ANNUAL REPORT

OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

FOR THE YEAR ENDED

DECEMBER 31,1949

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Federal Reserve Bank of St. Louis
LETTER OF TRANSM ITTAL

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

Washington, D. COctober 17, 1950

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

Deposit Insurance Act, the Federal Deposit Insurance Corporation 

has the honor to submit its annual report.

Respectfully,

M a p l e T . H a r l , Chairman

T h e P r e s id e n t P r o T e m p o r e o f t h e S e n a t e

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

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

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

BOARD OF DIRECTORS

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

(H . E. Cook

Directors..............................................................................<

( P r e s t o n D e l a n o

OFFICIALS—OCTOBER 17, 1950

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

Deputy to Chairman...............................................................Lyle L. Robertson

Assistant to Director...............................................................Albert G. Towers

Associate General Counsel......................................................Norris C. Bakke

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

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

Director of Personnel..............................................................Randolph Hughes

Chief, Service Division...........................................................Henry T. Ivey

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

Fiscal Agent............................................................................Walter F. Oakes

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

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Federal Reserve Bank of St. Louis
DISTRICT OFFICES

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

No. E x a m in e r

1. Lundie W. Barlow

2. Neil G. Greensides

3. A. F. Shafer

4. Robert N. McLeod

5. John E. Freeman

6. W. Clyde Roberts

7. Raby L. Hopkins

8. Eugene R. Gover

9. Charles F. Alden

10. Gerhard F. Roetzel

11. Linton J. Davis

A d d ress

Room 1365, No. 10 Post 

Square, Boston 9, Mass.

Room 1900, 14 Wall Street, 

New York 5, N. Y.

City National Bank 

Building, 20 East Broad 

Street, Columbus 15, Ohio

200 Bank of Virginia 

Building, Fourth and 

Grace Streets,

Richmond 19, Va.

625 First National Bank 

Building, Atlanta 3, Ga.

S t a t e s in d istr ic t

Maine, New Hampshire, 

Vermont, Massachusetts, 

Rhode Island, Connecticut

New York, New Jersey, 

Delaware, Puerto Rico, 

Virgin Islands

Ohio, Pennsylvania

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

South Carolina

Georgia, Florida, Alabama, 

Mississippi

1059 Arcade Building, Kentucky, Tennessee,

St. Louis 1, Mo. Missouri, Arkansas

715 Tenney Building, Indiana, Michigan,

Madison 3, Wis. Wisconsin

741 Federal Reserve Bank Illinois, Iowa 

Building, 164 W. Jackson 

Blvd., Chicago 4, 111.

1200 Minnesota Building, 

St. Paul 1, Minn.

901 Federal Reserve Bank 

Building, Kansas City 6, 

Missouri

Federal Reserve Bank 

Building, Station K, 

Dallas 13, Tex.

Minnesota, North Dakota, 

South Dakota, Montana

Nebraska, Kansas, 

Oklahoma, Colorado, 

Wyoming

Louisiana, Texas,

New Mexico, Arizona

12. William P. Funsten Suite 1120, 315 Mont- Idaho, Utah, Nevada,

gomery Street, San Washington, Oregon, CaliFrancisco 4, Calif. fornia, Alaska, Hawaii

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V ll

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Federal Reserve Bank of St. Louis
CONTENTS

Page

Summary......... ... xix

PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

Deposit insurance protection.................................................................................. 3

Supervisory activities.............................................................................................. 10

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

Organization and financial statements of the Corporation.................................. 16

PART TWO 

BANKING DEVELOPMENTS

Banks and branches................................................................................................. 27

Assets, deposits, and capital accounts................................................................... 29

Earnings of insured commercial banks.................................................................. 39

Mutual savings banks............................................................................................. 49

PART THREE 

DEPOSIT ACCOUNTS AND INSURANCE COVERAGE

Special calls for deposit information...................................................................... 57

Accounts and insured deposits in all insured banks............................................. 59

Insurance protection under coverages for each account of $5,000, $10,000,

and $25,000, all insured banks............................................................................ 72

Detailed tables: insured commercial banks and insured savings banks.............. 80

Instructions and form.............................................................................................. 110

PART FOUR 

LEGISLATION

State banking legislation......................................................................................... 117

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Number, offices, and deposits of operating banks................................................ ......124

Assets and liabilities of operating banks......................................................................138

Examiners’ evaluation of insured commercial banks..................................................150

Earnings, expenses, and dividends of insured banks............................................ ......158

Deposit insurance disbursements........................................................................... ......186

ix

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LIST OF CHARTS

Page

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

Map: Federal Deposit Insurance Corporation districts....................................... vii

A. (Map). Deposit insurance coverage, banks of deposit, December 31, 1949. 28

B. (Map). Percentage expansion of business and personal deposits, all banks,

December 31, 1945-1949.............................................................................. 32

C. (Map). Percentage expansion of total loans, all banks, December 31, 1945-

1949................................................................................................................ 33

D. Banks grouped by ratio of total capital accounts to total assets, insured

commercial banks, December 31, 1949.................................................... 37

E. Sources and disposition of total income, insured commercial banks, 1949. 40

F. Recoveries and charge-offs, insured commercial banks, 1934-1949.......... 44

G. Disposition of net profits after taxes, insured commercial banks, 1935-1949 45

H. Comparison of profits retained in capital accounts with capital ratios and

rates of net profits, insured commercial banks in each State, 1949.... 48

I. Total and insured deposits, all insured banks, 1934-1949......................... 60

J. Proportion of accounts fully protected and deposits insured, all insured

banks, by size of bank, September 30, 1949............................................ 65

K. Accounts fully protected and deposits insured with maximum coverages of 

$5,000, $10,000, $25,000, and all deposits, all insured banks, September

30, 1949......................................................................................................... 73

L IS T OF T A B L E S 

PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

D e p o s it in s u r a n c e p r o t e c t io n :

1. Losses to depositors and to the Federal Deposit Insurance Corporation

in insured banks in financial difficulties, by years, 1934-1949................. 6

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

banks placed in receivership or merged with the financial aid of the Corporation, 1934-1949..................................................................................... 7

3. Payment of deposits by the Corporation and by receivers in insured banks

placed in receivership, 1934-1949 ............................................................... 8

4. Disbursements to protect depositors, recoveries, and losses by the Corporation from insured banks placed in receivership or merged with its 

financial aid, 1934-1949............................................................................... 9

5. Estimated losses compared with disbursements, and average estimated

loss per bank aided, by year of estimate, 1944-1949................................ 10

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

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

unsafe or unsound practices or violations of law or regulations, 1936-1949 13

7. Actions by the Federal Deposit Insurance Corporation on applications

from banks for admission to insurance, 1935-1949................................... 14

8. Actions by the Federal Deposit Insurance Corporation on applications

for approval of establishment or continued operation of branches, 1935- 

1949 ............................................................................................................... 15

O r g a n iz a t io n a n d f in a n c ia l s t a t e m e n t s of th e c o r p o r a t io n :

9. Officers and employees of the Federal Deposit Insurance Corporation,

December 31, 1949....................................................................................... 17

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

calendar year 1949....................................................................................... 18

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

beginning operations.................................................................................... 19

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Page

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

December 3J, 1948, and December 31, 1949................................................. 20

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

1934-1949.............................................................................................................. 21

14. Financial statements of the Federal Deposit Insurance Corporation-—from

Auditors’ Report for year ended June 30, 1949........................................... 24

PART TW O 

BANKING DEVELOPMENTS

Banks and branches:

15. Number and deposits of operating banks in the United States and possessions, December 31, 1949.................................................................................. 27

Assets, deposits, and capital accounts:

16. Assets and liabilities of all banks in the United States and possessions,

December 31, 1949, 1948, and 1945................................................................ 30

17. Deposits of all banks in the United States and possessions, by type of

deposit, June and December, 1945-1949........................................................ 31

18. Principal types of loans of all banks in the United States and possessions,

December 31, 1945-1949.................................................................................... 33

19. Agricultural and real estate loans of all banks in the United States and

possessions, December 31, 1945-1949.............................................................. 34

20. Estimates of commercial bank loans guaranteed or insured by agencies

of the United States Government, December 31, 1947-1949................... 35

21. Other loans to individuals (consumer loans), insured commercial banks,

December 31, 1945-1949................................................................................... 35

22. Maturities of United States Government obligations held by insured

commercial banks, December 31, 1941-1949................................................. 36

23. Capital accounts of all commercial banks in the United States and possessions, December 31, 1945-1949...................................................................... 37

24. Substandard assets of insured commercial banks, examinations 1939 to

1949........................................................................................................................ 39

Earnings of insured commercial banks:

25. Sources and disposition of total income, insured commercial banks, 1945

to 1949................................................................................................................... 40

26. Earnings, expenses, and profits of insured commercial banks, 1934-1949.. 41

27. Selected operating ratios of insured commercial banks, 1945-1949............... 42

28. Use of reserve method of accounting for bad debt losses on loans by insured

commercial banks, 1948 and 1949................................................................ 43

29. Comparison of selected ratios of insured commercial banks, by State, 1949. 47 

M utual savings banks:

30. Number and deposits of all banks and mutual savings banks in States

having mutual savings banks, December 31, 1949................................... 49

31. Assets and liabilities of all mutual savings banks in the United States,

selected dates, 1945-1949................................................................................... 50

32. Maturities of United States Government obligations held by mutual

savings banks, December 31, 1947-1949...................................................... 51

33. Number and deposits of insured and noninsured mutual savings banks,

December 31, 1949.............................................................................................. 52

34. Amounts and average rates of income received and dividends paid by

insured mutual savings banks, 1934-1949...................................................... 53

PART THREE 

DEPOSIT ACCOUNTS AND INSURANCE COVERAGE

Special calls for deposit information:

35. Comparison of deposits reported in the special survey and in reports of

condition, 1949

All insured banks, United States and possessions....................................... 58

LIST OF TABLES xi

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xii FEDERAL DEPOSIT INSURANCE CORPORATION

Page

A cco u n ts a n d in s u r e d d e p o sit s in a l l in s u r e d b a n k s :

36. E stim ated insured deposits in all insured banks, June 30 and Decem ber

3 1 ,1 9 3 4 -1 9 4 9 ................................................................................................................................. 61

37. Accounts and deposits in all insured banks, special call dates, 1 9 3 4 -1 9 4 9 .. 61

38. N um ber of insured banks, special call dates, 1934-1949

All insured banks grouped by amount of deposits................................................ 62

39. Accounts in insured banks, special call dates, 1936-1949

All insured banks grouped by amount of deposits................................................ 62

40. D eposits in insured banks, special call dates, 1936-1949

All insured banks grouped by amount of deposits................................................ 63

41. Insured deposits, special call dates, 1936-1949

All insured banks grouped by amount of deposits................................................ 64

42. D eposit accounts fully protected by insurance, special call dates, 1936-1949

All insured banks grouped by amount of deposits................................................ 64

43. Proportions of deposits insured and of accounts fully protected, special

call dates, 1936-1949

All insured banks grouped by amount of deposits................................................ 66

44. Accounts and deposits, all insured banks, Septem ber 30, 1949

Banks grouped by population of center in which located.................................. 66

45. N um ber of deposit accounts b y type, all insured banks, 1 9 3 6 -19 4 9 ................ 67

46. A m ount of deposits b y type, all insured banks, 1 9 3 6 -1 9 4 9 ................................... 68

47. Average size of account b y type, all insured banks, 1 9 3 6 -19 4 9 .......................... 68

48. Distribution of insured banks and their accounts and deposits by class

of bank, September 30, 1 9 4 9 ............................................................................................... 69

49. N um ber of accounts in insured commercial banks on special call dates,

1934-1949

Grouped by size of account................................................................................................. 69

50. Deposits in insured commercial banks, special call dates, 1934 to 1949

Accounts grouped by size.................................................................................................... 70

51. Distribution of deposits in insured commercial banks according to type

of deposit, September 30, 1949

Banks grouped by amount of deposits....................................................... 71

52. Accounts and deposits in insured m utual savings banks, special call dates,

1949 and 1945

Grouped by size of account........................................................................ 71

I n s u r a n c e p r o te c tio n u n d e r c o ve r ag e s fo r e a c h a c c o u n t of $5,000,

$10,000, AND $25,000, ALL INSURED BANKS:

53. Accounts fully and partially protected with m axim um coverages per account of $5,000, $10,000, and $25,000, all insured banks, 1 9 34 -19 4 9 .......... 74

54. Insured and uninsured deposits with m axim um coverages per account

of $5,000, $10,000, and $25,000, all insured banks, 1 9 34-1949....................... 74

55. Accounts fully protected w ith m axim um coverages per account of $5,000,

$10,000, and $25,000, Septem ber 30, 1949

All insured banks grouped by amount of deposits................................................ 75

56. A m ou n t of deposits insured w ith m axim um coverages per account of

$5,000, $10,000, and $25,000, Septem ber 30, 1949

All insured banks grouped by amount of deposits................................................ 75

57. D eposits insured with m axim um coverages per account of $5,000, $10,000,

and $25,000, Septem ber 30, 1 9 4 9 .....................................................................................

All insured banks grouped by population of center in which located 76

58. Accounts fully protected w ith m axim um coverages per account of $5,000,

$10,000, and $25,000, all insured banks, Septem ber 30, 1 9 4 9 .......................

Accounts grouped by type of deposit 77

59. D eposits insured w ith m axim um coverages per account of $5,000, $10,000,

and $25,000, all insured banks, Septem ber 30, 1949

Accounts grouped by type of deposit............................................................................. 78

60. Effect of increased insurance coverage on insured deposits, Septem ber 30,

1949Insured commercial banks grouped by percent of deposits insured under

$5,000 per account................................................................................................................. 79

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LIST OF TABLES xiii

D e t a il e d t a b l e s : d is t r ib u t io n o f a c c o u n t s o f in s u r e d c o m m e r c ia l b a n k s

ACCORDING TO SIZE OF ACCOUNT

61. Distribution of accounts according to size, insured commercial banks,

September 30, 1949

Banks grouped by Federal Deposit Insurance Corporation district

and State................................................................................................

62. Distribution of accounts according to size, insured commercial banks,

September 30, 1949

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

located, percent of deposits insured, and class; and accounts grouped

by type. . ...............................................................................................

63. Distribution of demand accounts of individuals, partnerships, and corporations, according to size of account, insured commercial banks, September 30, 1949

Banks grouped by Federal Deposit Insurance Corporation district

and State................................................................................................

64. Distribution of savings and time accounts of individuals, partnerships,

and corporations, according to size of account, insured commercial 

banks, September 30, 1949 

Banks grouped by Federal Deposit Insurance Corporation district

and State................................................................................................

65. Distribution of demand accounts of individuals, partnerships, and corporations, according to size, insured commercial banks, September 

30, 1949

Banks grouped by amount of deposits.......................................................

66. Distribution of savings and time accounts of individuals, partnerships and

corporations, according to size, insured commercial banks, September

30, 1949

Banks grouped by amount of deposits.......................................................

D e t a il e d t a b l e s : d is t r ib u t io n of d e p o sit s in in s u r e d c o m m e r c ia l b a n k s

a c co r d in g to size of a c c o u n t

67. Distribution of deposits according to size of account, insured commercial

banks, September 30, 1949

Banks grouped by Federal Deposit Insurance Corporation district

and State................................................................................................

68. Distribution of deposits according to size of account, insured commercial

banks, September 30, 1949

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

located, percent of deposits insured, and class; and accounts grouped

by type...................................................................................................

69. Distribution of demand deposits of individuals, partnerships, and corporations, according to size of account, insured commercial banks, 

September 30, 1949

Banks grouped by Federal Deposit Insurance Corporation district

and State................................................................................................

70. Distribution of savings and time deposits of individuals, partnerships,

and corporations, according to size of account, insured commercial 

banks, September 30, 1949

Banks grouped by Federal Deposit Insurance Corporation district

and State................................................................................................

71. Distribution of demand deposits of individuals, partnerships, and corporations, according to size of account, insured commercial banks,

September 30, 1949.....................................................................................

Banks grouped by amount of deposits

72. Distribution of savings and time deposits of individuals, partnerships, and

corporations, according to size of account, insured commercial banks, 

September 30, 1949 

Banks grouped by amount of deposits.......................................................

80

82

84

86

88

89

90

92

94-

9fr

98

99

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x iv FEDERAL DEPOSIT INSURANCE CORPORATION

Page

D e t a il e d t a b l e s : d is t r ib u t io n o f a c c o u n ts a n d d e p o sit s b y s iz e of

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

73. Distribution of accounts according to size, insured mutual savings banks,

September 30, 1949 

Banks grouped by Federal Deposit Insurance Corporation district.

State, amount of deposits, and population of center; and accounts

grouped by type..................................................................................... 100

74. Distribution of deposits according to size of account, insured mutual

savings banks, September 30, 1949

Banks grouped by Federal Deposit Insurance Corporation district,

State, amount of deposits, and population of center; and accounts

grouped by type......................................................................... ........... 102

D e t a il e d t a b l e s : a c c o u n t s f u l l y p r o te c te d a n d d e p o sit s in s u r e d w it h

s p e c if ie d a m o u n t s o f m a x im u m c o v e r a g e

75. Accounts fully protected and deposits insured with specified amounts of

maximum coverage, insured commercial banks, September 30 „ 1949 

Banks grouped by Federal Deposit Insurance Corporation district

and State...................................................................................... ......... 104

76. Accounts fully protected and deposits insured with specified amounts

of maximum coverage, insured commercial banks, September 30, 1949 

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

located, percent of deposits insured, and class; and accounts grouped

by type................................................................................................... 106

77. Accounts fully protected and deposits insured with specified amounts of

maximum coverage, insured mutual savings banks, September 30, 1949 

Banks grouped by Federal Deposit Insurance Corporation district,

State, amount of deposits, and population of center in which located;

and accounts grouped by type................................................................ 108

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

INu 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...................................................................................................... 124

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

in the United States and possessions during 1949................................. 126

102. Number of operating banks and branches, December 31, 1949

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

and type of office................................................................................... 128

103. Number and deposits of operating banks, December 31, 1949

Banks grouped according to insurance status and by district and State.. 136

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...................................................................................................... 138

104. Assets and liabilities of operating banks in the United States and possessions, June 30, 1949 

Banks grouped according to insurance status and type of bank............. 140

105. Assets and liabilities of operating banks in the United States and possessions, December 31, 1949

Banks grouped according to insurance status and type of bank............. 142

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

possessions, December 31, 1949

Banks grouped by district and State........................................................ 144

107. Assets and liabilities of operating insured banks, December 31, 1949,

June 30, 1949, and December 31, 1948..................................................... 146

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LIST OF TABLES XV

Page

E x a m in e r s ’ e v a l u a t io n o f in s u r e d c o m m e r c ia l b a n k s :

Explanatory n o te ....................................................................................................................................... 150

108. Exam iners’ appraisal of assets, liabilities, and capital of insured com ­

mercial banks examined in 1 9 4 1 -1 9 4 9 ......................................................................... 152

109. Exam iners’ appraisal of assets, liabilities, and capital of insured com ­

mercial banks examined in 1949

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

110. Exam iners’ appraisal of assets, liabilities, and capital of insured commercial banks examined in 1949

Banks grouped by Federal Deposit Insurance Corporation district and

State........................................................................................................................................ 156

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 n o te ....................................................................................................................................... 158

111. Earnings, expenses, and dividends of insured commercial banks, 1941-1949 160

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

1 9 4 1 -1 9 4 9 ...................................................................................................................................... 162

113. Earnings, expenses, and dividends of insured commercial banks, 1949

By class of bank.................................................................................................................... 164

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

1949

By class of bank.................................................................................................................... 166

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

throughout 1949

Banks grouped according to amount of deposits.................................................. 168

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

operating throughout 1949

Banks grouped according to amount of deposits.................................................. 170

117. Earnings, expenses, and dividends of insured commercial banks, by

State, 1 9 4 9 ................................................................................................................................... 172

118. Earnings, expenses, and dividends of insured m utual savings banks,

1 9 4 1 -19 4 9 ...................................................................................................................................... 182

119. Ratios of earnings, expenses, and dividends of insured m utual savings

banks, 19 4 1-194 9 ...................................................................................................................... 184

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 n o te ....................................................................................................................................... 186

120. Disbursements b y the Federal D eposit Insurance Corporation to protect

depositors; number of banks, deposits of, and number of depositors in

insured banks placed in receivership or merged with the financial aid

of the Corporation, 1934-1949

Banks grouped by class of banky year of receivership or merger, amount

of deposits, and State.................................................................................................... 188

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

banks merged with the financial aid of the Federal D eposit Insurance

Corporation, 1934-1949

.As shoivn by books of bank at date of closing....................................................... 190

122. N am e, location, Federal D eposit Insurance Corporation disbursement,

and assets and liabilities of insured banks merged with the financial

aid of the Corporation during 1 9 4 9 ........................................................................... 191

123. Recoveries and losses by the Federal D eposit Insurance Corporation

in connection with insured banks placed in receivership or merged

w ith the financial aid of the Corporation, 1934-1949

As shown by books of FDICt December 31, 1949............................................... 192

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Federal Reserve Bank of St. Louis
SUMMARY

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

During 1949 the Federal Deposit Insurance Corporation disbursed 

$3 million to protect depositors in four insured banks in financial difficulties. Total disbursements of the Corporation for this purpose during 

its 17 years of operation were $315 million, extended to protect the depositors of 411 insured banks. The difficulties of all four banks aided 

during 1949 were attributed to defalcations by officers or employees. 

(Pp. 3 and 5-6).

In 1949 proceedings were initiated against one insured bank for engaging in unsafe and unsound banking practices. Since 1935 a total of 

142 banks have been charged with engaging in such practices. In about 

one-fourth of these cases the banks have corrected the practices; in the 

remaining cases the banks have suspended operations or have been 

absorbed or succeeded by other banks. (Pp. 12 and 13).

The surplus of the Corporation, which is the reserve fund available 

for deposit insurance purposes, amounted to $1.2 billion at the end of 

1949. This is about three-fourths of 1 percent of the deposits in insured 

banks. (Pp. 19 and 20).

Bank assets and deposits showed a moderate growth in 1949 of 3 

percent and 2 percent respectively. During the four-year period between 

the end of 1945 and 1949 business and personal deposits expanded by 

15 percent. Bank loans expanded by about two-thirds during the same 

period, and marked changes occurred in the composition of the loan 

portfolios of the banks. At the end of 1949 real estate loans were 36 

percent of all loans, commercial and industrial loans 34 percent, and 

other loans to individuals 16 percent. (Pp. 29-33).

Over two-fifths of all insured commercial banks hold valuation reserves 

against loans, a practice which was stimulated by a ruling by the Commissioner of Internal Revenue in 1947 permitting banks to accumulate 

limited amounts of tax-free reserves for bad-debt losses on loans. At 

the close of 1949 all insured commercial banks held $0.5 billion in reserve 

accounts against loans, of which about one-third had been placed in 

those accounts during the year. (P. 43).

On September 30, 1949, insured banks held 104 million deposit accounts, of which 96 percent had balances of $5,000 or less. More than 

one-half of the remaining accounts had balances of less than $10,000. 

The amount of deposits insured under the $5,000 limitation per depositor

xix

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Federal Reserve Bank of St. Louis
XX Summary

was estimated at $75 billion, or 49 percent of total deposits. It was 

estimated that expansion of this protection from $5,000 to $10,000 per 

depositor would add $12 billion to the amount of deposits insured by 

the Corporation; and that extension of coverage to $25,000 per depositor 

would increase the amount of insured deposits by an additional $12 

billion. (Pp. 59-73).

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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

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Federal Reserve Bank of St. Louis
Deposit Insurance Protection

For more than five years the Federal Deposit Insurance Corporation 

has been entirely successful in protecting all deposits in insured banks. 

The last receivership of an insured bank was in May 1944. This record of 

safety for depositors is without parallel in the history of American 

banking.

During 1949 the Federal Deposit Insurance Corporation protected 

the depositors of four insured banks which were in financial difficulties. 

Each of these banks was merged with another insured bank in the same 

area, and no interruption to banking services occurred. Depositors in 

these banks had balances aggregating $5 million. The Corporation 

advanced about $2.5 million which, with the acceptable assets taken 

over by the absorbing banks, fully covered the liabilities assumed.

Methods of protecting depositors. Under the Federal deposit 

insurance law the Corporation protects depositors in several different 

ways. When a bank is closed because of inability to meet the demands 

of its depositors, the Corporation pays depositors up to a maximum of 

$5,000 each. Furthermore, the Corporation has authority, under certain 

conditions specified in the law, to protect depositors by making advances 

to an insured bank in difficulty to facilitate its merger or consolidation 

with another insured bank, or to facilitate the purchase of its assets and 

assumption of its deposits by another insured bank. In the following 

discussion and statistical tabulations all such mergers, consolidations, 

and assumptions of deposits are referred to as “mergers” .

The protection of depositors by means of cash advances to facilitate 

mergers is accomplished by the transfer of all of the deposits of the weak 

bank to a sound insured bank. These transferred deposits are available 

in full on demand in the assuming bank. The advantages of this method 

of protecting depositors are many. In addition to the complete protection 

of depositors, the disruption, confusion, and heavy losses which usually 

follow a bank receivership are avoided, and banking services in the 

community are maintained without interruption.

During the early days of Federal deposit insurance, most of the banks 

in financial difficulty were closed and placed in receivership, and in 

such cases the Corporation made cash payments directly to depositors 

up to the insured maximum. As time went by, the disruptive effects of 

receivership were more clearly perceived when compared with the 

advantages of the merger method of depositor protection. Consequently, 

the Corporation, the State banking authorities, and the Comptroller of 

the Currency sought to avoid receiverships of banks in difficulty and to

3

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

assist such institutions in making application to the Corporation for 

advances of cash to facilitate mergers. This development gained momentum as cooperative working arrangements were established between 

the State authorities and the Corporation. The fact that no insured 

bank has been placed in receivership since 1944 testifies to the vast 

improvement in these relationships and to the effectiveness of the cooperation between the Corporation and the other bank supervising 

authorities, State and national.

The Federal Deposit Insurance Corporation by adopting the policy 

of making advances to banks in financial difficulties to facilitate a merger 

has achieved a major advance in the stabilization of the banking system. 

The results of this policy have had a strong, continuing reciprocal effect— 

the stability inspiring confidence and the confidence producing stability.

At first when advances were made by the Corporation to facilitate 

merger transactions, they were in the form of loans secured by the assets 

of the distressed bank not acceptable for acquisition by the assuming 

bank. These assets were liquidated by the Corporation in an orderly 

manner and over such period of time as was required to realize the maximum recovery. Up until the early part of 1940, practically all of the 

advances in aid of mergers were in the form of loans secured by unacceptable assets. Since the Corporation did not have title to the assets 

received as security for these loans, it became necessary in some cases to 

engage in considerable legal process to effect their liquidation. The results 

were added costs of liquidation and many delays. Because of these 

undesirable features in the loan arrangement, much study was devoted 

to alternative plans for making such advances.

This led to the third development in the evolution of the Federal 

Deposit Insurance Corporation’s program for protecting bank depositors—the making of an advance to a bank in difficulties in the form of a 

purchase of assets. The only difference between the loan and asset 

purchase methods is the nature of the Corporation’s title to the assets 

it receives from the bank in connection with the advance. In the case 

of a loan, such assets are held as collateral security. In an asset purchase, 

the Corporation becomes the owner of such assets. The asset purchase 

method is arranged so that if the assets purchased are liquidated for an 

amount in excess of the advance, expenses incident to liquidation, and 

a return equivalent to 4 percent on the advance, the excess recovery is 

paid to the selling bank as an additional cash purchase price. By this 

means the Corporation obtains absolute and unqualified title to the 

assets it receives from the distressed bank. Accordingly, liquidation of 

such assets is less cumbersome and more economical. Moreover, since 

the net cash excess recoveries are paid to the bank as an additional cash 

purchase price, the lower cost of liquidation of the assets under the asset 

purchase method redounds to the benefit of the bank’s stockholders.

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DEPOSIT INSURANCE PROTECTION 5

A fourth development in depositor protection provided by the Federal 

Deposit Insurance Corporation is in fact an outgrowth of the success 

of the Corporation in stabilizing the banking system and engendering 

the confidence of the depositors in banks. Because this confidence is 

universal, banks in financial difficulties in recent years are spared the 

pressures resulting from panic behavior of depositors. In this favorable 

atmosphere the Corporation and the other bank supervisory agencies are 

now able to assist a bank in financial difficulties to negotiate a merger or 

sale to another bank or to effect a recapitalization or rehabilitation with 

the assistance of its stockholders or other interested persons in the 

community. When such negotiations are successful, depositors are protected in full without financial assistance from the Corporation and 

part or all of the stockholders’ equity in the bank may be preserved.

This newest method of protecting depositors represents a far-reaching 

improvement. Its importance is highlighted by the fact that it is basically 

a mutual self-help arrangement which is so vital to the preservation of 

the American free enterprise dual banking system. By encouraging and 

sponsoring the use of this method of protecting depositors, the Corporation 

believes it is fulfilling in the highest degree the ultimate purposes of 

Federal deposit insurance.

Aid to insured banks for protection of depositors, 1949. The four 

banks merged in 1949 had 5,660 accounts with deposits aggregating 

$4,977,235. To protect these deposits the Corporation disbursed 

$2,551,585, exclusive of expenses of $80,104 incurred in handling and 

protecting the assets acquired by the Corporation.

The financial difficulties of all four banks aided during 1949 were 

directly attributable to defalcations by officers or employees of the 

banks. The sum of the defalcations was over $900,000, of which only 

about one-fourth was covered by fidelity insurance. The Federal Deposit 

Insurance Corporation continues to stress strongly the need for adequate 

safeguards and constant vigilance on the part of bank directors to prevent 

defalcations.

In another case the Corporation assisted in arrangements whereby 

an insured bank which was in financial difficulties was taken over by a 

stronger insured bank without direct financial aid by the Corporation. 

The absorbed bank, which had deposits of $1,200,000, has been converted 

into a branch of the absorbing bank. This procedure prevented any loss 

or delay in banking services to the depositors.

Aid to insured banks for protection of depositors, 1934-1949.

During the 16-year period of its operation the Corporation has made 

disbursements in 411 insured banks. These banks had 1,348,000 deposit 

accounts, totaling $528 million. Disbursements amounted to $270 million, 

exclusive of advances for the protection and maintenance of collateral,

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

liquidation expenses, and the cost of assets purchased from receivers of 

closed banks. Including such advances and expenses, the Corporation’s 

disbursements were $315 million. The number of depositors and their 

losses, together with the estimated loss of the Corporation, during each 

of the 16 years, are given in Table 1.

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

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

b y Y e a r s , 1934-1949

Year

Number

of

banks

Number

of

depositors1

Amount

of

deposits

(in thousands)

Losses

to

depositors2

(in thousands)

Losses

to

FDIC3

(In thousands)

1934-1949.......................... 411 1,347,948 $527,655 $1,870 $25,490

1949................................ 4 5,660 4,977 505

1948................................ 3 18,311 10,455 775

1947................................ 5 10,618 6,966 114

1946................................ 1 1,404 316

1945................................ 1 12,484 5,695

1944................................ 2 5,488 1,915 3 37

1943................................ 5 27,372 12,535 18 123

1942................................ 20 60,602 19,011 5 683

1941................................ 15 73,046 29,721 69 621

1940................................ 43 256,373 142,389 31 3,785

1939................................ 60 392,765 157,790 989 7,483

1938................................ 74 203,970 59,724 40 2,431

1937................................ 75 130,409 33,345 110 3,579

1936................................ 69 89,024 27,528 171 2,415

1935................................ 25 44,655 13,320 415 2,732

1934................................ 9 15,767 1,968 19 207

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

2 Excludes unclaimed deposits on which insurance has been terminated or the claims barred by

statute of limitations.

3 Sum of losses in the cases in which the disbursement by the Corporation to protect depositors was

not repaid in full. Excludes interest or gains in cases in which the disbursement by the Corporation was

fully recovered and gains or losses on assets purchased by the Corporation from receivers of closed

banks. For the net loss of the Corporation, see the item, “Losses incurred and reserves for losses,” in

note 1 to Table 12, p. 20.

Detailed data: see Tables 120-123, pp. 188-92.

During this period, 245 insured banks were placed in receivership and 

166 insured banks were merged with other insured banks with the aid 

of the Corporation. In the receiverships, 325,460 out of 382,764 depositors 

were paid in full. In the mergers, none of the 965,184 depositors experienced any loss, as all deposit liabilities were assumed by the absorbing 

banks. The depositors in the banks merged comprised 72 percent of all 

depositors in insured banks aided by the Corporation. Together with 

depositors in receiverships who were paid in full, 96 percent of all depositors will suffer no loss. In amounts, recoveries to depositors are 

estimated to be $107,285,000 in receiverships and $418,052,000 in mergers, 

or a total of 99.6 percent of all deposits in those banks. Further details 

are given in Table 2.

The Corporation’s disbursements to insured depositors in receiverships 

were $87,044,000; in addition, $21,000 has been set aside for unproven 

claims. This figure is slightly less than was previously reported due to

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Federal Reserve Bank of St. Louis
DEPOSIT INSURANCE PROTECTION 7

final determination of unproven depositor claims, which had been 

carried as insured deposits by the Corporation pending such determination. In mergers, the Corporation has made principal disbursements of 

$182,917,000.

T a b le 2 . N u m b e r o f D e p o s it o r s, A m o u n t o f D e p o s it s, R e c o v e r ie s, a n d

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

t h e F in a n c ia l A id o f t h e C o r p o r a t io n , 1934-1949

Total

Banks placed

in

receivership

Banks merged

with financial

aid of FDIC

411 245 166

1,347,948 382,7641 965,184

1,290,644

2,509

54,795

$527,655

325,460

2,509

54,795

$109,603

965,184

$418,052

525,337

1,870

448

107,285

1,870

448

418,052

$269,961 $ 87,044 $182,917

$ 25,490 $ 14,454 $ 11,036

Item

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

Number of depositors.................................................

Estimated number with no loss...............................

Estimated number with some loss2.........................

Estimated number with claims barred by termination of insurance or receivership3........................

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

Estimated recovery by depositors...........................

Estimated loss by depositors....................................

Insurance terminated or claims barred. ...............

Disbursement by FDIC (in thousands)4................

Estimated loss to FDIC (in thousands)6..............

1 During the year 2 claims previously unsettled were found to be invalid.

2 1,502 depositors will lose an estimated $1,828,000 in accounts which exceeded the limit of $5,000

insurance and were not otherwise protected, and 1,007 depositors will lose about $42,000 in accounts

which had been restricted or deferred prior to 1934, or were otherwise ineligible for insurance protection.

3 Of these 54,795 claims, it is estimated that 4,110 will be fully paid or held in trust, and 4,573 will

be partially paid.

* Excludes advances for the protection and maintenance of collateral, liquidation expenses, and

the cost of assets purchased from receivers of closed banks. Also excluded is $21,000 set aside for payment of depositor’s claims not yet proven in the receivership cases. For the amount of disbursements

including these items, see note 1 to Table 12, p. 20.

6 See note 3 to Table 1.

Detailed data: see Table 120-123, pp. 188-92.

Receiverships. Of the 245 insured banks placed in receivership, all 

but 15 have been fully liquidated. The Corporation is receiver for two 

of the banks still in process of liquidation. These are national banks 

which had total deposits of $5 million. It is estimated that no loss will 

be suffered by depositors or by the Corporation in these two cases. In 

the 13 State banks still in receivership, the Corporation is not the receiver. 

These banks had deposits aggregating $36 million at the time of failuie. 

Through the State banking authorities, the Corporation obtains information on the results of liquidation of these banks from periodic reports 

by the receivers or liquidators. It is nowr estimated that losses to depositors 

in these banks will amount to $1 million and to the Corporation nearly 

$5 million.

Three receiverships were terminated during the year. Deposits in 

these were $3 million, of which only $20,000 were lost by depositors who 

had accounts in excess of $5,000. The loss to the Corporation in these 

cases was $312,000.

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8 FEDERAL DEPOSIT INSURANCE CORPORATION

Since 1934, the Corporation has disbursed $87,044,000 to insured 

depositors, and there remains $21,000 in unproven claims. Losses to the 

Corporation are expected to amount to $14,454,000 or 17 percent of 

disbursements. Those to depositors will be only 2 percent of their deposits. 

Details of deposits are presented in Table 3.

Table 3. P a y m e n t o f D e p o sit s b y t h e C o r p o r a tio n a n d b y R e c e iv e r s

in I n s u r e d B a n k s P la c e d in R e c e iv e r s h ip , 1934-1949

(In thousands)

Status of deposits Total

Paid by

Dec. 31,

1949

Unpaid on

Dec. 31,

1949

Deposits— tota l.............................................................................. $109,603 $107,263 $2,340

Insured........................................................................................... 87,065 87,044 21

Secured, preferred, and subject to offset............................... 11,419

9,685

11,418

7,857

1

In excess of $5,000, not otherwise protected........................ 1,828

Other uninsured............................................................................ 936 894 42

Insurance terminated or claims barred1................................. 498 50 448

Deposits, terminated receiverships, (230 banks)— total 68,466 67,449 1,017

Insured........................................................................................... 54,299

8,348

4,708

54,299

8,348

3,858

Secured, preferred, and subject to offset...............................

In excess of $5,000, not otherwise protected........................ 850

Other uninsured............................................................................ 936 894 42

Insurance terminated or claims barred1................................. 175 50 125

Deposits, active receiverships, (15 banks)— total............ 41,137 39,814 1,323

Insured........................................................................................... 32,766 32,745

3,070

21

Secured, preferred, and subject to offset............................... 3,071

4,977

1

In excess of $5,000, not otherwise protected........................

Other uninsured............................................................................

3,999 978

Insurance terminated or claims barred.................................. 323 323

1 In a few cases payments have been made by receivers on deposits on which insurance had terminated either directly or into a trust to meet claims presented after termination or receivership.

In order to reduce liquidation expenses and expedite payment of 

creditors’ claims in receiverships, the Federal Deposit Insurance Corporation in several cases has purchased at public sale the residue of 

assets in the hands of receivers. By the end of 1949 the Corporation had 

disbursed $1.2 million to purchase such assets from 71 banks in receivership.

Mergers. In all four cases which required the financial aid of the 

Corporation during 1949, other insured banks were interested in assuming 

their deposit liabilities and acquiring a part of their assets. The remaining 

assets were purchased by the Corporation. Many of these may subsequently prove to be sound with full recovery, but at the time of the 

merger were considered undesirable for bank investment.

By the end of 1949, 166 insured banks with deposits of $418,052,000 

were merged with the aid of the Corporation. Disbursements amounted 

to $182,917,000. The assets acquired from these banks have been liquidated in 122 cases; liquidation was still in progress in the remaining 

44 cases.

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DEPOSIT INSURANCE PROTECTION 9

Assets acquired by the Corporation, in the case of an insured bank 

merged with the aid of the Corporation, are those not acceptable to the 

absorbing bank. Such assets, which are purchased or taken as collateral 

for a loan by the Corporation, are liquidated in such a manner and during 

such period as may be required, as determined by the Corporation, to 

provide the largest recovery. In this way liquidation losses have been 

substantially smaller than would have been the case with rapid liquidation. In cases where the Corporation recovers more than the full amount 

of its investment plus advances, expenses, and an allowable return on 

its investment, the excess is delivered to the banks’ legal equityholders.

Recoveries and losses to the Corporation. By December 31, 1949, 

the Corporation had recovered nearly $242 million of its $270 million 

disbursements in receiverships and mergers, and expected to recover an 

additional $3 million from liquidations not yet terminated. Table 4 

summarizes the Corporation’s disbursements and its recoveries and losses 

in the two groups of cases.

T a b le 4 . D is b u r s e m e n t s to P r o t e c t D e p o s it o r s, R e c o v e r ie s , a n d

L o sse s b y t h e C o r p o r a tio n fr o m I n s u r e d B a n k s P la c e d in

R e c e iv e r s h ip or M e r g e d w it h it s F in a n c ia l A id , 1934-1949

Item Total Liquidation

terminated

Liquidation

active

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

Receiverships................................................................................

Mergers...........................................................................................

411

245

166

352

230

122

59

15

44

Disbursements (in thousands)1..................................................

Receiverships................................................................................

Mergers...........................................................................................

$269,961

87,044

182,917

$120,362

54,299

66,063

$149,599

32,745

116,854

Estimated additional disbursements in receiverships

(in thousands)2......................................................................... 21 21

Recoveries (in thousands).............................................................

Receiverships................................................................................

Mergers...........................................................................................

241,737

72,424

169,313

107,829

44,582

63,247

133,908

27,842

106,066

Estimated additional recoveries (in thousands)................. 2,755

187

2,755

Receiverships................................................................................ 187

Mergers........................................................................................... 2,568

25,490

14,454

11,036

2,568

12,957

4,737

8,220

Losses by FDIC (in thousands)3.................................................

Receiverships................................................................................

Mergers...........................................................................................

12,533

9,717

2,816

1 Includes only principal disbursements; i.e., excludes expenses incident to the transaction, the

greater part of which has been recovered. See note 4 to Table 2.

2 Insured deposits which have not been paid. See Table 2.

3 Losses in principal disbursements: see note 3 to Table 1. Losses in terminated cases are the established losses; those in active cases are estimated.

Detailed data: see Table 123, p. 192.

In 1949 the total estimated losses to the Corporation increased slightly. 

This increase is due in part to the banks aided during the year and in 

part to revised estimates for banks closed in prior years. The first estimate 

of loss for any bank is necessarily subject to substantial revision, and 

in some cases revised estimates are larger than previous estimates.

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

For several years prior to 1949 estimated losses of the Corporation 

declined despite the increase in the number of banks aided. This was the 

result of the rise in prices and high level of prosperity which made 

possible larger recoveries on many assets than had been originally estimated. Table 5 gives the figures of total losses to the Corporation as 

estimated at the end of each of the past six years. Prior data are not 

available in exactly comparable form.

Table 5. E s t im a t e d L o sse s C o m p a r e d w it h D is b u r s e m e n t s, a n d A v e r a g e

E st im a t e d L oss pe r B a n k A id e d , b y Y e a r o f E s t im a t e , 1944-1949

Period

Number

of

banks

Disbursements

to

end of period

(in thousands)1

Losses as

estimated at

end of period

(in thousands)2

Estimated losses

as percent of

disbursements

Average

estimated

loss per bank

(in thousands)

1934-1949 411 $269,961 $25,490 9.4% $62

1934-1948......... 407 266,976 24,930 9.3 61

1934-1947......... 404 264,184 26,014 9.8 64

1934-1946 , 399 262,133 28,896 11.0 72

1934-1945 ......... 398 261,717 31,111 11.9 78

1934-1944 ......... 397 259,696 38,810 14.9 98

1 Principal disbursements. See note 4 to Table 2.

2 Losses on principal disbursements. See note 3 to Table 1.

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

Bank examinations. During 1949 the Corporation conducted 6,248 

regular examinations. In addition, it made 392 other examinations and 

investigations. The latter figure includes 94 special examinations, 53 

entrance examinations of operating banks, 90 new bank investigations, 

48 branch investigations, and 107 miscellaneous investigations. The 

regular examinations involved examinations of over 800 branches and 

more than 600 trust departments operated by the 6,248 banks examined.

During the year the Corporation, the two other Federal examining 

agencies, and the executive Committee of the National Association of 

Supervisors of State Banks adopted minor changes in the bank: examination and reporting procedure which has been followed by these agencies 

since July 1938.1 The revision provided for abandonment of the use of 

Roman numerals II, III and IV in the examined classification of bank 

assets, and substitution of the terms “ substandard” , “ doubtful” , and 

“ loss” , and for discontinuance of the practice of appraising Group 2 

(subinvestment quality) securities on the basis of the 18-month average 

of market value. Such securities are now appraised at current market 

value. There was no change with respect to evaluation of United States 

Government and other Group 1 (investment quality) securities.

The revision involves no fundamental change in the present procedure 

nor does it signify any intention on the part of the examining authorities

1 For a description of the uniform examination procedure adopted in 1938, see the Annual Report of

the Corporation for 1938, pp. 61-78.

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SUPERVISORY ACTIVITIES 11

to become more severe in the classification of bank assets. Its purpose is 

clarification and simplification of procedure in the interest of more 

uniform application. It also recognizes the fact that use of the 18-month 

average price for Group 2 securities is no longer of practical significance 

since the banks of the country have only a nominal investment in such 

securities.

In conjunction with its examining activities, the Corporation was 

instrumental in effecting capital changes during the year in more than 

600 insured banks not members of the Federal Reserve System. Those 

changes include both cash increases in capital and decreases in Reconstruction Finance Corporation and other preferred capital. The net 

decrease in the latter amounted approximately to $1 million about evenly 

divided between the Reconstruction Finance Corporation and local 

interests. Cash increases totaled $4.5 million in common stock, and $2 

million in other capital account segregations. In addition, common 

capital accounts of this group of banks were increased by approximately 

$16.5 million through the medium of dividends in common stock.

Another constructive development occurring in 1949, and for which 

the Corporation was largely responsible, is the substantial increase in 

the number of insured banks carrying fidelity bond coverage equal to 

or in excess of the “minimum” and “ fair” amounts recommended by the 

Insurance and Protective Committee of the American Bankers Association. On the basis of the recommended “minimum” , this increase percentagewise was from 77 percent in 1948 to 93 percent in 1949. The 

improvement in the number of banks with “fair” coverage or more was 

from 33 to 49 percent, due primarily to an increase from 31 to 60 percent 

in insured banks not members of the Federal Reserve System carrying 

“fair” coverage or better.

In 1949, the Division of Examination was successful in maintaining 

its field examining force at a point closely approximating full required 

numerical strength for the first time since before the war. New appointments were sufficient in number to offset the separations occurring during 

the year and to fill many of the previously existing vacancies. It was 

necessary to make most of the new appointments on a temporary indefinite basis because adequate Civil Service registers of eligibles were 

not available. The examiners so appointed will be given an opportunity 

to qualify for permanent status through open competitive examinations.

The Corporation is continuing its educational program for examiners 

and assistants. This program, which was started in 1946, is designed to 

fit the particular needs of each participant and to supplement the training 

he receives on the job. Usually the program consists of correspondence 

study in courses given by the American Institute of Banking. In other 

cases, examiners or assistants are enrolled in residence courses offered

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12 FEDERAL DEPOSIT INSURANCE CORPORATION

through a college or university or by a local chapter of the American 

Institute of Banking. In the latter group are included enrollees in the 

American Bankers Association Graduate School of Banking held at 

Rutgers University, and in the Central States School of Banking at the 

University of Wisconsin. Approximately 75 percent of the examining 

staff were either enrolled or had completed courses under the program by 

the end of 1949. The entire cost of the program is paid by the Corporation. 

The Corporation believes that it is definitely to its own financial interest 

and to the interest of the banking system to keep its examiners abreast 

of the times and in step with the educational advancement of the bankers 

with whom they must deal directly.

Unsafe and unsound banking practices and violations of law

or regulations. During 1949, proceedings were initiated against one 

insured bank for engaging in unsafe and unsound banking practices and 

were continued against five other banks. Corrections were made by the 

banks in two cases; the proceedings were pending at the end of the year 

in the other four cases. The unsafe and unsound practices and violations 

of law and regulations with which one bank was charged in 1949 are 

listed below.

Capital:

Continued operation of the bank with an inadequate capital and with its surplus 

impaired.

Management and general practices:

Continued operation of the bank with a weak and hazardous management.

Failure to observe and comply with laws, rules, and regulations to which the bank 

is subject.

Failure of bank’s officers properly to exercise their functions.

Continued dissipation and conversion of bank’s assets to personal use of its officers 

and directors.

Making of improper and misleading entries upon the bank’s books and records.

Failure to maintain adequate credit data and information.

Cash shortages in undue amounts.

Improper handling of inactive accounts.

Loan and investment practices:

Lax, hazardous, and reckless lending policies.

Extensions of credit exceeding the limitations prescribed by law.

Unwarranted extension of credit by means of overdrafts and cash items.

Excessive amount of substandard and past due loans.

Maintenance of lax collection policies.

Since 1935, a total of 142 banks have been charged with unsafe and 

unsound practices. The disposition of these cases is given in Table 6.

Approval of banks for insurance. During 1949 the Corporation 

approved the applications of 90 banks for admission to insurance. Of 

these, 39 were new banks, 36 were operating as noninsured banks at the 

beginning of the year or were successors to such banks, 4 were financial 

institutions which had not been engaged previously in deposit banking, 

and 11 were insured banks which obtained new charters or withdrew 

from the Federal Reserve System. In addition, the Corporation approved

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SUPERVISORY ACTIVITIES 13

applications of five insured banks to exercise trust powers. Twelve 

applications for admission to insurance were disapproved because, in 

the opinion of the Board of Directors, the factors enumerated in the 

deposit insurance law were not met. One application was approved and 

later rescinded because the bank did not meet the capital requirements 

specified.

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 St a t u s o f B a n k s C h a r g e d

w it h E n g a g in g in U n s a f e o r U n s o u n d P r a c t ic 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, 1936-1949

Disposition or status

Total

cases

1936-19491

Pending

beginning

of 1949

Started

during

1949

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

Cases closed:

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

142

31

7

3

32

61

4

5

2

1

Insured status terminated, or date for such termination

set by Corporation, for failure to make corrections:

Banks suspended prior to or on date of termination of

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

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

Banks suspended prior to setting of date of termination

of insured status by Corporation....................................

Banks absorbed or succeeded by other banks:

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

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

Cases pending December 31, 1949:

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

Action deferred pending outcome of recapitalization plans

Action deferred pending reexamination..................................

2

2

1

2

1

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 later action is included.

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

Back data: See the Annual Report of the Corporation for 1948, p. 13, and earlier reports.

The number of applications for admission to insurance acted upon by 

the Corporation during each year since the beginning of the permanent 

plan of deposit insurance on August 23, 1935, together with the final 

action of the Corporation on these cases is given in Table 7.

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

number admitted. Some new banks approved for insurance are not 

opened, or the effective date of insurance is delayed for other reasons, 

until the subsequent year. In a few cases banks alter their plans or do 

not meet conditions specified by the Corporation. Banks which are 

chartered as national banks, and State banks which are admitted to the 

Federal Reserve System, become insured without action by the Corporation. For changes in the number of insured banks during 1949, see page 

126.

Approval of establishment of branches. During 1949 the Corporation approved the establishment of 53 branches by insured banks 

not members of the Federal Reserve System. Of these, 40 were for the 

establishment of new banking offices, 10 were banks to be absorbed and

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14 FEDERAL DEPOSIT INSURANCE CORPORATION

converted into branches, and 3 were branches to be established at former 

locations of head offices after the relocation of such offices. The Corporation also approved continuation of operation of seven branches 

previously operated by absorbed banks, banks admitted to insurance, 

or banks approved for continuance of insurance upon withdrawal from 

the Federal Reserve System. The Corporation disapproved four applications for permission to establish branches.

T a b le 7 . A c tio n s b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n o n

A p p lic a tio n s fr o m B a n k s fo r A d m issio n to I n s u r a n c e , 1935-1949

Year

Number of applications1

Acted

upon Approved2

Approved

but later

rescinded

Disapproved

1935-1949............................................................... 1,713 1,470 53 190

1949...................................................................... 108 95 1 12

1948...................................................................... 104 84 2 18

1947...................................................................... 155 135 3 17

1946...................................................................... 175 158 6 11

1945...................................................................... 124 116 3 5

1944...................................................................... 108 105 2 1

1943...................................................................... 198 190 4 4

1942...................................................................... 51 42 2 7

1941...................................................................... 81 78 2 1

1940...................................................................... 67 58 3 6

1939...................................................................... 85 72 3 10

1938...................................................................... 82 67 3 12

1937...................................................................... 133 111 8 14

1936...................................................................... 165 114 10 41

1935....................... .............................................. 77 45 1 31

1 Figures for years prior to 1949 may differ slightly from those given in previous Annual Reports

of the Corporation, because of later recisions of cases approved or revision of the data.

2 Includes approvals of change in type of business conducted. Excludes cases where approval was

later rescinded.

Table 8 gives the number of applications received each year from banks 

not members of the Federal Reserve System for approval of the establishment of branches, continued operation of branches of banks which 

had been absorbed or operated prior to admission to insurance, or relocation of branches, together with their final disposition.

The number of branches established by insured banks in a year differs 

from the number approved by the Corporation. Approval by the Corporation is not required for the establishment of branches by national 

banks or by State banks members of the Federal Reserve System. Some 

branches approved are opened in a subsequent year, and in a few cases 

the banks change their plans or fail to meet conditions specified by the 

Corporation. In 1946 the Corporation established a policy under which 

approval of a branch is automatically abrogated if the branch is not in 

operation within six months after date of approval, unless the bank 

receives an extension of time. For changes in the number of branches of 

insured banks in 1949, see page 127.

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SUPERVISORY ACTIVITIES 15

T a b le 8 . A c tio n s b y t h e F e d e r a l D e p o s it I n s u r a n c e C o r p o r a tio n o n

A p p lic a tio n s fo r A p p r o v a l o f E s t a b l is h m e n t or C o n t in u e d O p e r a t io n

o f B r a n c h e s , 1935-1949

Year

Number of applications1

Acted

upon Approved2

Approved

but later

rescinded3

Disapproved

1935-1949................................................................ 983 887 38 58

1949...................................................................... 64 58 2 4

1948...................................................................... 61 55 1 5

1947...................................................................... 83 72 3 8

1946...................................................................... 91 84 3 4

1945...................................................................... 61 58 1 2

1944...................................................................... 49 46 3

1943...................................................................... 105 101 2 2

1942...................................................................... 36 32 2 2

1941...................................................................... 49 46 3

1940...................................................................... 44 40 2 2

1939...................................................................... 61 53 3 5

1938...................................................................... 82 71 6 5

1937...................................................................... 89 82 5 2

1936...................................................................... 93 80 5 8

1935...................................................................... 15 9 6

1 Figures for years prior to 1949 may differ slightly from those given in previous Annual Report of

the Corporation, because of later recisions of cases approved or revision of the data.

2 Excludes cases where approval was later rescinded.

3 Includes cases where commitments expired under the 6-month limitation period.

Reports from banks. Semi-annual statements of average deposit 

liabilities were submitted by each insured bank as required by law for the 

purpose of determining the amount of the insurance assessment. Each 

insured bank was requested to submit as of September 30, 1949, a report 

showing the number of its deposit accounts and the amount of its deposit 

liabilities classified by type of deposit account and in the following size 

groups; $5,000 or less, $5,000 to $10,000, $10,000 to $25,000, and more 

than $25,000. Tabulations from these reports are given in Part Three, 

pages 57-113, of this report.

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

accounts as of June 30 and December 31, 1949, and for a report of earnings, expenses, and disposition of profits for the calendar year 1949, from 

each insured bank required by law to submit such reports to the Corporation. These reports are required from all insured State banks not 

members of the Federal Reserve System except those in the District 

of Columbia. As of June 30, 1949, the Corporation also called for reports 

of assets and liabilities of each office, in the case of banks operating more 

than one office.

Summaries of the tabulations from the reports of assets, liabilities, 

and capital accounts for June 30 and December 31, 1949, are given in 

the pamphlets published by the Corporation, “Assets and Liabilities, 

Operating Insured Commercial and Mutual Savings Banks,” Reports 

No. 31 and 32, and in Table 107 of this report, pages 146-49. Summaries

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16 FEDERAL DEPOSIT INSURANCE CORPORATION

of the reports of earnings, expenses, and disposition of profits are given 

in Tables 113-119, pages 164-85, of this report.

Through the cooperation of State banking authorities and of officials 

of banking institutions not under State or Federal supervision (mostly 

unincorporated banks), the Corporation obtained reports of assets and 

liabilities of noninsured banks and trust companies which do not file 

reports with a Federal Government agency. Tabulations from these 

reports, and tabulations for all banks and trust companies obtained by 

combining the data for insured and noninsured banks, are given in 

Tables 103-106, pages 136-45, of this report.

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

Federal legislation. Very little legislation directly affecting deposit 

insurance or the banking system in general was enacted during the first 

session of the 81st Congress. Public Law 359, approved October 15, 1949, 

increased the salary of members of the Board of Directors of the Federal 

Deposit Insurance Corporation from $15,000 to $16,000.

Public Law 109, approved June 20, 1949, authorized the President to 

send to Congress plans for the reorganization of the agencies in the 

Executive Department of the Government. Under this authorization the 

President may, among other things, transfer all or any part of any 

agency or all or any part of its functions to another agency. Such a plan 

would take effect upon the expiration of the first period of sixty days of 

continuous session of Congress following the date on which the plan is 

transmitted to it, unless within such sixty-day period either the House 

of Representatives or the Senate by an affirmative vote of a majority 

of its authorized membership passes a resolution disapproving the plan.

State legislation. A summary of State banking legislation enacted 

in 1949 is given on pages 117-22.

O r g a n i z a t io n a n d F in a n c i a 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

Directors and employees. Mr. Maple T. Harl, Mr. Preston Delano, 

and Mr. H. Earl Cook continued to serve as members of the Board of 

Directors throughout the year.

On December 31, 1949, the personnel of the Corporation consisted of 

1,088 officers and employees as compared with 1,033 at the beginning of 

the year. The change was primarily due to an increase in the field examining force. The decrease in liquidation personnel was due to continued 

reduction in the volume of assets remaining in the process of liquidation. 

The number of employees in each Division of the Corporation at the 

end of 1949 is given in Table 9.

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ORGANIZATION AND FINANCIAL STATEMENTS OF THE CORPORATION 17

T a b le 9 . O ff ic e r s a n d E m p l o y e e s o f th e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a t io n , D e c e m b e r 31, 1949

Division and office Number

T o ta l........................................................................................... 1,088

335

753

3

Executive Division........................................................................................................................... 24

Legal Division................................................................................................................................... 26

Division of Examination................................................................................................................. 719

Washington office........................................................................................................................... hi

............................................................................................................................ 678District and field

Division of Liquidation................................................................................................................... 100

Washington office........................................................................................................................... 26

Field................................................................................................................................................. 7U

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

Washington office........................................................................................................................... U6

Field.................................................................................................................................................. 1

Personnel Division............................................................................................................................ 19

Division of Accounts........................................................................................................................ 47

Audit Division............................................................................... 25

Service Division............................................................................. 78

Organization. Descriptions of the duties of each Division of the 

Corporation and of the Corporation’s standing committees, and of other 

aspects of the organization of the Corporation, are given in Subchapter 

A of Chapter 3, Title 12 of the Code of Federal Regulations. This chapter 

of the Code of Federal Regulations, which comprises the rules and 

regulations of the Federal Deposit Insurance Corporation, was reprinted 

by the Corporation as of August 15, 1948. Copies may be obtained upon 

request to the Secretary of the Corporation. A chart with a brief description of the duties of each Division is given on page iv of this report.

Income and expenses. The total income of the Corporation in 1949 

was $145.5 million. Of this amount, $120 million represented assessments; 

$25 million interest on investments; and $0.5 million interest on loans 

and other income.

Total losses and expenses of the Corporation in 1949 amounted to 

$6.5 million, of which $0.5 million were insurance losses and expenses 

and $6 million administrative expenses.

The surplus of the Corporation was increased by $138 million during 

the year, reflecting income of $139 million in excess of expenses and 

losses, minus $1 million of adjustments to surplus applicable to prior 

periods.

A statement of the income and expenses of the Corporation for the 

year 1949 is given in Table 10.

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18 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 1 0 . 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 , C a l e n d a r Y e a r 1949

Income or expense item Amount

Income:

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

Interest earned on government obligations...................................................

Other interest received.......................................................................................

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

Total incom e................................................................................

Expenses:

Deposit insurance losses and expense.............................................................

Administrative expenses (see below)..............................................................

Furniture, fixtures, and equipment purchased and charged off...............

Total expenses..............................................................................

Net income added to surplus.................................................

Surplus:

As previously reported for December 31, 1948............................................

Less— Net adjustments applicable to periods prior to January 1, 1949

Surplus December 31, 1948, as adjusted...........................

Surplus December 31, 1949.....................................................

DISTRIBUTION OF ADMINISTRATIVE EXPENSES

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

Professional services...............................................................................................

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

Transportation.........................................................................................................

Subsistence................................................................................................................

Office rental..............................................................................................................

Printing, stationery, and supplies........................................................................

Postage, telephone, and telegraph.......................................................................

Insurance and fidelity bond premiums..............................................................

Subscriptions............................................................................................................

Equipment rental....................................................................................................

Repairs and alterations..........................................................................................

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

Miscellaneous...........................................................................................................

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

Less:

Inter-departmental expense transfers............................................................

Administrative expenses for the year ended December 31, 1949. . .

$ 119,866,878.57

25,122,803.19

470,261.94

16,355.55

$ 145,476,299.25

$ 431,429.23

5,994,766.44

95,945.90

$ 6,522,141.57

$ 138,954,157.68

$1,065,850,900.91

862,370.83

$1,064,988,530.08

$1,203,942,687.76

4,364,918.59

5,998.91

4,352.04

206,577.21

815,068.64

341,627.23

126,193.52

40,795.99

6,203.16

14,909.12

21,759.97

22,760.35

15,412.94

47,557.83

6,034,135.50

39,369.06

5,994,766.44

A summary statement of the income and expenses of the Corporation 

for each year since its organization is given in Table 11.

Assets and liabilities. From the beginning of deposit insurance to 

December 31, 1949, the Corporation disbursed $315 million to pay 

depositors in closed insured banks or to assist in the merger of banks 

in difficulty, thereby acquiring subrogated depositors’ claims or other 

assets from the closed banks. The Corporation has recovered $287 million 

from these assets. Additional recoveries are estimated at $3 million, and 

the Corporation’s losses at $25 million.

Of the total assets acquired from closed banks, the portion held by 

the Corporation at the close of 1948 had cost nearly $16 million. These 

assets were carried on the books of the Corporation at the amount of 

the estimated additional recovery, or appraised value, of $3 million.

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ORGANIZATION AND FINANCIAL STATEMENTS OF THE CORPORATION 19

T a b le 1 1 . Incom e an d E x p e n se s o f 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 S in ce B e g in n in g O p e r a tio n s1

(In millions)

Income Expenses

Net

income

added to

surplus

Year

Total

Deposit

insurance

assessments2

Investment

and other

income

Total

Deposit

insurance

losses and

expenses3

Administrative

expenses4

1933-1949............... $1,294.2 $1,024.2 $270.0 $90.3 $26.5 $63.8 $1,203.9

1949..................... 145.5 119.9 25.6 6.6 .5 6.1 138.9

1948s.................... 146.8 119.2 27.6 6.8 .7 6.1 140.0

1947..................... 157.7 114.4 43.3 5.6 .1 5.5 152.1

1946..................... 130.9 107.1 23.8 4.6 .1 4.5 126.3

1945..................... 121.2 93.7 27.5 4.0 .1 3.9 117.2

1944..................... 99.5 80.9 18.6 3.9 .1 3.8 95.6

1943..................... 86.7 70.0 16.7 4.5 .2 4.3 82.2

1942..................... 69.4 56.5 12.9 4.4 .5 3.9 65.0

1941..................... 62.0 51.4 10.6 4.3 .6 3.7 57.7

1940..................... 55.9 46.2 9.7 7.8 4.2 3.6 48.1

1939..................... 51.2 40.7 10.5 11.0 7.6 3.4 40.2

1938..................... 47.8 38.3 9.5 5.5 2.5 3.0 42.3

1937..................... 48.1 38.8 9.3 6.3 3.6 2.7 41.8

1936..................... 43.8 35.6 8.2 5.1 2.6 2.5 38.7

1935..................... 20.7 11.5 9.2 5.5 2.8 2.7 15.2

1933-34®............... 7.0 7.0 4.4 .3 4.17 2.6

1 Figures of total expenses, deposit insurance losses and expenses, and net income added to surplus

for years prior to 1949 differ from those shown in previous Annual Reports because of revisions in estimates of losses allocated to the different years.

2 Assessments collected from insured banks, members of the temporary insurance funds, were

credited to their accounts in total at the termination of the temporary funds, being applied toward

subsequent assessments under the permanent insurance fund, and resulting in no income to the Corporation from assessments for the term of the temporary insurance funds.

3 Includes nonrecoverable expenses in connection with payment of insured deposits of banks placed

in receivership. Total deposit insurance losses and expenses are therefore larger than the losses incurred

and reserve for losses, as given in note 1 to Table 12.

4 Includes furniture, fixtures, and equipment purchased and charged off.

5 Revised. Includes $0.7 million representing retroactive adjustment of administrative expenses

to take into the accounts for the first time the value of annual leave of employees which had accrued

through December 31, 1948.

6 Includes expenses from date of organization, September 11, 1933, to December 31, 1934.

7 After deducting portion of expenses and losses charged to banks withdrawing from the temporary

funds on June 30, 1934.

United States Government obligations held by the Corporation at 

the close of 1949 amounted to $1,207 million, valued at cost and accrued 

interest receivable. Cash amounted to $1.4 million and other assets to 

$0.2 million.

The capital of the Corporation at the close of 1949 consisted of its 

accumulated surplus, which amounted to $1,204 million, after repayment 

of its original capital. Pursuant to Public Laws 363 and 813, 80th Congress, approved August 5, 1947 and June 29, 1948, respectively, the 

Corporation has retired and cancelled all the capital stock originally 

issued to the United States and to the Federal Reserve banks. This 

retirement was completed on August 30, 1948.

A statement of the assets and liabilities of the Corporation at the 

beginning and end of 1949 is given in Table 12. A summary of the assets 

and liabilities of the Corporation at the close of each year since its organization is given in Table 13.

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20 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 12. A s s e t s an d L ia b ilit ie s o f 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 , D e c e m b e r 31, 1948, an d D e c e m b e r 31, 1949

Asset, liability, or capital item Dec. 31, 1949 Dec. 31, 1948

ASSETS

Assets acquired through suspensions and mergers:

Subrogated claims of depositors against closed insured banks.

Net balances of depositors in closed insured banks pending

settlement or not claimed, to be subrogated when paid—

contra................................................................................................

$ 4,901,991.92

21,449.60

3,618,214.64

7,100,358.45

44,080.44

$ 5,414,439.64

27,959.30

4,009,535.29

6,982,842.68

58,366.12

Loans to merging insured banks, to avert deposit insurance

losses, and recoverable liquidation expenses...........................

Assets purchased from merging insured banks, to avert deposit

insurance losses, under agreements to return any excess

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

Assets purchased from merging insured banks and receivers of

closed insured banks to avert deposit insurance losses.........

Total at face value....................................................

Less: Reserve for losses.....................................................................

$ 15,686,095.05

12,824,989.98

$ 16,493,143.03

12,896,663.08

Total at book value1.................................................

Cash on hand and on deposit.......................................................

United States Government obligations at cost (purchased

at face value) and accrued interest receivable...............

Due from Governmental agencies...............................................

$ 2,861,105.07

1,402,294.65

1,207,289,098.42

$ 3,596,479.95

2,285,883.81

1,066,056,021.46

147.68

4,324.06

1.00

84,244.10

Miscellaneous receivables................................................................

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

Deferred charges..................................................................................

1,708.42

1.00

169,286.66

Total assets.................................................................. $1,211,723,494.22 $1,072,027,102.06

LIABILITIES

Current liabilities:

Accrued annual leave of employees............................................... $ 857,056.95

472,353.19

476,117.72

21,449.60

5,152,339.57

790,000.00

11,489.43

$ ............

Accounts payable and assessment credits....................................

Earnest money deposits and collections in suspense.................

Net balances of depositors in closed insured banks pending

settlement or not claimed— contra............................................

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

367,325.01

438,398.16

27.959.30

4,530,476.37

790,000.00

22.042.31

Special reserve for undetermined losses in purchases of

assets from merging insured banks........................................

Reserve for deposit insurance expense......................................

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

CAPITAL

Surplus— (see Table 10)......................................................................

$ 7,780,806.46

$1,203,942,687.76

$ 6,176,201.15

$1,065,850,900.91

Total liabilities and capital.................................. $1,211,723,494.22 $1,072,027,102.06

1 Assets acquired through bank suspensions and mergers:

Disbursements (principal and recoverable liquidation expenses)................ $314,868,341.43

Recoveries.................................................................................................................. 287,060,807.98

Remaining assets................................................................................................. 27,807,533.45

Less: Losses incurred and reserves for losses.............................................. 24,946,428.38

Net book value, December 31, 1949............................................. $ 2,861,105.07

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ORGANIZATION AND FINANCIAL STATEMENTS OF THE CORPORATION 21

Table 13. A s s e t s an d L ia b ilit ie s o f 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 , 1934-1949

(Amounts in millions)

Dec. 31 Cash

u. s.

Government obligations

Insurance

assets

Other

assets

Total

assets

or liabilities

Liabilities

Capital

and

surplus

Total

deposits

in

insured

banks

Ratio—■

FDIC

capital and

surplus to

deposits in

insured

banks

1 9 4 9 .... $ 1.4 $1,207.3 $ 2.8 $.2 $1,211.7 $ 7.8 $1,203.9 $156,786.0 .77%

1948___ 2.3 1,066.0 3.6 .1 1,072.0 6.1 1,065.9 153,454.0 .69

1947___ 4.6 1,022.5 3.6 .1 1,030.8 24.7 1,006.1 154,095.6 .65

1946___ 7.3 1,047.7 5.6 J 1,060.7 2.2 1,058.5 148,457.0 .71

1 9 4 5 .... 15.7 900.0 15.1 .3 931.1 1.9 929.2 158,174.1 .59

1 9 4 4 .... 17.8 762.0 26.1 .3 806.2 1.9 804.3 134,662.1 .60

1 9 4 3 .... 20.0 638.8 46.2 .5 705.5 2.4 703.1 111,649.8 .63

1 9 4 2 .... 19.4 536.8 62.0 .5 618.7 1.8 616.9 89,868.7 .69

1 9 4 1 .... 20.0 453.9 81.7 .1 555.7 2.2 553.5 71,209.3 .78

1 9 4 0 .... 20.4 384.5 92.2 .1 497.2 1.2 496.0 65,287.4 .76

1939___ 28.3 363.5 64.2 .1 456.1 3.4 452.7 57,485.8 .79

1 9 3 8 .... 22.2 372.8 26.5 .1 421.6 1.1 420.5 50,790.2 .83

1 9 3 7 .... 20.6 348.5 16.1 .1 385.3 2.2 383.1 48,227.8 .79

1 9 3 6 .... 9.1 332.6 11.4 .1 353.2 9.8 343.4 50,280.9 .68

1 9 3 5 .... 33.5 298.2 5.4 .1 337.2 31.2 306.0 45,125.1 .68

1 9 3 4 .... 16.0 316.7 .5 .1 333.3 41.6 291.7 40,059.9 .73

Audit. The audit of the Corporation for the year ended June 30, 1949, 

was made under the direction of the Comptroller General of the United 

States. The financial statements from the audit report have been furnished to the Corporation by the Comptroller General and are given in 

Table 14. The auditors’ opinion is shown below.

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

WASHINGTON 25

August 17, 1950

Board of Directors,

Federal Deposit Insurance Corporation,

Washington 25, D. C.

Gentlemen:

An audit of the affairs of Federal Deposit Insurance Corporation for the fiscal 

year ended June 30, 1949, has been made by the General Accounting Office. The 

complete retirement on August 30, 1948, of the Government’s capital stock investment 

terminated application of the audit provisions of the Government Corporation Control 

Act (31 U.S.C. 841) at the end of the minimum accounting period involved. In view 

of your request, dated December 31, 1949, that the Comptroller General make an 

audit for the entire year ended June 30, 1949, and because of other practical considerations, it was determined that the minimum accounting period would be the 

entire fiscal year. However, our audit was limited by the fact that you did not make 

available to us the reports on the examination of insured banks and other records 

of the Examination Division. This situation did not exist in connection with our 

audits covering previous years. In view of the denial of access to the records of the 

Examination Division, the audit report for the fiscal year 1949 was not complete 

and necessarily contained qualifications as to the transactions and undertakings of

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22 FEDERAL DEPOSIT INSURANCE CORPORATION

the Examination Division and as to the financial position of the Corporation at 

June 30, 1949.

At your request, there are transmitted herewith, for inclusion in the Corporation's 

annual report, statements of financial position and operations, together with explanatory notes and the auditors’ opinion, all of which are included in the detailed 

report submitted by the Comptroller General to the Congress July 5, 1950.

Very truly yours,

L in d s a y C. W a r r e n

Comptroller General 

of the United States

a u d it o r s’ o p in io n

We have examined the balance sheet of Federal Deposit Insurance Corporation 

as of June 30, 1949, and the related statement of income and deposit insurance reserve 

for the year then ended, have reviewed the system of internal control and accounting 

procedures of the Corporation, and, without making a detailed audit of the transactions, have examined or tested accounting records and other supporting evidence, 

by methods and to the extent (except as noted below) we deemed appropriate. Our 

examination was made in accordance with generally accepted auditing standards 

and included all procedures which we considered necessary under the circumstances, 

except as to a review of the reports and records of the Examination Division of the 

Corporation.

We were not afforded access to the reports and records of the Examination Division 

covering examination of insured banks. We consider this to be so significant that we 

are unable to render an independent opinion as to the adequacy or inadequacy of the 

deposit insurance reserve to meet current needs.

However, in all other respects, in our opinion the accompanying balance sheet and 

the related statement of income (including explanatory notes) fairly present the 

financial position of Federal Deposit Insurance Corporation at June 30, 1949, 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, except that prior to the fiscal year 1949 no accrual for employees* annual leave 

had been provided.

St e p h e n B. I v e s

Director 

Corporation Audits Division 

General Accounting Office

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ORGANIZATION AND FINANCIAL STATEMENTS OF THE CORPORATION 23

Table 14. F in a n c ia l St a t e m e n t s of th e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a tio n— fr o m A u d it o r s’ R e p o r t fo r Y e a r E n d e d J u n e 30, 1949

Exhibit 1— B a l a n c e Sh e e t— J u n e 30, 1949

ASSETS

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

United States Government securities owned, at cost— market

value $1,138,449,988.........................................................................

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

Assets acquired through mergers and receiverships of

insured banks:

Subrogated claims of depositors against banks in receivership

(including $21,450 of pending and unpaid claims) (note 1)...

Equity in collateral assets (notes 2 and 4):

Under loan agreements.....................................................................

Under asset purchase agreements...................................................

Less estimate for losses and expenses................................................

Assets purchased outright (note 3)....................................................

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

Furniture, fixtures, and equipment, at nominal value.............

$1,133,789,500

2,301,258

4,927,354

3,721,484

7,812,178

16,461,016

12,894,154

3,566,862

80,072

$ 1,856,848

1,136,090,758

3,646,934

164,953

1

$1,141,759,494

LIABILITIES

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

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

Depositors’ claims pending settlement— contra...........................................................

Employees’ accrued annual leave......................................................................................

Deferred credits (note 4 )........................................................................................................

Deposit insurance reserve, representing cumulative earnings from inception to

June 30, 1949, available for future losses and related expenses (notes 5 and 8,

and exhibit 2)........................................................................................................................

383,795

503,620

21,450

894,247

4,953,166

1,135,003,216

$1,141,759,494

Notes 1 through 9 following exhibit 2 are an integral part of this statement.

Exhibit 2— St a t e m e n t o f I n c o m e a n d D e p o s it I n s u r a n c e R e s e r v e

fo r t h e Y e a r E n d e d Ju n e 30, 1949

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

Interest earned on Government securities..................................

Income from bank mergers and receiverships:

Interest and allowable return (note 4)..............................................

Net income from assets purchased outright (note 3)....................

Receivership supervision fees..............................................................

$ 1,461,265

39,948

6,191

$ 119,763,735

23,771,256

381,554

Less estimated loss on assets purchased under agreement cases

opened during the year.....................................................................

1,507,404

1,125,850

Total income.................................................................. 143,916,545

5,496,130Administrative and operating expenses........................................

Net income for the year transferred to deposit insurance

reserve.................................................................................................. 138,420,415

996,089,996

. 1,263,692

Deposit insurance reserve, June 30, 1948......................................

Net adjustment of prior years’ estimate of losses and expenses restored to reserve...........................................................

