,540

31,957

217,608

4,933

2,632,806

682,151

760,206

164,026

988,770

37,653

9,668,459

3,007,947

2,542,342

508,449

3,440,809

168,912

796,208

178,386

272,000

40,050

297,964

7,808

318,696

47,308

90,775

27,454

149,536

3,623

2,654,316

600,397

867,206

171,360

977,648

37,705

2,397,584

513,312

679,216

223,086

948,864

33,106

1,156,884

253,877

467,736

68,743

353,800

12,728

3,823,742

748,673

1,550,094

282,274

1,208,067

34,634

340,812

86,763

134,653

17,927

98,725

2,744

606,430

563,000

1*27,832

135,168

3,089

40,341

2,632,806

2,429,011

1,799,628

629,383

26,944

176,851

9,668,459

8,987,057

7,862,271*

1,121*,783

67,640

613,762

796,208

740,937

1*93,1*99

21*7,1*38

7,087

48,184

318,696

285,182

113,086

172,096

2,353

31,161

2,654,316

2,431,146

1,592,682

838,1*61*

25,792

197,378

2,397,584

2,218,816

1,591,139

627,677

22,636

156,132

1,156,884

1,047,226

71*1*, 91*5

302,281

7,675

101,983

3,823,742

3,561,848

2,151*, 651

1,1*07,197

16,867

245,027

340,812

317,300

21*5,1*35

71,865

2,091

21,421

Number of active officers, December 3 1 ...........

Number of other employees, December 31....

677

1,295

1,603

5,495

5,192

17,455

382

1,780

247

767

1,731

6,180

1,218

6,203

697

2,206

2,236

7,112

244

623

Number of banks, December 31.......................... 170 290 8 8 6 54 64 316 104 179 548 53

Note: Due to rounding differences, data 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*6-1953: See the Annual Report for 1953, pp. 118-127, and earlier reports. t—i

EARNINGS, EXPENSES. AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 116. In co m e, E x p e n se s, an d D iv id e n d s o f In s u r e d M u t u a l S a v in g s B a n k s, 1951-1954

(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— tota l.....................................................................................................................

Salaries— officers.......................................................................................................................................................

Salaries and wages— employees.............................................................................................................................

Pension, hospitalization and group insurance payments, and other employee benefits.........................

Fees paid to trustees and committee members................................................................................................

Occupancy, maintenance, etc. of bank premises (including taxes and recurring depreciation)— net.

Occupancy, maintenance, etc. of bank premises {including taxes and recurring depreciation)— gross. ,

Less: Income from bank building.......................................................................................................................

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

Furniture and fixtures (including recurring depreciation)............................................................................

All other current operating expense.....................................................................................................................

Net current operating income.............................................................................................................................

Franchise and income taxes— tota l.

State franchise and income taxes. . . .

Federal income taxes.............................

Net current operating income after taxes.

Dividends and interest on deposits.............

Net current operating income after taxes and dividends.................................................................................................................

Non-recurring income, realized profits and recoveries credited to profit and loss, and transfers from valuation

adjustment provisions— tota l................................................................................................................................................................

Non-recurring income........................................................................................................................................................................................

Realized profits and recoveries on:

Securities sold or matured............................................................................................................................................................................

Real estate mortgage loans..........................................................................................................................................................................

Other real estate.............................................................................................................................................................................................

All other assets................................................................................................................................................................................................

Transfers from valuation adjustment provisions1 on:

Securities

Real estate mortgage loans.

Other real estate....................

All other assets.......................

1951

513,817

171,169

49,630

279,405

291,790

6.051

6,334

3,878

163

699

536

5.052

4,520

106,654

18,030

37,707

8,939

1,872

11,589

18,248

6,659

5,907

2,280

20,330

407,163

6.094

6.094

401,069

282,235

118,834

128,790

21,045

8,567

484

300

2,843

11,968

80,676

373

2,534

1952

568,498

163,879

62,958

326,785

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

6,962

2,227

442,546

365,481

77,065

57,917

14,893

5,243

155

216

240

12,223

24,692

111

144

1953

647,067

164,630

82,003

381,895

396,264

5,184

77

338

261

7,171

6,107

127,336

21,142

44,351

11,566

2,303

13,521

20,926

7,405

6,837

2,445

25,171

519,731

8,569

6,459

2,110

511,162

414,951

96,211

36,962

12,372

5,287

783

304

1,489

6,132

9,965

275

355

1954

721,323

155,869

96,205

447,022

461,769

11,922

2,825

6,642

86

292

206

7,746

7,753

139,931

22,870

48,074

12,623

2,526

15,019

22,495

7,476

7,562

2,755

28,502

581,392

10,643

7,231

3,412

570,749

466,119

104,630

59,228

12,334

23,914

389

219

943

10,858

8,450

126

1,995

tel

tel

W

tel

W

>DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Non-recurring expense, realized losses charged to profit and loss, and transfers to valuation adjustment provisions— total................................................................................................................................................................................................. 124,491

24,724

25,264

179

84,023

23,804

25,875

176

70,507

12,156

28,333

152

39

106

10,639

17,005

11

65,050

14,279

12,773

1 1 2

49

551

12,403

20,380

7

Non-recurring expense.......................................................................................................................................................................................

Realized losses on:

Securities sold..................................................................................................................................................................................................

Real estate mortgage loans..........................................................................................................................................................................

Other real estate.............................................................................................................................................................................................

All other assets................................................................................................................................................................................................

2 0

2 0 0

1 1 0

62

Transfers to valuation adjustment provisions1 on;

Securities...........................................................................................................................................................................................................

Real estate mortgage loans..........................................................................................................................................................................

Other real estate.............................................................................................................................................................................................

52,574

18,580

37

14,359

15,474

63

All other assets................................................................................................................................................................................................ 2,913 4,100 2,066 4,496

Net additions to total surplus accounts from operations................................................................................................................ 123,133 50,959 62,666 98,808

Memoranda

Recoveries credited to valuation adjustment provisions1 (not included in recoveries above) o n :

445 135 15 2 2 0

Real estate mortgage loans.............................................................................................................................................................................. 274 69 33 41

Other real estate................................................................................................................................................................................................. 1 10

All other assets.................................................................................................................................................................................................... 105 218 1 2

Realized losses charged to valuation adjustment provisions1 (not included in realized losses above) on :

9,175

255

14,581

882

12,523

469

7,527

Real estate mortgage loans.............................................................................................................................................................................. 166

Other real estate................................................................................................................................................................................................. 294 206 683 234

All other assets.................................................................................................................................................................................................... 108 616 89 45

Average assets and liabilities2

Assets— total.......................................................................................................................................................................................................... 16.694.810

662,190

7,292,576

1,662,971

6,764,780

79,331

3,386

229,576

16.694.810

15,000,933

14,982,411

18,522

80,463

1,613,414

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

19.625.429

744,369

6,620,535

2,591,176

9,288,364

102,768

2,432

275,785

19.625.429

17,718,957

17,688,777

30,180

119,359

1,787,113

21.872.622

874,215

6,755,391

3,015,662

10,802,477

120,350

2,957

301,570

21.872.622

19,738,300

19,694,981

43,319

159,912

1,974,410

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 3 1 ..........................................................................................................................................................