Less employees’ accrued annual leave earned in prior years

Deposit insurance reserve, June 30, 1949 (notes 5 and 8 and

exhibit 1)...............................................................................................

1,135,774,103

770,887

$1,135,003,216

Notes 1 through 9 following exhibit 2 are an integral part of this statement.

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24 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 14. F in a n c ia l St a t e m e n t s o f t h e F e d e r a l D e p o s it I n s u r a n c e

C o r p o r a tio n— fr o m A u d it o r s’ R e p o r t fo r Y e a r E n d e d

J u n e 30, 1949— Continued

NOTES TO THE FINANCIAL STATEMENTS— JUNE 30, 1949

1. Subrogated claims represent the amounts of insured deposits in closed banks paid to depositors

for which amounts the depositors transferred their claims against the bank receiverships to FDIC.

The balance of subrogated claims at June 30, 1949, represents claims paid and uncollected on seven

receiverships not terminated at that date. Any recoveries made on these claims are in the nature of

liquidating dividends paid by the receiverships from funds realized in disposition of bank assets.

At June 30, 1949, the Corporation was receiver for two closed insured banks, the remaining assets

of which, as evidenced in the records maintained by the Corporation, were undistributed cash of $97,006

and unliquidated assets having a book value of $472,694. The Corporation properly does not show in

its balance sheet the assets of these two closed insured banks for which it was receiver.

2. Loans to merged insured banks are supported by collateral and are evidenced by demand notes

bearing interest at the rate of 4 percent per annum on the principal and any subsequent amounts expended by the Corporation. Under this arrangement, notes are dishonored immediately by the closed

bank and the Corporation acquires and proceeds to liquidate the collateral assets until it has collected

the principal and any subsequent amounts expended plus interest. Any excess recoveries and residual

unliquidated assets are returned to the stockholders of the closed bank.

Assets purchased under agreements with merged insured banks are evidenced by purchase agreements allowing a return at the rate of 4 percent per annum on the principal purchase price and any

subsequent amounts expended by the Corporation. Under this arrangement the Corporation acquires

title to the assets, which it liquidates, returning any excess recoveries to the stockholders of the selling

bank.

3. Assets purchased outright represent collateral assets which have been purchased by the Corporation from receivership and merger cases in order to facilitate the termination of the liquidations.

These assets are the absolute property of the Corporation and are not subject to any agreements with

the closed banks from which the assets were originally obtained. The Corporation records a profit on

the sale of assets purchased outright when the total collections from sale of assets exceed the purchase

price and advances for the assets in a specific case. Losses, if any, are recorded when a specific case is

closed. Related dividends, rents, interest, and operating expenses are recorded by the Corporation on

a current basis.

4. The Corporation follows the practice of taking into income only such amounts of interest or

allowable return as are realized after recovery in full of its investments (including recoverable expenses)

in the respective loan and assets-purchased-under-agreement cases which have been closed. For those

cases not yet closed in which the Corporation has recovered in full its investment, the additional recoveries representing interest of $4,647,019 and allowable return of $292,088, a total of $4,939,107 at

June 30, 1949, are included in deferred credits.

5. Insured deposits in all banks at June 30, 1949, were estimated by the Corporation at approximately 73.2 billion dollars. The ratio of the deposit insurance reserve balance to the estimated insured

deposits was 1.6 percent.

As an added source of funds to supplement the reserve, the Corporation may, in accordance with

section 12B(o) of the Federal Reserve Act, borrow from the Treasury, on such terms as may be fixed

by the Corporation and the Secretary, such funds as in the judgment of the board of directors of the

Corporation are required from time to time for insurance purposes, not exceeding, in the aggregate,

3 billion dollars outstanding at any time. The Corporation has never used this borrowing power.

6. The original capital investment of the Corporation, amounting to $289,299,557, consisted of

nonvoting and non-dividend-bearing capital stock. The Treasury of the United States purchased

$150,000,000 of this stock, and the twelve Federal Reserve banks purchased the balance of $139,299,557

in amounts equal to one-half of their surplus on January 1, 1933.

The act of August 5, 1947 (12 U.S.C. 264 supp.), repealed section 12B(d) of the Federal Reserve

Act, pertaining to the capitalization of the Corporation, and directed the Corporation to retire its capital

stock by paying the amount received for it (whether received from the United States Treasury or the

Federal Reserve banks) to the Secretary of the Treasury. In accordance with the act, the Corporation

paid to the Secretary, periodically, as much of its capital and surplus as was in excess of $1,000,000,000.

Final settlement was made with the Treasury on August 30, 1948, completing the retirement of capital

stock.

7. By Executive Order 9148, dated April 27, 1942, the Corporation was assigned the responsibility

of supervising the operations of Federal credit unions. This activity was operated at a loss of $1,302,049

to July 29, 1948, including $24,780 for the period July 1-29, 1948. Pursuant to the act of June 29, 1948

(12 U.S.C. 1751a note), the administration of the Federal Credit Union Act was transferred to the

Federal Security Agency, effective July 29, 1948. In accordance with provisions of the law, the Corporation effected recovery on (1) the deficit of $1,302,049 resulting from FCU activities, and (2) the

unobligated FCU 1949 budget allocation of $624,668, which was transferred to the Bureau of Federal

Credit Unions, FSA, by deducting $1,926,717 from the final payment required to complete the retirement of the Corporation’s capital stock.

8. The Federal deposit insurance law (section 12B of the Federal Reserve Act) and other Federal

laws do not provide for Federal Deposit Insurance Corporation to pay certain costs incurred by other

Federal agencies for the benefit of the Corporation, and consequently such costs are not accounted for

in the Corporation’s financial statements. These costs include (1) Government’s share of the cost of

carrying out provisions of the civil service retirement acts applicable to the Corporation’s civil service

employees, (2) payment of claims by the Bureau of Employees’ Compensation and the related cost of

administration, and (3) interest cost on Government’s investment in capital stock.

The payment of interest on the Government’s investment from inception of the Corporation to

August 30, 1948 (date of final retirement of capital stock), would have a material effect on the balance

sheet and statement of deposit insurance reserve.

9. We did not inspect the collateral under loans to merged insured banks, the documents evidencing

ownership of assets purchased from merged insured banks and insured banks in receivership, or the

assets held by the Corporation as receiver of closed insured banks. The collateral and assets, for the most

part, are held by liquidating agents of the Corporation at various locations throughout the country.

We reviewed the reports of the Corporation’s internal auditors on their examination of such collateral

and assets; we consider their examination to be adequate.

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PART TWO

BANKING DEVELOPMENTS

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Banks and Branches

For many years the proportion of all banks participating in Federal 

deposit insurance has gradually increased. This trend continued in 1949. 

At the close of the year 93 percent of all banks of deposit in the United 

States and possessions were insured. These banks held 95 percent of 

total deposits of all banks.

Participation in deposit insurance by State. All banks regularly 

engaged in deposit banking were insured in nine States and the District 

of Columbia. Seven of the States were in the West—Arizona, Montana, 

Nevada, New Mexico, South Dakota, Utah, and Wyoming—and two 

in the East—Vermont and Virginia.

Participation in deposit insurance was virtually complete in many 

other States. In each of five States—Alabama, Idaho, Louisiana, New 

Jersey, and Oregon—there was only one noninsured bank of deposit at 

the end of 1949; in each of three States—California, Florida, and North 

Carolina—there were only two.1

The percentages of banks insured and deposits held by insured banks 

in each State are shown in Chart A. These compilations exclude trust 

companies not regularly engaged in deposit banking. The number and 

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

given in Table 15.

Table 15. N u m b er an d D e p o s its o f O p e r a tin g B a n k s in t h e U n ite d S t a t e s

an d P o sse ssio n s, D e c e m b e r 31, 1949

Type of bank and insurance status

Number of banks Deposits

Number Percentage

distribution

Amount

(in millions)

Percentage

distribution

All banks and trust companies— total. . . 14,736 100.0% $165,244 100.0%

Banks of deposit— total.............................. 14,665 100.0 165,168 100.0

Insured............................................................ 13,622 92.9 156,785 94.9

Noninsured..................................................... 1,043 7.1 8,383 5.1

Commercial banks........................................ 14,134 100.0 145,875 100.0

Insured............................................................ 13,430 95.0 143,194 98.2

Noninsured..................................................... 704 5.0 2,681 1.8

Mutual sayings banks................................. 531 100.0 19,293 100.0

Insured............................................................ 192 36.2 13,591 70.4

Noninsured..................................................... 339 63.8 5,702 29.6

Trust companies not regularly engaged

in deposit banking............................... 71 100.0 76i 100.0

Insured............................................................ 6 8.5 1 0.8

Noninsured..................................................... 65 91.5 75 99.2

i Uninvested trust funds and special accounts.

Detailed data: see Table 103, pp. 136-37.

1 The remaining noninsured bank in Alabama was admitted to insurance in 1950.

27

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28 FEDERAL DEPOSIT INSURANCE CORPORATION

Chart A. D e p o s it In s u r a n c e C o v e r a g e

BANKS OF DEPOSIT, DECEMBER 31, 1949

PERCENTAGE OF BANKS INSURED

M 718 % * LESS 

E / f j 7 0.1 % -30.8% 

g jj 80.1% -9 9.8 %

| | 188.8%

UNITED STATES AVERAGE SJ.1 *

DEPOSITS OF INSURED BANKS AS A PERCENTAGE OF DEPOSITS OF AIL BANKS

78.8% ir LESS 

78 .1 % -88.8%

HI 9 8.1% -8 9.9%

I I 188.8%

UNITED STATES AVERAGE 85.3%

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BANKS AND BRANCHES 29

In five States—Maine, New Hampshire, Massachusetts, Rhode Island, 

and Connecticut—deposits of insured banks amounted to less than 

two-thirds of total deposits in each State. The low percentage of deposits 

in insured banks in New England primarily reflects the prevalence in 

that area of mutual savings banks not participating in deposit insurance.

Rhode Island and North Dakota were the only States where noninsured commercial banks had more than 10 percent of total bank 

deposits. Deposits of the noninsured commercial banks in each of these 

States were held by only five banks. In North Dakota, a bank owned by 

the State accounted for a large portion of the deposits of noninsured banks.

Changes in the number of banks and branches. The trend 

toward branch banking continued during 1949. Branches opened for 

business accounted for all of the net growth in the number of banking 

offices during 1949. The number of all operating banks declined by 17 

while the number of branches increased by 251. The total number of 

banking offices increased during the year by about 1 percent, as in each 

of the two previous years. Changes in the number of banks and branches 

during 1949 are given in Table 101, pages 126-27.

A s s e t s , D e p o s it s , a n d C a p it a l A c c o u n t s

Assets and liabilities of all operating banks. Total assets of all 

banks in the United States and possessions contracted $4 billion during 

the first half of 1949. During the second half of the year they expanded 

by $8 billion to reach an all-time peak of $180 billion. The net change 

in total assets for the year as a whole was a moderate growth of $4 billion, 

or 3 percent.

Expansion of earning assets accounted for all of the 1949 growth in 

bank assets. Non-earning assets declined both absolutely and relatively. 

Total cash and funds due from banks were reduced $3 billion during the 

year, as reserve requirements were successively lowered between May 1 

and September 1. Reserves with Federal Reserve banks dropped $4 

billion. Small increases in balances with other banks and in cash items 

in the process of collection offset part of this decline.

Most of the earning assets acquired by banks consisted of securities. 

Holdings of United States Government obligations expanded $4 billion 

to a total of $79 billion, and investments in obligations of States and 

political subdivisions rose $1 billion to nearly $7 billion. Total loans and 

discounts also expanded, reaching almost $50 billion at the year end.

As a result of these changes, cash and funds due from banks declined 

in 1949 from 23 percent to 20 percent of total assets. United States 

Government obligations increased from 42 percent to 44 percent relative 

to total assets. The relative amount of loans remained at 28 percent.

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30 FEDERAL DEPOSIT INSURANCE CORPORATION

Changes in the composition of bank assets in 1949 contrasted sharply 

with earlier postwar developments. For the four-year period 1945 to 

1949 the amount of United States Government obligations held declined 

substantially, while loans and securities other than United States Government obligations expanded rapidly. Cash and reserves accounted for 

approximately the same proportion of total assets on December 31, 1945, 

and December 31, 1949.

Data showing the amount and percentage distribution of bank assets 

and liabilities at the close of 1949, 1948, and 1945 are presented in Table 

16.

Table 16. A s s e ts an d L ia b ilit ie s o f A l l B a n k s in t h e U n ite d S t a t e s an d

P o sse ssio n s, D e c e m b e r 31, 1949, 1948 an d 1945

Asset, liability, or capital

account item

Amount (in millions) Percentage distribution

Dec. 31,

1949

Dec. 31,

1948

Dec. 31,

1945

Dec. 31,

1949

Dec. 31,

1948

Dec. 31,

1945

Total assets................................................. $180,043 $176,075 $178,203 100.0% 100.0% 100.0%

Cash and funds due from banks........... 36,676 39,635 35,585 20.4 22.5 20.0

United States Government obligations. 78,754 74,462 101,822 43.7 42.3 57.1

Obligations of States and political

subdivisions........................................... 6,657 5,754 4,064 3.7 3.3 2.3

Other securities......................................... 6,025 5,717 4,531 3.3 3.2 2.5

Loans and discounts— net...................... 49,828 48,453 30,473 27.7 27.5 17.1

Miscellaneous assets................................ 2,103 2,054 1,728 1.2 1.2 1.0

Total liabilities and capital accounts 180,043 176,075 178,203 100.0 100.0 100.0

Total deposits............................................ 165,244 162,041 166,474 91.8 92.0 93.4

Miscellaneous liabilities.......................... 1,633 1,480 1,203 0.9 0.9 0.7

Total capital accounts............................. 13,166 12,554 10,526 7.3 7.1 5.9

Number of banks1........................................ 14,736 14,753 14,725

1 Asset and liability data were not available for 31 banks on December 31,1949, 18 banks on December 31, 1948, and 104 banks on December 31, 1945.

Detailed data for 19U9: see Tables 104-106, pp. 140-145.

Changes in total deposits of all banks during 1949 were similar to 

changes in total assets. After a decline of nearly $5 billion early in the 

year, an expansion of $8 billion brought total deposits to $165 billion 

at the year end. This represented a net growth of 2 percent for the entire 

year, but was still $1 billion below the record total set in 1945.

Total capital accounts of all operating banks continued to grow, 

exceeding $13 billion on December 31, 1949. Since December 31, 1945, 

the growth of bank capital has been greater than the expansion of total 

assets. Accordingly, the capital ratio has improved from 5.9 percent to 

7.3 percent of total assets.

Postwar changes in deposits. While total deposits declined after

1945, business and personal deposits rose. Demand deposits of businesses 

and individuals have risen from $74 billion to $83 billion between 1945 

and 1949. This expansion has been successively interrupted during the

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ASSETS, DEPOSITS, AND CAPITAL ACCOUNTS 31

first six months of 1947, 1948, and 1949, but in each year substantial 

recovery has followed. Savings and time deposits of businesses and 

individuals have grown throughout the period from $45 billion to more 

than $54 billion. Deposits of States and their political subdivisions have 

also grown continuously, reaching $9 billion at the close of 1949. Postwar 

data for the principal types of deposits are given in Table 17.

Table 17. D e p o s its o f A l l B a n k s in t h e U n ite d S t a t e s an d P o sse ssio n s,

b y T y p e o f D e p o s it, J u n e an d D e c e m b e r, 1945-1949

(In millions)

Call dates Total

deposits

Business and personal

States

and

subdivisions

U. S.

Gov’t

Interbank1

Total Demand Time

Certified

checks,

etc.

Dec. 31, 1949...............

June 30, 1949...............

Dec. 31, 1948...............

June 30, 1948...............

Dec. 31,1947...............

June 30, 1947...............

Dec. 31, 1946...............

June 29,1946...............

Dec. 31,1945...............

$165,244

157,239

162,041

157,177

162,729

154,191

156,753

159,990

166,474

$140,241

135,003

138,674

134,961

140,357

133,475

133,956

127,469

121,776

$83,454

78,399

83,167

79,723

85,303

79,551

81,276

76,693

73,876

$54,416

54,216

53,355

53,181

52,454

51,775

50.284

48,423

45.285

$2,371

2,388

2,152

2,057

2,600

2,149

2,396

2,353

2,615

$8,956

8,912

8,561

8,511

7,788

7,520

6,895

6,619

5,786

$ 3,318

2,373

2,515

2,249

1,534

1,423

3,164

13,515

24,770

$12,729

10,951

12,291

11,456

13,050

11,773

12,738

12,387

14,142

1 Includes postal savings deposits; prior to Dec. 31, 1947, includes unclassified deposits.

The abnormally large wartime deposit balance of the United States 

Government was reduced from a total of $25 billion to $3 billion during

1946. Since that time it has fluctuated between $1.5 billion and $3 billion. 

Interbank deposits also declined in 1946 and have shown little growth 

since then. Seasonal fluctuations of interbank deposits have roughly 

paralleled those of business and personal demand deposits.

Business and personal deposits provide a better basis than total 

deposits for analysis of regional economic developments. Between 1945 

and 1949 business and personal deposits expanded by 15 percent. Changes 

in these deposits are shown by State in Chart B. All States participated 

in this expansion. States with the largest relative growth include North 

and South Dakota, Illinois, and Texas, and most other States in the 

Middle West and Southwest. Deposit expansion was smallest in Washington, Oregon, and Alabama, and was typically smaller than average in 

the Far West and Southeast.

Postwar changes in loans. The rapid postwar expansion of bank 

loans moderated substantially during 1949. Commercial and industrial 

loans outstanding declined by about $2 billion during the year. Real 

estate, consumer, and other types of loans expanded, however, so that 

all loans showed a net expansion of about 1 percent during 1949, compared 

with 12 percent during 1948.

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32 FEDERAL DEPOSIT INSURANCE CORPORATION

Chart B. P e r c e n ta g e E x p a n sio n o f B u sin e ss an d P e r s o n a l D e p o s its

ALL BANKS, DECEMBER 31, 1945-1949

Total bank loans, amounting to $50 billion at the close of 1949, were 

approximately $20 billion above the total outstanding shortly after the 

war ended. Banks in all States shared in this growth, but loan expansion 

has been particularly rapid in States west of the Mississippi. In contrast, 

the aggregate expansion of loans lagged behind the rest of the country 

in New York, Massachusetts, and Illinois, where the large financial 

centers of the country are located. Postwar changes in total loans of all 

banks, by States, are shown in Chart C.

Marked changes have occurred in the composition of bank loans since 

1945. At the close of 1945 commercial and industrial loans accounted 

for about one-third of all loans. This proportion rose to 42 percent at 

the end of 1947 but declined again during 1948 and 1949. Loans for 

purchasing or carrying securities dropped from 22 percent to 5 percent 

of all loans during 1946 and 1947, remaining at about the same proportion 

during 1948 and 1949. These two groups of loans are the principal types 

granted by large banks in the financial centers of the country.

Real estate loans, on the other hand, have grown from 30 percent to 

36 percent of all loans between 1945 and 1949. Other loans to individuals 

have risen from 8 percent to 16 percent of the total. Agricultural loans 

have also increased more than proportionately, but not as spectacularly 

as real estate or consumer loans. These three groups of loans are relatively important in the portfolios of banks outside financial centers.

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C h a r t C . P e r c e n t a g e E x p a n s io n o f T o t a l L o a n s

ALL BANKS, DECEMBER 31, 1945-1949

ASSETS, DEPOSITS, AND CAPITAL ACCOUNTS 33

The distribution of loans of all banks by principal type of loan at the 

close of each year since 1945 is given in Table 18. Table 19 shows the 

amount of agricultural and real estate loans, by type, during the same 

period.

T a b le 18. P r in c ip a l T y p e s o f L o a n s o f A l l B a n k s i n t h e U n it e d St a t e s a n d

P o ss e s s io n s, D e c e m b e r 31, 1945-1949

Dec. 31

All

loans,

net

Commercial

and

industrial

Agricultural

(excluding

real estate)

Real

estate

For purchasing or

carrying

securities

Other

loans

to individuals

All

other

Amount

(in millions)

19491............ $49,828 $17,195 $3,075 $18,350 $2,658 $8,159 $1,178

19481.................... 48,453 19,055 2,893 16,704 2,332 6,960 1,147

1947..................... 43,231 18,295 1,678 14,302 2,075 5,791 1,090

19462.................... 35,823 14,237 1,412 11,675 3,164 4,109 1,226

19452.................... 30,467 9,600 1,361 8,980 6,827 2,419 1,280

Percentage

distribution

19491.................... 100.0% 34.0% 6.1% 36.3% 5.2% 16.1% 2.3%

19481.................... 100.0 38.8 5.9 34.0 4.8 14.2 2.3

1947..................... 100.0 42.3 3.9 33.1 4.8 13.4 2.5

1946..................... 100.0 39.8 3.9 32.6 8.8 11.5 3.4

1945..................... 100.0 31.5 4.5 29.5 22.4 7.9 4.2

1 Individual loan items reported gross; valuation reserves for all loans amounted to $787 million

in 1949 and $638 million in 1948.

2 Data from Annual Report of the Comptroller of the Currency.

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31 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 19. A g r ic u l t u r a l a n d R e a l E s ta t e L o a n s o f A l l B a n k s in th e

U n it e d Sta t e s a n d P o sse ssio n s, D e c e m b e r 31, 1945-1949

(In millions)

Dec. 31

Agricultural

(excluding real estate) Real estate loans

Total

Directly

guaranteed

by CCC

Other Total On farm

land

On

residential

properties

Other

1949......................... $3,075 $1,004 $2,071 $18,350 $946 $14,245 $3,159

1948......................... 2,893 915 1,978 16,704 912 12,820 2,972

1947......................... 1,678 68 1,610 14,302 850 10,869 2,583

19461........................ 1,412 105 1,307 11,675 710 9,542 1,423

19451........................ 1,361 308 1,053 8,980 529 7,560 891

1 Data from Annual Report of the Comptroller of the Currency.

At the end of 1949 real estate loans constituted the largest category 

of loans. Loans on residential properties constitute the largest part of real 

estate loans of all banks. This segment has expanded more rapidly 

than loans on farm land. Loans on farm land have risen by less than 

one-half billion dollars since 1945, loans on residential properties nearly 

$7 billion. The relatively small growth of loans on farm land contrasts 

sharply with developments during the real estate boom associated with 

World War I.

A substantial portion of the real estate loans held by banks is guaranteed or insured by agencies of the Federal Government. Some idea 

of the relative amount of guaranteed or insured real estate loans held by 

banks can be gained from data published by agencies conducting these 

programs. These data, however, are not entirely comparable with banking 

data showing the total amount of real estate loans held by banks. Estimates of the amounts of real estate and other loans guaranteed or insured 

by agencies of the United States Government and held by commercial 

banks on December 31, 1947, 1948, and 1949, are presented in Table 20.

The most rapid expansion of any principal type of loan during the 

postwar period has occurred in the group of loans called “ other loans 

to individuals.” Since most of these loans were made for the purpose of 

purchasing consumer goods, the entire group has been frequently referred 

to as “ consumer loans.” The main classification, however, has been 

according to terms of payment rather than purpose. This has posed a 

serious problem in the case of single payment loans to individuals. Many 

of these loans were too large to be considered as consumer loans. Accordingly, for December 31, 1949, insured commercial banks reported 

single payment loans larger than $3,000 separately from those below 

$3,000. On that date, single payment loans above $3,000 aggregated 

$2 billion. Loans classified as “ other loans to individuals” amounted 

to $8 billion, and “ consumer loans” by insured commercial banks are 

therefore estimated at $6 billion.

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Table 20. E s t im a t e s o f C o m m e r c ia l B a n k L o a n s G u a r a n t e e d or

I n s u r e d b y A g e n c ie s o f th e U n it e d St a t e s G o v e r n m e n t ,

D e c e m b e r 31, 1947-1949

(In millions)

Type of loan and guarantor agency

Total guaranteed

in whole or in part Guaranteed portion

1949 1948 1947 1949 1948 1947

All types.............................................................. $8,114 $7,124 $5,283r $5,857 $5,023 $3,512

Real estate— total1.......................................... 5,752 4,935 3,851 4,232 3,517 2,711

Federal Housing Administration................ 2,841 2,240 1,801 2,828 2,230 1,786

Veterans Administration2.............................. 2,911 2,695 2,050 1,404 1,287 925

Business loans— total.................................... 544 593 788 386 427 573

Veterans Administration2.............................. 127 140 183 48 56 71

Reconstruction Finance Corporation......... 315 328 409 236 246 307

Export-Import Bank...................................... 100 122 187 100 122 187

Federal Reserr2 13B3..................................... 2 3 9 2 3 8

Farm loans— total.......................................... 1,126 956 134 1,064 919 98

Veterans Administration2............................. 115 66 68 53 30 32

Commodity Credit Corporation................. 1,004 887 66 1,004 887 66

Farmer’s Home Administration.................. 7 3 7 2

Consumer loans— total5................................ 692 640 510 175 160 130

Federal Housing Administration................ 692 640 510 175 160 130

1 Excludes farm real estate mortgage loans which are shown under farm loans.

2 Amortization estimated.

3 Includes loans approximating $1 million in 1948 and $2 million in 1947 which were guaranteed by

war agencies under Regulation V of the Board of Governors of the Federal Reserve System.

4 Less than $500,000.

6 Includes a small amount of Title I loans made by mutual savings banks not available separately,

r Revised.

N ote: Based on records and estimates of guarantor agencies.

The series for other loans to individuals by insured commercial banks, 

by type, from 1945 to 1949 is presented in Table 21. This information is 

available only for insured commercial banks.

Table 21. O t h e r L o a n s to I n d iv id u a l s (C o n s u m e r 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 , D e c e m b e r 31, 1945-1949

(In millions)

Dec. 31 Total

Instalment loans Single payment

Retail

automobile

Other

retail

Repair

and

modernization

Cash Below

$3,000

Above

$3,000

1949......................... $8,007 $1,955 $1,023 $923 $1,170 $933 $2,003

1948......................... 6,807 1,435 797 729 1,080 $2,766

1947......................... 5,656 966 551 558 944 2,637

1946......................... 4,030 514 328 311 675 2,202

1945......................... 2,361 225 $2£66 398 1,472

Maturities of investments in United States Government obligations. The average length of time to maturity of United States Government obligations held by insured commercial banks was considerably 

shortened during 1949. Holdings of Treasury bills, certificates, and 

notes rose from $16 billion to $22 billion during the year. These acquisiDigitized for FRASER 

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36 FEDERAL DEPOSIT INSURANCE CORPORATION

tions reflected primarily refunding operations by the Treasury. Even 

though purchases of Treasury bonds were substantial, investments in 

these bonds declined from $45 billion to $44 billion in 1949, as maturing 

bonds were refunded into short-term issues.

The amount of bonds moving into the category of issues maturing 

in 5 years or less during 1949 was considerably greater than the amount 

of bonds refunded. This, together with net purchases, raised the proportion of bonds maturing in five years or less from 32 percent to 41 percent 

of total investments in United States Government securities. The amount 

and percentage distribution by type and maturity of United States 

Government obligations held by insured commercial banks during the 

period 1941 to 1949 is given in Table 22.

T a b le 2 2 . M a t u r it ie s o f U n it e d St a t e s G o v e r n m e n t O b l ig a t io n s H e ld

b y I n s u r e d C o m m e r c ia l B a n k s , D e c e m b e r 31, 1941-1949

Marketable issues

Year

end

Direct NonTotal

Certificates1

Bonds maturing in:2 Guaranteed

issues

marketable

issues3

Bills1 Notes1

5 years

or less

5 to 10

years

10 to 20

years

20 years

or more

Amoi

1949

int (in mi

$65,847

illions):

$3,692 $12,488 $ 5,812 $27,278 $ 7,692 $4,461 $2,409 $ 6 $2,009

1948 61,407 2,822 10,068 3,395 19,374 15,114

22,202

6,581 2,059 8 1,986

1947 67,960 2,124 7,555 5,920 18,341 7,534 2,654 14 1,616

1946 73,575 1,272 12,293 6,781 12,728 29,700 6,597 3,008 15 1,181

1945 88,933 2,456 19,075 16,047 9,030 32,230 6,092 2,787 22 1,194

1944 75,896 3,972 15,303 15,781 5,918 25,467 5,796 1,917 978 764

1943 58,693 4,637 13,220 7,673 5,790 16,776 6,160 1,620 2,501 316

1942 40,712 4,462 6,729 5,800

3,159

2,865 10,047 6,470

5,930

1,337 2,718 284

1941 21,047 988 1,551 3,970 1,347 4,102 (3)

Perce

distri

1949

ntage

bution

100.0% 5.6% 19.0% 8.8% 41.4% 11.7% 6.8% 3.6% (4) 3.1%

1948 100.0 4.6 16.4 5.5 31.6 24.6 10.7 3.4 (4) 3.2

1947 100.0 3.1 11.1 8.7 27.0 32.7 11.1 3.9 (4) 2.4

1946 100.0 1.7 16.7 9.2 17.3 40.4 9.0 4.1 (4) 1.6

1945 100.0 2.8 21.5 18.0 10.2 36.2 6.9 3.1 (4) 1.3

1944 100.0 5.2 20.2 20.8 7.8 33.6 7.6 2.5 1.3 1.0

1943 100.0 7.9 22.5 13.0 9.9 28.6 10.5 2.8 4.3 0.5

1942 100.0 11.0 16.5 14.2 7.0 24.7 15.9 3.3 6.7 0.7

1941 100.0 4.7 15.0 7.4 18.8 28.2 6.4 19.5 (3)

1 Treasury bills are generally issued with maturities of 91 days; certificates of indebtedness have

maturities of approximately one year; and Treasury notes are issued with maturities of from one to

five years.

2 Based upon number of years to final maturity.

3 United States savings bonds, Treasury bonds (investment series A-1965), and depositary bonds.

Prior to December 31, 1947, this item included United States savings bonds only; depositary bonds

were included with other United States bonds according to maturity. Non-marketable issues were not

reported separately on December 31, 1941.

< Less than 0.05 percent.

Capital accounts of commercial banks. Total capital accounts 

of all commercial banks rose during 1949 to $11 billion at the year end. 

Successive increases in commercial bank capital in each postwar year 

have brought the total to a point more than $2 billion above the figure

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ASSETS, DEPOSITS, AND CAPITAL ACCOUNTS 37

reported on December 31, 1945. Net additions to common stock, including stock dividends, totaled $528 million during this period.

Table 23. C a p it a l A c c o u n t s o f A l l C o m m e r c ia l B a n k s in th e

U n it e d S t a t e s a n d P o s s e s s io n s, D e c e m b e r 31, 1945-1949

Dec. 31

Amount (in millions) Ratio of total

capital accounts to:

Total

capital

accounts

Common

stock

Preferred

stock,

capital

notes,

and debentures

Surplus

Undivided

profits

and

reserves

Total

assets

Assets

other than

cash and

u. s.

Gov’t

obligations

1949......................... $11,044 $3,431 $113 $4,948 $2,552 7.0% 19.9%

1948......................... 10,555 3,296 122 4,646 2,491 6.8 19.6

1947......................... 10,107 3,192 145 4,450 2,320 6.5 20.6

1946......................... 9,561 3,068i 1751 4,155 2,163 6.4 23.4

1945......................... 8,933 2,903i 2271 3,873 1,930 5.5 25.5

1 Partly estimated.

Book values of capital accounts and capital ratios of all commercial 

banks for December 31, 1945 to 1949, are given in Table 23. The distribution of insured commercial banks according to their ratio of total 

capital accounts to total assets on December 31, 1949, is shown in Chart 

D. Insured commercial banks had 98 percent of total assets and 97 

percent of total capital accounts of all commercial banks.

Chart D. B a n k s G r o u p e d b y R a t io 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

in s u r e d COMMERCIAL BANKS, DECEMBER 31, 1949

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38 FEDERAL DEPOSIT INSURANCE CORPORATION

The average ratio of total capital accounts to total assets of all commercial banks has increased from 5.5 percent on December 31, 1945, to 

7.0 percent on December 31, 1949. During the same period, the ratio 

of total capital accounts to assets other than cash and United States 

Government obligations has dropped from 25.5 percent to 19.9 percent.

The majority of insured commercial banks had capital ratios within 

a few percentage points above or below the average of 6.9 percent for 

all insured commercial banks. There were, however, 354 banks with 

capital ratios below 4 percent. Another 1,193 banks had ratios from

4 percent to 4.9 percent. In other words, approximately 12 percent of 

the 13,436 insured commercial banks had capital ratios below 5 percent. 

At the other extreme, 2,011 banks, or 15 percent of the total, had capital 

ratios of 10 percent or more.

Further progress has been made toward retirement of the remaining 

preferred stock and other Reconstruction Finance Corporation investments remaining in bank capital. From 1945 to the end of 1949 the total 

book value of preferred stocks, capital notes, and debentures of all 

commercial banks was reduced from $227 million to $113 million. The 

retirable value of the amount outstanding at the end of 1949 was $175 

million. The greater part of these accounts represents Reconstruction 

Finance Corporation investments. As successive reductions were made, 

however, two obstacles to early completion of the program became more 

apparent: concentration in a few banks of the remaining amounts outstanding, and the relatively low capital ratios of some of these banks.

Examiners’ appaisal of assets, liabilities, and capital, insured

commercial banks. One of the major tasks in the examination of a 

bank is a review of the value of its assets, liabilities, and capital accounts. 

In appraising assets examiners deduct from the value shown on the 

bank’s books those which appear to be uncollectible and take into account 

the value of assets which are not on the books. In recent years there has 

been very little difference between the value of the assets of insured 

commercial banks as carried on their own books and as appraised by 

examiners. For each of the past five years, the examiners’ appraisal has 

been about 1/100 of 1 percent below the book value. Ten years ago, the 

examiners’ appraisal was 1/2 of 1 percent below the book value.

Examiners also classify some of the assets held by the banks as substandard. These are assets which are believed to be unusually risky or 

for other reasons are not suitable for ownership by the banks. During 

1949 there was a small decline in the percentage of assets, included in 

the examiners’ appraisal value, classified as substandard by bank examiners. This reduction of substandard assets was relatively evenly 

distributed between loans and securities. During 1947 and 1948 the 

proportion of substandard assets had turned upward.

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With continued growth in total capital accounts and reduction in the 

amount of substandard assets, the ratio of substandard assets to adjusted 

capital accounts was considerably improved in 1949. Substandard assets 

declined from $8.00 per $100 of total capital accounts in 1948 to $7.32 

per $100 in 1949.

Amounts and percentages of substandard assets of insured commercial 

banks are given in Table 24 for each year from 1939 to 1949.

T a b le 2 4 . S u b s t a n d a r d 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

E x a m in a t io n s 1939 to 1949

Substandard assets Substandard

loans

Substandard

securities1

Substandard

fixed and

miscellaneous

assets

Year Percentage of

Percentage

of total

loans

PerPercentage

Amount

(in

millions)2 Total

assets

Total

capital

accounts

Amount

(in

millions)

Amount

(in

millions)

centage

of total

other

securities

Amount

(in

millions)

of total

fixed

and

miscellaneous

assets

1949................... $ 762 0.51% 7.32% $ 515 1.26% $ 200 2.22% $ 47 1.65%

1948................... 788 0.53 8.00 533 1.35 211 2.51 44 1.51

1947................... 696 0.48 7.42 422 1.28 231 2.92 44 1.67

1946................... 526 0.36 6.02 (3) (3) (3) (3) (3) (3)

1945................... 619 0.45 7.58 263 1.23 259 4.17 97 4.07

1944................... 825 0.69 10.92 359 1.84 302 5.20 164 7.02

1943................... 1,260 1.24 17.84 541 2.96 462 7.65 257 11.45

1942................... 1,714 2.13 25.26 768 3.83 617 9.28 329 15.13

1941................... 2,031 2.84 31.12 849 4.36 753 429 19.10

1940................... 2,552 3.93 40.35 1,054

1,229

6.23 1,039

1,207

460 22.60

1939................... 2,970 5.12 48.21 7.73 535 24.55

1 Amounts and percentages both refer to securities other than U. S. Government obligations.

Prior to 1942 no segregation was made between U. S. Government obligations and other securities.

2 Components do not necessarily add to the total because of rounding.

8 Data not available separately.

Detailed data for 19U1 to 19^9: see Table 108, pp. 152-53.

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

Net profits after taxes of insured commercial banks turned upward 

again in 1949 to exceed the levels of the two preceding years, and were 

only 8 percent below the record 1945 level. Nearly three-fifths of these 

net profits were retained in capital accounts. At the same time dividend 

payments to stockholders increased to the highest rate since 1941.

The major sources of income of insured commercial banks and the 

disposition of this income in 1949 are shown in Chart E. Most of the 

income was derived from current operating earnings; the remainder 

resulted from profits on the sale of securities, recoveries on assets previously charged off, and transfers from reserve accounts. About fourfifths of this income went for current expenses, reserves and charge-offs 

for losses, and income taxes; one-fifth remained as net profits.

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40 FEDERAL DEPOSIT INSURANCE CORPORATION

Chart E. S o u r c e s an d D isp o sitio n o f T o t a l Incom e

in su re d co m m ercia l b a n k s, 1949

SOURCES DISPOSITION

The sources and disposition of total income of insured commercial 

banks from 1945 to 1949 are summarized in Table 25.

Table 25. S o u rc e s an d D isp o sitio n o f T o t a l Incom e

In su r e d C o m m erc ia l B a n k s, 1945 t o 1949

(In millions)

1949 1948 1947 1946 1945

Total incom e........................................................................ $3,820 $3,670 $3,360 $3,271 $2,992

Sources

Loans.................................................................................... 1,760 1,600 1,282 951 727

U. S. Government obligations........................................ 1,013 1,008 1,080 1,219 1,133

Other securities.................................................................. 202 190 179 177 167

Service charges (on deposit accounts).......................... 194 174 148 125 110

Other current earnings.....................................................

Recoveries (including transfers from reserve accounts

438 432 409 390 346

and profits on sale of securities)................................ 213 266 262 409 509

Disposition

Salaries and wages............................................................. 1,111 1,044 947 831 691

Interest on deposits........................................................... 328 317 298 269 233

FDIC assessment............................................................... 109 109 105 98 86

Other current expenses.....................................................

Charge-offs (including losses and transfers to reserve

736 694 633 565 513

accounts)........................................................................ 380 486 294 283 264

Income taxes....................................................................... 325 275 302 323 299

Net profits (after taxes)................................................... 831 745 781 902 906

Detailed data: See Table 111, pp. 160-61.

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EARNINGS OF INSURED COMMERCIAL BANKS 41

Total current operating earnings. In 1949 current operating 

earnings totaled $3,607 million. This was larger than in any previous 

year and represented an increase of 6 percent over 1948. A summary of 

earnings, expense, and profit data of insured commercial banks for each 

year since 1934 is given in Table 26.

T a b le 2 6 . E a r n in g s, E x p e n s e s , a n d P r o f its o f I n s u r e d C o m m e r c ia l B a n k s ,

1934-1949

(In millions)

Year

Total

current

operating

earnings

Total

current

operating

expenses1

Net

current

operating

earnings1

Chargeoffs in

excess of

recoveries

and profits

^on assets

sold2

Income

taxes3

Net

profits

after

taxes

Cash

dividends

declared

and

interest

paid on

capital

Net

profits

retained

in

capital

accounts

1949.. $3,607 $2,284 $1,323 $167 $325 $831 $354 $477

1948.. 3,404 2,164 1,240 219 276 745 332 413

1947.. 3,098 1,982 1,116 32 302 782 315 467

1946.. 2,863 1,763 1,100 1264 323 903 299 604

1945.. 2,482 1,523 959 299 . 905 274 631

1944.. 2,215 1,357 858 964 203 751 253 498

1943.. 1,959 1,256 703 624 128 637 233 404

1942.. 1,790 1,222 568 48 79 441 228 213

1941.. 1,730 1,216 514 9 50 455 253 202

1940.. 1,631 1,170 461 37 23 401 237 164

1939.. 1,605 1,148 457 57 12 388 232 156

1938.. 1,584 1,148 436 126 10 300 222 78

1937.. 1,634 1,156 478 86 11 381 226 155

1936.. 1,567 1,114 453 83* 12 524 223 301

1935.. 1,486 1,078 408 195 5 208 208

1934.. 1,518 1,114 404 741 3 -3405 188 .........-5285

1 Figures for 1934-1941 are estimates and differ from reported figures by the amount of estimated

income taxes excluded from total current operating expenses. See note 3.

2 Book value of assets charged off, and transfers to valuation reserves, minus recoveries on assets

previously charged off, transfers from valuation reserves, and profits on assets sold.

3 Includes surtax and excess profits tax. Figures for 1934-1941 are estimates, based upon Bureau

of Internal Revenue figures of income taxes paid by national banks for 1934-1937, and paid by “all

banks and trust companies” for 1938-1941. Income taxes have been reported separately since 1936 for

insured banks not members of the Federal Reserve System, and since 1942 for banks members of the

Federal Reserve System.

4 Recoveries and profits on assets sold in excess of charge-offs.

5 Net loss.

Detailed data for 19U1 to 13U9: see Table 111, pp. 160-61.

Income from loans contributed almost half of total current operating 

earnings in 1949. This source of income has risen steadily in importance 

since 1945, when it constituted only 29 percent of current earnings. The 

10 percent increase in income on loans in 1949 followed a 25 percent 

growth in 1948, a 35 percent advance in 1947, and a 31 percent increase 

in 1946. While the rate of increase has tapered off in recent years, it is 

still fairly high.

The record $1,760 million income from loans in 1949 was almost 

2-1/2 times as great as in 1945. This growth was due about equally to 

the increase in the volume of loans outstanding and to the advance in 

the average rate of income on loans. The latter rose from 3.09 percent in

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1945 to 4.22 percent in 1949, due principally to a shift toward a greater 

proportion of higher yielding types of loan, and partly to an increase 

in rates of interest. The average rates of income on loans as well as other 

operating ratios for the years 1945 to 1949 are given in Table 27.

T a b le 2 7 . Se l e c t e d O p e r a t in g R a t io s o f I n s u r e d C o m m e r c ia l B a n k s , 1945-1949

Operating ratio 1949 1948 1947 1946 1945

Net current operating earnings to total assets............... 0.87% 0.82% 0.75% 0.72% 0.66%

Net profits after taxes to total capital accounts............

Dividends and interest on capital to total capital

7.98 7.49 8.20 10..01 10.87

accounts............................................................................... 3.40 3.33 3.31 3.32 3.29

Retained net profits to total capital accounts............... 4.58 4.16 4.89 6.69 7.58

Average rate of income on loans........................................ 4.22 4.04 3.79 3.43 3.09

Average rate of income on securities................................ 1.68 1.64 1.60 1.56 1.46

Average interest paid on time and savings deposits. . . . 0.91 0.90 0.87 0.84 0.87

Average service charges to demand deposits.................. 0.18 0.17 0.14 0.11 0.10

Income taxes to net profits before income taxes........... 28.11 26.98 27.89 26.38 24.80

Total income from securities of $1,215 million in 1949 was practically 

the same as in 1948, and comprised one-third of total current operating 

earnings. The average rate of income on securities increased for the 

fourth successive year, and in 1949 averaged 1.68 percent. Income from 

United States Government obligations, which constitute the major 

portion of the securities portfolio, increased less than 1 percent. This 

represented some stabilization of income from this source, following the 

decline during 1947 and 1948 from the 1946 peak. Income from all other 

securities advanced 6 percent in 1949.

Other current operating earnings amounted to $632 million or 18 

percent of the total. Over a fourth of this amount came from service 

charges on deposit accounts, which continued to grow in importance. 

Another fourth was earned by the trust departments of banks. Miscellaneous earnings from commissions, fees, and rentals accounted for the 

rest of current operating earnings.

Total current operating expenses. Current operating expenses of 

insured commercial banks totaled $2,284 million in 1949, 6 percent 

greater than in 1948. Almost half the total consisted of salaries and 

wages. The number of bank employees totaled 365,747 at the end of 

the year. Both the total and average compensation of bank employees 

increased moderately during the year. The average amount paid to 

bank officers was $5,993; the average paid to other employees was $2,380.

Interest paid on time and savings deposits amounted to $328 million 

in 1949. This was an increase of 4 percent over the preceding year and 

was the largest amount ever paid by insured commercial banks. Interest 

paid on deposits constituted 14 percent of total expenses in 1949, compared with 15 percent in 1945 and 27 percent in 1934. The decline in the 

relative importance of interest payments since 1934 has been due to the

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EARNINGS OF INSURED COMMERCIAL BANKS 43

fall in the average rate of interest paid on time and savings deposits; 

the amount of such deposits has increased substantially. In 1949 interest 

paid on such deposits averaged 0.91 percent, practically the same rate 

as in 1948.

Other operating expenses were $845 million and comprised 37 percent 

of total expenses in 1949. These include such varied items as taxes other 

than on net income, rentals, depreciation on fixed assets, interest on 

borrowed money, fidelity and other insurance premiums, advertising, 

travel, office supplies, deposit insurance assessments, dues and contributions to various organizations, and other incidental items.

Net current operating earnings. Gross earnings exceeded gross 

expenses by a record $1,323 million in 1949, an increase of 7 percent above

1948. The rate of net earnings on total assets advanced from 0.82 percent 

in 1948 to 0.87 percent in 1949, the highest rate since 1934. This represents 

a substantial advance from the war-time low of 0.66 percent in 1945.

Charge-offs, recoveries, and transfers to and from reserves.

The major element in the charge-offs of 1948 and 1949 was the transfer 

of larger amounts to valuation reserves against loans. This practice was 

stimulated by the December 8, 1947, ruling of the Commissioner of 

Internal Revenue permitting banks to accumulate limited amounts of 

tax-free reserves for bad-debt losses on loans. By the end of 1949 over 

two-fifths of all insured commercial banks had added to their reserves 

in accordance with this ruling, bringing total reserves in these accounts 

to $464 million, as shown in Table 28. During the year $221 million were 

added to all reserve accounts against loans, and only $28 million transferred from such accounts, leaving a total of $548 million in these accounts at the end of 1949.

T a b le 2 8 . U se o f R e s e r v e M e th o d o f A c c o u n t in g fo r B a d D e b t

L o sses o n L o a n s b y I n s u r e d C o m m e r c ia l B a n k s , 1948 a n d 1949

Banks using reserve method

Amount of reserves for

bad debt losses on loans

(in thousands)1

Number Percentage

Dec. 31, 1949 Dec. 31,1948

1949 1948 1949 1948

Insured commercial banks in

the United States...................

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

State banks members of Federal

Reserve System.........................

State banks not members of

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

5,576

2,336

937

2,303

5,120

2,135

888

2,097

42%

47

49

35

38%

43

46

32

$463,773

280,983

132,290

50,500

$320,6582

199,3632

86,928

34,367

1Reserves for bad debt losses on loans comprise the major portion of valuation reserves against

loans; the latter totaled $548,034,000, on December 31, 1949.

2 Revised.

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44 FEDERAL DEPOSIT INSURANCE CORPORATION

Losses and charge-offs on loans slightly exceeded recoveries on loans 

during the year. Similarly, losses, charge-offs, and transfers to reserve 

accounts on securities exceeded recoveries and transfers from these 

accounts, but were more than offset by profits on securities sold. Gross 

charge-offs, recoveries and profits on securities sold, and net charge-offs 

on total assets by insured commercial banks from 1934 to 1949 are shown 

in Chart F.

[Chart F. R e c o v e r ie s an d C h a r g e -O f f s

in su re d co m m ercia l b a n k s, 1934-1949

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EARNINGS OF INSURED COMMERCIAL BANKS 45

For all assets, losses, charge-offs, and transfers to reserve accounts 

totaled $380 million in 1949. This amount was partly offset by recoveries 

and transfers from reserve accounts of $140 million. A further offset 

was the $73 million profits on the sale of securities. The balance, or net 

charge-offs, amounted to $167 million in 1949, compared with $219 

million in 1948. While net charge-offs thus declined in 1949, the situation 

contrasts sharply with the experience from 1943 to 1946 when recoveries 

and profits on assets exceeded losses and charge-offs.

Net profits. The combined effect of higher net current operating 

earnings and lower net charge-offs was to increase net profits in 1949. 

Net profits before income taxes were $1,156 million. Income taxes reduced 

this to $831 million, a greater amount than in either 1947 or 1948, and 

only 8 percent below the record 1945 level. Net profits after income taxes 

in 1949 were equal to 0.55 percent of the total assets of the banks, in 

comparison with 0.49 percent in the preceding year.

For the first time since 1945 the rate of return on capital turned upward. 

In 1949 net profits after taxes were 7.98 percent of total capital accounts, 

compared with 7.49 percent in 1948 and an average of 7.74 percent 

during the preceding ten years.

Dividends and retained profits. Chart G shows the amount and 

disposition of net profits after taxes from 1935 to 1949.

C h a r t G . D is p o s it io n o f N e t P ro f its A f t e r T a x e s

in s u r e d c o m m e r c ia l b a n k s , 1935-1949

MILLIONS OF DOLLARS MILLIONS OF DOLLARS

I ........................................ S M M a 1 ' ■ 0

1935 1936 1937 1938 1939 1940 1941 1942 1943 1944 1945 1946 1947 1948 1949

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46 FEDERAL DEPOSIT INSURANCE CORPORATION

For the seventh successive year dividend payments increased, reaching 

a new high of $354 million. This represented a return of 3.40 percent on 

total capital accounts, the highest rate received by stockholders since 

1941. Notwithstanding this increase, dividend payments were a smaller 

proportion of net profits than in the preceding year, declining from 45 

percent to 43 percent. This compares with an average of 39 percent 

disbursed during World War II and 61 percent in the prewar period.

Higher net profits in 1949 permitted not only greater dividends but 

also larger additions to capital accounts than in previous years. A total 

of $477 million, or 15 percent more than in 1948, was retained in capital 

accounts. The proportion of net profits retained in 1949 was 57 percent, 

slightly higher than in the preceding year and substantially higher than 

in prewar years.

Geographical variation in net profits and their disposition.

There was considerable variation among the States in the rate of net 

profit on total capital accounts and in the disposition of profits, as shown 

in Chart H and Table 29. Banks in the West and Southeast recorded 

the highest rates of profit. Of the 24 States whose banks averaged 10 

percent or higher, 18 were west of the Mississippi River and the other 

six were in the Southeast. New Mexico with 13.95 percent had the 

highest rate. The lowest average rates of net profit were in the District 

of Columbia and ten northeastern States. New York with 5.19 percent 

had the lowest rate.

In general, the proportion of profits retained varied directly with the 

level of profits. Thus the States whose banks retained the highest proportion, Idaho and Nevada each with 85 percent, were among the States 

with the highest rates of net profit. Conversely, the lowest proportion 

retained was the 34 percent by banks in New York. There were, however, 

three conspicuous departures from this pattern. Banks in California 

retained a smaller proportion of profits than the national average even 

though their rate of net profit was above the national average. On the 

other hand, banks in Maine and New Hampshire retained a higher 

proportion of profits than the national average even though their rates 

of net profit were below the national average.

The amount and proportion of net profits retained varies not only 

with the rate of net profit, but also with the need for additions to capital 

accounts. Thus the relatively small proportion of profits retained by 

banks in New York State may be explained on the basis that their average 

ratio of total capital accounts to total assets is appreciably above the 

national average. On the contrary, States whose banks have relatively 

low capital ratios generally retained a relatively large proportion of 

profits. There were, however, a few departures from this general relationship. Of the 12 States whose banks had a ratio of total capital acDigitized for FRASER 

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EARNINGS OF INSURED COMMERCIAL BANKS 47

counts to total assets equal to or above the United States average in 

1949, banks in five of them retained a higher than average proportion of 

net profits. These five states were New Hampshire, Maine, West Virginia, 

Virginia and Kentucky. On the other hand, banks in 36 States and the 

District of Columbia had a capital ratio below the United States average; 

banks in four of them—Maryland, the District of Columbia, California, 

and Montana—retained a smaller than average proportion of net profits.

T a b le 2 9 . C o m p a r iso n o f Se l e c t e d R a t io s o f I n s u r e d C o m m e r c ia l B a n k s ,

B y St a t e , 1949

Ratio of total

capital accounts to

total assets

(Dec. 31)

Proportion of

net profits

after taxes

retained in

capital

accounts

Ratio of net

profits after

taxes to total

capital

accounts

Ratio of

dividends to

total capital

accounts

United States................................. 6.9% 57.4% 7.98% 3.40%

Alabama........................................ 6.7 64.7 9.83 3.47

Arizona........................................... 4.8 65.1 11.99 4.19

Arkansas........................................ 6.3 69.5 11.75 3.59

California...................................... 5.4 51.7 11.70 5.65

Colorado........................................ 5.9 71.1 10.26 2.96

Connecticut.................................. 7.6 52.4 6.80 3.23

Delaware........................................ 9.6 46.8 6.97 3.71

District of Columbia................... 6.3 47.8 7.30 3.81

Florida............................................ 6.2 75.7 10.52 2.55

Georgia.......................................... 6.8 61.1 10.48 4.08

Idaho.............................................. 4.8 84.8 12.61 1.91

Illinois............................................ 5.8 67.1 9.18 3.02

Indiana........................................... 5.8 71.7 8.68 2.45

Iowa................................................ 6.2 73.4 11.02 2.93

Kansas............................................ 5.8 73.3 11.23 3.00

Kentucky....................................... 6.9 64.4 9.19 3.28

Louisiana....................................... 5.1 72.0 10.12 2.83

Maine............................................. 8.8 61.0 7.16 2.79

Maryland....................................... 6.6 54.4 7.41 3.38

Massachusetts.............................. 8.2 40.4 5.73 3.42

Michigan........................................ 5.4 62.7 9.08 3.38

Minnesota...................................... 6.2 65.3 9.27 3.22

Mississippi..................................... 6.0 67.9 10.15 3.26

Missouri......................................... 5.8 64.3 9.93 3.55

Montana........................................ 4.2 45.4 7.58 4.14

Nebraska........................................ 5.8 69.8 10.78 3.26

Nevada.......................................... 5.6 84.9 12.04 1.81

New Hampshire........................... 10.3 58.2 5.59 2.34

New Jersey.................................... 6.7 70.5 9.20 2.72

New Mexico.................................. 4.9 73.1 13.95 3.75

New York...................................... 8.4 33.8 5.19 3.44

North Carolina............................. 6.5 75.8 12.01 2.90

North Dakota.............................. 5.0 70.2 13.14 3.91

Ohio................................................. 6.1 67.0 8.20 2.71

Oklahoma...................................... 6.4 69.8 11.24 3.40

Oregon............................................ 6.0 75.5 10.40 2.55

Pennsylvania................................ 9.7 52.2 6.31 3.02

Rhode Island................................ 7.3 48.2 6.07 3.14

South Carolina............................. 6.0 67.4 11.06 3.61

South Dakota............................... 5.5 72.8 13.01 3.54

Tennessee...................................... 6.1 67.3 10.19 3.33

Texas.............................................. 5.5 60.1 9.52 3.80

Utah................................................ 5.9 61.4 11.04 4.26

Vermont......................................... 10.1 56.9 6.30 2.72

Virginia.......................................... 7.3 62.7 9.12 3.40

Washington................................... 5.6 68.6 10.71 3.37

West Virginia................................ 8.1 68.0 8.82 2.82

Wisconsin...................................... 6.0 67.1 8.07 2.65

Wyoming....................................... 5.4 72.6 11.43 3.13

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48 FEDERAL DEPOSIT INSURANCE CORPORATION

C h a r t H. C o m p a r iso n of P r o f its R e t a in e d in C a p it a l A cco u n ts

W it h C a p it a l R a tio s a n d R a t e s of N e t P ro f its

in s u r e d c o m m e r c ia l b a n k s in e a c h s t a t e , 1949

RATIO OF TOTAL CAPITAL ACCOUNTS

TO TOTAL ASSETS

5% 10%

5% 10% 15%

U. S. AVERAGE

RATES OF NET PROFITS RETAINED

AND DISBURSED

9% 10%

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M u t u a l S a y in g s B a n k s

Number, deposits, and assets of all mutual savings banks. At

the end of 1949 there were 531 mutual savings banks in the United 

States. These savings banks are heavily concentrated in the Northeastern 

States. All but 16 are located in the New England and Middle Atlantic 

States. The number of mutual savings banks and their relative importance 

in the States where they are located are indicated in Table 30.

T a b le 3 0. N u m b e r a n d D e p o sit s of A ll B a n k s a n d M u t u a l Sa v in g s B a n k s

in Sta t e s H a v in g M u t u a l Sa v in g s B a n k s , D e c e m b e r 31, 1949

Number of

banks

Total deposits

(in millions)

Time deposits of

business and

individuals

(in millions)

Mutual savings banks

as a percentage of

all banks

All

banks

Mutual

savings

banks

All

banks

Mutual

savings

banks

All

banks

Mutual

savings

banks

NumberTotal

deposits

Time

deposits

of

business

and

individuals

United States—

total..................... 14,687 531 $164,467 $19,293 $54,129 $19,269 4% 12% 36%

17 States— total.. 5,788 531 93,321 19,293 36,868 19,269 9 21 52

Maine.................... 96 32 675 236 431 235 33 35 55

New Hampshire.. 110 34 533 275 386 275 31 52 72

Vermont............... 77 7 328 85 233 84 9 26 36

Massachusetts. . . 374 190 7,374 3,249 3,992 3,248 51 44 81

Rhode Island. . . . 28 9 1,011 264 566 264 32 26 47

Connecticut......... 189 72 2,827 1,323 1,728 1,322 38 47 77

New York............ 770 130 41,920 11,106 15,016 11,102 17 26 74

New Jersey.......... 355 23 5,088 546 2,526 536 6 11 21

Pennsylvania. . . . 985 7 11,102 1,062 3,987 1,062 1 10 27

Delaware.............. 40 2 562 88 149 88 5 16 59

Maryland............. 173 9 1,977 398 812 396 5 20 49

Ohio....................... 664 3 7,492 237 2,729 236 C1) 3 9

Indiana................. 492 4 3,108 43 916 40 1 1 4

Wisconsin............. 556 4 2,969 12 1,259 12 1 0) 1

Minnesota............ 683 1 2,972 158 1,026 158 0) 5 15

Oregon................... 71 1 1,291 16 386 16 1 1 4

Washington.......... 125 3 2,092 195 726 195 2 9 27

1 Less than 0.5 percent.

Detailed data: See Table 103, pp. 136-37.

Though mutual savings banks comprise less than 4 percent of the total 

number of banks in the United States, they hold about 12 percent of 

total bank deposits. Few of them accept demand accounts, and consequently they compete with commercial banks only with respect to 

savings and time deposits. At the end of 1949, mutual savings banks 

held 36 percent of the total savings and time deposits of business and 

individuals in the United States; in both New England and New York 

State they held 74 percent.

Mutual savings banks have shared substantially in the growth in 

savings and time deposits since World War II. The $19 billion of deposits

49

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50 FEDERAL DEPOSIT INSURANCE CORPORATION

in mutual savings banks at the end of 1949 represented a 25 percent 

expansion since December 31, 1945, and a 5 percent increase during the 

year. In contrast, savings and time deposits of business and individuals 

in commercial banks in New England and New York State increased 

15 percent between 1945 and 1949; during 1949 these deposits declined 

2 percent.

Mutual savings banks have customarily invested most of their funds 

in long-term obligations, largely real estate loans and government 

securities. During 1949 assets of mutual savings banks increased 5 

percent. Most of the growth was in loans, which advanced 16 percent. 

Holdings of United States Government obligations declined slightly 

during the year, but still comprised over half of total assets. Holdings 

of other securities, which were about one-tenth of total assets, increased 

7 percent during the year. Recent changes in the principal assets and 

liabilities of all mutual savings banks are given in Table 31.

T a b le 3 1 . A sse ts a n d L ia b il it ie s o f A l l M u t u a l Sa v in g s B a n k s in t h e

U n it e d St a t e s , Se le c te d D a t e s, 1945-1949

Asset, liability, or surplus

and capital account item

Amount (in millions) Percentage change1

Dec. 31,

1949

Dec. 31,

1948

Dec. 31,

1945

1948 to

1949

1945 to

1949

Total assets..................................................... $21,493 $20,474 $17,021 5.0% 26.3%

Cash and funds due from banks............... 873 878 609 —0.6 43.2

United States Government obligations. .

Obligations of States and political

subdivisions...............................................

11,428 11,476 10,673 -0.4 7.1

86 71 89 22.1 -3.5

Other securities............................................. 2,308 2,162 1,166 6.8 98.0

Real estate and other loans....................... 6,578 5,686 4,281 15.7 53.7

Miscellaneous assets.................................... 220 201 203 9.5 8.3

Total liabilities and surplus accounts 21,493 20,474 17,021 5.0 26.3

Total deposits................................................ 19,293 18,405 15,385 4.8 25.4

Miscellaneous liabilities.............................. 78 70 43 11.7 79.2

Surplus and capital accounts..................... 2,122 1,999 1,593 6.2 32.2

Number of banks included............................. 531 532 5422 -0.2 -2.0

i Computed from unrounded figures.

* Includes 8 guaranty savings banks in New Hampshire.

Detailed data: See Table 105, pp. 142-43.

At the beginning of 1949 more than 40 percent of the United States 

Government obligations held by mutual savings banks was in Treasury 

bonds maturing beyond 20 years. During the year this proportion dropped 

to 30 percent. However, the average length of time to maturity of 

Treasury bonds held by mutual savings banks was lengthened, because 

of the sale of bonds with less than 10 years to maturity which were 

eligible for purchase by commercial banks and the acquisition of issues 

with longer maturities. The maturity distribution of mutual savings 

bank holdings of United States Government obligations for December 

31, 1947, 1948, and 1949 is shown in Table 32.

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MUTUAL SAVINGS BANKS 51

T a b le 3 2 . M a t u r it ie s o f U n it e d St a t e s G o v e r n m e n t O b l ig a t io n s H e ld

b y M u t u a l Sa v in g s B a n k s , D e c e m b e r 31, 1947-1949

Amount (in millions) Percentage distribution

Type and maturity

Dec. 31,

1949

Dec. 31,

1948

Dec. 31,

1947

Dec. 31,

1949

Dec. 31,

1948

Dec. 31,

1947

United States Government

obligations— total.............. $11,428 $11,476 $11,978 100.0% 100.0% 100.0%

Marketable issues:

Direct:

Treasury bills, certificates,

and notes........................... 290 391 314 2.5 3.4 2.6

Bonds maturing in:1

5 years or less.................. 1,120 948 652 9.8 8.2 5.5

5 to 10 years..................... 387 1,111 1,415 3.4 9.7 11.8

10 to 20 years.................. 5,691 3,794 3,712 49.8 33.1 31.0

Over 20 years................... 3,370 4,695 5,515 29.5 40.9 46.0

Guaranteed issues................. 1 (2) 3 (2) (*) (2)

N on-marketable issues3............ 569 537 367 5.0 4.7 3.1

1 Based upon number of years to final maturity.

2 Less than $500,000 or .05 percent.

* United States savings bonds, Treasury bonds (investment series A-1965), and depositary bonds.

Number, deposits, and assets of insured mutual savings banks*

There were 192 mutual savings banks insured by the Federal Deposit 

Insurance Corporation at the end of 1949. These banks comprised 36 

percent of all mutual savings banks and held 70 percent of total deposits 

in mutual savings banks. These percentages have changed little since 

1943, when 125 mutual savings banks in New York State were admitted 

to Federal deposit insurance.

The proportion of mutual savings banks insured by the Corporation 

varies widely among the States, as shown in Table 33. In eight of the 

17 States having mutual savings banks all of them are insured by the 

Corporation; in four States, on the contrary, none is insured by the 

Corporation. The difference in insurance status is particularly significant 

in the cases of New York State, where all mutual savings banks are 

insured, and in Massachusetts, where no mutual savings bank is insured 

by the Corporation. These two States have, respectively, 58 percent and 

17 percent of total deposits in all mutual savings banks. Thus the characteristics of insured mutual savings banks are largely determined by 

those in New York State, while the characteristics of noninsured mutual 

savings banks are dominated by those in Massachusetts.

Insured mutual savings banks do not differ significantly from all 

mutual savings banks in their essential characteristics. Changes in assets 

and in their composition follow the same pattern. The main difference in 

recent years has been the more rapid growth in deposits of insured mutual 

savings banks, and this has been due primarily to the fact that savings 

deposits in New York State have grown more rapidly than those in 

Massachusetts and other New England States.

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52 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 3 3 . N u m b e r a n d D e p o sit s of I n s u r e d a n d N o n in s u r e d

M u t u a l Sa y in g s B a n k s , D e c e m b e r 31, 1949

Number of mutual

savings banks

Deposits in mutual

savings banks

(in millions)

Percentage of

mutual savings

banks insured

on basis of—

Total Insured Noninsured Total Insured

banks

Noninsured

banks

Number Deposits

17 States— total............ 531 192 339 $19,293

236

$13,591

27

$5,702

209

36%

19

70%

Maine............................ 32 6 26 12

New Hampshire.......... 34 34 275 275

Vermont........................ 7 7 85 85 100 100

Massachusetts............. 190 190 3,249

264

‘3,249

............... 9 9 264Rhode Island

Connecticut.................. 72 3 69 1,323

11,106

546

39 1,284 4 3

New York..................... 130 130 11,106

546

100 100

New Jersey................... 23 23 100 100

Pennsylvania............... 7 7 1,062

88

1,062 100 100

Delaware....................... 2 2 88

Maryland...................... 9 2 7 398 78 320 22 20

Ohio................................ 3 3 237 237 100 100

Indiana.......................... 4 3 1 43 30 13 75 71

Wisconsin..................... 4 3 1 12 12 C1) 75 97

Minnesota..................... 1 1 158 158 100 100

Oregon........................... 1 1 16 16 100 100

Washington.................. 3 3 195 195 100 100

1 Less than $500,000.

Detailed data: See Table 103, pp. 136-37.

Earnings of insured mutual savings banks. Earnings data are 

obtained by the Corporation only for insured mutual savings banks. For 

the eighth successive year both total and net current operating earnings 

of insured mutual savings banks advanced to new highs. Depositors 

received record dividends, while income carried to surplus accounts was 

slightly below 1948.

In 1949, 86 percent of total earnings of $437 million came from real 

estate mortgages and United States Government obligations. Income on 

real estate loans advanced 15 percent to $191 million, while interest of 

$183 million on United States Government obligations was about the 

same as in 1948. Interest on other securities increased over a fourth 

during the year but still comprised only about 10 percent of total earnings.

Growth in the volume of loans was wholly responsible for the increase 

in loan income during 1949. The average rate of income on loans declined 

slightly during the year to 4.37 percent, as shown in Table 34. This was 

the fourth successive year that the average rate of income on loans has 

declined. In contrast to the declining rate of income on loans, the average 

rate of income on securities increased slightly to 2.44 percent, the highest 

rate since 1943. A major factor in this increase was the relatively larger 

holdings of corporation bonds, which bear a higher average rate of 

interest than United States Government obligations.

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MUTUAL SAVINGS BANKS 53

T a b le 3 4. A m o u n t s a n d A v e r a g e R a t e s of I n c o m e R e c e iv e d a n d D iv id e n d s

P a id b y I n s u r e d M u t u a l Sa v in g s B a n k s , 1934-1949

Year1

Income (in millions)

from— Rate of income on— 2 Dividends paid

on deposits Ratio of

dividends

to net

current

earnings Loans Securities Loans Securities

Amount

(in

millions)

Rate2

1949......................... $194 $228 4.37% 2.44% $236 1.79% 70.9%

1948......................... 169 220 4.43 2.38 196 1.57 64.8

1947......................... 153 209 4.51 2.34 181 1.53 64.3

1946......................... 144 194 4.58 2.35 160 1.47 60.3

1945......................... 143 160 4.61 2.31 143 1.49 58.5

1944......................... 141 128 4.53 2.38 132 1.60 63.3

1943......................... 139 101 4.44 2.54 118 1.65 63.6

1 Earlier data are not comparable.

2 Loans, securities, and deposits used in computing these ratios are averages of figures reported at

beginning, middle, and end of year.

Detailed data: See Tables 118 and 119, pp. 182-85.

Current operating expenses totaled $104 million in 1949. Almost half 

of this amount consisted of wages and salaries, which increased slightly 

during the year. Officers received an average of $9,813 while other 

employees averaged $2,952.

Dividends paid to depositors were $236 million. This equalled 71 

percent of net current operating earnings and represented the highest 

proportion of earnings distributed since 1939. The amount distributed 

was 20 percent above 1948, and the largest in the history of insured 

mutual savings banks. These dividend payments, similar to interest paid 

by other banks, afforded an average payment to depositors of 1.79 percent 

on their time and savings deposits. This represents the highest average 

rate of dividends on deposit accounts in the last ten years, and reflects 

numerous increases during the year in the rate paid by individual banks.

Net current operating earnings in excess of dividends on deposits 

were $97 million. This amount was augmented by profits on sales of 

securities and by other recoveries and transfers from reserves of $78 

million. However, losses and charge-offs and transfers to reserves aggregated $88 million, and taxes computed on net income amounted to 

$4 million. Mutual savings banks are not subject to income tax, either 

State or Federal. However, most of the States where mutual savings 

banks are located levy franchise taxes on them. In six States the amount 

of this tax is related to the net income of the bank, and is therefore 

treated in earnings reports as an income tax.

The remaining net income of insured mutual savings banks, amounting 

to $82 million, was retained, and raised total surplus and other capital 

accounts to $1,420 million. The ratio of surplus and capital accounts 

to total assets remained at 9.4 percent.

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Federal Reserve Bank of St. Louis
PART THREE

DEPOSIT ACCOUNTS AND INSURANCE COVERAGE

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S p e c ia l C a l l s f o r D e p o s it I n f o r m a t io n

The Federal Deposit Insurance Corporation from time to time calls 

for special reports from all insured banks to aid in estimating its contingent liability in insuring bank deposits. The latest call was as of 

September 30, 1949.1 Four previous calls for this purpose have been 

made. These were in 1936, 1938,1941, and 1945.2 In 1934 insured banks, as 

a basis for adjusting the deposit insurance assessment under the temporary 

deposit insurance plan then in operation, reported the amount of their 

insured deposits.*

The information requested on the special calls relates to seven types 

of deposit accounts: demand deposits of individuals, partnerships and 

corporations; savings and time deposits of individuals, partnerships 

and corporations; government deposits; interbank deposits; trust funds 

held in cash in a bank’s trust department or deposited in its commercial 

or savings department or in other banks; outstanding drafts; and other 

deposits. For each of these types of deposit, information is obtained 

regarding the number of accounts, and the deposits in them, in four 

groups: accounts of $5,000 or less, $5,000 to $10,000, $10,000 to $25,000, 

and more than $25,000.

Total deposits as reported on these special calls include all bank 

liabilities which are treated as deposits in computing the insurance 

assessment paid to the Corporation. This total differs from total deposits 

as given in the statements of assets and liabilities, commonly called 

reports of condition, which are submitted to bank supervisory agencies 

for two or more dates each year. The definition of deposits for computation 

of the insurance assessment includes trust funds deposited in other banks, 

outstanding bank drafts, and reciprocal demand balances with other 

banks, all of which are excluded from the definition of deposits in reports 

of condition.4 On the other hand, deposits as defined for computation 

of the insurance assessment may exclude outstanding officers’ and

1 The form and instructions for this report are shown on pp. 110-13.

2 See the following annual reports of the Federal Deposit Insurance Corporation: 1936, pp. 65-77

and 93-94; 1938, pp. 79-99 and 109-11; 1941, pp. 63-78; 1945, pp. 63-80; and 1946, pp. 79-91.

3 The Banking Act of 1933, which created the Federal Deposit Insurance Corporation, provided

for a temporary deposit insurance plan pending inauguration of the permanent plan provided in the

same Act. Under this temporary plan deposits were protected in closed insured banks up to “$2,500 on

account of the net approved claim of the owner of any deposit” . Banks insured under the temporary

plan were required to pay to the Corporation one-fourth of 1 percent of the amount of their insured

deposits on the date of admission to insurance. In June 1934 the temporary deposit insurance plan was

extended until July 1, 1935; in June 1935 it was further extended until the effective date of the Banking

Act of 1935. As of July 1, 1934, the insurance coverage was raised to $5,000 for each depositor, with the

exception that mutual savings banks were authorized to select either the $2,500 or $5,000 coverage.

Each bank insured under the temporary plan was required to submit a statement of its insured deposits

on October 1, 1934, and to adjust the assessment paid to the Corporation in accordance with the increased

amount of deposits covered by insurance. See the Annual Report of the Federal Deposit Insurance

Corporation for 1934, pp. 60-62, 126, 128, 140-47, 184-93, and 244.

4 Insured banks do not necessarily pay assessments on these items, as they may be deducted in

part from deposits when computing the amount to which the assessment rate is applied. Tne deductions

are estimated at 2 percent of total deposits.

57

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cashiers, checks drawn for meeting expenses of the bank or dividends to 

stockholders, though such checks are included in the definition for reports 

of condition.

Because of the differences in definition the total deposits reported on 

a special call date exceed the amount for the same date as defined for 

reports of condition. On the special call for September 30, 1949, the 

banks were asked to report both totals. For that date total deposits as 

defined for computation of the insurance assessment exceeded by 1.1 

percent the total as defined for reports of condition, the two figures 

being nearly $153 billion and slightly over $151 billion, respectively. A 

comparison of the amounts reported in various deposit categories, according to the two definitions, is shown in Table 35. For comparative 

purposes the amounts of total deposits given on reports of condition for 

June 30 and December 31, 1949, are also shown in the table.

T a b le 3 5 . C o m p a r iso n o f D e p o sit s R e p o r te d in t h e Sp e c ia l S u r v e y a n d in

R ep o r ts of C o n d it io n , 1949

ALL INSURED BANKS, UNITED STATES AND POSSESSIONS

(In millions)

Type of deposit

As defined for

computation

of insurance

As defined for

reports of condition

assessment,

Sept. 30,

19491

Sept. 30,

19491

June 30,

1949

Dec. 31,

1949

Total deposits2................................................ $152,667 $151,107 $148,657 $156,786

Government deposits (including postal

savings)....................................................... 11,743 11,743 10,891 11,903

Deposits of individuals, partnerships,

and corporations3..................................... 126,491 126,577 124,832 130,173

Trust funds not deposited in own bank4

Outstanding bank drafts............................

389 (5) (6) (6)

918 (6) (6) (5)

Interbank deposits:

Reciprocal demand balances................. 401 (6) (5) (6)

Other than reciprocal demand balances 10,939 10,939 10,579 12,369

Other deposits8.............................................. 1,786 1,848 2,355 2,341

1 As reported in the special survey for that date.

2 The assessment base, to which the assessment rate is applied in computing the amount of assessment for deposit insurance, is somewhat smaller than deposits as defined for assessment purposes, as

given in the first column.

* Includes trust funds deposited in commercial or savings department of own bank. The difference

between the amounts given for this item in the first two columns is due primarily to the omission by

some banks, in recording total deposit liabilities in connection with the computation of the deposit

insurance assessment, of deposits accumulated for repayment of personal loans.

* Difference between total trust funds as recorded in trust departments and amount deposited in

own bank. Amounts deposited in other banks are included by those banks in deposits of individuals,

partnerships, and corporations both for computation of the insurance assessment and in reports of

condition.

6 Excluded from deposits as defined for reports of condition.

6 The difference between the amounts given for this item in the first two columns is due to various

factors, such as the omission by some banks, in recording deposit liabilities in connection with computation of the deposit insurance assessment, of outstanding officers’ checks representing expenses of

the bank or dividends to stockholders.

The contingent liability of the Corporation in insuring bank deposits 

is estimated from the information reported on the special call by adding 

together (a) the total amount of deposits in all accounts with balances 

of $5,000 or less and (b) $5,000 for each of the accounts in excess of that

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SPECIAL CALLS FOR DEPOSIT INFORMATION 59

amount. The total thus obtained is referred to here and in the tables 

which follow as “ insured deposits” . However, the amount computed 

in this way does not conform precisely with the amount of deposits 

insured by the Corporation when a bank is placed in receivership. The 

deposit insurance law provides that in an insured bank closed on account 

of inability to meet the demands of its depositors, each depositor shall 

have insurance protection to a maximum of $5,000 upon his deposits 

maintained in the same right and capacity.5 If a depositor has more than 

one account, for example, a personal checking account and a savings 

account, the accounts are combined in determining what amount shall 

be paid to him by the Corporation. The total balances in all such accounts, after deducting the amount he owes the bank, if any, is paid up 

to a maximum of $5,000. If a deposit is protected in part by pledge of 

security, by priority, or by offsetting claims, only such part as is not 

thus protected, up to a maximum of $5,000 is paid by the Corporation. 