Number of other employees, December 31..........................................................................................

1,714

11,530

1,810

11,932

1,908

12,525

1,999

13,227

Number of banks, December 31.......................................................................................................................................................................... 2 0 2 206 219 218

1 Includes “ Valuation reserves” and “Other asset valuation provisions (direct write-downs)” .

* Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures, 1934-1950: Data for 1934-1950, which however are not comparable with figures for 1951-1954, may be found in the following Annual Reports: 1950, pp. 272-273»

and 1941, p. 173. w

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
05

to

T a b le 11 7 . R a t io s o f In co m e, E x p e n se s, and D iv id e n d s o f In s u r e d M u t u a l S a v in g s B a n k s, 1951-1954

Sources and disposition of income

Am ounts 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— tota l.....................................................................................................................

Salaries— officers.......................................................................................................................................................

Salaries and wages— employees.............................................................................................................................

Pension, hospitalization and group insurance payments, and other employee benefits.........................

Fees paid to trustees and committee members................................................................................................

Occupancy, maintenance, etc. of bank premises (including taxes and recurring depreciation)— net.

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

Furniture and fixtures (including recurring depreciation)............................................................................

All other current operating expense.....................................................................................................................

Net current operating income...........

Franchise and income taxes— total.

State franchise and income taxes. . . .

Federal income taxes.............................

Net current operating income after taxes..............................

Dividends and interest on deposits........................................... .

Net current operating income after taxes and dividends.

1951 1952 1953 1954

$100.00 $100.00 $100.00 $100.00

33.31 28.83 25.44 21.61

9.66 11.07 12.67 13.34

54.38 57.48 59.02 61.97

.75 .72 .80 .92

1 .0 2 1.04 1 .1 2 1.09

.8 8 .8 6 .95 1.07

20.76 20.54 19.68 19.40

3.51 3.39 3.27 3.17

7.34 7.21 6.85 6.67

1.74 1.87 1.79 1.75

.36 .37 .35 .35

2.26 2.14 2.09 2.08

1.15 1.09 1.06 1.05

.44 .42 .38 .38

3.96 4.05 3.89 3.95

79.24 79.46 80.32 80.60

1.18 1.62 1.32 1.47

1.18 1.23 1 .0 0 1 .0 0

.39 .32 .47

78.06 77.84 79.00 79.13

54.93 64.29 64.13 64.62

23.13 13.55 14.87 14.51

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

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.

Assets and liabilities per $100 of total assets1

Assets— to ta l..................................................................................

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

3.08 3.17 3.30 3.30

.64 .65 .65 .64

2.44 2.52 2.65 2 .6 6

.04 .05 .05 .05

2.40 2.47 2.60 2.61

1.69 2.04 2 .1 1 2.13

.71 .43 .49 .48

.77 .32 .19 .27

.74 .47 .36 .30

.74 .28 .32 .45

2.35 2.43 2.49 2.31

2.98 3.05 3.16 3.19

4.13 4.08 4.11 4.14

4.89 4.73 5.04 5.52

1 .8 8 2.27 2.35 2.37

7.63 2.98 3.51 5.00

1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0

3.97 4.07 3.79 4.00

43.68 37.73 33.74 30.88

9.96 11.53 13.20 13.79

40.52 44.75 47.33 49.39

.48 .48 .52 .55

.0 2 .0 1 .0 1 .0 1

1.37 1.43 1.41 1.38

1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0

89.85 89.93 90.28 90.24

89.74 89.80 90.13 90.04

.11 .18 .15 .20

.48 .52 .61 .73

9.67 9.55 9.11 9.03

2 0 2 206 219 218

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

3 Includes “Valuation reserves” and “ Other asset valuation provisions (direct write-downs)” .

Back figures, 1984 and 1941-1950: Data for 1934 and 1941-1950, which however are not comparable with figures for 1951-1954, may be found in the following Annual Reports:

1950, pp. 274-275, and 1947, pp. 156-157.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
D e p o s it I n s u r a n c e D is b u r s e m e n t s

Table 118.

Table 119.

Table 120.

Table 121.

Disbursements, deposits, and depositors in insured banks financially aided by the 

Federal Deposit Insurance Corporation, 1934-1954

Banks grouped by class of bank, year of receivership or deposit assumption, amount

of deposits, and State

Assets and liabilities of insured banks placed in receivership and insured banks of 

which deposits were assumed by another insured bank with the financial aid of the 

Federal Deposit Insurance Corporation, 1934-1954 

As shown by books of bank at date of closing

Name, location, Federal Deposit Insurance Corporation disbursement, and assets 

and liabilities at date of closing, insured banks of which deposits were assumed by 

another insured bank with the financial aid of the Corporation during 1954

Recoveries and losses by the Federal Deposit Insurance Corporation on potentially 

recoverable disbursements for protection of depositors in insured banks financially 

aided by the Corporation, 1934-1954 

As shown by books of FDIC, December 81, 1954

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Disbursements by the Federal Deposit Insurance Corporation

to protect depositors are made when insured banks in financial difficulties are placed in receivership, or when the deposits of a failing bank

are assumed by another insured bank with the financial aid of the Corporation. In receiverships the disbursement is the amount paid by the

Corporation on insured deposits. In deposit assumption cases the principal disbursement is the amount loaned to failing banks, or the price paid

for assets purchased from them; additional disbursements are made in

those cases as advances for protection of assets in process of liquidation

and for liquidation expenses.

Detailed data for insured banks placed in receivership are omitted

since no insured bank was placed in receivership from 1944 through 1954.

For such data see the Annual Reports of the Corporation for 1946, pages

167 and 171, and 1950, page 280.

Deposits as given in Table 118 are adjusted to the end of 1954, and

therefore differ from those at date of closing as given in Tables 119 and

120. Most of the difference is due to discovery of additional deposits not

on the books at date of closing.

Details of the deposit assumption cases during 1954 are given in

Table 120. The disbursements by the Corporation were made to purchase assets from the failing banks which were not acceptable for acquisition by the assuming banks.

Noninsured bank failures

Two noninsured banks failed in 1954. The name and location of these

banks and date of closing are given below:

Farmers and Merchants State Bank, Valley Center, Kansas, July 19,

1954, deposits $1,950,000.

Peoples Bank, Fort Valley, Georgia, November 18, 1954, amount of

deposits not available.

For suspensions of noninsured banks in previous years see the Annual

Reports of the Corporation as follows: 1943, p. 102; 1946, p. 167; 1947,

p. 159; 1949, p. 187; 1950, p. 277; 1951, p. 187; 1952, p. 139; and 1953,

p. 131.

Sources o f data

Insured banks: books of bank at date of closing; and books of FDIC,

December 31, 1954.

Noninsured banks: news reports.

05

Or DEPOSIT INSURANCE DISBURSEMENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY CLASS OF BANK, YEAR OF RECEIVERSHIP OR DEPOSIT ASSUMPTION, AMOUNT OF DEPOSITS, AND STATE h-i

Table 118. D is b u r s e m e n ts , D e p o s its , an d D e p o s ito r s in In s u r e d B a n k s F in a n c ia lly A id ed b y

t h e F e d e r a l D e p o s it In su r a n c e C o r p o r a tio n , 1934-1954

Classification

Disbursements by FDIC

(in thousands of dollars) Number of banks Deposits

(in thousands of dollars) 1 Number of depositors1

Total

Receiverships

Deposit assumption cases

Total

Receiverships

Deposit

assumption

cases

Total Receiverships

Deposit

assumption

cases

Total Receiverships

Deposit

assumption Principal2 cases®

Liquidation

expenses and

advances

All banks...................................... 328,295 87,044 194,978 46,273 424 245 179 559,938 109,590 450,348 1,392,799 382,722 1,010,077

Glass of bank

National banks......................... 58,904 14,808 38,075 6 ,0 2 1 73 2 1 52 112,548 19,474 93,074 290,349 55,406 234,943

State banks members F. R.

System.................................... 120,470 20,934 80,271 19,265 2 2 6 16 187,656 26,537 161,119 368,424 82,818 285,606

Banks not members F. R. S .. 148,921 51,302 76,632 20,987 329 218 1 1 1 259,734 63,579 196,155 734,026 244,498 489,528

Year

1934 941 941 9 9 1,968 1,968 15,767 15,767

1935............................................. 9,162 6,025 2,865 272 25 24 1 13,320 9,091 4,229 44,655 32,331 12,324

1936............................................. 15,715 8,056 6,725 934 69 42 27 27,508 11,241 16,267 89,018 43,225 45,793

1937............................................. 20,042 12,044 7,116 882 75 50 25 33,349 14,960 18,389 130,387 74,148 56,239

1938............................................. 35,381 9,092 21,387 4,902 74 50 24 59,684 10,296 49,388 203,961 44,288 159,673

1939............................................. 85,373 26,197 41,573 17,603 60 32 28 157,772 32,738 125,034 392,718 90,169 302,549

1940............................................. 91,363 4,895 69,239 17,229 43 19 24 142,430 5,657 136,773 256,361 20,667 235,694

1941............................................. 25,356 12,278 11,602 1,476 15 8 7 29,717 14,730 14,987 73,005 38,594 34,411

1942............................................. 11,901 1,612 9,213 1,076 2 0 6 14 19,185 1,816 17,369 60,688 5,717 54,971

1943............................................. 7,244 5,500 1,672 72 5 4 1 12,525 6,637 5,888 27,371 16,917 10,454

1944............................................. 1,540 404 1,099 37 2 1 1 1,915 456 1,459 5,487 899 4,588

1945 . . • 1,865 1,768 97 1 1 5,695 5,695 12,483 12,483

1946 ..... 276 265 11 1 1 347 347 1,383 1,383

1947 1,992 1,724 268 5 5 7,040 7,040 10,637 10,637

1948 3,188 2,990 198 3 3 10,674 10,674 18,540 18,540

1949 2,716 2,552 164 4 4 5,475 5,475 5,671 5,671

1950 4,394 3,986 408 4 4 5,502 5,502 6,365 6,365

1951 ..... 1,990 1,885 105 2 2 3,408 3,408 5,276 5,276

1952 ............... 1,539 1,369 170 3 3 3,171 3,171 6,752 6,752

1953 ......... 5,378 5,042 336 2 2 18,262 18,262 24,469 24,469

1954 ............... 939 906 33 2 2 991 991 1,805 1,805

Banks with deposits of—

$1 0 0 ,0 0 0 or less........................ 5,135 4,308 690 137 107 83 24- 6,420 4,947 1,473 38,348 29,695 8,653

$100,000 to $250,000.............. 13,056 11,554 1,352 150 109 8 6 23 17,759 13,920 3,839 83,370 65,512 17,858

$250,000 to $500,000.............. 15,171 10,223 4,365 583 59 36 20,976 12,462 8,514 89,949 56,777 33,172

$500,000 to $1 ,0 0 0 ,0 0 0 ........... 30,692 13,901 14,851 1,940 59 24 35 44,369 17,590 26,779 149,125 63,487 85,638

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 , 0 0 0 ___ 34,332 8,961 22,179 3,192 42 9 3S~ ■ 60,554 11,748 48,806 193,531 54,324 139,207

$2,000,000 to $5,000,000___ 52,281 12,421 34,392 5,468 29 5 24 88,333 16,279 72,054 225,188 51,756 173,432

$5 ,0 0 0 ,0 0 0 to $1 0 ,0 0 0 ,0 0 0 . 28 175 23,400 4,775 1 0 10 65,397 65,397 170,841 170,841

$1 0 ,0 0 0 ,0 0 0 to $25,000,000 . . 5M 85 ’ 25,676 20,096 5,313 5 2 3 96,712 32,644 64,068 170,119 61,171 108,948

$25,000,000 to $50,000,000. . 98,368 73,653 24,715 4 4 159,418 159,418 272,328 272,328

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
State

Alabama..................................... 1,170 94 995 81 3 1 2 2,286 1 0 1 2,185 7,906 794 7,112

Arkansas..................................... 1,025 841 144 40 6 5 1 1,764 1,168 596 4,433 3,529 904

999 861 138 1 1 1,078 1,078 3,169 3,169

8 8 1 1 8 ............... 8 1 0 1 0

1,242 1,242 2 2 1,526 1,526 5,379 5,379

Florida........................................ 313 203 97 13 2 1 1 491 217 274 1,642 448 1,194

Georgia....................................... 931 846 69 16 9 7 2 1,089 998 91 8,387 7,773 614

Illinois......................................... 9,943 1,242 8,008 693 18 6 1 2 27,321 1,637 25,684 43,291 5,372 37,919

Indiana....................................... 6,579 3,096 3,101 382 2 0 15 5 13,594 3,932 9,662 30,006 12,549 17,457

Iowa............................................ 1,569 385 1,071 113 6 3 3 5,516 498 5,018 13,665 1,676 11,989

Kansas........................................ 1,046 482 492 72 9 5 4 1,233 539 694 5,145 2,254 2,891

Kentucky................................... 5,554 3,329 2,119 106 23 18 5 8,880 3,954 4,926 36,132 18,490 17,642

6 6 8 6 6 8 3 3 1,652 1,652 6,087 6,087

Maryland................................... 3,480 735 2,374 371 5 2 3 4,566 828 .........3,’738* 22,567 6,643 15,924

2,594 1,564 1,030 2 2 3,019 3,019 9,046 9,046

Michigan.................................... 7,034 139 6,150 745 8 3 5 13,531 160 13,371 31,663 928 30,735

640 640 5 5 818 818 2,650 2,650

257 257 3 3 334 334 1,651 1,651

Missouri..................................... 5,058 4,335 646 77 46 34 12 7,149 5,116 2,033 34,929 26,760 8,169

Montana..................................... 660 186 453 2 1 5 3 2 1,095 215 880 1,500 849 651