This protection applies to all deposits of a depositor in one bank. Accounts in different branches of a bank are not separately insured.

In the special reports for the purpose of estimating the Corporation’s 

contingent liability the banks have not been requested to combine deposit 

accounts in cases where there is more than one account standing to the 

credit of a depositor in the same right and capacity. Moreover, no deductions have been made for offsetting indebtedness. In consequence, 

the number of accounts exceeds the number of depositors, and the amount 

of insured deposits, as calculated from the information given in these 

reports, exceeds the contingent liability of the Corporation under the 

definitions and procedures applicable to banks placed in receivership. 

In the special report for 1934, the banks combined accounts belonging 

to the same depositor. The data from that report, therefore, are not 

strictly comparable with those for the later dates.

A c c o u n t s a n d I n s u r e d D e p o s it s i n a l l I n s u r e d B a n k s

On September 30, 1949, the 13,631 insured banks reported 104 million 

deposit accounts and $153 billion of deposits. The amount of insured 

deposits was estimated at $75 billion, or 49 percent of total deposits. 

Nearly 96 percent of the accounts had balances of $5,000 or less and 

were therefore considered to be fully protected by deposit insurance.

Growth in accounts and deposits, 1934 to 1949. The amount of 

deposits reported in 1949 was more than four times as large as that 

reported for October 1, 1934. The number of accounts was only twice 

as large. Each successive call has shown growth in both the number of 

accounts and the amount of deposits. The rate of growth was most

8 For these provisions, see subsections (c) (13) and (1) (6) of the Federal deposit insurance law,

as amended, Title 12, U.S.C., 1940 ed., sec. 264, or Annual Report of the Federal Deposit Insurance

Corporation for 1935, pp. 70 and 78.

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rapid in the war years, 1941 to 1945, when deposits increased by 102 

percent and the number of accounts by 33 percent.

Chart I gives a picture of the growth which took place in the total 

amount of deposits and the amount of insured deposits from 1934 to 

1949. This chart shows not only the deposits as reported on the special 

calls but also as reported or estimated for June 30 and December 31 

of each year. The figures for the mid-year and year-end dates are given 

in Table 36, and those for the special call dates in Table 37.

C h a r t I . T o ta l a n d I n s u r e d D e p o s it s, A ll I n s u r e d B a n k s , 193 4 -19 4 9

BILL IONS OF DOLLARS BI LL ION S OF DOLLARS

Table 37 also gives the total number of accounts held by insured banks 

and the average size of such accounts. The average size increased from 

$723 in 1934 to a peak of $1,523 in 1945 and then declined to $1,468 in 

1949. Thus there was a decrease of 3.6 percent in the average size of 

deposit accounts from 1945 to 1949 as the number of accounts increased 

by 13 percent and total deposits by 9 percent.

Accounts and deposits by size of bank. Since 1934 there has been 

a great increase in the size of insured banks as reflected in the amount 

of their deposits. On the first special call date 36 percent of all insured 

banks had total deposits of $250,000 or less. The proportion of banks in 

this category declined to 14 percent in 1941 and to less than 1 percent in 

1945, and remained at less than 1 percent in 1949. Banks having deposits 

from $250,000 to $1,000,000 declined from 39 percent of all insured

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ACCOUNTS AND INSURED DEPOSITS IN ALL INSURED BANKS 61

banks in 1934 to 18 percent in 1949. In other words, banks with deposits 

of $1 million or less declined from 75 percent of all insured banks in 

1934 to 19 percent in 1949.

T a b le 3 6. E s t im a t e d I n s u r e d D e p o sit s in a l l I n s u r e d B a n k s ,

J u n e 30 a n d D e c e m b e r 31, 1934-1949

Date

Total

deposits

(in

millions)1

Estimated

insured

deposits

(in

millions)2

Percent

of

deposits

insured

Date

Total

deposits

(in

millions)1

Estimated

insured

deposits

(in

millions)2

Percent

of

deposits

insured

1934 June 30 $36,873 $16,831 45.6% 1942 June 30 $73,027 $28,873 39.5%

Dec. 31 40,060 18,075 45.1 Dec. 31 89,869 32,837 36.5

1935 June 29 41,378 18,954 45.8 1943 June 30 97,321 38,437 39.5

Dec. 31 45,125 20,158 44.7 Dec. 31 111,650 48,440 43.4

1936 June 30 47,637 21,139 44.4 1944 June 30 122,415 50,542 41.3

Dec. 31 50,281 22,330 44.4 Dec. 31 134,662 56,398 41.9

1937 June 30 48,832 22,544 46.2 1945 June 30 143,953 60,373 41.9

Dec. 31 48,228 22,557 46.8 Dec. 31 158,174 67,021 42.4

1938 June 30 48,469 22,540 46.5 1946 June 29 151,628 70,486 46.5

Dec. 31 50,791 23,121 45.5 Dec. 31 148,458 73,759 49.7

1939 June 30 53,573 24,237 45.2 1947 June 30 145,597 74,097 50.9

Dec. 30 57,485 24,650 42.9 Dec. 31 154,096 76,254 49.5

1940 June 29 59,853 24,708 41.3 1948 June 30 148,562 73,705 49.6

Dec. 31 65,288 26,638 40.8 Dec. 31 153,454 75,320 49.1

1941 June 30 67,419 27,398 40.6 1949 June 30 148,657 74,2123 49.9

Dec. 31 71,209 28,249 39.7 Dec. 31 156,786 76,589 48.8

1 As tabulated from the semi-annual reports of condition. See the following Annual Reports of the

Corporation: 1949, pp. 141 and 143; 1948, pp. 87 and 89; 1947, p. 117; 1941, pp. 123 and 124; 1938,

p. 166; 1935, p. 171; and 1934, p. 243.

2 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. All estimates are based on

$5,000 maximum coverage for each account, and for this reason exceed slightly the amount actually

insured.

3 Revised subsequent to estimate referred to in the auditors’ opinion, note 5, page 24.

T a b le 37. A c co u n ts a n d D e p o sit s in a l l I n s u r e d B a n k s ,

S p e c ia l C a l l D a t e s, 1934-1949

Date

Number

of

banks

Number of accounts

(in thousands)1

Amount of deposits

(in millions)

Average size of

account1

Total Fully

protected Total Insured1 All

accounts

Fully

protected

accounts

Sept. 30, 1949.................. 13,631 104,003 99,564 $152,667 $74,533 $1,468 $526

Oct. 10, 1945................... 13,481

13,487

92,333 88,988 140,603 65,859 1,523 552

Sept. 24, 1941.................. 69,495 68,165 69,566 27,639 1,001 308

Sept. 21, 1938.................. 13,754 62,731 61,690 49,224 22,610 785 282

May 13, 1936................... 14,148 58,785 57,817 46,168 20,456 785 270

Oct. 1, 1934...................... 14,128 51,246 50,423 37,026 16,455 723 248

Percentage change

1945 to 1949 (48 m o.). 1.1 12.6 11.9 8.6 13.2 -3.6 -4.7

1941 to 1945 (49 m o.). - .01 32.9 30.5 102.1 138.3 52.0 79.2

1938 to 1941 (36 m o.). - 1.9 10.8 10.5 41.3 22.2 27.7 9.2

1936 to 1938 (28 m o.). - 2.7 6.7 6.7 6.6 10.5 - .1 4.4

1934 to 1936 (19 m o.). .1 14.7 14.7 24.7 24.3 8.7 8.9

1 Data for 1934 are not strictly comparable with those for later years, because of the combining

of accounts belonging to the same depositor.

In the case of banks with deposits of more than $1 million the change 

is in the opposite direction. In 1934, 19 percent of the banks had deposits 

ranging from $1 million to $5 million. The proportion of banks in this 

size group increased to 31 percent in 1941 and to 55 percent in 1949.

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Banks with deposits of over $5 million were only 5 percent of all insured 

banks in 1934 but were 26 percent of all insured banks in 1949. The 

number and percentage of insured banks in each of these size groups are 

given in Table 38 for each of the special call dates.

Table 38. N u m b e r o f In s u r e d B a n k s, S p e c ia l C a l l D a t e s , 1934-1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Size of bank Sept. 30,

1949

Oct. 10,

1945

Sept. 24,

1941

Sept. 21,

1938

May 13,

1936

Oct. 1,

1934

Number of insured banks.. 13,631 13,481 13,487 13,754 14,148 14,128

Banks with deposits of—

$250,000 or less...................... 77 89 1,838 3,163 3,954 5,109

$250,000 to $1,000,000........ 2,477 2,901 6,219 6,124 6,060

3,231

5,546

2,719

|

$1,000,000 to $5,000,000. . . 7,551 7,730 4,177 3,483

$5,000,000 to $25,000,000. . 2,812 2,476 963 758 694

$25,000,000 to $100,000,000

Over $100,000,000.................

501

213

450

195 } 290 226 209

| 754

Percentage distribution—

total.................................... 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

Banks with deposits of—

$250,000 or less...................... .6 .7 13.6 23.0 28.0 36.2

$250,000 to $1,000,000........ 18.2 21.5 46.1 44.5 42.8 39.3

$1,000,000 to $5,000,000. . . 55.4 54.7 31.0 25.3 22.8 19.2

$5,000,000 to $25,000,000. . 20.6 18.4 7.1 5.5 4.9 1

$25,000,000 to $100,000,000

Over $100,000,000.................

3.7

1.5

3.3

1.4 } 2.2 1.7 1.5 [ 5.3

The change which has taken place in the distribution of banks by size 

has been reflected in a changing distribution of deposit accounts among 

banks in the various size groups. The number of accounts held by 

banks in various size groups on the special call dates is given in Table 

39.

Table 39 . A c c o u n ts in In s u r e d B a n k s, S p e c ia l C a l l D a t e s , 1936-1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Size of bank Sept. 30,

1949

Oct. 10,

1945

Sept. 24,

1941

Sept. 21,

1938

May 13,

1936

Number of accounts

(in thousands)— total. . . 104,003 92,334 69,494 62,731 58,784

In banks with deposits

of—

$250,000 or less........................ 31 31 1,196 2,169 2,681

$250,000 to $1,000,000........... 2,358 2,832 9,465 10,213 10,328

$1,000,000 to $5,000,000___ 20,536 20,489 19,557 17,960 16,512

$5,000,000 to $25,000,000. . . 27,519 24,367 14,928 12,821 11,288

$25,000,000 to $100,000,000

Over $100,000,000...................

17,721

35,838

15,436

29,179 } 24,348 19,568 17,975

Percentage distribution—

tota l........................................... 100.0% 100.0% 100.0% 100.0% 100.0%

In banks with deposits

of—

$250,000 or less........................ .02 .03 1.7 3.5 4.5

$250,000 to $1,000,000.......... 2.3 3.1 13.6 16.3 17.6

$1,000,000 to $5,000,000___ 19.7 22.2 28.2 28.6 28.1

$5,000,000 to $25,000,000. . . 26.5 26.4 21.5 20.4 19.2

$25,000,000 to $100,000,000

Over $100,000,000...................

17.0

34.5

16.7

31.6 } 35.0 31.2 30.6

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In 1936 over 22 percent of all deposit accounts were carried in the 

10,014 banks having deposits of less than $1 million, while in 1949 the 

2,554 banks of this size held only 2 percent of the accounts. In contrast, 

the 209 banks with deposits of more than $25 million in 1936 held less 

than a third of all deposit accounts, but in 1949 the 714 banks of this 

size held more than a half of all accounts.

Similarly, the proportion of total bank deposits held by banks in the 

various size groups has changed markedly. In 1949 banks with deposits 

of $1 million or less held only 1 percent of the deposits in all banks; in 

1936 banks of this size held 8 percent of total deposits. In contrast, banks 

with deposits of $25 million or more now hold 69 percent of the deposits 

of all insured banks; in 1936 banks of this size held 63 percent of the 

total. The distribution of deposits by size of bank on the special call 

dates is given in Table 40.

Table 40. D e p o s its in In s u r e d B a n k s, S p e c ia l C a l l D a t e s , 1936-1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Size of bank Sept. 30,

1949

Oct. 10,

1945

Sept. 24,

1941

Sept. 21,

1938

May 13,

1936

Total deposits (in m illions)........... $152,667 $140,603 $69,565 $49,224 $46,168

In banks with deposits of—

$250,000 or less.................................. 15 17 315 498 591

$250,000 to $1,000,000..................... 1,695 1,952 3,416 3,240 3,146

$1,000,000 to $5,000,000................. 18,227 17,166 8,796 7,248 6,632

$5,000,000 to $25,000,000............... 28,110 24,609 9,656 7,478 6,891

$25,000,000 to $100,000,000........... 23,769 21,138

Over $10Q,000,000............................. 80,851 75,721 ] 47,382 30,760 28,908

Percentage distribution— total. .. 100.0% 100.0% 100.0% 100.0% 100.0%

In banks with deposits of—

$250,000 or less.................................. .01 .01 .5 1.0 1.3

$250,000 to $1,000,000..................... 1.1 1.4 4.9 6.6 6.8

$1,000,000 to $5,000,000................. 12.0 12.2 12.6 14.7 14.4

$5,000,000 to $25,000,000............... 18.4 17.5 13.9 15.2 14.9

$25,000,000 to $100,000,000........... 15.6 15.0

Over $100,000,000............................. 52.9 53.9 J 68.1 62.5 62.6

Insured deposits and fully protected accounts by size of bank.

The shift in the distribution of banks by size has also altered the proportion of insured deposits and of fully protected accounts held in banks 

in the various size groups. In 1936 approximately two-fifths of insured 

deposits were in banks with deposits of less than $5 million; in 1949 

banks of this size held only one-fifth of all insured deposits. In 1936 onefifth of insured deposits was in banks with deposits from $5 million to 

$25 million; in 1949, one-fourth. In 1936 banks with deposits of more 

than $25 million held two-fifths of the insured deposits; in 1949 banks 

of this size held substantially over half of all insured deposits. The 

amounts of insured deposits on the various call dates, and their distribution among insured banks grouped by size, are given in Table 41.

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T a b le 4 1 . I n s u r e d D e p o s it s, Sp e c ia l C a l l D a t e s , 1936-1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Size of bank Sept. 30,

1949

Oct. 10,

1945

Sept. 24,

1941

Sept. 21,

1938

May 13,

1936

Insured deposits (in millions)—

total..................................................... $74,533 $65,859 $27,639 $22,610 $20,456

In banks with deposits of—

$250,000 or less.................................. 13 15 292 458 537

$250,000 to $1,000,000..................... 1,386 1,684 2,941 2,767 2,636

$1,000,000 to $5,000,000................. 13,430 13,252 6,641 5,545 4,956

$5,000,000 to $25,000,000............... 17,947 15,971 5,733 4,589 4,046

$25,000,000 to $100,000,000...........

Over $100,000,000.............................

12,530

29,227

10,923

24,014 } 12,032 9,251 8,281

Percentage distribution— total. .. 100.0% 100.0% 100.0% 100.0% 100.0%

In banks with deposits of—

$250,000 or less.................................. .02 .02 1.1 2.0 2.6

$250,000 to $1,000,000..................... 1.9 2.6 10.6 12.3 12.9

$1,000,000 to $5,000,000................. 18.0 20.1 24.0 24.5 24.2

$5,000,000 to $25,000,000............... 24.1 24.2 20.8 20.3 19.8

$25,000,000 to $100,000,000...........

Over $100,000,000.............................

16.8

39.2

16.6

36.5 } 43.5 40.9 40.5

The distribution of fully protected accounts among banks is similar 

to that of all accounts. This is due to the fact that in banks of all size 

groups a very high percentage of accounts have balances of less than 

$5,000. The number of accounts in the banks in the various size groups 

fully protected by insurance and the percentage distribution, on the 

special call dates, are shown in Table 42.

T a b le 4 2 . D e p o s it A c co u n ts F u l l y P r o t ec te d b y I n s u r a n c e ,

Sp e c ia l Ca l l D a t e s , 1936-1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Size of bank Sept. 30,

1949

Oct. 10,

1945

Sept. 24,

1941

Sept. 21,

1938

May 13,

1936

Number of fully protected accounts (in thousands)— total1. . 99,563 88,988 68,165 61,690 57,817

In banks with deposits of—

$250,000 or less.................................. 30 31 1,191 2,161 2,671

$250,000 to $1,000,000..................... 2,301 2,777 9,385 10,140 10,257

$1,000,000 to $5,000,000................. 19,858 19,945 19,312 17,763 16,330

$5,000,000 to $25,000,000............... 26,535 23,612 14,666 12,614 11,101

$25,000,000 to $100,000,000...........

Over $100,000,000.............................

16,975

33,864

14,864

27,759 } 23,611 19,012 17,458

Percentage distribution— total. . . 100.0% 100.0% 100.0% 100.0% 100.0%

In banks with deposits of—

$250,000 or less.................................. .03 .03 1.8 3.5 4.6

$250,000 to $1,000,000..................... 2.3 3.1 13.8 16.4 17.7

$1,000,000 to $5,000,000................. 20.0 22.4 28.3 28.8 28.3

$5,000,000 to $25,000,000............... 26.7 26.6 21.5 20.5 19.2

$25,000,000 to $100,000,000...........

Over $100,000,000.............................

17.0

34.0

16.7

31.2 } 34.6 30.8 30.2

1 Accounts of $5,000 or less.

Since the beginning of deposit insurance, small banks have had a 

larger percentage of deposits insured than have large banks. Likewise, 

a larger percentage of accounts in small banks than in large banks are

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fully protected. In 1949 banks with deposits of less than $1 million 

had over four-fifths of their deposits insured, while banks with deposits 

of more than $100 million had less than two-fifths of their deposits 

insured. Similarly, small banks had a larger proportion of their accounts 

fully protected, under the $5,000 limitation, than did large banks, 

though the difference is less striking than in the case of deposits.

Chart J shows the proportions of accounts and deposits fully insured 

in 1949 in banks in various size groups. The data for the special call 

dates are given in Table 43.

C h a r t J. P r o p o r t io n o f A c co u n ts F u l l y P r o t ec te d a n d D e p o s it s I n s u r e d

ALL INSURED BANKS, BY SIZE OF BANK, SEPTEMBER 30, 1949

LESS THAN $1 TO $5 $5 TO $25 $25 TO $100 OVER $100

$1 MILLION MILLION MILLION MILLION MILLION

SIZE OF BANK (AMOUNT OF DEPOSITS)

Banks and their deposits by population of center in which

located. A large proportion of all insured banks are located in relatively 

small centers of population. In 1949 nearly one-third were in communities 

which in 1940 had a population of less than 1,000, and more than onehalf in communities which had 1,000 to 25,000 inhabitants in 1940. Less 

than 3 percent of all insured banks were located in cities of 500,000 or 

more population in 1940. However, this latter group of banks held 

nearly a third of all accounts in insured banks and nearly a half of all 

the deposits. These figures exaggerate the concentration of accounts 

and deposits in large cities, due to the fact that in the case of banks 

operating branches all accounts and deposits in all offices of the bank 

are tabulated according to the population of the head office city.

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Table 43. P r o p o r tio n s o f D e p o s its In su r e d an d o f A c c o u n ts

F u l l y P r o t e c t e d , S p e c ia l C a l l D a t e s , 1936-1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Size of bank Sept. 30,

1949

Oct. 10,

1945

Sept. 24,

1941

Sept. 21,

1938

May 13,

1936

Percent of deposits insured— total 48.8% 46.8% 39.7% 45.9% 44.3%

In banks with deposits of—

$250,000 or less.................................. 98.2 89.7 97.2 92.0 90.9

$250,000 to $1,000,000..................... 81.8 86.3 86.1 85.4 83.8

$1,000,000 to $5,000,000................. 73.7 77.2 75.5 76.5 74.7

$5,000,000 to $25,000,000............... 63.8 64.9 59.4 61.4 58.7

$25,000,000 to $100,000,000...........

Over $100,000,000.............................

52.7

36.1

51.7

31.7 } 25.4 30.1 28.6

Percentage of accounts fully protected— total1........................... 95.7 96.4 98.1 98.3 98.4

In banks with deposits of—

$250,000 or less.................................. 96.8 100.0 99.6 99.6 99.6

$250,000 to $1,000,000..................... 97.6 98.1 99.2 99.3 99.3

$1,000,000 to $5,000,000................. 96.7 97.3 98.7 98.9 98.9

$5,000,000 to $25,000,000............... 96.4 96.9 98.2 98.4 98.3

$25,000,000 to $100,000,000...........

Over $100,000,000.............................

95.8

94.5

96.3

95.1 } 96.8 97.2 97.1

1 Accounts of $5,000 or less.

A tabulation by size of the centers in which the offices themselves 

are located is not possible because the deposits are reported for each 

bank as a whole and not for each office. Table 44 shows the number of 

insured banks, the number of their accounts, and the amount of their 

deposits, grouped by the population of the city or town in which the 

bank, or its head office in the case of branch banking systems, is located.

Table 44. A c c o u n ts an d D e p o sits, a l l In s u r e d B a n k s, S e p te m b e r 30, 1949

BANKS GROUPED BY POPULATION OF CENTER IN WHICH LOCATED1

Insured banks Percent of total

Number

of

banks

Number of

deposit

accounts

(in

thousands)

Deposits

(in

millions)

Number

of

banks

Deposit

accounts

Deposits

T otal............................................ 13,631 $104,003 $152,667 100.0% 100.0% 100.0%

Banks in centers with

population in 1940 of—

Less than 1,000...................... 4,279 5,912 5,378 31.4 5.7 3.5

1,000 to 5,000......................... 4,763 13,923 12,927 34.9 13.4 8.5

5,000 to 25,000...................... 2,666 17,930 17,993 19.6 17.3 11.8

25,000 to 100,000.................. 942 15,125 17,313 6.9 14.5 11.3

100,000 to 500,000................ 589 17,594 27,633 4.3 16.9 18.1

500,000 or more..................... 392 33,519 71,423 2.9 32.2 46.8

1 In the case of banks operating branches, the grouping is by center in which the head office is

located.

Accounts and deposits by type of account. In 1949 almost 94 

percent of the deposit accounts reported by insured banks were those 

of individuals, partnerships, and corporations. The remaining 6 percent

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of deposit accounts included all accounts of Federal, State, and local 

governments, the accounts of banks, and such miscellaneous items as 

uninvested trust funds and officers’ and travelers’ checks. However, 

this miscellaneous group of deposit accounts, largely because of the size 

of interbank and government accounts, amounted to 18 percent of all 

the deposits of insured banks.

About two-fifths of the accounts of individuals, partnerships, and 

corporations were demand accounts. Over three-fifths of the deposits 

of individuals, partnerships, and corporations were in these accounts, 

reflecting the fact that most of the very large bank accounts are demand 

accounts.

There has been a relatively small shift since 1936 in the distribution 

of accounts and deposits by type. The largest change is in the proportion of deposits in interbank accounts, which has declined from 14 to 7 

percent, with a corresponding slight rise in the proportion of deposits 

in the accounts of governments and of individuals, partnerships, and 

corporations. The number of deposit accounts, by type, on the special 

call dates is given in Table 45; a similar distribution of the amount of 

deposits in the various types of accounts is given in Table 46. The average 

size of account in each type on the special call dates is given in Table 47.

Table 45. N u m b e r op D e p o s it A c c o u n ts b y T y p e , a l l In s u r e d B a n k s, 1936-1949

Call date Total

Accounts of

individuals,

partnerships, and

corporations

Government Interbank

accounts

Other

accounts1

Demand Savings

and time

accounts

Total number of accounts

(in thousands)

Sept. 30, 1949........................ 104,003 40,699 56,971 293 127 5,913

Oct. 10, 1945.......................... 92,334 35,622 51,509 292 103 4,808

Sept. 24, 1941........................ 69,494 26,293 39,875 274 104 2,948

Sept. 21, 1938........................ 62,731 23,772 35,630 267 97 2,965

May 31, 1936......................... 58,785 22,109 33,915 259 115 2,387

Percentage distribution

Sept. 30, 1949........................ 100.0% 39.1% 54.8% .3% .1% 5.7%

Oct. 10, 1945.......................... 100.0 38.6 55.8 .3 .1 5.2

Sept. 24, 1941........................ 100.0 37.8 57.4 .4 .2 4.2

Sept. 21, 1938........................ 100.0 37.9 56.8 .4 .2 4.7

May 31, 1936......................... 100.0 37.6 57.7 .4 .2 4.1

1 Includes uninvested trust fund accounts as recorded in trust departments of insured banks,

outstanding bank drafts, certified and officers' checks, cash letters of credit and travelers’ checks outstanding, and deposit accounts not elsewhere classified.

Accounts and deposits by class of bank. Of the total number of 

insured banks on September 30, 1949, 191 were mutual savings banks. 

The remainder were classified as commercial banks because most of 

them accept demand deposit accounts from business enterprises and 

individuals and also make business and personal loans. However, the 

13,440 banks which are tabulated as commercial banks included a few

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68 FEDERAL DEPOSIT INSURANCE CORPORATION

stock savings banks, a very small number of trust companies engaged 

in fiduciary business but not in regular deposit banking, and some other 

banks, such as the so-called “industrial banks” , which specialize in 

certain types of business, either with respect to their deposits or their 

assets. Table 48 shows the accounts and deposits in commercial and 

mutual savings banks respectively, with the commercial banks also 

classified by chartering authority and Federal Reserve membership.

T a b le 4 6 . A m o u n t of D e p o sit s b y T y p e , a l l I n s u r e d B a n k s , 1936-1949

Call date Total

Accounts of

individuals,

partnerships, and

corporations

Government Interbank

deposits

Other

deposits1

Demand Savings

and time

deposits

Am ount of deposits

(in millions)

Sept. 30, 1949........................

Oct. 10, 1945..........................

Sept. 24, 1941........................

Sept. 21, 1938........................

May 31, 1936.........................

$152,667

140,603

69,566

49,223

46,168

$77,790

71,887

34,199

21,973

19,738

$46,941

38,263

16,555

14,611

13,536

$11,743

13,163

4,999

3,956

4,526

$11,339

12,999

11,056

6,798

6,316

$4,854

4,291

2,757

1,885

2,052

Percentage distribution

Sept. 30, 1949........................

Oct. 10, 1945..........................

Sept. 24, 1941........................

Sept. 21, 1938........................

May 31, 1936.........................

100.0%

100.0

100.0

100.0

100.0

51.0%

51.1

49.1

44.7

42.8

30.7%

27.2

23.8

29.7

29.3

7.7%

9.4

7.2

8.0

9.8

7.4%

9.2

15.9

13.8

13.7

3.2%

3.1

4.0

3.8

4.4

1 Includes uninvested trust funds as recorded in trust departments of insured banks, outstanding

bank drafts, certified and officers’ checks, cash letters of credit and travelers’ checks outstanding, and

deposits not elsewhere classified.

T a b le 4 7 . A v e r a g e Siz e o f A c co u n t b y T y p e , a l l I n s u r e d B a n k s , 1936-1949

Call date

Accounts of individuals,

partnerships, and

corporations Government

accounts

Interbank

accounts

Other

accounts1

Demand Savings

and time

Sept. 30, 1949.............................. $1,911 $824 $40,078 $ 89,283 $821

Oct. 10, 1945................................ 2,016 743 45,078 12,620 892

Sept. 24, 1941.............................. 1,301 415 18,245 106,308 935

Sept. 21, 1938.............................. 924 410 14,816 70,082 636

May 31, 1936................................ 892 339 17,475 54,922 860

1 Includes uninvested trust fund accounts as recorded in trust departments of insured banks, outstanding bank drafts, certified and officers’ checks, cash letters of credit and travelers' checks outstanding, and deposit accounts not elsewhere classified.

In the insured mutual savings banks nine-tenths of the deposits are 

insured under the $5,000 limitation. In the insured commercial banks 

which are not members of the Federal Reserve System over two-thirds 

of deposits are insured, while in commercial banks which are members of 

that System only two-fifths are insured. This difference in the proportion 

of deposits insured reflects primarily the fact that almost all of the 

large commercial banks, holding the deposit accounts of large business 

enterprises, are members of the Federal Reserve System.

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Accounts and deposits in insured commercial banks. Insured 

commercial banks had in excess of 91 million accounts on September 

30, 1949. Almost 88 million of these accounts, or 96 percent, had balances 

of $5,000 or less. The number of accounts in each of the size groups, on 

the special call dates, is given in Table 49.

ACCOUNTS AND INSURED DEPOSITS IN ALL INSURED BANKS 69

Table 48. D is tr ib u tio n o f In su r e d B a n k s an d t h e i r A c c o u n ts an d D e p o s its

b y C la s s o f B a n k , S ep tem b er 30, 1949

Class of bank

Number

of

banks

Number of accounts

(in thousands)

Amount of deposits

(in millions) Percent of

accounts

fully

protected

Percent of

deposits

insured

Total Fully

protected1 Total Insured

All insured banks. . . .

M utual savings

13,631 104,003 99,564 $152,667 $74,533 95.7% 48.8%

banks..........................

Commercial banks—

191 12,551 11,768 13,416 12,122 93.8 90.4

tota l........................

National banks mem13,440 91,452 87,796 139,252 62,411 96.0 44.8

bers F. R. System.

State banks members

4,983 49,806 47,739 80,485 34,014 95.8 42.3

F. R. System........

Banks not members

1,917 21,170 20,247 39,696 15,253 95.6 38.4

F. R. System........ 6,540 20,476 19,810 19,070 13,144 96.7 68.9

1 Accounts of $5,000 or less.

Table 49. N u m b er o f A c c o u n ts in In su r e d C o m m erc ia l B a n k s

on S p e c ia l C a l l D a t e s , 1934-1949

g r o u p e d b y s ize o f a c c o u n t

Accounts of—

Call date Total

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

Over

$25,000

Number of accounts

(in thousands)

Sept. 30, 1949..........................

Oct. 10, 1945............................

Sept. 24, 1941..........................

Sept. 21, 1938..........................

91,452

81,655

66,918

61,392

87,796

78,773

65,668

60,399

2,248

1,729

698

565

895

722

314

254

513

431

238

174

May 13, 1936...........................

Oct. 1, 19341.............................

57,398

49,751

56,476

49,021

922

730

Percent of total accounts2

Sept. 30, 1949..........................

Oct. 10, 1945............................

Sept. 24, 1941..........................

Sept. 21, 1938..........................

100.0%

100.0

100.0

100.0

96.0%

96.5

98.1

98.4

2.5%

2.1

1.0

.9

1.0%

.9

.5

.4

.5%

.5

.4

.3

May 13, 1936...........................

Oct. 1, 1934..............................

100.0

100.0

98.4

98.5

1.6

1.5

1 Data for 1934 are not strictly comparable with those for subsequent dates due to combining of

accounts belonging to the same depositor.

2 Calculated from the original figures before rounding.

Total deposits in insured commercial banks on September 30, 1949, 

were in excess of $139 billion. Approximately $44 billion of these deposits, 

or 32 percent, were in accounts of $5,000 or less. Insured deposits were

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$62 billion, or 45 percent of total deposits. The distribution of deposits 

by size of accounts on the special call dates is given in Table 50.

Table 50. D e p o s its in In su r e d C o m m erc ia l B a n k s,

S p e c ia l C a l l D a t e s , 1934 to 1949

a c c o u n t s g r o u p e d b y size

Call date Total

In accounts of—

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

Over

$25,000

Deposits (in millions)

Sept. 30, 1949..........................

Oct. 10, 1945............................

Sept. 24, 1941..........................

Sept. 21, 1938..........................

May 13, 1936...........................

Oct. 1, 19341.............................

Percent of total deposits2

Sept. 30, 1949..........................

Oct. 10, 1945............................

Sept. 24, 1941..........................

Sept. 21, 1938..........................

$139,252

130,477

67,778

48,220

45,188

35,988

100.0%

100.0

100.0

100.0

100.0

100.0

$44,127

42,105

19,793

16,740

14,968

12,006

31.7%

32.3

29.2

34.7

33.1

33.4

$14,787

11,486

4,658

3,779

$13,328

10,782

4,779

3,876

$67,010

66,104

38,548

23,825

10.6%

8.8

6.9

7.8

30,220

23,982

9.6%

8.2

7.0

8.1

48.1%

50.7

56.9

49.4

May 13, 1936...........................

Oct. 1, 1934..............................

66.9

66.6

1 Data for 1934 are not strictly comparable with those for subsequent dates, due to the combining

of accounts belonging to the same depositor.

2 Calculated from the original figures before rounding.

The information obtained from the special call for September 30,

1949, as in the case of the other special calls, has been tabulated separately 

for insured commercial banks classified in several ways. These classifications are as follows: by Federal Deposit Insurance Corporation district, 

by State, by size of bank (amount of deposits), by population of the 

center in which the bank is located, by the percentage of deposits insured 

under the $5,000 limitation, and by chartering authority and Federal 

Reserve membership. In addition, the accounts and deposits have been 

tabulated with the accounts classified by type of deposit.

The deposits in insured commercial banks, distributed by type in 

banks grouped by size, are shown in Table 51. The various detailed 

distributions of the number of accounts in insured commercial banks 

are given on pages 80-89 (Tables 61-66); and the detailed distributions 

of the amounts of deposits in these accounts on pages 90-99 (Tables 

67-72).

Accounts and deposits in mutual savings banks. Insured mutual 

savings banks on September 30, 1949, reported a total of 12.6 million 

accounts and $13.4 billion of deposits. Of the accounts, 94 percent had 

balances of $5,000 or less. Of the deposits, 61 percent were insured under 

the $5,000 limitation.

The number of accounts and amount of deposits in insured mutual 

savings banks on the special call dates in 1945 and 1949, distributed

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according to size of account, are shown in Table 52. Detailed tabulations 

for accounts and deposits in mutual savings banks for 1949 are given on 

pages 100-103 (Tables 73-74).

Table 51. D is t r ib u t io n o f D e p o s its in In s u r e d C o m m erc ia l B a n k s A c c o r d in g

t o T y p e o f D e p o s it, S ep tem b er 30, 1949

BANKS GROUPED BY AMOUNT OF DEPOSITS

Total

Deposits of

individuals,

partnerships, and

corporations

Government Interbank

deposits

Other

deposits

Demand Savings

and time

deposits

Am ount of deposits (in

millions) all insured com ­

mercial banks..................... $139,252 $77,780 $33,577 $11,740 $11,339 $4,816

In banks with deposits of—

$250,000 or less..................... 15 11 2 1 V) 1

$250,000 to $1,000,000........ 1,695 1,142 378 135 3 37

$1,000,000 to $5,000,000. . . 18,147 10,665 5,537 1,463 80 402

$5,000,000 to $25,000,000. . 27,024 14,166

10,842

9,406 2,218 458 776

$25,000,000 to $100,000,000 20,838 5,722 2,008 1,455 811

More than $100,000,000----- 71,533 40,954 12,532 5,915 9,343 2,789

Percent of total— all banks 100.0% 55.9% 24.1% 8.4% 8.1% 3.5%

In banks with deposits of—

$250,000 or less..................... 100.0 75.6 12.2 7.3 .5 4.4

$250,000 to $1,000,000 , , , 100.0 67.4 22.3 8.0 .2 2.1

$1,000,000 to $5,000,000. . . 100.0 58.8 30.5 8.1 .4 2.2

$5,000,000 to $25,000,000. . 100.0 52.4 34.8 8.2 * 1.7 2.9

$25,000,000 to $100,000,000 100.0 52.0 27.5 9.6 7.0 3.9

More than $100,000,000----- 100.0 57.2 17.5 8.3 13.1 3.9

1 Less than $500,000.

Table 52. A c c o u n ts an d D e p o s its in In s u r e d M u t u a l S a v in g s B a n k s,

S p e c ia l C a l l D a t e s , 1949 an d 1945

GROUPED BY SIZE OF ACCOUNT

Total

Accounts of—

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

Over

$25,000

Number of accounts (in thousands)

September 30, 1949...................................... 12,551 11,768 747 35 1

October 10, 1945.......................................... 10,678 10,215 441 21 1

Percent of total accounts1

September 30, 1949...................................... 100.0% 93.8% 5.9% .3% .01%

October 10, 1945.......................................... 100.0 95.7 4.1 .2 .01

Amount of deposits (in millions)

September 30, 1949...................................... $13,416 $ 8,210 $ 4,722 $441 $ 43

October 10, 1945.......................................... 10,126 7,032 2,797 268 29

Percent of total deposits1

September 30, 1949...................................... 100.0% 61.2% 35.2% 3.3% .3%

October 10, 1945.......................................... 100.0 69.4 27.6 2.7 .3

Average size of account

September 30, 1949...................................... $ 1,069 $698 $ 6,325 $12,705 $39,724

October 10, 1945.......................................... 948 688 6,347 12,603 40,666

1 Calculated from original figures before rounding.

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I n s u r a n c e P r o t e c t i o n U n d e r C o v e r a g e s f o r E a c h A c c o u n t o f 

$5,000, $10,000, a n d $25,000, A l l I n s u r e d B a n k s

Under the permanent plan of deposit insurance embodied in the 

original law enacted in 1933 each depositor was to be protected as follows: 

the full amount of his deposits not exceeding $10,000, plus three-fourths 

of the amount which exceeded $10,000 but not over $50,000, plus onehalf of the amount exceeding $50,000. In cases where one depositor 

owned two or more accounts in one bank in the same capacity or the 

same right the accounts were to be combined in determining the insurance coverage. This plan of deposit insurance was scheduled to become 

effective on July 1, 1934. However, in June of that year the effective 

date was postponed, and finally, in the Banking Act of 1935, the permanent plan of deposit insurance was revised.1 Under the revised plan 

insurance protection was limited to $5,000 for each depositor in the same 

right and capacity.

The information collected by the Federal Deposit Insurance Corporation in its special surveys of deposits is not sufficient to make possible 

a comparison of the protection afforded by deposit insurance under the 

revised insurance plan which went into effect in 1935 with that which 

would have been provided under the original permanent plan. However, 

it is possible to compare the protection afforded under the $5,000 limitation with that which would have been provided by coverages of $10,000 

and $25,000 respectively.

Under the limitation of insurance to $5,000 per account there were 

nearly 100 million accounts out of 104 million, or 95.7 percent, fully 

protected on September 30, 1949. With a coverage of $10,000 per account,

98.6 percent would have been fully protected; and with a coverage of 

$25,000 per account, 99.5 percent.

On the same date insured banks held total deposits of $153 billion, 

of which nearly $75 billion, or 48.8 percent were insured. Under coverages 

of $10,000 and $25,000 this proportion would have been raised respectively to 56.5 percent and 64.5 percent.

Expansion of insurance protection from $5,000 to $10,000 per depositor 

would add an additional 3 million accounts to those fully protected. 

At the same time it would increase the amount of deposits insured by 

the Corporation by nearly $12 billion.

Extension of insurance coverage from $10,000 to $25,000 would add 

less than a million accounts to the number fully protected, and would 

increase the amount of insured deposits by an additional $12 billion. 

The net effect of an increase in coverage from $5,000 to $25,000 per

1 During the period from January 1, 1934, to the effective date of the Banking Act of 1935, deposit

insurance was provided under a temporary plan. See page 57, note 3.

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INSURANCE PROTECTION WITH SPECIFIED COVERAGE 73

account would be to increase by 4 percent the number of accounts fully 

protected and by 32 percent the amount of insured deposits.

An extension of the insurance program from the present $5,000 limitation to full coverage of all deposits would add only 4.5 million accounts 

to the number fully protected, but it would increase the insured deposits 

by $78 billion. In other words, there would be an increase in the number 

of accounts protected of 4 percent, but the insurance liability of the 

Corporation would be more than doubled.

It will be noted in all cases that as insurance coverage is extended, 

there is very little change in the number of accounts fully protected, 

but there is a very substantial increase in the amount of deposits insured. 

This is illustrated in Chart K.

C h a r t K . A c co u n ts F u l l y P r o t ec te d a n d D e p o sit s I n s u r e d W it h M a x im u m

C o v e r a g e s o f $5,000, $10,000, $25,000, a n d A l l D e p o sit s

a l l in s u r e d b a n k s , SEPTEMBER 30, 1949

p e rc e n t ACCOUNTS FULLY PROTECTED

100-

DEPOSITS INSURED

$5,000 $10,000 $25,000 ALL

DEPOSITS

MAXIM UM COVERAGE PER DEPOSITOR

$5,000 $10,000 $25,000 ALL

DEPOSITS

M AXIM UM COVERAGE PER DEPOSITOR

Figures for the accounts fully protected by deposit insurance on each 

of the special call dates, and for the number which would have been 

fully protected under limitations of $10,000 and $25,000 on the special 

call dates in 1938, 1941, 1945, and 1949, are given in Table 53. The data 

for deposits insured on each of the special call dates, and the amounts 

that would have been protected under limitations of $10,000 and $25,000, 

on the special call dates since 1938, are given in Table 54.

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Table 53. A c c o u n t s F u l l y a n d Pa r t ia l l y P r o t e c te d w it h M a x im u m C o v e r a g e s

p e r A c c o u n t o f $5,000, $10,000 a n d $25,000, a l l I n s u r e d B a n k s , 1934-1949

Call date Total

With coverage of

$5,000 per account

With coverage of

$10,000 per account

With coverage of

$25,000 per account

Fully

protected

Partially

protected

Fully

protected

Partially

protected

Fully

protected

Partially

protected

Number of accounts (in

thousands)

Sept. 30, 1949... 104,003 99,564 4,439 102,559 1,444 103,489 514

Oct. 10, 1945. . . 92,334 88,989 3,345 91,159 1,175 91,902 432

Sept. 24, 1941... 69,494 68,165 1,329 68,933 561 69,255 239

Sept. 21, 1938... 62,731 61,690 1,041 62,299 432 62,557 174

May 13, 1936... 58,785 57,817 968 0) 0) (x) (l)

Oct. 1, 19342. .. . 51,246 50,423 823 0) 0) 0 C1)

Percent of total

Sept. 30,1949... 100.0% 95.7% 4.8% 98.6% 1.4% 99.5% .5%

Oct. 10, 1945. .. 100.0 96.4 3.6 98.7 1.3 99.5 .5

Sept. 24, 1941... 100.0 98.1 1.9 99.2 .8 99.7 .3

Sept. 21,1938... 100.0 98.3 1.7 99.3 .7 99.7 .3

May 13, 1936... 100.0 98.4 1.6 (l) 0) V) 0)

Oct. 1, 1934. . . . 100.0 98.4 1.6 (l) 0) 0) 0)

1 Not available.

2 Data for this date are not strictly comparable with those for later years because of the combining

of accounts belonging to the same depositor.

Table 54. I n s u r e d a n d U n in s u r e d D e p o sit s w it h M a x im u m C o v e r a g e s p e r

A c c o u n t o f $5,000, $10,000 a n d $25,000, a l l I n s u r e d B a n k s , 1934-1949

Call date Total

With coverage of

$5,000 per account

With coverage of

$10,000 per account

With coverage of

$25,000 per account

Insured Not

insured Insured Notinsured Insured Not

insured

Deposits

(in millions)

Sept. 30, 1949...

Oct. 10, 1945. . .

Sept. 24, 1941...

Sept. 21, 1938...

May 13, 1936.. .

Oct. 1, 19342....

$152,667

140,603

69,566

49,223

46,168

37,026

$74,533

65,859

27,639

22,610

20,456

16,571

$78,134

74,744

41,927

26,613

25,712

20,455

$86,109

75,169

31,718

25,792

0)

«

$66,558

65,434

37,848

23,431

0)

(!)

$98,464

85,257

36,973

29,742

0)

0)

$54,203

55,346

32,593

19,481

0)

0)

Percent of total

Sept. 30, 1949...

Oct. 10, 1945. . .

Sept. 24, 1941...

Sept. 21, 1938...

May 13, 1936...

Oct. 1, 1934. . . .

100.0%

100.0

100.0

100.0

100.0

100.0

48.8%

46.8

39.7

45.9

44.3

44.6

51.2%

53.2

60.3

54.1

55.7

55.4

56.4%

53.4

45.5

52.4

(^

(*)

43.6%

46.6

54.5

47.6

V)

C1)

64.5%

60.6

53.1

60.4

(*)

35.5%

39.4

46.9

39.6

0)

01)

1 Not available.

2 Data for this date relate to depositors: i.e., accounts of a depositor in the same right and capacity

are combined. The amount of deposits insured with coverage of $5,000 per depositor, as given here,

is slightly larger than the actual insurance coverage on that date, given in Table 37, because the actual

coverage was limited to $2,500 in part of the insured mutual savings banks. See the Annual Report of

the^Corporation for 1934, p. 244.

Effect of increased coverage on accounts and deposits in banks

grouped by size and by population of center. The effects of increased 

coverage on the accounts and deposits of banks grouped by size are given 

in Table 55. In all the size groups an increase in coverage from $5,000 

to $10,000 would raise the percentage of accounts fully protected to at

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least 98 percent; and an increase to $25,000 would further increase it to 

more than 99 percent in every size group.

Table 55. A c c o u n t s F u l l y P r o t e c te d w it h M a x im u m C o v e r a g e s p e r A c c o u n t

o f $5,000, $10,000, a n d $25,000, Se p t e m b e r 30, 1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Accounts (in thousands)

fully protected with coverage of—

$5,000 $10,000 $25,000 All

deposits

All Insured banks— total................................................ $99,564 $102,559 $103,489 $104,003

In banks with deposits of—

$250,000 or less.................................................................. 30 30 31 31

$250,000 to $1,000,000..................................................... 2,301 2,343 2,355 2,358

$1,000,000 to $5,000,000................................................. 19,859 20,328 20,488 20,536

$5,000,000 to $25,000,000............................................... 26,535 27,194 27,422 27,519

$25,000,000 to $100,000,000.......................................... 16,975 17,477

35,187

17,630 17,721

Over $100,000,000............................................................. 33,864 35,563 35,838

Percent of accounts fully protected— all banks1.. 97.5% 98.6% 99.5% 100.0%

In banks with deposits of—

$250,000 or less.................................................................. 98.7 99.7 99.9 100.0

$250,000 to $1,000,000..................................................... 97.6 99.4 99.9 100.0

$1,000,000 to $5,000,000................................................. 96.7 99.0 99.8 100.0

$5,000,000 to $25,000,000............................................... 96.4 98.8 99.6 100.0

$25,000,000 to $100,000,000.......................................... 95.8 98.6 99.5 100.0

Over $100,000,000............................................................. 94.5 98.2 99.2 100.0

1 Calculated from the original figures before rounding.

The effect of increased coverage on the amount of deposits insured, 

for banks in each size group, is shown in Table 56.

Table 56. A m o u n t o f D e p o sit s I n s u r e d w it h M a x im u m C o v e r a g e s pe r A c c o u n t

o f $5,000, $10,000, a n d $25,000, Se p t e m b e r 30, 1949

ALL INSURED BANKS GROUPED BY AMOUNT OF DEPOSITS

Deposits (in millions)

insured with coverage of—

$5,000 $10,000 $25,000 All

deposits

All insured banks— total................................................. $74,533 $86,288 $98,464 $152,667

In banks with deposits of—

$250,000 or less.................................................................. 13 14 15 15

$250,000 to $1,000,000..................................................... 1,387 1,529 1,628 1,695

$1,000,000 to $5,000,000................................................. 13,429 15,215 16,677 18,227

$5,000,000 to $25,000,000............................................... 17,946 20,583 23,122 28,110

$25,000,000 to $100,000,000........................................... 12,531 14,507 16,578 23,769

Over $100,000,000............................................................. 29,227 34,440 40,444 80,851

Percent of deposits insured— all banks1................... 48.8% 56.5% 64.5% 100.0%

In banks with deposits of—

$250,000 or less.................................................................. 88.2 94.6 98.7 100.0

$250,000 to $1,000,000..................................................... 81.8 90.2 96.0 100.0

$1,000,000 to $5,000,000................................................. 73.7 83.5 91.5 100.0

$5,000,000 to $25,000,000............................................... 63.8 73.2 82.3 100.0

$25,000,000 to $100,000,000.......................................... 52.7 61.0 69.7 100.0

Over $100,000,000............................................................. 36.1 42.6 50.0 100.0

1 Calculated from the original figures before rounding.

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Increasing the insurance coverage would have a relatively greater 

effect on the amount of deposits insured, particularly in the larger banks. 

In banks with more than $100 million of deposits, raising the coverage 

to $10,000 would increase the proportion of deposits insured from 36 

percent to 43 percent, while increasing the coverage to $25,000 would 

raise this percentage to 50 percent. In the case of banks with less than 

$1 million of deposits increasing the coverage from $5,000 to $10,000 

would increase the proportion of deposits insured from 82 percent to 

90 percent, and raising the coverage to $25,000 would increase it to 96 

percent.

When banks are grouped by size of city the percentage of deposits 

insured in 1949 under the $5,000 limitation ranges from 77 percent in 

the case of banks wThich are located in places of less than 1,000 inhabitants 

in 1940 to 39 percent in the case of banks which are located, or which 

have their head offices located, in cities of 500,000 or more in 1940. 

If coverage were increased to $10,000 the percentage of deposits insured 

would range from 87 percent in places of less than 1,000 inhabitants to 

45 percent in cities of 500,000 or more; with an increase in coverage to 

$25,000 the range would be from 94 percent to 52 percent. Figures by 

size of center in which banks are located are given in Table 57.

Table 57. D ep o sit s I n s u r e d w it h M a x im u m C o v e r a g e s p e r A c c o u n t of

$5,000, $10,000, a n d $25,000, Se p t e m b e r 30, 1949

ALL INSURED BANKS GROUPED BY POPULATION OF CENTER IN WHICH LOCATED

Deposits (in millions)

insured with coverage of—

All insured banks............................................................

Banks in centers with population in 1940 ofLess than 1,000.............................................................

1.000 to 5,000..................................................................

5.000 to 25,000................................................................

25.000 to 100,000............................................................

100.000 to 500,000..........................................................

500.000 or more.............................................................

Percent of deposits insured— all banks1...............

Banks in centers with population in 1940 ofLess than 1,000.............................................................

1.000.to 5,000................................................................

5.000 to 25,000..............................................................

25.000 to 100,000..........................................................

100.000 to 500,000........................................................

500.000 or more.............................................................

$5,000

$74,533

4,138

9,330

11,639

9,697

11,994

27,735

48.8%

76.9

72.2

64.7

56.0

43.4

38.8

$10,000

$86,288

4,659

10,612

13,365

11,200

14,044

32,408

56.5%

86.6

82.1

74.3

64.7

50.8

45.4

$25,000

$98,464

5,032

11,679

14,994

12,806

16,493

37,460

64.5%

93.6

90.3

83.3

74.0

59.7

52.4

All

deposits

$152,667

5,378

12,927

17,993

17,313

27,633

71,423

100.0%

100.0

100.0

100.0

100.0

100.0

100.0

1 Calculated from the original figures before rounding.

Effect of increased coverage on fully protected accounts and

insured deposits classified by type. In terms of fully protected accounts an increase in coverage would have less effect on savings and time

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deposits of individuals, partnerships, and corporations than on other 

types of deposits. This is because the coverage under the $5,000 limitation is already higher for this type of deposit than for others. Under the 

$5,000 limitation 96.3 percent of savings and time accounts were fully 

protected; under $10,000 coverage this would be increased to 99.5 percent, and under $25,000 to 99.9 percent. In the case of demand accounts 

of individuals, partnerships, and corporations changes in coverage would 

raise the percentage of accounts fully protected from 95.1 percent under 

$5,000 to 97.6 percent under $10,000 and 99.1 percent under $25,000. 

These figures and also the effects of increase in coverage on government, 

interbank, and other accounts are given in Table 58.

Table 58. A c c o u n t s F u l l y P r o t e c t e d w it h M a x im u m C o v e r a g e s p e r A c c o u n t

o f $5,000, $10,000, a n d $25,000, A l l I n s u r e d B a n k s , Se p t e m b e r 30, 1949

a c c o u n t s g r o u p e d b y t y p e o f d e p o sit

Type of deposit

Accounts (in thousands)

fully protected with coverage of—

$5,000 $10,000 $25,000 All

deposits

All types of deposits...................................... 99,564 102,559 103,489 104,003

Deposits of individuals, partnerships,

porations:

Demand........................................................

Savings and time........................................

Government deposits.....................................

Interbank deposits.........................................

Other deposits.................................................

and cor38,685

54,836

200

37

5,806

39,740

56,689

227

48

5,855

40,343

56,938

253

67

5,888

40,699

56,971

293

127

5,913

Percent of accounts fully protected— total1...........

Deposits of individuals, partnerships, and corporations:

Demand...........................................................................

Savings and time...........................................................

Government deposits.......................................................

Interbank deposits............................................................

Other deposits....................................................................

95.7%

95.1

96.3

68.1

29.2

98.2

98.6%

97.6

99.5

77.4

37.7

99.0

99.5%

99.1

99.9

86.3

52.7

99.6

100.0%

100.0

100.0

100.0

100.0

100.0

1 Calculated from the original figures before rounding.

Substantial changes in the percentage of deposits insured would result 

from changes in coverage. A rise in coverage to $10,000 would increase 

the proportion of savings and time deposits insured from 87 percent to 

97 percent; if coverage were $25,000 the proportion would be 98 percent. 

For demand deposits of individuals, partnerships, and corporations the 

coverage of 40 percent under the $5,000 limitation would be raised to 

48 percent under $10,000, and to 59 percent under $25,000. These figures 

and also the effects of increase in coverage on government, interbank, 

and miscellaneous deposits are given in Table 59.

Effect of increase in coverage on insured commercial banks.

Under the $5,000 limitation insured commercial banks had 96.0 percent 

of their accounts fully protected and 44.8 percent of their deposits insured

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78 FEDERAL DEPOSIT INSURANCE CORPORATION

on September 30, 1949. An expansion of insurance coverage to $10,000 

would have increased the proportion of accounts fully protected to 98.5 

percent and deposits insured to 52.4 percent. Extension of insurance to 

$25,000 per account would increase the proportion of accounts fully 

protected to 99.4 percent and the deposits insured to 61.1 percent.

Table 59. D e p o sit s I n s u r e d w it h M a x im u m C o v e r a g e s p e r A c c o u n t o f $5,000, 

$10,000, a n d $25,000, a l l I n s u r e d B a n k s , Se p t e m b e r 30, 1949

a c c o u n t s g r o u p e d b y t y p e o f d e p o s it

Type of deposit

Deposits (in millions)

insured with coverage of—

$5,000 $10,000 $25,000 All

deposits

All types of deposits.........................................................

Deposits of individuals, partnerships, and corporations:

Demand.................. ........................................................

Savings and time...........................................................

Government deposits........................................................

Interbank deposits............................................................

Other deposits....................................................................

Percent of deposits insured— total1............................

Deposits of individuals, partnerships, and corporations:

Demand.................. ........................................................

Savings and time...........................................................

Government deposits.......................................................

Interbank deposits............................................................

Other deposits....................................................................

$74,533

30,834

40,848

723

496

1,632

48.8%

39.6

87.0

6.2

4.4

33.6

$86,288

37,622

44,611

1,114

921

2,020

56.5%

48.4

96.8

9.5

8.1

41.6

$98,464

46,078

45,975

1,884

1,956

2,571

64.5%

59.2

97.9

16.0

17.3

53.0

$152,667

77,790

46,941

11,743

11,339

4,854

100.0%

100.0

100.0

100.0

100.0

100.0

1 Calculated from the original figures before rounding.

Under the insurance coverage of $5,000 on September 30, 1949, there 

were nine insured commercial banks in which all deposits were insured 

and 755 in which from 90 to 99 percent of deposits were insured. Most 

of the banks had percentages of their deposits insured ranging from 60 

to 90, but there were 103 banks which fell in the group of only 20 to 29 

percent and 60 which had less than 20 percent of their deposits insured. 

Corresponding distributions under insurance coverages of $10,000 or 

$25,000 have not been prepared. However, Table 60 shows what effect 

the increased coverages would have upon the percentages of deposits 

insured in the banks grouped according to the proportions insured under 

the $5,000 limitation. The 60 banks, for example, each of which had 

less than 20 percent of their deposits insured under the $5,000 limitation, 

had an average of 12 percent of their deposits insured under that limitation. These banks on the average would have 16 percent of their deposits 

insured under a $10,000 limitation and 23 percent under the coverage 

of $25,000.

Detailed figures on the fully protected accounts and insured deposits 

of insured commercial banks under insurance coverages of $5,000, 

$10,000, and $25,000 respectively, for banks located in each State and

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INSURANCE PROTECTION WITH SPECIFIED COVERAGE 79

Federal Deposit Insurance Corporation district, are given on pages 104-

OS (Table 75). Similar data for insured commercial banks grouped by size 

of bank, by population of center in which located, by percent of deposits 

insured under the $5,000 limitation, and by chartering authority and 

Federal Reserve membership, are given on pages 106-07 (Table 76).

T a b le 6 0 . E f f e c t o f I n c r e a s e d I n s u r a n c e C o v e r a g e o n I n s u r e d D e p o s it s,

Se p t e m b e r 30, 1949

in s u r e d c o m m e r c ia l b a n k s g r o u p e d b y p e r c e n t of d e p o sit s in s u r e d u n d e r

$ 5 ,000 PER ACCOUNT

Number

of

banks

Amount

of

deposits

(in

millions)

Percent of deposits insured

with coverage of—

$5,000 $10,000 $25,000 All

deposits

Banks with percent of deposits insured (under

$5,000 limitation) of—

100 percent............................. 9 $ 3 100.0% 100.0% 100.0% 100.0%

90 to 99 percent..................... 755 729 93.0 97.9 99.7 100.0

80 to 89 percent..................... 3,568 7,199

15,928

83.8 91.9 97.0 100.0

70 to 79 percent..................... 4,355 74.8 84.2 91.7 100.0

60 to 69 percent..................... 2,773 17,772 65.1 74.9 84.2 100.0

50 to 59 percent..................... 1,201 25,248 54.9 64.1 73.4 100.0

40 to 49 percent..................... 398 12,178 45.3 53.9 64.5 100.0

30 to 39 percent..................... 218 16,945 34.1 41.4 51.4 100.0

20 to 29 percent..................... 103 15,398 24.7 30.9 40.1 100.0

Less than 20 percent............ 60 27,853 11.7 15.9 23.4 100.0

Effect of increase in coverage on insured mutual savings banks.

Under the $5,000 limitation in effect on September 30, 1949, 93.8 percent 

of accounts in insured mutual savings banks were fully protected. An 

increase in coverage to $10,000 would have provided full protection to

99.7 percent of accounts; an increase to $25,000, full protection to 99.99 

percent of all accounts.

Under the $5,000 limitation, 90.4 percent of the deposits in mutual 

savings banks were insured on September 30, 1949. Increase in coverage 

to $10,000 would raise the proportion of deposits insured to 99.1 percent and a coverage of $25,000 to 99.9 percent. Detailed figures showing 

the effect of increased insurance coverage on mutual savings banks 

are given on pages 108-09 (Table 77).

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D e t a il e d T a b l e s : D is t r ib u t io n of A c c o u n t s of I n s u r e d C o m m e r c ia l B a n k s A c c o r d in g to Siz e o f A c c o u n t

Table 61. D is t r ib u t io n o f A cco u n ts A cco r d in g to Siz e , I n s u r e d C o m m e r c ia l B a n k s , Se p t e m b e r 30, 1949

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

Number of accounts Percent of total accounts

FDIC District and State Number

of banks

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More

than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More

than

$25,000

United States and possessions 13,440 91,452,455 87,795,611 2,248,385 895,570 512,889 96.0% 2.5% 1.0% •5%

United States........................... 13,434 91,408,021 87,752,822 2,247,207 895,234 512,758 96.0 2.5 1.0 .5

Possessions................................ 6 44,434 42,789 1,178 336 131 96.3 2.6 .8 .3

District 1 ................................. 465 5,168,312 4,996,354 101,155 42,006 28,797 96.7 1.9 .8 .6

District 2 ................................. 1,007 13,507,158 12,874,427 352,463 157,431 122,837 95.3 2.6 1.2 .9

District 3 ................................. 1,609 12,606,479 12,148,816 290,842 107,470 59,351 96.4 2.3 .8 .5

District 4 ................................. 1,030 7,001,422 6,797,337 124,059 50,757 29,269 97.1 1.8 .7 .4

District 5................................. 936 4,465,604 4,309,284 94,444 39,862 22,014 96.5 2.1 .9 .5

District 6 ................................. 1,440 6,190,093 5,973,744 130,186 53,362 32,801 96.5 2.1 .9 .5

District 7 .................................. 1,436 8,676,458 8,351,717 218,552 71,765 34,424 96.3 2.5 .8 .4

District 8 .................................. 1,479 7,853,495 7,477,009 233,291 92,037 51,158 95.2 3.0 1.2 .6

District 9 ................................. 1,086 3,084,377 2,946,704 91,027 32,052 14,594 95.5 3.0 1.0 .5

District 10................................ 1,392 3,966,091 3,794,903 102,031 46,422 22,735 95.7 2.6 1.1 .6

District 11............................... 1,069 5,617,500 5,384,363 131,864 63,643 37,630 95.8 2.4 1.1 .7

District 12............................... 491 13,315,466 12,740,953 378,471 138,763 57,279 95.7 2.8 1.1 .4

State

Alabama.................................. 224 1,167,000

314,727

1,132,394 21,187 8,654 4,765 97.0 1.8 .8 .4

Arizona..................................... 10 301,623 8,362 3,319 1,423 95.8 2.6 1.1 .5

Arkansas.................................. 220 661,906 637,667 14,520 6,368 3,351 96.3 2.2 1.0 .5

California................................. 194 10,172,099 9,735,659 287,639 106,765 42,036 95.7 2.8 1.1 .4

Colorado.................................. 140 736,531 701,610 21,197 9,230 4,494 95.3 2.9 1.2 .6

Connecticut............................. 97 1,085,760 1,051,556 20,776 8,265 5,163 96.8 1.9 .8 .5

Delaware.................................. 38 223,872 214,115 5,408 2,746 1,603 95.6 2.4 1.3 .7

District of Columbia............. 19 685,522 661,017 14,047 6,633 3,825 96.4 2.0 1.0 .6

Florida...................................... 187 1,157,347 1,101,235 34,469 14,382 7,261 95.2 3.0 1.2 .6

Georgia..................................... 326 1,416,854 1,373,785 25,166 10,793 7,110 97.0 1.8 .7 .5

FEDERAL DEPOSIT INSURANCE CORPORATION

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Idaho...................

Illinois.................

Indiana...............

Iowa.....................

Kansas.................

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

292,875

6,129,894

2,355,121

1,723,601

1,087,799

277,318

5,826,583

2,262,804

1,650,426

1,040,986

10,136

185,723

60,490

47,568

28,192

1,247,053

1,265,200

548,140

1,316,143

2,427,416

1,205,628

1,223,623

534,813

1,275,999

2,336,029

25,683

23,361

8,695

24,509

49,581

3,946,379

1,974,775

724,403

2,734,686

355,003

3,803,733

1,898,576

701,870

2,635,019

334,485

96,022

50,179

13,622

58,748

12,773

815,854

107,774

228,644

4,392,742

235,612

775,359

101,261

221,933

4,249,790

225,783

24,553

4,329

4,088

99,970

5,843

8,882,163

1,374,145

353,943

5,160,594

1,158,200

8,402,289

1,331,515

332,623

4,963,299

1,118,502

246,987

24,467

14,754

128,343

22,618

934,402

7,445,885

539,173

592,842

400,656

891,151

7,185,517

521,684

573,588

381,020

29,421

162,499

11,209

11,451

13,321

1,546,448

3,801,961

421,900

339,179

2,005,818

1,495,430

3,633,334

408,016

330,339

1,954,663

31,235

94,298

9,101

6,806

32,412

1,350,363

1,026,952

2,374,958

167,707

1,292,992

1,000,555

2,285,180

158,446

36,765

17,173

62,040

5,471

42

873

477

606

461

361

160

54

162

175

417

660

199

571

111

3628

57

329

50

639

226

145

648

375

68

961

13

134

170

288

849

55

69

313

119

176

542

54

3,959 1,462 94.7 3.5 1.3 .5

73,699 43,889 95.1 3.0 1.2 .7

21,462 10,365 96.1 2.6 .9

A

18,338 7,269 95.7 2.8 1.1 .4

12,715 5,906 95.7 2.6 1.2 .5

10,492 5,250 96.7 2.1 .8 .4

10,921 7,295 96.7 1.8 .9 .6

3,172 1,460 97.6 1.6 .5 .3

10,058 5,577 96.9 1.9 .8 .4

23,452 18,354 96.2 2.0 1.0 .8

31,036 15,588 96.4 2.4 .8 .4

16,603 9,417 96.1 2.5 .9 .5

6,033 2,878 96.9 1.9 .8 .4

24,255 16,664 96.4 2.1 .9 .6

5,567 2,178 94.2 3.6 1.6 .6

10,958 4,984 95.0 3.0 1.4 .6

1,567 617 94.0 4.0 1.4 .6

1,757 866 97.1 1.8 .7 .4

29,346 13,636 96.7 2.3 .7 .3

2,769 1,217 95.8 2.5 1.2 .5

125,303 107,584 94.6 2.8 1.4 1.2

10,807 7,356 96.9 1.8 .8 .5

5,162 1,404 94.0 4.2 1.4 .4

44,420 24,532 96.2 2.5 .8 .5

10,859 6,221 96,6 2.0 .9 .5

9,408 4,422 95.4 3.1 1.0 .5

63,050 34,819 96.5 2.2 .8 .5

3,878 2,402 96.8 2.1 .7 .4

5,031 2,772 96.8 1.9 .8 .5

4,720 1,595 95.1 3.3 1.2 .4

12,247 7,536 96.7 2.0 .8 .5

46,634 27,695 95.6 2.5 1.2 .7

3,044 1,739 96.7 2.2 .7 .4

1,482 552 97.4 2.0 .4 .2

12,235 6,508 97.5 1.6 .6 .3

13,720 6,886 95.8 2.7 1.0 .5

5,993 3,231 97.4 1.7 .6 .3

19,267 8,471 96.2 2.6 .8 .4

2,660 1,130 94.5 3.2 1.6 .7

00ACCOUNTS OF INSURED COMMERCIAL BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
b a n k s g r o u p e d b y a m o u n t o f d e p o sit s, p o p u l a t io n o f c e n t e r in w h ic h l o c a t e d ,

p e r c e n t o f d e p o sit s in s u r e d , a n d c l a s s; a n d a c c o u n t s g r o u p e d b y t y p e

Table 62. D i s t r i b u t i o n o f A c c o u n t s A c c o r d in g t o Si z e , I n s u r e d C o m m e r c ia l B a n k s , S e p t e m b e r 30, 1949

Number of accounts Percent of total accounts

Classification Number

of banks

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More

than

$25,000

$5,000

or less

$5,000

to

$10,000

$ia,ooo

to

$25,000

More

than

$25,000

All Insured commercial banks 13,440 91,452,455 87,795,611 2,248,385 895,570 512,889 96.0% 2.5% 1.0% .5%

Banks with deposits of—

$250,000 or less......................

$250,000 to $500,000

77 30,559 30,165 296 82 16 98.7 1.0 .3 (l)

522 335,806 329,565 4,547 1,355

10,876

339 98.1 1.4 .4

.5

• 11

$500,000 to $1,000,000 1,954 2,021,466 1,970,765 37,230 2,595 97.5 1 *9 • 1

o

$1,000,000 to $2,000,000. . . 3,320 5,808,017 5,628,446 127,206 41,574 10,791 96.9 2.2 .7 mUQ

$2,000,000 to $5,000,000. . . 4,207 14,635,438 14,141,173 338,221 118,006 38,038 96.6 2.3 .8 •O

$5,000,000 to $10,000,000. . 1,763 12,756,230 12,319,780 289,523 105,260 41,667 96.6 2.3 .8

.9

1.0

1.0

1.3

.3

.4

.5

.7

1.0

$10,000,000 to $25,000,000. 971 13,580,613 13,094,352 311,887 118,951 55,423 96.4 2.3

$25,000,000 to $50,000,000. 302 8,037,374 7,721,821 193,269 78,678

66,332

43,606 96.1 2.4

$50,000,000 to $100,000,000 148 6,448,504 6,179,437 156,773 45,962 95.8 2.5

More than $100,000,000.... 176 27,798,448 26,380,107 789,433 354,456 274,452 94.9 2.8

Banks in center with population of—

Less than 250 ........................ 550 580,061 559,473 14,669 4,459 1,460 96.5 2.5 .7 .3

o

250 to 500 ............................ 1,426 1,698,795 1,642,281 41,095 12,616 2,803 96.7 2.4 .7

o

500 to 1,000 ..................... 2,300 3,612,610 3,487,982 88,726 28,968 6,934 96.6 2.4 .8 •4

o

1,000 to 2,500......................... 2,986 7,132,087 6,888,708 168,342 58,423 16,614 96.6 2.4 .8

2,500 to 5,000.........................

5,000 to 10,000.......................

1,759 6,703,252 6,471,863 155,826 56,122 19,441 96.6 2.3 .8 .3Q

1,445 7,637,570 7,370,802 177,257 65,051 24,460 96.5 2.3 .9 •oA

10,000 to 15,000..................... 637 4,638,316 4,480,135 103,470 38,434 16,277 96.6 2.2 .8

.9

•4

.4

15,000 to 25,000..................... 545 5,173,690 4,989,962 117,956 45,201 20,571 96.4 2.3

25,000 to 50,000..................... 533 7,245,150 6,985,886 166,405 61,886 30,973 96.4 2.3 .9

.9

1.0

1.3

.4K

50,000 to 100,000................... 372 7,001,921 6,753,315 150,644 62,020 35,942 96.4 2.2 .0rt

100,000 to 500,000................ 560 15,803,395 15,160,786 377,453 154,514 110,642 95.9 2 .4 . 1

.9

500,000 or more..................... 327 24,225,608 23,004,418 686,542 307,876 226,772 95.0 2.8

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks with percent of deposits insured of—

100 percent..............................

90 to 99 percent.....................

80 to 89 percent.....................

70 to 79 percent.....................

60 to 69 percent.....................

50 to 59 percent........

40 to 49 percent........

30 to 39 percent........

20 to 29 percent........

Less than 20 percent.

Glass of bank

National banks members

F. R. System...................

State banks members F. R

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

Banks not members F. R

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

Type of account

Deposits of individuals,

partnerships, and corporations:

Demand................................

Savings and time...............

Interbank deposits................

Government and postal

savings deposit...................

Uninvested trust funds........

Drafts.......................................

Other items..............................

9

755

3,568

4,355

2,773

1,201

398

218

103

60

4,983

1,917

6,540

6,842

1,222,076

9,689,981

18,477,292

17,638,181

21,174,910

7,574,212

7,695,085

4,850,238

3,123,638

49,805,779

21,169,747

20,476,929

40,680,878

44,629,919

126,928

292,155

725,559

599,960

4,397,056

6,842

1,198,887

9,435,945

17,888,428

17,008,854

20,340,713

7,231,737

7,306,958

4,560,253

2,816,994

47,739,312

20,246,463

19,809,836

38,666,956

43,276,077

36,930

198,797

678,435

573,719

4,364,697

19,616

193,791

414,503

414.325

534,941

197.326

208,389

147,637

117,857

1,243,563

546,860

457,962

1,054,391

1,106,997

10,814

27,179

20,380

11,047

17,577

1 Less than 0.05 percent.

100.0

3,199 374 98.1 1.6 .3 (*)

49,806 10,439 97.4 2.0 .5 .1

133,623 40,738 96.8 2.3 .7 .2

153,200 61,802 96.4 2.3 .9 .4

206,265 92,991 96.1 2.5 1.0 .4

90,276 54,873 95.5 2.6 1.2 .7

102,182 77,556 95.0 2.7 1.3 1.0

74,298 68,050 94.0 3.1 1.5 1.4

82,721 106,066 90.2 3.8 2.6 3.4

513,283 309,621 95.9 2.5 1.0 .6

227,545 148,879 95.6 2.6 1.1 .7

154,742 54,389 96.7 2.2 .8 .3

602,990 356,541 95.0 2.6 1.5 .9

215,217 31,628 96.9 2.5 .5 .1

19,048 60,136 29.1 8.5 15.0 47.4

26,123 40,056 68.1 9.3 8.9 13.7

14,990 11,754 93.5 2.8 2.1 1.6

8,564 6,630 95.6 1.9 1.4 1.1

8,638 6,144 99.3 .4 .2 .1

00

C OACCOUNTS OF INSURED COMMERCIAL BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 6 3 . D i s t r i b u t i o n o f D e m a n d A c c o u n t s o f I n d i v i d u a l s , P a r t n e r s h i p s , a n d C o r p o r a t io n s ,

A c c o r d in g t o S i z e o f A c c o u n t , I n s u r e d C o m m e r c ia l B a n k s , S e p t e m b e r 30, 1949

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

FDIC District and State Total

Number of demand accounts of— Percent of total accounts—

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

United States and possessions......................... 40,680,878 38,666,956 1,054,391 602,990 356,541 95.0% 2.6% 1.5% .9%

United States....................................................... 40,666,414 38,653,155 1,053,984 602,804 356,471 95.0 2.6 1.5 .9

Possessions............................................................ 14,464 13,801 407 186 70 95.4 2.8 1.3 .5

District 1.................................................................. 1,759,359 1,660,758 45,862 31,085 21,654 94.4 2.6 1.8 1.2

District 2 ................................................................. 5,012,175 4,640,304 165,354 115,045 91,472 92.6 3.3 2.3 1.8

District 3 .................................................................. 4,474,116 4,249,079 113,622 69,240 42,175 95.0 2.5 1.6 .9

District 4 .................................................................. 3,821,466 3,701,038 64,166 35,973 20,289 96.9 1.7 .9 .5

District 5 ................................................................. 2,869,414 2,771,477 55,303 28,288 14,346 96.6 1.9 1.0 .5

District 6 .................................................................. 3,809,574 3,672,804 78,429 38,035 20,306 96.4 2.1 1.0 .5

District 7 .................................................................. 2,903,848 2,761,993 75,613 42,602 23,640 95.1 2.6 1.5 .8

District 8 .................................................................. 3,145,584 2,939,401 110,071 61,023 35,089 93.5 3.5 1.9 1.1

District 9 .................................................................. 1,555,294 1,474,853 49,168 22,538 8,735 94.8 3.2 1.4 .6

District 10................................................................ 2,712,914 2,582,429 77,957 37,760 14,768 95.2 2.9 1.4 .5

District 11................................................................ 3,959,125 3,785,732 95,880 51,627 25,886 95.6 2.4 1.3 .7

District 12............................................................... 4,658,009 4,427,088 122,966 69,774 38,181 95.1 2.6 1.5 .8

State

Alabama................................................................... 773,796 753,309 11,609 5,747 3,131 97.4 1.5 .7 .4

Arizona..................................................................... 163,040 155,071 4,538 2,365 1,066 95.1 2.8 1.4 .7

Arkansas.................................................................. 515,745 498,560 10,338 4,752 2,095 96.7 2.0 .9 .4

California................................................................. 3,119,046 2,965,268 80,177 46,736 26,865 95.1 2.6 1.5 .8

Colorado.................................................................. 392,570 368,702 13,456 7,197 3,215 93.9 3.4 1.9 .8

Connecticut............................................................. 366,398 347,119 9,530 6,043 3,706 94.7 2.6 1.7 1.0

Delaware.................................................................. 124,037 117,643 3,170 1,992 1,232 94.8 2.6 1.6 1.0

District of Columbia............................................. 356,469 339,965 8,215 5,151 3,138 95.4 2.3 1.4 .9

Florida...................................................................... 699,420 662,264 21,049 10,954 5,153 94.7 3.0 1.6 .7

Georgia..................................................................... 852,598 826,388 14,247 7,489 4,474 96.9 1.7 .9 .5

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho...................