Nebraska.................................... 469 469 4 4 538 538 2,224 2,224

New Hampshire....................... 125 118 7 1 1 296 296 1,780 1,780

New Jersey................................ 100,913 ' 25,103 55,657 20,153 38 1 1 27 192,417 30,915 161,502 520,380 '101,614 418,766

New York.................................. 78,124 10,835 56,499 10,790 25 3 2 2 138,811 13,286 125,525 259,889 28,440 231,449

North Carolina......................... 2,568 1,156 1,231 181 • 7 J . Ja. 3,266 1,421 1,845 10,408 3,677 6,731

North Dakota........................... 2,859 1,397 1,259 203 29 18 1 1 3,830 1,552 2,278 14,103 6,760 7,343

Ohio............................................. 1,882 1,610 258 14 3 2 1 3,139 2,345 794 8,544 7,585 959

Oklahoma.................................. 2,547 1,133 1,311 103 8 5 3 4,371 1,659 2,712 10,795 5,874 4,921

Oregon........................................ 1,043 962 81 1 1 1,302 1,302 2,209 2,209

Pennsylvania............................. 60,688 ’ 10,133 41,159 9,396 29 8 2 1 75,746 14,340 61,406 166,893 43,828 123,065

South Carolina......................... 284 136 138 1 0 2 1 1 850 136 714 1,848 403 1,445

South Dakota........................... 2,421 2,388 24 9 23 2 2 1 2,988 2,862 126 12,515 11,412 1,103

Tennessee................................... 1,303 1,164 114 25 1 2 8 4 1,942 1,620 322 12,358 9,993 2,365

Texas........................................... 2,805 2,468 293 44 18 16 2 3,925 3,239 6 8 6 19,862 18,334 1,528

Vermont..................................... 3,467 3,259 186 2 2 3 2 1 3,725 3,375 350 11,057 8,687 2,370

Virginia....................................... 5,412 511 4,396 505 8 3 5 10,756 629 10,127 26,041 2,964 23,077

Washington............................... 1,447 935 512 1 1 1,536 1,536 4,179 4,179

West Virginia............................ 1,458 1,458 3 3 2,006 2,006 8,346 .........8*,346

Wisconsin................................... 7,489 5,096 2,092 301 31 2 0 11 9,511 5,966 .........3,545 26,898 18,739 .........8,159

Wyoming.................................... 2 2 1 2 0 2 19 1 1 2,033 2,033 3,212 3,212

1 Adjusted to December 31, 1954.

* Excludes excess collections turned over to banks as additional purchase price at termination of liquidation.

* Number of deposit accounts.

DEPOSIT INSURANCE DISBURSEMENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 1 9 . A s s e t s a n d L ia b i lit i e s op In s u r e d B a n k s P la c e d in R e c e iv e r sh ip an d In s u r e d B a n k s op w h ic h D e p o s its w e r e Assum ed

b y A n o t h e r In s u r e d B a n k w ith t h e F in a n c ia l A id o f th e F e d e r a l D e p o s it In s u r a n c e C o r p o r a tio n , 1934-1954

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 lo sin g

05

00

Year

Assets

Cash and

due from

banks

U. S. Government

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking

house,

furniture <fi

fixtures

Other

real

estate

Other Total

Liabilities and capital accounts

Total

deposits

Other

liabilities

R. F. C.

capital

Private

capital

stock

Other

capital

accounts1

Total $127,956,462 $90,481,363 $75,077,634

RECEIVERSHIP CASES2

Total

DEPOSIT ASSUMPTION CASES

Total

1935

1936

1937

1938

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

1949

1950

1951

1952

1953

1954

$22,620,382 |$10,154,078 $15,946,562

$105,336,080 $80,327,285 $59,131,072

404,834

3,109,830

4,717,074

8,133,887

27,451,442

30,227,874

3,167,243

4,159,617

1,216,987

368,633

2,440,786

126,764

2,769,014

6,864,201

2,616,025

1,548,158

886,937

552,710

4,485,650

88,414

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

8,326,289

141,600

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

660,548

2,000

$246,202,911

$65,569,217

$180,633,694

2,256,417

8,917,554

8,678,629

20,896,236

44,289,765

60,687,428

8.178.623

7,231,137

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

4,878,142

884,925

$22,711,505 $59,563,796

$5,375,616 $12,293,686

$17,335,889 $47,270,110

608,467

1,277,605

562,181

2,873,257

5,142,882

1,184,658

926,359

3,913,009

15,459,743

4,553,388

798,028

759,861

274,331

22,840,095

1,014,582

1,824,586

15,844

67,428

4,609

2,369

56,630

1 1 2 ,2 0 0

1

19,196

61,705

40,500

34,502

35,121

141,556

1,306

$14,037,966

$8,330,507

$5,707,459

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

319,032

19,431

$636,031,637

$140,290,048

$495,741,589

4,917,728

18,966,364

21,086,180

55,592,711

137,588,630

153,938,219

16,992,727

20,152,721

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

18,811,217

1,137,676

$556,559,655

$107,374,564

$449,185,091

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

18,262,055

990,283

$11,715,567 $25,180,114

$10,122,023 $5,896,246

$1,593,544 $19,283,868

140

19,769

262,651

168,674

679,659

310,000

609,200

3,726,463

6,103,500

157,766

57,508

584

7,186,655

289,000

913,400

96,000

5,959

200,915

8,659

8,908

22,339

13

15,000

9,650

25,000

$38,738,611

$12,254,299

$26,484,312

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

225.000

50,000

$3,837,690

$4,642,916

$ -805,226

373,772

685,333

21,006

-428,459

-614,475

1,196,087

544,201

295,391

382,882

-8,303

365,213

24,767

-365,504

-469,324

-255,074

-1,786,543

-451,846

-688,553

276,823

97,380

1 Includes surplus, undivided profits, and reserve funds minus deficit, if any, as shown by books. Minus (-) indicates net deficit.

2 No insured bank was placed in receivership from 1944 through 1954. For data by years see the Annual Report of the Corporation for 1950, p. 280.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 2 0 . N am e, L o c a tio n , F e d e r a l D e p o s it In su ra n c e C o r p o r a tio n D isb u r se m e n t, an d A s s e ts an d L ia b ilit ie s a t D a t e q e . . 

C lo s in g , In s u r e d B a n k s o f w h ich D e p o s its w e r e A ssum ed b y A n o t h e r In s u r e d B a n k

w ith t h e F in a n c ia l A id o f t h e C o r p o r a tio n D u r in g 1954

Case

number

Number of

accounts1

Disbursement

Name and location Class of bank Assuming bank

Date Amount

178 Bank of Ila,

Ila, Georgia

State bank not

member F. R. System

292 August 9, 1954 $50,170 The Citizens and Southern National

Bank, Savannah, Georgia

(Athens Branch)

179 Bank of Whitesville,

Whitesville, Kentucky

State bank not

member F. R. System

1,517 October 1, 1954 851,712 The Owensboro National Bank,

Owensboro, Kentucky

Case

number

Assets

Cash and

due from

banks

U. S. Government

obligations

Other

securities

Loans,

discounts,

and

overdrafts2

Banking

house,

furniture &

fixtures

Other

real

estate

Other

Total

Liabilities and capital accounts

Deposits Other

liabilities

R. F. C.

capital

Private

capital

stock

Other

capital

accounts

Total

178

179

$88,414

10,328

78,086

$141,600 $2,000

141,600 2,000

$884,925

85,947

798,978

$1,306

1,304

2

$19,431

1

19,430

$1,137,676

97,580

1,040,096

$990,283

60,487

929,796

$13

11

2

$50,000 $97,380

25,000 12,082

25,000 85,298

1 At date of closing.

2 Overdrafts included were $9,992 in case 178 and $487,934 in case 179.

O

CODEPOSIT INSURANCE DISBURSEM ENTS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 121. R e c o v e r ie 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 In s u r a n c e C o r p o r a tio n o n P o t e n t i a l l y R e c o v e r a b le

D is b u r s e m e n ts f o r P r o t e c t i o n o f D e p o s ito r s in In su r e d B a n k s F in a n c ia lly A id ed b y t h e C o r p o r a tio n , 1934-1954

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1954

(Amounts in thousands of dollars)

Liquidation

status and

year of

receivership

or

absorption

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

Status

Active.........

Terminated

Year

193 4 

193 5 

193 6 

193 7 

193 8 

193 9 

194 0 

194 1 

194 2 

194 3 

194 4 

194 5 

194 6 

194 7 

194 8 

194 9 

195 0 

195 1 

195 2 

195 3 

195 4 

Number

of

banks

424

35

389

9

25

69

75

74

60

43

15

20

5

2

1

1

5

3

4

4

2 

3

2 

2

All cases

FDIC

disbursement

328,295

134,601

193,694

941

9,162

15,715

20,042

35,381

85,373

91,363

25,356

11,901

7,244

1,540

1,865

276

1,992

3,188

2,716

4,394

1,990

1,539

5,378

939

Recoveries

to

December

31, 1954

299,410

124,444

174,966

734

6,423

13,245

16,490

32,956

78,200

87,123

24,691

11,212

7,120

1,500

1,865

276

1,709

2,547

2,325

2,864

1,892

642

5,265

331

Estimated

additional

recoveries

1.089

1.089

16

328

69

209

7

109

80

63

178

Losses1

27,796

9,068

18,728

207

2,716

2,463

3,552

2,425

7,157

3,912

596

689

124

40

74

641

384

1,421

98

817

50

430

Receivership cases

Number

of

banks

245

245

FDIC

disbursement

87,044

87,044

941

6,025

8,056

12,044

9,092

26,197

4,895

12,278

1,612

5,500

404

Recoveries

72,866

72,866

734

4,274

6,596

9,517

7,908

20,399

4,313

12,065

1,320

5,376

364

14,178

14,178

207

1,751

1,460

2,527

1,184

5,798

582

213

292

124

40

Deposit assumption cases

Number

of

banks

179

35

144

FDIC Disbursement2

Principal

194,978

108,031

86,947

2,865

6,725

7,116

21,387

41,573

69,239

11,602

9,213

1,672

1,099

1,768

265

1,724

2,990

2,552

3,986

1,885

1,369

5,042

906

Liquidation

expenses and

advances

46,273

26,570

19,703

272

934

882

4,902

17,603

17,229

1,476

1,076

72

37

97

11

268

198

164

408

105

170

Recoveries

to

December

31, 1954

226,544

124,444

102,100

2,149

6,649

6,973

25,048

57,801

82,810

12,626

9.892

1,744

1,136

1,865

276

1,709

2,547

2,325

2,864

1.892

642

5,265

331

Estimated

additional

recoveries

1.089

1.089

16

328

69

209

7

109

80

63

178

13,618

9,068

4,550

965

1,003

1,025

1,241

1,359

3,330

383

397

74

641

384

1,421

98

817

50

430

O

i Includes estimated losses in active cases. Not adjusted for interest or allowable return, which was collected in some cases in which the disbursement was fully recovered,

a Excludes excess collections turned over to banks as additional purchase price at termination of liquidations.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
I n d e x

Absorptions:

Applications to permit................................................................................................... 7-8

Of insured banks with financial aid of the Corporation. See Banks in

financial difficulties.

Of operating banks, 1954........................................................................................6, 108-109

Admission of banks to insurance:

Applications for................................................................................................................ 6-8

Number of banks admitted, by class of bank, 1954........................................... 108-109

Areas outside continental United States, banks and branches located in:

Assets and liabilities, December 31, 1954...............................................................126-127

Deposits, December 31, 1954...................................................................118-119, 126-127

Earnings, expenses, profits, and dividends, 1954................................................. 150-151

Number, December 31, 1954.................................................................. 110, 117, 118-119

American Institute of Banking......................................................................................... 15

Applications from banks...................................................................................................... 6-8

Assessments for deposit insurance. See Federal Deposit Insurance Corporation.

Assets and liabilities of closed banks. See Banks in financial difficulties.

Assets, liabilities, and capital of operating banks (see also Deposits):

All banks:

Amount and changes in, by type, 1954............................................................ 31-36

Amount and changes in, 1947-1954................................................................... 36-40

By FDIC district and State, December 31, 1954......................................... 126-127

In banks grouped according to insurance status and type of bank,

June 30 and December 31, 1954................................................................... 122-125

Percentage changes, half-years and years, 1947-1954................................. 35-36

Percentage distribution, December 31, 1954...............................................34, 38-40

Commercial banks, June 30 and December 31, 1954......................................... 122-125

Insured banks, December 31, 1953, June 30 and December 31, 1954..........128-131

Insured commercial banks:

Amount and changes in, 1947-1954................................................................... 40-44

Amount, by size of bank, June 30, 1954.......................................................... 132-135

Amount, December 31, 1953, June 30 and December 31, 1954...........

................................................................................................40-41, 122-125, 128-131

Average for year, 1946-1954................................................................................ 139

Average for year, 1954, by class, size of bank, or State

..........................................................................143, 147, 151, 153, 155, 157, 159

Distributions of banks by individual asset and liability ratios........... 75-84

Percentage distributions, average for year, 1946-1954................................ 141

Percentage distributions, average for year, 1954, by class or size of

bank............................................................................................................. ...1 4 5 , 149

Percentage distributions of totals among size groups of banks, June

30, 1954................................................................................................................ 61-67

Percentage distributions, December 31, 1953, June 30 and December

31, 1954............................................................................................................... 41, 129

Percentage distributions, December 31, 1954, comparison with mutual

savings banks............................; ...................................................................... 46-47

Percentage distributions within size groups of banks, June 30, 19 54 ... 68-74

Insured mutual savings banks:

Amount, December 31, 1953, June 30 and December 31, 1954. .45-46, 128-131

Comparison percentage distributions with commercial banks, 1 9 5 4 .... 46-47

Major categories, average for 1951-1954......................................................... 161

Percentage distributions......................................................... ...............................45, 163

Page

173

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

Assets, liabilities, and capital of operating banks (see also Deposits):

(continued)

Mutual savings banks, June 30 and December 31, 1954...................................122-125

Noninsured banks, June 30 and December 31, 1954.......................................... 122-125

Sources of data........................................................................................................... 12-13, 121

State legislation................................................................................................................ 102

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

..............................................................................................................16-17, 22-23, 25

Assets pledged to secure bank obligations..................................................................... 131

Assets purchased by the Federal Deposit Insurance Corporation from banks

in financial difficulties. See Banks in financial difficulties.