Illinois.................

Indiana...............

Iowa.....................

Kansas.................

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

183,976 174,090 5,950

2,170,122 2,010,616 80,873

1,108,105 1,057,546 28,896

975,462 928,785 29,198

786,932 750,120 22,778

895,473 866,431 17,754

698,808 671,637 14,360

133,180 126,639 3,440

545,304 523,559 10,885

825,787 767,358 26,056

1,059,584 1,005,855 26,546

819,551 783,641 20,424

543,600 529,516 8,398

1,468,899 1,405,430 35,341

216,207 200,865 9,269

536,035 504,014 19,865

51,082 48,117 1,627

89,404 85,547 2,014

1,260,549 1,200,175 31,993

165,204 157,957 4,279

3,626,737 3,321,682 130,161

863,975 837,219 14,096

238,349 223,413 9,990

1,750,800 1,661,980 44,175

890,115 858,794 18,201

449,478 425,065 13,821

2,723,316 2,587,099 69,447

249,954 242,036 3,356

426,446 412,319 8,151

281,187 266,934 9,485

929,457 902,383 14,996

2,932,073 2,801,067 72,703

166,320 160,014 3,216

94,636 92,059 1,466

1,057,051 1,030,735 14,219

674,495 641,537 17,798

572,221 557,241 8,600

736,159 698,592 20,171

107,262 100,799 3,657

2,928 1,008 94.6 3.2 1.6 .6

47,837 30,796 92.7 3.7 2.2 1.4

14,647 7,016 95.5 2.6 1.3 .6

13,186 4,293 95.2 3.0 1.4 .4

10,433 3,601 95.3 2.9 1.3 .5

7,884 3,404 96.7 2.0 .9 .4

8,195 4,616 96.1 2.0 1.2 .7

2,044 1,057 95.1 2.6 1.5 .8

6,877 3,983 96.0 2.0 1.3 .7

18,428 13,945 92.9 3.2 2.2 1.7

16,503 10,680 94.9 2.5 1.6 1.0

10,218 5,268 95.6 2.5 1.2 .7

4,098 1,588 97.4 1.5 .8 .3

17,737 10,391 95.7 2.4 1.2 .7

4,560 1,513 92.9 4.3 2.1 .7

9,081 3,075 94.0 3.7 1.7 .6

924 414 94.2 3.2 1.8 .8

1,221 622 95.7 2.2 1.4 .7

18,582 9,799 95.2 2.5 1.5 .8

2,214 754 95.6 2.6 1.3 .5

94,459 80,435 91.6 3.6 2.6 2.2

7,923 4,737 96.9 1.6 .9 .6

3,955 991 93.7 4.2 1.7 .4

27,079 17,566 94.9 2.5 1.6 1.0

8,992 4,128 96.5 2.0 1.0 .5

7,091 3,501 94.5 3.1 1.6 .8

42,161 24,609 95.0 2.6 1.5 .9

2,579 1,983 96.8 1.4 1.0 .8

4,021 1,955 96.7 1.9 .9 .5

3,805 963 94.9 3.4 1.4 .3

7,662 4,416 97.1 1.6 .8 .5

38,853 19,450 95.5 2.5 1.3 .7

1,940 1,150 96.2 1.9 1.2 .7

770 341 97.3 1.5 .8 .4

7,901 4,196 97.5 1.4 .7 .4

9,981 5,179 95.1 2.6 1.5 .8

4,100 2,280 97.4 1.5 .7 .4

11,452 5,944 94.9 2.7 1.6 .8

2,057 749 94.0 3.4 1.9 .7

00

CnACCOUNTS OF INSURED COMMERCIAL BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 6 4 . D is t r ib u t io n o f Sa v in g s a n d T im e A c co u n ts o f I n d iv id u a l s , P a r t n e r s h ip s, a n d C o r p o r a t io n s,

A c c o r d in g to Siz e o f A c c o u n t, I n s u r e d C o m m e r c ia l B a n k s , Se p t e m b e r 30, 1949

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

Number of accounts— Percent of total accounts—

FDIC District and State

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

United States and possessions......................... 44,629,919 43,276,077 1,106,997 215,217 31,628 96.9% 2.5% •5% .1%

United States....................................................... 44,605,115 43,252,092 1,106,287 215,116 31,620 97.0 2.4 .5 .1

Possessions............................................................ 24,804 23,985 710 101 8 96.7 2.9 .4 C1)

District 1............................................................. 3,115,669 3,058,526 49,880 6,655 608 98.2 1.6 .2 0) District 2 .................................................................. 7,661,325 7,461,159 170,234 26,579 3,353 97.5 2.2 .3 0) District 3 .................................................................. 7,527,826 7,327,555 166,742 29,434 4,095 97.3 2.2 .4 .1

District 4 .................................................................. 2,944,839 2,877,104 55,311 10,687 1,737 97.7 1.9 .3 .1

District 5.................................................................. 1,448,039 1,405,402 34,315 7,137 1,185 97.0 2.4 .5 .1

District 6 .................................................................. 2,066,164 2,011,274 44,961 8,629 1,300 97.3 2.2 .4 .1

District 7.................................................................. 5,333,068 5,171,007 136,089 22,975 2,997 97.0 2.5 .4 .1

District 8 .................................................................. 4,071,835 3,931,166 114,524 23,172 2,973 96.5 2.8 .6 .1

District 9 .................................................................. 1,352,020 1,307,710 37,514 6,166 630 96.7 2.8 .5 0) District 10................................................................ 1,055,584 1,031,500 19,440 4,034 610 97.7 1.8 .4 .1

District 11................................................................ 1,403,840 1,367,318 29,462 5,855 1,205 97.4 2.1 .4 .1

District 12................................................................ 6,649,710 6,326,356 248,525 63,894 10,935 95.1 3.7 1.0 .2

State

Alabama.................................................................. 363,956 353,064 8,586 1,981 325 97.0 2.4 .5 .1

Arizona..................................................................... 130,660 126,166 3,587 775 132 96.6 2.7 .6 .1

Arkansas................................................................... 113,832 109,581 3,259 860 132 96.3 2.9 .7 .1

California................................................................. 5,165,673 4,896,262 202,717 56,726 9,968 94.8 3.9 1.1 .2

Colorado.................................................................. 310,310 301,697 6,943 1,440 230 97.2 2.2 .5 .1

Connecticut............................................................. 668,315 657,229 9,814 1,194 78 98.3 1.5 .2 0) Delaware.................................................................. 90,384 87,801 1,986 528 69 97.1 2.2 .6 .1

District of Columbia............................................. 307,008 300,197 5,407 1,171 233 97.8 1.7 .4 .1

Florida...................................................................... 409,797 395,310 11,962 2,177 348 96.5 2.9 .5 .1

Georgia..................................................................... 523,309 511,428 9,579 1,968 334 97.7 1.8 .4 .1

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho......................................................................... 98,049 93,219 3,904

Illinois....................................................................... 3,407,214 3,286,370 98,235

Indiana..................................................................... 1,153,158 1,117,918 29,866

664,621 644,796 16,289

Kansas...................................................................... 255,826 250,787 4,016

Kentucky................................................................. 306,384 298,272 6,624

Louisiana.................................................................. 501,398 491,989 7,618

Maine....................................................................... 396,464 390,543 4,942

Maryland................................................................. 714,945 699,244 12,944

Massachusetts........................................................ 1,435,819 1,412,358 20,631

Michigan.................................................................. 2,645,052 2,564,479 66,657

Minnesota................................................................ 1,040,258 1,008,710 27,036

Mississippi............................................................... 150,977 145,600 4,188

Missouri................................................................... 1,088,845 1,065,263 20,080

Montana.................................................................. 123,063 119,060 3,174

Nebraska.................................................................. 232,111 227,722 3,641

Nevada..................................................................... 51,503 48,263 2,594

New Hampshire..................................................... 128,224 126,003 1,854

New Jersey.............................................................. 3,008,897 2,933,536 65,662

New Mexico............................................................ 59,993 58,267 1,333

New York................................................................ 4,555,103 4,432,940 102,536

North Carolina....................................................... 463,939 452,833 9,060

North Dakota........................................................ 94,365 89,204 4,209

3,173,753 3,077,938 80,030

Oklahoma................................................................ 204,326 200,356 3,228

Oregon...................................................................... 453,253 436,420 14,906

Pennsylvania.......................................................... 4,354,073 4,249,617 86,712

Rhode Island.......................................................... 262,120 253,326 7,587

South Carolina....................................................... 147,613 144,187 2,769

South Dakota......................................................... 94,334 90,736 3,095

Tennessee................................................................. 557,103 538,158 14,998

Texas......................................................................... 711,789 690,896 16,924

Utah.......................................................................... 240,000 233,373 5,627

Vermont................................................................... 224,727 219,067 5,052

Virginia..................................................................... 884,657 863,676 17,059

Washington............................................................. 623,369 601,716 18,117

W©3t Virginia.......................................................... 426,677 416,967 8,072

Wisconsin................................................................. 1,534,858 1,488,610 39,566

Wyoming.................................................................. 53,011 50,938 1,612

*Less than 0.05 percent.

817

19,967

4,775

3,205

900

1,317

1,518

866

2,413

2,628

12,111

4,110

1,011

3,108

741

682

575

333

8,769

323

17,274

1,709

856

13,874

619

1,741

15,560

1,096

555

459

3,344

3,239

892

538

3,387

3,050

1,452

6,089

393

109 95.1 4.0 .8

2,642 96.5 2.9 .5

599 96.9 2.6 .4

331 97.1 2.4 .5

123 98.0 1.6 .4

171 97.4 2.1 .4

273 98.1 1.5 .3

113 98.5 1.3 .2

344 97.9 1.8 .3

202 98.4 1.4 .2

1,805 97.0 2.5 .4

402 97.0 2.6 .4

178 96.4 2.8 .7

394 97.8 1.9 .3

88 96.7 2.6 .6

66 98.1 1.6 .3

71 93.7 5.1 1.1

34 98.3 1.4 .3

930 97.5 2.2 .3

70 97.1 2.2 .6

2,353 97.3 2.2 .4

337 97.6 1.9 .4

96 94.5 4.5 .9

1,911 97.0 2.5 .4

123 98.1 1.5 .3

186 96.3 3.3 .4

2,184 97.6 2.0 .3

111 96.7 2.9 .4

102 97.7 1.9 .3

44 96.2 3.3 .5

603 96.6 2.7 .6

730 97.1 2.4 .4

108 97.3 2.3 .4

70 97.5 2.3 .2

535 97.6 1.9 .4

486 96.5 2.9 .5

186 97.8 1.9 .3

593 97.0 2.6 .4

68 96.1 3.0 .8

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00ACCOUNTS OF INSURED COMMERCIAL B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 6 5 . D i s t r i b u t i o n o f D e m a n d A c c o u n t s o f I n d i v i d u a l s , P a r t n e r s h i p s , a n d C o r p o r a t io n s ,

A c c o r d in g t o Si z e , I n s u r e d C o m m e r c ia l B a n k s , S e p t e m b e r 30, 1949

BANKS GROUPED BY AMOUNT OF DEPOSITS

Size group Total

Number of accounts— Percent of total accounts—

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

Demand accounts— total.................................... 40,680,878 38,666,956 1,054,391 602,990 356,541 95.0% 2.6 % 1.5% •9%

In banks with deposits of—

$250,000 or less...................................................... 25,560 25,268 230 55 7 98.9 .9 .2 (0

$250,000 to $500,000............................................ 278,135 273,868 3,199 921 147 98.5 1.1 .3 .1

$500,000 to $1,000,000......................................... 1,490,846 1,457,995 23,913 7,629 1,309 97.8 1.6 .5 .1

$1,000,000 to $2,000,000..................................... 3,922,733 3,811,925 76,471 28,233 6,104 97.2 1.9 .7 .2

$2,000,000 to $5,000,000..................................... 8,433,339 8,144,400 185,385 80,772 22,782 96.6 2.2 .9 .3

$5,000,000 to $10,000,000................................... 6,028,519 5,784,889 143,811 72,573 27,246 96.0 2.4 1.2 .4

$10,000,000 to $25,000,000................................ 5,351,731 5,091,244 139,768 81,275 39,444 95.1 2.6 1.5 .8

$25,000,000 to $50,000,000................................. 3,056,306 2,881,228 87,816 55,793 31,469 94.3 2.9 1.8 1.0

$50,000,000 to $100,000,000.............................. 2,416,340 2,269,283 68,433 46,214 32,410 93.9 2.8 1.9 1.4

More than $100,000,000...................................... 9,677,369 8,926,856 325,365 229,525 195,623 92.2 3.4 2.4 2.0

PprrAti t nf tntiil 100.0% 100.0% 100.0% 100.0% 100.0%

In banks with deposits of—

ftftft nr Ipqq .1 .1 0) (1) (1)

$250 000 to $500 000 .7 .7 .3 .1 (i)

$500 000 to $1 000 000 3.7 3.8 2.3 1.3 .4

$1 000 000 to $2 000 000 9.6 9.8 7.2 4.7 1.7

$2 000 000 to $5 000 000 20.7 21.1 17.6 13.4 6.4

$*» 000 000 to $10 000 000 14.8 14.9 13.6 12.0 7.6

tin ftftn 000 tn $25 000 000 13.2 13.2 13.3 13.5 11.1

$25 000 000 to $50 000 000 7.5 7.4 8.3 9.2 8.8

$50 000 000 to $100 000 000 5^9 5.9 6.5 7.7 9.1

More than $100 000 000 23.8 23.1 30.9 38.1 54.9

1 Less than 0.05 percent.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 6 6 . D i s t r i b u t i o n o f Sa v in g s a n d T im e A c c o u n t s o f I n d i v i d u a l s , P a r t n e r s h i p s , a n d C o r p o r a t io n s ,

A c c o r d in g t o Si z e , I n s u r e d C o m m e r c ia l B a n k s , S e p t e m b e r 30, 1949

BANKS GROUPED BY AMOUNT OF DEPOSITS

Size group Total

Number of accounts— Percent of total accounts—

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

Sayings and tim e accounts— tota l................. 44,629,919 43,276,077 1,106,997 215,217 31,628 96.9% 2.5% .5 % . 1 %

In banks with deposits of—

$250,000 or less...................................................... 3,136 3,092 39 5 98.6 1.2 .2

$250,000 to $500,000............................................ 45,389 44,288 943 147 11 97.6 2.1 .3 C1)

$500,000 to $1,000,000........................................ 452,287 440,446 10,397 1,355 89 97.4 2.3 .3 C1)

$1,000,000 to $2,000,000...................................... 1,664,354 1,613,341 43,263 7,122 628 97.0 2.6 .4 C1)

$2,000,000 to $5,000,000..................................... 5,654,232 5,487,025 139,394 25,126 2,687 97.1 2.5 .4 0)

$5,000,000 to $10,000,000.................................. 6,236,515 6,071,807 136,542 25,020 3,146 97.3 2.2 .4 .1

$10,000,000 to $25,000,000................................ 7,651,597 7,455,098 162,530 29,640 4,329 97.4 2.1 .4 .1

$25,000,000 to $50,000,000................................ 4,524,481 4,406,589 98,392 16,889 2,611 97.4 2.2 .4 C1) $50,000,000 to $100,000,000.............................. 3,682,954 3,584,413 81,838 14,273 2,430 97.3 2.2 .4 .1

More than $100,000,000...................................... 14,714,974 14,169,978 433,659 95,640 15,697 96.3 2.9 .7 .1

Percent of total................................................... 1 0 0 . 0 % 1 0 0. 0% 1 0 0 . 0 % 1 0 0 . 0 % 1 0 0 . 0 %

In banks with deposits of—

$250,000 or less...................................................... (!) 0) (1) 0)

$250,000 to $500,000............................................ .1 .1 .1 .1 (i)

$500,000 to $1,000,000........................................ 1.0 1.0 .9 .6 .3

$1,000,000 to $2,000,000..................................... 3.7 3.7 3.9 3.3 2.0

$2,000,000 to $5,000,000..................................... 12.7 12.7 12.6 11.7 8.5

$5,000,000 to $10,000,000.................................. 14.0 14.0 12.3 11.6 9.9

$10,000,000 to $25,000,000................................ 17.1 17.2 14.7 13.8 13.7

$25,000,000 to $50,000,000................................ 10.1 10.2 8.9 7.9 8.3

$50,000,000 to $100,000,000.............................. 8.3 8.3 7.4 6.6 7.7

More than $100,000,000...................................... 33.0 32.8 39.2 44.4 49.6

1 Less than 0.05 percent.

ACCOUNTS OF INSURED COMMERCIAL BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
D e t a il e d T a b l e s : D is t r ib u t io n o f D ep o sit s in I n s u r e d C o m m e r c ia l B a n k s A c c o r d in g to Siz e o f A c c o u n t

CO

o

Table 67. D is t r ib u t io n o f D e p o s it s A c co r d in g to Siz e o f A c c o u n t , I n s u r e d C o m m e r c ia l B a n k s , Se p t e m b e r 30, 1949 

b a n k s g r o u p e d b y f e d e r a l d e p o s it in s u r a n c e c o r p o r a tio n d is t r ic t a n d b y s t a t e

Deposits (in thousands) in accounts of— Percent of total deposits—

FDIC District and State

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

United States and possessions......................... $139,251,778 $44,127,049 $14,786,479 $13,328,436 $67,009,814 31.7% 10.6% 9.6% 48.1%

United States....................................................... 139,205,858 44,105,173 14,778,819 13,323,612 66,998,254 31.7 10.6 9.6 48.1

Possessions............................................................ 45,920 21,876 7,660 4,824 11,560 47.6 16.7 10.5 25.2

District 1.................................................................. 6,796,167 2,229,437 667,464 636,739 3,262,527 32.8 9.8 9.4 48.0

District 2 .................................................................. 34,221,636 6,925,064

6,002,734

2,328,417 2,411,397 22,556,758 20.2 6.8 7.1 65.9

District 3 .................................................................. 16,883,387 1,894,813 1,577,245 7,408,595 35.6 11.2 9.3 43.9

District 4 .................................................................. 7,641,027 2,878,202 819,530 756,150 3,187,145 37.7 10.7 9.9 41.7

District 5.................................................................. 5,038,163 1,877,455 607,104 589,483 1,964,121 37.3 12.0 11.7 39.0

District 6 .................................................................. 8,060,981 2,842,503 858,269 787,636 3,572,573 35.3 10.6 9.8 44.3

District 7 .................................................................. 10,929,675 4,540,827 1,417,118 1,059,974 3,911,756 41.5 13.0 9.7 35.8

District 8 .................................................................. 14,012,181 4,201,678 1,542,825 1,370,575 6,897,103 30.0 11.0 9.8 49.2

District 9 .................................................................. 4,451,243 1,838,312 601,765 472,646 1,538,520 41.3 13.5 10.6 34.6

District 10................................................................ 5,568,927 1,979,417 688,483 693,308 2,207,719 35.5 12.4 12.5 39.6

District 11................................................................ 8,364,373 2,525,662 883,757 960,098 3,994,856 30.2 10.5 11.5 47.8

District 12................................................................ 17,284,018 6,285,758 2,476,934 2,013,185 6,508,141 36.4 14.3 11.6 37.7

State

Alabama................................................................... 1,153,849 454,627 135,415 128,785 435,022 39.4 11.7 11.2 37.7

Arizona..................................................................... 396,577 151,489 55,411 49,203 140,474 38.2 14.0 12.4 35.4

Arkansas................................................................... 752,406 303,925 95,048 92,757 260,676 40.4 12.6 12.3 34.7

California................................................................. 12,959,434 4,579,664 1,887,383 1,536,331 4,956,056 35.3 14.6 11.9 38.2

Colorado.................................................................. 1,110,832 381,999 140,843 136,841 451,149 34.4 12.7 12.3 40.6

Connecticut............................................................. 1,310,803 516,435 135,759 121,955 536,654 39.4 10.4 9.3 40.9

Delaware.................................................................. 445,464 100,414 36,575 41,104 267,371 22.6 8.2 9.2 60.0

District of Columbia............................................. 1,015,614 333,474 94,245 100,280 487,615 32.8 9.3 9.9 48.0

Florida...................................................................... 1,611,950 559,812 219,298 210,133 622,707 34.7 13.6 13.1 38.6

Georgia..................................................................... 1,558,798 547,439 161,588 160,799 688,972 35.1 10.4 10.3 44.2

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho......................................................................... 417,422 171,676 67,110

Illinois....................................................................... 11,858,054 3,259,664 1,223,510

Indiana..................................................................... 2,967,149 1,208,929 391,879

Iowa.......................................................................... 2,154,127 942,014 319,315

Kansas...................................................................... 1,429,144 554,571 190,923

Kentucky................................................................. 1,393,418 574,038 171,873

Louisiana.................................................................. 1,655,850 488,428 156,964

Maine....................................................................... 417,503 203,928 56,691

Maryland................................................................. 1,468,320 521,268 163,414

Massachusetts........................................................ 4,011,586 1,057,801 331,412

Michigan.................................................................. 5,060,852 1,999,061 622,068

Minnesota................................................................ 2,841,089 1,117,351 326,074

Mississippi............................................................... 713,566 315,577 90,803

Missouri................................................................... 4,065,551 1,285,351 388,776

Montana................................................................... 583,834 212,260 87,880

Nebraska.................................................................. 1,216,206 460,131 166,364

162,082 59,902 27,857

New Hampshire..................................................... 208,234 90,760 27,996

New Jersey.............................................................. 4,461,017 2,116,355 637,879

New Mexico............................................................ 300,540 109,193 38,644

New York................................................................ 29,311,248 4,706,291 1,653,327

North Carolina....................................................... 1,728,420 606,232 161,550

North Dakota........................................................ 514,009 258,678 99,233

7,039,284 2,563,526 829,838

Oklahoma................................................................ 1,566,811 490,432 153,477

Oregon...................................................................... 1,262,025 517,573 188,699

Pennsylvania.......................................................... 9,844,103 3,439,208 1,064,975

Rhode Island.......................................................... 602,617 213,196 73,447

South Carolina....................................................... 642,733 247,856 75,995

South Dakota......................................................... 512,311 250,023 88,578

Tennessee................................................................ 1,849,606 679,189 202,572

Texas......................................................................... 6,011,406 1,776,552 632,738

Utah.......................................................................... 543,874 206,059 58,784

Vermont................................................................... 245,424 147,317 42,159

Virginia..................................................................... 1,846,552 759,094 213,383

Washington............................................................. 1,897,168 731,012 240,077

West Virginia.......................................................... 939,388 410,278 110,943

Wisconsin................................................................. 2,901,674 1,332,837 403,171

Wyoming.................................................................. 245,934 92,284 36,876

58,079 120,557 41.1 16.1 13.9 28.9

1,099,543 6,275,337 27.5 10.3 9.3 52.9

319,479 1,046,862 40.7 13.2 10.8 35.3

271,032 621,766 43.7 14.8 12.6 28.9

188,325 495,325 38.8 13.4 13.2 34.6

156,015 491,492 41.2 12.3 11.2 35.3

166,567 843,891 29.5 9.5 10.0 51.0

47,337 109,547 48.9 13.6 11.3 26.2

145,446 638,192 35.5 11.1 9.9 43.5

356,072 2,266,301 26.4 8.2 8.9 56.5

460,343 1,979,380 39.5 12.3 9.1 39.1

245,005 1,152,659 39.3 11.5 8.6 40.6

89,766 217,420 44.2 12.7 12.6 30.5

363,995 2,027,429 31.6 9.6 8.9 49.9

83,458 200,236 36.4 15.0 14.3 34.3

163,648 426,063 37.8 13.7 13.5 35.0

22,830 51,493 37.0 17.2 14.1 31.7

26,087 63,391 43.6 13.4 12.5 30.5

432,077 1,274,706 47.4 14.3 9.7 28.6

39,353 113,350 36.3 12.9 13.1 37.7

1,937,669 21,013,961 16.1 5.6 6.6 71.7

162,410 798,228 35.1 9.3 9.4 46.2

74,832 81,266 50.3 19.3 14.6 15.8

658,589 2,987,331 36.4 11.8 9.4 42.4

164,843 758,059 31.3 9.8 10.5 48.4

139,494 416,259 41.0 15.0 11.0 33.0

918,656 4,421,264 35.0 10.8 9.3 44.9

63,611 252,363 35.4 12.2 10.5 41.9

76,502 242,380 38.6 11.8 11.9 37.7

69,351 104,359 48.8 17.3 13.5 20.4

174,869 792,976 36.7 10.9 9.5 42.9

704,975 2,897,141 29.6 10.5 11.7 48.2

45,216 233,815 37.9 10.8 8.3 43.0

21,677 34,271 60.0 17.2 8.8 14.0

182,275 691,800 41.1 11.5 9.9 37.5

206,958 719,121 38.5 12.7 10.9 37.9

89,237 328,930 43.7 11.8 9.5 35.0

280,152 885,514 45.9 13.9 9.7 30.5

39,651 77,123 37.5 15.0 16.1 31.4

DEPOSITS IN INSURED COMMERCIAL BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 6 8 . D i s t r i b u t i o n o f D e p o s it s A c c o r d in g t o Si z e o f A c c o u n t , I n s u r e d C o m m e r c ia l B a n k s , S e p t e m b e r 30, 1949

BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED,

PERCENT OF DEPOSITS INSURED, AND CLASS; AND ACCOUNTS GROUPED BY TYPE

Deposits (in thousands) in accounts of— Percent of total deposits—

Classification

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

All insured commercial banks......................... $139,251,778 $44,127,049 $14,786,479 $13,328,436 $67,009,814 31.7% 10.6% 9.6% 48.1%

Banks with deposits of—

$250,000 or less...................................................... 15,091 11,344 1,946 1,208 593 75.2 12.9 8.0 3.9

$250,000 to $500,000............................................ 207,723 143,926 29,897 19,605 14,295 69.3 14.4 9.4 6.9

$500,000 to $1,000,000......................................... 1,487,060 957,978 245,013 158,290 125,779 64.4 16.5 10.6 8.5

$1,000,000 to $2,000,000..................................... 4,865,787

13,281,539

2,865,723 838,954 603,024 558,086 58.9 17.2 12.4 11.5

$2,000,000 to $5,000,000..................................... 7,123,681 2,224,806 1,721,288 2,211,764 53.6 16.8 13.0 16.6

$5,000,000 to $10,000,000................................... 12,309,855 5,988,279 1,891,482 1,546,266 2,883,828 48.6 15.4 12.6 23.4

$10,000,000 to $25,000,000 ................................ 14,714,285 6,370,198 2,045,556 1,767,984 4,530,547 43.3 13.9 12.0 30.8

$25,000,000 to $50,000,000 ................................ 10,488,454 3,830,559 1,262,556 1,153,273 4,242,066 36.5 12.0 11.0 40.5

$50,000,000 to $100,000,000 .............................. 10,349,578 3,139,013 1,035,512 993,793 5,181,260

47,261,596

30.3 10.0 9.6 50.1

More than $100,000,000...................................... 71,532,406 13,696,348 5,210,757 5,363,705 19.1 7.3 7.5 66.1

Banks in centers with population of—

Less than 250.......................................................... 610,640 318,022 96,845 63,726 132,047 52.1 15.9 10.4 21.6

250 to 500................................................................ 1,480,315 891,336 269,769 181,867 137,343 60.2 18.2 12.3 9.3

500 to 1,000............................................................ 3,257,678 1,894,744 586,960 419,341 356,633 58.2 18.0 12.9 10.9

1,000 to 2,500......................................................... 6,513,865 3,620,400 1,114,774 852,042 926,649 55.6 17.1 13.1 14.2

2,500 to 5,000......................................................... 6,310,412 3,245,376 1,023,399 818,741 1,222,896 51.4 16.2 13.0 19.4

5,000 to 10,000....................................................... 7,407,591 3,661,268 1,166,545 958,245 1,621,533 49.4 15.8 12.9 21.9

10,000 to 15,000..................................................... 4,576,009 2,134,822 679,319 563,589 1,198,279 46.7 14.8 12.3 26.2

15,000 to 25,000..................................................... 5,560,766 2,403,361 777,366 668,221 1,711,818 43.2 14.0 12.0 30.8

25,000 to 50,000..................................................... 7,952,224 3,330,833

3,143,044

1,076,803 919,205 2,625,383 41.9 13.5 11.6 33.0

50,000 to 100,000................................................... 8,593,918 986,100 911,996 3,552,778 36.6 11.5 10.6 41.3

100,000 to 500,000................................................. 26,133,293 7,431,877 2,469,183 2,326,391 13,905,842 28.4 9.5 8.9 53.2

500,000 or more..................................................... 60,855,067 12,051,966 4,539,416 4,645,072 39,618,613 19.8 7.5 7.6 65.1

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks with percent of deposits insured

of—

100 percent..............................................................

90 to 99 percent.....................................................

80 to 89 percent.....................................................

70 to 79 percent.....................................................

60 to 69 percent.....................................................

50 to 59 percent.....................................................

40 to 49 percent.....................................................

30 to 39 percent.....................................................

20 to 29 percent.....................................................

Less than 20 percent.............................................

Glass of bank

National banks members F. R. System..........

State banks members F. R. System.................

Banks not members F. R. System....................

Type of account

Deposits of individuals, partnerships, and

corporations

Demand...............................................................

Savings and time...............................................

Interbank deposits................................................

Government and postal savings deposits........

Uninvested trust funds........................................

Drafts.......................................................................

Other items.............................................................

2,694

728,631

7,198,691

15,927,772

17,771,869

2,694

561,485

4,765,616

8,965,830

8,420,351

116,423

1,245,344

2,698,380

2,734,104

25,247,703

12,178,249

16,945,206

15,397,541

27,853,422

9,677,485

3,803,387

3,837,237

2,358,202

1,734,762

3,511,276

1,314,406

1,382,951

976,094

807,501

80,485,638

39,696,101

19,070,039

23,681,916

10,636,992

9,808,141

8,164,654

3,619,409

3,002,416

77,779,920

33,576,721

11,338,705

11,740,678

2,148,268

890,747

1,776,739

20,755,699

21,999,621

45,753

255,559

321,398

180,580

568,439

7,261,805

6,898,820

82,720

195,919

143,097

78,211

125,907

100.0

39,116 11,607 77.0 16.0 5.4 1.6

710,519 477,212 66.2 17.3 9.9 6.6

1,916,285 2,347,277 56.3 17.0 12.0 14.7

2,259,458 4,357,956 47.4 15.4 12.7 24.5

3,024,255 9,034,687 38.3 13.9 12.0 35.8

1,361,296 5,699,160 31.2 10.8 11.2 46.8

1,553,003 10,172,015 22.6 8.2 9.2 60.0

1,139,108 10,924,137 15.3 6.3 7.4 71.0

1,325,396 23,985,763 6.2 2.9 4.8 86.1

7,629,022 41,010,046 29.4 10.1 9.5 51.0

3,437,567 22,002,133 26.8 9.1 8.7 55.4

2,261,847 3,997,635 51.4 15.7 11.9 21.0

9,136,930 40,625,486 26.7 9.3 11.8 52.2

2,934,572 1,743,708 65.5 20.6 8.7 5.2

323,945 10,886,287 .4 .7 2.9 96.0

428,950 10,860,250 2.2 1.7 3.6 92.5

233,250 1,450,523 15.0 6.7 10.8 67.5

137,485 494,471 20.3 8.8 15.4 55.5

133,304 949,089 32.0 7.1 7.5 53.4

C O

C O DEPOSITS IN INSURED COMMERCIAL BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
CD

T a b le 6 9 . D i s t r i b u t i o n o f D e m a n d D e p o s it s o f I n d i v i d u a l s , P a r t n e r s h i p s , a n d C o r p o r a t io n s ,

A c c o r d in g t o S i z e o f A c c o u n t , I n s u r e d C o m m e r c ia l B a n k s , S e p t e m b e r 30, 1949

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

Deposits (in thousands) in accounts of— Percent of total deposits—

FDIC District and State

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

United States and possessions.......................... $77,779,920 $20,755,699 $7,261,805 $9,136,930 $40,625,486 26.7% 9.3% 11.8% 52.2%

United States....................................................... 77,761,356 20,746,794 7,259,022 9,134,187 40,621,353 26.7 9.3 11.8 52.2

Possessions............................................................ 18,564 8,905 2,783 2,743 4,133 48.0 15.0 14.8 22.2

District 1.................................................................. 3,869,137 851,531 321,351 483,128 2,213,127 22.0 8.3 12.5 57.2

District 2 .................................................................. 20,536,583 2,886,478 1,151,987 1,796,391 14,701,727 14.1 5.6 8.7 71.6

District 3 .................................................................. 8,782,714 2,204,497 784,337 1,034,550 4,759,330 25.1 8.9 11.8 54.2

District 4 .................................................................. 4,330,572 1,524,719 444,005 542,118 1,819,730 35.2 10.3 12.5 42.0

District 5.................................................................. 3,030,222 1,172,587 362,112 418,468

564,294

1,077,055 38.7 12.0 13.8 35.5

District 6 .................................................................. 4,735,223 1,799,785 532,138 1,839,006 38.0 11.3 11.9 38.8

District 7 .................................................................. 5,092,380 1,514,280 520,999 643,927

924,284

2,413,174 29.7 10.2 12.7 47.4

District 8 .................................................................. 7,694,579 1,910,552 762,747 4,096,996 24.8 9.9 12.0 53.3

District 9 .................................................................. 2,392,033 952,744 339,023 334,545 765,721 39.8 14.2 14.0 32.0

District 10................................................................ 3,711,285 1,453,118 534,359 562,116 1,161,692 39.2 14.4 15.1 31.3

District 11................................................................ 5,430,786 1,870,133 656,995 776,379 2,127,279 34.4 12.1 14.3 39.2

8,174,406 2,615,275 851,752 1,056,730 3,650,649 32.0 10.4 12.9 44.7

State

Alabama................................................................... 694,381 280,231 75,943 85,996 252,211 40.4 10.9 12.4 36.3

Arizona..................................................................... 227,829 90,994 31,190 35,454 70,191 39.9 13.7 15.6 30.8

Arkansas................................................................... 503,587 231,845 69,198 70,080 132,464 46.0 13.8 13.9 26.3

California................................................................. 5,734,005 1,742,791 555,546 706,189

107,776

2,729,479 30.4 9.7 12.3 47.6

Colorado.................................................................. 702,081 224,583 92,714 277,008 32.0 13.2 15.4 39.4

Connecticut............................................................. 724,534 218,974 65,933 90,375 349,252 30.2 9.1 12.5 48.2

Delaware.................................................................. 275,748 58,729 22,121 30,217 164,681 21.3 8.0 11.0 59.7

District of Columbia............................................. 689,371 185,919 57,265 78,861 367,326 27.0 8.3 11.4 53.3

Florida...................................................................... 981,766 349,321 134,743 159,780 337,922 35.6 13.7 16.3 34.4

Georgia..................................................................... 929,598 326,064 93,936 111,878 397,720 35.1 10.1 12.0 42.8

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho...................

Illinois.................

Indiana...............

Iowa.....................

Kansas................

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

256,997 1

6,452,726

1,598,626

1,241,853

961,902

109,512

1,343,694

587,295

566,858

428,533

41,139

561,676

196,800

201,071

155,332

918,730

899,183

190,046

789,059

2,448,021

411,600

276,358

67,000

226,404

431,516

121,209

99,635

23,872

78,421

182,451

2,208,010

1,311,475

424,477

2,357,088

373,168

517,033

453,210

216,971

752,440

144,013

184,064

140,326

57,490

241,580

65,318

836,469

81,414

112,934

1,915,795

182,601

343,722

30,244

39,583

630,706

81,064

136,256

11,094

14,081

220,991

28,821

18,343,942

950,475

358,126

3,446,070

1,054,605

2,196,558

351,061

178,113

863,336

394,030

908,680

96,895

68,917

305,022

124,863

739,653

5,336,644

315,036

439,058

349,264

261,171

1,341,161

59,310

181,643

177,408

95,135

479,315

24,763

55,492

64,462

955,818

4,121,173

278,451

78,566

933,821

403,900

1,421,717

89,777

35,148

362,026

100,151

497,349

22,299

10,251

98,319

1,066,420

528,788

1,285,744

156,228

373,360

217,666

409,952

62,250

123,951

57,613

140,135

25,194

43,551 62,795 42.6 16.0 17.0 24.4

729,094 3,818,262 20.8 8.7 11.3 59.2

220,447 594,084 36.7 12.3 13.8 37.2

195,190 278,734 45.7 16.2 15.7 22.4

153,243 224,794 44.6 16.1 15.9 23.4

117,081 268,840 44.8 13.2 12.7 29.3

124,894 398,296 30.7 11.1 13.9 44.3

31,190 67,984 35.2 12.6 16.4 35.8

100,362 383,872 28.7 9.9 12.7 48.7

285,479 1,548,575 17.6 7.5 11.7 63.2

252,507 1,254,406 23.4 8.3 11.5 56.8

152,775 565,164 34.6 10.7 11.6 43.1

60,814 89,202 51.1 13.6 14.3 21.0

268,151 1,094,917 31.9 10.2 11.4 46.5

68,498 95,339 38.6 17.5 18.4 25.5

134,741 221,750 41.1 16.3 16.1 26.5

14,013 26,063 37.2 13.6 17.2 32.0

18,591 40,679 35.0 12.5 16.5 36.0

282,214 781,884 32.9 11.6 14.7 40.8

31,113 41,603 44.4 15.8 17.0 22.8

1,483,792 13,754,912 12.0 4.9 8.1 75.0

119,763 382,756 36.9 10.2 12.6 40.3

57,632 53,464 49.7 19.3 16.1 14.9

413,568 1,864,144 25.1 8.8 12.0 54.1

135,511 400,201 37.4 11.8 12.9 37.9

107,220 276,127 35.3 12.9 14.5 37.3

620,982 2,895,186 25.1 9.0 11.6 54.3

45,954 185,009 18.8 7.9 14.6 58.7

61,051 140,872 41.4 12.6 13.9 32.1

55,640 51,754 50.8 18.5 15.9 14.8

108,982 342,785 42.2 10.5 11.4 35.9

584,918 1,617,189 34.5 12.1 14.2 39.2

29,309 137,066 32.3 8.0 10.5 49.2

11,539 21,628 44.7 13.1 14.7 27.5

120,126 353,350 38.8 10.5 12.9 37.8

153,873 415,236 35.0 11.6 14.4 39.0

61,955 191,554 41.2 10.9 11.7 36.2

170,973 564,684 31.9 10.9 13.3 43.9

30,845 37,939 39.9 16.1 19.7 24.3

CO

CnDEPOSITS IN INSURED COMMERCIAL B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
CO

05

Table 70. D i s t r ib u t io n o f S a v in g s a n d T im e D e p o s it s o f I n d iv id u a ls , P a r t n e r s h ip s , a n d C o r p o r a t io n s ,

A c c o r d in g t o S iz e o f A c c o u n t , In s u r e d C o m m e r c ia l B a n k s , S e p te m b e r 30, 1949

b a n k s g r o u p e d b y f e d e r a l d e p o sit in s u r a n c e c o r p o r a tio n d is t r ic t a n d s t a t e

Deposits (in thousands) in accounts of— Percent of total deposits—

FDIC District and State

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

United States and possessions......................... $33,576,721 $21,999,621 $6,898,820 $2,934,572 $1,743,708 65.5 % 20.6% 8.7% 5.2%

United States....................................................... 33,558,968 21,987,950 6,894,381 2,933,230 1,743,407 65.5 20.6 8.7 5.2

Possessions............................................................ 17,753 11,671 4,439 1,342 301 65.7 25.0 7.6 1.7

District 1.................................................................. 1,723,900 1,293,603 307,862 86,090 36,345 75.0 17.9 5.0 2.1

District 2 .................................................................. 5,399,154 3,769,637 1,055,675 357,719 216,123 69.8 19.6 6.6 4.0

District 3 .................................................................. 5,326,304 3,635,465 1,035,469 401,150 254,220 68.3 19.4 7.5 4.8

District 4 .................................................................. 1,870,814 1,289,700 342,223 148,010 90,881 68.9 18.3 7.9 4.9

District 5.................................................................. 1,013,374 642,642 210,252 98,715 61,765 63.4 20.7 9.8 6.1

District 6 ................................................................. 1,423,783 963,180 277,191 114,473 68,939 67.6 19.5 8.0 4.9

District 7.................................................................. 4,223,333 2,912,657 846,735 314,965 148,976 69.0 20.0 7.5 3.5

District 8 .................................................................. 3,320,914 2,150,707 716,810 319,425 133,972 64.8 21.6 9.6 4.0

District 9 .................................................................. 1,150,785 808,132 232,514 83,264 26,875 70.2 20.2 7.3 2.3

District 10............................................................... 667,861 463,166 120,292 55,526 28,877 69.4 18.0 8.3 4.3

District 11............................................................... 913,211 575,689 179,143 82,188 76,191 63.0 19.6 9.0 8.4

District 12............................................................... 6,543,288 3,495,043 1,574,654 873,047 600,544 53.4 24.1 13.3 9.2

State

Alabama................................................................... 255,965 161,219 52,426 27,897 14,423 63.0 20.5 10.9 5.6

Arizona..................................................................... 95,726 56,288 22,511 10,870

10,005

6,057 58.8 23.5 11.4 6.3

Arkansas.................................................................. 96,565 60,714 19,688 6,158 62.9 20.4 10.3 6.4

California................................................................. 5,317,289 2,703,725 1,297,409 776,150 540,005 50.8 24.4 14.6 10.2

Colorado.................................................................. 219,628 146,241 42,441 19,617 11,329 66.6 19.3 8.9 5.2

Connecticut............................................................. 357,395 277,198 59,727 15,840 4,630 77.6 16.7 4.4 1.3

Delaware.................................................................. 60,286 37,582 12,666 7,348 2,690 62.3 21.0 12.2 4.5

District of Columbia............................................. 206,344 141,359 33,867 16,431 14,687 68.5 16.4 8.0 7.1

Florida...................................................................... 319,766 191,560 73,975 30,002 24,229 59.9 23.1 9.4 7.6

Georgia..................................................................... 306,200 206,334 58,009 26,657 15,200 67.4 18.9 8.7 5.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho......................................................................... 96,807 56,960 23,954

Illinois....................................................................... 2,815,234 1,804,371 614,034

Indiana..................................................................... 872,230 595,239 182,344

Iowa.......................................................................... 505,680 346,336 102,776

Kansas...................................................................... 151,546 107,846 25,270

Kentucky................................................................. 212,886 146,670 41,231

Louisiana.................................................................. 279,076 194,975 47,282

Maine....................................................................... 178,855 131,747 30,657

Maryland................................................................. 415,368 284,976 80,093

Massachusetts........................................................ 758,055 580,289 128,363

Michigan.................................................................. 2,110,144 1,430,102 417,741

Minnesota................................................................ 856,297 617,463 167,000

Mississippi............................................................... 131,443 83,529 25,842

Missouri................................................................... 682,389 495,285 123,062

Montana.................................................................. 96,834 62,658 20,143

Nebraska.................................................................. 136,233 101,605 22,556

Nevada..................................................................... 55,174 28,085 15,964

New Hampshire........ ............................................ 66,197 48,010 12,363

New Jersey.............................................................. 2,010,466 1,449,238 400,414

New Mexico............................................................ 40,905 24,718 8,165

New York................................................................ 3,326,611 2,281,510 642,288

North Carolina....................................................... 333,991 238,567 55,211

North Dakota........................................................ 111,441 69,793 26,467

2,419,611 1,641,099 495,124

Oklahoma................................................................ 115,217 80,839 19,786

Oregon...................................................................... 362,958 243,213 88,533

Pennsylvania.......................................................... 2,906,693 1,994,366 540,345

Rhode Island.......................................................... 215,231 149,051 46,817

South Carolina....................................................... 88,588 59,198 16,696

South Dakota......................................................... 86,213 58,218 18,904

Tennessee................................................................ 431,943 260,511 93,210

Texas......................................................................... 497,504 299,708 101,185

Utah.......................................................................... 179,820 111,590 34,603

148,167 107,308 29,935

Virginia..................................................................... 562,402 381,036 106,659

Washington............................................................. 515,278 341,106 110,059

West Virginia.......................................................... 264,121 184,564 49,697

Wisconsin................................................................ 1,240,959 887,316 246,650

Wyoming.................................................................. 45,237 26,635 10,239

11,119 4,774 58.8 24.8 11.5 4.9

275,494 121,335 64.1 21.8 9.8 4.3

64,743 29,904 68.3 20.9 7.4 3.4

43,931 12,637 68.5 20.3 8.7 2.5

12,530 5,900 71.2 16.7 8.3 3.8

18,017 6,968 68.9 19.3 8.5 3.3

21,022 15,797 69.9 16.9 7.5 5.7

11,966 4,485 73.7 17.1 6.7 2.5

33,173 17,126 68.6 19.3 8.0 4.1

31,886 17,517 76.6 16.9 4.2 2.3

168,389 93,912 67.8 19.8 8.0 4.4

54,963 16,871 72.1 19.5 6.4 2.0

14,159 7,913 63.5 19.7 10.8 6.0

41,267 22,775 72.6 18.0 6.1 3.3

10,572 3,461 64.7 20.8 10.9 3.6

9,341 2,731 74.6 16.5 6.9 2.0

7,726 3,399 50.9 28.9 14.0 6.2

4,408 1,416 72.5 18.7 6.7 2.1

118,035 42,779 72.1 19.9 5.9 2.1

4,486 3,536 60.4 20.0 11.0 8.6

232,196 170,617 68.6 19.3 7.0 5.1

23,562 16,651 71.4 16.5 7.1 5.0

11,682 3,499 62.6 23.8 10.5 3.1

189,803 93,585 67.8 20.5 7.8 3.9

8,571 6,021 70.2 17.2 7.4 5.2

22,884 8,328 67.0 24.4 6.3 2.3

211,347 160,635 68.6 18.6 7.3 5.5

14,612 4,751 69.2 21.8 6.8 2.2

7,917 4,777 66.8 18.9 8.9 5.4

6,047 3,044 67.5 21.9 7.0 3.6

45,184 33,038 60.3 21.6 10.5 7.6

45,810 50,801 60.3 20.3 9.2 10.2

12,241 21,386 62.1 19.2 6.8 11.9

7,378 3,546 72.4 20.2 5.0 2.4

46,822 27,885 67.8 19.0 8.3 4.9

41,725 22,388 66.2 21.4 8.1 4.3

20,105 9,755 69.9 18.8 7.6 3.7

81,833 25,160 71.5 19.9 6.6 2.0

5,467 2,896 58.9 22.6 12.1 6.4

CODEPOSITS IN INSURED COMMERCIAL BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OF DEPOSITS

Table 71. D i s t r ib u t io n o f D e m a n d D e p o s it s o f I n d iv id u a ls , P a r t n e r s h ip s , a n d C o r p o r a t io n s ,

A c c o r d in g t o S iz e o f A c c o u n t , In s u r e d C o m m e r c ia l B a n k s , S e p te m b e r 30, 1949

Size group

Deposits (in thousands) in accounts of— Percent of total deposits—

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

Demand deposits— total...................................... $77,779,920 $20,755,699 $7,261,805 $9,136,930 $40,625,486 2 6.7% 9 .3 % 11.8% 52.2%

In banks with deposits of—

11,409 8,906 1,529 732 242 78.1 13.4 6.4 2.1

150,848 110,993 21,330 12,852 5,673 73.6 14.1 8.5 3.8

$500,000 to $1,000,000............................................. 991,411 663,680 160,178 110,054 57,499 66.9 16.2 11.1 5.8

$1,000,000 to $2,000,000........................................ 3,022,068 1,824,984 516,106 407,976 273,002 60.4 17.1 13.5 9.0

$2,000,000 to $5,000,000......................................... 7,642,658 4,042,428 1,261,531 1,185,933 1,152,766 52.9 16.5 15.5 15.1

$5,000,000 to $10,000,000.*.................................... 6,579,950 2,915,328 977,272 1,080,881 1,606,469 44.3 14.9 16.4 24.4

$10,000,000 to $25,000,000.................................... 7,585,957 2,699,501 969,126 1,231,223 2,686,107 35.6 12.8 16.2 35.4

$25,000,000 to $50,000,000.................................... 5,424,049 1,576,776 602,400 825,668 2,419,205 29.1 11.1 15.2 44.6

$50,000,000 to $100,000,000................................. 5,417,777 1,305,297 481,396 702,420 2,928,664 24.1 8.9 13.0 54.0

More than $100,000,000.......................................... 40,953,793 5,607,806 2,270,937 3,579,191 29,495,859 13.7 5.6 8.7 72.0

100.0% 100.0% 100.0% 100.0% 100.0%

In banks with deposits of—

<2*0CA AAA r\r load ...... (1) p) 0) 0) (1)

qjocA aaa non .............. .2 .5 .3 .1 C1)

Jcaa aaa fn ii nnn non 1.3 3.2 2.2 1.2 .1

aaa aaa fn <9 Ann nnn 3.9 8.8 7.1 4.5 .7

fcO AAA AAA fA OHO ftftft ......... 9.8 19.5 17.4 13.0 2.8

aaa aaa fn ^iA non non ...... 8.5 14.1 13.5 11.8 4.0

fc1A AAA AAA fA OrtO OOtt . . . 9.7 13.0 13.3 13.5 6.6

AAA AAA fr* nOtt rtrtrt . . . 7.0 7.6 8.3 9.0 6.0

r a AAA AAA fA 00 nttf) ttttO . . 7.0 6.3 6.6 7.7 7.2

fVvoK» nn nnn nnn 52.6 27.0 31.3 39.2 72.6

i Less than 0.05 percent.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 72. D i s t r ib u t io n o f S a v in g s a n d T im e D e p o s it s o f I n d i v i d u a ls , P a r t n e r s h ip s , a n d C o r p o r a t io n s ,

A c c o r d in g t o S iz e o f A c c o u n t , In s u r e d C o m m e r c ia l B a n k s , S e p te m b e r 30, 1949

b a n k s g r o u p e d b y a m o u n t o f d e p o s it s

Size group

Deposits (in thousands) in accounts of— Percent of total deposits—

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

Savings and time accounts— to ta l................. $33,576,721 $21,999,621 $6,898,820 $2,934,572 $1,743,708 65.5% 20.6% 8.7% 5.2%

In banks with deposits of—

$250,000 or less...................................................... 1,844 1,551 231 62 84.1 12 5 3.4

$250,000 to $500,000............................................ 34,651 26,588 5,721 1,912 430 76.7 16.5 5.5 1.3

$500,000 to $1,000,000........................................ 343,194 257,698 64,229 17,928 3,339 75.1 18.7 5.2 1.0

$1,000,000 to $2,000,000..................................... 1,333,669 945,081 268,944 95,356 24,288 70.9 20.2 7.1 1.8

$2,000,000 to $5,000,000..................................... 4,203,760 2,890,671 866,441 337,205 109,443 68.8 20.6 8.0 2.6

$5,000,000 to $10,000,000.................................. 4,269,734 2,934,033 849,870 341,971 143,860 68.7 19.9 8.0 3.4

$10,000,000 to $25,000,000................................ 5,136,201 3,510,641 1,007,105 407,011 211,444 68.4 19.6 7.9 4.1

$25,000,000 to $50,000,000................................ 3,138,474 2,136,925 608,958 230,356 162,235 68.1 19.4 7.3 5.2

$50,000,000 to $100,000,000.............................. 2,584,012 1,738,839 507,645 196,821 140,707 67.3 19.6 7.6 5.5

More than $100,000,000...................................... 12,531,182 7,557,594 2,719,676 1,305,950 947,962 60.3 21.7 10.4 7.6

Percent of total................................................... 100.0% 100.0% 100.0% 100.0% 100.0%

In banks with deposits of—

$250,000 or less...................................................... 0) (x) 0) 0) $250,000 to $500,000............................................ .1 .1 .1 .1 (1)

$500,000 to $1,000,000...................................... 1.0 1.2 .9 .6 .2

$1,000,000 to $2,000,000.................................... 4.0 4.3 3.9 3.2 1.4

$2,000,000 to $5,000,000..................................... 12.5 13.1 12.6 11.5 6.3

$5,000,000 to $10,000,000.................................. 12.7 13.3 12.3 11.7 8.2

$10,000,000 to $25,000,000................................ 15.3 16.0 14.6 13.9 12.1

$25,000,000 to $50,000,000................................ 9.4 9.7 8.8 7.8 9.3

$50,000,000 to $100,000,000.............................. 7.7 7.9 7.4 6.7 8.1

More than $100,000,000...................................... 37.3 34.4 39.4 44.5 54.4

1 Less than 0.05 percent.

C O

ODEPOSITS IN INSURED COMMERCIAL B AN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
o 

o

D e t a il e d T a b l e s : D is t r ib u t io n o f A c c o u n t s a n d D e p o sit s b y Siz e o f A c c o u n t , I n s u r e d M u t u a l Sa v in g s B a n k s

Table 73. D is t r ib u t i o n o f A c c o u n ts A c c o rd in g t o Size, In s u r e d M u t u a l S a v in g s B a n k s, S e p te m b e r 30, 1949

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT, STATE,

AMOUNT OF DEPOSITS, AND POPULATION OF CENTER; AND ACCOUNTS GROUPED BY TYPE

Classification Number

of banks

Number of accounts Percent of total accounts

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More

than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More

than

$25,000

United States................................ 191 12,550,514 11,768,044 746,719 34,679 1,072 93.8% 5.9% .3% (x)%

FDIC District

District 1...................................... 16 192,778 186,086 5,789 866 37 96.5 3.0 .5 (i)

District 2 ...................................... 153 10,094,800 9,412,592 662,337 19,656 215 93.2 6.6 .2 0) District 3 ...................................... 10 1,533,812 1,466,594 53,325 13,113 780 95.6 3.5 .8 .1

District 4 ...................................... 2 201,313 198,868 2,200 229 16 98.8 1.1 .1 (0 District 7 ...................................... 6 55,761 54,071 1,506 162 22 97.0 2.7 .3 0) District 9 ...................................... 1 187,885 179,098 8,353 434 95.3 4 5 .2

District 12.................................... 3 284,165 270,735 13,209 219 2 95.3 4.6 !i 0)

State

Connecticut................................. 3 42,970 40,885 1,679 400 6 95.2 3.9 .9 (!) Indiana......................................... 3 28,653 27,442 1,077 113 21 95.8 3.7 .4 .1

Maine............................................ 6 39,446 38,232 1,022 179 13 96.9 2.6 .5 C1) Maryland..................................... 2 201,313 198,868 2,200 229 16 98.8 1.1 .1 i1)

Minnesota.................................... 1 187,885 179,098 8,353 434 95.3 4.5 .2

New Jersey.................................. 23 759,544 734,168 21,520 3,690 166 96.7 2.8 .5 i1) New York.................................... 130 9,335,256 8,678,424 640,817 15,966 49 93.0 6.8 .2 (1) Ohio............................................... 3 249,498 236,854 10,370 2,024 250 94.9 4.2 .8 .1

Oregon.......................................... 1 8,375 7,409 966 88.5 11.5

Pennsylvania.............................. 7 1,284,314 1,229,740 42,955 11,089 530 95.8 3.3 .9 0) Vermont....................................... 7 110,362 106,969 3,088 287 18 96.9 2.8 .3 0) Washington................................. 2 275,790 263,326 12,243 219 2 95.5 4.4 .1 0)

Wisconsin..................................... 3 27,108 26,629 429 49 1 98.2 1.6 .2 0)

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Banks with deposits of—

$1,000,000 or less...................

$1,000,000 to $2,000,000. . .

$2,000,000 to $5,000,000 . ..

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

$10,000,000 to $25,000,000.

$25,000,000 to $50,000,000.

$50,000,000 to $100,000,000

More than $100,000,000___

Banks in centers with

population of—

500 to 1,000................................

1,000 to 2,500.............................

2,500 to 5,000....

5.000 to 10,000..

10.000 to 15,000.

15.000 to 25,000.

25.000 to 50,000....

50.000 to 100,000..

100.000 to 500,000.

500.000 or more___

Type of account

Deposits of individuals, partnerships, and corporations:

Demand....................................

Savings and time...................

Interbank deposits.....................

Government and postal savings

deposits................................

Uninvested trust funds........

Drafts.......................................

Other items.............................

519

7,029

86,314

250,263

932,131

1,043,238

2,191,490

8,039,530

20,101

48,544

39,208

116,285

75,510

289,205

555,165

322,650

1,790,897

9,292,949

18,445

12,341,009

285

1,069

556

90,028

99,122

495

6,880

82,355

238,963

881,862

990,880

2,082,393

7,484,216

18,205

44,689

36,338

109,147

70,724

274,849

529,090

306,181

1,705,756

8,673,065

18,183

11,559,705

257

519

89,453

98,963

21

128

3,650

10,628

46,628

49,596

102,862

533,206

1,777

3,649

2,758

6,757

4,507

13,143

23,978

15,568

80,009

594,573

175

745,891

17

38

18

505

75

1 Less than 0.05 percent.

95.4

97.9

95.4

95.5

94.6

95.0

95.0

93.1

90.6

92.1

92.7

93.9

93.7

95.0

95.3

94.9

95.2

93.3

98.6

93.7

90.2

90.2

93.3

99.4

99.8

4.0

1.8

4.2

4.2

5.0

4.7

4.7

6.6

8.8

7.5

7.0

5.8

6.0

4.6

4.3

4.8

4.5

6.4

.9

6.0

6.0

3.6

3.2

.5

.1

.4

.3

3.1

3.9

3.1

.1

.1

0)

0)

0)

V)

C1)

0)

(0

(!)

(l)

C1)

0)

0)

0)

0)

C1)

0)

(!)

.1

C1)

.7

2.3

.4

0)

ACCOUNTS AND DEPOSITS IN INSURED MUTUAL SAYINGS BANKS 101

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 7 4 . D i s t r ib u t io n o f D e p o s it s A c c o r d in g t o S iz e o f A c c o u n t , I n s u r e d M u t u a l S a v in g s B a n k s , S e p te m b e r 30, 1949

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT, STATE,

AMOUNT OF DEPOSITS, AND POPULATION OF CENTER; AND ACCOUNTS GROUPED BY TYPE

Deposits (in thousands) in accounts of— Percent of total deposits—

Classification

Total $5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

$5,000

or less

$5,000

to

$10,000

$10,000

to

$25,000

More than

$25,000

United States— total............................................. $13,415,560

151,603

11,493,901

1,289,009

79.660

42,277

155.551

203,559

39,281

30,234

27,482

79.660

155.551

546,556

10,947,345

$8,209,501

103,227

7,058,246

738,089

62,001

29,881

101,935

116,122

23,081

$4,722,880

35,456

$ 440,595

11,382

$ 42,584

1,538

61.2%

68.1

35.2%

23.4

3.3%

7.5

.3%

1.0

FDIC District

District 1..................................................................

District 2 .................................................................. 4,190,619

339,832

13,713

237,000 8,036 61.4 36.4 2.1 .1

District 3 .................................................................. 180,260 30,828 57.2 26.4 14.0 2.4

District 4 .................................................................. 3,035 911 77.8 17.2 3.8 1.2

District 7.................................................................. 9,022

49,153

85,085

10,800

2,161 1,213 70.7 21.3 5.1 2.9

District 9 ................................................................. 4,463

2,294

65.5 31.6 2.9

District 12................................................................ 58 57.1 41.8 1.1 0)

State

Connecticut............................................................. 5,192 208 58.8 27.5 13.2 .5

Indiana..................................................................... 21,146 6,360 1,545 1,183 70.0 21.0 5.1 3.9

Maine....................................................................... 18,107 6,415 2,379 581 65.9 23.3 8.7 2.1

Maryland................................................................. 62,001

101,935

363,260

6,694,986

13,713 3,035 911 77.8 17.2 3.8 1.2

Minnesota.............................................................. 49,153

132,682

4,463

45,694

65.5 31.6 2.9

New Jersey.............................................................. 4,920 66.5 24.3 8.3 .9

New York................................................................ 4,057,937 191,306 3,116 61.2 37.1 1.7

Ohio........................................................................... 234,437 131,572 64,885 27,880 10,100 56.1 27.7 11.9 a

Oregon , . 14,902

1,054,572

84,840

188,657

12,043

9,854

606,517

5,048

274,947

66.1 33.9

Pennsylvania........................................................... 152,380 20,728 57.5 26.1 14.4 2.0

Vermont................................................................... 62,039

106,268

8,735

18,241 3,811 749 73.1 21.5 4.5 .9

Washington........................... .................................. 80,037 2,294 58 56.4 42.4 1.2

Wisconsin................................................................. 2,662 616 30 72.5 22.1 5.1 .3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Banks with deposits of—

$1,000,000 or less...............................................

$1,000,000 to $2,000,000................................

$2,000,000 to $5,000,000.................................

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

$10,000,000 to $25,000,000............................

$25,000,000 to $50,000,000............................

$50,000,000 to $100,000,000..........................

More than $100,000,000..................................

Banks in centers with population of500 to 1,000........................................................

1.000 to 2,500.....................................................

2,500 to 5,000.....................................................

5.000 to 10,000...................................................

10.000 to 15,000................................................

15.000 to 25,000.................................................

25.000 to 50,000.................................................

50.000 to 100,000..............................................

100.000 to 500,000............................................

500.000 or more.................................................

Type of account

Deposits of individuals, partnerships, and

corporations:

Demand.....................................................

Savings and time....................................

Interbank deposits......................................

Government and postal savings deposit

Uninvested trust funds..............................

Drafts.............................................................

Other items...................................................

493

4,796

333

3,721

128

777

32

272 26

67.5

77.6

26.0

16.2

6.5

5.7 .5

73,887 46,323 23,282 3,814 468 62.7 31.5 5.2 .6

210,687 133,332 68,404 8,383 568 63.3 32.4 4.0 .3

875,756 532,513 297,375 41,870 3,998 60.8 34.0 4.8 .4

952,552 596,556 319,015 33,921 3,060 62.6 33.5 3.6 .3

1,978,444 1,233,985 653,828 77,922 12,709 62.4 33.1 3.9 .6

9,318,945 5,662,738 3,360,071 274,381 21,755 60.8 36.1 2.9 .2

28,937 15,872 11,517 1,523 25 54.8 39.8 5.3 .1

56,906 30,164 24,217 2,494 31 53.0 42.5 4.4 .1

46,285 26,754 17,998 1,376 157 57.8 38.9 3.0 .3

120,353 72,230 43,012 4,665 446 60.0 35.7 3.9 .4

76,686 43,212 29,874 3,369 231 56.3 39.0 4.4 .3

251,675 149,380 85,742 15,418 1,135 59.4 34.1 6.1 .4

463,725 280,610 154,411 26,103 2,601 60.5 33.3 5.6 .6

303,071 190,075 99,876 11,332 1,788

2,681

62.7 33.0 3.7 .6

1,500,338

10,567,584

923,278 516,493 57,886 61.5 34.4 3.9 .2

6,477,926 3,739,740 316,429 33,489 61.3 35.4 3.0 .3

9,818 6,925 1,177 960 756 70.5 12.0 9.8 7.7

13,364,210 8,172,391 4,717,323 436,710 37,786 61.1 35.3 3.3 .3

692 373 102 165 52 53.9 14.7 23.9 7.5

2,736 358 248 655 1,475 13.1 9.1 23.9 53.9

863 428 116 250 69 49.6 13.4 29.0 8.0

27,496 22,432 3,375 849 840 81.6 12.3 3.1 3.0

9,745 6,594 539 1,006 1,606 67.7 5.5 10.3 16.5

1 Less than 0.05 percent.

ACCOUNTS AND DEPOSITS IN INSURED MUTUAL SAVINGS BANKS 103

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Federal Reserve Bank of St. Louis
Table 75. A c c o u n ts F u l l y P r o t e c t e d an d D e p o s its In su r e d w ith S p e c ifie d A m o u n ts o f M axim um C o v e r a g e ,

In su r e d C o m m ercia l B a n k s, S e p te m b e r 30, 1949

D e t a il e d T a b l e s : A c c o u n t s F u l l y P r o t e c t e d a n d D e po sits I n s u r e d w it h S p e c if ie d A m o u n t s o f M a x im u m C o v e r a g e o

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

FDIC District and State

Number of accounts with

balances of—

Percentages in

accounts of—

Deposits (in thousands) insured

with maximum coverage of—

Percentage of

deposits insured

with maximum coverage of—

$5,000

or less

$10,000

or less

$25,000

or less

$5,000

or less

$10,000

or less

$25,000

or less $5,000 $10,000 $25,000 $5,000 $10,000 $25,000

United States and possessions ................................. 87,795,611 90,043,996 90,939,566 96.0% 98.5% 99.4% $62,411,269 $72,998,118 $85,064,189 44.8% 52.4% 61.1%

United States 87,752,822 90,000,029 90,895,263 96.0 98.5 99.4 62,381,168 72,963,912 85,026,554 44.8 52.4 61.1

Possessions.............................. 42,789 43,967 44,303 96.3 98.9 99.7 30,101 34,206 37,635 65.6 74.5 82.0

FDIC District

District 1 .................................... 4,996,354 5,097,509 5,139,515 96.7 98.6 99.4 3,089,227 3,604,931 4,253,565 45.5 53.0 62.6

District 2 .................................... 12,874,427 13,226,890 13,384,321 95.3 97.9 99.1 10,088,719 12,056,161 14,735,803 29.5 35.2 43.1

District 3 .................................... 12,148,816 12,439,658 12,547,128 96.4 98.7 99.5 8,291,049 9,565,757 10,958,567 49.1 56.7 64.9

District 4 .................................... 6,797,337 6,921,396 6,972,153 97.1 98.9 99.6 3,898,627 4,497,992 5,185,607 51.0 58.9 67.9

District 5 ................................... 4,309,284 4,403,728 4,443,590 96.5 98.6 99.5 2,659,055 3,103,319 3,624,392 52.8 61.6 71.9

District 6 ................................... 5,973,744 6,103,930 6,157,292 96.5 98.6 99.5 3,924,248 4,562,402 5,308,433 48.7 56.6 65.9

District 7 ................................... 8,351,717 8,570,269 8,642,034 96.3 98.8 99.6 6,164,532 7,019,835 7,878,519 56.4 64.2 72.1

District 8 ................................... 7,477,009 7,710,300 7,802,337 95.2 98.2 99.3 6,084,108 7,176,453 8,394,028 43.4 51.2 59.9

District 9 .................................... 2,946,704 3,037,731 3,069,783 95.5 98.5 99.5 2,526,677 2,906,537 3,277,573 56.8 65.3 73.6

District 10................................. 3,794,903 3,896,934 3,943,356 95.7 98.3 99.4 2,835,357 3,359,470 3,929,583 50.9 60.3 70.6

District 11................................. 5,384,363 5,516,227 5,579,870 95.8 98.2 99.3 3,691,347 4,422,149 5,310,267 44.1 52.9 63.5

District 12................................. 12,740,953 13,119,424 13,258,187 95.7 98.5 99.6 9,158,323 10,723,112 12,207,852 53.0 62.0 70.6

State

Alabama..................................... 1,132,394 1,153,581 1,162,235 97.0 98.9 99.6 627,657 724,232 837,952 54.4 62.8 72.6

Arizona....................................... 301,623 309,985 313,304 95.8 98.5 99.5 217,009 254,320 291,678 54.7 64.1 73.5

Arkansas.................................... 637,667 652,187 658,555 96.3 98.5 99.5 425,120 496,163 575,505 56.5 65.9 76.5

California................................... 9,735,659 10,023,298 10,130,063 95.7 98.5 99.6 6,761,864 7,955,057 9,054,278 52.2 61.4 69.9

Colorado.................................... 701,610 722,807 732,037 95.3 98.1 99.4 556.604 660,082 772,033 50.1 59.4 69.5

Connecticut............................... 1,051,556 1,072,332| 1,080,597 96.8 98.8 99.5 687,455 786,474 903,224 52.4 60.0 68.9

Delaware.................................... 214,115 219,523|

675,064*

222,269 95.6 98.1 99.3 149,199 180,479 218,168 33.5 40.5 49.0

District of Columbia............... 661,017 681,697 96.4 98.5 99.4 455,999 532,299 623,624 44.9 52.4 61.4

Florida........................................ 1,101,235 1,135,704 1,150,086

1,409,744

95.2 98.1 99.4 840,372 995,540 1,170,768 52.1 61.8 72.6

Georgia....................................... 1,373,785 1,398,951 97.0 98.7 99.5 762,784 888,057 1,047,576 48.9 57.0 67.2

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Idaho........................................... 277,818 287,454 291,413 94.7 98.1 99.5 249,461 292,996 333,415 59.8 70.2 79.9 Illinois......................................... 5,826,583 6,012,306 6,086,005 95.1 98.1 99.3 4,776,219 5,659,054 6,679,942 40.3 47.7 56.3 Indiana....................................... 2,262,804 2,323,294 2,344,756 96.1 98.6 99.6 1,670,514 1,919,078 2,179,412 56.3 64.7 73.5

Iowa............................................ 1,650,426 1,697,994 1,716,332 95.8 98.5 99.6 1,307,889 1,517,399 1,714,086 60.7 70.4 79.6

Kansas........................................ 1,040,986 1,069,178 1,081,893 95.7 98.3 99.5 788,636 931,704 1,081,469 55.2 65.2 75.7

Kentucky................................... 1,205,628 1,231,311 1,241,803 96.7 98.7 99.6 781,163 903,331 1,033,176 56.1 64.8 74.1

Louisiana.................................... 1,223,623 1,246,984 1,257,905 96.7 98.6 99.4 696,313 827,552 994,334 42.1 50.0 60.0 Maine......................................... 534,813 543,508 546,680 97.6 99.2 99.7 270,563 306,939 344,456 64.8 73.5 82.5 Maryland................................... 1,275,999 1,300,508 1,310,566 96.9 98.8 99.6 721,988 841,032 969,553 49.2 57.3 66.0 Massachusetts.......................... 2,336,029 2,385,610 2,409,062 96.2 98.3 99.2 1,514,736 1,807,273 2,204,135 37.8 45.1 54.9

Michigan.................................... 3,803,733 3,899,755 3,930,791 96.4 98.8 99.6 2,712,291 3,087,369 3,471,172 53.6 61.0 68.6 Minnesota.................................. 1,898,576 1,948,755 1,965,358 96.1 98.7 99.5 1,498,346 1,703,625 1,923,855 52.7 60.0 67.7 Mississippi................................. 701,870 715,492 721,525 96.9 98.8 99.6 428,242 495,490 568,096 60.0 69.4 79.6

Missouri..................................... 2,635,019 2,693,767 2,718,022 96.4 98.5 99.4 1,783,686 2,083,317 2,454,722 43.9 51.2 60.4

Montana..................................... 334,485 347,258 352,825 94.2 97.8 99.4 314,850 377,590 438,048 53.9 64.7 75.0

Nebraska.................................... 775,359 799,912 810,870 95.0 98.0 99.4 662,606 785,915 914,743 54.5 64.6 75.2 Nevada....................................... 101,261 105,590 107,157 94.0 98.0 99.4 92,467 109,599 126,014 57.0 67.6 77.7 New Hampshire....................... 221,933 226,021 227,778 97.1 98.9 99.6 124,315 144,986 166,493 59.7 69.6 80.0

New Jersey................................ 4,249,790 4,349,760 4,379,106 96.7 99.0 99.7 2,831,115 3,184,054 3,527,211 63.5 71.4 79.1

New Mexico.............................. 225,783 231,626 234,395 95.8 98.3 99.5 158,338 187,697 217,615 52.7 62.5 72.4

New York.................................. 8,402,289 8,649,276 8,774,579 94.6 97.4 98.8 7,105,661 8,688,488 10,986,887 24.2 29.6 37.5 North Carolina......................... 1,331,515 1,355,982 1,366,789 96.9 98.7 99.5 819,382 949.412 1,114,092 47.4 54.9 64.5 North Dakota........................... 332,623 347,377 352,539 94.0 98.1 99.6 365,278 423,571 467,843 71.1 82.4 91.0 Ohio............................................. 4,963,299 5,091,642 5,136,062 96.2 98.7 99.5 3,550,001 4,082,884 4,665,253 50.4 58.0 66.3

Oklahoma.................................. 1,118,502 1,141,120 1,151,979 96.6 98.5 99.5 688,922 814,709 964,277 44.0 52.0 61.5

Oregon........................................ 891,151 920,572 929,980 95.4 98.5 99.5 733,828 844,572 956,316 58.1 66.9 75.8 Pennsylvania............................. 7,185,517 7,348,016 7,411,066 96.5 98.7 99.5 4,741,048 5,482,873 6,293,314 48.2 55.7 63.9

Rhode Island............................ 521,684 532,893 536,771 96.8 98.8 99.6 300,641 349,443 410,304 49.9 58.0 68.1

South Carolina......................... 573,588 585,039 590,070 96.8 98.7 99.5 344,126 401,881 469,653 53.5 62.5 73.1

South Dakota........................... 381,020 394,341 399,061 95.1 98.4 99.6 348,203 401,751 447,827 68.0 78.4 87.4

Tennessee................................... 1,495,430 1,526,665 1,538,912 96.7 98.7 99.5 934,279 1,079,591 1,245,030 50.5 58.4 67.3

Texas........................................... 3,633,334 3,727,632 3,774,266 95.6 98.0 99.3 2,619,687 3,152,580 3,806,640 43.6 52.4 63.3 Utah............................................ 408,016 417,117 420,161 96.7 98.9 99.6 275,479 312,673 353,534 50.7 57.5 65.0

330,339 337,145 338,627 97.4 99.4 99.8 191,517 209,816 224,953 78.0 85.5 91.7

Virginia....................................... 1,954,663 1,987,075 1,999,310 97.4 99.1 99.7 1,014,869 1,159,907 1,317,452 55.0 62.8 71.3

Washington............................... 1,292,992 1,329,757 1,343,477 95.8 98.5 99.5 1,017,867 1,177,149 1,350,197 53.7 62.0 71.2

West Virginia............................ 1,000,555 1,017,728 1,023,721 97.4 99.1 99.7 542,263 613,461 691,233 57.7 65.3 73.6 Wisconsin................................... 2,285,180 2,347,220 2,366,487 96.2 98.8 99.6 1,781,727 2,013,388 2,227,935 61.4 69.4 76.8

Wyoming.................................... 158,446 163,917 166,577 94.5 97.7 99.3 138,589 167,060 197,061 56.4 67.9 80.1

o

Or INSURANCE PROTECTION WITH SPECIFIED COVERAGE

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OF DEPOSITS, POPULATION OF CENTER IN WHICH LOCATED,

PERCENT OF DEPOSITS INSURED, AND CLASS J AND ACCOUNTS GROUPED BY TYPE

T a b le 7 6 . A c c o u n t s F u l l y P r o t e c t e d a n d D e p o s it s I n s u r e d w it h S p e c if ie d A m o u n ts o f M a x im u m C o v e r a g e , §

In s u r e d C o m m e r c ia l B a n k s , S e p te m b e r 30, 1949

Number of accounts with

balances of—

Percentages in

accounts of—

Deposits (in thousands) insured

with maximum coverage of—

Percentage of

deposits insured

with maximum coverage of—

Classification

$5,000

or less

$10,000

or less

$25,000

or less

$5,000

or less

$10,000

or less

$25,000

or less $5,000 $10,000 $25,000 $5,000 $10,000 $25,000

All insured commercial

87,795,611 90,043,996 90,939,566 96.0% 98.5% 99.4% $62,411,269 $72,998,118 $85,064,189 44.8% 52.4% 61.1%

Banks with deposits of—

$250,000 or less........................

$250 000 to $500,000..............

30,165

329,565

1,970,765

5,628,446

14,141,173

30,461

334,112

30,543

335,467

98.7

98.1

99.7

99.5

99.9

99.9

13.314

175,131

1,211,483

3,763,578

9,595,006

14,270

190,763

14,898

201,903

1,426,156

4,577,476

12,020,725

88.2

84.3

94.6

91.8

98.7

97.2

$500*000 to $1,000,000...........

$1,000,000 to $2,000,000....

$2,000,000 to $5,000,000. . . .