Assumption of deposits of insured banks with financial aid of the Corporation.

See Banks in financial difficulties.

Audits of the Federal Deposit Insurance Corporation............................................. 23-26

Bad-debt reserves. See Valuation reserves.

Bank supervision. See Supervision of banks; Examination of insured banks.

Banking offices, number of. See Number of operating banks and branches.

Banking practices. See Unsafe and unsound banking practices.

Banks, applications from, acted on by the Federal Deposit Insurance

Corporation.......................................................................................................... 6-8

Banks in financial difficulties:

Assumption of deposits of insured banks with financial aid of the

Corporation:

Assets and liabilities at date of deposit assumption, by years, 1934-

1954............. .......................................................................................................... 168

Assets and liabilities of 1954 cases..................................................................... 169

Deposits protected......................................................................................... 3-6, 166-169

Disbursements by the Corporation...................................3-6, 166-167, 169-170

Loans made and assets purchased by Corporation.................3-6, 16-17, 23, 25

Losses incurred by Corporation......................................................... 4-5, 20, 24, 170

Name and location of banks, 1954..................................................................... 169

Number of banks.........................................................................3-5, 166-167, 169-170

Number of deposit accounts................................................................. 6, 166-167, 169

Recoveries by the Corporation on assets acquired......................................4-5, 170

Receivership, insured banks placed in:

Assets and liabilities of, at dates of suspension, 1934-1954....................... 168

Deposits, 1934-1954...................................................................................... 3-4, 166-168

Disbursements by the Corporation................................................3-6, 166-167, 170

Losses by the Corporation on disbursements................................................4-5, 170

Number of banks..................#.............. ..............................................3, 5, 166-167, 170

Recoveries by the Corporation on disbursements........................................4-5, 170

Sources of data................................................................................................................. 165

Suspensions of noninsured banks, 1954..................................................................108, 165

Banks, number of. See Number of operating banks and branches.

Banks operating branches. See Number of operating banks and branches.

Board of Directors of the Federal Deposit Insurance Corporation. See Federal

Deposit Insurance Corporation.

Board of Governors of the Federal Reserve System...........................................7, 121, 137

Borrowing power. See Federal Deposit Insurance Corporation,

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 175

Page

Branches (See also Number of operating banks and branches):

Establishment approved by Federal Deposit Insurance Corporation,

1954........................................................................................................................ 7-8

Increase, insured banks, 1946-1954............................................................................ 29-31

Legislation, State............................................................................................................ 102

Business and personal deposits. See Deposits (items referring to type of

account).

Call reports. See Assets, liabilities, and capital of operating banks; Reports

from banks.

Capital of banks. See Assets, liabilities, and capital of operating banks;

Banks in financial difficulties; Earnings and expenses of insured

commercial banks; Earnings and expenses of insured mutual savings

banks.

Charge-offs by banks. See Earnings and expenses of insured mutual savings

banks; Earnings and expenses of insured commercial banks;

Valuation reserves.

Class of bank, banking data presented by:

Admissions to and terminations of insurance........................................................108-109

Assets and liabilities of operating banks.................................................................122-125

Banks absorbed with financial aid of the Corporation, 1954........................... 169

Deposits......................................................................................................... 118-119, 123, 125

Earnings of insured commercial banks, 1954........................................................ 142-145

Insured banks financially aided by the Corporation, 1934-1954.................... 166

Number of banks and banking offices, 1954..........................................................108-117

Ratios of earnings of insured commercial banks, 1954...................................... 144-145

Classification of banks..........................................................................................................106-107

Closed banks. See Banks in financial difficulties.

Commercial banks. See Assets, liabilities, and capital of operating banks;

Deposits; Earnings and expenses of insured commercial banks;

Number of operating banks and branches.

Comptroller General of the United States................................ ................................... 23

Comptroller of the Currency......................................................iv-v, 8-9, 13-14, 121, 137

Consolidations. See Absorptions.

Coverage of deposit insurance, banks participating.................................... 3, 31, 108-119

Credit, bank. See Assets, liabilities, and capital of operating banks.

Demand deposits. See Assets, liabilities, and capital of operating banks;

Deposits (items referring to type of account).

Deposit insurance fund..............................................................................................17-20, 22-26

Deposits:

All banks:

By insurance status of bank and type of account, December 31, 1954.. 125

By insurance status of bank and type of account, June 30, 1954___ 123

By type of account in each State and FDIC district, December 31,

1954........................................................................................................................ 126-127

By type of bank and insurance status, December 31, 1954...................... 31

By type of bank in each State and FDIC district, December 31, 1954.. 118-119

Developments in 1954............................................................................................ 35-36

Growth rates, 1947-1954............................................................................. 35-36, 39-40

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

Deposits: (continued)

All insured banks:

By type of account, December 31, 1954.......................................................... 125

By type of account, December 31, 1953, June 30 and December 31,

1954......................................................................................................................... 130

By type of account, June 30, 1954..................................................................... 123

Ratios of deposit insurance fund to ................................................................... 18-19

Commercial banks:

By FDIC district and State, December 31, 1954......................................... 118-119

By type of account, December 31, 1954.......................................................... 125

By type of account, June 30, 1954..................................................................... 123

Definition, under Federal Deposit Insurance A ct................................................ 92-93

Insured banks placed in receivership or of which deposits were assumed

with financial aid of the Corporation. See Banks in financial

difficulties.

Insured commercial banks:

Amount, by size of bank, June 30, 1954.......................................................... 134-135

Amount, by type of account, December 31, 1953, June 30 and

December 31, 1954. . . . . . ........................................................................40-41, 130

Distributions of banks by individual deposit ratios..................................... 80-83

Percentage distributions of totals among size groups of banks, June

30, 1954................................................................................................................ 65-67

Percentage distributions within size groups of banks, June 30, 1954.. 73-74

Insured mutual savings banks:

By FDIC district and State, December 31, 1954......................................... 118-119

By type of account, December 31, 1953, June 30 and December 31,

1954...................................................................................................................45-46, 130

Interest and dividends on...............................................................49-50, 55-57, 138-163

Mutual Savings banks:

By FDIC district and State, December 31, 1954......................................... 118-119

By type of account, December 31, 1954........................................................... 125

By type of account, June 30, 1954..................................................................... 123

Noninsured banks:

By FDIC district and State, December 31, 1954......................................... 118-119

By type of account and type of bank, December 31, 1954....................... 125

By type of account and type of bank, June 30, 1954.................................. 123

Sources of data................................................................................................................. 121

State legislation................................................................................................................ 102

Directors of the Federal Deposit Insurance Corporation. See Federal Deposit

Insurance Corporation.