2,007,995

5,755,652

14,479,394

2,018,871

5,797,226

14,597,400

97.5

96.9

96.6

99.3

99.1

98.9

99.9

99.8

99.7

1,337,701

4,228,327

10,908,927

81.5

77.3

72.2

90.0

86.9

82.1

95.9

94.1

90.5

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

$10,000,000 to $25,000,000. .

$25,000,000 to $50,000,000. .

$50,000,000 to $100,000,000

More than $100,000,000........

12,319,780

13,094,352

7,721,821

6,179,437

26,380,107

12,609,303

13,406,239

7,915,090

6,336,210

27,169,540

12,714,563

13,525,190

7,993,768

6,402,542

27,523,996

96.6

96.4

96.1

95.8

94.9

98.8

98.7

98.5

98.3

97.7

99.7

99.6

99.5

99.3

99.0

8,170,529

8,801,503

5,408,324

4,484,348

20,788,053

9,349,031

10,159,494

6,315,955

5,297,465

25,196,185

10,467,702

11,569,313

7,336,538

6,317,368

31,132,110

66.4

59.8

51.6

43.3

29.1

75.9

69.0

60.2

51.2

35.2

85.0

78.6

69.9

61.0

43.5

Banks in centers with

population of—

Less than 250................... 559,473 574,142 578,601 96.5 99.0 99,7 420,962 474,057 515,093 68.9 77.6 84.4

250 to 500.................................. 1,642,281 1,683,376 1,695,992 96.7 99.1 99.8 1,173,906 1,315,295 1,413,047 79.3 88.9 95.5

500 to 1 000 ........................ 3,487,982 3,576,708 3,605,676 96.6 99.0 99.8 2,517,884 2,840,724 3,074,395 77.3 87.2 94.4

1 000 to 2 500 ......................... 6,888,708

6,471,863

7,057,050 7,115,473 96.6 98.9 99.8 4,837,295 5,485,544 6,002,566 74.3 84.2 92.2

2 500 to 5,000........................... 6,627,689 6,683,811 96.5 98.9 99.7 4,402,321 5,024,405 5,573,541 69.8 79.6 88.3

5 000 to 10,000......................... 7,370,802 7,548,059 7,613,110 96.5 98.8 99.7 4,995,108 5,722,923 6,397,558 67.4 77.3 86.4

10 000 to 15,000....................... 4,480,135 4,583,605 4,622,039 96.6 98.8 99.6 2,925,727 3,361,251 3,784,655 63.9 73.5 82.7

15 000 to 25,000 ..................... 4,989,962

6,985,886

5,107,918 5,153,119 96.4 98.7 99.6 3,322,001 3,838,447 4,363,223 59.7 69.0 78.5

25 000 to 50,000 ..................... 7,152,291 7,214,177 96.4 98.7 99.6 4,627,153 5,336,226 6,101,166 58.2 67.1 76.7

50 000 to 100,000..................... 6,753,315 6,903,959 6,965,979 96.4 98.6 99.5 4,386,074 5,108,764

12,552,620

5,939,690 51.0 59.4 69.1

100 000 to 500,000................... 15,160,786

23,004,418

15,538,239 15,692,753 95.9 98.3 99.3 10,644,922 14,993,501 40.7 48.0 57.4

600 000 or m or®..................... 23,690,960 23,998,836 95.0 97.8 99.1 18,157,916 21,937,862 26,905,754 29.8 36.0 44.2

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks with percent of

deposits insured of—

100 percent................................ 6,842 6,842 6,842 100.0 100.0 100.0 2,694 2,694 2,694 100.0 100.0 100.0 90 to 99 percent....................... 1,198,887 1,218,503 1,221,702 98.1 99.7 100.0 677,430 713,638 726,374 93.0 97.9 99.7 80 to 89 percent....................... 9,435,945 9,629,736 9,679,542 97.4 99.4 99.9 6,035,796 6,613,410 6,982,454 83.8 91.9 97.0 70 to 79 percent....................... 17,888,428 18,302,931 18,436,554 96.8 99.1 99.8 11,910,150 13,407,820 14,598,945 74.8 84.2 91.7 60 to 69 percent....................... 17,008,854 17,423,179 17,576,379 96.4 98.8 99.6 11,566,986 13,304,475 14,958,963 65.1 74.9 84.2

50 to 59 percent....................... 20,340,713 20,875,654 21,081,919 96.1 98.6 99.6 13,848,470 16,181,321 18,537,791 54.9 64.1 73.4 40 to 49 percent....................... 7,231,737 7,429,063 7,519,339 95.5 98.1 99.3 5,515,762 6,569,283 7,850,914 45.3 53.9 64.5 30 to 39 percent....................... 7,306,958 7,515,347 7,617,529 95.0 97.7 99.0 5,777,872 7,017,568 8,712,091 34.1 41.4 51.4 20 to 29 percent....................... 4,560,253 4,707,890 4,782,188 94.0 97.1 98.6 3,808,127 4,757,776 6,174,654 24.7 30.9 40.1 Less than 20 percent............... 2,816,994 2,934,851 3,017,572 90.2 94.0 96.6 3,267,982 4,430,133 6,519,309 11.7 15.9 23.4

Glass of bank

National banks members

F. R. System........................ 47,739,312 48,982,875 49,496,158 95.9 98.3 99.4 34,014,250 40,075,611 47,216,117 42.3 49.8 58.7 State banks members F. R. S. 20,246,463 20,793,323 21,020,868 95.6 98.2 99.3 15,253,413 18,020,640 21,415,943 38.4 45.4 53.9

Banks not members F. R. S. 19,809,836 20,267,798 20,422,540 96.7 99.0 99.7 13,143,606 14,901,867 16,432,129 68.9 78.1 86.2

Type of account

Deposits of individuals,

partnerships, and corporations:

Demand.................................. 38,666,956 39,721,347 40,324,337 95.0 97.6 99.1 30,825,309 37,612,814 46,067,959 39.6 48.4 59.2 Savings and time................. 43,276,077 44,383,074 44,598,291 97.0 99.4 99.9 28,768,831 31,366,891 32,623,713 85.7 93.4 97.2 Interbank deposits.................. 36,930 47,744 66,792 29.1 37.6 52.6 495,743 920,313 1,955,818 4.4 8.1 17.2 Government and postal savings deposits.......................... 198,797 225,976 252,099 68.0 77.3 86.3 722,349 1,113,268 1,881,828 6.2 9.5 16.0

Uninvested trust funds.......... 678,435 698,815 713,805 93.5 96.3 98.4 557,018 731,935 991,595 25.9 34.1 46.2 Prafts......................................... 573,719 584,766 593,330 95.6 97.5 98.9 311,785 410,731 562,026 35.0 46.1 63.1

Other items................................ 4,364,697 4,382,274 4,390,912 99.3 99.7 99.9 730,234 842,166 981,250 41.1 47.4 55.2

oINSURANCE PROTECTION WITH SPECIFIED COVERAGE

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT, STATE, AMOUNT OF DEPOSIT, AND

POPULATION OF CENTER IN WHICH LOCATED; AND ACCOUNTS GROUPED BY TYPE

T a b le 7 7 . A c c o u n t s F u l l y P r o t e c t e d a n d D e p o s it s In s u r e d w it h S p e c if ie d A m o u n ts o f M a x im u m C o v e r a g e ,

I n s u r e d M u t u a l S a v in g s B a n k s , S e p te m b e r 30, 1949

Classification

Number of accounts with

balances of—

Percentages in

accounts of—

Deposits (in thousands) insured

with maximum coverage of—

Percentage of

deposits insured

with maximum coverage of—

$5,000

or less

$10,000

or less

$25,000

or less

$5,000

or less

$10,000

or less

$25,000

or less $5,000 $10,000 $25,000 $5,000 $10,000 $25,000

United States............................. 11,768,044 12,514,763 12,549,442 93.8% 99.7% 100.0% $12,121,851 $13,289,891 $13,399,776 90.4% 99.1% 99.9%

FDIC District

District 1 .......................... 186,086 191,875 192,741 96.5 99.5 100.0 136,687 147,713 150,990 90.2 97.4 99.6

District 2 .................................. 9,412,592 10,074,929 10,094,585 93.2 99.8 100.0 10,469,286 11,447,575 11,491,240 91.1 99.6 100.0

District 3 .................................. 1,466,594 1,519,919 1,533,032 95.6 99.1 99.9 1,074,179 1,216,851 1,277,681 83.3 94.4 99.1

District 4 ................................... 198,868 201,068 201,297 98.8 99.9 100.0 74,226 78,164 79,149 93.2 98.1 99.4

District 7 ................. 54,071 55,577 55,739 97.0 99.7 100.0 38,331 40,743 41,614 90.7 96.4 98.4

District 9 ............... 179,098 187,451 187,885 95.3 99.8 100.0 145,870 155,428 155,551 93.8 99.9 100.0

District 12................................. 270,735 283,944 284,163 95.3 99.9 100.0 183,272 203,417 203,551 90.0 99.9 100.0

State

Connecticut ........................ 40,885 42,564 42,964 95.1 99.1 100.0 33,506 37,941 39,223 85.3 96.6 99.9

Indiana .......................... 27,442 28,519 28,632 95.8 99.5 99.9 27,201 28,846 29,576 90.0 95.4 97.8

Ivlaine ........................ 38,232 39,254 39,433 96.9 99.5 100.0 24,177 26,442 27,226 88.0 96.2 99.1

Maryland................................... 198,868 201,068 201,297 98.8 99.9 100.0 74,226 78,164 79,149 93.2 98.1 99.4

Minnesota .......................... 179,098 187,451 187,885 95.3 99.8 100.0 145,870 155,428 155,551 93.8 99.9 100.0

New Jersey................................

N ew Y ork .................

734,168 755,688 759,378 96.7 99.5 100.0 490,140 534,502 545,786 89.7 97.8 99.9

8,678,424 9,319,241 9,335,207 93.0 99.8 100.0 9,979,146 10,913,073 10,945,454 91.2 99.7 100.0

Ohio............................................. 236,854 247,224 249,248 94.9 99.1 99.9 194,792 219,197 230,587 83.1 93.5 98.4

Oergon........................................

Pennsylvania............................

Vermont ...................

7,409 8,375 8,375 88.5 100.0 100.0 14,684 14,902 14,902 98.5 100.0 100.0

1,229,740 1,272,695 1,283,784 95.8 99.1 100.0 879,387 997,654 1,047,094 83.4 94.6 99.3

106,969 110,057 110,344 96.9 99.7 100.0 79,004 83,330 84,541 93.1 98.2 99.6

Washington...............................

Wisconsin..................................

263,326 275,569 275,788 95.5 99.9 100.0 168,588 188,515 188,649 89.4 99.9 100.0

26,629 27,058 27,107 98.2 99.8 100.0 11,130 11,897 12,038 92.4 98.8 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks with deposits of—

$1,000,000 or less..................... 495 516 519 95.4 99.4

$1,000,000 to $2,000,000. . . . 6,880 7,008 7,028 97.9 99.7

$2,000,000 to $5,000,000___ 82,355 86,005 86,299 95.4 99.6

$5,000,000 to $10,000,000. . . 238,963 249,591 250,251 95.5 99.7

$10,000,000 to $25,000,000. . 881,862 928,490 932,022 94.6 99.6

$25,000,000 to $50,000,000. . 990,880 1,040,476 1,043,154 95.0 99.7

$50,000,000 to $100,000,000 2,082,393 2,185,255 2,191,221 95.0 99.7

More than $100,000,000........ 7,484,216 8,017,422 8,038,948 93.1 99.7

Banks in centers with

population of—

500 to 1,000.............................. 18,205 19,982 20,100 90.6 99.4

1,000 to 2,500........................... 44,689 48,338 48,543 92.1 99.6

2,500 to 5,000...........................

5,000 to 10,000.........................

36,338 39,096 39,203 92.7 99.7

109,147 115,904 116,271 93.9 99.7

10,000 to 15,000....................... 70,724 75,231 75,505 93.7 99.6

15,000 to 25,000....................... 274,849 287,992 289,175 95.0 99.6

25,000 to 50,000....................... 529,090 553,068 555,090 95.3 99.6

50,000 to 100,000..................... 306,181 321,749 322,614 94.9 99.7

100,000 to 500,000.................. 1,705,756 1,785,765 1,790,809 95.2 99.7

500,000 or more........................ 8,673,065 9,267,638 9,292,132 93.3 99.7

Type of account

Deposits of individuals,

partnerships, and corporations:

Demand.................................. 18,183 18,358 18,424 98.6 99.5

Savings and time................. 11,559,705 12,305,596 12,340,021 93.7 99.7

Interbank deposits................... 257 274 283 90.2 96.1

Government and postal savings deposits.......................... 964 1,002 1,044 90.2 93.7

Uninvested trust funds........... 519 537 554 93.3 96.6

Drafts......................................... 89,453 89,958 90,015 99.4 99.9

Other items................................ 98,963 99,038 99,101 99.8 99.9

1 Because of rounding to tenths of 1 percent, percentages shown as 100.0 may

100.0 453 491 493 91.9 99.6 100.0

100.0 4,466 4,708 4,795 93.1 98.2 100.0

100.0 66,118 72,695 73,794 89.5 98.4 99.9

100.0 189,832 208,456 210,419 90.1 98.9 99.9

100.0 783,858 866,298 874,483 89.5 98.9 99.9

100.0 858,346 943,191 951,592 90.1 99.0 99.9

100.0 1,779,470 1,950,163 1,972,460 89.9 98.6 99.7

100.0 8,439,308 9,243,889 9,311,740 90.6 99.2 99.9

100.0 25,352 28,579 28,937 87.6 98.8 100.0

100.0 49,439 56,441 56,900 86.9 99.2 100.0

100.0 41,104 45,872 46,253 88.8 99.1 99.9

100.0 107,920 119,052 120,257 89.7 98.9 99.9

100.0 67,142 75,876 76,580 87.6 98.9 99.9

100.0 221,160 247,252 251,290 87.9 98.2 99.8

100.0 410,985 455,991 462,999 88.6 98.3 99.8

100.0 272,420 298,961 302,183 89.9 98.6 99.7

100.0 1,348,983 1,491,091 1,499,857 89.9 99.4 100.0

100.0 9,577,346 10,470,776 10,554,520 90.6 99.1 99.9

99.9 8,235 8,972 9,587 83.9 91.4 97.6

100.0 12,078,911 13,243,844 13,351,124 90.4 99.1 99.9

99.3 513 585 690 74.1 84.5 99.7

97.7 883 1,276 1,886 32.3 46.6 68.9

99.6 613 734 844 71.0 85.1 97.8

100.0 25,307 26,507 26,981 92.0 96.4 98.1

100.0 7,389 7,973 8,664 75.0 81.8 88.9

either complete coverage or a coverage of 99.95 percent or more.

INSURANCE PROTECTION WITH SPECIFIED COVERAGE

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
INSTRUCTIONS FOR PREPARATION OF SUMMARY OF DEPOSITS,

FORM 89— CALL NO. 5

AT THE CLOSE OF BUSINESS ON SEPTEMBER 30, 1949

G e n e r a l I n s t r u c t io n s

Deposit classifications correspond with the usual ledger and condition report 

items, with the exception of:

Item 2, ‘Trust funds,” which is found only in banks having trust powers and 

which for Column II is computed from the records of the trust department;

Item 6, “ Outstanding bank drafts/’ which is to be determined by the bank as 

of September 30, 1949; and

Item 7, “ Other deposits,” which will include letters of credit issued for cash, 

certified, officers’ and travelers’ checks outstanding, and amounts due to Federal 

Reserve Bank (transit account). Deposit items included with item 7 under Column 

II should be reported in accordance with Section 326 of the Codified Rules and 

Regulations of the Federal Deposit Insurance Corporation.

Each bank operating a branch or branches is requested to submit only one 

report, a combined report for the bank as a whole. Do not include interbranch deposits 

(amounts due to branches and head office) in making this consolidated report.

The amount of deposits at subitems f and k may be identical for some types of 

deposits.

An entry should be made in every space on the form. Where there are no 

figures to report, the word “ None” must be written or stamped.

The classifications in this report do not depend on whether or not any particular 

item or fund is assessable for deposit insurance.

C o lu m n s I an d II, N u m b e r o f A c c o u n ts an d D e p o s it L ia b ilit ie s

F o r A sse ssm en t P u rp o se s

Under Column II report the deposit liabilities, by type of deposit and size of 

account, which would be shown for September 30, 1949, in Column A of FDIC Form 

555, “Tabulation of Assessment Base.” In Column I show the number of accounts 

corresponding to these deposits.

Report at the various subitems for each type of deposit and for the total at item 8 

the following:

Subitem (a) the total number of deposit accounts;

Subitem (b) the number of accounts with balances of $5,000 or less;

Subitem (c) the number of accounts with balances of $5,000 to $10,000;

Subitem (d) the number of accounts with balances of $10,000 to $25,000;

Subitem (e) the number of accounts with balances of $25,000 or more;

Subitem (f) the total amount of deposit balances;

Subitem (g) the sum of balances in accounts of $5,000 or less;

Subitem (h) the sum of the entire balance in all accounts of $5,000 to $10,000;

Subitem (i) the sum of the entire balance in all accounts of $10,000 to $25,000; and

Subitem (j) the sum of the entire balance in all accounts of $25,000 or more

110

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
INSTRUCTIONS FOR SUMMARY OF DEPOSITS 111

The entire amount of an account should be included under the appropriate subitem. 

For example, the entire $7,493.65 of an account of $7,493.65 should be placed in 

subitem h headed “$5,000.01 to $10,000.00.” Do not enter $5,000.00 in subitem g 

headed “$5,000.00 or less” and $2,493.65 in subitem h headed “$5,000.01 to 

$10,000.00.” Only those accounts the entire balance of which does not exceed $5,000.00

should be included in subitem g headed “$5,000.00 or less.”

For the purposes of this report, kindly note that:

Accounts should not be combined. Each account standing to the credit of 

a depositor, whether or not in the same capacity and the same right, should be 

considered a separate account. The number of accounts reported should agree with 

the number of accounts on the books of the bank. If school savings are carried 

as one account, one account should be reported; if school savings accounts are 

entered individually, the total number of such accounts should be reported.

Each dormant and inactive account should be reported as a separate account.

Report as a separate account each outstanding certificate of deposit, letter 

of credit sold for cash, outstanding draft, certified and officer’s check. However, 

all travelers’ checks outstanding in the same name should be combined and reported 

as one account.

“ Trust funds” for item 2 in Columns I and II means all trust funds (principal 

and/or income cash) retained in cash in the trust department, or deposited in 

the commercial or savings department of the bank, or deposited in any other bank. 

Do not deduct overdrafts, if any, unless such overdrafts may legally be offset 

by a cash balance in a related trust department account. Each trust department

account reflecting trust funds (principal and/or income cash, including cash 

deposited in savings and checking accounts), as shown in the records of the trust 

department, should be reported as a separate account in Column I, items 2a to 2e.

Item 6, “ Outstanding bank drafts” represents outstanding drafts drawn 

on a correspondent or a Federal Reserve bank, other than those issued for purposes 

of the bank’s own transactions.

The total amount of deposits as reported at item 8f should equal the sum of 

items If through 7f and should correspond with the figure for total deposit liabilities 

which would be shown for September 30, 1949, in Column A of FDIC Form 555, 

“ Tabulation of Assessment Base,” with drafts outstanding on that date included.

C o lu m n III, D e p o s it L ia b ilit ie s a s D e f in e d in R e p o r t o f C o n d itio n

Under Column III report the deposit liabilities by type, in total only, at items lk 

through 5k and at item 7k as defined for items 13 to 19 of the uniform report of condition used by the Federal bank supervisory agencies (Form 2130-A for national 

banks; Form 105 for State banks members of the Federal Reserve System; and Form 

64 for State banks not members of the Federal Reserve System). The number of 

accounts and amount of deposits by size of account are not required.

Trust funds to the credit of the trust department of the bank which have been 

deposited in other departments of the bank should be reported at item 2k and 

should not be included in items 4k and 5k.

Reciprocal demand bank balances with banks in the United States as well 

as amounts due to own branches or head office should be excluded from item 3k, 

“Deposits of domestic and foreign banks.”

The total amount of deposits as reported at item 8k should equal the sum 

of items lk through 5k plus item 7k. This sum should be the same as the figure

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

which would be given at item 19 on the uniform report of condition, if Form 2130-A,

Form 105, or Form 64 were to be prepared as of September 30, 1949.

I t e m s 9 a n d 10

Item 9. The sum of the six items called for should be the same as the figure for 

item 1 of Schedule D, “ Cash items in process of collection, including exchanges for 

clearing house’’ if a report of condition were to be prepared as of September 30, 1949.

Banks not now claiming deductions for exchanges on the Corporation’s certified 

statement may estimate, if adequate records are not available, the segregation between 

items “ Credited to deposit accounts,” items “Paid over the counter,” and “ Other” 

items such as checks on other banks received for payments on notes. Banks now 

claiming deductions may estimate the segregation between items “Paid over the 

counter” and “ Other” non-deposit items.

Item 10. “ Cash funds held solely as security for an obligation owing to the bank 

in an amount not in excess of such obligation” includes: payments received on the 

principal of personal instalment loans which are held by the bank pending their 

application on such indebtedness; funds placed with the bank to meet maturing 

acceptances or to secure letters of credit; and other such items. Do not include 

established deposit accounts which are assigned as such security.

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Federal Reserve Bank of St. Louis
SUMMARY OF DEPOSITS 113

S U M M A R Y O F DEPOSITS O F

o£___________________________________ , ______________

(City) (P. 0. Zone No.) (State]

D U P LIC A TE

B u lk may retain th is copy

(Legal title of bank)

AT THE CLOSE OF BUSINESS ON SEPTEMBER >0.1949

FD IC Certificate No._

TD10 Assessment No._

Type op deposit and size op account

Deposit Liabilities

for assessment purposes1

Deposit Liabilities

as defined for

number op accounts AMOUNT OF DEPOSITS report op condition2

dollars CTS dollars CTS

1. Government and postal savings deposits—total.................................. & f k 1 1

(include depoeit* el U. S. Gov. eminent. State*. and political [$5,000.00 or less............. b g Show at lk deposits as deIn accounts of:

$5,000.01 to $10,000.00 e h

fined for items 15 and 16 on

report of condition

$10,000.01 to $25,000.00 d i

$25,000.01 or more e J

2. Trust funds—total.................................................................................. a f t I 1 1

(for columns 1 end II report truat Kindt as recorded in truat department including thoae ro- deposited in other bank*)

[$5,000.00 or less............. b g ■Show at 2k trust funds of

$5,000.01 to $10,000.00 c h

own trust department deposited in own bank

In accounts of:

$10,000.01 to $25,000.00 d 1

$25,000.01 or more e J

3. Deposits of domestic and foreign banks—total................................... a f k 1 1 1 (exclude amount* due to own branche* or head office; for [$5,000.00 or less............. b g Show at 8k deposits as decount* and amount* “due to other bank*" without deduc* $5,000.01 to $10,000.00 e h

fined for item 17 on report

of condition 2s A & T unt* "du*,rom In accounta of:

$10,000.01 to $25,000.00 d I

(thi* exclude* reciprocal demand

$25,000.01 or more e i

4. Demand deposits of individuals, partnerships, and

corooratinns—total............................................................................... a f t 1 1 1

(exclude truit fund* of own tru*t department) [$5,000.00 or less............. b g Show at 4k deposits as de­

$5,000.01 to $10,000.00 c h

fined for item 13 on report of

condition, exclusive of trust

In accounts of:

$10,000.01 to $25,000.00 d I

funds of own trust department as shown in 2k

$25,000.01 or more e J

5. Savings and time deposits of individuals, partnerships,

and comorations—total....................................................................... a f * 1 1 1

(exclude truat fund* of own truat department) [$6,000.00 or less............. b g Show at 5k deposits as de­

$5,000.01 to $10,000.00 e h

fined for item 14 on report of

condition, exclusive of trust

In accounts of:

$10,000,01 to $25,000.00 d i

funds of own trust department as shown in 2k

$25,000.01 or more e J

6. Outstanding bank drafts—total............................................................ a f

[$5,000.00 or less............. b g

In accounts of:

$5,000.01 to $10,000.00 e h

$10,000.01 to $25,000.00 d i

$25,000.01 or more e J

7. Other deposits—total............................................................................. a ( k 1 1 1

[$5,000.00 or less............. b g Show at 7k deposits as deIn accounts of:

$5,000.01 to $10,000.00 e h

fined for item 18 on report

of condition

$10,000.01 to $25,000.00 d 1

$25,000.01 or more e J

a f k 1 1 1

[$5,000.00 or less............. b g Show at 8k the sum of lk

In accounts of:

$5,000.01 to $10,000.00 c h

through 5k frlus 7k—this

sum should agree with item

$10,000.01 to $25,000.00 d i

19 as defined for report of

condition

$25,000.01 or more e J

Cash items in process of collection:

Paid over the counter

(a) Exchanges for clearing house and cash items | |

forwarded for collection on September 30, 1949............$ 1 $ III* (b) Cash items previously forwarded for collection

but not yet collected.........................................................% 1 1 t 1 1 1 $

10. Cash funds held solely as security for an

obligation owing to the bank in an amount not

in excess of such obligation...................................

Total amount whether or not

included in deposits above

Portion included in

column I I above

I I I

Portion included in

column I I I above

' / As required to be reported in Column A of Form 555, “Tabulation of Assessment Base” with outstanding; drafts included. 2/ As defined for items 13 to 19 of the following reports of condition: Form 2130-A for national banks; Form 105 for State banks members Federal Reserve

System; and Form 64 for State banks not members of the Federal Reserve System.

The above statement is correct to the best of ray knowledge and belief— (Name and title of officer)

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Federal Reserve Bank of St. Louis
PART FOUR

LEGISLATION

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St a t e Ba n k in g L e g is l a t io n

In 1949 the legislatures of forty-four States held regular sessions and eight of 

these legislatures held special sessions. The legislatures of two other States held 

special sessions.

This summary includes the more important State banking legislation enacted in 

1949.

SUPERVISORY AUTHORITY

Restriction on use of words “ Bank” , “ Banker” , or “ Banking” . .Alabama (Act 230)

Banking Code...................................................................................California (Ch. 755)

State Banking Fund and revolving fund for operations of Banking Department 

.......................................................................................................California (Ch. 1277)

Deputy State Bank Commissioners and clerical assistants to be paid under general 

provisions relating to State officers and employees................. Colorado (Ch. 123)

Superintendent of Banking to examine application for charter and issue certificate 

within 90 days after application has been filed or to notify the Secretary of State 

of his refusal to approve the granting of the charter................. Georgia (Act 80)

Term of office of Bank Commissioner.......................................... Maryland (Ch. 286)

Publishing of financial reports to Commissioner...........................Minnesota (Ch. 35)

Deputy Commissioner of banking......................................................... Vermont (Ch. 8)

Salaries of deputy Commissioner and examiners.....................West Virginia (Ch. 22)

Microfilming of records......................................................................New York (Ch. 29)

ORGANIZATION AND CHARTER CHANGES

Effect of conversion of State bank into national bank and of merger or consolidation

of State and national banks............................................................................................

Arizona (Ch. 108); Georgia (Act 133); New Jersey (Ch. 46); North Dakota (Ch. 104)

Requirement that holders of two-thirds, instead of three-fourths, of stock shall approve 

increase or decrease of capital stock..............................................Arkansas (Act 261)

Savings bank authorized branches if surplus equals $1 million and not less than 

10 percent of deposits, and out-of-town branches where no main office of another 

savings bank is located..............................................................Connecticut (Act 125)

Conversion of industrial bank to State bank and trust company.............................

.....................................................................................................Connecticut (Act 210)

Organization of trust company and use of trust in name............. Florida (Ch. 25089)

Forfeiture of charter........................................... Georgia (Act 119); Wyoming (Ch. 36)

Minimum capital and surplus requirements.......................................Indiana (Ch. 163)

Conversion of savings bank into State or Federal savings and loan association. . . . 

....................................................................................................... Minnesota (Ch. 337)

Articles of agreement for incorporation....................................Missouri (S.B. 183, 184)

Securities deposit requirement for trust business.............................Oregon (Ch. 100)

Charter amendment............................................................................Vermont (Ch. 203)

Establishment and operation of investment trust banks___ North Dakota (Ch. 108)

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118 FEDERAL DEPOSIT INSURANCE CORPORATION

SHAREHOLDERS

Use of transfer agent or registrar of shares of bank authorized. .Michigan (Act 166)

Rights of dissenting stockholders in merger transaction limited to stockholders of 

merged bank.................................................................................. New York (Ch. 669)

Annual meeting.............................................................................West Virginia (Ch. 24)

g e n e r a l o p e r a t in g p r o v isio n s

Final adjustment of bank statements of account six months after rendition.............

............................................................................................................ Arizona (Ch. 100)

Creation of joint tenancy or other ownership in contents of safety deposit box in box 

rental contract prohibited........................................................... California (Ch. 1597)

Restoration from earnings of surplus reduced by losses...................Nebraska (Ch. 18)

Industrial banks authorized to engage in, or invest 15 percent of capital and surplus 

in stock of corporation organized to conduct, a safe deposit business on the bank 

premises.......................................................................................Connecticut (Act 253)

Retention and destruction of records..............................................................................

Maine (Ch. 57); North Dakota (Ch. 109); Ohio (S.B. 103); Tennessee (Ch. 21)

Lien on safe deposit box contents for unpaid rental charge.........................................

.................................................................New York (Ch. 635); Oklahoma (H.B. 110)

RESERVES

20 percent of required reserve to be held in cash or United States Government obligations, instead of being held in cash with authority to hold 30 percent of such 20 

percent in United States Government obligations..................... Colorado (Ch. 126)

l/6th of required reserve fund, instead of l/3rd, to be held in cash on hand..........

..................................................................................................... Connecticut (Act 127)

Increase of cash reserves of savings banks........................................Vermont (Ch. 209)

Reserve requirements up to amount equal to those of Federal Reserve system may 

be imposed by Banking Board...................................................... New York (Ch. 36)

d epo sit s

Deposit by one person in trust for another. .Arizona (Ch. 100); New Jersey (Ch. 286)

Notice of adverse claim to a deposit need not be recognized until bank served with 

court order or process........................................................................Arizona (Ch. 100)

Deposits and security for public funds...................................................................... .......

California (Ch. 142); South Dakota (Ch. 218); Tennessee (Ch. 94); Texas (Ch. 450)

Industrial banks authorized to receive deposits......................... Connecticut (Act 253)

Limitation on deposits of savings department permitted in other banks......................

..................................................................................................... Connecticut (Act 304)

Joint deposits............................................................................................. Maine (Ch. 24)

Deposits of a minor...................................................................................Ohio (S.B. 103)

Deposits in a fiduciary’s personal account............................................ Maine (Ch. 277)

Escheat of unclaimed deposits..........................................................................................

....................................Maine (Ch. 24); New Jersey (Ch. 197); New York (Ch. 824)

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STATE BANKING LEGISLATION 119

LOANS

Loan up to $2,500 to bank officer or employee authorized............. Colorado (Ch. 125)

Amortized loans of two-thirds value of real estate by savings banks and savings 

departments of State banks may not exceed $20,000 or 1/2 of 1 percent of assets 

of lending institution whichever is greater.................................Connecticut (Act 64)

FHA loans limit extended from 90 percent to 95 percent of appraised value..............

............................................................................................. Connecticut (Acts 72, 168)

Reservation to U. S. of fissionable materials not deemed encumbrance of real estate 

securing mortgage loan...................................................... Connecticut (Acts 55, 169)

Construction loans limited to 50 percent of, or the ratio of the final loan to, the value 

of completed property, whichever is the greater..................... Connecticut (Act 128)

Retail instalment sales financing.................................................Connecticut (Act 281)

Personal and instalment loans...........................................................................................

..................... Florida (Ch. 25343); New York (Ch. 333); Pennsylvania (Act 460)

Limitation on total liability of one borrower....................................................................

.............................Kansas (Ch. 110); New York (Ch. 647); Pennsylvania (Act 163)

Limitation on loans to directors, officers, and employees... .Pennsylvania (Act 163)

Modification of loan limitations___ New Jersey (Ch. 246); South Carolina (Act 226)

Real estate loans.......................................... New Hampshire (Ch. 19); Ohio (S.B. 103)

Loans on bonds secured by mortgages insured by U. S. Department of Agriculture 

...................................................................................................Pennsylvania (Act 458)

INVESTMENTS

Obligations issued, assumed, or guaranteed by International Bank for Reconstruction

and Development.................... .......................... Arkansas (Act 453); Maine (Ch. 55)

By savings banks and savings departments in public utility and telephone corporation 

bonds........................................................................................... Connecticut (Act 333)

General investments....................Kansas (Ch. 110); Ohio (S.B. 103); Texas (Ch. 438)

By savings banks in certain bonds and mortgages...........................................................

.............................Maine (Ch. 299); Massachusetts (Ch. 374); New York (Ch. 545)

By savings banks in obligations of federal intermediate credit banks.........................

................................................................................................. Massachusetts (Ch. 340)

Legal investments of savings banks..........................................New Hampshire (Chs.

51, 209); New York (Ch. 522); North Dakota (Ch. 106); Rhode Island (H.B. 837)

Housing authority bonds..................................................................New York (Ch. 523)

Bank and trust companies authorized to invest funds in stock or obligations of corporations owning bank premises but not to exceed 1/3 of the paid in capital except

in cities where population is over 6,000 with approval of Commissioner..............

...................................................................................................... Oklahoma (H.B. 305)

Investing in bank shares of 10 percent of capital and surplus authorized.................

...................................................................................................Pennsylvania (Act 162)

TRUST ACTIVITIES

Investment in obligations issued, assumed, or guaranteed by International Bank for 

Reconstruction and Development................................................. Arkansas (Act 453)

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120 FEDERAL DEPOSIT INSURANCE CORPORATION

tr u s t a ctiv ities—Continued

Investment in shares of State or Federal building or savings and loan associations

insured by the Federal Savings and Loan Insurance Corporation...........................

..........................................................................Colorado (Ch. 256); New Jersey (Ch. 92)

Nominee in whose name stock, owned by a fiduciary, is registered required to either 

endorse stock certificate in blank or give power of attorney for transfer in blank 

............................................................................................................ Connecticut (Act 280)

Fiduciary bank or trust company with power to retain investments authorized to 

retain investment in stock of fiduciary..............................................Delaware (Ch. 19)

The Trustee Savings A ct...........................................................................Georgia (Act 256)

Common trust fund.................................................................................. Alabama (Act 262);

Idaho (Ch. 34); Illinois (H.B. 580); Indiana (Ch. 70); Massachusetts (Ch. 755)

Prudent man investment rule................................. Kansas (Ch. 319); Oregon (Ch. 220)

Registration in name of nominee of stock held by fiduciary. . Massachusetts (Ch. 428)

Trust company powers.............................................................................Vermont (Ch. 211)

Investments by fiduciaries.........................Pennsylvania (Act 544); Wisconsin (Ch. 26)

Succession to fiduciary capacity after merger into out-State corporation...................

..........................................................................................................Pennsylvania (Act 466)

DIRECTORS, TRUSTEES, OFFICERS, AND EMPLOYEES

Requirement that majority, instead of three-fourths, of directors shall meet monthly 

....................................................................................................................Arizona (Ch. 107)

Loan up to $2,500 to bank officer or employee authorized..............Colorado (Ch. 125)

Life and medical benefit insurance up to $5,000 for any savings bank officer or employee authorized............................................................................ Connecticut (Act 130)

Qualifying shares and oaths of industrial bank directors............Connecticut (Act 285)

Qualifications of directors....................................................................Georgia (Act No. 97)

Group insurance and retirement plan authorized for mutual savings bank officers 

and employees..................................................Indiana (Ch. 182); New York (Ch. 691)

Loan limitations...................................Massachusetts (Ch. 34); Pennsylvania (Ch. 163)

Removal of trustees of savings banks...........................................Massachusetts (Ch. 63)

CHECKS AND COLLECTIONS

Banks exempted from liability for paying postdated checks except where word “ Postdated” included.....................................................................................Alabama (Act 229)

Limitation on liability for non-payment of checks to actual damages.............................

....................................................................................................................Arizona (Ch. 100)

Time limit on stop-payment orders on checks. . .Arizona (Ch. 100); Indiana (Ch. 48)

Authority to refuse payment of checks six months after date... .Arizona (Ch. 100)

Authority to pay check after death or incompetency of maker or drawer prior to 

notice......................................................................................................... Arizona (Ch. 100)

Limitation on liability for payment of forged checks...........................................................

...............................................................................Arizona (Ch. 100); Wisconsin (Ch. 56)

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STATE BANKING LEGISLATION 121

c h e c k s a n d c o l l e c t i o n s —Continued

Deferred posting and delayed returns act. . . .Arizona (Ch. 100); Colorado (Ch. 124); 

Connecticut (Act 147); Delaware (Ch. 21); Georgia (Act 132); Idaho (Ch. 35); 

Indiana (Ch. 74); Iowa (Ch. 225); Kansas (Chs. Ill, 305); Maine (Ch. 61); Maryland 

(Ch. 441); New Hampshire (Ch. 65); New Mexico (Ch. 52); North Dakota (Ch. 110); 

Ohio (S.B. 103); Oklahoma (H.B. 92); Oregon (Ch. 84); Pennsylvania (Act 136); 

South Carolina (Act 247); South Dakota (Ch. 21); Utah (Ch. 6); Wisconsin (Ch. 58)

Payment of checks credited to deposit account conditional for one day.....................

............................................................................................... North Carolina (Ch. 954)

Fraudulent checks.................................................... Idaho (Ch. I ll); Oregon (Ch. 129)

Escheat of uncashed domestic travelers’ checks or money orders. .New York (Ch. 824)

Charges on cashiers’ checks authorized for transmission of revenue.........................

............................................................................................. North Carolina (Ch. 1183)

Disposition of unclaimed, cancelled, and paid checks and drafts after six years from

payment............................................................................................Tennessee (Ch. 21)

HOLIDAYS

Five-day week with bank open full day on Saturday if closed on other weekday. . . . 

............................................................................................................ Arizona (Ch. 101)

Five-day week............. Arkansas (Act 194); Illinois (H.B. 302); Indiana (Ch. 108)

Saturday holiday....................................................Colorado (Ch. 122); Delaware (Ch.

40—one city and three counties); Georgia (Act 130—Sat., Wed., or Thurs.); Oregon 

(Ch. 80); Tennessee (Ch. 187—Sat. or Wed.); Utah (Ch. 7—June to Sept.)

Transaction of business on holidays..................................................................................

................. Georgia (Act No. 90); North Dakota (Ch. I ll); Wisconsin (Ch. 549)

Legal holidays..........Maryland (Ch. 221); North Dakota (Ch. 93); Oregon (Ch. 145)

Forty-eight hour legal holiday whenever officer in charge declares it because employees 

or institution endangered by impending or existing hurricane or other catastrophe, 

including fire and civil disturbances............................................. Florida (Ch. 25044)

TAXATION

California (Chs. 513, 557, 1542, 1545)

...........................New Jersey (Ch. 291)

...............................New York (Ch. 73)

.............................New York (Ch. 369)

LIQUIDATION

Disposal of unclaimed dividends.................................................South Dakota (Ch. 22)

Subrogation rights of the Federal Deposit Insurance Corporation.. .Oregon (Ch. 276)

Appointment of Federal Deposit Insurance Corporation as receiver without bond 

of insured State banks authorized................... Oregon (Ch. 89); Wyoming (Ch. 140)

Voluntary liquidation.................................................................. Pennsylvania (Act 166)

Final accounting...........................................................................Pennsylvania (Act 546)

Income tax...............

Capital stock............

War losses.................

Common trust funds

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122 FEDERAL DEPOSIT INSURANCE CORPORATION

MISCELLANEOUS

Prohibition of distribution of material having appearance of duly executed check, 

draft, or bill of exchange, when it is not.......................................Alabama (Act 256)

Joint control of deposits of money or assets by surety and any principal required 

to give bond.....................................................................................Alabama (Act 636)

Safe-keeping receipts issued by banks covering any bond or securities to be accepted 

by State treasurer......................................................................... Florida (Ch. 25419)

Assignment of accounts receivable................... Kansas (Ch. 112); Nebraska (Ch. 194)

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Federal Reserve Bank of St. Louis
PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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Federal Reserve Bank of St. Louis
Table 101. Changes in number and classification of operating banks and branches in the United 

States and possessions during 1949

Table 102. Number of operating banks and branches, December 31, 1949

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

of office

Table 103. Number and deposits of operating banks, December 31, 1949

Banks grouped according to insurance status and by district and State

N u m b e r , O f f ic e s, a n d D e p o sit s of O p e r a t in g B a n k s

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. Uninvested trust funds of trust companies may 

be insured by the Federal Deposit Insurance Corporation, and companies specializing in fiduciary activities are engaged in a type of 

business the bulk of which is handled by banks of deposit. Credit 

unions and savings and loan associations are excluded from the tabulations, except in the case of a few institutions accepting deposits under 

the terms of special charters. A more detailed statement of institutions 

included and excluded is given below.

The tabulations for all banks and trust companies shown here and 

in Tables 104-106 are prepared in accordance with an agreement 

among the Federal bank supervisory agencies.

The data are tabulated from individual reports of assets and liabilities 

of the banks included. This procedure permits exclusion or inclusion 

of any particular institution on the basis of the principles adopted. 

The data relate to banks operating in the United States and possessions.

Institutions included are classified in three groups: commercial 

and stock savings banks, nondeposit trust companies, and mutual 

savings banks. However, in the case of insured banks the first two 

of these groups are combined.

Nondeposit trust companies include institutions operating under 

trust company charters which are not regularly engaged in deposit 

banking but are engaged in fiduciary business other than that incidental 

to real estate title or investment activities.

Mutual savings banks include all banks operating under State 

banking codes applying to mutual savings banks.

124 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Commercial and stock savings banks include the following 

categories of banking institutions:

National banks;

Incorporated State banks, trust companies, and bank and trust 

companies, regularly engaged in the business of receiving deposits, 

whether demand or time, except mutual savings banks;

Stock savings banks, including guaranty savings banks in New 

Hampshire;

Industrial and Morris Plan banks which operate under general 

banking codes, or are specifically authorized by law to accept deposits 

and in practice do so, or the obligations of which are regarded as 

deposits for deposit insurance;

Special types of banks of deposit: cash depositories in South 

Carolina; cooperative exchanges in Arkansas; savings and loan 

companies operating under Superior Court charters in Georgia; 

government operated banks in American Samoa, Guam, 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; and the Savings Banks Trust Company in 

New York.

Private banks under State supervision, and such other private 

banks as are reported by reliable unofficial sources to be engaged 

in deposit banking;

Branches of foreign banks which engage in a general deposit 

business in the continental United States or in the possessions;

In the possessions, branches of American banks engaged in a 

general deposit business.

Institutions excluded. Institutions in the following categories are 

excluded, though such institutions may perform many of the same 

functions as banks:

Banks which have suspended operations or have ceased to accept 

new deposits and are proceeding to liquidate their assets and pay 

off existing deposits, regardless of the amount of deposit liability still 

remaining and regardless of whether they are listed among operating 

banks or included in abstracts of condition of banks published by 

State banking authorities;

Building and loan associations, savings and loan associations, 

credit unions, personal loan companies, and similar institutions, 

chartered under 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. SNUM BER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

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Table 101. C h a n g e s in N u m b er an d C la s s ific 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 t a t e s an d P o sse ssio n s D u r in g 1949 to

05

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks

Insured1 Noninsured

Type oFchange

Total In­ Non­ Total

Members F. R.

System Not

members

F. R.

System

Banks

of deposit

Nondeposit Total In­ Nonsured insured Total

National State

trust

companies

sured2 insured

BANKS

Number nf hqtiks, December 31, 1949............... ........................ 14,736 13,628 1,108 14,205 13,436 4,975 1,914 6,547 704 65 531 192 339

14,753

-17

13,612

+ 16

61

1,141 14,221 13,419 4,991 1,924 6,504 735 67 532 193 339

Net change during year.................................................................. -33 -16 + 17 -16 -10 + 43 -31 -2 -1 -1

Banks beginning operations..................................................... 80 19 79 60 12 6 42 19 1 1

New banks ............................................................................... 67 58 9 67 58 12 6 40 9

Other additions to operating banks** ............. 13 3 10 12 2 2 10 1 1

Banks ceasing operations.......................................................... 97 83 14 95 81 34 16 31 11 3 2 2

Suspended banks not reopened or succeeded ................. 4 4 4 4

Merged with financial aid of FDIC— net decrease............. 4 4 4 4 1 3

Mergers and absorptions (without FDIC aid)— net

decrease...................................................................... .. 76 75 1 74 73 31 16 26 1 2 2

Other liquidations . . . ......................................... 12 4 8 12 4 2 2 5 3

Institution excluded* ..................................................... 1 1 1 1

Noninsured banks becoming insured .. + 39

+ 7

+29

+ 3

-1

-39 + 39

+ 7

+ 1

+ 1

+ 3 + 35

+ 6

-38 -1

Successions to noninsured banks ........................................ -7 -7

Admissions to insurance operating banks® -29 + 29

+ 3

-1

+29 -28 -1

Admissions to F. R. System . ........................................... -3 + 3

-3

-3

Other changes in classification among banks ........... + 1 + 5

+ 6

-1

-3 -1 + 2

National banks succeeding State banks . . . . -4 -2

State bank succeeding national bank. ............. + 1

Admissions to F. R System + 12 -12

Withdrawals from F R System . . . . + 11 -11

Withdrawal from insurance........................................................ -1 + 1 -1 -1 + 1

-1 + 1

Changes not involving number in any class:

Successions . ......................................... ................................... 3 3 3 3 1 2

Changes in title, location, or name of location..................... 122 118 4 117 114 18 9 87 2 1 5 4 1

Changes in corporate powers ................... 4 4 4 4 4

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Number of branches, December 31, 1949.

Number of branches, December 31, 1948.

BRANCHES

Net change during year.

Branches opened for business................................

Facilities provided as agents of the government.

Absorbed banks converted into branches.............

Branches replacing offices relocated.......................

Other branches opened6.............................................

Branches not previously included...........................

Branches discontinued7.............................................

Branches removed from count.................................

Other branches discontinued....................................

Other changes in classification among branches. .

Branches of noninsured banks admitted to insurance.

Branches of noninsured banks admitted to F. R. System

Branches transferred as result of absorption or succession.

Admission to F. R. System.....................................................

Withdrawals from F. R. System..........................................

Changes not involving number in any class:

Change in title, location, or name of location. .

ALL BANKING OFFICES

Number of offices, December 31, 1949.

Number of offices, December 31, 1948.

Net change during year.

Offices opened.

Banks..............

Branches.........

Offices closed.

Banks............

Branches.. . .

Changes in classification.

Among banks......................

Among branches................

1

4,864

4,613

4,671

4,415

193

198

4,665

4,431

4,530

4,283

2,085

1,965

1,302

1,232

1,143

1,086

134

147

1

1

199

182

141

132

58

50

+251 +256 -5 +234 +247 + 120 + 70 + 57

47

-13 + 17

18

+ 9

10

+ 8

264 247 17 246 237 123 67 9 8

25 25 25 25 21 1 3

61 58 3 60 57 27 19 11 3 1 1

5 5 5 5 1 1 3

171 158 13 154 149 74 46 29 5 17 9 8

2 1 1 2 1 1 1

13 9 4 12 8 1 4 3 4 1 1

2 1 1 2 1 1 1

11 8 3 10 7 1 3 3 3 1 1

+ 18 -18 + 18 -2 + 7 + 13

+ 7

-18

+ 7 -7 + 7 -7

+ 11 -11 + 11 + 11 -11

-2 + 3

+ 1

-8

-1

-1

+ 8

110 11 112 102 68 20 14121 10 9 8 1

19,600

19,366

18,299

18,027

1,301

1,339

18,870

18,652

17,966

17,702

7,060

6,956

3,216

3,156

7,690

7,590

838

882

66

68

730

714

333

325

397

389

+234 +272 -38 +218 +264 + 104 + 60 + 100 -44 -2 + 16 + 8 + 8

344 308 36 325 297 135 73 89 28 19 11 8

80 61 19 79 60 12 6 42 19 1 1

264 247 17 246 237 123 67 47 9 18 10 8

110 92 18 107 89 35 20 34 15 3 3 3

97 83 14 95 81 34 16 31 11 3 2 2

13 9 4 12 8 1 4 3 4 1 1

+ 56 -56 + 56 + 4 + 7 + 4 5

+32

+ 13

-57 + 1

+38 -38 + 38 + 6 -39 + 1

+ 18 -18 + 18 -2 + 7 -18

1 Includes 6 trust companies not engaged in deposit banking on December 31, 1949, and 7 trust companies not engaged in deposit banking on December 31, 1948.

8 Includes 3 mutual savings banks members of the Federal Reserve System for December 31, 1949, and December 31, 1948.

* Includes industrial banks authorized by statute or otherwise to accept deposits and other financial institutions previously in operation which became banks of deposit.

4 Institution previously included which operates under trust company charter but does not engage in deposit banking nor in the fiduciary business,

6 Includes 26 banks operating at beginning of year (one of which was a nondeposit trust company which became a bank of deposit) and 3 banks opened during the year.

8 Includes 6 branches opened prior to beginning of year but not included in count as of December 31, 1948. tO

7 Includes 2 branches discontinued prior to beginning of year.

NUM BER. OFFICES, AND DEPOSITS OF OPERATING BAN K S

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Federal Reserve Bank of St. Louis
T a b le 1 0 2 . N u m b e r o f O p e r a t in g B a n k s a n d B r a n c h e s , D e c e m b e r 31, 1949

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND B Y STATE AND TYPE OF O FFICE

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—

Total Insured Noninsured Total

Insured1 Noninsured

Total Insured2

Noninsured

All

banks

Commercial

banks

Mutual

savings

Total banks

Members F. R.

System Not

members

F. R.

System

Banks

of deposit

Nondeposit

trust

companies

National State

United States and possessions........ 19,600 18,299 1,301 18,870 17,966 7,060 3,216 7,690 838 66 730 333 397 93.4 95.2 45.6

All banks................................................. 14,736 13,628 1,108 14,205 13,436 4,975 1,914 6,547 704 65 531 192 339 92.5 94.6 36.2

Unit banks.......................................... 13,389 12,365 1,02k 12,968 12,238 kfik7 1,698 5,893 666 6k k21 127 29k 92.k 9k.k 30.2

Banks operating branches................ 1,3U7 1,263 8k 1,237 1,198 328 216 65k 38 1 110 65 k5 93.8 96.8 59.1

Branches................................................. 4,864 4,671 193 4,665 4,530 2,085 1,302 1,143 134 1 199 141 58 96.0 97.1 70.9

United States.......................................... 19,465 18,288 1,177 18,735 17,955 7,060 3,216 7,679 719 61 730 333 397 94.0 95.8 45.6

All banks................................................. 14,687 13,621 1,066 14,156 13,429 4,975 1,914 6,540 667 60 531 192 339 92.7 94.9 36.2

Unit banks.......................................... 13,351 12,361 990 12,930 12,23^ k,6J>7 1,698 5,889 637 59 k21 127 29k 92.6 9k-6 30.2

Banks operating branches................ 1,336 1,260 76 1,226 1,195 328 216 651 30 1 110 65 U5 9 k.3 97.5 59.1

Branches................................................. 4,778 4,667 111 4,579 4,526 2,085 1,302 1,139 52 1 199 141 58 97.7 98.8 70.9

Possessions............................................... 135 11 124 135 11 11 119 5 8.1 8.1

All banks................................................. 49 7 42 49 7 7 37 5 14.3 14.3

Unit banks.......................................... 38 u 3k 38 k k 29 5 10.5 10.5

Banks operating branches................ 11 3 8 11 3 3 8 27.3 27.3

Branches................................................. 86 4 82 86 4 4 82 4.7 4.7

State

Alabama.................................................... 248 247 1 248 247 91 24 132 1 99.6 99.6

All banks................................................. 225 224 1 225 224 69 23 132 1 99.6 99.6

Unit banks.......................................... 221 220 1 221 220 66 22 132 1 99.5 99.5

Banks operating branches................ u k u k 3 1 100.0 100.0

Branches................................................. 23 23 23 23 22 1 100.0 100.0

Arizona...................................................... 62 60 2 62 60 39 4 17 2 96.8 96.8

All banks................................................. 10 9 1 10 9 3 2 4 1 90.0 90.0

Unit banks.......................................... 3 3 3 3 1 1 1 100.0 100.0

Banks operating branches................ 7 6 1 7 6 2 1 3 1 85.7 85.7

Branches................................................. 52 51 1 52 51 36 2 13 1 98.1 98.1

Arkansas................................................... 253 242 11 253 242 54 16 172 10 1 95.7 95.7

All banks................................................. 232 221 11 232 221 52 16 153 10 1 95.3 95.3

Unit banks.......................................... 213 202 11 213 202 50 16 136 10 1 9k-8 9k.8

Banks operating branches................ 19 19 19 19 2 17 100.0 100.0

Branches................................................. 21 21 21 21 2 19 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
California.................................

All banka................................

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 branches

Branches................................

Georgia.....................................

All banks................................

Unit banks.........................

Banks operating branches,

Branches................................

Idaho.........................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Illinois.......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

1,143 12 1,155 1,143 852

195 11 206 195 94

155 10 165 155 81

uo

1 hi UO 13

948

1 949 948 758

141

9 150 141 78

140

9 149 140 77

139 9 1U8 139 76 1 1 1 1 1 1 1 1

134 94 153 131 60

98 91 117 95 47

8U 88 103 81 uo

1U

3

U

U

7

36

3 36 36 13

52

4 53 52 13

37

3 38 37 13

30 2 31 30 13 7 1 7 7

15

1 15 15

60 60 60 31

19 19 19 9 5 5 5 2 U U 1U 7

41 41 41 22

193

4 197 193 64

189 4 193 189 61

185

U 189 185 58

U U U

3

4

4

4

3

365 69 434 365 75

328 68 396 328 51

311 67 378 311 US

17 1 18 17 8

37 1 38 37 24

95

1 96 95 60

42 1 43 42 14

3U

1 35 3U

9

8 8 8 5

53 53 53 46

877 16 893 877 385

874 16 890 874 382

871 16 887 871 379 3 3 3 3

3 3 3

3

1,155

206

165

U1

949

150

149

1U811

228

189

172

17

39

56

40

828

16

60

195U

41

197

193

189U4

434

396

378

18

38

96

43

358

53

893

890

88733

171

25

15

10

146

15

15

15

34

16

12u

1894135

1662U

10

12

12

12

24

16

12U

13

11

1012

123

123

123

120

76

59

17

44

48

48

U8

37

32

2935

30

20

16U

10

134139

117

116

11511

266

261

25655

22

17

1525

369

369

369

3 9 99.0 99.0 2 9 94.7 94.7 1 9 93.9 93.9 1 97.6 97.6 1 99.9 99.9

9 94.0 94.0 9 94.0 94.0 9 93.9 93.9

100.0 100.0

100.0 100.0

21

21

21

111

75

72

693

333

72

69

663

58.8

51.9

U8.8

82.U

92.3

85.6

81.2

78.6

100.0

3 3 100.0

1 3 3 92.9 98.1 1 2 2 92.5 97.4

1 1 1 93.8 96.8

1 1 87.5 100.0

1 1 93.8

100.0

100.0

100.0

100.0 100.0

100.0 100.0

100.0 100.0

100.0 100.0

2 2 98.0 98.0

2 2 97.9 97.9 2 2 97.9 97.9

100.0 100.0

100.0 100.0

69 84.1 84.1

68 82.8 82.8

67 82.3 82.3 1 9U.U

97.4

9U.U

1 97.4 1 99.0 99.0 1 97.7 97.7 1 97.1 97.1

100.0 100.0

100.0 100.0

13 3 98.2 98.2

13 3 98.2 98.2

13 3 98.2 98.2

100.0 100.0

100.0 100.0

4.0

4.2

U.3

tooNUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 1 0 2 . N u m b e r o f O p e r a t in g B a n k s a n d B r a n c h e s , D e c e m b e r 31, 1949— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND B Y STATE AND TYPE OF O FFICE

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks Insured banks

as percentages of—

Insured1 Noninsured

State and type of bank or office

Total Insured Noninsured Total

Total

Members F. R.

System Not

mem­ Banks

Nondeposit Total In­ Noninsured

All

banks

Commercial

Mutual

savings

National State

bers

F. R.

System

of deposit

trust

companies

sured2 banks banks

Indiana...................................................... 592 579 13 588

488

U8U

5U

576

477

m

58

152

125

u u

11

128

111

108

8

296

241

202

10

9

g

A

97.8

97.6

97.5

98.1

99.0

92.1

91.0

89.7

96.7

97.0

75.6

75.6

75.6

98.0

97.7

97.7

98.1

99.0

92.1

91.0

89.7

96.7

97.0

75.6

75.6

75.6

492 480 12

11

z

o A

6

3

1 75.0

75.0 Unit banks. 75.0 ......................................... US8

5U

U27

58

£

9

4

/

1

Banks operating branches................ 1 89 1

8 1

Branches................................................. 100 99 1 100 99 27 17 55 1

Iowa............................................................. 828 763 65 828 763 97 64 602 64 1

All banks................................................. 664 604 60 664 604 97 64 443 59 1

Unit banks.......................................... 5U U88 56 5U U88 97 6U 827 55 1

Banks operating branches................ 120 116 h 120 116 116 u

Branches................................................. 164 159 5 164 159 159 5

Kansas........................................................ 610 461 149 610 461 174 41 246 149

All banks................................................. 610 461 149 610 461 174 41 246 149 Unit banks.......................................... 610 U 61 1U9 610 U61 17 k U 2U6 1U9

Banks operating branches................

Branches.................................................

Kentucky.................................................. 427 403 24 427 403 109 28 266 21 3 94.4

93.8

98.U

100.0

100.0

99.6

99.4

99.2

100.0

100.0

72.0

62.5

94.4

93.8

98.h.

100.0

100.0

99.6

99.4

99.2

All banks................................................. 386 362 24 386 362 92 20 250 21

21

3

Unit banks.......................................... S6U 8U0 n 86U 8U0 90 15 285 8

Banks operating branches................ 22 22 22 22 2 5 15

Branches................................................. 41 41 41 41 17 8 16

Louisiana.................................................. 234 233 i 234 233 71 18 144 1

All banks................................................. 162 161 i 162 161 35 11 115 1

Unit banks.......................................... 128 122 i 128 122 26 5 91 1

Banks operating branches................ 89 89 89 89 9 6 2U 100.0

100.0

85.8

84.4

Branches.................................................. 72 72 72 72 36 7 29

M aine.......................................................... 168 121 47 134 115 41

33

28

34

5

40

167

19

10

i

34

32

80

2

28

26

17.6

18.8

20.0

All banks................................................. 96 60 36 64 54

D

6 Unit banks................................. .. 70 U2 /*

18

28 uo

2U

86 1

Banks operating branches................ 26 8 18 5 u 9

•¥■

6

o 2U

2

60.0

69.2

84.7

90.0

75.0

87.1 Branches................................................. 72 61 11 70 61 8 29 24 9 2 o

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
M a r y la n d ...........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

M a ssa ch u se tts ...................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..............................

M ic h ig a n ...........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

M in n e so ta ........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

M is s is s ip p i........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches...................................

M is s o u r i.........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..........................

304

173

139

SU

131

587

374

289

85

213

671

446

38k

62

225

689

683

6812

266

202

167

35

64

598

598

598

292

164

133

31

128

343

175

125

50

168

637

418

358

60

219

667

661

659

262

198

163

35

64

571

571

571

244

199

16k

35

45

34

28

2626

22

22

279

164

133

31

115

354

184

133

51

170

671

446

38k

62

225

688

682

68026

266

202

167

35

64

598

598

598

276

162

132

30

114

343

175

125

50

168

637

418

358

60

219

666

660

65826

262

198

163

35

64

571

571

571

82

61

5k7

21

207

118

95

23

89

157

78

66

12

79

185

179

17726

28

24

2314

79

79

79

72

1697

56

89

258

17

64

247

153

139

lk

94

28

28

101

101

101

122

85

69

16

37

47

32

22

10

15

233

187

153

3k

46

453

453

k53

226

167

13k

33

59

391

391

391

25963

16

233

190

156

3k

43

233

190

156

3k

43

96.1

94.8

95.7

91.2

97.7

58.4

46.8

k3.3

58.8

78.9

94.9

93.7

93.2

96.8

97.3

96.8

96.8

96.8

100.0

100.0

98.5

98.0

97.6

100.0

100.0

95.5

95.5

95.5

98.9

98.8

99.2

96.8

99.1

96.9

95.1

9k.O

98.0

98.8

94.9

93.7

93.2

96.8

97.3

96.8

96.8

96.8

100.0

100.0

98.5

98.0

97.6

100.0

100.0

95.5

95.5

95.5

64.0

22.2

16.7

33.3

87.5

100.0

100.0

100.0

M o n t a n a ...........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

I l l

111

111

111

111

111

111

111

111

111

111

111

39

39

45

45

k5

27

27

27

100.0

100.0

100.0

100.0

100.0

100.0

N e b ra sk a ...........................

All banks..................................

Unit banks:..... .........

Banks operating branches.

Branches..................................

N e vad a...............................

All banks..................................

... Unit banks...^— -------

Banks operating branches.

Branches..............................

417

415

kl32

363

361

35922

27835

19

417

415

kis22

278

„_85

19

363

361

35922

27835

19

127

125

12322

19523

14

17

17

17

219

219

219

87.1

87.0

86.9

100.0

100.0

100.0

100.0

100.0

100.0

100.0

87.1

87.0

86.9

100.0

100.0

100.0

100.0

100.0

100.0

100.0

NUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

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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 , D e c e m b e r 31, 1949— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND B Y STATE AND TYPE OF O FFICE

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks Insured banks

as percentages of—

Insured1 Noninsured

State and type of bank or office

Total Insured Noninsured Total

Total

Members F. R.

System Not

mem­ Banks

Nondeposit Total Insured2

NoninsuredAll

banks

Commercial

Mutual

savings

National State

bers

F. R.

System

of deposittrust

companies

banks banks

New Hampshire..................................... 113 58 55 78 58 52 1 5 20 35 35 51.3 74.4

110 57 53 76 57 51 1 5 19 34 34 51.8 75.0

107 56 51 7h 56 50 1 5 18 33 33 52.3 75.7

Banks operating branches................ 3 1 2 2 1 1 1 1 1 33.3 50.0

Branches................................................. 3 1 2 2 1 1 1 1 1 33.3 50.0

New Jersey............................................... 513 509 4 483 479 262 155 62 1 3 30 30 99.2 99.2 100.0

All banks................................................. 355 351 4 332 328 208 73 47 1 3 23 23 98.9 98.8 100.0

Unit banks.......................................... 29U

61

290 U 275 271 183 U9

2U

39 1 3 19 19 98.6 98.5 100.0

Banks operating branches................ 61 57 57 25 8 u U 100.0 100.0 100.0

Branches................................................. 158 158 151 151 54 82 15 7 7 100.0 100.0 100.0

New Mexico.............................................. 63 63 63 63 28 9 26 100.0 100.0

All banks................................................. 51 51 51 51 26 9 16 100.0 100.0

Unit banks.......................................... U2 U2 U2 U2 2U 9 9 100.0 100.0

Banks operating branches................ 9 9 9 9 2 7 100.0 100.0

Branches................................................. 12 12 12 12 2 10 100.0 100.0

New Y ork.................................................. 1,620

770

1,610

763

10 1,399

640

1,389

633

591 667 131 10 221 221 99.4 99.3 100.0

All banks................................................. 7 382 176 75 7 130 130 99.1 98.9 100.0

Unit banks.......................................... 602 597 5 526 521 336 127 58 5 76 76 99.2 99.0 100.0

Banks operating branches................ 168 166 2 HI* 112 U6 U9 17 2 5b

91

5k

91

98.8 98.2 100.0

Branches................................................. 850 847 3 759 756 209 491 56 3 99.6 99.6 100.0

North Carolina....................................... 422 418 4 422 418 66 27 325 4 99.1 99.1

All banks................................................. 228 226 2 228 226 46 8 172 2 99.1 99.1

Unit banks.......................................... 170 169 1 170 169 38 £ 127 1 994

98.3

99.U

Banks operating branches................ 58 57 1 58 57 8 u k5 98.3

153

1

Branches................................................. 194 192 2 194 192 20 19 2 99.0 99.0

North Dakota.......................................... 172 167 5 172 167 41 2 124 5 97.1 97.1

All banks................................................. 150 145 5 150 145 41 2 102 5 96.7 96.7

Unit banks.......................................... 185 130 5 135 180 hi 2 87 5 96.3 96.3

Banks operating branches................ 15 15 15 15 15 100.0 100.0

Branches................................................. 22 22 22 22 22 100.0 100.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
O hio...........................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Oklahoma................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Oregon.......................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Pennsylvania..........................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Rhode Island..........................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

South Carolina.....................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

South Dakota........................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

Tennessee................................

All banks................................

Unit banka.........................

Banka operating branches

Branches................................

Texas..........................................

All banks................................

Unit banks.........................

Banks operating branches

Branches................................

867 12 876 864 301

652 12 661 649 241

602 12 611 599 227

50 50 50 14

215 215 215 60

376 11 387 376 200

375 11 386 375 199

37 U 11 385 374 198

1 1 1 1 1 1 1 1

1652 166 164 106

69

2 70 68 20

57 2 58 56 17

12 12 12

3

96 96 96 86

1,161 22 1,159 1,137 745

967 18 978 960 633

902 15 911> 899 599

65

3 64 61 34

194 4 181 177 112

52 36 73 52 19

13 15 19 13 8

6 8 7

6

5

7 7 12 7

3

39 21 54 39 11

175 17 192 175 53

134 17 151 134 25

120 17 137 120 21

14 14 14

4

41 41 41 28

217 217 217 55

169 169 169 35

143 143 143 31

26 26 26

4

48 48 48 20

3758 383 375 118

288 8 296 288 72

258 8 266 258 61

30 30 30 11

87 87 87 46

855 53 908 855 445

850 53 903 850 440

8 US 53 896 843 433 7 7 7 7 5 5 5 5

879

664

614

50

215

387

386

88511

167

71

59

12

96

1,183

985

917

68

198

88

28

14

14

60

192

151

137

14

41

217

169

143

26

48

383

296

266

30

87

908

903

89675

311

183

165

18

128

25

25

25

109811

150

109

97

12

41

232

21

108

27

27

27

22

1091

12

131

131

131

252

225

207

18

27

151

151

151

48

39

3189

242

218

203

15

24

1031

112

101

938

11

135

107

85

22

28

235

206

188

18

29

279

279

279

12

12

20

16

1334

205

’ ' 5

15

17

17

17

53

53

53

24734

17

159726

247

17

1597

98.6

98.2

98.0

100.0

100.0

97.2

97.2

97.1

100.0

100.0

98.8

97.2

96.6

100.0

100.0

98.1

98.2

98.U

95.6

98.0

59.1

46.4

42.9

50.0

65.0

91.1

88.7

87.6

100.0

100.0

100.0

100.0

100.0

100.0

100.0

97.9

97.3

97.0

100.0

100.0

94.2

94.1

94.1

100.0

100.0

98.6

98.2

98.0

100.0

100.0

97.2

97.2

97.1

100.0

100.0

98.8

97.1

96.6

100.0

100.0

98.1

98.2

98 4

95.3

97.8

71.2

68.4

85.7

58.3

72.2

91.1

88.7

87.6

100.0

100.0

100.0

100.0

100.0 100.0

100.0

97.9

97.3

97.0

100.0

100.0

94.2

94.1

94.1

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

CO

CONUMBER, OFFICES, AND DEPOSITS OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 0 2 . N u m b e r o f O p e r a t in g B a n k s a n d B r a n c h e s , D e c e m b e r 31, 1949— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE AND TYPE OF O FFICE

CO

All banks Commercial and stock savings banks

and nondeposit trust companies Mutual savings banks Insured banks

as percentages of—

Insured1 Noninsured

State and type of bank or office

Total Insured Noninsured Total

Total

Members F. R.

System Not

mem­ Banks

Nondeposit Total Insured2

Noninsured

All

banks

Commercial

Mutual

savings

National State

bers

F. R.

System

of deposittrust

companies

banks banks

Utah .......................................................... 78 78 78 78 27 25 26 100.0 100.0

55 55 55 55 11 20 24 100.0 100.0

U9

6

U9

6

£9 U9

6

9 18 22 100.0 100.0

Banks operating branches ........... 6 2 2 2 100.0 100.0

Branches................................................. 23 23 23 23 16 5 2 100.0 100.0

Verm ont.................................................... 97 96 1 81 80 41 1 38 1 16 16 99.0 98.8 100.0

All banks................................................. 77 76 1 70 69 39 1 29 1 7 7 98.7 98.6 100.0

Unit banks........................................ 68 67 1 62 61 87 1 23 1 6 6 98.5 98.U

100.0

100.0

Banks operating branches ........... 9 9 8 8 6 1 1 100.0 100.0

Branches................................................. 20 20 11 11 2 9 9 9 100.0 100.0 100.0

Virginia...................................................... 421 421 421 421 174 90 157 100.0 100.0

All banks................................................. 312 312 312 312 132 72 108 100.0 100.0

Unit banks.......................................... 261 261 261 261 m

18

62 85 100.0 100.0

Banks operating branches................ 51 51 51 51 10 23 100.0 100.0

Branches................................................. 109 109 109 109 42 18 49 100.0 100.0

W ashington............................................. 261 258 3 255 252 159 20 73 3 6 6 98.9 98.8 100.0

All banks................................................. 125 122 3 122 119 37 16 66 3 3 3 97.6 97.5 100.0

Unit banks.......................................... 112 109 8 110 107 29 15 63 3 2 2 97.3 97.3 100.0

Banks operating branches................ 13 18 12 12 8 1 3 1 1 100.0 100.0 100.0

Branches................................................. 136 136 133 133 122 4 7 3 3 100.0 100.0 100.0

West Virginia.......................................... 180 176 4 180 176 74 34 68 4 97.8 97.8

All banks................................................. 180 176 4 180 176 74 34 68 4 97.8 97.8

Unit banks.......................................... 180 176 U 180 176 U 8U 68 U 97.8 97.8

Banks operating branches................

Branches.................................................

W isconsin................................................. 707 696 11 703 693 110 75 508 7 3 4 3 1 98.4 98.6 75.0

All banks................................................ 556 546 10 552 543 95 69 379 6 3 4 3 1 98.2 98.4 75.0

Unit banks.......................................... U65

91

U56

90

9 U61

91

U53

90

91 65 297 5 3 u 3 1 98.1 98.3 75.0

Banks operating branches................ 1 JL U 82 1 98.9 98.9

Branches................................................. 151 150 1 151 150 15 6 129 1 99.3 99.3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

W yom ing..................................

Possessions

Alaska3.........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches...................................

American Sam oa....................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

G u am ...........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Hawaii4........................................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Panama Canal Zon e.............

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

Puerto R ico...............................

All banks..................................

Unit banka...........................

Banks operating branches.

Branches..................................

Virgin Islands5........................

All banks..................................

Unit banks...........................

Banks operating branches.

Branches..................................

53

53

53

53 54

8 9

6 7

2 2

45 45

4 4

4 4

U u .

53

53

53

24

24

n

15

15

15

14

14

U

100.0

100.0

100.0

100.0

100.0

100.0

8

5

3

2

3

8

5

5

2

3

14

14

U

36.4

26.3

17.6

100.0

100.0

36.4

26.3

17.6

100.0

100.0

1

1

1

1

1

1

1

1

1

1

1

1

48

3

1

2

45

4

4

U

5

5

5

1.9

11.1

11>.8

1.9

11.1

llt.3

50

13

7

6

37

1

1

1

2

1

2

1

66.7

50.0

66.7

50.0

1

1

1

1

100.0

100.0

100.0

100.0

1 Includes 6 trust companies not engaged in deposit banking: 2 State banks members of the Federal Reserve System, 1 each in California and Massachusetts; and 4 State

banks not members of the Federal Reserve System, 1 each in Florida, Missouri, Pennsylvania and Wisconsin.

2 Includes 3 banks members of the Federal Reserve System: 1 in Indiana and 2 in Wisconsin.

* Includes 4 national banks, 3 among insured banks not members of the Federal Reserve System, and 1 among noninsured banks.

4 Includes, among noninsured banks, 1 national bank operating 20 branches.

6 Includes, among insured banks not members of the Federal Reserve System, 1 national bank operating 1 branch.

Back figures: See Annual Report for 1948, pp. 74-81, and earlier reports.

CO

Oi NUMBER, OFFICES, AND DEPOSITS OF OPERATING B AN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 1 0 3 , N u m b e r a n d D e p o s it s o f O p e r a t in g B a n k s , D e c e m b e r 31, 1949

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND B Y DISTRICT AND STATE

Number of banks Deposits (in thousands of dollars)

Commercial and stock savings

banks and nondeposit

trust companies

Mutual savings banks

Commercial and stock savings

banks and nondeposit

trust companies

Mutual savings banks

FDIC District

and State All

banks1

Noninsured

All

banks

Total Insured2 Banks

Nondeposit

trust

companies

Total Insured

Noninsured Total Insured Noninsured Total Insured Noninsured

posit1

United States and

possessions.. . 14,736 14,205 13,436 704 65 531 192 339 165,244,044 145,950,656 143,194,309 2,756,347 19,293,388 13,591,547 5,701,841

United States... 14,687 14,156 13,429 667 60 531 192 339 164,467,186 145,173,798 143,137,715 2,036,083 19,293,388 13,591,547 5,701,841

Possessions......... 49 49 7 37 5 776,858 776,858 56,594 720,264

FDIC District

District 1.............. 874 530 463 64 3 344 16 328

2

12,748,456

47,831,111

18,594,248

8,213,656

5,334,936

8,501,880

11,328,666

14,672,788

4,629,640

5,911,867

9,182,897

18,293,899

1,201,737

416,062

799,607

13,236,728

1,125,774

2,827,204

561,832

1,037,781

1,744,193

1,624,290

7,316,165

36,091,778

17,295,304

7,815,468

5,334,936

8,501,880

11,273,392

14,672,788

4,471,278

5,911,867

9,182,897

18,082,903

1,201,737

416,062

799,607

13,236,728

1,125,774

1,504,560

474,324

1,037,781

1,744,193

1,624,290

6,938,222

35,319,372

17,218,482

7,680,866

5,303,149

8,447,021

11,098,772

14,537,827

4,348,159

5,703,938

9,063,550

17,534,951

1,201,689

414,459

796,107

13,186,066

1,119,226

1,432,597

472,119

1,037,781

1,736,823

1,608,112

377,943

772,406

76,822

134,602

31,787

54,859

174,620

134,961

123,119

207,929

119,347

547,952

48

1,603

3,500

50,662

6,548

71,963

2,205

^ 9 9Q1 151,076

11,651,825

1,298,944

77,931

5,281,215 District 23 87,508 ........... 1,180

1,649

1,025

1,639

1,054

1,016

999 23

28

3 155

10

153

District 3 .............. 1,609 10

1,029

939

2

11, ( 0*9 jOOO

1,298,944 District 4 398,188 ..............

District 5..............

1,063

1,016

24

75

1

2

9 2 7 320,257

District 6 .............. 1,512 1,512 1,442 59 11

District 7.............. 1,494

1,554

1,486

1,554

1,438 36

72

12

4

g 6 2 55,274 42,413 12,861 District 8 .............. 1,478

District 9 .............. 1,113 1,112 1,085

1,390

1,071

25 2 1 1 158,362 158,362 District 10............ 1,613 1,613 214 9

District 11............ 1,126 1,126 54 1

District 124........... 542 538 493 30 15 4 4 210,996 210,996

State

Alabama............... 225 225 224 1

Arizona................. 10 10 9 1

Arkansas............... 232 232 221 10 1

California............. 206 206 195 2 9

Colorado............... 149 149 140 9

Connecticut.........

Delaware...............

189

40

117

38

95

37

21

1

1 72

2

3 69

2

1,322,644

87,508

39,259 1,283,385

87,508

Dist. of Columbia 19 19 19

Florida................... 193 193 189 2 2 7,370 Georgia................. 396 396 328 68 16,178

136 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Idaho...................

Illinois.................

Indiana...............

Iowa.....................

Kansas.................

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

Possession

Alaska.................

American Samoa

Guam...................

Hawaii.................

Panama Canal

Zone.................

Puerto Rico. . . .

Virgin Islands...

43

890

492

664

610

386

162

96

173

374

446

683

202

598

111

415

8

110

355

51

770

228

150

664

386

71

985

28

151

169

296

903

55

77

312

125

180

556

53

43

890

488

664

610

386

162

64

164

184

446

682

202

598

111

415

8

76

332

51

640

228

150

661

386

70

978

19

151

169

296

903

55

70

312

122

180

552

53

42

874

477

604

461

362

161

54

162

175

418

660

198

571

111

361

8

57

328

51

633

226

145

649

375

68

960

13

134

169

288

850

55

69

312

119

176

543

53

1

13

9

59

149

21

1

10

1

47

32

9

190

130

23

130

26

7

190

428,789

12,438,079

3,107,894

2,234,709

1,611,633

1,547,119

1,732,337

674,831

1,976,798

7,374,137

5,251,480

2,971,580

764,716

4,209,000

585,914

1,265,055

165,830

533,390

5,087,857

324,189

41,919,980

1,781,644

575,498

7,491,816

1,653,321

1,291,353

11,102,432

1,010,756

654,164

496.648

1,946,154

6,710,309

563.649

328,138

1,859,958

2,092,134

903,311

2,969,292

256,084

76,185

1,292

19,488

391,410

27,041

257,384

4,058

428,789 419,756 9,033

12,438,079 12,395,721 42,358

3,064,997

2,234,709

1,611,633

3,046,035

2,142,106

18,962

92,603

42,897 30,396 12,501

1,454,882 156,751

1,547,119

1,732,337

438,894

1,578,610

4,124,928

1,523,163

1,731,514

398,653

1,501,905

4,027,921

23,956

823

40,241

76,705

97,007

'235,937

398,188

3,249,209

27,183

77,931

208,754

320,257

3,249,209

5,251,480 5,107,191 144,289

2,813,218 2,795,339 17,879 158,362 158,362

764,716 756,525 8,191

4,209,000 4,187,488 21,512

585,914 585,914

1,265,055 1,226,481 38,574

165,830 165,830

257,819 204,669 53,150 275,571 275,571 4,541,971

324,189

4,536,680 5,291 545,886 545,886

324,189

30,814,041 30,306,515 507,526 11,105,939 11,105,939

1,781,644 1,744,691

470,258

36,953

575,498 105,240

7,254,945 7,241,641 13,304 236,871 236,871 1,653,321 1,647,265 6,056

1,275,848

10,040,359

1,267,945 7,903 15,505 15,505

9,976,841 63,518 1,062,073 1,062,073

746,460 630,878 115,582 264,296 264,296 654,164 644,528 9,636

496,648 496,648

1,946,154 1,940,263 5,891

6,710,309 6,593,388 116,921

563,649 563,649

243,504 243,504 84,634 84,634

1,859,958 1,859,958

1,896,643 1,879,169 17,474 195,491 195,491 903,311

2,956,915

256,084

892,003 11,308

2,945,546

256,084

11,369 12,377 12,017 360

76,185

1,292

19,488

39,931 36,254 1 9Q 9

19,488

391,410 12,605 378,805

27,041

257,384

4,058 ...........4,058

27,041

257,384

i Includes 31 noninsured banks of deposit (20 in Georgia, 3 in Iowa, 3 in Michigan 4 in Texas and 1 in Virmr, a— I-------TTT------------- S j

' Includes Puerto 1 eaCh ta Ca'“ ’ Massachusetts, avlutobto-

* Includes Alaska, American Samoa, Guam, Hawaii, and the Panama Canal Zone.

Back figures: See the Annual Report for 1948, pp. 82-83, and earlier reports.

OFFICES, AND DEPOSITS OF OPERATING B,

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 104.

Table 105.

Table 106.

Table 107.

Assets and liabilities of operating banks in the United States and possessions, 

June 30, 1949

Banks grouped according to insurance status and type of bank

Assets and liabilities of operating banks in the United States and possessions, 

December 31, 1949

Banks grouped according to insurance status and type of bank

Assets and liabilities of all operating banks in the United States and possessions, 

December 31, 1949 

Banks grouped by district and State

Assets and liabilities of operating insured banks, December 31, 1949, June 30, 

1949, and December 31, 1948

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

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
The data in these tables relate to banks operating in the United 

States and possessions. Data from the same tabulations for all operating 

banks in each State are published in the Federal Reserve Bulletin

as follows:

For June 30, 1949 November 1949 issue, pp. 1362-63;

For December 31, 1949 June 1950 issue, pp. 700-01.

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” .

Since June 30, 1942, demand balances with and demand deposits 

due to banks in the United States, except private banks and American 

branches of foreign banks, exclude reciprocal interbank deposits. 

Reciprocal interbank deposits arise when two banks maintain deposit 

accounts with each other.

Beginning with June 30, 1948, individual loan items have been 

reported gross instead of net of valuation reserves. Accordingly, reserves for losses on loans under the provisions of Mimeograph 6209 

issued by the Bureau of Internal Revenue in December 1947 and other 

loan valuation reserves have been shown separately.

Instalment loans are ordinarily reported net if the instalment payments are applied directly to the reduction of the loan. Such loans are 

reported gross if, under contract, the payments do not immediately 

reduce the unpaid balances of the loan but are assigned or pledged to 

assure repayment at maturity.

Total deposits shown in these tables are not the same as the deposits 

upon which assessments paid to the Federal Deposit Insurance Corporation are based. The assessment base is slightly lower due to certain 

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; and Polk’s Bankers Encyclopedia.

ASSETS AND LIABILITIES OF OPERATING BAN K S

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http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars)

T a b le 1 0 4 . A s s e t s a n d L i a b i l i t i e s o f O p e r a t in g B a n k s in t h e U n it e d S t a t e s a n d P o s s e s s io n s , J u n e 30, 1949

Asset, liability, or capital account item

All banks

Commercial and stock savings banks and

nondeposit trust companies Mutual savings banks

Total Insured Noninsured Total Insured1

Noninsured

Total Insured

NonBanks insured

of

deposit

Nondeposit

trust

companies2

Total assets................................................................... 171,670,655 161,887,992 9,782,663 150,565,657 147,216,367 3,161,043 188,247 21,104,998 14,671,625 6,433,373

Cash, balances with other banks, and cash

collection items— total................................ 35,120,645 34,360,974 759,671 34,320,820 33,731,946 540,241 48,633 799,825 629,028 170,797

Currency and coin................................................. 2,226,836 2,108,917 117,919 2,130,069 2,038,588 90,316 1,165 96,767 70,329 26,438

Reserve with Federal Reserve banks (member

17,807,784 17,807,784 17,806,625 17,806,625 1,159 1,159

Demand balances with banks in U. S.............. 8,643,019 8,066,529 576,490 8,192,484 7,748,380 397,536 46,568 450,535 318,149 132,386

Other balances with banks in U. S................... 275,148 263,323 11,825 43,096 37,400 5,602 94 232,052 225,923 6,129

Balances with banks in foreign countries. . . . 26,495 18,359 8,136 26,495 18,359 8,136

Cash items in process of collection................... 6,141,363 6,096,062 45,301 6,122,051 6,082,594 38,651 ...........806 19,312 13,468 .........5,844

Securities— total..................................................... 87,173,088 80,726,682 6,446,406 73,129,093 71,243,147 1,789,528 96,418 14,043,995 9,483,535 4,560,460

U. S. Government obligations, direct and

guaranteed.......................................................... 75,198,579 69,927,921 5,270,658 63,541,276 61,988,221 1,491,332 61,723 11,657,303 7,939,700 3,717,603

Obligations of States and subdivisions............ 6,027,407 5,829,029 198,378 5,950,613 5,765,550 171,826 13,237 76,794 63,479 13,315

Other bonds, notes, and debentures3............... 5,430,587 4,650,024 780,563 3,276,311 3,181,481 88,179 6,651 2,154,276 1,468,543 685,733

Corporate stocks.................................................... 516,515 319,708 196,807 360,893 307,895 38,191 14,807 155,622 11,813 143,809

Loans and discounts, net— total..................... 47,366,715 44,932,105 2,434,610 41,316,414 40,535,377 756,649 24,388 6,050,301 4,396,728 1,653,573

Valuation reserves4.................................................... 685,172 666,127 19,045 455,760 453,930 1,795 35 229,412 212,197 17,215

Loans and discounts, gross— total................. 48,051,887 45,598,232 2,453,655 41,772,174 40,989,307 758,444 24,423 6,279,713 4,608,925 1,670,788

Commercial and industrial loans....................... 16,582,800 16,316,842 265,958 16,545,869 16,295,925 247,231 2,713 36,931 20,917 16,014

Loans to farmers directly guaranteed by the

Commodity Credit Corporation 549,066 532,666 16,400 549,066 532,666 16,400

Other loans to farmers (excluding loans on

real estate).......................................................... 2,291,704 2,201,888 89,816 2,290,638 2,201,037 89,441 160 1,066 851 215

Loans to brokers &nd dcfllcrs in securities. . . . 1,984,158 1,971,913 12,245 1,984,158 1,971,913 12,245

Other loans for carrying securities.................... 950,041 901,473 48,568 948,006 900,863 41,961 5,182 2,035 610 1,425

Real estate loans:

On farm land...................................................... 939,690 906,418 33,272 900,816 878,476 21,520 820 38,874 27,942 10,932

On residential properties................................. 13,327,343 11,784,130 1,543,213 8,218,961 8,059,651 148,161 11,149 5,108,382 3,724,479 1,383,903

On other properties........................................... 3,026,538 2,755,320 271,218 2,000,142 1,954,647 43,608 1,887 1,026,396 800,673 225,723

Other loans to individuals.................................. 7,333,021 7,202,421 130,600 7,272,850 7,172,380 98,940 1,530 60,171 30,041 30,130

Loans to banks....................................................... 99,270 99,151 119 99,270 99,151 119

All other loans (including overdrafts)............. 968,256 926,010 42,246 962,398 922,598 38,818 ...........982 ........ 5,858' ........ 3,412 ........ 2,446

Miscellaneous assets— tota l.............................. 2,010,207 1,868,231 141,976 1,799,330 1,705,897 74,625 18,808 210,877 162,334 48,543

Bank premises owned, furniture and fixtures. 1,155,664 1,106,793 48,871 1,053,322 1,028,038 20,038 5,246 102,342 78,755 23,587

Other real estate— direct and indirect............. 118,677 100,655 18,022 104,350 89,858 5,818 8,674 14,327 10,797 3,530

All other miscellaneous assets............................ 735,866 660,783 75,083 641,658 588,001 48,769 4,888 94,208 72,782 21,426

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Total liabilities and capital accounts...............

Deposits of individuals, partnerships, and

corporations— tota l......................................

Demand....................................................................

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 political subdivisions— demand. . .

States and political 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...............

Ranlrc in fnroicrn pmlnfriti tyip

171,670,655 161,887,992 9,782,663 150,565,657 147,216,367 3,161,043 188,247 21,104,998 14,671,625 6,433,373

132,615,060

78,399,409

54,215,651

124,832,315

77,029,872

47,802,443

7,782,745

1,369,537

6,413,208

113,674,703

78,388,633

35,286,070

111,598,463

77,020,805

34,577,658

2,007,465

1,299,112

708,353

68,775

68,716

59

18,940,357

10,776

18,929,581

13,233,852

9,067

13,224,785

5,706,505

1,709

5,704,796

2,387,821 2,355,090 32,731 2,384,094 2,352,568 31,526 3,727 2,522 1,205

11,278,272

2,207,144

159,310

7,555,585

1,356,233

10,884,421

2,140,382

157,309

7,342,126

1,244,604

393,851

66,762

2,001

213,459

111,629

11,273,575

2,205,304

159,261

7,554,923

1,354,087

10,880,931

2,139,211

157,260

7,341,464

1,242,996

392,542

66,090

2,001

213,360

111,091

102

3

99

4,697

1,840

49

662

2,146

3,490

1,171

49

662

1,608

1,207

669

538

10,958,071

9,214,527

212,876

1,406,354

117,734

6,580

10,585,077

9,058,249

29,349

1,373,799

117,734

5,946

372,994

156,278

183,527

32,555

10,957,374

9,214,482

212,224

1,406,354

117,734

6,580

10,584,390

9,058,204

28,707

1,373,799

117,734

5,946

372,984

156,278

183,517

32,555

697

45

652

687

45

642

10

10

Pnofol oqvinore 634 634

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

Surplus.....................................................................

Undivided profits and reserves..........................

157,239,224

101,170,81*0

56,068,38)+

148,656,903

99,299,518

1*9,357,385

8.582.321

1.871.322

6,710,999

138,289,746

101,153,790

37,135,956

135,416,352

99,286,051

36,130,301

2,804,517

1,798,921

1,005,596

68,877

68,818

59

18,949,478

17,050

18,932,4-28

13,240,551

13,1*67

13,227,081*

5,708,927

3,583

5,705,31*1*

1,509,728

35,306

1,474,422

1,395,746

27,756

1,367,990

113,982

7,550

106,432

1,418,763

33,945

1,384,818

1,345,851

26,605

1,319,246

49,976

6,420

43,556

22,936

920

22,016

90,965

1,361

89,604

49,895

1,151

48,744

41,070

210

40,860

158,748,952 150,052,649 8,696,303 139,708,509 136,762,203 2,854,493 91,813 19,040,443 13,290,446 5,749,997

12,921,703

124,018

3,402,141

6,098,060

3,297,484

11,835,343

102,060

3,270,925

5,579,755

2,882,603

1,086,360

21,958

131,216

518,305

414,881

10,857,148

119,162

3,402,141

4,697,567

2,638,278

10,454,164

97,204

3,270,925

4,552,144

2,533,891

306,550

21,808

93,702

113,283

77,757

96,434

150

37,514

32,140

26,630

2,064,555

4,856

' i ,400,493

659,206

1,381,179

4,856

i ,027,611

348,712

683,376

372,882

310,494

Number of banks5.......................................................... 14,729 13,614 1,115 14,199 13,423 709 67 530 191 339

1 Includes 6 trust companies not engaged in deposit banking having total capital accounts of $15,797,000 and total assets of $16,806,000.

2 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

3 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.

4 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.

5 Includes 32 noninsured banks of deposit for which asset and liability data are not available.

Back figures: See the Annual Report for 1948, pp. 86-91, and earlier reports. ^

ASSETS AND LIABILITIES OF OPERATING BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars)

T a b le 1 0 5 . A s s e t s a n d L i a b i l i t i e s o f O p e r a t in g B a n k s in t h e U n it e d S t a t e s a n d P o s s e s s io n s , D e c e m b e r 31, 1949

All banks Commercial and stock savings banks and

nondeposit trust companies Mutual savings banks

Noninsured

Asset, liability, or capital account item

Total Insured Noninsured Total Insured1 Banks

of

deposit

Nondeposit

trust

companies2

Total Insured Noninsured

Total assets................................................................... 180,043,113 170,378,776 9,664,337 158,550,215 155,318,889 3,036,838 194,488 21,492,898 15,059,887 6,433,011

Gash, balances with other banks, and cash

36,675,794 35,904,132 771,662 35,803,188 35,222,106 522,792 58,290 872,606 682,026 190,580

2,185,256 2,067,673 117,583 2,075,685 1,987,821 86,592 1,272 109,571 79,852 29,719

Reserve with Federal Reserve banks (member

Visirtlrc^ 16,428,505

10,398,058

16,428,505

9,806,738

16,427,544

9,882,635

16,427,544 961 961

Demand balances with banks in U. S ............. 591,320 9,438,657 387,371 56,607 515,423 368,081 147,342

Other balances with banks in U. S................... 265,383 254,070 11,313 43,045 37,906 5,100 39 222,338 216,164 6,174

Balances with banks in foreign countries. . . .

Cash items in process of collection...................

50,750

7,347,842

41,713

7,305,433

9,037

42,409

50,750

7,323,529

41,713

7,288,465

9,037

34,692 ...........372 24,313 16,968 .........7,345

Securities— total..................................................... 91,436,224 85,218,549 6,217,675 77,613,988 75,824,222 1,697,779 91,987 13,822,236 9,394,327 4,427,909

U. S. Government obligations, direct and

guaranteed.......................................................... 78,753,673 73,679,157 5,074,516 67,325,586 65,847,210 1,420,155 58,221 11,428,087 7,831,947 3,596,140

Obligations of States and subdivisions............

Other bonds, notes, and debentures®...............

Corporate stocks....................................................

6,657,230

5,505,232

520,089

6,478,189

4,738,594

322,609

179,041

766,638

197,480

6,570,991

3,354,362

363,049

6,402,782

3,261,461

312,769

154,719

86,636

36,269

13,490

6,265

14,011

86,239

2,150,870

157,040

75,407

1,477,133

9,840

10,832

673,737

147,200

Loans and discounts, net— tota l..................... 49,828,162

787,270

47,312,970 2,515,192 43,250,106 42,498,666 725,019 26,421 6,578,056 4,814,304 1,763,752

Valuation reserves4.................................................... 766,442 20,828 550,330 548,034 2,232 64 236,940 218,408 18,532

Loans and discounts, gross— total................. 50,615,432

17,195,434

48,079,412 2,536,020 43,800,436 43,046,700 727,251 26,485 6,814,996 5,032,712 1,782,284

Commercial and industrial loans....................... 16,959,727 235,707 17,160,601 16,939,200 219,732 1,669 34,833 20,527 14,306

Loans to farmers directly guaranteed by the

Commodity Credit Corporation....................

Other loans to farmers (excluding loans on

real estate)............................ ; ..........................

975,832

1,988,281

1,748,606

855,388

27,690

83,033

14,551

39,853

1,003,522

2,070,126

1,763,157

893,274

975,832

1,987,280

1,748,606

854,781

27,690

82,745

14,551

X j \ ) \ j O y O U U

2,071,314

1 7fi^ 1 *>7

101 1,188 1,001 187

Loans to brokers and dealers in securities....

Other loans for carrying securities....................

1 , 1X j O f l O 9

895,241 33,071 5,422 1,967 607 1,360

Real estate loans:

On farm land ................................................... 945,643 914,354 31,289 908,203 885,617 20,958 1,628 37,440 28,737 8,703

On residential properties................................. 14,244,776 12,576,193 1,668,583 8,675,934 8,513,089 149,636 13,209 5,568,842 4,063,104 1,505,738

On other properties........................................... 3,159,209 2,895,101 264,108 2,060,246 2,014,215 43,712 2,319 1,098,963 880,886 218,077

Other loans to individuals................................... 8,158,907

98,112

8,039,973 118,934 8,095,066 8,007,054 87,342 670 63,841 32,919 30,922

97,913

1,028,044

199 98,112

1,072,195

97,913

1,023,113

199

All other loans (including overdrafts)............. 1,080,117 52,073 47,615 1,467 7,922 4,931 2,991

Miscellaneous assets— tota l.............................. 2,102,933 1,943,125 159,808 1,882,933 1,773,895 91,248 17,790 220,000 169,230 50,770

Bank premises owned, furniture and fixtures.

Other real estate— direct and indirect.............

1,172,910

118,421

1,124,749

100,349

48,161

18,072

1,070,288

107,462

1,046,151

93,224

18,964

5,935

5,173

8,303

102,622

10,959

78,598

7,125

24,024

3,834

All other miscellaneous assets............................ 811,602 718,027 93,575 705,183 634,520 66,349 4,314 106,419 83,507 22,912

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T o ta l liabilities an d cap ital acc o u n ts ...........

D eposits of in dividuals, partnerships, and

corporations— t o t a l.............................

Demand....................................................................

Time.........................................................................

Certified and officers* checks, cash letters

of credit an d travelers’ checks o u tstanding, an d a m o u n ts due to Federal

Reserve b a n k s.....................................

G overnm ent deposits— to ta l......................

United States Government— demand..............

United States Government— time....................

States and political subdivisions— demand...

States and political subdivisions— time...........

In te rb an k an d postal savings deposits—

t o ta l....................................................

Banks in the United States— demand.............

Banks in the United States— time...................

Banks in foreign countries— demand...............

Banks in foreign countries— time.....................

180,043,113 170,378,776 9,664,337 158,550,215 155,318,889 3,036,838 194,488 21,492,898 15,059,887 6,433,011

137,869,889

83,454,342

54,415,547

130,172,268

82,138,607

48,033,661

7,697,621

1,315,735

6,381,886

118,588,734

83,442,589

35,146,145

116,590,911

82,128,729

34,462,182

1,922,700

1,239,787

682,913

75,123

74,073

1,050

19,281,155

11,753

19,269,402

13,581,357

9,878

13,571,479

5,699,798

1,875

5,697,923

2,370,756 2,341,659 29,097 2,366,726 2,338,307 28,379 40 4,030 3,352 678

12,274,619

3,137,518

180,492

7,613,401

1,343,208

11,896,122

3,056,587

178,121

7,425,023

1,236,391

378,497

80,931

2,371

188,378

106,817

12,266,803

3,134,751

180,234

7,612,175

1,339,643

11,889,661

3,054,607

177,863

7,423,797

1,233,394

377,101

80,141

2,371

188,340

106,249

41

3

38

7,816

2,767

258

1,226

3,565

6,461

1,980

258

1,226

2,997

1,355

787

568

12,728,780

11,053,514

182,218

1,346,294

139,398

7,356

12,375,807

10,884,885

29,539

1,315,270

139,398

6,715

352,973

168,629

152,679

31,024

12,728,393

11,053,479

181,866

1,346,294

139,398

7,356

12,375,430

10,884,850

29,197

1,315,270

139,398

6,715

352,963

168,629

152,669

31,024

387

35

352

377

35

342

10

10

Postal savings......................................................... 641 641

T o ta l d e p osits .....................................

Demand............................................................

Time.................................................................

M iscellaneous liabilities— to ta l.................

Rediscounts and other borrowed money.........

All other miscellaneous liabilities......................

T o ta l liab ilities (excluding capital

accou n ts).........................................

C a p ital accounts— to ta l.............................

Preferred capital....................................................

Common stock........................................................

Surplus.....................................................................

Undivided profits and reserves...................

165,244,044

108,975,825

56,268,219

156,785,856

107,162,031

U9,623,825

8,458,188

1,813,79 k

6,6kk,39k

145,950,656

108,956,01k

36,99k,6k2

143,194,309

107,1 k5,560

36,0k8,7k9

2,681,143

1,736,300

9kk,8k3

75,204

7k,15k

1,050

19,293,388

19,811

19,273,577

13,591,547

16,k71

13,575,076

5,701,841

3, SkO

5,698,501

1,633,479

27,195

1,606,284

1,524,711

14,154

1,510,557

108,768

13,041

95,727

1,555,850

27,168

1,528,682

1,475,881

14,154

1,461,727

56,464

11,013

45,451

23,505

2,001

21,504

77,629

27

77,602

48.830

48.830

28,799

27

28,772

166,877,523 158,310,567 8,566,956 147,506,506 144,670,190 2,737,607 98,709 19,371,017 13,640,377 5,730,640

13,165,590

117,848

3,430,883

6,385,199

3,231,660

12,068,209

96,093

3,304,729

5,863,498

2,803,889

1,097,381

21,755

126,154

521,701

427,771

11,043,709

112,515

3,430,883

4,948,001

2,552,310

10,648,699

90,760

3,304,729

4,803,154

2,450,056

299,231

21,605

89,290

112,597

75,739

95,779

150

36,864

32,250

26,515

2,121,881

5,333

i ,437,198

679,350

1,419,510

5,333

i ,060,344

353,833

702,371

376,854

325,517

Number of banks5.......................................................... 14,736 13,628 1,108 14,205 13,436 704 65 531 1 192 339

1 Includes 6 trust companies not engaged in deposit banking having total capital accounts of $15,932,000 and total assets of $17,076,000.

2 Amounts shown as deposits are special accounts and uninvested trust funds, with the Latter classified as demand deposits of individuals, partnerships, and corporations.

3 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.

4 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.

6 Includes 31 noninsured banks of deposit for which asset and liability data are not available.

Back figures: See the preceding table and the Annual Report for 1948, pp. 86-91, and earlier reports. ^

00ASSETS AND LIABILITIES OF OPERATING B AN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS GROUPED BY DISTRICT AND STATE

(Amounts in thousands of dollars)

T a b le 1 06. A s s e t s a n d L i a b i l i t i e s o f A l l O p e r a t in g B a n k s in t h e U n it e d S t a t e s a n d P o s s e s s io n s , D e c e m b e r 31, 1949

Assets Liabilities and capital accounts

District and State Number

Cash and

due from

banks

U. S. Government

obligations

Loans, discounts, and

overdrafts

Miscellaneous

assets

Total

Deposits

Miscellaneous

liabilities

Total

capital

accounts

of banks1 Other

securities Business

and

personal2

Government3Interbank4

United States and possessions .......................... 14,736 36,675,794 78,753,673 12,682,551 49,828,162 2,102,933 180,043,113 140,240,645 12,274,619 12,728,780 1,633,479 13,165,590

United States................... 14,687 36,522,414 78,432,942 12,621,225 49,543,521 2,049,995 179,170,097 139,666,676 12,084,003 12,716,507 1,614,502 13,088,409

Possessions........................ 49 153,380 320,731 61,326 284,641 52,938 873,016 573,969 190,616 12,273 18,977 77,181

FDIC District

District 1......................... 874 1,812,330 6,970,327 1,192,098 4,055,952 172,908 14,203,615 11,775,764 571,635 401,057 109,601 1,345,558

District 25........................ 1,180 9,857,298 23,674,811 3,499,716 15,471,992 755,899 53,259,716 41,105,247 2,058,305 4,667,559 829,286 4,599,319

District 3 ......................... 1,649 3,882,075 9,201,051 2,035,447 5,034,376 239,961 20,392,910 16,432,811 1,242,903 918,534 108,035 1,690,627

District 4 ......................... 1,063 2,032,019 3,851,944 508,900 2,405,214 114,263 8,912,340 6,865,697 753,220 594,739 61,358 637,326

District 5 ......................... 1,016 1,506,260 2,172,118 426,554 1,573,482

2,711,154

66,082 5,744,496 4,276,236 622,044 436,656 34,761 374,799

District 6 ......................... 1,512 2,375,210 3,390,738 567,176 76,054 9,120,332 6,550,758 728,834 1,222,288 41,602 576,850

District 7 ......................... 1,494 2,426,866 5,898,979 795,388 2,866,680 99,552 12,087,465 9,935,296 972,990 420,380 55,542 703,257

District 8 ......................... 1,554 3,611,126 7,456,298 1,113,080 3,411,354 108,808 15,700,666 12,029,591 1,215,154 1,428,043 84,352 943,526

District 9 ......................... 1,113 1,010,285 2,321,344 353,022 1,226,030 34,690 4,945,371 3,800,171 475,027 354,442 24,306 291,425

District 10....................... 1,613 1,672,896 2,533,179 405,063 1,667,479 37,629 6,316,246 4,705,998 723,544 482,325

1,160,288

20,182 384,197

District 11....................... 1,126 2,937,345 3,338,111 525,076 2,840,210 128,062 9,768,804 6,916,326 1,106,283 54,456 531,451

District 12®..................... 542 3,552,084 7,944,773 1,261,031 6,564,239 269,025 19,591,152 15,846,750 1,804,680 642,469 209,998 1,087,255

State

Alabama.............................. 225 327,387 471,093 113,681 370,233 14,558 1,296,952 982,608 148,175 70,954 8,110 87,105

Arizona................................ 10 76,836 158,434 32,677 167,336 7,930 443,213 355,853 56,224 3,985 4,235 22,916

Arkansas.............................. 232 257,878 334,960 66,144 191,849 5,099 855,930 657,313 81,294 61,000 2,046 54,277

California............................ 206 2,447,206 5,707,987 902,436 4,946,618 189,574 14,193,821 11,503,648 1,264,078 469,002 185,667 771,426

Colorado.............................. 149 306,634 540,856 47,405 300,377 6,939 1,202,211 968,913 75,240 81,621 4,698 71,739

Connecticut........................ 189 397,631 1,542,821 336,714 816,001 41,677 3,134,844 2,688,322 101.443 37.439 17,915 289,725

Delaware............................. 40 110,313 252,126 99,581 162,187 5,953 630,160 482,584 74^606 4^642 3,511 64,817

District of Columbia........ 19 275,880 491,093 43,665 285,398 19,623 1,115,659 957,521 23,991 56,269 7,117 70,761

Florida................................. 193 483,962 871,537 109,540 380,034 24,191 1,869,264 1,390,451 219,665 134,077 8,100 116,971

Georgia................................ 396 475,329 554,167 84,689 627,509 20,449 1,762,143 1,298,369 147,936 177,985 16,412 121,441

Idaho.................................... 43 84,212 200,523 11,672 152,703 3,426 452,536 357,931 65,084 5,774 1,860 21,887

Illinois.................................. 890 3,111,027 6,473,580 922,921 2,711,010 95,137 13,313,675 10,146,477 980,053 1,311,549 81,108 794,488

Indiana................................ 492 725,258 1,658,205 177,925 730,621 24,191 3,316,200 2,647,946 343,324 116,624 12,689 195,617

Iowa...................................... 664 500,099 982,718 190,159 700,344 13,671 2,386,991 1,883,114 235,101 116,494 3,244 149,038

Kansas.................................. 610 411,184 661,081 133,608 502,953 9,029 1,717,855 1,235,373 292,272 83,988 3,717 102,505

144 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky............................ 386 413,371 701,087 68,027 476,240 11,686 1,670,411 1,273,633 118,370 155,116 7,130 116,162

Louisiana............................. 162 506,900 752,812 147,145 409,716 25,944 1,842,517 1,235,982 277,267 219,088 16,487 93,693

Maine................................... 96 97,300 364,949 73,633 214,462 6,097

30,634

756,441 636,895 29,475 8,461 5,214 76,396

Maryland............................ 173 390,942 1,161,232

4,123,350

135,822 440,482 2,159,112 1,727,400 150,662 98,736 11,023 171,291

Massachusetts.................... 374 1,074,888 592,421 2,328,428 100,648 8,219,735 6,687,439 354,426 332,272 69,309 776,289

Michigan.............................. 446 1,089,464 2,683,483 391,872 1,386,802 48,616 5,600,237 4,617,690 456,628 177,162 35,099 313,658

Minnesota........................... 683 665,394

219,582

1,374,533 257,660 872,813 24,391 3,194,791 2,436,220 234,460 300,900 19,185 204,026

Mississippi.......................... 202 275,321 118,644

284,747

195,706 6,884 816,137 604,808 106,268 53,640 2,139 49,282

Missouri............................... 598 1,177,660 1,645,710 1,365,379 35,237 4,508,733 3,148,697 338,227 722,076 21,663 278,070

Montana.............................. 111 146,107 325,646 26,850 110,720 4,191 613,514 471,004 83,029 31,881 1,888 25,712

Nebraska............................. 415 333,386 586,290 84,239 335,791 8,511 1,348,217 1,037,293 87,750 140,012 3,182 79,980

Nevada................................ 8 30,280 83,516 8,952 51,966 2,188 176,902 141,730 22,951 1,149 1,164 9,908

New Hampshire................. 110 64,358 255,925 66,207 211,256 4,295 602,041 506,018 19,720 7,652 2,106 66,545

New Jersey.......................... 355 822,750 2,734,800 581,785 1,297,057 75,086 5,511,478 4,648,007 386,692 53,158 29,039 394,582

New Mexico........................ 51 100,704 122,833 10,856 104,508 2,912 341,813 251,706 60,840 11,643 705 16,919

New York............................ 770 8,880,777 20,588,463 2,778,988 13,900,561 650,444 46,799,233 35,815,626 1,502,108 4,602,246 778,910 4,100,343

North Carolina.................. 228 495,092 705,537 144,708 561,375 21,369 1,928,081 1,355,418 204,798 221,428 21,136 125,301

North Dakota.................... 150 93,761 364,071 39,209 110,456 2,786 610,283 458,639 105,499 11,360 1,817 32,968

Ohio...................................... 664 1,579,124 3,758,801 567,798 2,041,980 73,674

11,463

8,021,377 6,563,626 624,527 303,663 40,181 489,380

Oklahoma............................ 386 544,808 629,901 128,052 462,058 1,776,282 1,255,477 234,805 163,039 7,789 115,172

Oregon.................................. 71 275,116 600,509 106,583 379,815 20,545 1,382,568 1,126,303 130,818 34,232 7,590 83,625

Pennsylvania...................... 985 2,302,951 5,442,250 1,467,649 2,992,396 166,287 12,371,533 9,869,185 618,376 614,871 67,854 1,201,247

Rhode Island...................... 28 132,867 579,583 97,660 296,850 15,999 1,122,959 943,640 53,487 13,629 13,031 99,172

South Carolina................... 151 187,848 286,026 52,344 167,955 4,766 698,939 550,373 82,920 20,871 3,194 41,581

South Dakota..................... 169 105,023 257,094 29,303 132,041 3,322 526,783 434,308 52,039 10,301 1,416 28,719

Tennessee............................ 296 526,301 708,981 148,258

334,398

677,686 24,032 2,085,258 1,471,115 190,943 284,096 10,763 128,341

Texas.................................... 903 2,252,905 2,304,032 2,158,650 91,276 7,141,261 5,072,785 711,952 925,572 33,029 397,923

Utah...................................... 55 141,822 235,760 25,600 193,451 5,019 601,652 457,027 61,650 44,972 2,468 35,535

Vermont.............................. 77 45,286 103,699 25,463 188,955 4,192 367,595 313,450 13,084 1,604 2,026 37,431

Virginia................................ 312 470,492 760,726 87,282 676,930 26,783 2,022,213 1,515,109 185,763 159,086 13,703 148,552

Washington......................... 125 463,526 895,169 183,824 667,232 19,751 2,229,502 1,845,172 164,382 82,580 10,098 127,270

West Virginia..................... 180 211,765 447,330 45,079 273,074 11,088 988,336 759,876 105,086 38,349 5,185 79,840

Wisconsin............................ 556 612,144 1,557,291 225,591 749,257 26,745 3,171,028 2,669,660 173,038 126,594 7,754 193,982

Wyoming............................. 53 76,884 115,051 11,759 66,300 1,687 271,681 208,942 33,477 13,665 796 14,801

Possession

Alaska..................................

American Samoa...............

19

1

25,022

264

33,179

1,129

17,056

166,160

2,380 19,964

19

985

13

81,530

1,425

62,001

967

12,850

301

1,334

24

126 5,219

133

Guam.................................... 1 2,650 35 419 411 20,571

423,580

17,188

322,310

2,300

65,740

57

944

1,026

Hawaii.................................. 9 79,772 19,549 151,177 6,922 3,360 31,226

Panama Canal Zone......... 4 2,214 3,785 875 20,191 27,065 12,473 14,526

93,856

42 24

Puerto Rico........................ 13 42,628 97,052 39,342 110,983 24,365 314,370 156,026 7,502 17,801 39,185

Virgin Islands..................... 2 830 2,370 20 1,204 51 4,475 3,004 1,043 11 25 392

1 Includes 31 noninsured banks of deposit (20 in Georgia, 3 in Iowa, 3 in Michigan, 4 in Texas, and 1 in the Virgin Islands) 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.

8 Deposits of the United States Government and of States and political subdivisions. i—1

4 Interbank deposits and postal savings deposits. ^

6 Includes Puerto Rico and the Virgin Islands.

8 Includes Alaska, American Samoa, Guam, Hawaii, and the Panama Canal Zone.

Back figures: See the Annual Report for 1948, pp. 92-93, and earlier reports.

ASSETS 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 0 7 . A s s e t s a n d L i a b i l i t i e s o f O p e r a t in g In s u r e d B a n k s , D e c e m b e r 31, 1949, J u n e 30, 1949, a n d D e c e m b e r 31, 1948 ^

(Amounts in thousands of dollars)

Assets

All insured banks Insured commercial banks1 Insured mutual savings banks

Dec. 31,

1949

June 30,

1949

Dec. 31,

1948

Dec. 31,

1949

June 30,

1949

Dec. 31,

1948

Dec. 31,

1949

June 30,

1949

Dec. 31,

1948

Total assets.................................................................................. 170,378,776 161,887,992 166,312,875 155,318,889 147,216,367 152,162,979 15,059,887 14,671,625 14,149,896

Gash, balances with other banks, and cash collection items— total.....................................................

Currency and coin................................................................

Reserve with Federal Reserve banks (member banks)

Demand balances with banks in the United States

(except private banks and American branches of

foreign banks)..................................................................

Other balances with banks in the United States.........

Balances with banks in foreign countries......................

Cash items in process of collection..................................

35,904,132

2,067,673

16,428,505

9,806,738

254,070

41,713

7,305,433

34,360,974

2,108,917

17,807,784

8,066,529

263,323

18,359

6,096,062

38,781,764

2,019,818

20,405,686

9,277,976

267,161

29,609

6,781,514

35,222,106

1,987,821

16,427,544

9,438,657

37,906

41,713

7,288,465

33,731,946

2,038,588

17,806,625

7,748,380

37,400

18,359

6,082,594

38,097,434

1,941,281

20,404,402

8,910,108

44,523

29,609

6,767,511

682,026

79,852

961

368,081

216,164

.........16,968

629,028

70,329

1,159

318,149

225,923

........ 13,468

684,330

78,537

1,284

367,868

222,638

.........14,003

Obligations of the U. S. Government, direct and

guaranteed— tota l....................................................

Direct:

Treasury bills....................................................................

Treasury certificates of indebtedness..........................

Treasury notes..................................................................

United States non-marketable bonds2........................

Other bonds maturing in 5 years or less....................

Other bonds maturing in 5 to 10 years......................

Other bonds maturing in 10 to 20 years....................

Bonds maturing after 20 years.....................................

Guaranteed obligations (FHA debentures)...................

73,679,157

3,703,170

12,560,194

5,883,832

2,291,309

27,895,168

7,825,481

8,532,235

4,980,649

7,119

69,927,921

2,850,641

10,533,799

2,055,136

2,222,035

25,425,109

10,305,198

10,958,796

5,570,538

6,669

69,201,909

2,856,974

10,192,357

3,434,733

2,242,448

19,886,510

15,761,655

9,195,542

5,622,961

8,729

65,847,210

3,691,818

12,488,302

5,811,425

2,009,216

27,278,311

7,691,960

4,461,014

2,408,949

6,215

61,988,221

2,846,349

10,440,237

2,044,696

1,955,660

24,902,684

9,992,465

7,388,890

2,411,094

6,146

61,406,786

2,821,589

10,068,450

3,394,553

1,985,987

19,373,541

15,113,921

6,581,427

2,058,914

8,404

7,831,947

11,352

71,892

72,407

282,093

616,857

133,521

4,071,221

2,571,700

904

7,939,700

4,292

93,562

10,440

266,375

522,425

312,733

3,569,906

3,159,444

523

7,795,123

35,385

123,907

40,180

256,461

512,969

647,734

2,614,115

3,564,047

325

Other securities— total.......................................................

Obligations of States and political subdivisions...........

Other bonds,, notes, and debentures3..............................

Corporate stocks:

Federal Reserve banks....................................................

Other corporate stocks....................................................

11,539,392

6,478,189

4,738,594

210,878

111,731

10,798,761

5,829,029

4,650,024

205,466

114,242

10,339,110

5,569,475

4,448,338

201,292

120,005

9,977,012

6,402,782

3,261,461

210,829

101,940

9,254,926

5,765,550

3,181,481

205,418

102,477

8,932,015

5,511,216

3,113,073

201,243

106,483

1,562,380

75,407

1,477,133

49

9,791

1,543,835

63,479

1,468,543

48

11,765

1,407,095

58.259

1,335,265

49

13,522

Total securities.......................................................... 85,218,549 80,726,682 79,541,019 75,824,222 71,243,147 70,338,801 9,394,327 9,483,535 9,202,218

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Loans and discounts, net— total.........................

Valuation reserves4........................................................

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:

On farm land..........................................................

On residential properties.....................................

On 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— to ta 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..............................................

47,312,970

766,442

48,079,412

44,932,105

666,127

45,598,232

46,088,073

618,121

46,706,194

42,498,666

548,034

43,046,700

40,535,377

453,930

40,989,307

41,978,595

409,217

42,387,812

4,814,304

218,408

5,032,712

4,396,728

212,197

4,608,925

4,109,478

208,904

4,318,382

16,959,727 16,316,842 18,790,619 16,939,200 16,295,925 18,765,233 20,527 20,917 25,386

975,832 532,666 885,491 975,832 532,666 885,491

1,988,281

1,748,606

2,201,888

1,971,913

1,889,850

1,336,299

1,987,280

1,748,606

2,201,037

1,971,913

1,889,045

1,336,299

1,001 851 805

855,388 901,473 939,977 854,781 900,863 939,353 607 610 624

914,354

12,576,193

2,895,101

8,039,973

97,913

1,028,044

906,418

11,784,130

2,755,320

7,202,421

99,151

926,010

872,907

11,345,687

2,712,587

6,834,204

121,126

977,447

885,617

8,513,089

2,014,215

8,007,054

97,913

1,023,113

878,476

8,059,651

1,954,647

7,172,380

99,151

922,598

847,912

7,912,634

1,910,842

6,806,207

121,126

973,670

28,737

4,063,104

880,886

32,919

..........4,931

27,942

3,724,479

800,673

30,041

............3,412

24,995

3,433,053

801,745

27,997

........... 3,777

132,531,519 125,658,787 125,629,092 118,322,888 111,778,524 112,317,396 14,208,631 13,880,263 13,311,696

1,225,098

954,554

170,195

21,690

1,207,448

942,068

164,725

23,542

1,166,983

930,711

145,059

22,088

1,139,375

877,732

168,419

18,314

1,117,896

864,948

163,090

19,152

1,079,417

855,428

143,618

16,794

85,723

76,822

1,776

3,376

89,552

77,120

1,635

4,390

87,566

75,283

1,441

5,294

78,659 77,113 69,125 74,910 70,706 63,577 3,749 6,407 5,548

718,027

170,705

323,308

32,500

191,514

660,783

135,451

292,998

32,426

199,908

735,036

180,093

297,735

30,505

226,703

634,520

170,705

274,625

29,256

159,934

588,001

135,451

245,608

30,444

176,498

668,732

180,093

250,844

28,081

209,714

83,507

......... 48,683

3,244

31,580

72,782

......... 47,390

1,982

23,410

66,304

......... 46,891

2,424

16,989

21.1%

43.2

6.8

27.8

1.1

7.1

2 1 .2 %

43.2

6.7

27.8

1.1

7.3

23 .3 %

41.6

6.2

27.7

1.2

6.9

2 2 .7 %

42.4

6.4

27.4

1.1

6.9

22.9 %

42.1

6.3

27.5

1.2

7.1

25.0 %

40.4

5.9

27.6

1.1

6.7

4 .5 %

52.0

10.4

32.0

1.1

9.4

4.3%

54.1

10.5

30.0

1.1

9.4

4 .8 %

55.1

9.9

29.1

1.1

9.4

ASSETS AND LIABILITIES OF OPERATING BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 10 7 . 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 r e d B a n k s, D e c e m b e r 31, 1949, J u n e 30, 1949, an d D e c e m b e r 31, 1948— Continued

(Amounts in thousands of dollars)

Liabilities and capital

Total liabilities and capital accounts..............................

Deposits of individuals, partnerships, and corporations— tota l............................................................

Demand...................................................................................

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 political subdivisions— demand...................

States and political subdivisions— time..........................

Interbank and postal savings deposits— to ta l.........

Banks in the United States— demand............................

Banks in the United States— time..................................

Banks in foreign countries— demand..............................

Banks in foreign countries— time....................................

Postal savings........................................................................

Total deposits................................................................

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)

All insured banks

Dec. 31,

1949

170,378,776

130,172,268

82,138,607

48,033,661

2,341,659

11,896,122

3,056,587

178,121

7,425,023

1,236,391

12,375,807

10,884,885

29,539

1,315,270

139,398

6,715

156,785,856

107,162,031

U9,623,825

1,524,711

14,154

199,790

70,563

249,130

393,113

597,961

158,310,567

June 30,

1949

161,887,992

124,832,315

77,029,872

47,802,443

2,355,090

10,884,421

2,140,382

157,309

7,342,126

1,244,604

10,585,077

9,058,249

29,349

1,373,799

117,734

5,946

148,656,903

99,299,518

1*9,357,385

1,395,746

27,756

150,322

65,085

210,903

374,347

567,333

150,052,649

Dec. 31,

1948

166,312,875

128,724,870

81,708,040

47,016,830

2,115,641

10,706,677

2,326,921

111,138

7,186,759

1,081,859

11,906,860

10,344,114

35,224

1,487,709

34,012

5,801

153,454,048

105,169,18U

h8,28U,861>

1,364,191

54,625

201,980

64,630

195,548

349,224

498,184

154,818,239

Insured commercial banks1

Dec. 31,

1949

155,318,889

116,590,911

82,128,729

34,462,182

2,338,307

11,889,661

3,054,607

177,863

7,423,797

1,233,394

12,375,430

10,884,850

29,197

1,315,270

139,398

6,715

143,194,309

107,1U5,560

36,0Jf8,7U9

1,475,881

14,154

199,790

66,742

247,437

383,378

564,380

144,670,190

June 30,

1949

147,216,367

111,598,463

77,020,805

34,577,658

2,352,568

10,880,931

2,139,211

157,260

7,341,464

1,242,996

10,584,390

9,058,204

28,707

1,373,799

117,734

5,946

135,416,352

99,286,051

36,130,301

1,345,851

26,605

150,322

55,122

209,420

365,857

538,525

136,762,203

Dec. 31,

1948

152,162,979

115,960,249

81,698,513

34,261,736

2,113,210

10,702,845

2,325,231

111,065

7,186,133

1,080,416

11,906,217

10,344,069

34,626

1,487,709

34,012

5,801

140,682,521

105,15^,865

35,527,656

1,320,003

53,

20l!

6i; 

194!

340;

467!

142,002,524

Insured mutual savings banks

Dec. 31,

1949

15,059,887

13,581,357

9,878

13,571,479

3,352

6,461

1,980

258

1,226

2,997

377

35

342

13,591,547

16,1+71

13,575,076

48,830

3,821

1,693

9,735

33,581

13,640,377

June 30,

1949

14,671,625

13,233,852

9,067

13,224,785

2,522

3,490

1,171

49

662

1,608

687

45

642

13,240,551

13,1+67

13,227,081+

49,895

1,151

9,963

1,483

8,490

28,808

13,290,446

Dec. 31,

1948

14,149,896

12,764,621

9,527

12,755,094

2,431

3,832

1,690

73

626

1,443

643

45

598

12,771,527

lk,319

12,757,208

44,188

787

3,000

1,496

8,262

30,643

12,815,715

148 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Capital accounts— total.....................................................

Capital stock, notes, and debentures.............................

Surplus....................................................................................

Undivided profits.................................................................

Reserves.................................................................................

MEMORANDA

Pledged assets and securities loaned...........................

Capital stock, notes, and debentures:

Par or face value— total.................................................

Common stock..................................................................

12,068,209

3,400,822

5,863,498

2,248,909

554,980

11,835,343

3,372,985

5,579,755

2,301,017

581,586

11,494,636

3,268,865

5,501,891

2,153,240

570,640

10,648,699

3,395,489

4,803,154

1,954,348

495,708

10,454,164

3,368,129

4,552,144

2,010,341

523,550

10,160,455

3,264,146

4,504,089

1,872,518

519,702

1,419,510

5,333

1,060,344

294,561

59,272

1,381,179

4,856

1,027,611

290,676

58,036

1,334,181

4,719

997,802

280,722

50,938

14,659,992 13,835,845 13,436,912 14,659,992 13,835,845 13,436,912

3,403,769

3,305,479

29,261

69,029

3,376,511

3,271,677

28,829

76,005

3,272,723

3,164,300

30,034

78,389

3,396,239

3,305,479

21,731

69,029

3,368,881

3,271,677

21,199

76,005

3,264,993

3,164,300

22,304

78,389

7,530 7,630 7,730

Capital notes and debentures......................................

Preferred stock.................................................................

7,530 7,630 7,730

Retireable value of preferred stock................................. 131,062 140,013 146,799 131,062 140,013 146,799

Number of banks.......................................................................... 13,628 13,614 13,612 13,436 13,423 13,419 192 191 193

1 Includes stock savings banks and nondeposit trust companies.

2 United States savings bonds, Treasury bonds (investment series A-1965), and depositary bonds.

3 Includes obligations of United States Government corporations and agencies, not guaranteed by the United States Government.

4 Reserves for losses on loans authorized by the Bureau of Internal Revenue for income tax purposes and other valuation reserves.

Back figures: See the Annual Report for 1948, pp. 94-97.

ASSETS AND LIABILITIES OF OPERATING BAN K S

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Federal Reserve Bank of St. Louis
Table 108. 

Table 109.

Table 110.

Examiners’ appraisal of assets, liabilities, and capital of insured commercial banks 

examined in 1941-1949

Examiners’ appraisal of assets, liabilities, and capital of insured commercial banks 

examined in 1949

Banks grouped according to amount of deposits

Examiners’ appraisal of assets, liabilities, and capital of insured commercial banks 

examined in 1949

Banks grouped by Federal Deposit Insurance Corporation district and State

E x a m in e r s ’ E v a l u a t io n of I n s u r e d C o m m e r c ia l B a n k s

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Federal Reserve Bank of St. Louis
The tables in this section present a summary of the evaluation of 

bank assets and liabilities made by examiners of the Federal supervisory 

agencies. Since bank examinations are made at various dates during 

the year, these tables differ from those in the previous sections, which 

are based on reports submitted by the banks for specified dates. These 

tables have been prepared from reports of examination available during 

the year and do not cover precisely the banks examined in that year. 

The figures for 1949 include 13,242 insured commercial banks operating 

at the close of the year and 24 banks which ceased operations or were 

taken over by others during the year. Figures for 193 insured banks 

operating at the close of the year were not included in the tabulations: 

7 because they were not engaged in deposit banking, and 186 because 

reports of examination were, for various reasons, not available for 

tabulation. For 226 banks the figures are derived from reports of 

examination made in the last three months of 1948.

Evaluation of assets

Book value of assets is the net value, after deduction of valuation 

and premium reserves, at which the assets are carried on the books 

of the banks at the time of examination.

Assets not on the books represent the determinable sound value 

of assets which are not included in the bank’s statement of assets or 

are carried at nominal values.

Examiners’ deductions from total assets represent the difference 

between the appraised value and book value of assets shown on the 

books.

Examiners’ deductions (net) from total assets in Table 110 is 

the difference between examiners’ deductions and the determinable 

sound values of assets not shown on the books.

Appraised value of total assets represents the value of all assets as 

determined by examiners and is segregated into two groups: (1) not 

criticized, which represents the appraised value of assets regarded as 

suitable for bank investment; and (2) substandard, which represents the 

appraised value of assets believed by the examiners to involve a substantial degree of risk, or to be otherwise undesirable for bank investment. For a description of the procedure followed in examiners’ evaluation of assets, see the Annual Report of the Corporation for 1938, pages 

61-78 and pages 10-11 of this Report. Appraised value of other securities 

and of loans and discounts does not include assets not shown on the 

books which are included in the appraised value of fixed and miscellaneous assets.

Evaluation of liabilities and capital

Adjusted liabilities include all liabilities shown on the books and 

such others as have been determined by the examiners.

Book value of capital accounts refers to the net worth or equity 

of the stockholders (including holders of capital notes and debentures) 

shown on the books at the time of examination.

Adjusted capital accounts equal book value of total capital accounts plus the value of assets not shown on the books, less examiners’ 

deductions from total assets, and less liabilities not shown on the books. 

The term “ adjusted capital accounts” corresponds to the term “ net 

sound capital” used in the Annual Reports of the Corporation for the 

years 1939-1943.

E X A M IN E R S7 EVALUATION OF INSURED COMMERCIAL B AN K S

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Table 108. E x a m in e r s * A p p r a is a l o f A s s e t s , L i a b i l i t i e s , a n d C a p i t a l o f In s u r e d C o m m e r c ia l B a n k s E x a m in e d in 1941-1949

(Amounts in thousands of dollars)

Asset, liability, or capital account item 1941 1942 1943 1944 1945 1946 1947 1948 1949

Total assets— book value....................................

Assets not on the books.......................................

Examiners’ deductions.........................................

Appraised value.....................................................

Not criticized,.......................................................

Substandard.........................................................

71,697,320

19,851

174,037

71,543,134

69,512,512

2,030,622

80,449,956

20,089

145,741

80,324,304

78,610,078

1,711*,226

102,021,738

26,346

97,144

101,950,940

100,690,81*3

1,260,097

118,843,675

20,897

54,193

118,810,379

117,981*,985

825,391*

138,032,336

20,283

29,354

138,023,265

137,1*01*,382

618,883

147,828,793

16,017

25,095

147,819,715

11*7,293,671

526,01*1*

144,531,287

15,156

35,596

144,510,847

11*3,811*,520

696,327

147,679,494

16,056

40,775

147,654,775

11*6,866,522

788,253

149,150,139

13,252

34,009

149,129,382

11*8,367,106

762,276

Cash and due from banks.................................. 24,107,119 24,618,882 25,342,868 26,036,187 29,215,660 0) 31,790,001 33,487,233 33,021,350

U. S. Government obligations— book value

Appraised value3....................................................

(2)

(2)

26,799,729

26,807,855

50,067,210

50,073,639

65,089,147

65,096,303

78,783,904

78,794,810

«

0)

69,134,182

(4)

63,438,109

(4)

63,466,989

(3)

Other securities— book value............................

Appraised value.....................................................

Not criticized.......................................................

Substandard.........................................................

25,759,640

25,722,984

21*,970,1*12

752,572

6,682,798

6,651,951

6,031*,558

617,393

6,055,350

6,040,897

5,578,71*3

1*62,151*

5,805,695

5,800,937

5,1*99,037

301,900

6,215,580

6,213,954

5,951*,653

259,301

0 )

0)

7,890,527

7,888,268

7,657,623

230,61*5

8,435,320

8,432,640

8,221,268

211,372

9,047,781

9,045,770

8,81*5,376

200,391*

Loans and discounts— book value..................

Appraised value.....................................................

Not criticized.......................................................

Substandard.........................................................

19,544,145

19,467,422

18,618,309

81*9,113

20,136,352

20,071,927

19,303,969

767,958

18,290,697

18,251,118

17,710,001

51*1,117

19,562,561

19,539,481

19,180,11*1*

359,337

21,436,642

21,424,482

21,161,567

262,915

0)

0 )

(!)

0)

33,100,496

33,075,357

32,653,390

1*21,967

39,416,074

39,385,909

38,852,883

533,026

40,778,572

40,752,947

1*0,238,01*5

511*, 902

Fixed and miscellaneous assets— book value

Appraised value.....................................................

Not criticized.......................................................

Substandard.........................................................

2,286,416

2,245,609

1,816,672

1*28,937

2,212,195

2,173,689

1,81*1*,811*

328,875

2,265,613

2,242,418

1,985,592

256,826

2,350,085

2,337,471

2,173,311*

161*,157

2,380,550

2,374,359

2,277,692

96,667

0 )

0)

0)

0)

2,616,081

2,623,039

2,579,321*

1*3,715

2,902,758

2,910,884

2,867,029

1*3,855

2,835,447

2,842,326

2,795,31*6

1*6,980

Total liabilities— book value.............................

Total deposits.........................................................

Other liabilities— book value..............................

Liabilities not on the books................................

Adjusted total liabilities......................................

65,012,512

64,218,740

793,772

6,084

65,018,596

73,529,826

72,755,007

774,819

7,362

73,537,188

94,882,516

94,087,113

795,403

4,491

94,887,007

111,242,503

110,177,295

1,065,208

7,563

111,250,066

129,849,891

128,263,849

1,586,042

3,731

129,853,622

139,081,529

137,221,546

1,859,983

4,719

139,086,248

135,120,704

133,169,657

1,951,047

2,635

135,123,339

137,795,798

135,666,637

2,129,161

4,083

137,799,881

138,712,491

136,424,272

2,288,219

4,614

138,717,105

Total capital accounts— book value..............

Assets not on the books.......................................

Examiners’ deductions from total assets........

Liabilities not on the books................................

Adjusted capital accounts...................................

6,684,808

19,851

174,037

6,084

6,524,538

6,920,130

20,089

145,741

7,362

6,787,116

7,139,222

26,346

97,144

4,491

7,063,933

7,601,172

20,897

54,193

7,563

7,560,313

8,182,445

20,283

29,354

3,731

8,169,643

8,747,264

16,017

25,095

4,719

8,733,467

9,410,583

15,156

35,596

2,635

9,387,508

9,883,696

16,056

40,775

4,083

9,854,894

10,437,648

13,252

34,009

4,614

10,412,277

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Adjusted capital accounts per $100 of—

Book capital............................................................

Appraised value of total assets..........................

$97.60

9.12

$98.08

8.45

$98.95

6.93

$99.46

6.36

$99.84

5.92

$99.84

5.91

$99.75

6.50

$99.71

6.67

$99.76

6.98

Substandard assets per $100 of—

Appraised value of total assets..........................

Adjusted capital accounts...................................

2.84

31.12

2.13

25.26

1.24

17.84

.69

10.92

.45

7.58

.36

6.02

.48

7.42

.53

8.00

.51

7.32

Substandard loans and discounts per

$100 of—

Appraised value of loans and discounts.......... 4.36 3.83 2.96 1.84 1.23 0) 1.28 1.35 1.26

Number of banks....................................................... 13,308 13,303 13,207 12,983 12,473 12,493 12,747 12,927 13,266

1 Not available separately.

. 2 U. S. Government obligations not available separately; included under other securities.

3 Appraised value is in excess of book value due to the excess of redemption value of U. S. savings bonds not shown on the books over examiners’ deductions of unamortized

premiums on U. S. Government obligations purchased above par.

4 Appraised value not available. Redemption value of U. S. savings bonds not shown on the books included under fixed and miscellaneous assets, while examiners’ deductions

of unamortized premium on U. S. Government obligations purchased above par included under other securities.

EXAMINERS EVALUATION OF INSURED COMMERCIAL BAN K S

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Table 109. E x a m in e r s ’ A p p r a is a l o f A s s e ts , L ia b ilitie s , an d C a p it a l o f In s u r e d C o m m e rc ia l B a n k s E x a m in e d in 1949

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Asset, liability, or capital account item

8 Banks with deposits of—

All

banks $500,000

or less

$500,000

to

$1 ,000,000

$1 ,000,000

to

$2 ,000,000

$2 ,000,000

to

$5,000,000

$5,000,000

to

$10 ,000,000

$10 ,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

More than

$100,000,000

(Aimounts in thoiisands of dollars)

Total assets— book value..................................... 149,150,139 242,622 1,623,902 5,220,188 14,156,948 13,045,332 26,304,177 11,291,440 77,265,530

13,252 118 915 2,223 3,531 2,034 2,768 577 1,086

34,009 392 1,514 3,682 7,569 5,219 7,575 3,277 4,781

149,129,382 242,348 1,623,303 5,218,729 14,152,910 13,042,147 26,299,370 11,288,740 77,261,835

148,367,106 237,242 1,602,849 5,163,792 14,031,633 12,948,672 26,161,592 11,229,779 76,991,547

Substandard......................................................... 762,276 5,106 20,454 54,937 121,277 93,475 137,778 58,961 270,288

Cash and due from banks.................................. 33,021,350 61,182 352,484 1,091,438 2,926,542 2,611,197 5,502,078 2,614,925 17,861,504

U. S. Government obligations— book value 63,466,989 85,093 673,997 2,240,341 6,130,471 5,726,699 11,937,773 5,022,797 31,649,818

Other securities— book value............................ 9,047,781 9,501 83,474 307,759 1,053,736 1,064,724 1,903,650 657,802 3,967,135

Appraised value...................................................... 9,045,770 9,482 83,436 307,598 1,053,312 1,064,378 1,902,799 657,776 3,966,989

8,845,376 8,807 81,747 301,208 1,031,066 1,040,747 1,862,939 642,065 3,876,797

Substandard......................................................... 200,394 675 1,689 6,390 22,246 23,631 39,860 15,711 90,192

Loans and discounts— book value.................. 40,778,572 84,372 500,810 1,537,798 3,917,824 3,503,816 6,609,559 2,810,828 21,813,565

Appraised value......................................................

Not criticized........................................... ...........

40,752,947 84,026 499,491 1,534,600 3,911,464 3,499,518 6,604,093 2,808,371 21,811,384

40,238,045 79,730 481,078 1,487,148 3,815,428 3,433,435 6,515,926 2,771,918 21,653,382

Substandard......................................................... 514,902 4,296 18,413 47,452 96,036 66,083 88,167 36,453 158,002

Fixed and miscellaneous assets— book value 2,835,447 2,474 13,137 42,852 128,375 138,896 351,117 185,088 1,973,508

2,842,326 2,565 13,895 44,752 131,121 140,355 352,627 184,871 1,972,140

2,795,346 2,430 13,543 43,657 128,126 136,594 342,876 178,074 1,950,046

46,980 135 352 1,095 2,995 3,761 9,751 6,797 22,094

Total liabilities— book value............................. 138,712,491 215,310 1,483,612 4,819,524 13,150,308 12,160,140 24,591,181 10,575,507 71,716,909

136,424,272 214,503 1,478,443 4,806,320 13,106,614 12,100,736 24,427,489 10,472,876 69,817,291

2,288,219 807 5,169 13,204 43,694 59,404 163,692 102,631 1,899,618

Liabilities not on the books................................ 4,614 51 160 313 559 452 996 352 1,731

Adjusted total liabilities................. ..................... 138,717,105 215,361 1,483,772 4,819,837 13,150,867 12,160,592 24,592,177 10,575,859 71,718,640

Total capital accounts— book value..............

Assets not on the books.......................................

10,437,648

13,252

27,312

118

140,290

915

400,664

2,223

1,006,640

3,531

885,192

2,034

1,712,996

2,768

715,933

577

5,548,621

1,086

Examiners’ deductions from total assets......... 34,009 392 1,514 3,682 7,569 5,219 7,575 3,277 4,781

Liabilities not on the books................................ 4,614 51 160 313 559 452 996 352 1,731

Adjusted capital accounts................................... 10,412,277 26,987 139,531 398,892 1,002,043 881,555 1,707,193 712,881 5,543,195

154 FEDERAL DEPOSIT INSURANCE CORPORATION

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Adjusted capital accounts per $100 of—

Book capital............................................................

Appraised value of total assets..........................

$99.76

6.98

$98.81

11.14

$99.46

8.60

$99.56

7.64

$99.54

7.08

$99.59

6.76

$99.66

6.49

$99.57

6.31

$99.90

7.17

Substandard assets per $100 of—

Appraised value of total assets..........................

Adjusted capital accounts...................................

.51

7.32

2 .1 1

18.92

1.26

14.66

1.05

13.77

.86

12 .10

.72

10.60

.52

8.07

.52

8.27

.35

4.88

Substandard loans and discounts per

$100 of—

Appraised value of loans and discounts.......... 1.26 5.11 3.69 3.09 2.45 1.89 1.34 1.30 .72

Number of banks....................................................... 13,266 580 1,944 3,289 4,163 1,735 1,235 148 172

Back figures: See the Annual Report for 1948, pp. 102-103, and earlier reports.

Oi

Oi e x a m i n e r s ' e v a l u a t i o n of in s u r e d c o m m e r c ia l b a n k s

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(Amounts in thousands of dollars)

Table 110. E x a m in e r s ’ A p p r a is a l o f A s s e t s , L i a b i l i t i e s , a n d C a p i t a l o f In s u r e d C o m m e r c ia l B a n k s E x a m in e d in 1949

BANKS GROUPED BY FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICT AND STATE

FDIC District

and State

Number

of

banks

Total assets Total liabilities Total capital

accounts Adjusted

capital

accounts

per $100 of

appraised

value of

total

assets

Substandard assets

per $100 of—

Book

value

Examiners'

deductions

(net)1

Appraised value

Book

value

Adjusted

value

Book

value

Adjusted

value

Appraised

value of

total

assets

Adjusted

capital

accounts Total Not

criticized

Substandard

United States and

possessions......... 13,266 149,150,139 20,757 149,129,382 148,367,106 762,276 138,712,491 138,717,105 10,437,648 10,412,277 6.98 .51 7.32

United States... . 13,259 149,095,289 20,726 149,074,563 148,313,058 761,505 138,660,723 138,665,336 10,434,566 10,409,227 6.98 .51 7.32

Possessions........... 7 54,850 31 54,819 54,048 771 51,768 51,769 3,082 3,050 5.56 1.41 25.28

FDIC District

District 1.............. 462 7,402,459 2,125 7,400,334 7,369,770 30,564 6,796,320 6,796,325 606,139 604,009 8.16 .41 5.06

District 22............. 1,004 38,398,617 6,459 38,392,158 38,159,529 232,629 35,186,995 35,187,744 3,211,622 3,204,414 8.35 .61 7.26

District 3 .............. 1,608 18,184,755 2,123 18,182,632 18,094,908 87,724 16,655,754 16,657,831 1,529,001 1,524,801 8.39 .48 5.75

District 4 .............. 1,025 8,024,673 2,314 8,022,359 7,967,850 54,509 7,469,475 7,469,605 555,198 552,754 6.89 .68 9.86

District 5 .............. 882 5,470,941 836 5,470,105 5,426,503 43,602 5,116,515 5,116,614 354,426 353,491 6.46 .80 12.33

District 6 .............. 1,408 8,524,430 1,489 8,522,941 8,473,381 49,560 7,990,246 7,990,407 534,184 532,534 6.25 .58 9.31

District 7 .............. 1,429 11,417,286 8U 11,417,370 11,375,799 41,571 10,758,214 10,758,550 659,072 658,820 5.77 .36 6.31

District 8 .............. 1,479 14,499,259 666 14,499,925 14,443,565 56,360 13,613,448 13,613,595 885,811 886,330 6 .1 1 .39 6.36

District 9 .............. 1,060 4,436,350 U73 4,436,823 4,418,477 18,346 4,183,548 4,183,580 252,802 253,243 5.71 .41 7.24

District 10............ 1,390 5,857,817 1,773 5,856,044 5,825,175 30,869 5,507,905 5,508,497 349,912 347,547 5.93 .53 8.88

District 11............ 1,039 8,730,685 2,724 8,727,961 8,679,498 48,463 8,230,771 8,230,991 499,914 496,970 5.69 .56 9.75

District 123........... 480 18,202,867 2,137 18,200,730 18,132,651 68,079 17,203,300 17,203,366 999,567 997,364 5.48 .37 6.83

State

Alabama............... 2 11 1,269,789 271 1,269,518 1,263,243 6,275 1,185,775 1,185,802 84,014 83,716 6.59 .49 7.50

Arizona................. 5 380,509 78 380,431 374,618 5,813 362,979 362,980 17,530 17,451 4.59 1.53 33.31

Arkansas............... 218 801,348 86 801,262 798,003 3,259 749,529 749,542 51,819 51,720 6.45 .41 6.30

California............. 188 13,698,847 1,165 13,697,682 13,653,412 44,270 12,950,474 12,950,518 748,373 747,164 5.45 .32 5.93

Colorado............... 139 1,159,896 2 1,159,894 1,154,743 5,151 1,091,757 1,091,860 68,139 68,034 5.87 .44 7.57

Connecticut......... 97 1,511,179 215 1,510,964 1,504,530 6,434 1,393,192 1,393,194 117,987 117,770 7.79 .43 5.46

Delaware............... 37 477,786 285 477,501 468,205 9,296 428,002 428,015 49,784 49,486 10.36 1.95 18.79

Dist. of Columbia 19 1,097,842 147 1,097,695 1,095,314 2,381 1,028,295 1,028,296 69,547 69,399 6.32 .22 3.43

Florida................... 185 1,796,311 467 1,795,844 1,779,122 16,722 1,686,451 1,686,461 109,860 109,383 6.09 .93 15.29

Georgia................. 292 1,619,346 145 1,619,201 1,607,111 12,090 1,508,321 1,508,363 111,025 110,838 6.85 .75 10.91

156 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Idaho..................... 42 420,346 41 420,305 419,374 931 399,961 399,973 20,385 20,332 4.84 .22 4.58

Illinois................... 874 12,224,179 57 12,224,236 12,184,813 39,423 11,477,840 11,477,917 746,339 746,319 6 .1 1 .32 5.28

Indiana................. 471 3,123,202 55 3,123,147 3,107,810 15,337 2,938,702 2,938,803 184,500 184,344 5.90 .49 8.32

Iowa....................... 605 2,275,080 609 2,275,689 2,258,752 16,937 2,135,608 2,135,678 139,472 140,011 6.15 .74 12 .10

Kansas.................. 460 1,509,343 784 1,508,559 1,498,893 9,666 1,423,832 1,424,013 85,511 84,546 5.60 .64 11.43

Kentucky............. 354 1,544,975 358 1,544,617 1,535,937 8,680 1,434,786 1,434,835 110,189 109,782 7.11 .56 7.91

Louisiana.............. 157 1,721,507 68 1,721,439 1,714,270 7,169 1,630,775 1,630,939 90,732 90,500 5.26 .42 7.92

Maine.................... 54 445,608 136 445,472 442,617 2,855 407,349 407,351 38,259 38,121 8.56 .64 7.49

Maryland............. 161 1,549,822 297 1,549,525 1,539,153 10,372 1,444,400 1,444,408 105,422 105,117 6.78 .67 9.87

Massachusetts. . . 173 4,301,397 951 4,300,446 4,291,529 8,917 3,950,843 3,950,844 350,554 349,602 8.13 .21 2.55

Michigan............... 417 5,218,641 128 5,218,513 5,203,656 14,857 4,930,104 4,930,140 288,537 288,373 5.53 .28 5.15

Minnesota............ 644 2,865,443 396 2,865,839 2,854,726 11,113 2,688,168 2,688,188 177,275 177,651 6.20 .39 6.26

Mississippi........... 194 785,495 U7 785,542 777,027 8,515 735,968 735,988 49,527 49,554 6.31 1.08 17.18

Missouri................ 556 4,233,082 777 4,232,305 4,209,478 22,827 3,981,098 3,981,143 251,984 251,162 5.93 .54 9.09

Montana............... 110 579,603 56 579,547 575,553 3,994 554,258 554,260 25,345 25,287 4.36 .69 15.79

Nebraska.............. 362 1,288,172 256 1,287,916 1,282,945 4,971 1,214,731 1,214,826 73,441 73,090 5.68 .39 6.80

Nevada................. 8 169,876 95 169,781 168,116 1,665 160,527 160,528 9,349 9,253 5.45 .98 17.99

New Hampshire.. 57 227,911 229 227,682 225,580 2,10 2 204,425 204,425 23,486 23,257 10 .2 1 .92 9.04

New Jersey........... 329 4,804,203 1,299 4,802,904 4,753,875 49,029 4,486,538 4,486,709 317,665 316,195 6.58 1.02 15.51

New Mexico........ 45 302,996 421 302,575 299,432 3,143 287,445 287,447 15,551 15,128 5.00 1.04 20.78

New York............. 637 33,112,359 4,875 33,107,484 32,933,280 174,204 30,268,560 30,269,124 2,843,799 2,838,360 8.57 .53 6.14

North Carolina... 224 1,767,887 214 1,767,673 1,753,294 14,379 1,651,004 1,651,033 116,883 116,640 6.60 .81 12.33

North Dakota___ 143 496,425 42 496,467 495,317 1,150 472,618 472,624 23,807 23,843 4.80 .23 4.82

Ohio....................... 649 7,464,662 700 7,463,962 7,441,502 22,460 7,001,417 7,001,428 463,245 462,534 6.20 .30 4.86

Oklahoma............. 375 1,647,726 610 1,647,116 1,637,285 9,831 1,539,319 1,539,525 108,407 107,591 6.53 .60 9.14

Oregon................... 66 1,345,649 346 1,345,303 1,336,601 8,702 1,267,116 1,267,119 78,533 78,184 5.81 .65 11.13

Pennsylvania. . . . 959 10,720,093 1,423 10,718,670 10,653,406 65,264 9,654,337 9,656,403 1,065,756 1,062,267 9.91 .61 6.14

Rhode Island. . . . 12 647,745 36 647,709 645,688 2,021 599,362 599,362 48,383 48,347 7.46 .31 4.18

South Carolina.. . 132 667,650 77 667,727 664,530 3,197 627,291 627,308 40,359 40,419 6.05 .48 7.91

South Dakota... . 163 494,879 91 494,970 492,881 2,089 468,504 468,508 26,375 26,462 5.35 .42 7.89

Tennessee............. 280 1,945,025 268 1,944,757 1,929,963 14,794 1,824,833 1,824,887 120,192 119,870 6.16 .76 12.34

Texas..................... 832 6,325,673 2,157 6,323,516 6,291,178 32,338 5,949,572 5,949,625 376,101 373,891 5.91 .51 8.65

Utah....................... 55 575,975 210 575,765 572,426 3,339 541,571 541,572 34,404 34,193 5.94 .58 9.77

Vermont................ 69 268,619 558 268,061 259,826 8,235 241,149 241,149 27,470 26,912 10.04 3.07 30.60

Virginia................. 314 1,928,090 1,262 1,926,828 1,911,069 15,759 1,781,820 1,781,875 146,270 144,953 7.52 .82 10.87

Washington.......... 115 1,941,593 249 1,941,344 1,932,843 8,501 1,835,778 1,835,783 105,815 105,561 5.44 .44 8.05

West Virginia. . . . 175 1,013,382 471 1,012,911 1,004,490 8,421 936,665 936,685 76,717 76,226 7.53 .83 11.05

Wisconsin............. 541 3,075,443 267 3,075,710 3,064,333 11,377 2,889,408 2,889,607 186,035 186,103 6.05 .37 6 .1 1

Wyoming.............. 54 252,680 121 252,559 251,309 1,250 238,266 238,273 14,414 14,286 5.66 .49 8.75

1 Examiners’ deductions (net) is net of assets not on the books. Figures in italics represent excess of appraised value of assets over book value.

2 Includes 1 national bank in the Virgin Islands not a member of the Federal Reserve System.

3 Includes 3 national banks and 2 State banks in Alaska, and 1 State bank in Hawaii, not members of the Federal Reserve System.

EXAMINERS EVALUATION OF INSURED COMMERCIAL BAN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 111. 

Table 112. 

Table 113.

Table 114.

Table 115.

Table 116.

Table 117. 

Table 118. 

Table 119.

Earnings, expenses, and dividends of insured commercial banks, 1941-1949

Ratios of earnings, expenses, and dividends of insured commercial banks, 1941-1949

Earnings, expenses, and dividends of insured commercial banks, 1949 

By class of bank

Ratios of earnings, expenses, and dividends of insured commercial banks, 1949 

By class of bank

Earnings, expenses, and dividends of insured commercial banks operating throughout 1949

Banks grouped according to amount of deposits

Ratios of earnings, expenses, and dividends of insured commercial banks operating 

throughout 1949

Banks grouped according to amount of deposits

Earnings, expenses, and dividends of insured commercial banks, by State, 1949

Earnings, expenses, and dividends of insured mutual savings banks, 1941-1949

Ratios of earnings, expenses, and dividends of insured mutual savings banks, 

1941-1949

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 op I n s u r e d B a n k s

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Reports of earnings, expenses, and dividends are submitted to the 

Federal supervisory agencies on either a cash or an accrual basis.

Earnings data are included for all insured banks operating at the 

end of the respective years, unless indicated otherwise. In addition, 

appropriate adjustments have been made for banks in operation during 

part of the year but not at the end of the year.

On December 8, 1947, the Commissioner of Internal Revenue issued 

Comm. Mimeograph Coll. No. 6209 entitled, “ Reserve Method of 

Accounting for Bad Debts in the Case of Banks.” (See pp. 82-84 in 

the 1947 Annual Report). Under this ruling, banks are permitted to 

accumulate limited amounts of tax-free reserves for bad debt losses on 

loans. As a result, in 1948 and 1949 unusually large amounts were set 

aside from income to valuation reserves, and net profits were decreased 

accordingly. The uniform report of earnings and dividends for the 

calendar year 1948 was revised to show separately for the first time 

charge-offs and transfers to valuation reserves as well as recoveries 

and transfers from valuation reserves. Also, for the first time the actual 

recoveries and losses that are credited and charged to valuation reserves 

were reported as memoranda items. As of December 31, 1949, the 

reserve method of accounting for bad debt losses on loans as authorized 

by the Bureau of Internal Revenue had been adopted by 5,576, or 

42 percent, of the 13,429 insured commercial banks in the United States.

Averages of assets and liabilities shown in Tables 111-114 and 117- 

119 are based upon figures at the beginning, middle, and end of each 

year, as reported by banks operating on those dates. 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 115, and utilized for computation 

of ratios shown in Table 116, are for the identical banks to which the 

earnings data pertain. For national banks and State banks members 

of the Federal Reserve System, assets and liabilities are as of December 

31, 1949, and for other banks, are averages of beginning, middle, and 

end of the year.

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.

Ox

CDEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

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Federal Reserve Bank of St. Louis
T a b l e 1 1 1 . E a r n i n g s , E x p e n s e s , a n d D iv i d e n d s o f I n s u r e d C o m m e r c ia l B a n k s , 1 9 4 1 -1 9 4 9

(Amounts in thousands of dollars)

Earnings or expense item 1941 1942 1943 1944 1945 1946 1947 1948 1949

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

1,729,901

} 509,175

847,832

, w

139,698

233,196

1,790,692

610,298

804,717

12,084

| 84,309

1 55,148

100,652

123,484

1,959,481

861,412

692,305

13,513

95,332

67,533

104,710

124,676

2,214,905

1,090,253

680,708

17,320

107,375

78,485

112,486

128,278

2,482,278

/ 1,132,977

\ 167,198

707,738

18,860

109,789

90,617

120,317

134,782

2,862,875

1,218,517

176,620

936,554

14,564

124,696

97,995

140,340

153,589

3,097,670

1,079,535

179,408

1,263,788

18,386

147,761

97,264

144,734

166,794

3,403,586

1,008,138

189,559

1,577,633

22,315

173,791

97,456

156,678

178,016

3,606,879

1,013,515

201,691

1,733,690

26,090

194,013

95,420

160,430

182,030

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

21,215,766

211,311

302,627

13,151

190,256

374

2103,371

*64,414

330,262

1,222,157

219,388

333,171

11,541

174,674

336

97,085

39,917

346,045

1,256,025

225,142

356,958

11,775

163,900

502

99,915

40,008

357,825

1,356,680

240,354

386,346

12,907

186,773

1 ,1 1 2

97,307

41,845

390,036

1,522,778

266,018

424,881

14,610

233,321

2,448

98,683

40,329

442,488

1,762,634

309,220

521,709

16,936

268,624

2,364

96,314

40,850

506,617

1,981,787

344,845

602,266

18,954

298,274

2,656

103,516

42,276

569,000

2,163,514

381,756

662,696

20,859

316,570

3,432

106,163

48,271

623,767

2,283,727

410,685

700,065

22,608

328,010

3,582

113,569

53,988

651,219

Net current operating earnings....................... 2514,135 568,535 703,456 858,225 959,500 1,100,241 1,115,883 1,240,072 1,323,153

Recoveries, transfers from reserve accounts,

and profits— total..........................................

On securities:

Recoveries...........................................................

Transfers from reserve accounts...................

Profits on securities sold or redeemed.........

On loans:

Recoveries...........................................................

Transfers from reserve accounts...................

All other...................................................................

324,453

} 73,589

145,189

} 70,947

34,728

222,775

55,947

66,457

68,546

31,825

353,015

91,891

103,143

85,664

72,317

361,726

92,778

129,834

84,224

54,890

509,329

122,364

266,764

67,014

53,187

408,608

59,515

208,700

74,499

65,894

262,042

45,360

100,189

67,687

48,806

266,439

/ 29,221

\ 24,161

60,025

/ 39,748

\ 48,934

64,350

213,187

16,412

26,672

73,196

23,142

28,220

45,546

Losses, charge-offs, and transfers to reserve

accounts— total...............................................

On securities:

Losses and charge-offs......................................

Transfers to reserve accounts........................

On loans:

Losses and charge-offs......................................

Transfers to reserve accounts........................

All other...................................................................

333,966

} 161,073

} 103,868

69,025

271,118

120,614

80,647

69,857

290,645

116,383

75,223

99,039

265,881

110,439

70,090

85,352

264,122

132,870

55,901

75,351

283,175

132,254

71,253

79,668

294,286

118,498

120,370

55,418

485,753

/ 78,590

\ 40,941

/ 32,393

\ 278,666

55,163

379,824

38,671

33,044

29,064

221,167

57,878

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Net profits before income taxes....................... 2504,622 520,192 765,826 954,070 1,204,707 1,225,674 1,083,639 1,020,758 1,156,514

Taxes on net income— tota l.............................. 450,000 79,541 127,865 202,821 298,795 323,328 302,242 275,422 325,148

Federal..................................................................... 0) 0) 114,316 187,032 277,538 301,048 283,046 258,490 304,572

State ......................................................................... 0) 0) 13,549 15,789 21,257 22,280 19,196 16,932 20,576

Net profits after income taxes.......................... 454,622 440,651 637,961 751,249 905,912 902,346 781,397 745,336 831,364

Dividends and interest on capital— to ta l... 253,396 227,608 233,490 253,193 274,438 298,983 315,215 331,833 354,144

Dividends declared on preferred stock and

interest on capital notes and debentures.. . 17,563 14,523 14,324 13,645 11,769 8,345 5,981 5,230 5,093

Cash dividends declared on common stock.. . 235,833 213,085 219,166 239,548 262,669 290,638 309,234 326,603 349,052

Net additions to capital from profits........... 201,226 213,043 404,471 498,056 631,474 603,363 466,182 413,503 477,220

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities............................................................ V) 0) 0) 0) 0) 0 ) 0) 7,224 2,600

On loans................................................................... 0) 0) C1) 0) 0) (0 0) 10,844 19,645

Losses charged to reserve accounts (not included

in losses above):

On securities........................................................... (l) 0) 0) (1) (!) 0) C1) 18,031 6,104

On loans................................................................... 0) 0 ) 0) (!) 0) 0) 46,487 72,978

Average assets and liabilities5

Assets— tota l............................................................ 73,510,130 83,666,451 103,370,189 123,168,863 145,217,438 151,896,770 148,170,261 150,726,513 151,566,078

Cash and due from banks................................... 25,693,758 25,922,701 26,774,094 28,042,727 31,236,090 33,286,775 34,279,792 36,247,026 35,683,829

United States Government obligations........... 19,160,565 29,231,826 50,315,698 67,231,161 82,417,236 81,835,381 70,229,835 64,291,298 63,080,739

Other securities...................................................... 6,997,406 6,802,771 6,321,794 6,088,482 6,623,089 7,556,923 8,315,081 8,872,676 9,387,984

Loans and discounts............................................. 19,857,387 20,030,625 18,380,838 20,310,112 23,500,772 27,768,296 33,863,334 39,650,962 41,670,879

All other assets....................................................... 1,801,014 1,678,528 1,577,765 1,496,381 1,440,251 1,449,395 1,482,219 1,664,551 1,742,647

Liabilities and capital— total............................ 73,510,130 83,666,451 103,370,189 123,168,863 145,217,438 151,896,770 148,170,261 150,726,513 151,566,078

Total deposits......................................................... 66,168,797 76,134,514 95,506,221 114,682,390 135,948,387 141,829,678 137,537,907 139,517,461 139,764,394

Demand deposits................................................. 50,327,1+62 60,21+5,967 77,878,606 93,267,111+ 108,968,917 109,890,600 103,159,251+ 101+,195,063 103,862,159

Time and savings deposits................................ 15,8hi ,335 15,888,51+7 17,627,615 21,1+15,276 26,979,1+70 31,939,078 31+,378,653 35,322,398 35,902,235

Borrowings and other liabilities........................ 578,370 580,544 617,535 768,280 934,381 1,057,079 1,104,386 1,257,852 1,380,578

Total capital accounts......................................... 6,762,963 6,951,393 7,246,433 7,718,193 8,334,670 9,010,013 9,527,968 9,951,200 10,421,106

Number of active officers, December 3 1 ............. 57,067 54,925 55,309 56,494 59,119 62,697 65,740 67,609 69,439

Number of other employees, December 31........ 211,115 216,473 225,647 229,377 245,275 271,395 284,072 292,015 296,308

Number of banks, December 318.......................... 13,427 13,347 13,274 13,268 13,302 13,359 13,403 13,419 13,436

Note: Due to rounding, earnings data of State banks for 1949 may not add precisely to the indicated totals.

1 Not available.

2 Differs from reported figures as a result of the estimate made of taxes on net income. See footnote 4.

3 For banks not submitting reports to FDIC, consists of regular and extraordinary depreciation allowances on banking house, furniture and fixtures. For banks submitting

reports to FDIC, consists of regular depreciation allowances on banking house, furniture and fixtures plus other expenses of occupancy and maintenance of banking quarters.

4 Estimated; based upon Bureau of Internal Revenue figures of income taxes paid by all banks and trust companies for 1941. Banks submitting reports to the FDIC have

reported income taxes separately since 1936.

5 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

6 In 1941 excludes 3 trust companies not engaged in deposit banking, which submit reports to FDIC.

Back figures: See the Annual Report for 1941, pp. 158-159.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

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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 s e s , a n d D iv id e n d s o f In s u r e d C o m m e r c ia l B a n k s , 1941-1949

Earnings or expense item 1941 1942 1943 1944 1945 1946 1947 1948 1949

Amounts per $100 of current operating

earnings

Current operating earnings— total................ $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Interest on U. S. Government obligations. . .

Interest and dividends on other securities___

} 29.43 34.08 43.96 49.22 / 45.64

\ 6.74

42.56

6.17

34.85

5.79

29.62

5.57

28.10

5.59

Income on loans..................................................... 49.01 45.61 36.02 31.52 29.27 33.22 41.39 47.01 48.79

Service charges on deposit accounts................. ] f 4.71 4.87 4.85 4.42 4.36 4.77 5.11 5.38

Other service charges, commissions, fees, and

collection and exchange charges....................

| 8.08

[ 3.08 3.45 3.54 3.65 3.42 3.14 2.86 2.65

Other current operating earnings...................... 13.48 12.52 11.70 10.87 10.28 10.27 10.06 9.83 9.49

Current operating expenses— total................ 170.28 68.25 64.10 61.25 61.35 61.57 63.98 63.57 63.32

Salaries, wages, and fees..................................... 30.47 31.50 30.31 28.88 28.42 29.62 31.19 31.30 31.42

Interest on time and savings deposits............. 11.0 0 9.76 8.36 8.43 9.40 9.38 9.63 9.30 9.10

Taxes other than on net income........................ 15.98 5.42 5.10 4.39 3.98 3.36 3.34 3.12 3.15

Recurring depreciation on banking house,

furniture and fixtures....................................... 23.72 2.23 2.04 1.89 1.62 1.43 1.36 1.42 1.50

Other current operating expenses...................... 19.11 19.34 18.29 17.66 17.93 17.78 18.46 18.43 18.15

Net current operating earnings....................... 129.72 31.75 35.90 38.75 38.65 38.43 36.02 36.43 36.68

Am ounts per $100 of total assets*

Current operating earnings— total........................ 2.35 2.14 1.90 1.80 1.71 1.88 2.09 2.26 2.38

Current operating expenses— total........................ 11.65 1.46 1.22 1.10 1.05 1.16 1.34 1.44 1.51

Net current operating earnings.............................. i.70 .68 .68 .70 .66 .72 .75 .82 .87

Recoveries, transfers from reserve accounts,

and profits— total.................................................. .44 .26 .34 .29 .35 .27 .18 .18 .14

Losses, charge-offs, and transfers to reserve accounts— total.......................................................... .45 .32 .28 .22 .18 .18 .20 .32 .25

Net profits before income taxes............................. i.69 .62 .74 .77 .83 .81 .73 .68 .76

Net profits after income taxes................................ .62 .53 .62 .61 .62 .59 .53 .49 .55

Am ounts per $100 of total capital

accounts3

Net current operating earnings.............................. 17.60 8.18 9.71 1 1 .1 2 11.51 12 .2 1 11.71 12.46 12.70

Recoveries, transfers from reserve accounts,

and profits— total.................................................. 4.80 3.20 4.87 4.69 6 .1 1 4.53 2.75 2.68 2.04

Losses, charge-offs, and transfers to reserve

accounts— total...................................................... 4.93 3.90 4.01 3.45 3.16 3.14 3.09 4.88 3.64

Net profits before income taxes............................. 17.47 7.48 10.57 12.36 14.46 13.60 11.37 10.26 1 1 .10

Taxes on net income................................................. «.75 1.14 1.75 2.63 3.59 3.59 3.17 2.77 3.12

Net profits after income taxes................................ 6.72 6.34 8.82 9.73 10.87 10.01 8.20 7.49 7.98

Cash dividends declared........................................... 3.75 3.28 3.23 3.28 3.29 3.32 3.31 3.33 3.40

Net additions to capital from profits................... 2.97 3.06 5.59 6.45 7.58 6.69 4.89 4.16 4.58

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Special ratios*

Income on loans per $100 of loans........................

Income on securities per $100 of securities........

Service charges per $100 of demand deposits.. .

Interest paid per $100 of time and savings

deposits..................................................................

4.27

1.95

(5)

1.20

4.08

1.69

.14

1.10

3.85

1.52

.12

.93

3.44

1.49

.12

.87

3.09

1.46

.10

.87

3.43

1.56

.1 1

.84

3.79

1.60

.14

.87

4.04

1.64

.17

.90

4.22

1.68

.19

.91

Assets and liabilities per $100 of total

assets*

Assets— t o 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................................... 34.95 30.98 25.91 22.77 21.51 21.91 23.14 24.05 23.55 United States Government obligations........... 26.07 34.94 48.70 54.59 56.76 53.88 47.40 42.65 41.62 Other securities...................................................... 9.52 8.13 6 .1 1 4.94 4.56 4.98 5.61 5.89 6.19 Loans and discounts............................................. 27.01 23.94 17.75 16.49 16.18 18.28 22.85 26.31 27.49 All other assets....................................................... 2.45 2.01 1.53 1 .2 1 .99 .95 1.00 1.10 1.15

Liab ilitie s an d capital— to ta l..................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total deposits....................................................... 90.01 91.00 92.39 93.11 93.62 93.37 92.82 92.56 92.21 Demand deposits............................................... 6846 72.01 75.89 75.72 75.0 U 72.8 k 69.62 69.18 68.52 Time and savings deposits................................ 21.55 18.99 17.00 17.89 18.58 21.08 28.20 28.US 28.69 Borrowings and other liabilities........................ .79 .69 .60 .62 .64 .70 .75 .84 .91 Total capital accounts......................................... 9.20 8.31 7.01 6.27 5.74 5.93 6.43 6.60 6.88

Number of banks, December 31®.......................... 13,427 13,347 13,274 13,268 13,302 13,359 13,403 13,419 13,436

1 Differs from reported figures as a result of the estimate made of taxes on net income. See footnote 4 .

2 For banks not submitting reports to FDIC, consists of regular and extraordinary depreciation allowances on banking house, furniture and fixtures. For banks submitting

reports to FDIC, consists of regular depreciation allowances on banking house, furniture and fixtures plus other expenses of occupancy and maintenance of banking quarters.

3 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

4 Estimated; based upon Bureau of Internal Revenue figures of income taxes paid by all banks and trust companies for 1941. Banks submitting reports to the FDIC have

reported income taxes separately since 1936.

6 Not available.

• In 1941, excludes 3 trust companies not engaged in deposit banking, which submit reports to FDIC.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

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Federal Reserve Bank of St. Louis
BY CLASS OF BANK

Table 113. 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 , 1949

(Amounts in thousands of dollars)

Members F. R. System Not

members

F. R.

System

Operating

throughout

the year

Operating

less than

full year1

Earnings or expense item Total

National State

C u rren t operating earnings— to ta l.................................................... 3,606,879 1,998,439 986,745 621,695 3,591,168 15,711

Interest on United States Government obligations.......................................... 1,013,515 580,156 278,807 154,552 1,010,333 3,183

Interest and dividends on other securities.......................................................... 201,691 117,471 51,000 33,220 200,978 713

Interest and discount on loans............................................................................... 1,733,690 966,087 439,396 328,207 1,727,556 6,134

Service charges and fees on bank’s loans............................................................. 26,090 14,254 7,178 4,658 25,922 168

Service charges on deposit accounts......................................................................

Other service charges, commissions, fees, and collection and exchange

194,013 109,174 48,782 36,057 193,354 660

charges...................................................................................................................... 95,420 41,763 22,728 30,929 95,147 274

Trust department...................................................................................................... 160,430 60,340 91,041 9,049 156,780 3,650

Other current operating earnings.......................................................................... 182,030 109,194 47,812 25,024 181,100 931

Current operating expenses— to ta l.................................................... 2,283,727 1,244,144 644,414 395,169 2,272,155 11,573

Salaries— officers......................................................................................................... 410,685 211,057 107,075 92,553 408,436 2,250

Salaries and wages— employees..............................................................................

Fees paid to directors and members of executive, discount, and other

700,065 386,939 220,953 92,173 696,642 3,423

committees.............................................................................................................. 22,608 10,804 5,258 6,546 22,520 88

Interest on time and savings deposits.................................................................. 328,010 183,057 77,853 67,100 326,609 1,401

Interest and discount on borrowed money......................................................... 3,582 1,687 1,649 246 3,572 11

Taxes other than on net income............................................................................ 113,569 65,568 30,705 17,296 113,245 324

Recurring depreciation on banking house, furniture and fixtures................. 53,988 30,550 13,347 10,091 53,822 167

Other current operating expenses.......................................................................... 651,219 354,482 187,572 109,165 647,310 3,909

Net current operating e a rn in gs........................................................ 1,323,153 754,295 342,331 226,527 1,319,014 4,138

Recoveries, transfers from reserve accounts, and profits— to ta l........

On securities:

213,187 117,347 65,114 30,726 209,002 4,185

Recoveries..................................................... 16.412 6.136

15',44 5

40,116

7.308 2.968 15,628 784

Transfers from reserve accounts........................................................................ 26,672

73,196

6,SU

23,817

41383

9,263

26,672

Profits on securities sold or redeemed.............................................................. 72,333

On loans:

863

Recoveries................................................................................................................ 23,142 13,430 4,695 5,017 23,007 133

Transfers from reserve accounts........................................................................ 28,220 11,463 13,455 3,302 28,156

43,205

64

All other....................................................................................................................... 45,546 30,757 8,996 5,793 2,341

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Losses, charge-offs, and transfers to reserve accounts— total................

On securities:

Losses and charge-offs..........................................................................................

Transfers to reserve accounts............................................................................

On loans:

Losses and charge-offs..........................................................................................

Transfers to reserve accounts............................................................................

All other.......................................................................................................................

Net profits before income taxes...........................................................................

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

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities................................................................................................................

On loans.......................................................................................................................

Losses charged to reserve accounts (not included in losses above):

On securities................................................................................................................

On loans.......................................................................................................................

Average assets and liabilities2 

Assets— total.................................................................................................................

Cash and due from banks.......................................................................................

United States Government obligations...............................................................

Other securities..........................................................................................................

Loans and discounts.................................................................................................

All other assets...........................................................................................................

Liabilities and capital— total................................................................................

Total deposits.............................................................................................................

Demand deposits.....................................................................................................

Time and savings deposits....................................................................................

Borrowings and other liabilities............................................................................

Total capital accounts.............................................................................................

Number of active officers, December 31 .................................................................

Number of other employees, December 31............................................................

Number of banks, December 31................................................................................

379,824

38,671

33,044

29,064

221,167

57,878

1,156,514

325,148

304,572

20,576

831,364

354,144

5,093

349,052

477,220

204,656

21,248

18,310

14,201

122,033

28,864

666,986

193,428

182,425

11,003

473,558

204,253

1,097

203,156

269,305

113,202

9,601

9,693

4,951

69,215

19,742

294,243

81,638

74,644

6,994

212,605

108,413

2,391

106,022

104,192

61,966

7,822

5,041

9,912

29,919

9,272

195,285

50,082

47,503

2,579

145,201

41,478

1,605

39,874

103,723

376,639

37,996

33,043

28,723

219,668

57,210

1,151,377

323,829

303,366

20,463

827,546

353,168

5,067

348,102

474,378

3,187

6761

341

1,499

669

5,137

1,319

1,207

113

3,818

976

26

949

2,842

2,600

19,645

6,104

72,978

1,380

12,828

2,338

44,919

1,019

4,684

2,806

16,936

201

2,133

960

11,123

2,600

19,582

6,104

71,988

63

’ 990

151,566,078

35,683,829

63,080,739

9,387,984

41,670,879

1,742,647

87,575,158

21,430,969

36,166,834

5,565,035

23,369,905

1,042,415

43,434,107

10,547,673

17,878,564

2,281,463

12,208,771

517,636

20,556,813

3,705,187

9,035,341

1,541,486

6,092,203

182,596

151,566,078

139,764,394

103,862,159

85,902,235

1,380,578

10,421,106

87,575,158

80,912,920

61,077,962

19,83^,958

865,072

5,797,166

43,434,107

39,813,217

30,1+53,985

9,359,232

420,627

3,200,263

20,556,813

19,038,257

12,330,212

6,708,01+5

94,879

1,423,677

69,439

296,308

33,195

161,538

14,248

88,811

21,996

45,959

13,436 4,975 1,914 6,547

69,125

295,376

13,356

314

932

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 Includes banks operating less than full year and trust companies not engaged in deposit banking.

2 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures: See Table 111, p. 160. See also the Annual Report for 1948, pp. 112-113, and earlier reports.

Oi

Oi EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 114. R a t io s o p 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 , 1949

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

$100.00 $100.00 $100.00 $100.00

Interest on United States Government obligations...................................................................................... 28.10 29.03 28.26 24.86

Interest and dividends on other securities...................................................................................................... 5.59 5.88 5.17 5.34

Income on loans...................................................................................................................................................... 48.79 49.06 45.26 53.54

Service charges on deposit accounts ......... ........................................................................................ 5.38 5.46 4.94 5.80

Other service charges, commissions, fees, and collection and exchange charges................................... 2.65 2.09 2.30 4.98

Other current operating earnings .................................................................................................................. 9.49 8.48 14.07 5.48

Current operating expenses— total . . .......................................................................................... 63.32 62.26 65.31 63.56

Salaries, wages, and fees...................................................................................................................................... 31.42 30.47 33.78 30.77

Interest on time and savings deposits.............................................................................................................. 9.10 9.16 7.89 10.79

Taxes other than on net income........................................................................................................................ 3.15 3.28 3.11 2.78

Recurring depreciation on banking house, furniture and fixtures............................................................. 1.50 1.53 1.35 1.62

Other current operating expenses...................................................................................................................... 18.15 17.82 19.18 17.60

Net current operating earn in g s...................................................................................................................... 36.68 37.74 34.69 36.44

Am ounts per $100 of total assets1 

Current operating earnings— total......................................................................................................................... 2.38 2.28 2.27 3.02

Current operating expenses— total........................................................................................................................ 1.51 1.42 1.48 1.92

Net current operating earnings............................................................................................................................... .87 .86 .79 1.10

Recoveries transfers from reserve accounts, and profits— total................................................................... .14 .13 .15 .15

Losses charge-offs and transfers to reserve accounts— total.................................... ................................... .25 .23 .26 .30

.76 .76 .68 .95

Net profits after income tax^................................................................................................................................. .55 .54 .49 .71

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

(2) (2) (2) (2)

.01 .01 .01 .01

Losses charged to reserve accounts (not included in losses above):

(2) (2) .01 (2)

.05 .05 .04 .05

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Am ounts per $100 of total capital accounts1

Net current operating earnings........................................................................................................... 12.70 13.01 10.70 15.91 Recoveries, transfers from reserve accounts, and profits— total................................................................... 2.04 2.03 2.03 2.16 Losses, charge-offs, and transfers to reserve accounts— total........................................................................ 3.64 3.53 3.54 4.35 Net profits before income taxes..................................................................................................................... 1 1 .1 0 11.51 9.19 13.72 Taxes on net income........................................................................................................................................... 3.12 3.34 2.55 3.52 Net profits after income taxes.......................................................................................................................... 7.98 8.17 6.64 10.20 Cash dividends declared..................................................................................................................................... 3.40 3.52 3.39 2 91 Net additions to capital from profits.................................................................................................................... 4.58 4.65 3.25 7.29

Memoranda

Recoveries credited to reserve accounts (not included in recoveries above):

On securities............................................................................................................................................................ .02 .02 .03 .01 On loans................................................................................................................................................ .19 .22 .15 Losses charged to reserve accounts (not included in losses above): .10

On securities............................................................................................................................................................ .06 .04 .09 .07 On loans............................................................................................................................................................. .70 .77 .53 7 a

Special ratios1

. IO

Income on loans per $100 of loans........................................................................................................................ 4.22 4.19 3.66 5.46 Income on securities per $100 of securities......................................................................................................... 1.68 1.67 1.64 1.78 Service charges per $100 of demand deposits..................................................................................................... .19 .18 .16 .29 Interest paid per $100 of time and savings deposits........................................................................................ .91 .92 .83 1.00

Assets and liabilities per $100 of total assets1

Assets— tota l............................................................................................................................................................. 100.00 100.00 100.00 100.00 Cash and due from banks................................................................................................................................... 23.55 24.47 24.29 18.02 United States Government obligations............................................................................................................ 41.62 41.30 41.16 43.95 Other securities.................................................................................................................................................. 6.19 6.35 5.25 7.50 Loans and discounts.............................................................................................................................................. 27.49 26.69 28.11 29.64 All other assets....................................................................................................................................................... 1.15 1.19 1.19 .89

Liabilities and capital— total............................................................................................................................ 100.00 100.00 100.00 100.00 Total deposits......................................................................................................................................................... 92.21 92.39 91.66 92.61 Demand deposits................................................................................................................................................. 68.52 69.71* 70.11 59.98 Time and savings deposits................................................................................................................................. 23.69 22.65 21.55 32.63 Borrowings and other liabilities......................................................................................................................... .91 .99 .97 46 Total capital accounts.......................................................................................................................................... 6.88 6.62 7.37 6^93

Number of banks, December 31...................................................................................................................... 13,436 4,975 1,914 6,547

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

2 Less than .005.

Back figures: See Table 112, p. 162. See also the Annual Report for 1948, pp. 114-115, and earlier reports.

EARNINGS. EXPENSES, AND DIVIDENDS OF INSURED B AN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 115. 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 1949

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Banks with deposits of— 2

Earnings or expense item

All

banks1

$500,000

or

less

$500,000

to

$1 ,000,000

$1 ,000,000

to

$2 ,000,000

$2 ,000,000

to

$5,000,000

$5,000,000

to

$10,000,000

$10 ,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

More than

$100,000,000

Current operating earnings— total............................... 3,591,168 8,487 51,290

(Amount!

155,411

3 in thousand

395,979

s of dollars)

360,650 672,509 275,172 1,671,672

Interest on United States Government obligations. . . 1,010,333 1,571 12,317 40,636 106,668 97,734 190,620 77,765 483,021

Interest and dividends on other securities..................... 200,978 249 1,952 7,394 23,086 22,019 38,444 12,733 95,101

Interest and discount on loans......................................... 1,727,556 5,187 29,510 85,682 212,704 187,158 320,093 126,922 760,300

Service charges and fees on bank’s loans....................... 25,922 72 355 691 1,858 2,304 4,093 1,984 14,567

Service charges on deposit accounts................................ 193,354 426 2,648 8,553 23,401 24,996 48,097 16,200 69,033

Other service charges, commissions, fees, and collection and exchange charges........................................ 95,147 777 3,539 8,952 16,272 11,039 16,925 5,873 31,770

Trust department................................................................. 156,780 14 25 185 1,519 3,748 20,634 13,643 117,012

Other current operating earnings..................................... 181,100 191 943 3,317 10,471 11,653 33,603 20,053 100,868

Current operating expenses— total............................... 2,272,155 5,413 31,173 93,076 243,401 228,252 444,458 187,095 1,039,288

Salaries— officers................................................................... 408,436 2,300 11,805 30,232 64,580 48,633 77,180 29,194 144,512

Salaries and wages— employees........................................ 696,642 654 4,123 15,033 48,884 56,275 129,412 61,948 380,314

Fees paid to directors and members of executive,

discount, and other committees................................... 22,520 122 760 2,319 5,492 3,822 4,777 1,336 3,893

Interest on time and savings deposits............................ 326,609 408 3,873 14,222 42,775 41,081 73,240 23,428 127,585

Interest and discount on borrowed money.................... 3,572 7 34 92 214 128 296 157 2,647

Taxes other than on net income....................................... 113,245 269 1,424 4,431 12,139 11,278 22,370 8,977 52,356

Recurring depreciation on banking house, furniture

and fixtures........................................................................ 53,822 116 772 2,480 7,157 6,848 12,390 5,143 18,914

Other current operating expenses..................................... 647,310 1,538 8,384 24,267 62,160 60,187 124,794 56,912 309,068

Net current operating earnings...................................... 1,319,014 3,075 20,118 62,335 152,580 132,398 228,051 88,077 632,383

Recoveries, transfers from reserve accounts, and

profits— tota l.................................................................. 209,002 326 1,634 4,458 13,715 14,642 36,578 21,628 116,021

On securities:

Recoveries.......................................................................... 15,628 13 114 388 1,357 2,250 3,802 2,982 4,720

Transfers from reserve accounts.................................. 26,672

72,333

15 134 474 515 2,395

14,900

3,725

7,973

19,417

Profits on securities sold or redeemed........................ 40 334 1,029 4,081 4,893 39,085

On loans:

Recoveries.......................................................................... 23,007 149 783 1,743 3,974 3,042 4,681 1,670 6,966

Transfers from reserve accounts.................................. 28,156 8 67 214 1,170 1,381 3,137 1,690 20,491

All other.................................................................................. 43,205 117 323 952 2,661 2,562 7,662 3,588 25,342

Losses, charge-offs, and transfers to reserve accounts— total.................................................................. 376,639 704 3,908 12,278 35,596 35,515 71,341 31,195 186,102

On securities:

Losses and charge-offs..................................................... 37,996 43 417 1,618 5,146 5,649 9,029 5,118 10,975

Transfers to reserve accounts....................................... 33,043 15 69 336 1,079 1,202 5,065 1,782 23,495

On loans:

Losses and charge-offs..................................................... 28,723 363 1,865 4,292 7,777 4,601 4,514 1,394 3,917

Transfers to reserve accounts....................................... 219,668 116 910 4,224 15,563 18,410 41,831 18,182 120,435

All other.................................................................................. 57,210 166 647 1,808 6,033 5,652 10,902 4,719 27,280

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

1,151,377 2,696 17,843 54,516 130,699 111,525 193,287 78,510 562,302

323,829

303,366

20,463

516

482

34

3,420

3,199

221

10,991

10,312

679

31,186

29,786

1,401

31,722

30,546

1,177

57,410

55,025

2,385

23,115

21,928

1,187

165,468

152,088

13,380

827,546 2,180 14,424 43,525 99,512 79,803 135,875 55,395 396,834

353,168

5,067

348,102

622

10

612

3,781

54

3,727

11,532

169

11,363

29,333

625

28,708

24,197

528

23,670

48,553

1,289

47,262

21,094

1,164

19,930

214,058

1,227

212,830

474,378 1,559 10,642 31,993 70,179 55,605 87,323 34,302 182,776

Memoranda

Recoveries credited to reserve accounts (not included in

recoveries above):

On securities...................................................

On loans.........................................................

Losses charged to reserve accounts (not included in

losses above):

On securities..........................................................................

On loans.............................................................

2,600

19,582

6,104

71,988

15

1

61

4

95

8

382

23

375

114

1,539

115

1 ,2 1 1

174

5,450

95

1,605

267

7,087

285

2,942

744

13,186

40

1,408

572

5,878

2,038

11,930

4,225

38,404

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

154,726,757

35,001,276

65,786,329

9,932,163

42,241,278

1,765,711

240,037

65,686

85,318

9,447

77,867

1,719

1,604,103

355,138

665,907

82,433

491,402

9,223

5,226,692

1,115,023

2,246,036

313,657

1,519,100

32,876

14,149,805

2,939,228

6,048,120

1,063,065

3,995,545

103,847

13,380,189

2,711,942

5,810,097

1,105,707

3,634,151

118,292

26,885,271

5,667,569

12,108,524

1,996,949

6,805,992

306,237

11,833,949

2,657,739

5,225,050

713,119

3,081,187

156,854

81,406,711

19,488,951

33,597,277

4,647,786

22,636,034

1,036,663

154,726,757

142,690,649

106,898,61*8

35,792,001

1,472,034

10,564,074

240,037

213,985

177,513

86,1*72

720

25,332

1,604,103

1,464,664

1,106,1*91

358,178

3,769

135,670

5,226,692

4,820,151

3,1*1*8,372

1,371,779

10,375

396,166

14,149,805

13,109,706

8,852,897

1*,256,809

36,478

1,003,621

13,380,189

12,435,824

8,01*9,71*7

1*,386,077

48,774

895,591

26,885,271

25,040,273

16,61*8,591*

8,391,679

139,424

1,705,574

11,833,949

11,019,124

8,090,1*81*

2,928,61*0

88,430

726,395

81,406,711

74,586,922

60,521*,550

11*,062,372

1,144,064

5,675,725

Number of active officers, December 31 ...........................

Number of other employees, December 31.......................

69,125

295,376

1,073

603

4,388

3,186

9,050

9,638

15,358

26,646

9,243

27,425

11,329

58,892

3,593

26,647

15,091

142,339

Number of banks, December 31.......................................... 13,356 563 1,918 3,290 4,175 1,797 1,272 160 181

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 This group of banks is the same as the group shown in Table 113 under the heading “ Operating throughout the year.”

2 Deposits are as of December 31, 1949.

» 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. 1949.

for banks not submitting reports to FDIC. h-*

Back figures: See the Annual Report for 1948, pp. 116-117, and earlier reports. §

EARNINGS. EXPENSES, AND DIVIDENDS OF INSURED BAN K S

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Federal Reserve Bank of St. Louis
Table 116. R a t io s o f E a r n in g s , E x p e n s e s , a n d D iv id e n d s o f I n s u r e d C o m m e r c ia l B a n k s O p e r a t in g T h r o u g h o u t 1949

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Banks with deposits of— 2

Earnings or expense item

All

banks1

$500,000

or

less

$500,000

to

$1 ,000,000

$1 ,000,000

to

$2 ,000,000

$2 ,000,000

to

$5,000,000

$5,000,000

to

$10 ,000,000

$10 ,000,000

to

$50,000,000

$50,000,000

to

$100,000,000

More than

$100,000,000

Amounts per $100 of current operating

earnings

Current operating earnings— total............................... $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Interest on United States Government obligations. . . 28.13 18.51 24.01 26.15 26.94 27.10 28.34 28.26 28.90

Interest and dividends on other securities..................... 5.60 2.93 3.81 4.76 5.83 6 .1 1 5.72 4.63 5.69

Income on loans.................................................................... 48.83 61.96 58.23 55.58 54.18 52.53 48.21 46.85 46.35

Service charges on deposit accounts................................ 5.38 5.02 5.16 5.50 5.91 6.93 7.15 5.89 4.13

Other service charges, commissions, fees, and collection and exchange charges........................................ 2.65 9.16 6.90 5.76 4.11 3.06 2.52 2.13 1.90

Other current operating earnings..................................... 9.41 2.42 1.89 2.25 3.03 4.27 8.06 12.24 13.03

Current operating expenses— total............................... 63.27 63.77 60.78 59.89 61.47 63.29 66.09 67.99 62.17

Salaries, wages, and fees.................................................... 31.40 36.24 32.54 30.62 30.04 30.15 31.43 33.61 31.63

Interest on time and savings deposits............................ 9.09 4.80 7.55 9.15 10.80 11.39 10.89 8.51 7.63

Taxes other than on net income....................................... 3.15 3.17 2.78 2.85 3.07 3.13 3.33 3.26 3.13

Recurring depreciation on banking house, furniture

and fixtures........................................................................ 1.50 1.36 1.50 1.60 1.81 1.90 1.84 1.87 1.13

Other current operating expenses..................................... 18.13 18.20 16.41 15.67 15.75 16.72 18.60 20.74 18.65

Net current operating earnings...................................... 36.73 36.23 39.22 40.11 38.53 36.71 33.91 32.01 37.83

Amounts per $100 of total assets3

Current operating earnings— total....................................... 2.32 3.54 3.20 2.97 2.80 2.70 2.50 2.32 2.05

Current operating expenses— total....................................... 1.47 2.26 1.94 1.78 1.72 1.71 1.65 1.58 1.27

Net current operating earnings............................................. .85 1.28 1.26 1.19 1.08 .99 .85 .74 .78

Recoveries, transfers from reserve accounts, and

profits— total..................................................................... .13 .14 .10 .09 .10 .1 1 .14 .18 .14

Losses, charge-offs, and transfers to reserve accounts—

.24 .29 .25 .24 .25 .27 .27 .26 .23

Net profits before income taxes............................................ .74 1.13 1 .1 1 1.04 .93 .83 .72 .66 .69

Net profits after income taxes............................................... .53 .91 .90 .83 .70 .60 .51 .47 .49

Memoranda

Recoveries credited to reserve accounts (not included

in recoveries above):

On securities............................................ ........................... w (4) (4) (4) (4) (4)

.01

(4)

.01

(4)

.01 .01 .01 .01 .01 .01 .01

Losses charged to reserve accounts (not included in

losses above):

(4) (4) (4) (4) .01 (4) (4) (4) (4)

.05 .03 .02 .03 .04 .05 .05 .05 .05

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Am ounts per $100 of total capital accounts3

Net current operating earnings............................................

Recoveries, transfers from reserve accounts, and

profits— total.....................................................................

Losses, charge-offs, and transfers to reserve accounts—

total..................................................................

Net profits before income taxes............................................

Taxes on net income................................................................

Net profits after income taxes..............................................

Cash dividends declared.........................................................

Net additions to capital from profits................................

12.49

1.98

3.57

10.90

3.07

7.83

3.34

4.49

12.14

1.28

2.78

10.64

2.04

8.60

2.45

6.15

14.83

1.20

2.88

13.15

2.52

10.63

2.79

7.84

15.73

1.13

3.10

13.76

2.77

10.99

2.91

8.08

15.20

1.37

3.55

13.02

3.11

9.91

2.92

6.99

14.78

1.63

3.96

12.45

3.54

8.91

2.70

6.21

13.37

2.14

4.18

11.33

3.36

7.97

2.85

5.12

12 .12

2.98

4.29

10.81

3.18

7.63

2.91

4.72

11.14

2.04

3.27

9.91

2.92

6.99

3.77

3.22

Memoranda

Recoveries credited to reserve accounts (not included

in recoveries above):

On securities.......................................................... .02

.19

(4)

.07

.01

.09

.01

.12

.01

.18

.02

.17

.01

.19

.04 On loans................................................................. .06 .21 Losses charged to reserve accounts (not included in

losses above):

On securities........................................................................ .06 (4) .01 .03 .02 .03 .04 .08 .07 On loans............................................................................... .68 .24 .28 .39 .54 .79 .77 .81 .68

Special ratios3

Income on loans per $100 of loans...................................... 4.15 6.75 6.08 5.69 5.37 5.21 4.76 4.18 3.42

Income on securities per $100 of securities....................... 1.60 1.92 1.91 1.88 1.82 1.73 1.62 1.52 1.51

Service charges per $100 of demand deposits................... .18 .24 .24 .25 .26 .31 .29 .20 .1 1 Interest paid per $100 of time and savings deposits. . . . .91 1 .1 2 1.08 1.04 1.00 .94 .87 .80 .91

Assets and liabilities per $100 of total

assets3

Assets— total........................................................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Cash and due from banks.................................................. 22.62 27.36 22.14 21.33 20.77 20.27 21.08 22.46 23.94

United States Government obligations.......................... 42.52 35.54 41.51 42.97 42.75 43.42 45.04 44.15 41.27 Other securities..................................................................... 6.42 3.94 5.14 6.00 7.51 8.26 7.43 6.03 5.71

Loans and discounts............................................................ 27.30 32.44 30.63 29.07 28.24 27.16 25.31 26.04 27.81 All other assets..................................................................... 1.14 .72 .58 .63 .73 .89 1.14 1.32 1.27

Liabilities and capital— total.......................................... 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00

Total deposits........................................................................ 92.22 89.15 91.31 92.22 92.65 92.94 93.14 93.11 91.62 Demand deposits.............................................................. 69.09 73.95 68.98 65.98 62.57 60.16 61.93 68.36 7U.35 Time and savings deposits............................................... 23.13 15.20 22.33 26.:2U 30.08 32.78 31.21 2^.75 17.27 Borrowings and other liabilities....................................... .95 .30 .23 .20 .26 .37 .52 .75 1.41 Total capital accounts........................................................ 6.83 10.55 8.46 7.58 7.09 6.69 6.34 6.14 6.97

Number of banks, December 31.......................................... 13,356 563 1,918 3,290 4,175 1,797 1,272 160 181

1 This group of banks is the same as the group shown in Table 113 under the heading “ Operating throughout the year.” These ratios differ slightly from the ratios for all

insured commercial banks shown in Tables 112 and 114.

2 Deposits are as of December 31, 1949.

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, 1949,

for banks not submitting reports to FDIC.

4 Less than .005.

Back figures: See the Annual Report for 1948, pp. 118-119, and earlier reports

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 117. 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 , b y S t a t e , 1949

(Amounts in thousands of dollars)

Earnings or expense item U. S.and

possessions

Possessions United States Alabama Arizona Arkansas California Colorado Connecticut Delaware

C urren t operating earnings— to ta l........... 3,606,879 1,837 3,605,042 35,165 14,354 21,382 399,263 27,412 41,377 12,103

Interest on United States Government

obligations......................................................... 1,013,515 371 1,013,144 7,026 2,259 4,826 84,673 7,726 10,305 2,953

Interest and dividends on other securities.. . 201,691 44 201,647 2,283 546 1,519 17,373

233,061

1,003 1,919 759

Interest and discount on loans........................ 1,733,690 858 1,732,832 19,741 8,772 10,476 13,643 18,944 5,600

Service charges and fees on bank's loans. . . 26,090 41 26,049 318 318 06 4,678

24,613

123 1 1 1 64

Service charges on deposit accounts............... 194,013 50 193,963 2,006 1,126 1,401 2,517 2,969 263

Other service charges, commissions, fees, and

collection and exchange charges................. 95,420 405 95,015 1,699 275 2,063 6,003 579 571 115

160,430

182,030

160,430 683 263 169 11,750 857 3,949 2,043

Other current operating earnings.................... 69 181,961 1,408 796 862 17,113 963 2,610 307

C urren t operating expenses— to ta l.......... 2,283,727 1,165 2,282,562 20,019 9,987 12,226 250,760 16,130 28,145 6,706

Salaries— officers.................................................. 410,685 235 410,450 4,552 1,606 3,467 34,064 3,435 5,557 1,542

Salaries and wages— employees....................... 700,065 401 699,664 5,609 3,546 2,929 80,553 4,985 8,639 1,921

Fees paid to directors and members of

executive, discount, and other committees 22,608 27 22,581

327,834

244 32 280 688 239 309 150

Interest on time and savings deposits........... 328,010 176 2,516 860 836 64,402 1,903 3,627 551

Interest and discount on borrowed money. .

Taxes other than on net income. ....................

3,582

113,569 20

3,582

113,549

15

414 289

5

533

49

10,189

15

361

24

1,075

5

189

Recurring depreciation on banking house,

furniture and fixtures..................................... 53,988 32 53,956 552 330 294 5,051 377 874 194

Other current operating expenses................... 651,219 273 650,946 6,116 3,324 3,880 55,764 4,816 8,040 2,156

N et current operating e a rn in gs ............... 1,323,153 672 1,322,481 15,147 4,367 9,156 148,503 11,283 13,232 5,397

Recoveries, transfers from reserve accounts, and profits— to ta l................. 213,187 53 213,134 1,167 372 955 14,183 1,075 2,072 337

On securities:

Recoveries......................................................... 16,412 11 16,401 20 4 31 422 249 94 7

Transfers from reserve accounts . ......... 26,672

73,196

26,672

73,176

13 1 85 2,317 15 190 26

Profits on securities sold or redeemed. . . . 20 226 132 385 4,887 270 793 138

On loans:

23,142 16 23,126 260 25 199 1,248 274 427 43

Transfers from reserve accounts ............... 28,220

45,546

28,220

45,541

55 2 36 1,044 102 79 1 1

5 593 208 219 4,265 165 490 112

Losses, charge-offs, an d transfers to reserve accounts— to t a l........................ 379,824 191 379,633 3,943 911 1,963 32,877 2,102 4,402 485

On securities:

Losses and charge-offs.................................... 38,671 5 38,666 272 6 254 1,337 220 302 71

Transfers to reserve accounts......................

On loans:

Lossses and charge-offs................................

33,044

29,064 30

33,044

29,034

12

760

42

16

140

680

5,904

821 515

152

65

15

113

Transfers to reserve accounts...................... 221,167 132 221,035 2,226 724 508 20,552 1,135 2,708 227

57,878 23 57,855 674 123 382 4,262 232 1,176 59

Net profits before incom e taxes................ 1,156,514 534 1,155,980 12,371 3,828 8,148 129,809 10,256 10,901 5,249

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Taxes on net incom e— to t a l............................ 325,148 181

175

5

324,967 4,046 Q aoq

1,371

1,240

131

2,061

2,058

3

42,896 QQ -1 QQ 3,307

o Q7n

3,418

3,010

409

1 788 Federal. ................................................ 304,572

20,576

1*788 State....................................................................... 20,571 617

ov ,ioy

3,707

6,0 1 U

437

Net profits after incom e taxes.................. 831,364 353 831,011 8,325 2,456 6,087 86,913 6,949 7,484 3,461

Dividends and interest on capital— to ta l..

Dividends declared on preferred stock and

interest on capital notes and debentures..

Cash dividends declared on common stock..

354,144

5,093

349,052

101

3

98

354,043

5,090

348,954

2,938

3

2,935

858

21

837

1,859

14

1,845

41,973

374

41,600

2,007

3

2,004

3,559

11

3,549

1.840

1

1.840

Net additions to capital from p ro fits ....... 477,220 252 476,968 5,387 1,599 4,228 44,940 4,942 3,924 1,621

M em oran d a

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities......................................................... 2,600

19,645

6,104

72,978

2,600 9

136

33

673

2 552

2,214

1,240

12 149

17

1 Q1

12 On loans.................................................... 7 1 nn QQ 1

Losses charged to reserve accounts (not included in losses above):

On securities................................................... 6,104

72,891

1 UU

64

838

OO loi

1

lol

13

aa 9

IV

I

On loans........................................................ 87 135 oou OOU 1 3a

Average assets and liabilities1

Assets— to ta l............................................

Cash and due from banks.................................

151,566,078

35,683,829

63,080,739

9,387,984

41,670,879

1,742,647

49,197

12,365

21,401

2,773

12,163

495

151,516,881

35,671,464

63,059,338

9,385,211

41,658,716

1,742,152

1,291,391

335,458

458,446

111,712

371,744

14 031

440,333

84,994

151,722 9Q Afift

827,753 O/iq son 13,861,877

9 fiflQ fVSQ

1,155,464

Q11 Afi 7

1,425,542 QAQ OOQ 487,622 QQ 99Q

United States Government obligations. . .

Other securities.............................................

CiHcO ,Oli\j

313,501

63,721

909 1

Li ,OUi7 ,1/00

5,334,899

808,764 A Q99 Q19

Oil,DO i

514,075

48,797

274,102

6,823

Ol/l/ yOLtl7

623,128

106,320

366,514

19,751

UU yULdU

210,959

36,253 Loans and discounts.............................. 1 n&9

^i7,OUo

All other assets........................................ ID I ,4UO

AHA

<£Uj£,100 QiyO UU yOLti

1 ftfi ft1 Q

lOO ,UOL*

o,ouo 4,oOO lou,ol*7 K AQQ

Liab ilities and capital— to ta l.............. 151,566,078

139,764,394

103,862,159

35,902,235

1,380,578

10,421,106

49,197

46,320

26,50k

19,816

94

2,783

151,516,881

139,718,074

103,835,655

35,882,^19

1,380,484

10,418,323

1,291,391

1 iqq K7Q

440,333

A1 K Q9A

827 753 1 % fZAI 877 1 ICC AAA 1 425 542 487,622 Total deposits.................................... 774,164 A<\A 07A

676,728

97,U36

1,792

51,797

10)001)0/ /

12,963,273

7,181,988

5,781,285

156,028

742,576

1 ) 1

1,083,460

863,782

219,678

4,245

67,759

1’,307’,996

9U,709

363,287

7,509

110,037

Demand deposits..................................

JL y XUV yO I «7

9^2,038

957 hi

OfiQ nVQ

Time and savings deposits...........

al O jifoO

98,965

3,935 Ofi A 7ft

O VO yU ( O QQO

Borrowings and other liabilities................

Total capital accounts....................

&0 / yO J+JL

7,095

84,717

O O yO 4/

3,020

Lt\J yt± I O 49 632

Number of active officers, December 31

Number of other employees, December 31. . . .

69,439

296,308

30

140

69,409

296,168

900

2,666

258

1,495

801

1,593

5,132

28,421

634

2,304

764

3,699

244

932

Number of banks, December 31.. .. 13,436 7 13,429 224 9 221 195 140 95 37

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures: See the Annual Report for 1948, pp. 120-129, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars) (—*

_____________ __________ ________________ ______________ _____________________ < 1

T a b le 11 7 . 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 , b y St a t e , 1949— C ontinued

Earnings or expense item District of

Columbia Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana

C u rren t operating earnings— to ta l........... 25,598 44,571 51,548 12,068 250,784 74,573 56,095 36,031 39,324 41,013

Interest on United States Government

obligations......................................................... 7,386 13,969 8,944 3,516 94,233 25,686 16,418 9,788 11,027 11,200

Interest and dividends on other securities. . . 955 2,462 2,213 242 18,535 3,319 2,804 1,885 1,717 3,162

Interest and discount on loans........................ 11,289 16,859 29,193 6,620 93,035 33,867 28,661 19,175 21,451 18,882

Service charges and fees on bank’s loans... . 69 115 590 79 2,659 404 107 128 225 47

Service charges on deposit accounts............... 2,093 4,806 2,810 880 12,584 3,900 4,029 2,439 1,507 2,388

Other service charges, commissions, fees, and

collection and exchange charges.................. 722 2,10 1 3,827 250 3,932 2,309 1,874 816 630 2,622

Trust department................................................ 1,763 963 1,786 81 14,105 1,625 566 231 1,464 440

Other current operating earnings.................... 1,320 3,298 2,186 400 11,700 3,465 1,639 1,569 1,303 2,272

Cu rren t operating expenses— to ta l........... 17,029 28,290 33,027 7,717 163,462 48,691 33,911 20,693 22,337 26,107

Salaries— officers.................................................. 2,858 5,433 6,797 1,694 28,113 9,551 9,293 6,213 5,451 4,884

Salaries and wages— employees....................... 6,233 8,240 8,348 2,226 47,960 12,474 7,801 4,671 5,782 7,124

Fees paid to directors and members of

executive, discount, and other committees 197 280 450 49 1,2 1 2 654 381 329 347 370

Interest on time and savings deposits........... 1,437 3,019 3,391 1,340 26,211 8,274 4,938 1,500 1,823 2,892

Interest and discount on borrowed money. . 4 9 42 4 248 4 12 7 39 12

Taxes other than on net income...................... 1,300 1,039 2,640 176 8,455 4,248 1,160 907 1,701 2,280

Recurring depreciation on banking house,

furniture and fixtures..................................... 478 1,169 843 246 2,999 1,062 791 462 564 768

Other current operating expenses................... 4,523 9,101 10,517 1,982 48,263 12,427 9,537 6,604 6,630 7,778

N et current operating e a rn in gs ............... 8,569 16,282 18,521 4,351 87,322 25,882 22,184 15,338 16,988 14,905

Recoveries, transfers fro m reserve accounts, and profits— to ta l.................. 802 2,930 3,100 394 27,529 2,634 1,893 1,153 1,752 1,916

On securities:

1 223 73 14 932 103 250 139 102 35

Transfers from reserve accounts . . . . 205 143 8,173 50 7 73 339

Profits on securities sold or redeemed. . . . 293 1,326 1,272 252 10,131 1,337 649 235 743 516

On loans:

Recoveries......................................................... 287 118 861 44 2,002 368 288 383 374 284

Transfers from reserve accounts................. 3 258 242 11 1,142 170 49 73 268 302

All other................................................................ 217 799 509 74 5,149 606 656 315 193 441

Losses, charge-offs, and transfers to reserve accounts— t o ta l........................ 1,800 3,240 4,878 1,044 26,778 6,763 4,520 3,512 4,641 4,427

On securities:

Losses and charge-offs................................... 125 342 299 292 5,161 851 749 558 446 364

Troncfcifa fn rPQPfVA 6 205 5,454 385 11 42 352 887

On loans:

Losses and charge-offs.................................... 190 568 1,134 117 1,865 437 474 809 609 428

Transfers to reserve accounts...................... 1,017 1,421 2,748 599 10,815 3,441 2,381 1,275 2,479 1,564

All other................................................................ 463 703 698 35 3,483 1,648 905 828 754 1,183

Net profits before incom e taxes................ 7,569 15,972 16,742 3,701 88,072 21,754 19,557 12,979 14,099 12,395

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— t o t a l.....................

Federal...................................................................

State.......................................................................

2.483

2.483

4.404

4.404

4.796

4.796

1,110

1,097

14

19.974

19.974

5.803

5.803

4.453

4.453

3,380

3,378

2

3.967

3.967

3.227

3.227

Net profits after incom e taxes..................

D ividends and interest on capital— to ta l..

Dividends declared on preferred stock and

interest on capital notes and debentures. .

Cash dividends declared on common stock..

N et additions to capital from p ro fits .......

5,085 11,568 11,947 2,591 68,099 15,951 15,104 9,599 10,131 9,168

2.653

2.653

2,807

2

2,804

4,650

5

4,645

393

2

391

22,392

77

22,314

4,507

91

4,415

4,015

65

3,950

2,566

7

2,559

3,611

34

3,576

2,562

17

2,545

2,432 8,761 7,297 2,197 45,706 11,444 11,089 7,034 6,522 6,604

M em orand a

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities......................................................... 3

46

3

446

1

233

1

1,367

192

2,524

412

4,892

18

461

14

1,802

18

171

20

826

2

44

64

395

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities.........................................................

71 17 80

1

375

238

On loans................................................................. 383 97 719

Average assets and liabilities1

Assets— to ta l............................................

Cash and due from banks.................................

United States Government obligations.........

Other securities....................................................

Loans and discounts...........................................

All other assets.....................................................

Liab ilities an d capital— to ta l...................

Total deposits.......................................................

Demand deposits...............................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts.......................................

1,093,068

281,887

472,700

43,107

276,123

19,251

1,808,027

469,517

861,075

103,492

351,501

22,442

1,716,173

471,402

552,040

78,549

595,325

18,857

438,065

91,144

198,665

10,613

134,227

3,416

12,664,101

3,060,341

5,975,985

848,477

2,696,606

82,692

3,168,967

708,314

1,565,495

174,660

696,743

23,755

2,275,416

481,985

955,438

178,562

646,144

13,287

1,530,728

393,516

608,313

116,452

404,816

7,631

1,619,457

406,928

674,668

69,589

457,380

10,892

1,792,038

508,099

720,651

142,503

397,573

23,212

1,093,068

1,015,915

803,2J*3

212,672

7,519

69,634

1,808,027

1,690,870

1,358,710

332,160

7,215

109,942

1,716,173

1,586,538

1,270,559

315,979

15,614

114,021

438,065

416,076

320,821

95,255

1,434

20,555

12,664,101

11,865,216

8,789,297

3,075,919

57,449

741,436

3,168,967

2,973,854

2,104,531

869,323

11,374

183,739

2,275,416

2,135,458

1,624,276

511,182

2,869

137,089

1,530,728

1,441,924

1,292,144

149,780

3,311

85,493

1,619,457

1,502,428

1,279,798

222,630

6,786

110,243

1,792,038

1,688,505

1,403,815

284,690

12,936

90,597

Number of active officers, December 31 ...........

Number of other employees, December 3 1 ... .

343

2,570

993

3,856

1,315

4,069

289

991

4,218

19,108

2,003

6,090

2,040

4,069

1,511

2,465

1,348

3,255

837

3,341

Number of banks, December 31.......................... 19 189 328 42 874 477 604 461 362 161

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures: See the Annual Report for 1948, pp. 120-129, and earlier reports.

i—a

O i EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN KS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 17. E a r n in g s , E x p e n s e s , a n d .Div id e n d s of I n su r e d C o m m e r c ia l J3a n k s , b y S t a t e , 1949— Continued

(Amounts in thousands of dollars)

Earnings or expense item Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New

Hampshire

Cu rren t operating earnings— to ta l........... 13,167 35,495 104,496 125,237 75,566 22,239 95,077 13,800 29,045 4,962 6,990

Interest on United States Government

obligations......................................................... 3,423 12,333 30,652 39,249 21,532 4,730 24,065 4,606 8,820 1,222 1,526

Interest and dividends on other securities. . . 593 1,404 3,996 6,450 3,907 2,595 4,927 514 1,363 170 357

Interest and discount on loans........................ 7,392 16,669 45,523 62,992 34,216 10,066 53,126 6,332 14,172 2,888 3,925

Service charges and fees on bank’s loans... . 41 92 574 1,127 340 52 322 126 45 64 17

Service charges on deposit accounts............... 797 2,044 6,626 6,480 4,187 1,198 3,987 1,083 1,969 184 626

Other service charges, commissions, fees, and

collection and exchange charges................. 188 673 2,382 3,286 6,744 2,798 2,663 527 984 75 123

Trust department................................................ 353 951 8,001 1,822 1,822 112 2,616 47 286 138 108

Other current operating earnings.................... 379 1,330 6,744 3,832 2,818 687 3,370 567 1,405 221 308

C u rren t operating expenses— to ta l........... 8,994 23,458 69,000 83,593 49,223 14,131 57,354 8,504 17,542 3,250 4,717

Salaries— officers.................................................. 1,488 3,841 11,648 12,334 11,519 3,629 11,811 2,016 4,887 538 937

Salaries and wages— employees....................... 2,293 6,767 22,667 25,828 12,733 3,379 17,356 2,045 4,167 948 1,137

Fees paid to directors and members of

executive, discount, and other committees 155 398 664 745 652 213 616 59 242 10 93

Interest on time and savings deposits........... 1,997 3,685 6,993 17,922 8,959 1,179 5,590 755 1,136 748 814

Interest and discount on borrowed money. . 10 60 91 61 38 2 73 3 70 7

Taxes other than on net income. .................... 470 1,461 2,575 3,917 937 1,081 2,480 914 930 219 195

Recurring depreciation on banking house,

furniture and fixtures..................................... 163 491 1,894 1,913 980 293 1,445 228 373 86 130

Other current operating expenses................... 2,420 6,755 22,469 20,873 13,405 4,356 17,983 2,485 5,736 702 1,406

Net current operating e arn in gs ............... 4,172 12,038 35,496 41,644 26,343 8,109 37,723 5,296 11,502 1,712 2,275

Recoveries, transfers from reserve accounts, and profits— to ta l................. 621 2,662 14,820 3,578 1,942 780 6,609 895 1,468 34 653

On securities:

58 1,136 785 767 360 88 379 240 119 1 126

Transfers from reserve accounts.................

Profits on securities sold or redeemed. . . . 199

49

664

3,700

2,039

109

1,366

6

363

30

205

1,356

2,340

76

115

1

534 16 60

On loans:

153 301 1,046 360 588 157 573 356 155 4 77

Trsnsf6rs froin rcsorvG accounts ........... 44 178 3.125

4.125

172 88 38 353 40 234 213

All other................................................................ 167 335 803 536 263 1,609 68 426 13 176

Losses, charge-offs, and transfers to reserve accounts— to ta l........................ 1,127 3,682 21,854 10,313 4,841 2,733 10,065 3,139 2,764 175 1,207

On securities:

221 1,157 1,108 1,288 454 600 1,966 291 383 3 265

Transfers to reserve accounts...................... 7 396 4,886 702 191 214 490 843 79 40

On loans:

Losses and charge-offs.................................... 152 247 318 981 812 344 792 695 267 1 1 189

Transfers to reserve accounts...................... 570 1,398 9,816 6,261 2,347 1,206 4,573 1,092 1,303 142 598

177 485 5,726 1,081 1,038 369 2,245 217 732 20 115

N et profits before incom e taxes................ 3,666 11,019 28,461 34,907 23,444 6,156 34,268 3,053 10,208 1,571 1,720

FEDERAL 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........................................................................

935

935

3.214

3.214

7,860

5,973

1,887

8.926

8.926

6,585

5,323

1,262

1.296

1.296

9,113

8,629

483

1,149

1,099

50

2.357

2.357

439

439

422

422

Net profits after income taxes........................

Dividends and interest on capital— to ta l..

Dividends declared on preferred stock and

interest on capital notes and debentures..

Cash dividends declared on common stock..

Net additions to capital from profits. . . .

2,730 7,806 20,601 25,982 16,858 4,860 25,155 1,903 7,850 1,133 1,298

1,064

19

1,046

3,562

30

3,532

12,276

30

12,246

9,685

190

9,495

5,849

42

5,807

1,560

80

1,479

8,986

56

8,930

1,040

5

1,035

2,375

4

2,371

170

170

542

1

541

1,665 4,244 8,326 16,298 11,008 3,300 16,170 864 5,476 962 756

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities................................................. 5

80

19

402

26

462

66

2,727

3

608

2

1,793

5

80

30

509

631

305

8

1,464

On loans.................................................................

Losses charged to reserve accounts^ (not included in losses above): ^

On securities.......................................................

77

16

260

147 67 245

8

477

79 87

1

236 On loans............................................................. 663 182 214

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

445,467

84,998

185,682

26,015

144,712

4,060

1,570,117

355,677

760,143

67,556

367,729

19,012

4,311,705

972,673

1,874,477

187,311

1,200,250

76,994

5,218,484

1,052,404

2,467,184

362,851

1,292,146

43,899

2,965,761

670,301

1,286,985

206,740

778,560

23,175

811,569

212,424

281,272

116,103

195,132

6,638

4,350,247

1,170,382

1,600,956

243,150

1,302,134

33,625

592,268

146,761

298,064

24,358

119,178

3,907

1,288,404

333,502

553,538

79,347

313,722

8,295

172,010

31,530

76,642

8,860

52,967

2,0 11

227,484

51,623

80,377

14,740

78,750

1,994

445,467

404,695

223,817

180,878

2,659

38,113

1,570,117

1,457,833

1,033,626

l+21+,207

7,009

105,275

4,311,705

3,896,092

3,131+,1+12

761,680

56,345

359,268

5,218,484

4,902,477

2,785,266

2,117,211

29,829

286,178

2,965,761

2,766,475

1,891,651

871+,821+

17,404

181,882

811,569

761,819

627,810

131+,009

1,885

47,865

4,350,247

4,078,848

3,399,603

679,21+5

18,136

253,263

592,268

565,634

1+68,129

97,505

1,534

25,100

1,288,404

1,210,723

1,071+,103

136,620

4,829

72,852

172,010

161,462

103,085

58,377

1,135

9,413

227,484

203,459

136,787

66,672

822

23,203

Number of active officers, December 31...........

Number of other employees, December 3 1 ....

295

1,170

806

3,467

1,555

10,411

1,896

10,599

2,476

6,056

800

1,727

2,404

8,587

405

1,005

1,134

2,163

96

414

206

584

Number of banks, December 31.......................... 54 162 175 418 660 198 571 1 1 1 361 8 57

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures: See the Annual Report for 1948, pp. 120-129, and earlier reports.

•<1EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 1 17. 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 su r e d C o m m e r c ia l B a n k s , b y S t a t e , 1949— Continued

(Amounts in thousands of dollars)

Earnings or expense item New

Jersey

New

Mexico

New

York

North

Carolina

North

Dakota Ohio 1 Oklahoma Oregon Pennsylvania Rhode

Island

South

Carolina

Current operating earnings— total.............. 120,626 9,476 670,218 48,225 12,600 175,001 42,986 36,092 280,342 16,284 16,858

Interest on United States Government

obligations......................................................... 41,112 1,768 197,720 11,255 4,510 54,440 9,622 10,294 83,215 6,078 4,369

Interest and dividends on other securities. . . 9,374 242 35,600 2,339 470 10,499 2,239 1,891 25,343 384 951

Interest and discount on loans........................ 50,992 6,145 281,972 24,765 4,402 80,041 24,468 18,304 120,602 7,318 8,066

Service charges and fees on bank’s loans... . 226 147 6,699 612 90 934 165 141 1,2 0 1 6 27

Service charges on deposit accounts............... 7,772 524 28,865 2,642 908 8,913 3,097 2,868 9,766 699 1,322

Other service charges, commissions, fees, and

collection and exchange charges................. 1,543 249 12,644 3,766 1,831 3,314 976 692 4,023 165 1,479

Trust department................................................ 4,299 102 57,221 1,434 38 7,548 323 694 20,479 614 349

Other current operating earnings.................... 5,307 300 49,496 1,412 353 9,314 2,094 1,2 10 15,713 1,0 2 1 295

Current operating expenses— total.............. 84,719 5,560 418,192 29,685 7,314 116,856 24,135 23,281 176,130 11,226 9,814

Salaries— officers.................................................. 13,099 1,284 64,677 6,728 1,965 17,188 6,814 4,046 29,170 1,465 2,519

Salaries and wages— employees....................... 23,831 1,725 164,361 7,879 1,616 30,783 6,656 8,372 52,733 3,105 2,770

Fees paid to directors and members of

executive, discount, and other committees 1,257 46 2,989 304 100 1,124 242 86 2,581 126 12 1

Interest on time and savings deposits........... 16,401 361 28,396 3,902 1,113 22,421 1,088 3,202 27,119 2,570 835

Interest and discount on borrowed money. . 78 7 2,027 51 7 115 12 10 149 5 5

Taxes other than on net income...................... 4,842 292 14,023 1,072 253 13,818 507 595 8,692 711 132

Recurring depreciation on banking house,

furniture and fixtures..................................... 2,761 174 6,920 818 140 2,829 701 828 4,887 284 291

Other current operating expenses................... 22,451 1,671 134,801 8,932 2,123 28,580 8,118 6,143 50,801 2,958 3,141

Net current operating earnings..................... 35,907 3,916 252,027 18,540 5,287 58,145 18,850 12,811 104,212 5,059 7,044

Recoveries, transfers from reserve accounts, and profits— total........................ 13,070 222 51,317 4,930 220 7,465 1,153 1,370 15,883 718 403

On securities:

Recoveries......................................................... 1,529 4,562 77 18 720 30 18 1,468 15 117

Transfers from reserve accounts................. 513 3,859 3,019 1 259 1^384 132

Profits on securities sold or redeemed. . . . 6,048 18 19,263 1,114 43 2,572 241 494 5,175 164 93

On loans:

Recoveries......................................................... 1,234 159 2,736 167 55 823 494 168 2,335 45 49

Transfers from reserve accounts................. 1,252 12 13,751 55 2 1,726 22 1 771 311

All other................................................................ 2,493 34 7,146 500 101 1,365 366 690 4,751 50 145

Losses, charge-offs, and transfers to reserve accounts— total................................ 11,863 1,104 88,729 4,681 1,141 15,444 3,167 2,644 28,269 1,285 1,292

On securities:

Losses and charge-offs.................................... 1,967 32 5,047 647 114 1,204 256 204 3,733 23 236

Transfers to reserve accounts...................... 1,340 5,528 47 27 660 40 1,360 57 12

On loans:

Losses and charge-offs................................... 595 304 1,741 284 75 655 1,094 681 1,635 57 120

Transfers to reserve accounts...................... 6,120 645 64,984 3,205 671 11,009 1,329 1,560 16,422 1,044 807

All other................................................................ 1,842 122 11,429 499 254 1,915 449 199 5,120 103 116

Net profits before income taxes..................... 37,113 3,035 214,615 18,789 4,366 50,166 16,836 11,538 91,826 4,492 6,157

FEDERAL 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.......................................................................

7.713

7.713

831

831

67,818

58,751

9,067

4,638

4,487

151

1,251

1,186

66

12,208

12,208

4,644

4,124

520

3,353

2,485

868

24.508

24.508

1,451

1,276

175

1,819

1,580

238

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.........

29,400 2,203 146,796 14,151 3,115 37,957 12,191 8,184 67,318 3,042 4,338

8,682

1,510

7,172

592

3

589

97,215

1,417

95,798

3,420

2 1

3,400

928

4

923

12,525

249

12,277

3.683

3.683

2,005

1

2,004

32,173

96

32,076

1.575

1.575

1,416

9

1,407

20,718 1,611 49,582 10,731 2,187 25,432 8,509 6,180 35,145 1,467 2,923

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 56

355

203

1,812

819

6,783

1,918

17,493

1

54

14

492

83

613

151

3,446

107

507

706

3,737

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities..........................................................

127 42 283

4

942

18 41

20

197

15

3

On loans................................................................. 382 184 131 207

Average assets and liabilities1 

Assets— tota l...........................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities....................................................

Loans and discounts...........................................

All other assets.....................................................

Liabilities and capital— total..........................

Total deposits.......................................................

Demand deposits...............................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts.......................................

4,775,277

809,166

2,363,364

435,433

1,100,274

67,040

322,914

93,866

114,635

11,436

100,333

2,644

33,349,017

8,494,592

13,045,984

1,609,337

9,699,891

499,213

1,833,971

464,429

676,247

135,432

537,383

20,480

502,211

86,266

290,970

26,999

95,281

2,695

7,553,717

1,600,419

3,445,873

541,195

1,893,994

72,236

1,703,263

522,055

625,400

118,336

427,068

10,404

1,355,003

291,243

575,335

100,738

367,550

20,137

10,920,671

2,309,074

4,650,195

990,034

2,826,857

144,511

675,598

115,875

357,116

15,647

176,377

10,583

679,649

179,465

278,457

49,417

167,624

4,686

4,775,277

4,431,617

2,1+13,327

2,018,290

23,947

319,713

322,914

306,555

261+,055

1+2,500

571

15,788

33,349,017

29,828,462

25,691+,523

1+,133,939

691,660

2,828,895

1,833,971

1,696,900

1,309,1*52

387M S

19,221

117,850

502.211

477.212

361+,850

112,362

1,293

23,706

7,553,717

7,055,220

1+,1+09,790

2,61+5,1+30

35,750

462,747

1,703,263

1,589,390

1,1+68,1+61

120,929

5,401

108,472

1,355,003

1,268,681

893,827

371+,851+

7,630

78,692

10,920,671

9,793,254

6,730,772

3,062,1+82

60,432

1,066,985

675,598

619,192

399,997

219,195

6,312

50,094

679,649

637,856

51+8,71+5

89,111

2,584

39,209

Number of active officers, December 31 ...........

Number of other employees, December 3 1 ....

2,099

10,609

246

835

6,702

60,648

1,259

3,714

463

896

3,075

13,378

1,424

3,214

769

3,457

4,857

23,245

212

1,545

539

1,376

Number of banks, December 31.......................... 328 51 633 226 145 649 375 68 960 13 134

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures: See the Annual Report for 1948, pp. 120-129, and earlier reports.

coEARNINGS. EXPENSES. AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 117. E a r n in g s , E x p e n s e s , an d D iv id e n d s o f In su r e d C o m m e rc ia l B a n k s, b y S t a t e . 1949— Continued

(Amounts in thousands of dollars)

Earnings or expense item South

Dakota Tennessee Texas Utah Vermont Virginia Washington West

Virginia

Wisconsin Wyoming

C u rren t operating earnings— to ta l........... 14,278 52,656 161,510 16,374 9,302 55,920 53,152 27,412 70,308 6,689

Interest on United States Government

obligations......................................................... 3,844 11,958 34,486 3,579 1,504 12,321 11,840 8,020 25,409 1,710

Interest and dividends on other securities. . . 595 3,188 7,482 451 557 2,017 3,578 1,035 4,193 252

Interest and discount on loans........................ 6,707 30,537 94,521 9,536 6,245 33,595 28,548 14,771 31,167 3,567

Service charges and fees on bank’s loans... . 99 302 829 280 61 449 310 155 365 53

Service charges on deposit accounts............... 996 1,687 8,313 864 442 2,695 4,741 1,058 3,789 493

Other service charges, commissions, fees, and

collection and exchange charges.................. 1,514 2,014 4,154 674 114 1,137 1,430 541 1,702 225

Trust department................................................ 43 1,007 2,110 370 118 1,947 1,10 2 691 905 42

Other current operating earnings.................... 480 1,963 9,614 624 260 1,759 1,604 1,142 2,781 347

C urrent operating expenses— to ta l........... 8,360 31,507 97,505 10,161 6,579 34,354 34,762 15,925 47,634 3,866

2,560 6,196 22,964 1,833 991 6,967 6,580 3,210 10,025 1,020

Salaries and wages— employees....................... 1,839 8,092 26,481 2,797 1,268 8,690 11,813 3,954 11,529 1,014

Fees paid to directors and members of

executive, discount, and other committees 130 288 1,057 175 128 512 190 251 766 53

Interest on time and savings deposits........... 956 5,025 5,230 2,251 2,398 6,294 5,006 2,890 10,710 374

Interest and discount on borrowed money. . 3 32 41 1 1 15 28 13 25 36 5

Taxes other than on net income...................... 191 2,245 9,151 181 133 1,786 835 667 1,079 214

Recurring depreciation on banking house,

furniture and fixtures..................................... 197 827 2,894 222 145 1,173 1,016 526 1,176 102

Other current operating expenses.................... 2,484 8,802 29,686 2,692 1,502 8,906 9,311 4,402 12,312 1,084

N e t current operating e arn in gs ............... 5,919 21,150 64,005 6,215 2,723 21,566 18,390 11,488 22,674 2,823

Recoveries, transfers from reserve accounts, an d profits— to ta l.................. 239 2,026 6,068 618 492 1,639 1,374 1,265 4,036 305

On securities:

33 56 301 10 135 87 66 106 281 12

Transfers from reserve accounts................. 185 31 19 1 1 125 8 172 1

Profits on securities sold or redeemed. . . . 33 1,046 1,679 193 153 460 594 376 1,870 66

On loans:

77 267 1,641 127 113 428 153 324 330 140

Transfers from reserve accounts................. 2 1 1 625 26 35 226 29 124 912 3

95 461 1,792 243 55 439 407 327 471 83

Losses, charge-offs, an d transfers to reserve accounts— to ta l..................... 1,384 6,239 19,577 1,217 941 4,283 5,089 2,825 7,533 745

On securities:

Losses and charge-offs.................................... 84 1,439 1,955 38 162 491 338 389 838 81

Transfers to reserve accounts. . . . . . . . . . . 384 722 20 7 61 1,004 2 1 303 3

On loans:

Losses and charge-offs.................................... 92 497 3,922 267 294 884 298 493 433 198

Transfers to reserve accounts...................... 1,004 3,036 10,360 768 405 2,295 3,096 1,489 5,392 278

205 882 2,618 124 73 551 353 434 567 186

N et profits before incom e taxes................ 4,774 16,936 50,497 5,616 2,273 18,923 14,675 9,927 19,177 2,383

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Taxes on net income— to ta l............................

Federal...................................................................

State.......................................................................

1,207

1 ,1 1 2

95

4,539

4,445

94

14.912

14.912

1,835

1,701

135

566

496

70

5,746

5,743

3

3,065

3,064

3.125

3.125

4,253

4,165

89

707

707

Net profits after income taxes........................ 3,567 12,397 35,585 3,781 1,708 13,178 11,611 6,802 14,924 1,676

Dividends and interest on capital— to ta l..

Dividends declared on preferred stock and

interest on capital notes and debentures..

Cash dividends declared on common stock..

971

2

969

4,050

45

4,005

14,213

36

14,177

1,458

13

1,444

736

232

504

4,908

56

4,853

3,651

6

3,645

2,179

15

2,166

4,910

185

4,725

459

9

451

Net additions to capital from profits......... 2,596 8,347 21,372 2,323 972 8,269 7,961 4,623 10,014 1,217

Memoranda

Recoveries credited to reserve accounts (not

included in recoveries above):

On securities.......................................................... 5 25 4

187

44

1,051

On loans.................................................................

Losses charged to reserve accounts (not included in losses above):

On securities.................................................

53 269

14

619

67

3,718

42

15

153

33

9

195

212

8

858

370

899

975

87

15

372

27

On loans.......................................................... 127 708 128

Average assets and liabilities1

Assets— tota l..........................................................

Cash and due from banks.................................

United States Government obligations.........

Other securities...........................................

Loans and discounts.........................................

All other assets..............................................

524,104

106,216

253,482

28,131

133,001

3,274

2,025,101

529,612

698,458

139,255

635,214

22,562

6,599,745

2,085,380

2,165,852

319,183

1,949,466

79,864

587,723

141,193

231,229

22,235

188,374

4,692

269,954

40,227

77,947

24,011

124,820

2,949

1,953,802

465,116

723,009

84,157

655,525

25,995

1,976,542

471,019

745,184

152,398

590,732

17,209

1,006,581

234,190

452,992

44,715

263,819

10,865

3,090,402

608,813

1,518,594

216,953

720,558

25,484

262,098

74,060

111,935

11,959

62,544

1,600

Liabilities and capital— total..........................

Total deposits.......................................................

Demand deposits...............................................

Time and savings deposits..............................

Borrowings and other liabilities......................

Total capital accounts.......................................

524,104

495,372

1*07,593

87,779

1,320

27,412

2,025,101

1,893,729

1,1*1*9,01*6

1*1*U,683

9,668

121,704

6,599,745

6,200,887

5,577,771*

623,113

24,974

373,884

587,723

551,111

369,819

181,292

2,352

34,260

269,954

240,911

89,378

151,533

1,948

27,095

1,953,802

1,796,550

1,197,51*9

599,001

12,750

144,502

1,976,542

1,860,207

1,325,669

531*,538

7,940

108,395

1,006,581

924,679

663,11*7

261,532

4,759

77,143

3,090,402

2,897,883

1,637,893

1,259,990

7,557

184,962

262,098

246,743

200,227

1*6,516

697

14,658

Number of active officers, December 31...........

Number of other employees, December 3 1 ....

612

1,008

1,350

4,126

4,185

12,215

307

1,242

236

617

1,472

4,491

1,045

4,753

644

1,844

1,999

5,378

2 1 1

470

Number of banks, December 31.......................... 169 288 850 55 69 312 119 176 543 53

Note: Due to rounding, earnings data of State banks may not add precisely to the indicated totals.

1 Asset and liability items are averages of figures reported at beginning, middle, and end of year.

Back figures: See the Annual Report for 1948, pp. 120-129, and earlier reports.

EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 118. E a r n in g s , E x p e n ses, an d D iv id en 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, 1941-1949

(Amounts in thousands of dollars)

Earnings, expense, asset or liability item 1941 1942 1943 1944 1945 1946 1947 1948 1949

Current operating earnings— total................ 69,547 76,287 273,479 295,709 322,795 350,951 375,592 403,156 436,869

Interest, discount, and other income on real

estate loans......................................................... 26,554 31,212 137,950 140,002 141,001 142,538 151,174 166,308 191,372

Interest, discount, and income on other loans 1,195 1,119 1,241 1,260 1,627 1,893 2,114 2,477 2,615

Interest on U. S. Government obligations,

direct and guaranteed...................................... 12,955 17,134 76,510 97,856 135,627 171,139 184,900 184,139 183,106

Interest and dividends on other securities.... 18,068 16,923 24,607 29,694 24,652 22,609 24,386 35,748 45,165

Collection and exchange charges, commissions, and fees....................................................

Other current operating earnings......................

123 154 321 538 1,033 1,301 1,329 1,214 1,450

10,652 9,745 32,850 26,359 18,855 11,471 11,689 13,270 13,161

Current operating expenses— total................ 23,344 24,520 87,847 86,575 77,705 85,523 93,613 100,768 104,187

Salaries— officers.................................................... 2,205 2,715 9,467 10,093 10,567 11,967 13,271 14,267 15,181

Salaries and wages— employees......................... 5,080 5,915 19,792 20,658 22,179 26,938 31,247 34,156 35,809

Directors’, trustees’ , and managers’ fees1. . . . 316 389 1,704 1,903 855 1,045 1,142 1 ,2 1 1 1,313

Taxes other than on net income........................ 5,432 5,104 17,015 14,838 8,410 7,243 6,891 6,418 6,411

Recurring depreciation on banking house,

furniture and fixtures2...................................... 668 743 3,046 3,359 2,649 2,574 2,550 2,705 3,127

Other current operating expenses..................... 9,643 9,654 36,823 35,724 33,045 35,756 38,512 42,011 42,346

Net current operating earnings....................... 46,203 51,767 185,632 209,134 245,090 265,428 281,979 302,388 332,682

Dividends (interest) paid on deposits........... 29,684 33,209 117,985 132,430 143,350 160,134 181,225 196,096 235,800

Net operating earnings after dividends on

deposits.......................................................... 16,519 18,558 67,647 76,704 101,740 105,294 100,754 106,292 96,882

Profits and recoveries on assets— to ta l......... 23,014 19,092 129,160 101,473 181,982 186,720 99,548 59,897 77,797

Recoveries on securities3...................................... 3,432 5,164 40,402 31,423 47,560 34,920 32,443 14,514 20,094

Profits on securities sold or exchanged............ 13,996 7,112 31,376 30,677

14,763

79,389 89,554 27,770 6,705 33,205

Recoveries on loans3............................................. 462 653 11,094 4,055 2,097 1,266 411 443

All other profits and recoveries4........................ 5,124 6,163 46,288 24,610 50,978 60,149 38,069 38,267 24,055

Losses and charge-offs— total........................... 34,848 33,486 168,891 113,691 135,783 142,499 111,998 76,792 88,143

On securities5.......................................................... 16,470 10,379 32,818 17,625

68,179

36,635 72,320 58,587 23,872 30,861

On loans5.................................................................. 6,030 9,211 74,327 28,825 3,375 4,472 7,233 8,610

All other6.................................................................. 12,348 13,896 61,746 27,887 70,323 66,804 48,939 45,687 48,672

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Net profits before income taxes....................... 4,685 4,164 27,916 64,486 147,939 149,515 88,304 89,397 86,536

Taxes on net income.................................... 97 33 345 122 2,034 5,759 5,992 4,501 4,341

Net profits after income taxes.......................... 4,588 4,131 27,571 64,364 145,905 143,756 82,312 84,896 82,195

Interest on capital debentures...................... 344 318 294 482 271 264 248 234 230

Net profits after interest and dividends.. . . 4,244 3,813 27,277 63,882 145,634 143,492 82,064 84,662 81,965

Average assets and liabilities7 

Assets— tota l..............................

Cash and due from banks................

U. S. Government obligations.........................

Other securities...........................................

Real estate loans.....................

Other loans and discounts...............

All other assets.........................

1,973,635

184,743

581,795

445,939

604,701

35,151

121,306

2,089,328

141,377

725,595

416,107

661,599

30,078

114,572

7,945,687

494,112

3,322,146

663,101

3,104,849

28,145

333,334

9,164,873

449,751

4,723,004

628,821

3,085,567

30,372

247,358

10,636,400

416,762

6,345,344

605,362

3,056,494

36,934

175,504

12,066,095

530,271

7,588,938

653,589

3,112,879

41,588

138,830

13,128,837

649,906

8,127,449

814,360

3,352,063

48,173

136,886

13,860,655

667,792

8,042,934

1,189,924

3,756,276

56,597

147,132

14,627,136

665,128

7,855,590

1,504,437

4,382,035

58,135

161,811

Liabilities and capital— total.........

Total deposits........................................

Demand deposits...................

Time and savings deposits...................

Borrowings and other liabilities. . . .

Total surplus and capital accounts............

1,973,635

1,803,002

} 1,803,002

7,248

163,385

2,089,328

1,900,429

1,900^29

6,656

182,243

7,945,687

7,134,660

7,131^,660

22,331

788,696

9,164,873

8.280.998

8.280.998

23,974

859,901

10,636,400

9,648,308

9,6^8,308

27,085

961,007

12,066,095

10,923,361

\ 13,198

I 10,910,163

32,934

1,109,800

13,128,837

11,869,717

13,565

11,856,152

42,064

1,217,056

13,860,655

12,519,862

lb,395

12,505^67

44,618

1,296,175

14,627,136

13,201,208

lb,752

13,186456

47,638

1,378,290

Number of active officers, December 31. . .

Number of other employees, December 31.

317

2,823

363

2,884

1,209

9,581

1,276

9,719

1,337

10,852

1,410

11,414

1,494

11,599

1,527

11,930

1,567

12,331

Number of banks, December 318..................

1 Tn/»llinflo n rA fn o o irv v io l 1 A A 1 ___ -

52 56 184 192 192 191 194 193 192

i * A A V Hi •Li/ TX X vlli \J Ug XX X l7 i Tt •

s fT?riq?in^QAi>.toSU/f f lltKngirep0^ts ^P-IC in 194i, insists 9f regular and extraordinary depreciation reserves on banking house, furniture and fixtures.

4 l n f°^ ban£s * ot- submittmg reports to FDIC in 1945-1947, includes reductions in valuation reserves.

5 ?n i o 1 i i o H r 5 afnks submitting reports to FDIC and in 1948-1949 for all banks, includes all reductions in valuation reserves.

r t i af xi nf n’ea u F banks not submitting reports to FDIC in 1945-1947, includes additions to valuation reserves.

7 a 1945-1947 for banks submitting reports to FDIC and in 1948-1949 for all banks, includes all additions to valuation reserves.

» Asset and liability items are averages of figures reported at beginning, middle, and end of year.

8 Includes 3 mutual savings banks, members of the Federal Reserve System.

Back figures: See the Annual Report for 1941, p. 173.

00

C OEARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
00

Table 119. 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 M u t u a l Sa v in g s B a n k s , 1941-1949

Earnings or expense item 1941 1942 1943 1944 1945 1946 1947 1948 1949

Amounts per $100 of current operating

earnings:

Current operating earnings— total................ $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00 $100.00

Income on real estate loans................................ 38.18 40.91 50.44 47.34 43.68 40.62 40.25 41.25 43.81

Income on other loans......................................... 1.72 1.47 .46 .43 .50 .54 .56 .61 .60

Interest on U . S . Government obligations. . . 18.63 22.46 27.97 33.09 42.02 48.76 49.23 45.68 41.91

Interest and dividends on other securities.... 25.98 22.18 9.00 10.04 7.64 6.44 6.49 8.87 10.34

Collection and exchange charges, commissions, and fees.................................................... .17 .20 .12 .18 .32 .37 .36 .30 .33

Other current operating earnings...................... 15.32 12.78 12 .0 1 8.92 5.84 3.27 3.11 3.29 3.01

Current operating expenses— total................. 33.57 32.14 32.12 29.28 24.07 24.37 24.92 24.99 23.85

Salaries, wages and fees1...................................... 10.93 11.82 11.32 11.04 10.41 11.38 12.16 12.31 11.97

Taxes other than on net income........................ 7.81 6.69 6.22 6.02 2.60 2.06 1.83 1.59 1.47

Recurring depreciation on banking house,

furniture and fixtures2...................................... .96 .97 1 .1 1 1.14 .82 .74 .68 .67 .72

Other current operating expenses..................... 13.87 12.66 13.47 12.08 10.24 10.19 10.25 10.42 9.69

Net current operating earnings....................... 66.43 67.86 67.88 70.72 75.93 75.63 75.08 75.01 76.15

Dividends (interest) paid on deposits........... 42.68 43.53 43.14 44.78 44.41 > 45.63 48.25 48.64 53.97

Net operating earnings after dividends on

deposits.......................................................... 23.75 24.33 24.74 25.94 31.52 30.00 26.83 26.37 22.18

Am ounts per $100 of total assets3

Current operating earnings— total........................ 3.52 3.65 3.44 3.23 3.03 2.91 2.86 2.91 2.98

Current operating expenses— total........................ 1.18 1.17 1.10 .95 .73 .71 .71 .73 .71

Net current operating earnings.............................. 2.34 2.48 2.34 2.28 2.30 2.20 2.15 2.18 2.27

Dividends (interest) paid on deposits............... 1.50 1.59 1.49 1.44 1.35 1.33 1.38 1.41 1.61

Net operating earnings after dividends on

deposits..................................................................... .84 .89 .85 .84 .95 .87 .77 .77 .66

Recoveries and profits— total................................. 1.17 .91 1.63 1 .1 1 1.71 1.55 .76 .43 .53

Losses and charge-offs— total................................. 1.77 1.60 2.13 1.24 1.27 1.18 .86 .55 .60

Net profits before income taxes............................. .24 .20 .35 .71 1.39 1.24 .67 .65 .59

Net additions to surplus and capital accounts.. .22 .18 .34 .70 1.37 1.19 .63 .61 .56

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Special ratios’

Income on real estate loans per $100 of real

estate loans............................................................

Income on other loans per $100 of other loans.

Interest on U. S. Government obligations per

$100 of U. S. Government obligations..........

Income on other securities per $100 of other

securities...................................................................

Dividends paid on deposits per $100 of time

and savings deposits.............................................

Net additions to surplus and capital accounts per

$100 of total surplus and capital accounts..

Assets and liabilities per $100 of total

assets3

Assets— total........................................................

Cash and due from banks...............................

U. S. Government obligations.......................

Other securities..................................................

Loans and discounts.........................................

All other assets........................... .......................

Liabilities and capital— to ta l...

Total deposits..................................

Demand deposits..........................

Time and savings deposits.........

Borrowings and other liabilities.

Total capital accounts..................

4.39

3.40

2.23

4.05

1.65

2.60

100.00

9.36

29.48

22.59

32.42

6.15

100.00

91.35

91.85

.37

8.28

4.72

3.72

2.36

4.07

1.75

2.09

100.00

6.77

34.73

19.91

33.11

5.48

100.00

90.96

90.96

.32

8.72

4.44

4.41

2.30

3.71

1.65

3.46

100.00

6.22

41.80

8.35

39.43

4.20

100.00

89.79

.28

9.93

4.54

4.15

2.07

4.72

1.60

7.43

100.00

4.91

51.53

6.86

34.00

2.70

100.00

90.36

.26

9.38

4.61

4.41

2.14

4.07

1.49

15.15

100.00

3.92

59.66

5.69

29.08

1.65

100.00

90.71

.25

9.04

4.58

4.55

2.26

3.46

1.47

12.93

100.00

4.40

62.89

5.42

26.14

1.15

100.00

90.53

.11

90.1*2

.27

9.20

.51

4.39

2.28

2.99

1.53

6.74

100.00

4.95

61.91

6.20

25.90

1.04

100.00

90.41

.10

90.81

.32

9.27

4.43

4.38

2.29

3.00

1.57

6.53

100.00

4.82

58.03

8.58

27.51

1.06

100.00

90.33

.11

90.22

.32

9.35

4.37

4.50

2.33

3.00

1.79

5.95

100.00

4.55

53.71

10.28

30.35

1.11

100.00

90.25

.10

90.15

.33

9.42

Number of banks, December 314. 52 56 184 192 192 191 194 193 192

1 Includes professional fees from 1941 through 1944.

2 For banks not submitting reports to FDIC in 1941, consists of regular and extraordinary depreciation reserves on banking house, furniture and fixtures.

* Asset and liability items are averages of figures reported at beginning, middle, and end of year.

4 Includes 3 mutual savings banks, members of the Federal Reserve System.

00

Oi EARNINGS, EXPENSES, AND DIVIDENDS OF INSURED BAN K S

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Federal Reserve Bank of St. Louis
D e p o sit I n s u r a n c e D is b u r s e m e n t s

Table 120. Disbursements by the Federal Deposit Insurance Corporation to protect depositors;

number of banks, deposits of, and number of depositors in insured banks placed in 

receivership or merged with the financial aid of the Corporation, 1934-1949

Banks grouped by class of bank, year of receivership or merger, amount of deposits>

and State

Table 121. Assets and liabilities of insured banks placed in receivership and of insured banks 

merged with the financial aid of the Federal Deposit Insurance Corporation, 

1934-1949

As shown by books of bank at date of closing

Table 122. Name, location, Federal Deposit Insurance Corporation disbursement, and assets 

and liabilities of insured banks merged with the financial aid of the Corporation 

during 1949

Table 123. Recoveries and losses by the Federal Deposit Insurance Corporation in connection 

with insured banks placed in receivership or merged with the financial aid of the 

Corporation, 1934-1949

As shown by books of FDIC, December 31, 1949

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Disbursements by the Federal Deposit Insurance Corporation

to protect depositors are made whenever insured banks because of 

financial difficulties are placed in receivership or are merged with the 

aid of the Corporation. In receiverships the disbursement is the amount 

paid by the Corporation on insured deposits. In mergers the Corporation’s disbursement is the amount loaned to merging banks, or the 

price paid for assets purchased from them.

The table “ Depositors and deposits of insured banks placed in 

receivership,” by years, which appeared in previous reports, has been 

omitted since there has been no receivership since 1944. For definitions 

of the terms used in that table, and the detailed figures as shown by 

the books of the Corporation for December 31, 1946, see the Annual 

Report of the Corporation for 1946, pages 167 and 171. Totals for all 

insured banks placed in receivership are given in Tables 2 and 3 of 

this Report, pages 7 and 8.

Deposits of insured banks placed in receivership as given in Table 120 

are taken from the books of FDIC at the end of the year and will differ 

from the deposits in Table 121 which are taken from books of the 

bank at date of closing. This is because the former include deposits 

discovered or reclassified after the date of a bank’s closing.

Details of the mergers during 1949 are given in Table 122. The 

disbursements by the Corporation were made to purchase assets from 

the selling bank which were not acceptable to the purchasing bank.

Four noninsured banks failed in 1949. The names and locations of 

these banks and their deposits and dates of closing are given below.

Farmers & Merchants Bank, Blairsville, Georgia, April 29, 1949, 

deposits not available.

Commercial Bank, Jasper, Georgia, April 28, 1949, deposits 

$190,000.

Viguera Banking Company, Eagle Pass, Texas, May 25, 1949, 

deposits $1,246,000.

Valley State Bank, San Juan, Texas, June 27, 1949, deposits 

$1,007,000.

For suspensions of noninsured banks in previous years, see the Annual 

Reports of the Corporation as follows: 1943, p. 102; 1946, p. 167; and 

1947, p. 159.

Sources of data

Books of bank at date of closing; and books of FDIC, December 

31, 1949.

Noninsured bank failures

ooDEPOSIT INSURANCE DISBURSEM ENTS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
F in a n c ia l A id o f th e C o r p o r a tio n , 1934-1949 ^

QO

BANKS GROUPED BY CLASS OF BANK, YEAR OF RECEIVERSHIP OR MERGER, AMOUNT OF DEPOSITS, AND STATE <*>

Table 120. D is b u r s e m e n ts b y t h e F e d e r a l D e p o s it In su r a n c e C o r p o r a tio n t o P r o t e c t D e p o s it o r s ; N u m b e r o f B a n k s,

D e p o s it s o f , a n d N u m b e r o f D e p o sito r s in I n su r e d B a n k s P l a c e d in R e c e iv e r s h ip o r M e r g e d w it h t h e

Classification

All banks.

Class of bank

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

State banks members F. R.

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

Banks not members F. R.

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

Calendar year

193 4 

193 5 

193 6 

193 7 

1938.

1939.

1940.

1941.

1942.

1943.

1944.

1945.

1946.

1947.

1948.

1949.

Banks with deposits of-

$100,000 or less......................

$100,000 to $250,000............

$250,000 to $500,000............

$500,000 to $1,000,000........

$1 ,000,000 to $2 ,000,000. ..

$2,000,000 to $5,000,000. .,

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

$10,000,000 to $50,000,000.

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

Disbursements by FDIC

(in thousands of dollars) 1

Total

269,961

49,576

101,238

119,147

941

8,890

14,833

19,202

30,512

67,804

74,455

23,928

11,141

7,250

1,520

1,874

292

1,777

2,990

2,552

4.955

12,864

15,224

26,090

28,862

43,761

23,642

114,563

Receiverships2

87,044

14,808

20,934

51,302

941

6,025

8,056

12,045

9,092

26,196

4,895

12,278

1,612

5,500

404

4.308

11,554

10,223

13,901

8,961

12,421

25,676

Mergers8

182,917

34,768

80,304

67,845

2,865

6.777

7,157

21,420

41,608

69,560

11,650

9,529

1,750

1,116

1,874

292

1.777

2,990

2,552

647

1,310

5,001

12,189

19,901

31,340

23,642

88,887

Number of banks

Total

411

70

22

319

106

108

60

54

39

26

10

Receiverships

245

21

6

218

Mergers

166

49

16

101

Deposits

(in thousands of dollars)

Total

527,655

105,179

187,623

234,853

1,968

13,320

27,528

33,345

59,724

157,790

142,389

29,721

19,011

12,535

1,915

5,695

316

6,966

10,455

4,977

6,358

17,611

21,409

40,382

56,693

80,658

65,407

239,137

Receiverships2

109,603

19,474

26,550

63,579

1,968

9,091

11,241

14,960

10,296

32,751

5,657

14,730

1,816

6,637

456

4,947

13,920

12,462

17,590

11,748

16,279

32,657

Mergers3

418,052

85,705

161,073

171,274

4,229

16,287

18,385

49,428

125,039

136,732

14,991

17,195

5,898

1,459

5,695

316

6,966

10,455

4,977

1,411

3,691

8,947

22,792

44,945

64,379

65,407

206,480

Number of depositors2

Total

1,347,948

282,435

368,503

697,010

15,767

44,655

89,024

130,409

203,970

392,765

256,373

73,046

60,602

27,372

5,488

12,484

1,404

10,618

18,311

5,660

38,064

83,012

90,910

142,166

188,030

214,514

170,850

420,402

Receiver382,764

55,406

82,860

244,498

15,767

32,331

43,225

74,148

44,288

90,211

20,667

38,594

5,717

16,917

29,695

65,512

56,777

63,487

54,324

51,756

61,213

Mergers4

965,184

227,029

285,643

452,512

12,324

45,799

56,261

159,682

302,554

235,706

34,452

54,885

10,455

4,589

12,484

1,404

10,618

18,311

5,660

8,369

17,500

34,133

78,679

133,706

162,758

170,850

359,189

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
State

Alabama...............

Arkansas...............

California..............

Colorado...............

Connecticut.........

Florida...................

Georgia.................

Illinois....................

Indiana..................

Iowa.......................

Kansas...................

Kentucky..............

Louisiana..............

Maryland.............

Massachusetts. . .

Michigan...............

Minnesota.............

Mississippi............

Missouri................

Montana...............

Nebraska...............

New Hampshire..

New Jersey...........

New York.............

North Carolina...

North Dakota. . .

Ohio........................

Oklahoma.............

Oregon...................

Pennsylvania. . . .

South Carolina...

South Dakota....

Tennessee.............

Texas.....................

Vermont................

Virginia.................

Washington..........

West Virginia... .

Wisconsin.............

Wyoming..............

237

841

861

7

1,242

300

863

3,779

6,207

1,462

975

4,614

668

3,132

1,571

5,340

640

257

4,920

639

469

118

80,891

67,826

1,448

2,663

1,868

2.444

962

47,677

298

2,411

1,279

2,761

3.445

5,053

935

1,458

7,198

202

94

841

7

1.242

203

846

1.242

3,097

385

482

3,329

668

735

139

640

257

4,335

186

469

25,103

10,835

1,156

1,397

1,610

1,133

10,133

136

2,388

1,164

2,468

3,259

511

1,458

5,096

143

‘ 861

97

17

2,537

3,110

1,077

493

1,285

2,397

1,571

5,201

585

453

118

55,788

56,991

292

1,266

258

1,311

962

37,544

162

23

115

293

186

4,542

935

2,102

202

1 1 529 10 1 428 3,231 794 2,437

5 1,168 1,168 3,529 3,529

1 1,078 1,078 3,169 3,169

1 8 8 10 10

2 1,526 1,526 5,379 5,379

1 1 491 217 274 1,642 448 1,194

7 1 1,027 998 29 8,094 7,773 321

6 9 8,158 1,637 6,521 19,081 5,372 13,709

15 5 13,236 3,932 9,304 30,011 12,549 17,462

3 3 5,516 498 5,018 13,666 1,676 11,990

5 4 1,233 539 694 5,147 2,254 2,893

18 4 7,951 3,954 3,997 34,623 18,490 16,133

3 1,652 1,652 6,087 6,087

2 3 4,569 828 .........3,741 22,569 6,643 15,926

2 3,019 3,019 9,062 9,062

3 4 12,404 160 12,244 30,510 928 29,582

5 818 818 2,650 2,650

3 334 334 1,651 1,651

34 11 7,001 5,116 1,885 34,562 26,760 7,802

3 2 1,007 215 792 1,488 849 639

4 538 538 2,224 2,224

1 296 296 1,781 1,781

1 1 27 192,444 30,928 161,516 520,426 101,656 418,770

3 22 138,826 13,286 125,540 259,905 28,440 231,465

2 4 2,291 1,421 870 7,962 3,677 4,285

18 1 1 3,830 1,552 2,278 14,109 6,760 7,349

2 1 3,087 2,345 742 8,541 7,585 956

5 3 4,151 1,659 2,492 10,564 5,874 4,690

1 1,114 1,114 2,105 2,105

8 18 69,139 14,340 54,799 157,843 43,828 114,015

1 1 850 136 714 1,848 403 1,445

22 1 2,988 2,862 126 12,516 11,412 1,104

8 4 1,942 1,620 322 12,358 9,993 2,365

16 2 3,925 3,239 686 19,864 18,334 1,530

2 1 3,725 3,375 350 11,058 8,687 2,371

3 5 10,746 629 10,117 26,063 2,964 23,099

1 1,538 1,538 4,181 4,181

3 2,006 2,006 8,346 .........8,346

20 11 9,503 5,966 .........3,537 26,896 18,739 8,157

1 1,991 1,991 3,197 3,197

1 Includes only principal disbursements; i.e., excludes expenses incident to the transactions, the greater part of which has been recovered.

2 Data from books of FDIC, December 31, 1949.

8 Data from books of bank at date of closing.

4 Number of deposit accounts.

DEPOSIT INSURANCE DISBURSEM ENTS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 12 1 . A s s e t s an d L ia b i lit i e s o f In su re d B a n k s P la c e d in R e c e iv e r s h ip an d o f In s u r e d B a n k s M e r g e d w ith

t h e F in a n c ia l A id o f 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 , 1934-1949

AS SHOWN BY BOOKS OF BANK AT DATE OF CLOSING CD

O

Year

Assets

Cash and

due from

banks

U. S. Government

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking

house,

furniture &

fixtures

Other

real

estate

Other

Total

Liabilities and capital accounts

Total

deposits

Other

liabilities

R. F. C.

capital

Private

capital

stock

Other

capital

accounts1

T o ta l $120,394,593

R E C E IV E R S H IP S 2

T o ta l $22,620,382

185,056

1,974,181

2,194,712

2,238,648

1,610,297

3,329,557

1,018,215

6,462,157

500,513

2,910,826

196,220

1934

1935

1936

1937

1938

1939

1940

1941

1942

1943

1944

M E R G E R S

T o ta l $97,774,211

1935

1936

1937

1938

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

1949

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

$80,271,561

$10,154,078

603,519

698,440

902,215

1,293,683

451,570

1,052,424

452,574

3,493,431

119,650

968,872

117,700

$70,117,483

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

$74,278,265

$15,946,562

273,638

510,479

1,955,104

2,307,696

2,215,638

4,855,519

1,519,677

1,810,346

52,364

405,011

41,090

$58,331,703

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

$236,564,932

$65,569,217

1,329,865

6,842,116

6,454,624

11,107,699

6,574,061

21,839,422

3,314,762

5,398,218

777,953

1,846,467

84,030

$170,995,715

2,256,417

8,917,554

8,678,629

20,896,236

44,289,765

60,687,428

8,178,623

7,731,137

1,675,734

367,086

2,435,488

77,049

1,452,370

2,015,414

1,336,785

$22,458,520

$5,375,616

79,365

459,055

459,700

486,995

412,911

1,845,901

694,900

91,311

70,685

772,493

2,300

$17,082,904

608,467

1,277,605

562,181

2,873,257

5,142,882

4,553,388

798,028

759,861

274,331

$59,563,796

$12,293,686

120,319

242,274

734,874

837,966

2,125,022

7,221,558

435,526

106,615

55,222

414,310

$47,270,110

2,369

56,630

112,200

61,705

1,184,658

926,359

3,913,009

15,459,743

22,840,095

1,014,582

1,824,586

15,844

67,428

4,609

1

19,196

$13,607,660

$8,330,507

69,565

1,597,403

273,559

1,010,689

530,408

3,781,385

523,899

449,458

25,030

63,677

5,434

$5,277,153

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

$607,139,327

$140,290,048

2,661,327

12,323,948

12,974,788

19,283,376

13,919,907

43,925,766

7,959,553

17,811,536

1,601,417

7,381,656

446,774

$466,849,279

4,917,728

18,966,364

21,086,180

55,592,711

137,588,630

153,938,219

16,992,727

20,652,721

6,676,573

1,650,788

6,391,915

351,169

6,797,738

10,360,196

4,885,620

$525,426,240

$107,374,564

1,951,992

8,700,485

11,039,098

14,715,286

10,124,255

32,557,805

5,599,438

14,627,158

1,379,526

6,274,311

405,210

$418,051,676

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

$11,474,733 $25,145,464

$10,122,023 $5,896,246

104,963

2 ,111,8 8 6

93,695

1,132,758

90,000

223.000

788.000

755,250

1,213,354

4,695,820

455,788

298,526

1,052,900

2,249,996

422,750

195,500

1,520

13,582

131

81,750

32,500

4,600

$1,352,710 $19,249,218

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 15,000

$38,202,461

$12,254,299

432,100

950.000

1,069,350

2,498,815

1.059.200

2,775,001

1,045,533

1.582.000

140.000

675.000

27,300

$25,948,162

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

$6,890,429

$4,642,916

82,272

338,577

-15,355

181,267

470,198

1,647,144

436,044

1,108,352

-1,379

386,263

9,533

$2,247,513

373,772

685,333

21,006

-428,459

-614,475

1,196,087

544,201

795,391

382,882

-8,303

365,213

24,767

-365,504

-469,324

-255,074

1 Includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books. Minus (-) indicates net operating deficit.

2 No insured bank has been placed in receivership since 1944.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 1 2 2 . N am e, L o c a tio n , 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 D isb u r se m e n t, an d A s s e t s an d L ia b ilit ie s o f

In s u r e d B a n k s M e r g e d w ith th 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 1949

Case Name and location Class of bank Number of

accounts1

Disbursement2

Absorbing bank number

Date Amount

163 The First National Bank of Dyer,

Dyer, Indiana

National 3,380 February 21, 1949 $1,282,161 Gary National Bank, Gary, Indiana

164 Stockmens Bank of Martinsdale,

Martinsdale, Montana

State bank, not

member F. R. System

422 May 3, 1949 426,361 The Continental National Bank of

Harlowtown, Harlowtown, Montana

165 The Citizens Banking Company,

Weston, Ohio

State bank, not

member F. R. System

956 June 13, 1949 257,560 The Bank of Wood County Company,

Bowling Green, Ohio

166 Farmers & Merchants State Bank,

Spencerville, Indiana

State bank, not

member F. R. System

902 October 10, 1949 585,503 The Auburn State Bank,

Auburn, Indiana

Case

number

Assets Liabilities

Cash and

due from

banks

U. S. Government

obligations

Other

securities

Loans,

discounts,

and

overdrafts

Banking

house,

furniture &

fixtures

Other

real

estate

Other

assets

Total

Total

deposits

Other

liabilities

R. F. C.

capital

Private

capital

stock

Other

capital

accounts3

Total

163

164

165

166

$2,616,025

2,057,885

248,543

220,745

88,852

$647,349

124,900

268,679

187,370

66,400

$217,903

4,500

42,500

169,839

1,064

$1,336,785

918,320

68,293

153,483

196,689

$61,705

51,250

5.100

4.100

1,255

$5,853

1,090

4,748

15

$4,885,620

3,156,855

634,205

740,285

354,275

$4,977,235

3,089,729

709,196

741,702

436,608

$5,959

1,566

529

3,217

647

$15,000

15,000

$142,500

75.000

25.000

30.000

12,500

$-255,074

-9,440

-100,520

-34,634

-110,480

1 Number of accounts as of date of examination prior to purchase of assets.

2 Does not include preliminary and field liquidation expenses or advances for the protection of assets, incident to the transaction.

3 Includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books. Minus (-) indicates net operating deficit.

Note: Data do not include one national bank in Monmouth, Oregon, with deposits of $1,189,500, in financial difficulties, absorbed by a national bank in Portland, Oregon, June 30,

1949, of which it became a branch. No financial aid of the Federal Deposit Insurance Corporation was necessary.

I—*■

coDEPOSIT INSURANCE DISBURSEM ENTS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 123. R e c o v e r ie s a n d L o sse 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 in C o n n e c tio n w ith

I n s u r e d B a n k s P l a c e d in R e c e iv e r s h ip or M e r g e d w it h t h e F in a n c ia l A id o f t h e C o r p o r a t io n , 1934-1949

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1949

(Amounts in thousands of dollars)

Liquidation status

and year of

receivership or

merger

All banks

Number

of

banks

Estimated

FDIC

disbursement1

Recoveries

to

December

31, 1949

Estimated

additional

recoveries

Estimated

losses3

Receiverships

Number

of

banks

Estimated

FDIC

disbursement1

Recoveries

to

December

31, 1949

Estimated

additional

recoveries

Estimated

losses3

Mergers

Number

of

banks

Estimated

FDIC

disbursement1

Recoveries

to

December

31, 1949

Estimated

additional

recoveries

Estimated

A ll banks, to ta l.

Sta tu s

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 

411

59

352

9

25

69

75

74

60

43

15

20

5

2

1

1

5

269,982

149,620

120,362

941

8,890

14,833

19,204

30,512

67,817

74,455

23,928

11,141

7,256

1,520

1,874

292

1,777

2,990

2.552

241,737

133,908

107,829

734

6,139

12,418

15,591

28,075

60,061

69,697

23,221

10,434

7,126

1,479

1,874

292

1,356

1,863

1.377

2.755

2.755

6

273

973

86

24

7

4

25,490

12,957

12,533

207

2,732

2,415

3,579

2,431

7,483

3,785

621

123

37

245

15

230

87,065

32,766

54,299

941

6,025

8,056

12,047

9,092

26,209

4,895

12,278

1,612

5,506

404

72,424

27,842

44,582

734

4,254

6,596

9,461

7,903

20,039

4,313

12,065

1,320

5,376

363

187

187

19

’ ’ ’ 29

(3)

128

14,454

4,737

9,717

207

1,752

1,460

2,557

1,189

6,042

582

213

292

123

37

166

44

122

182,917

116,854

66,063

169,313

106,066

63,247

2.568

2.568

307

352

670

114

775

505

1

27

25

24

28

24

7

14

1

1

1

1

5

2,865

6.777

7,157

21,420

41,608

69,560

11,650

9,529

1,750

1,116

1,874

292

1.777

2,990

2.552

1,885

5,822

6,130

20,172

40,022

65,384

11,156

9,114

1,750

1,116

1,874

292

1,356

1,863

1,377

6

145

973

86

24

307

352

670

11,036

8,220

2,816

980

955

1,022

1,242

1,441

3,203

408

391

114

775

505

1 Differs from amount of principal disbursements as given in Table 120 by including unpaid insured deposits, expected to result in additional FDIC disbursement of $21 thousand

($2 thousand in 1937, $13 thousand in 1939, and $6 thousand in 1943).

2 Sum of losses in the cases in which the disbursement by the Corporation to protect depositors was not repaid in full. Excludes interest or gains in cases in which the disbursement

by the Corporation was fully recovered and gains or losses on assets purchased by the Corporation from receivers of closed banks. For the net loss of the Corporation, see the item,

“Losses incurred and reserves for losses," in note 1 to Table 12, p. 20.

* Less than $500.

FEDERAL DEPOSIT INSURANCE CORPORATION

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INDEX

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INDEX

Page

Absorptions, consolidations, and mergers:

Of insured banks, 1934-49. See Mergers of insured banks with financial aid 

of the Corporation.

Of operating banks, 1949.................................................................................126-127

Accounts in insured banks. See Insurance coverage.

Admission to insurance:

Applications approved....................................................................................... 12-14

By class of bank, 1949.....................................................................................126-127

Applications from banks:

For admission to insurance............................................................................... 12-14

For approval of establishment of branches...................................................... 13-15

Appraised value of assets. See Assets and liabilities of insured commercial banks, 

examiners’ appraisal.

Assessments on insured banks for deposit insurance..................................17-19, 23, 57

Assets and liabilities of closed banks. See Receivership, insured banks placed in.

Assets and liabilities of insured commercial banks, examiners’ appraisal (See

also Substandard assets of insured commercial banks):

Banks examined in 1941-1949.........................................................................152-153

Banks examined in 1949, grouped by amount of deposits........................... 154-155

Banks examined in 1949, grouped by FDIC district and State.................. 156-157

Change in recent years...................................................................................... 38

Definitions of terms: adjusted liabilities; appraised value; book value;

examiners’ deductions; assets not criticized; substandard assets....... 151

Sources of data................................................................................................... 151

Assets and liabilities of operating banks (See also Assets and liabilities of insured 

commercial banks, examiners’ appraisal; Capital of banks; Deposits;

Loans by banks; Securities):

*A.ll b& iiks *

Amount, by type, December 31, 1945, 1948-1949..................................... 30

By FDIC district and State, December 31, 1949....................................144-145

Changes during 1949.................................................................................... 29-30

Grouped according to insurance status and type of bank, June 30 and

December 31, 1949............................................................................... 140-143

Percentage composition, December 31, 1945, 1948-1949.......................... 30

Commercial banks, June 30 and December 31, 1949....................................140-143

Insured banks, December 31, 1948, June 30 and December 31, 1949........ 146-149

Insured commercial banks:

Amount, December 31, 1948, June 30 and December 31, 1949.140-143, 146-149 

Averages, by State, class of bank and deposit size of banks, 1949

................. ....................................................165, 169, 173, 175, 177, 179, 181

Averages of principal components, 1941-1949............................................ 161

Reports of...................................................................................................... 15-16

Insured mutual savings banks:

Amount, December 31, 1948, June 30 and December 31, 1949............. 146-149

Amount, June 30 and December 31, 1949................................................140-143

Averages of principal components, 1941-1949........................................... 183

Mutual savings banks:

Amount, by type and percentage change, December 31, 1945, 1948-1949 50

Amount, June 30 and December 31, 1949................................................140-143

Noninsured banks, June 30 and December 31, 1949.................................... 140-143

Sources of data................................................................................................... 139

Assets and liabilities of the Federal Deposit Insurance Corporation................. 18-24

195

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196 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Assets of insured banks, quality of. See Assets and liabilities of insured commercial banks, examiners’ appraisal; Substandard assets of insured 

commercial banks.

Assets pledged to secure bank obligations............................................................. 149

Assets purchased by the Federal Deposit Insurance Corporation:

From banks in receivership to facilitate liquidation....................................... 8, 24

From banks merged with financial aid of the Corporation. See Mergers of 

insured banks with financial aid of the Corporation.

Liquidation of.............................................................................................. .4, 8-9, 24

Bank supervision (See also Examinations of banks):

Activities of the Federal Deposit Insurance Corporation in 1949.............. 10-16

State legislation, 1949...................................................................................... 117-122

Banking offices, establishment of:

Banks, beginning operations, 1949................................................................. 29, 126

Branches, establishment approved by Corporation........................................ 13-14

Branches opened, 1949...................................................................................... 29, 127

Banking offices, number of. See Number of operating banks and branches.

Banking practices. See Unsafe and unsound banking practices.

Banks and branches ceasing operations:

All banks and branches, 1949................................................................... 29, 126-127

Branches of insured banks, 1949....................................................................... 127

Insured banks, 1949.........................................................................................126, 191

Noninsured banks, 1949.................................................................................. 126, 187

Banks in financial difficulties (See also Mergers of insured banks with financial 

aid of the Corporation; Receiverships, insured banks placed in):

Depositors protected by the Corporation in closed banks............................. 6-8

Depositors sustaining loss in closed insured banks, number o f...................... 6-7

Insured banks closed:

Deposits of.......................................................................................... (3-8, 188-191

Deposits protected........................................................................................ 6-8

Disbursements by the Corporation in connection with. .6-8, 188-189, 191-192

Loss to depositors......................................................................................... 6-8

Loss to Federal Deposit Insurance Corporation................................... 6-10, 192

Number, 1934-1949.....................................................6, 9-10, 188-189, 191-192

Methods of handling under existing law.......................................................... 3-5

Noninsured bank suspensions, 1949............................................................... 126, 187

Banks, number of. See Number of operating banks and branches.

Banks operating branches. See Banking offices, establishment of; Number of 

operating banks and branches.

Blanket bond coverage. See Fidelity bond coverage.

Board of Directors of the Federal Deposit Insurance Corporation............. iv, v, 16

Board of Governors of the Federal Reserve System, data obtained from___ 139, 159

Book value of bank assets and liabilities. See Assets and liabilities of insured 

commercial banks, examiners’ appraisal; Assets and liabilities of 

operating banks; Capital of banks.

Branches. See Banking offices, establishment of; Classification of banks and 

banking offices; Number of operating banks and branches.

Bureau of Internal Revenue, Commissioner’s ruling. See U. S. Treasury Department.

Capital of banks (See also Assets and liabilities of operating banks; Earnings 

and expenses of insured banks):

Examiners’ appraisal, insured commercial banks:

1941-1949............................................................................................. ....... 152-153

Banks grouped by amount of deposits, 1949........................................... 154-155

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Page

Capital of banks:—Continued

Examiners’ appraisal, insured commercial banks:—Continued

Banks grouped by FDIC district and State, 1949.................................. 156-157

Definition of terms used............................................................................. 151

Ratio of substandard assets to adjusted capital accounts................39, 156-157

Growth................................................................................................................ 36-38

Insured banks placed in receivership or merged with financial aid of the

Corporation........................................................................................... 190-191

Net additions as a proportion of net profits, insured commercial banks,

by State.................................................................................................... 46-48

Ratios to assets:

All commercial banks, December 31, 1945-1949..................................... 37

Insured banks. . .................................................147, 153, 155-157, 163, 167, 171

Insured commercial banks, by State, 1949................................................ 47-48

Insured commercial banks, distributed by, December 31, 1949.............. 37-38

Ratios to assets other than cash and U. S. Government obligations, all

commercial banks, December 31, 1945-1949...................:•••■•.......... ^7

Retirement of capital invested in banks by the Reconstruction Finance

Corporation............................................................................................ 11, 38

Total capital accounts:

Commercial and mutual savings banks, insured and noninsured, June 30

and December 31, 1949........................................................................141, 143

Composition of, all commercial banks, December 31, 1945-1949.......... 37

Insured banks, December 31, 1948, June 30 and December 31, 1949.. 149

Charge-offs by banks. See Earnings and expenses of insured banks.

Class of bank, banking data presented by:

Accounts and deposits in insured banks, September 30, 1949..........69, 83, 93, 107

Admissions to and terminations of insurance................................................ 126-127

Banks merged with financial aid of the Corporation, 1949............................ 191

Banks which suspended operations, 1934-1949......................................187-188, 191

Earnings of insured commercial banks...........................................................164-167

Number of banks and banking offices............................................................ 126-137

Ratios of earnings of insured commercial banks......................................... .166-167

Reserve method of accounting for bad debt losses on loans, used by insured commercial banks, 1948-1949...................................................... 43

Classification of banks and banking offices..........................................................124-125

Closed banks. See Banks and branches ceasing operations; Banks in financial 

difficulties; Receivership, insured banks placed in.

Commercial banks. See Assets and liabilities of insured commercial banks, 

examiners’ appraisal; Assets and liabilities of operating banks; Capital 

of banks; Deposits; Earnings and expenses of insured commercial 

banks; Insurance coverage; Number of operating banks and branches.

Commissioner of Internal Revenue, ruling on reserve for bad debt losses on 

loans. See U. S. Treasury Department.

Comptroller of the Currency:

Data obtained from......................................................................................... 139, 159

Director of Corporation...................................................................................iv, v, 16

Consolidations. See Absorptions, consolidations, and mergers.

Consumer loans. See Loans by banks.

Credit, bank, expansion of during 1949. See Deposits; Loans by banks.

Criticized assets. See Assets and liabilities of insured commercial banks, examiners’ appraisal.

Defalcation in banks.

Demand deposits. See Assets and liabilities of operating banks; Deposits, 

classified by type of deposit.

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Depositors (See also Insurance coverage):

Claims against closed insured banks. See Receivership, insured banks 

placed in.

Losses. See Banks in financial difficulties; Receivership, insured banks 

placed in.

Protected in insolvent or hazardous banks suspended or merged. See Blanks 

in financial difficulties.

Deposits (See also Insurance coverage):

Amount of, banks grouped by:

Accounts and deposits in insured banks, September 30, 1949.........

............. .................60-64, 71, 75, 82, 88, 89, 92, 98-99, 101, 103, 106, 109

Assets and liabilities of insured commercial banks examined in 1949. .154-155

Banks receiving financial aid from the Corporation......................... . 188

Disbursements for protection of depositors......................................... 188

Earnings data of insured commercial banks, 1949............................ . 168-169

Earnings ratios of insured commercial banks, 1949................................ 170-171

Business and personal. See Deposits, classified by type of deposit.

Changes in deposits, 1945 to 1949............................................................ . 30-32

Classified by type of deposit:

All banks, grouped by FDIC district and State......................................144-145

All banks, June 30 and December 31, 1949.............................................141, 143

All banks, semiannually, December 31, 1945-1949.................................... 31

Commercial banks, June 30 and December 31, 1949..............................141, 143

Insured banks, by type of bank, December 31, 1948, June 30 and

December 31, 1949................................................................................. 148

Mutual savings banks, December 31, 1949, by State.......................49, 136-137

Mutual savings banks, June 30 and December 31, 1949....................... 141, 143

Noninsured banks, by type of bank, June 30 and December 31, 1949. . 141, 143

Definition of deposits for assessment purposes................................................ 57

Demand. See Deposits, classified by type of deposit.

Form and instructions for summary of deposits, September 30, 1949. . . .110-113 

Government. See Deposits, classified by type of deposit.

Individuals, partnerships, and corporations. See Deposits, classified by 

type of deposit.

Insured and otherwise protected:

In banks merged with financial aid of the Corporation..................... 3, 5, 7-8

In banks placed in receivership................................................................... 6-8

Interbank. See Deposits, classified by type of deposit.

Interest on time and savings deposits..........................................40, 42-43, 160-180

Postal savings deposits. See Deposits, classified by type of deposit.

Preferred. See Deposits, secured and preferred.

Savings and time. See Deposits, classified by type of deposit.

Secured and preferred, in insured banks placed in receivership, 1934-1949. . 8

Sources of data.................................................................................................139, 151

Subject to offset. See Receivership, insured banks placed in.

Types of deposit accounts......................................................................... . 57

Uninsured deposits of insured banks placed in receivership.......................... 8

Deposits in:

All banks:

Banks grouped by FDIC district and State, December 31, 1949..........144-145

Banks grouped by insurance status, June 30 and December 31, 1949. .141, 143

By type of deposit, semiannually, December 31, 1945-1949.................... 31

June 30 and December 31, 1949...............................................................141, 143

Percentage expansion of business and personal deposits, by State,

December 31, 1945-1949........................................................................ 32

Banks for which the Corporation is receiver................................................... 7

Banks located in each State and possession, December 31, 1949. . 136-137, 144-145

Banks receiving financial aid from the Corporation.........................3, 5-8, 188-191

Commercial banks:

Banks grouped by insurance status and by FDIC district and State,

December 31, 1949............................................................................... 136-137

June 30 and December 31, 1949............................................................... 141, 143

Insured banks (See also Insurance coverage):

As percentage of deposits of all banks........................................................ 27

As percentage of deposits of all banks, by State, December 31, 1949. . 28 

Placed in receivership or merged with financial aid of the Corporation

....................................................................................................... 6-8, 188-191

1 98 FEDERAL DEPOSIT INSURANCE CORPORATION

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INDEX 199

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Deposits in:—Continued

Insured commercial banks:

At time of examination............................................................................. 152, 154

By FDIC district and State, December 31, 1949....................................136-137

December 31, 1948, June 30 and December 31, 1949............................... 148

Special call dates.......................................................................................... 57-113

Insured mutual savings banks:

By FDIC district and State, December 31, 1949....................................136-137

By State, December 31, 1949............................................................. 52, 136-137

December 31, 1948, June 30 and December 31, 1949............................... 148

Special call dates.......................................................................................... 57-113

Mutual savings banks:

By FDIC district and State, December 31, 1949....................................136-137

December 31, 1949, by State........................................................49, 52, 136-137

June 30 and December 31, 1949...............................................................141, 143

Noninsured banks:

By FDIC district and State, December 31, 1949.................................136-137

June 30 and December 31, 1949............................................................... 141, 143

Mutual savings banks, by State, December 31, 1949............................... 52

Depreciation. See Earnings and expenses of insured banks.

Dividends:

To depositors in mutual savings banks............................................53, 182, 184-185

To stockholders of operating insured commercial banks. See Earnings and 

expenses of insured banks.

Earnings and expenses of insured commercial banks:

Amounts of principal components:

Annually, 1934-1949..................................................................................... 41

Annually, 1941-1949...................................................................................160-161

By class of bank, 1949...............................................................................164-165

By deposit size of bank, 1949....................................................................168-169

By State, 1949............................................................................................ 172-181

Charge offs and recoveries:

Amounts, 1934-1949..................................................................................... 41, 44

Banks using reserve method of accounting for bad debt losses on loans,

by class of bank, 1948-1949................................................................... 43

Recoveries and profits on sale of assets...................................................... 45

Current operating earnings and expenses, 1949.............................................. 41—43

Income, sources and disposition of total, 1945-1949....................................... 40

Net profits after taxes:

Amounts................................................................. 41, 45, 161, 165, 169, 172-181

Disposition of, 1935-1949.........................................................................41, 45-46

Proportion retained in capital accounts, by State, 1949........................... 46-48

Ratios of earnings items:

Rates of income on loans and securities.................................... 42, 163, 167, 171

Rates of interest on time and savings deposits.........................42, 163, 167, 171

Rates of net profits and dividends on total capital accounts, by State,

1949.......................................................................................................... 46-48

Rates of service charges on demand deposits........................... 42, 163, 167, 171

To current operating earnings, total assets, and total capital accounts,

1941-1949..........................................................................................42,162

To current operating earnings, total assets, and total capital accounts,

by class and deposit size of bank, 1949.............................. 166-167, 170-171

Salaries and wages, 1949................................................................................... 42

Taxes, 1949.....................................................................................................41-42, 45

Valuation reserves, transfers to and from........... 43, 159, 160, 164-165, 172-180

Earnings and expenses of insured mutual savings banks:

Amounts of principal components, 1941-1949............................................... 182-183

Dividends to depositors, 1943-1949................................................................. 53

Income from loans and securities, 1943-1949.................................................. 53

Rates of income on loans and securities and dividends on deposits, 1941-

1949 ................................... ...................................................................53,185

Ratios of earnings and expense items to current operating earnings and

total assets, 1941-1949............................................................................ 184

Salaries and wages, 1949................................................................................... 53

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200 FEDERAL DEPOSIT INSURANCE CORPORATION

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Employees:

Federal Deposit Insurance Corporation........................................................... 17

Insured commercial banks:

Average salary, 1949.................................................................................... 42

Number and compensation, by State, class of bank and deposit size of

bank, December 31, 1949.....................................164-165, 168-169, 172-181

Number and compensation, 1941-1949.....................................................160-161

Insured mutual savings banks:

Average salary, 1949.................................................................................... 53

Number and compensation, 1941-1949.....................................................182-183

Examinations of banks (See also Assets and liabilities of insured commercial 

banks, examiners’ appraisal; Capital of banks):

Banks examined by the Federal Deposit Insurance Corporation, 1949 10

Changes in examination procedure................................................................... 10

Data from reports of examination..................................................................152-157

Definition of terms............................................................................................. 151

Expenses of banks. See Earnings and expenses of insured banks.

Expenses of the Corporation. See Federal Deposit Insurance Corporation.

Facilities provided as agents of the Government. See Number of operating 

banks and branches.

Failures. See Banks and branches ceasing operations; Receivership, insured 

banks placed in.

Federal bank supervisory authorities..................................................................... 10

Federal credit unions............................................................................................... 24

Federal Deposit Insurance Corporation:

Actions on applications from banks. See Applications from banks.

Assessments on insured banks...................................................................... 17-19, 23

Assets and liabilities.......................................................................................18-21, 23

Audits.................................................................................................................. 21-24

Banks examined by, and submitting reports to.............................................. 15

Bank supervisory activities............................................................................... 10-16

Board of Directors...........................................................................................iv, v, 16

Borrowing power................................................................................................ 24

Contingent liability in insuring bank deposits................................................ 57-59

Deposit insurance reserve.............................................................................20, 23-24

Depositors protected by. See Banks in financial difficulties.

Disbursements for protection of depositors..................... 3, 5-10, 188-189, 191-192

Districts.............................................................................................................. vi, vii

Divisions.............................................................................................................. iv, 17

Educational program for bank examiners........................................................ 11-12

Employees, number of...................................................................................... 17

Examination of banks. See Examinations of banks.

Federal credit union activities.......................................................................... 24

Form and instructions for summary of deposits........................................... 110-113

Income and expenses..................................................................................... 17-19, 23

Insured banks receiving financial aid from. See Banks in financial difficulties; 

Mergers of insured banks with financial aid of the Corporation; 

Receivership, insured banks placed in.

Insured deposits. See Deposits, insured and otherwise protected; Insurance 

coverage.

Loans to and purchase of assets from insured banks. See Mergers of insured 

banks with financial aid of the Corporation.

Losses incurred, 1934-1949...................................................... .9-10, 18-19, 192

Methods of protecting depositors. See Banks in financial difficulties.

Organization and staff............................................................................... iv, v, 16-17

Payments to insured depositors....................................................... 3, 5-6, 8-10, 188

Powers........................................................................................ ........................3-5, 24

Protection of depositors. See Banks in financial difficulties; Insurance 

coverage.

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Federal Deposit Insurance Corporation:—Continued

Purchase of assets to facilitate completion of liquidation of banks in receivership ................................................................................................. 8

Receiver for insured banks................................................................................ 7, 24

Recoveries...........................................................................................9-10, 18, 20, 192

Regulations......................................................................................................... 17

Reports from banks....................................................................................... 15-16, 57

Reserves for losses on assets acquired.............................................................. 20

Retirement of capital stock of the Corporation..........................................19, 21, 24

Supervisory activities......................................................................................... 10-16

Surplus (deposit insurance reserve).......................................................17-21, 23-24

Federal Deposit Insurance Corporation districts, banking data classified by:

Accounts and deposits in insured banks, September 30, 1949.....................

....................................................... 80, 84, 86, 90, 94, 96, 100, 102, 104, 108

Assets and liabilities.................................................................................................144

Assets and liabilities, examiners’ appraisal............................................................156

Number and deposits by type of bank............................................................ ......136

Federal Reserve System. See Board of Governors of the Federal Reserve System.

Fidelity bond coverage............................................................................................ 5, 11

Fixed and miscellaneous assets. See Assets and liabilities of insured commercial banks, examiners’ appraisal; Assets and liabilities of operating 

banks; Receivership, insured banks placed in.

Forms and instructions issued by the Federal Deposit Insurance Corporation.. 110-113

Income of insured banks. See Earnings and expenses of insured banks.

Income of the Federal Deposit Insurance Corporation. See Federal Deposit 

Insurance Corporation.

Insolvent banks. See Banks in financial difficulties.

Insurance, defalcation and fidelity......................................................................... 5, 11

Insurance coverage:

All insured banks, semiannual call dates, 1934-1949...................................... 61

All insured banks, special call dates:

Accounts and deposits, by class of bank, September 30, 1949................. 69

Accounts and deposits, by population of center, September 30, 1949... 65-66

Accounts and deposits, by size of bank, 1934-1949................................... 60-63

Accounts and deposits, total number and amount, September 30, 1949. . 59 

Accounts fully and partially protected with coverages of $5,000, $10,000,

and $25,000, 1934-1949........................................................................... 74

Accounts fully protected, by size of bank, 1936-1949............................... 64-65

Accounts fully protected with maximum coverages of $5,000, $10,000, 

and $25,000, accounts grouped by type of deposits, September 30,

1949.......................................................................................................... 77

Accounts protected and deposits insured, 1934-1949................................ 61

Accounts protected with coverages of $5,000, $10,000, and $25,000, banks

grouped by deposit size, September 30, 1949....................................... 75

Average size of account, by type of account, 1936-1949........................... 68

Deposit data from special survey compared with deposit data from

reports of condition, 1949...................................................................... 57-59

Deposit insurance protection under coverages of $5,000, $10,000, and

$25,000, September 30, 1949.................................................................. 72-74

Deposits, by size of bank, 1936-1949.......................................................... 63-64

Deposits, by type of account, 1936-1949.................................................... 68

Deposits insured and uninsured with coverages of $5,000, $10,000, and

$25,000, 1934-1949.................................................................................. 74

Deposits insured with coverages of $5,000, $10,000, and $25,000, accounts

grouped by type of deposit, September 30, 1949................................. 78

Deposits insured with coverages of $5,000, $10,000, and $25,000, banks

grouped by deposit size of bank, September 30, 1949......................... 75

Deposits insured with coverages of $5,000, $10,000, and $25,000, banks

grouped by population of center, September 30, 1949......................... 76

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202 FEDERAL DEPOSIT INSURANCE CORPORATION

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Insurance coverage:—Continued

All insured banks, special call dates:—Continued

Growth in total and insured deposits, 1934-1949...................................... 60

Information requested on special calls....................................................... 57

Insured deposits, by size of bank, 1936-1949............................................. 64

Number of accounts, by size of bank, 1936-1949...................................... 62

Number of accounts, by type of account, 1936-1949................................ 67

Number of insured banks, by size of banks, 1934-1949............................ 62

Proportion of accounts protected and deposits insured, by size of bank,

September 30, 1949................................................................................ 65

Insured commercial banks, special call dates:

Accounts distributed by size; banks grouped by amount of deposits, 

population of center, percent of deposits insured, class of bank, and

type of account, September 30, 1949.................................................... 82-83

Accounts distributed by size; banks grouped by FDIC district and by

State, September 30, 1949..................................................................... 80-81

Accounts protected and deposits insured with coverages of $5,000, 

$10,000, and $25,000; banks grouped by deposit size, population 

of center, percent of deposits insured, class of bank, and type of account, September 30, 1949...................................................................106-107

Accounts protected and deposits insured with coverages of $5,000, 

$10,000, and $25,000; banks grouped by FDIC district and State,

September 30, 1949...............................................................................104-105

Demand accounts, business and personal, distributed by size of account;

banks grouped by deposit size, September 30, 1949........................... 88

Demand accounts, business and personal, distributed by size of account;

banks grouped by FDIC district and State, September 30, 1949.... 84-85 

Demand deposits, business and personal, distributed by size of account;

banks grouped by deposit size, September 30, 1949........................... 98

Demand deposits, business and personal, distributed by size of account;

banks grouped by FDIC district and State, September 30, 1949.... 94-95

Deposits, by size of accounts, 1934-1949.................................................... 70

Deposits, by type, in banks grouped by size of bank..................... ......... 71

Deposits distributed by size of account; banks grouped by deposit size, 

population of center, percent of deposits insured, class of bank, and

type of account, September 30, 1949............................................ . 92-93

Deposits distributed by size of account; banks grouped by FDIC district

and State, September 30, 1949.............................................................. 90-91

Effect of increased coverage distributed among banks by proportion of

deposits insured under the $5,000 limitation...................................... 78-79

Number of accounts, by size of account, 1934-1949................................. 69

Savings and time accounts, business and personal, distributed by size of

account; banks grouped by deposit size, September 30, 1 9 4 9 ...... 89

Savings and time accounts, business and personal, distributed by size of 

account; banks grouped by FDIC district and State, September 30,

1949.......................................................................................................... 86-87

Savings and time deposits, business and personal, distributed by size of

account; banks grouped by deposit size, September 30, 1949......... 99

Savings and time deposits, business and personal, distributed by size of 

account; banks grouped by FDIC district and State, September 30,

1949.......................................................................................................... 96-97

Insured mutual savings banks, special call dates:

Accounts and deposits, grouped by size of account, 1945 and 1949.... 71 

Accounts distributed by size of account; banks grouped by FDIC 

district, State, deposit size of bank, population of center, and type of

account, September 30, 1949... .^........................................................100-101

Accounts protected and deposits insured with coverages of $5,000, 

$10,000, and $25,000; banks grouped by FDIC district, State, 

deposit size of bank, and population of center; accounts by type of

account, September 30, 1949......................................................; . ... 108-109

Deposits distributed by size of account; banks grouped by FDIC district,

State, deposit size of bank, population of center; accounts by type,

September 30, 1949.......................................................................... 102-103

Effect of increase in coverage...................................................................... 79

Reports from banks................................................................................... 15, 110-113

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Insured commercial banks not members of the Federal Reserve System. See

Class of bank, banking data presented by.

Insured commercial banks submitting reports to the Corporation..................... 15-16

Insured deposits. See Deposits, insured and otherwise protected; Insurance 

coverage.

Insured mutual savings banks. See Mutual savings banks.

Insured State banks members of the Federal Reserve System. See Class of 

bank, banking data presented by.

Insured status, banks classified by:

Assets and liabilities of, June 30 and December 31, 1949............................ 140-143

Changes in number of, 1949............................................................................126-127

Deposits of, December 31, 1949......................................................................136-137

In each State.................................................................................................... 128-137

Mutual savings banks, number and deposits, by State, December 31, 1949.. 52

Number of, December 31, 1949........................................................................ 27

Percentage of banks insured, by State, December 31, 1949........................... 28

Interbank deposits. See Deposits, classified by type of deposit.

Interest. See Earnings and expenses of insured banks.

Investments of banks. See Assets and liabilities of insured commercial banks, 

examiners’ appraisal; Assets and liabilities of operating banks; 

Securities.

Law, violations of by insured banks. See Unsafe and unsound banking practices.

Legislation related to banking and deposit insurance:

Federal, enacted in 1949:

Salary increase for members of the board of directors, FDIC............. 16

Reorganization of the agencies in the Executive Department of the

Government............................................................................................ 16

State, enacted in 1949......................................................................................117-122

Liquidation, banks placed in.................................................................................. 126

Loans by banks. {See also Assets and liabilities of operating banks):

Agricultural, 1945-1949...................................................................................... 34

Changes in composition of loan portfolio, 1945-1949...................................... 32-33

Commercial and industrial................................................................................ 32-33

Consumer, 1945-1949......................................................................................... 34-35

Expansion, by State, 1945-1949 ....................................................................... 33

Guaranteed by Federal Government, by type, 1947-1949............................. 34-35

Income and charge-offs on............................................................................ 41, 43-44

On securities....................................................................................................... 33

Provision for losses....................................................................................43, 139, 159

Rate of income on......................................................... 42, 52-53, 163, 167, 171, 185

Real estate, 1945-1949....................................................................................... 34

Substandard..........................................................................................38-39, 152-155

Loans to insolvent or hazardous insured banks by Federal Deposit Insurance 

Corporation. See Mergers of insured banks with financial aid of 

the Corporation.

Losses:

Of banks charged off. See Earnings and expenses of insured banks.

Of depositors. See Banks in financial difficulties; Receivership, insured 

banks placed in.

Of the Federal Deposit Insurance Corporation. See Federal Deposit Insurance Corporation.

Provision for, in banks.............................................................................. 43, 159-185

Mergers. See Absorptions, consolidations, and mergers; Banks in financial 

difficulties; Mergers of insured banks with financial aid of the 

Corporation.

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Mergers of insured banks with financial aid of the Corporation (See also Banks

in financial difficulties):

Assets and liabilities at date of merger, 1934-1949.......................................190-191

Banks cited for unsafe and unsound practices................................................ 13

Deposits protected................................................................................... 3-8, 188-191

Disbursements by Corporation...........................................................3, 5-8, 188-192

Loans made and assets purchased by Corporation.........................................4-5, 24

Losses incurred by Corporation..................................................... 6-7, 9-10, 24, 192

Name and location of banks merged, 1949...................................................... 191

Number of banks merged............................................................3, 6-9, 188-189, 192

Number of depositors affected by.................................................. 5-7, 188-189, 191

Recoveries by the Corporation on assets purchased or held as collateral.9, 24, 192 

Sources of data................................................................................................... 187

Methods of tabulating banking data:

Assets and liabilities of operating banks.......................................................... 139

Deposit insurance disbursements..................................................................... 187

Earnings, expenses, profits, and dividends of insured banks......................... 159

Examiners’ evaluation of insured commercial banks...................................... 151

Number, offices, and deposits of operating banks........................................ 124-125

Mutual savings banks (See also Insurance coverage):

Insured:

Assets and liabilities, December 31, 1948, June 30 and December 31,

1949........................................................................................................148-149

Number and deposits, December 31, 1948, June 30 and December 31,

1949........................................ .............................................................. 148-149

Earnings, expenses, profits, and dividends.................................. 52-53, 182-185

Insured and noninsured:

Assets and liabilities, June 30 and December 31, 1949...........................140-143

Number and deposits, by State, December 31, 1949..................51-52, 136-137

Total:

Assets and liabilities, December 31, 1945, 1948, and 1949....................... 50

Number and deposits, by State, December 31, 1949................................ 49

U. S. Government obligations held by, distribution by maturity, December 31, 1947-1949.................................................................................... 51

National banks. See Class of bank, banking data presented by.

Net earnings of insured commercial banks. See Earnings and expenses of 

insured banks.

Net profits of insured commercial banks. See Earnings and expenses of insured 

banks.

Net sound capital of insured commercial banks. See Capital of banks.

New banks. See Banking offices, establishment of.

Noninsured banks. See Absorptions, consolidations, and mergers; Admission 

to insurance; Assets and liabilities of operating banks; Capital of 

banks; Class of bank, banking data presented by; Deposits; Number 

of operating banks and branches.

Number of operating banks and branches:

A.11 banks and branches *

By class of bank, FDIC district and State, December 31,1949.128-137,144-145

By type and insurance status, December 31, 1949........................... . 27

June 30, 1949................................................................................................ 141

Branches, by class of bank and State, December 31, 1949.................. ....... 128-135

Changes by type of change and class of bank during 1949................... 29, 126-127

Insured banks:

Admissions to insurance.......................................................................14, 126-127

Branches, approval of, by Corporation............................................. ......... 13-15

December 31, 1948, June 30 and December 31, 1949..................... ......... 27, 149

Grouped by amount of deposits, special call dates, 1934-1949............. 62

Termination of insurance........................................................................ 7, 13, 126

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Number of operating banks and branches:—Continued 

Insured commercial banks:

By FDIC district and State, December 31, 1949....................................136-137

By ratio of total capital accounts to total assets, December 31, 1949. .. 37

Examined in 1941-1949................................................................................ 153

Examined in 1949, by amount of deposits................................................. 155

Examined in 1949, by FDIC district and State......................................156-157

Operating throughout 1949, by amount of deposits............................... 169, 171

Using reserve method of accounting for bad debt losses on loans, by

class of bank, December 31, 1948-1949................................................ 43

Mutual savings banks. See Mutual savings banks.

Noninsured banks:

By class of bank, FDIC district, and State, December 31, 1949.......... 136-137

Failures during 1949..................................................................................... 187

Unit banks, by class of bank and State, December 31, 1949.......................128-135

Officers, of insured banks. See Employees.

Officers and employees of the Federal Deposit Insurance Corporation.......... 16-17

Operating banks. See Number of operating banks and branches.

Payments to depositors in closed insured banks. See Receivership, insured 

banks placed in.

Population of center, data on insurance coverage distributed according to size

of center.................................................. 65-66, 76, 82, 92, 101, 103, 106, 109

Possessions, banks and branches located in:

Assets and liabilities, December 31, 1949...................................................... 144-145

Deposits of, December 31, 1949......................................................................136-137

Earnings, expenses, profits, and dividends, 1949.......................................... 172-173

Number of, December 31, 1949........................................................................ 135

Postal savings deposits. See Deposits, classified by type of deposit.

Preferred deposits. See Deposits, secured and preferred.

Profits. See Earnings and expenses of insured banks.

Protection of depositors. See Banks in financial difficulties; Deposits, insured 

and otherwise protected; Insurance coverage; Mergers of insured 

banks with financial aid of the Corporation.

Public funds. See Deposits, classified by type of deposit.

Publications of the Corporation............................................................................. 15

Purchase of bank assets by Corporation. See Assets purchased by the Federal 

Deposit Insurance Corporation.

Real estate, loans on. See Loans by banks.

Receivership, insured banks placed in {See also Banks in financial difficulties):

Activities of the Corporation as receiver of..................................................... 7, 24

Assets and liabilities of, at dates of suspension, cumulative, 1934-1949.... 190

Depositors’ losses................................................................................................ 6-8

Deposits:

Amounts, 1934-1949.................................................................................. 7, 8, 188

Insured, paid and unpaid by December 31, 1949...................................... 8

Secured, preferred, and subject to offset.................................................... 8

Disbursements by the Corporation..............................5, 6, 7-10, 188-189, 191, 192

Losses by the Corporation on disbursements.......................................... 6, 7-10, 192

Number of banks...................................................................6, 7, 9-10, 188-189, 192

Payments to depositors..................................................................................... 6-8

Recoveries by the Corporation on disbursements.......................................9-10, 192

Sources of data................................................................................................... 187

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Reconstruction Finance Corporation, capital of insured banks held by:

Amount outstanding........................................ .................................................. 38

Decreases in RFC and other preferred capital................................................ 11

Recoveries:

By banks on assets charged off. See Earnings and expenses of insured banks.

By the Corporation on disbursements.............................................9-10, 18, 20, 192

Regulations and rulings issued by Federal Deposit Insurance Corporation. . . . 17

Reports from banks................................................................................................. 15-16

Reserves:

For bad debt losses on loans, ruling of Commissioner of Internal Revenue

...................... .. . . . ............................................................. ........ 43, 139, 159

In bank assets and liabilities. See Assets and liabilities of operating banks.

Of Federal Deposit Insurance Corporation, for losses.................................... 20

Surplus (deposit insurance reserve) of the Corporation.......................17-21, 23-24

Salaries and wages:

Federal Deposit Insurance Corporation........................................................... 18

Insured banks. See Earnings and expenses of insured banks.

Savings and time deposits. See Deposits, classified by type of deposit.

Secured and preferred deposits. See Deposits, secured and preferred; Receivership, insured banks placed in.

Securities {See also Assets and liabilities of operating banks):

Charge-offs on securities held by insured commercial banks......................... 43-45

Held by Federal Deposit Insurance Corporation..................................18-20, 23-24

Held by insured banks placed in receivership or merged with financial

aid of the Corporation, 1934-1949......................................................... 190

Held by insured commercial banks. See Assets and liabilities of insured 

commercial banks, examiners’ appraisal.

Held by operating banks. See Assets and liabilities of operating banks.

Interest on securities held by banks. See Earnings and expenses of insured 

banks.

Profits on securities sold by insured banks. See Earnings and expenses of 

insured banks.

United States Government obligations, held by:

Federal Deposit Insurance Corporation...........................................18-20, 23-24

Insured banks placed in receivership or merged with financial aid of

the Corporation...................................................................................... 190

Insured commercial banks, amounts and percentage distribution by

maturities, December 31, 1941-1949................ ................................. .. 35-36

Mutual savings banks, amounts and percentage distribution by maturities, December 31, 1941-1949................................................................ 51

Size of accounts. See Insurance coverage.

Size of banks, banks classified by. See Deposits, amount of, banks grouped by.

Sources of data..................................................................................15, 16, 139, 151, 159

State and local government obligations. See Assets and liabilities of operating 

banks.

State bank supervisory authorities:

Data obtained from........................................................................................... 16,139

State legislation regarding................................................................................. 117

State, banking data classified by:

Accounts and deposits in insured banks, September 30, 1949.....................

....................................... 80-81, 84-87, 90-91, 94-97, 100, 102, 104-105, 108

Assets and liabilities of operating banks, December 31, 1949......................144-145

Capital, ratio to assets, insured commercial banks, December 31, 1949. .. 47-48 

Deposits, December 31, 1949:

Commercial banks, insured and noninsured............................................ 136-137

Mutual savings banks, December 31, 1949................................................ 49, 52

Mutual savings banks, insured and noninsured...................................... 136-137

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State, banking data classified by:—Continued

Deposits, percentage change in business and personal deposits of all banks,

December 31, 1945-1949........................................................................ 32

Disbursements by the Corporation, cumulative, 1934-1949.........................188-189

Dividends as a proportion of total capital accounts, 1949............................. 47

Earnings and expenses of insured commercial banks, 1949 ....................... 172-183

Expansion of total loans in all banks, 1945-1949............................................ 33

Insured commercial banks examined in 1949................................................ 156-157

Net additions to capital as a proportion of net profits, 1949......................... 46-48

Net earnings and net profits of insured commercial banks, rates of, 1949. . 172-181 

Net profits after taxes as a proportion of total capital accounts, 1949. .. . 46-48

Number and deposits of mutual savings banks, December 31, 1949............ 49

Number of operating banks or offices, December 31, 1949:

All banking offices, by class of bank and type of office.........................128-135

Commercial banks, insured and noninsured............................................ 128-137

Mutual savings banks, insured and noninsured.......................... 51-52, 128-137

Proportion of banks insured, December 31, 1949.............................28, 52, 128-135

State banking legislation enacted in 1949............................................................117-122

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.

Substandard assets of insured commercial banks. (See also Assets and liabilities 

of insured commercial banks, examiners’ appraisal):

By type and percentage of total assets, 1939-1949......................................... 39

Changes in recent years.................................................................................... 38

Fixed and miscellaneous........................................................................... 39, 152, 154

Loans.......................................................................................................... 39, 152, 154

Ratios to capital accounts:

By State, 1949............................................................................................156, 157

Change, 1939-1949........................................................................................ 39

Relative to total assets............................................................................. 39, 153, 155

Securities.................................................................................................... 39, 152, 154

Supervision. See Bank supervision.

Suspensions. See Banks and branches ceasing operations; Receivership, insured 

banks placed in.

Taxes paid by insured banks. See Earnings and expenses of insured banks.

Terminations of insurance for unsafe and unsound practices.............................. 13

Time and savings deposits. See Deposits, classified by type of deposit.

Trust companies:

Classification o f................................................................................................ 124-125

Noninsured, not engaged in deposit banking................................................ 126-143

Type of bank, banking data distributed by:

Assets and liabilities.........................................................................140-143, 146-149

Number of banks and total deposits, by FDIC district and State, December

31, 1949..................................................................................................136-137

Unit banks. See Number of operating banks and branches.

United States Government obligations. See Assets and liabilities of insured 

commercial banks, examiners’ appraisal; Assets and liabilities of 

operating banks; Securities.

United States Treasury Department, Commissioner of Internal Revenue,

Ruling on reserves for bad debt losses on loans..........................43, 139, 159

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Unsafe and unsound banking practices:

Actions of the Corporation................................................................................ 12-13

Number of banks cited...................................................................................... 12-13

Type of practice or violation............................................................................. 12

Unsecured deposits. See Receivership, insured banks placed in.

Valuation reserves. (See also Earnings and expenses of insured commercial

banks)............................................................................. 43, 139, 142, 147, 159

Violations of law or regulations, banks charged with. See Unsafe and unsound 

banking practices.

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Federal Reserve Bank of St. Louis