Disbursements. See Banks in financial difficulties.

Distributions of insured commercial banks by individual asset and liability

ratios...................................................................................................................... 75-84

Dividends:

To depositors in insured mutual savings banks................................. 55-57, 160, 162

To stockholders of operating insured commercial banks. See Earnings

and expenses of insured commercial banks.

Earnings and expenses of insured commercial banks:

Amounts of principal components:

Annually, 1946-1954............................................................................................... 138-139

By class of bank, 1954............................................................................................142-143

By size of bank, 1954..............................................................................................146-147

By State, 1954........................................................................................................... 150-159

Charge-offs, recoveries, and changes in valuation reserves............................... 52

Income, sources and disposition of total, 1947-1954.......................................... 48-52

Rate of income on assets........................................ 48-50, 140-141, 144-145, 148-149

Rate of net profit on total capital accounts, by State, 1954............................ 53

Ratios of earnings items:

Annually, 1947-1954........................................................................................50, 140-141

By class of bank, 1954............................................................................................ 144-145

By size of bank, 1954..............................................................................................148-149

Sources of data................................................................................................................. 137

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 177

Page

Earnings and expenses of insured mutual savings banks:

Amounts of principal components, 1951-1954......................................................160-161

Income, sources and disposition of total, 1953-1954. . ...................................... 54-57

Rates of income on assets.......................................................................................55-56, 163

Ratios of earnings items............................................................................................... 162-163

Sources of data................................................................................................................. 137

Educational program for bank examiners. See Federal Deposit Insurance

Corporation.

Emblem containing official advertising statement..................................................... 96

Employees:

Federal Deposit Insurance Corporation...............................................................14-16, 26

Insured commercial banks:

Number and compensation, 1946-1954.................................................... 51, 138-139

Number and compensation, by class of bank, by size of bank, and

by State, 1954..............................................................142-143, 146-147, 150-159

Insured mutual savings banks, number and compensation, 1951-1954

...................................................................................................................56-57, 160-161

Examination of insured banks:

Banks examined by the Federal Deposit Insurance Corporation, 1 9 5 4 ... 8-9

Examination staff.......................................................................................................vi, 14-16

Expenses of banks. See Earnings and expenses of insured commercial banks;

Earnings and expenses of insured mutual savings banks.

Expenses of the Corporation. See Federal Deposit Insurance Corporation,

income and expenses.

Failures. See Banks in financial difficulties.

Federal bank supervisory authorities......................................................................6-10, 12-13

Federal Deposit Insurance Act............................................................................18, 20-21, 26

Federal Deposit Insurance Corporation:

Assessments on insured banks..................................................................17, 20-26, 87-92

Assets and liabilities.....................................................................................16-17, 22-23, 25

Audit.................................................................................................................................... 23-26

Banks examined by, and submitting reports to ................ ............................ 8-9, 12-13

Board of Directors, actions on applications and banking practices.............. 6-12

Borrowing power............................................................................................................. 18, 26

Capital stock.................................................................................... ............................ 16-17, 22

Charity program.............................................................................................................. 15

Confidential and privileged records.......................................................................... 93-96

Deposit insurance fund (surplus)....................................................................17-20, 23-26

Directors (members of the Board)............................................................................iv-v, 14

Disbursements for protection of depositors. See Banks in financial difficulties.

Districts.............................................................................................................................. vi-vii

Divisions................................................................................................................. iv, 14, 98-100

Educational program for bank examiners............................................................... 15-16

Employees.......................................................................................................................... 14-16

Examination of banks. See Examination of insured banks.

Expenses. See Income and expenses.

Financial statements.................................................................................................. 17, 19-26

Income and expenses................................................................................... 18-21, 23-24, 26

Insured banks receiving financial aid from. See Banks in financial difficulties.

Liabilities................................................................................................................16-17, 23, 25

Loans to and purchase of assets from insured banks. See Banks in financial

difficulties.

Losses incurred, 1934-1954. See Banks in financial difficulties.

Methods of protecting depositors. See Banks in financial difficulties.

Organization and staff..................................................................... iv-vi, 14-16, 97-101

Payments to insured depositors. See Banks in financial difficulties.

Protection of depositors. See Banks in financial difficulties.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

Federal Deposit Insurance Corporation: (continued)

Recoveries. See Banks in financial difficulties.

Reports from banks........................................................................................................ 12-13

Reserve for losses on assets acquired....................................................................16-17, 25

Retirement of capital stock of the Corporation................................................16-17, 22

Rules and regulations.................................................................................................13, 87-96

Supervisory activities..................................................................................................... 6-13

Federal Deposit Insurance Corporation districts, banking data classified by:

Assets and liabilities of all banks, December 31, 1954....................................... 126

Number and deposits of banks, by type of bank, December 31, 1954 118

Federal Reserve System. See Board of Governors of the Federal Reserve

System.

Frequency distributions of insured commercial banks by individual asset

and liability ratios............................................................................................. 75-84

General Accounting Office.................................................................................................. 24

Government deposits. See Deposits (items referring to type of account).

Income of insured banks. See Earnings and expenses of insured commercial

banks; Earnings and expenses of insured mutual savings banks

Income of the Federal Deposit Insurance Corporation. See Federal Deposit

Insurance Corporation.

Insolvent banks. See Banks in financial difficulties.

Insurance status, banks classified by:

Assets and liabilities, June 30 and December 31, 1954.................. 122-125, 128-131

Changes in number, 1954.............................................................................................108-109

Deposits, June 30 and December 31, 1954........................................ 118-119, 123, 125

Number, December 31, 1954.......................................................................................110-119

Percentage of banks insured, by State, December 31, 1954.................... 32, 110-117

Insured banks. See Assets, liabilities, and capital of operating banks; Banks

in financial difficulties; Deposits; Earnings and expenses of insured

commercial banks; Earnings and expenses of insured mutual savings

banks; Number of operating banks and branches.

Insured commercial banks not members of the Federal Reserve System. See

Class of bank, banking data presented by.

Insured deposits. See Banks in financial difficulties.

Insured State banks members of the Federal Reserve System. See Class of

bank, banking data presented by.

Interbank deposits. See Deposits (items referring to type of account).

Interest. See Earnings and expenses of insured commercial banks; Earnings

and expenses of insured mutual savings banks.

Investments. See Assets, liabilities, and capital of operating banks; Assets

and liabilities of the Federal Deposit Insurance Corporation;

Banks in financial difficulties.

Law, violations of by insured banks. See Unsafe and unsound banking practices.

Legislation relating to deposit insurance and banking:

Federal, enacted in 1954............................................................................................... 13, 87

State, enacted in 1954............................................................................................13, 101-103

Loans. See Assets, liabilities, and capital of operating banks; Banks in financial

difficulties.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 179

Page

Losses:

Of banks, charged off. See Earnings and expenses of insured commercial

banks; Earnings and expenses of insured mutual savings banks.

Of the Federal Deposit Insurance Corporation. See Federal Deposit Insurance Corporation; Banks in financial difficulties.

Provision for, in banks.......................................................................................... 52, 137-163

Mergers. See Absorptions.

Methods of tabulating banking data:

Assets and liabilities of operating banks................................................................. 121

Deposit insurance disbursements............................................................................... 165

Earnings, expenses, and dividends of insured banks........................................... 137

Number, offices, and deposits of operating banks............................................... 106-107

Mutual savings banks. See Assets, liabilities, and capital of operating banks;

Deposits; Earnings and expenses of insured mutual savings banks;

Number of operating banks and branches.

National banks. See Class of bank, banking data presented by.

Net assessment income credits. See Federal Deposit Insurance Corporation,

Assessments on insured banks.

Net earnings of insured commercial banks. See Earnings and expenses of

insured commercial banks.

Net profits of insured commercial banks. See Earnings and expenses of

insured commercial banks.

New banks. See Number of operating banks and branches.

Noninsured banks. See Absorptions; Admission of banks to insurance; Assets,

liabilities, and capital of operating banks; Class of bank, banking

data presented by; Deposits; Number of operating banks and

branches.

Number of operating banks and branches:

Banking offices (banks and branches):

By insurance status, type of bank, and State, December 31, 1954........110-117

By State, 1946, 1954........................................................................................ 30

Changes during 1946-1954............................................................................ 3, 29-30

Banks:

By insurance status and type of bank, December 31, 1954.............31, 108, 125

By insurance status and type of bank, June 30, December 31, 1954.. 31, 123

By insurance status, type of bank, and State, December 31, 1954.. .110-117

By insurance status, type of bank, FDIC district and State, December

31, 1954......................................................................... .............................. 118-119

By State, 1946, 1954......................................................... ............................... 30

Changes during 1954, by insurance status and type of bank................... 108

Banks operating branches, by insurance status and State, December

31, 1954........................................................................................................ 110-117

Branches:

By insurance status, type of bank, and State, December 31, 1954........110-117

By State, 1946, 1954........................................................................................ 30

Changes during 1954, by insurance status and type of bank................... 108

Insured banks, December 31, 1953, June 30 and December 31, 1954......... 131

Insured commercial banks:

June 30, 1954, by size of bank.......................................................... 62, 76-80, 82-83

December 31, 1946-1954................................................................................. 139

December 31, 1954, by class, and operating throughout the year........... 143

December 31, 1954, by size of bank.................................................................. 147

Mutual savings banks, December 31, 1954....................................................... 31

Trust companies, December 31, 1954................................................................. 31

Unit banks, by insurance status and State, December 31, 1954...............110-117

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

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

Page

Obligations of banks. See Assets, liabilities, and capital of operating banks;

Deposits.

Officers of the Federal Deposit Insurance Corporation...........................................v-vi, 14

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.

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).

Receivership, insured banks placed in. See Banks in financial difficulties.

Recoveries:

By banks on assets charged off. See Earnings and expenses of insured commercial banks; Earnings and expenses of insured mutual savings

banks.

By the Corporation on disbursements. See Banks in financial difficulties.

Reports from banks.............................................................................................................. 12-13

Reserves:

Of Federal Deposit Insurance Corporation, for losses on assets acquired. 16-17, 25

Of insured banks for losses on assets. See Valuation reserves.

With Federal Reserve banks. See Assets, liabilities, and capital of operating

banks.

Salaries and wages:

Federal Deposit Insurance Corporation.................................................................. 21, 26

Insured banks. See Earnings and expenses of insured commercial banks;

Earnings and expenses of insured mutual savings banks.

Savings and time deposits. See Deposits (items referring to type of account).

Securities. See Assets, liabilities, and capital of operating banks; Assets and

liabilities of the Federal Deposit Insurance Corporation; Banks in

financial difficulties.

Size of banks, data for banks classified by amount of deposits:

Assets and liabilities, insured commercial banks, June 30, 1954................132-135

Assets and liabilities, insured commercial banks operating throughout

1954....................................................................................................................... 147, 149

Banks receiving financial aid from the Corporation, 1934-1954.................... 166

Disbursements for protection of depositors, 1934-1954..................................... 166

Distributions of insured commercial banks by individual asset and

liability ratios..................................................................................................... 75-84

Earnings data of insured commercial banks, 1954.............................................. 146-147

Earnings ratios of insured commercial banks, 1954............................................ 148-149

Number of employees of insured commercial banks operating throughout

1954......................................................................................................................... 147

Number of insured commercial banks operating throughout 1954...............147, 149

Percentage distributions of assets and liabilities among size groups,

insured commercial banks, June 30, 1954................................................. 61-67

Percentage distributions of assets and liabilities within size groups, insured commercial banks, June 30, 1954..................................................... 68-74

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
INDEX 181

State bank supervisory authorities:

Data obtained from........................................................................................................13, 121

State legislation regarding............................................................................................ 101

State, banking data classified by:

Assets and liabilities of operating banks, December 31, 1954.........................126-127

Deposits of operating banks, December 31, 1954................................................118-119

Disbursements, deposits, and depositors in insured banks financially aided

by the Corporation, 1934-1954..................................................................... 167

Earnings and expenses of insured commercial banks, 1954..............................150-159

Net profits after taxes as a proportion of total capital accounts, 1954. . . . 53

Number of operating banks and branches, December 31, 1954, by class of

bank and type of office....................................................................................110-117

Number of operating banks, December 31, 1954, by class...............................118-119

Proportion of banks insured, December 31, 1954........................................32, 110-117

State banking legislation enacted in 1954............................................................ 13, 101-103

State banks members of the Federal Reserve System. See Class of bank,

banking data presented by.

State banks not members of the Federal Reserve System. See Class of bank,

banking data presented by.

Stockholders of banks:

Net profits available for. See Earnings and expenses of insured commercial

banks.

State legislation................................................................................................................ 102

Summary of this report....................................................................................................... xvii

Supervision of banks (see also Examination of insured banks):

By the Federal Deposit Insurance Corporation...................................................vi, 6-13

State legislation, 1954.................................................................................................... 101

Suspensions. See Banks in financial difficulties.

Taxes paid by insured banks. See Earnings and expenses of insured commercial

banks; Earnings and expenses of insured mutual savings banks.

State legislation............................................................................................................... 103

Terminations of insurance for unsafe and unsound practices................................ 9-12

Time and savings deposits. See Deposits (items referring to type of account).

Trust companies:

Classification o f................................................................................................................106-107

Noninsured, not engaged in deposit banking................................................ 31, 108-117

State legislation............................................................................................................... 103

Trust powers:

Applications for................................................................................................................ 8

State legislation................................................................................................................ 103

Unit banks. See Number of operating banks and branches.

United States Department of Labor............................................................................... 15

Unsafe and unsound banking practices.......................................................................... 9-12

Valuation reserves (see also Assets, liabilities, and capital of operating banks):

Amounts held, December 31, 1954.................................................................. 52, 124, 129

Changes in, 1953......................................................................................................52, 138-163

Violations of law or regulations, banks charged with. See Unsafe and unsound

banking practices.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis