ANNUAL REPORT

OF THE

Federal Deposit Insurance Corporation

FOR THE YEAR ENDED

DECEMBER 31, 1963

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Federal Reserve Bank of St. Louis
LETTER OF TRANSMITTAL

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

Washington, D. C., June 4, 1964

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

Deposit Insurance Act, the Federal Deposit Insurance Corporation is 

pleased to submit its annual report.

Respectfully,

J o s e p h W. B a r r , Chairman

T h e P r e s id e n t P ro 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

550 17th Street, N.W ., W a s h in g t o n , D.C. 20429

BOARD OF DIRECTORS

Joseph W . B arr

Jam es J. Saxo n

K . A. R andall

Chairman .................................

Comptroller of the Currency

D irector......................................

OFFICIALS—June 4, 1964

Assistant to the Chairman............................................................ Timothy J. Reardon, Jr.

Special Assistant to the Chairman............................................John F. Lord

Assistant to the Director.................................................................John F. Lee

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

General Counsel................................................................................. William M . Moroney

Controller ............................................................................................Edward F. Phelps, Jr.

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

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

Chief, Audit Division.....................................................................James J. Bogart

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

Assistant to the Board.....................................................................Frank E. Tracy

Assistant to the Board.....................................................................Raoul D. Edwards

V

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Federal Reserve Bank of St. Louis
DISTRICT OFFICES

D is t . S upervising

No. E x a m in e r

1. Claude C. Phillippe

2. Philip C. Lods

3. Lewis S. Rough, Jr.

4. Lundie W . Barlow

5. Roger C. Eaglet on

6. G. E. Mounts

7. William T. Hammill

8. D. E. Wilkins

9. Roger B. West

Acting Supervising

Examiner

10. Stanley Pugh

11. Lloyd Thomas

12. Walter W . Smith

A ddress

Room 1365, No. 10 P.O.

Square, Boston, Mass.

02109

74 Trinity Place,

New York, N . Y.

10006

Suite 500,

50 West Gay Street,

Columbus, Ohio

43215

403 East Grace St.,

Richmond, Ya.

23219

1000 Bank of Georgia

Building, Atlanta, Ga.

30303

1059 Arcade Building,

St. Louis, Mo. 63101

715 Tenney Building,

Madison, Wis. 53703

164 W . Jackson Blvd.,

Chicago, 111. 60604

950 Federal Reserve

Bank Building,

Minneapolis, Minn.

55440

1207 Federal Reserve

Bank Building,

Kansas City, Mo. 64106

Federal Reserve Bank

Building, Station K,

Dallas, Texas 75222

Suite 1700, 582 Market

Street, San Francisco,

Calif. 94104

States in D istrict

Maine, New Hampshire,

Vermont, Massachusetts,

Rhode Island,

Connecticut

New York, New Jersey,

Delaware, Puerto Rico,

Virgin Islands

Ohio, Pennsylvania

District of Columbia,

Maryland, Virginia,

West Virginia, North

Carolina, South Carolina

Georgia, Florida, Alabama,

Mississippi

Kentucky, Tennessee,

Missouri, Arkansas

Indiana, Michigan,

Wisconsin

Illinois, Iowa

Minnesota, North Dakota,

South Dakota, Montana

Nebraska, Kansas,

Oklahoma, Colorado,

Wyoming

Louisiana, Texas,

New Mexico, Arizona

Idaho, Utah, Nevada,

Washington, Oregon,

California, Alaska,

Hawaii, Guam

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Federal Reserve Bank of St. Louis
V ll

FEDERAL DEPOSIT INSURANCE CORPORATION DISTRICTS

1/4 U.S. Seal

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Federal Reserve Bank of St. Louis
CONTENTS

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

Part One

Operations of the Corporation

Deposit insurance participation and coverage............................................................... 3

Insurance operations to protect depositors of failing banks...................................... 3

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

Legal developments ................................................................................................................. 11

Administration of the Corporation...................................................................................... 12

Finances of the Corporation.................................................................................................. 14

Part Two

Commercial Banks Closed Because of Financial Difficulties, 1934-1962

Commercial banks closed because of financial difficulties, 1934-1962 ................... 27

Part Three

Legislation and Regulations

Federal legislation ................................................................................................................... 45

Rules and regulations of the Corporation......................................................................... 45

State banking legislation........................................................................................................ 47

Part Four

Banking Developments

Supervisory status of banks.................................................................................................. 55

Changes in number of banking offices, and in bank assets and liabilities............ 58

Growth in bank deposits from June 30, 1961 to June 29, 1963............................... 59

Income of insured banks...................................................................................................... 74

Part Five

Statistics of Banks and Deposit Insurance

Bank absorptions approved by the Corporation............................................................. 80

Number, offices, and deposits of banks........................................................................... 80

Assets and liabilities of banks.............................................................................................. 128

Income of insured banks...................................................................................................... 150

Deposit insurance disbursements.......................................................................................... 178

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LIST OF CHARTS

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

Federal Deposit Insurance Corporation districts (m ap).............................................. vii

LIST OF TABLES

Part One

Operations of the Corporation

I nsurance operations to protect depositors of failing b a n k s :

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

Federal Deposit Insurance Corporation, 1934-1963........................................ 4

2. Analysis of disbursements, recoveries and losses in insurance transactions,

January 1, 1934-December 31, 1963....................................................................... 5

Supervisory activities :

3. Applications acted upon by the Board of Directors of the Federal

Deposit Insurance Corporation during 1963.................................................... 7

4. Mergers, consolidations, acquisitions of assets and assumptions of liabilities approved under Section 18(c) of the Federal Deposit Insurance

Act during 1963........................................................................................................... 8

5. Bank examination activities of the Federal Deposit Insurance Corporation in 1962 and 1963................................................................................................ 9

6. Actions to terminate insured status of banks charged with unsafe or

unsound banking practices or violations of law or regulations, 1936-

1963 .................................................................................................................................. 10

A d m in istra tio n of th e corporation :

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

Corporation, December 31, 1963........................................................................... 13

F in an ces of th e corporation :

8. Statement of financial condition, Federal Deposit Insurance Corporation, December 31, 1963............................................................................................ 15

9. Statement of income and deposit insurance fund, Federal Deposit Insurance Corporation, year ended December 31, 1963.......................................... 16

10. Determination and distribution of net assessment income, Federal Deposit Insurance Corporation, year ended December 31, 1963..................... 17

11. Sources and application of funds of the Federal Deposit Insurance Corporation for the calendar year 1963..................................................................... 17

12. Income and expenses, Federal Deposit Insurance Corporation, by years,

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

1963, adjusted to December 31, 1963................................................................... 18

13. Insured deposits and the deposit insurance fund, 1934-1963........................... 19

14. Report on examination of financial statements of Federal Deposit Insurance Corporation, year ended June 30, 1963.................................................... 20

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Federal Reserve Bank of St. Louis
Part Two

Commercial Banks Closed Because of Financial Difficulties, 1934-1962

Page

15. Number and deposits of commercial banks closed because of financial

difficulties, 1934-1962, by years............................................................................... 28

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

in commercial banks closed because of financial difficulties, 1934-1962,

by years ......................................................................................................................... 29

17. Relation to operating banks of the number, deposits, and losses on

deposits of commercial banks closed because of financial difficulties,

1934-1962 ....................................................................................................................... 30

18. Number and deposits of operating commercial banks, 1934-1962, by insurance status ............................................................................................................. 31

19. Results of liquidation of noninsured commercial banks closed because of

financial difficulties, 1934-1962 by years............................................................. 32

20. Results of liquidation of noninsured commercial banks closed because of

financial difficulties, 1934-1962, by States........................................................... 33

21. Distribution of noninsured commercial banks closed because of financial

difficulties, 1934-1962, by percentage of liabilities paid, and by percentage dividends on common claims............................................................... 34

22. Location, name, amount of deposits, liabilities paid, and loss on common claims, noninsured commercial banks closed because of financial

difficulties, 1934-1962 ................................................................................................ 36

23. Insured banks closed because of financial difficulties without disbursements by the Federal Deposit Insurance Corporation, 1934-1962.......... 42

Part Four

Banking Developments

Supervisory status of b a n k s :

24. Classification of banks according to supervisory status and Federal

deposit insurance participation, December 31, 1963.................................... 55

25. Assets of banks classified according to supervisory status and Federal

deposit insurance participation, December 20, 1963.................................... 56

26. Deposits of banks classified according to supervisory status and Federal

deposit insurance participation, December 20, 1963.................................... 57

27. Ratios of capital accounts to assets of banks of deposit classified according to supervisory status and Federal deposit insurance participation,

December 20, 1963 .................................................................................................. 58

G ro w th in b a n k deposits from ju n e 30, 1961, to ju n e 29, 1963:

28. Analysis of changes in number of banks and branches in the United

States (States and other areas), during the years 1961, 1962 and 1963 60

29. Amounts and percentages of major categories of assets and liabilities of

all banks in the United States (States and other areas), at year-end

call dates, 1961-1963 .................................................................................................. 61

30. Percentage changes in major categories of assets and liabilities of all

banks in the United States (States and other areas), year-end call

dates 1961-1962, 1962-1963, and 1961-1963........................................................ 62

31. Number of banks in the United States (States and other areas), operating throughout the period from June 30, 1961, to June 29, 1963,

distributed by percentage changes in total deposits. . ............... 64

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Federal Reserve Bank of St. Louis
32. Number of banks in the United States (States and other areas), distributed by percentage change in total deposits from June 30, 1961

to June 30, 1962, and from June 30, 1962, to June 29, 1963

Banks grouped according to insurance status and type of bank.......... 65

33. Number of commercial banks in the United States (States and other

areas), distributed by percentage change in total deposits from June

30, 1961 to June 30, 1962, and from June 30, 1962, to June 29, 1963

Banks grouped according to amount of deposits................................... 66

34. Number of mutual savings banks in the United States (States and other

areas), distributed by percentage change in total deposits from June 30,

1961, to June 30, 1962, and from June 30, 1962, to June 29, 1963

Banks grouped according to amount of deposits........................................ 67

35. Number of banks in the United States (States and other areas), distributed by percentage change in total deposits from June 30, 1961,

to June 30, 1962, and from June 30, 1962, to June 29, 1963

Banks grouped according to Federal Deposit Insurance Corporation

Districts ................................................................................................................... 68

36. Number of banks in the United States (States and other areas), distributed by percentage change in total deposits from June 30, 1961 to

June 30, 1962, and from June 30, 1962, to June 29, 1963

Banks grouped according to population of center in which main office is located ........................................................................................................ 69

37. Number of commercial banks in the United States (States and other

areas), distributed by percentage change in total deposits from June

30, 1961, to June 30, 1962, and from June 30, 1962, to June 29, 1963

Banks grouped according to ratio of demand deposits to total

deposits ................................................................................................................... 70

38. Number of commercial banks in the United States (States and other

areas), distributed by percentage changes in total deposits and in loans

from June 30, 1961, to June 30, 1962, and from June 30, 1962, to

June 29, 1963............................................................................................................... 71

39. Number of mutual savings banks in the United States (States and other

areas), distributed by percentage changes in total deposits and in loans

from June 30, 1961, to June 30, 1962, and from June 30, 1962, to June

29, 1963 ....................................................................................................................... 72

I n com e of insured b a n k s :

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

United States (States and other areas), 1961-1963........................................ 74

41. Percentage distribution of sources and disposition of total income, insured commercial banks in the United States (States and other areas),

1961-1963 ..................................................................................................................... 75

42. Selected operating ratios of insured commercial banks in the United

States (States and other areas), 1961-1963.................................................... 75

43. Distribution of insured commercial banks operating throughout 1963 by

deposit size of bank, and percentages of selected banking totals in

each size group, 1963.............................................................................................. 76

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

in the United States, 1961-1963........................................................................... 76

45. Percentage distribution of sources and disposition of total income, insured mutual savings banks in the United States, 1961-1963................... 77

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Federal Reserve Bank of St. Louis
Part Five

Statistics of Banks and Deposit Insurance

B a n k absorptions approved by t h e corporation:

101. Description of each merger, consolidation, acquisition of assets, or

assumption of liabilities approved by the Corporation during 1963... 82

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

Explanatory note ................................................................................................................... 80

102. Changes in number and classification of banks and branches in the

United States (States and other areas), during 1963............................... 116

103. Number of banking offices in the United States (States and other areas),

December 31, 1963

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

State or area and type of office................................................................. 118

104. Number and deposits of all banks in the United States (States and other

areas), December 20, 1963

Banks grouped according to insurance status and by district and

State ................................................................................................................... 126

A ssets and liabilities of b a n k s :

Explanatory note ................................................................................................................. 128

105. Assets and liabilities of all banks in the United States (States and other

areas), June 29, 1963

Banks grouped according to insurance status and type of bank.... 130

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

areas), December 20, 1963

Banks grouped according to insurance status and type of bank.... 132

107. Assets and liabilities of all banks in the United States (States and other

areas), December 20, 1963

Banks grouped by district and State.......................................................... 134

108. Assets and liabilities of all insured banks in the United States (States

and other areas), call dates June 30, 1961 through December 20, 1963.. 136

109. Assets and liabilities of insured commercial and insured mutual savings

banks in the United States (States and other areas), call dates September 28, 1962 through December 20, 1963................................................ 140

110. Average assets and liabilities and assets and liabilities per $100 of total

assets of insured commercial banks in the United States (States and

other areas), 1963

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

111. Assets and liabilities and assets and liabilities per $100 of total assets of

insured commercial banks operating throughout 1963 in the United

States (States and other areas), December 20, 1963

Banks grouped according to amount of deposits.................................... 145

112. Average assets and liabilities of insured commercial banks in the United

States (States and other areas), by State, 1963........................................ 146

113. Distribution of insured commercial banks in the United States (States

and other areas), December 20, 1963

Banks grouped according to amount of deposits and by ratios of

selected items to assets ............................................................................. 148

I n com e of insured b a n k s :

Explanatory note ................................................................................................................... 150

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114. Income of insured commercial banks in the United States (States and

other areas), 1955-1963 ........................................................................................ 152

115. Ratios of income of insured commercial banks in the United States

(States and other areas), 1955-1963................................................................. 154

116. Income of insured commercial banks in the United States (States and

other areas), 1963

By class of bank ................................................................................................ 156

117. Ratios of income of insured commercial banks in the United States

(States and other areas), 1963

B y class of ba n k.................................................................................................. 158

118. Income of insured commercial banks operating throughout 1963 in the

United States (States and other areas)

Banks grouped according to amount of deposits.................................... 160

119. Ratios of income of insured commercial banks operating throughout

1963 in the United States (States and other areas)

Banks grouped according to amount of deposits.................................... 162

120. Income of insured commercial banks in the United States (States and

other areas), by State, 1963................................................................................. 164

121. Income of insured mutual savings banks, 1955-1963.................................... 174

122. Ratios of income of insured mutual savings banks, 1955-1963................... 176

D eposit in su ra n ce d isb u r se m e n t s:

Explanatory note ................................................................................................................. 178

123. Depositors, deposits, and disbursements in insured banks requiring disbursements by the Federal Deposit Insurance Corporation, 1934-1963

Banks grouped by class of bank, year of deposit payoff or deposit

assumption, amount of deposits, and State.......................................... 180

124. Insured banks requiring disbursements by the Federal Deposit Insurance Corporation during 1963........................................................................... 182

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

principal disbursements for protection of depositors, 1934-1963.......... 183

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Federal Reserve Bank of St. Louis
SUMMARY

The 13,621 banks which were insured by the Federal Deposit Insurance Corporation on December 31, 1963, constituted about 97 percent of 

the 14,092 operating banks. (P. 3.)

Total deposits in insured banks on December 20, 1963, amounting to 

$313,304 million, were nearly 98 percent of deposits in all banks. The 

deposit insurance fund, which on December 31, 1963, amounted to 

$2,667.9 million, was equal to about 0.85 percent of the deposits in 

insured banks. (P. 19.)

In 1963, the Corporation made disbursements of about $19 million to 

protect depositors in the two insured banks failing during the year. This 

brings to 447 the number of cases which, since the beginning of Federal 

deposit insurance on January 1, 1934, required disbursements by the 

Corporation to protect depositors in failing banks. (Pp. 3, 5.)

Since the beginning of Federal deposit insurance, 125 noninsured commercial banks have closed because of financial difficulties. This represents an average of about 5 failures per year for each 1,000 noninsured 

banks in operation, while for insured banks the corresponding rate was 

1 per year for each 1,000 banks. (Pp. 27, 31.)

A total of 28,369 banking offices were in operation in the United States 

on December 31, 1963. There were 14,092 banks operating at the close 

of the year, 141 more than a year earlier, while branches increased by 

1,199 to 14,277. This was the first year since 1947 that the number of 

banks increased. (Pp. 58, 60.)

Total assets of all banks in the United States amounted to $363,678 

million on December 20,1963, up 5.6 percent from the total on December 

28, 1962. Slightly less than one-half of the assets were held by national 

banks, while State banks which were members of the Federal Reserve 

System held approximately one-fourth the assets, and insured State 

banks not members of the Federal Reserve System held about an equal 

share. Noninsured banks held about two and one-half percent of the 

assets of all banks. (Pp. 56, 59.)

During 1963, cash and funds due from banks and obligations of the 

United States Government continued to increase less rapidly than total 

assets of all banks. Other securities and loans became an increasing proportion of the total. Demand deposits of individuals, partnerships, and 

corporations increased less rapidly than total deposits, but time and 

savings deposits of these depositors grew more rapidly than total deposits. At the close of 1963, capital accounts equaled 8.2 percent of the 

assets of all banks (Pp. 59, 61.)

Total income of insured commercial banks was $13,978 million in 1963, 

compared with $12,686 million in 1962. Dividends to stockholders 

amounted to $993 million, and additions to capital accounts from income 

totaled $1,159 million. (P. 74.)

Part 334 of the Corporation’s rules and regulations was adopted 

effective April 3, 1963. This implements the provisions of the Bank 

Service Act (76 Stat. 1132), approved October 23, 1962, and prescribes 

rules with respect to arrangements for the performance of bank services 

for insured State nonmember banks. Section 329.6 of the rules and regulations was amended, effective July 17, 1963, raising to 4 percent the 

maximum permissible rate which insured banks not members of the 

Federal Reserve System may pay on time deposits having a maturity 

date of less than 12 months and not less than 90 days from the date of 

deposit or payable upon written notice of less than 12 months and not 

less than 90 days. (Pp. 11, 45.)

XV

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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS OF THE CORPORATION

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Federal Reserve Bank of St. Louis
D e p o s it I n s u r a n c e P a r t ic ip a t io n a n d C o v e r a g e

Participation in Federal deposit insurance. Federal deposit insurance became effective January 1, 1934. Through most of the period 

since that date more than nine-tenths of the banks in the United States 

have been insured by the Corporation. The 13,621 banks which were 

insured on December 31, 1963, constituted about 97 percent of the 

14,092 operating banks.

Incorporated banks and trust companies which are engaged in the 

business of receiving deposits may participate in Federal deposit insurance. State banks which are not members of the Federal Reserve 

System may become insured banks if, after application to and examination by the Corporation, they are approved by the Board of Directors. National banks become insured without application to the Corporation when they are authorized by the Comptroller of the Currency 

to commence business; State banks becoming members of the Federal 

Reserve System also become insured banks without action on the part 

of the Corporation. During 1963, 152 State nonmember banks, 163 

national banks, and 5 State banks members of the Federal Reserve 

System became insured.

Deposit insurance coverage. Under the Banking Act of 1933, a 

temporary plan for deposit insurance provided for insurance up to 

$2;500 for each depositor. This was raised to $5,000 on July 1, 1934, 

and remained at this amount until increased to $10,000 in 1950. Further 

proposed increases in deposit coverage have thus far not been enacted.

I n s u r a n c e O p e r a t io n s to P r o t e c t D e p o sit o r s o f F a il in g B a n k s

Banks failing in 1963. Disbursements to protect depositors were 

required in the cases of two insured banks which failed during 1963; 

namely, The First State Bank of Westmont, Illinois, Westmont, Illinois; 

and Chatham Bank of Chicago, Chicago, Illinois. The Corporation was 

appointed receiver in each of these cases.

There were approximately 36,275 depositors, with total deposits of 

about $23,439 thousand in these banks. The Corporation had, by December 31, 1963, paid approximately $18,967 thousand to about 30,325 

depositors, and expected to pay or otherwise satisfy about 5,040 additional claims amounting to about $281 thousand as soon as the claims 

are proved. In addition, it is estimated that about 910 claims, amounting to approximately $2,404 thousand, will be fully satisfied by the

3

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

receiver. The owners of deposit accounts having balances in excess of 

the $10,000 insurable limit (249 accounts with excess deposits of about 

$1,787 thousand) will share pro rata with the Corporation and other 

creditors in the proceeds from the liquidation of the banks’ assets.

It is estimated that, in addition to expenses incurred in paying depositors’ claims, the Corporation will fail to recover approximately 

$1,460 thousand of the amount paid to the depositors of these banks.

Table 1. P rotection of D epositors of I nsured B a n k s R equiring

D is bu rsem en ts by t h e F ederal D eposit I nsu ran ce C orporation, 1934-1963

Item

All cases 

(447 banks)

Number, or 

amount Percent

Deposit payoff 

cases 

(265 banks)

Number or 

amount Percent

Deposit 

assumption cases 

(182 banks)

Number or 

amount Percent

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

Full recovery received or

available...........................

From FDIC 2.........................

From offset 4..........................

From security or preference 5 

From asset liquidation 8.......

Full recovery not received as

of December 31, 1963. . .

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

Active cases 7.........................

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

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

By FDIC*.............................

By offset 9..............................

By security or preference 10.. 

By asset liquidation 11..........

Not paid as of December 31,

1963....................................

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

Active cases 12........................

1,496,511

1,486,280

1,441,983

38,620

2,847

2,830

10,231

2,834

7,397

$634,542

630,592

596,554

10,714

10,769

12,555

3,950

1,794

2,156

100.0%

99.3

96.3 

2.6

0.2

0.2

0.7

0.2

0.5

100.0%

99.4

94.0

1.7

1.7 

2.0

0.6

0.3

0.3

461,778 100.0%

451,547 97.8

407,250* 88.2

38,620 8.4

2,847 0.6

2,830 0.6

10,231 2.2

2,834 0.6

7,397 1.6

$168,015 100.0%

164,065 97.6

130,027s 77.4

10,714 6.4

10,769 6.4

12,555 7.4

1.034.733

1.034.733

1.034.733

100.0%

100.0

100.0

$466,527

466.527

466.527

100.0%

100.0

100.0

3,950

1,794

2,156

2.4

1.1

1.3

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

* Through direct payment to depositors in deposit payoff cases; through assumption of deposits 

by other insured banks, facilitated by FDIC disbursements of $198,074 thousand, in deposit assumption

» Includes 56,297 depositors in terminated cases who failed to claim their insured deposits (see 

note 7).

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

by insurance in the absence of offsets.

s Excludes depositors paid in part by FDIC whose deposit balances were less than the insurance 

maximum.

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

7 Full recovery available to about 7,000 of these depositors.

8 Includes $185 thousand unclaimed insured deposits in terminated cases (see note 3).

9 Includes all amounts paid by offset.

10 Includes all secured and preferred claims paid from asset liquidation; excludes secured and preferred claims paid by Corporation.

11 Includes unclaimed deposits paid to authorized public custodians.

12 It is estimated that $1.5 million of this amount is or will be available to depositors.

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Federal Reserve Bank of St. Louis
INSURANCE OPERATIONS TO PROTECT DEPOSITORS 5

Banks failing 1934-1963, During the 30 years of Federal deposit 

insurance the Corporation has made disbursements to protect depositors 

in 447 failing banks. Table 1 shows that of the nearly 1.5 million depositors in these banks, all but about 3,250 had the full amount of 

their deposits made available to them. In cases where the deposit 

liabilities are assumed by another insured bank the full amount of 

each deposit is immediately available to depositors. In deposit payoff 

cases the insured deposits are made available by the Corporation as 

soon as possible after the bank closes, and the extent to which deposits 

in excess of the insurance maximum become available to depositors 

depends upon the results of asset liquidation. It is estimated that, out 

of total deposits of about $635 million, less than $2.5 million will not 

have been made available to depositors when all presently active cases 

have been terminated.

Corporation disbursements and losses. Since deposit insurance 

became effective on January 1, 1934, the Corporation has disbursed 

$379.1 million in insurance transactions. Disbursements to protect

Table 2 . A n alysis of Disbursem ents, Recoveries and Losses i n Insurance

Transactions, January 1, 1934-December 31, 1963

(In thousands)

Type of disbursement Disbursements Recoveries 1 Losses

All disbursements—total...................................................... $379,145 $347,095 $ 32,050

Principal disbursements in deposit assumption and

payoff cases—total................................... ....................... $328,227 $297,374 $ 30,853

Loans and assets purchased (182 deposit assumption

cases):

To December 31, 1963................................ ....................... 198,074\ 184,586 \ 1 Q AAO Estimated additional.......................................................... ........... J 426 J iOtUOZ

Deposits paid (265 deposit payoff cases):

To December 31, 1963....................................................... 129,842 \ 98,218\ 17,791 Estimated additional.......................................................... 311/ 14,144/

Advances and expenses in deposit assumption and

payoff cases—-total.......................................................... $ 49,015 $ 47,293 $ 1,722

Expenses in liquidating assets in 182 deposit assumption

cases:

Advances to protect assets................................................ 32,869 32,869

Liquidation expenses.......................................................... 14,424 14,424

Insurance expenses............................................................. 214 (2) 214

Field payoff and other insurance expenses in 265 deposit

payoff cases......................................................................... 1,508 (2) 1,508

Other disbursements—total................................................ $ 1,903 $ 2,428 $ (525)*

Assets purchased to facilitate termination of liquidations:

To December 31, 1963....................................................... 1.771 \ 2,380\ /£K>T\4

Estimated additional.......................................................... .........../ 48/ (oo7;4

Unallocated insurance expenses..................... ...................... 132 (J) 132

1 Excludes recoveries in excess of the amounts due the Corporation, which were returned to stockholders and holders of capital obligations of failed banks. Does not include $9.1 million of interest and 

allowable return received by the Corporation on its advances.

2 Not recoverable.

* Net recovery in excess of disbursements,

4 Net profit and net income.

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

depositors in 447 insured banks have amounted to $377.2 million, while 

disbursements of $1.8 million were made to purchase assets from receivers and liquidators of closed insured banks in order to expedite the 

termination of the receivership and deposit assumption cases, and other 

insurance expenses have amounted to $0.1 million. Total recoveries 

and estimated recoveries on such disbursements amount to $347.1 million, resulting in an estimated loss of $32 million. This represents slightly 

more than 1 percent of the Corporation’s total income. A further 

analysis of these insurance transactions is furnished in Table 2.

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

For many years the great majority of banks have been subject to 

governmental supervision designed to protect their depositors and other 

creditors, and the community, against loss resulting from destruction 

or lack of availability of portions of the circulating medium caused by 

the suspension of banks. The supervisory powers vested in the Corporation are exercised through the approval or denial of various applications which banks are required to make, through the examination 

process, and through the adoption and enforcement of rules and 

regulations.

Applications to become insured or to operate a branch. As is

shown in Table 3, the Board of Directors in 1963 acted upon the 

applications of 158 banks for admission to insurance. This was an 

increase of 10 new banks and 21 operating banks over the number acted 

upon in 1962. Applications acted upon in 1963 for new branch offices 

increased to 310, compared with 265 in the previous year.

The Federal Deposit Insurance Act provides that before approving 

an application by a bank to become insured, or to establish and operate 

a branch, or to change the location of its main office or a branch, the 

Board of Directors must consider the following factors: The financial 

history and condition of the bank, the adequacy of its capital structure, 

its future earnings prospects, the general character of its management, 

the convenience and needs of the community to be served by the bank, 

and whether or not its corporate powers are consistent with the purposes of the Federal Deposit Insurance Act.

Merger transactions. In passing upon an application by a bank to 

engage in a merger, consolidation, acquisition of assets, or assumption 

of liabilities transaction, the Corporation is required to consider the 

effect of the transaction on competition, including any tendency toward 

monopoly, in addition to the six banking factors considered in connection with applications for insurance.

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SUPERVISORY ACTIVITIES 7

Table 3. A pplications A cted U pon by the B oard of D irectors of th e F ederal

D eposit I nsurance C orporation D uring 1963

Type of application

Total

acted

upon

Approved Disapproved

All applications 1............................................................................ 898 884 14

Admission to insurance—total.............................................. 158 155 3

New banks................................................................................. 119 117 2

Operating banks........................................................................ 39 38 1

Continuation of insurance of banks withdrawing from

Federal Reserve System................................................... 20 20

Change in type of business-total....................................... 53 52 1

To engage in trust business or to provide additional fiduciary

services 2................................................................................ 52 51 1

To change branch from limited to full service branch.......... 1 1

Assumption of deposit liabilities—total............................. 35 33 2

Of another insured bank.......................................................... 28 26 2

Of a noninsured bank or trust company................................ 3 3

Of a branch of a noninsured foreign bank............................. 4 4

Operation of branches—total................................................ 372 367 5

New branch offices.................................................................... 310 308 2

Banks to become branches as result of absorption............... 22 21 1

Continue branches of absorbed predecessor, or bank or

branch becoming insured..................................................... 40 38 2

Change of location—total....................................................... 236 235 1

Main offices............................................................................... 164 163 1

Branches.................................................................................... 72 72

Retirement or adjustment of capital.................................. 19 19

Service of person convicted of dishonesty or breach of

trust...................................................................................... 5 3 2

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

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

upon in prior years on which additional action was taken during 1963.

2 Includes permission to one new bank to do a trust business.

Consent of the Corporation is required for any absorption transaction involving any insured bank and a noninsured bank or institution, 

or in which the resulting bank is an insured bank not a member of the 

Federal Reserve System (other than a bank located in the District of 

Columbia). Data regarding the 31 cases approved by the Corporation 

in 1963, with a statement giving the basis for the approval and a summary by the Attorney General of his report concerning the competitive 

factors involved, are given in Table 101.

Absorption cases in which the resulting bank is a national bank (or 

a bank located in the District of Columbia) require approval by the 

Comptroller of the Currency. If the absorbing bank is a State bank 

member of the Federal Reserve System (not located in the District of 

Columbia) the Board of Governors approves or disapproves the application. These Federal bank supervisory agencies are required to consider the same factors in making their decisions as those enumerated 

above.

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

There were 281 banks involved in the applications for mergers, consolidations, acquisitions of assets and assumptions of liabilities approved by the three Federal banking agencies under Section 18(c) of 

the Federal Deposit Insurance Act during 1963. This is about fourfifths the number involved in 1962. The resources of the absorbed 

banks in 1963 were $3.5 billion, compared to $2.2 billion in the preceding year. Further information regarding the applications approved 

during 1963 is given in Table 4.

Table 4 . M ergers, C onsolidations, A cquisitions of A ssets and A ssum ptions

of Liabilities A pproved U nder Section 18(c) of the F ederal D eposit I nsurance

A ct D uring 1963

Offices operated 2

Banks Number 

of 

banks 1

Resources

(in

thousands)2

Prior to 

transaction

After

transaction

ALL CASES

Banks involved.................................................................. 281 $44,379,021

40,860,287

3,518,734

1,607,796

316,590

1,569,300

25,048

2,558

2,157

401

2.542

Absorbing banks.............................................................. 130 2.542

Absorbed banks............................................................... 151

National........................................................................ 54 197

State banks members FRS......................................... 31 48

Not members FRS....................................................... 62 149

Noninsured................................................................... 4 7

CASES WITH RESULTING BANK

A NATIONAL BANK

Banks involved.................................................................. 162 $22,471,484

20,448,891

2,022,593

1,441,572

187,611

393,410

1,413

1,131

282

1.406

Absorbing banks.............................................................. 73 1.406

Absorbed banks............................................................... 89

National........................................................................ 38 173

State banks members FRS......................................... 16 25

Not members FRS...................................................... 35 84

CASES WITH RESULTING BANK A

STATE BANK MEMBER OP THE

FEDERAL RESERVE SYSTEM *

Banks involved.................................................................. 67 $18,804,682

18,303,201

501,481

75,345

96,624

304,464

25,048

807 803

Absorbing banks.............................................................. 32 743 803

Absorbed banks................................................................ 35 64

National........................................................................ 7 7

State banks members FRS......................................... 11 15

Not members FRS....................................................... 13 35

N oninsured................................................................... 4 7

CASES WITH RESULTING BANK NOT

A MEMBER OF THE

FEDERAL RESERVE SYSTEM

Banks involved.................................................................. 52 $ 3,102,855

2,108,195

994,660

90,879

32,355

871,426

338 333

Absorbing banks.............................................................. 25 283 333

Absorbed banks................................................................ 27 55

National........................................................................ 9 17

State banks members FRS......................................... 4 8

Not members FRS...................................................... 14 30

1 The number of resulting banks is smaller than the number of transactions, which totaled 149, 

because a few banks engaged in more than one transaction.

2 In cases where an absorbing bank engaged in more than one transaction, the resources included 

are those of the bank before the latest transaction, and the number of offices before the first and after 

the last transaction.

* Includes one case in which a bank with resources of $10,669 billion, and operating 134 offices 

acquired the assets, amounting to $18,963 million, and assumed the liabilities of 4 branches of a foreign 

corporation. The 4 branches were in foreign countries, and are, therefore, not included in FDIC statistics 

of banks and branches. The resources and number of offices operated of both the absorbing bank and 

the absorbed offices are omitted from this table.

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SUPERVISORY ACTIVITIES 9

Bank examinations. Much of the information upon which the Corporation bases its decisions regarding individual banks is secured 

through bank examinations and other field investigations. The Corporation is thus able to evaluate the current position of the bank and 

observe developing trends, appraise the management, and discover 

whether the bank is engaging in practices contrary to applicable 

provisions of laws or regulations.

The Corporation regularly examines insured State banks not members of the Federal Reserve System and reviews reports of examinations of other insured banks made by the Comptroller of the Currency 

and the Federal Reserve Banks. It may examine national banks, State 

members of the Federal Reserve System, and banks in the District of 

Columbia if, in the opinion of the Board of Directors, such examination 

is necessary for insurance purposes. In some areas the examinations 

of insured nonmember banks are conducted jointly or concurrently 

with those of the State bank supervisory authorities.

A comparison of the number of field examinations and investigations 

and of the reports reviewed in the years 1962 and 1963 is shown in 

Table 5.

Citations for unsafe or unsound banking practices and violations

of law. If an insured bank is discovered to be engaging in unsafe or 

unsound banking practices or to be violating any law or regulation to

Table 5 . B a n k E x a m in a t io n A ctivities of t h e F ederal D eposit I n su ran ce

C orporation in 1962 an d 1963

Activity

Field examinations and investigations—to ta l......................................

Examinations o f m ain offices.............. ..................................................

Regular examinations of insured banks not members of Federal

Reserve System.....................................................................................

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

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

Examinations o f departments and branches.....................................

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

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

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

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

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

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

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

Mergers and consolidations................... ..................................................

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

W ashington office review o f reports o f examination o f insured 

banks—total...........................................................................................

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

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

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

Number

12,099 11,416

6,630 6,719

6,494 6,614

95 79

41 26

3,949 3,710

1,001 989

2,948 2,721

1,520 987

175 178

5 19

170 159

392 299

163 179

790 331

11,176

2,848

1,666

6,662

10,636

2,546

1,538

6,552

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

which it is subject, efforts are made through normal supervisory actions 

to obtain corrections. However, if the objectionable practices continue 

the Board of Directors is required by Section 8(a) of the Federal 

Deposit Insurance Act to initiate action which may result in the termination of the insured status of the bank. After the termination of the 

insured status of any bank under these provisions of law, the insured 

deposits of each depositor in the bank on the date of termination, less 

all subsequent withdrawals, continue for a period of two years to be 

insured.

During the year 1963, actions to terminate the insured status of two 

banks were initiated. In both cases the bank failed prior to the setting 

of a date for the termination of insured status. As is shown in Table 6, 

the Corporation has taken such action against a total of 185 banks, 

with all cases disposed of by the close of 1963.

Reports from banks. Data regarding the assets, liabilities, and 

capital accounts of banks are essential for proper bank supervision, 

and also for many types of economic analysis. Since 1934 the Corporation has prepared tabulations based upon reports of condition received 

from insured banks as of midyear and year-end dates. Beginning in 

1935, such information has also been secured from noninsured banks.

Because of changes in the method of computing deposit insurance 

assessments in 1961, each insured bank is required to file four reports 

of condition each year. In 1963, reports were required for March 18, 

June 29, September 30, and December 20.

Banks participating in Federal deposit insurance submit reports of 

income and dividends on a calendar year basis.

Table 6. A ctions to T e r m in a te I nsured Status of B a n k s C harged W it h

U nsafe or U nso u n d B a n k in g P ractices or V iolations of L a w or

R egulations, 1936-1963

Disposition or status 1936-1963 1

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

Cases closed.........................................................................................................................

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

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

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

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

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

Insured status terminated, or date for such termination set by Corporation, for

failure to make corrections.......................................................................................

Banks suspended prior to or on the date of termination of insured status...................

Banks continued in operation 2......................................................................................

185

185

71

68

34

12

9

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

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

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

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Federal Reserve Bank of St. Louis
LEGAL DEVELOPMENTS 11

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

Federal legislation. No legislation directly affecting Federal deposit 

insurance or insured banks was enacted by the Congress during 1963.

Rules and regulations of the Corporation. A new Part 334 of the

Corporation’s rules and regulations was adopted effective April 3, 1963 

for the purpose of implementing the provisions of Section 5 of the Bank 

Service Corporation Act, Public Law 87-856, approved October 23, 

1962 (76 Stat. 1132), in their application to arrangements for the 

performance of bank services for insured State nonmember banks. 

Under Section 5 of the Act, no insured State nonmember bank may 

cause bank services, as defined in the Act, to be performed for itself, 

by contract or otherwise, and whether off or on the bank’s premises, 

unless assurances satisfactory to the Corporation’s Board of Directors 

are furnished to the Board of Directors by both the bank and the 

party furnishing the services that the performance of the services will 

be subject to regulation and examination by the Board of Directors 

to the same extent as if the services were being performed by the bank 

itself on its own premises. The newly adopted Part 334 prescribes rules 

with respect to the form of the required assurances and the time for 

furnishing them.

Section 329.6 of the Corporation’s rules and regulations was amended 

effective July 17, 1963. This section prescribes the maximum permissible 

rates of interest which insured banks not members of the Federal 

Reserve System, other than mutual savings banks, may pay on time 

and savings deposits. The amendment affected only the rates of interest on time deposits (other than postal savings deposits constituting 

time deposits) which have a maturity date of less than 12 months and 

not less than 90 days from the date of deposit or are payable upon 

written notice of less than 12 months and not less than 90 days. For 

such deposits, the amendment increased the maximum permissible rate 

of interest for periods commencing on or after the effective date of the 

amendment to 4 percent per annum. The maximum rates previously 

prescribed for all other time and savings deposits remained in effect.

The new Part 334 and amended Section 329.6 of the rules and regulations, published in the Federal Register April 3, 1963 (28 F.R. 3201- 

3202) and July 20, 1963 (28 F.R. 7423-7424) are set forth in Part Two 

of this report.

State legislation. Part Two also includes a summary of State banking legislation enacted in 1963.

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

A d m in is t r a t io n o f t h e C o r p o r a t io n

Structure and employees. The Corporation is managed by a bipartisan Board of Directors of three members. Two directors are 

appointed for terms of six years by the President, by and with the 

advice and consent of the Senate. The Comptroller of the Currency 

serves ex officio as the third director.

Mr. Erie Cocke, Sr., completed his 6-year term of office on August 4, 

1963. Mr. Cocke had served as Chairman of the Board of Directors 

from January 20, 1961, until the end of his term. Mr. James J. Saxon, 

the Comptroller of the Currency and a member of the Corporation’s 

Board of Directors, acted as Chairman after Mr. Cocke’s departure. 

On January 22, 1964, Mr. Joseph W. Barr was appointed to a 6-year 

term as a member of the Board of Directors. Mr. Barr was elected 

Chairman of the Board on the following day. Mr. Jesse P. Wolcott 

retired at the expiration of his term of office on January 26, 1964. He 

had received an interim appointment to the Board of Directors on 

September 12, 1957, and was appointed to a 6-year term on January 27, 

1958, serving as Chairman of the Board from September 17, 1957 until 

January 20, 1961. His successor as a member of the Board of Directors, 

Mr. Kenneth A. Randall, was appointed on March 10, 1964, for a term 

of six years.

The Corporation maintains its main office in Washington, D. C., and 

District offices in 12 cities. During the month of May, 1963, the headquarters offices of the Federal Deposit Insurance Corporation were 

moved into the Corporation’s new office building at 550 Seventeenth 

Street, N. W. in Washington. On June 16, ceremonies of dedication of 

the new building also marked the thirtieth anniversary of the Banking 

Act of 1933 which created the Corporation.

An organization chart of the Corporation, a list of its officials, and 

the location of each district office, the area it serves, and the names of 

the respective Supervising Examiners are given on pages iv to vii 

of this report.

The number of officers and employees of the Corporation assigned 

to the various offices and divisions as of December 31, 1963, are shown 

in Table 7. There were 7 more employees on that date than a year 

earlier. In most divisions there was a small reduction of regular personnel, the greatest being in the Office of the Controller which had 15 

less personnel. The latter was due to a decrease in the maintenance 

staff made possible by the procurement of maintenance services for 

the new FDIC headquarters building, on contract, from the General 

Services Administration. The increase in the staff of the Division of 

Liquidation to 64 employees, in contrast to 36 at the end of 1962, was

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

T able 7 . N u m ber of Officers and E mployees of t h e F ederal D eposit

I n su ran ce C orporation, D ecember 31, 1963

Division Total

Washington

office

District 

and other 

field 

offices

1,249

2

289 960

Directors.................................................................................. 2 0

Executive Offices........................................... ........................ 19 19 0

Legal Division......................................................................... 21 21 0

Division of Examination........................................................ 958 55 903

Division of Liquidation.......................................................... 64 28 36

Division of Research and Statistics...................................... 47 47 0

Audit Division........................................................................ 40 19 21

Office of the Controller.......................................................... 98 98 0

due to the temporary employment of field liquidation employees presently needed in the Chatham Bank liquidation, Chicago, Illinois, whose 

employment will be terminated as the liquidation progresses.

For all employees (excluding temporary field liquidation personnel) 

the turnover ratio was 17 per 100 in 1963. Among field examiners, who 

comprise the largest group of employees, the rate was 12 per 100. 

Thirty-eight of the 91 examiners who left the employ of the Corporation in 1963 went to banks or to State or Federal supervisory agencies. 

Of the other examiners terminating their services with the Corporation, 

9 retired, 9 left to enter military service, 9 went to other Government 

agencies, there were 3 deaths, 6 returned to college, 5 entered private 

business, and 12 left for other reasons.

Employee benefits and programs. At the close of 1963, 91 percent 

of the Corporation’s personnel were participating in the Federal Employees Health Benefits program; while 92 percent (of eligible employees) had availed themselves of the group life insurance benefits 

provided. Ninety-seven percent of the employees were included in the 

Civil Service Retirement System. Other benefits available to employees 

include vacation and sick leave, compensation for on-the-job injuries, 

and unemployment benefits.

An educational program for examiners was started by the Corporation in 1946. By the close of 1963, examiners had completed 3,400 

courses of study. These include correspondence courses as well as 

courses which require study in residence at various schools. A Bank 

Examination School is conducted jointly by the Corporation and the 

Federal Reserve System. Since 1952, 542 of the Corporation’s examiners 

and assistant examiners have attended sessions held at that school. 

Regional training programs in automation also are conducted jointly 

by the Corporation and the Federal Reserve Board. Twenty-one corporation examiners have attended the three programs held prior to 

December 31, 1963.

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

F in a n c e s of t h e C o r p o r a t io n

Assets and liabilities. On December 31, 1963, the assets of the 

Corporation amounted to $2,823.1 million. The principal item consisted 

of United States Government obligations, which, together with accrued 

interest, were valued at $2,798.1 million. Cash amounted to approximately $2.0 million, assets acquired in insurance transactions to $14.6 

million, land and office building $8.2 million, and other assets about 

$0.2 million.

Liabilities were $155.2 million, of which $152.1 million consisted of 

assessment credits due insured banks. The deposit insurance fund, 

representing the Corporation’s accumulated net income from its inception, amounted to $2,667.9 million. The financial condition of the 

Corporation, as of December 31, 1963, is showTn in Table 8.

In addition to the resources enumerated in Table 8 the Corporation 

has authorization to borrow from the United States Treasury, and the 

Secretary of the Treasury is authorized and directed to loan to the 

Corporation, on such terms as may be fixed by the Corporation and 

the Secretary, not to exceed $3 billion outstanding at any one time, 

when in the judgment of the Board of Directors of the Corporation 

such funds are required for insurance purposes. The Corporation has 

never exercised this borrowing power.

Income and expenses in 1963. The Corporation’s income and expenses for the year ended December 31, 1963, together with the change 

for the year in the deposit insurance fund, are presented in Table 9.

In 1963, the Corporation’s income from assessments together with 

other income, derived principally from investments in United States 

Government securities, amounted to $181.8 million. Operating expenses 

were $14.3 million, and provisions for insurance losses and absorbed 

insurance expenses amounted to $1.6 million. Net income added to the 

deposit insurance fund during 1963 amounted to $165.9 million.

The determination and distribution of the Corporation’s net assessment income for the year ended December 31, 1963, are shown in 

Table 10.

In accordance with the formula provided in the Federal Deposit 

Insurance Act, the total assessments due the Corporation during the 

calendar year, amounting to $220.5 million, was reduced by $15.9 million, the total of administrative and operating expenses, net additions 

to the reserve for insurance losses, and insurance expenses, leaving 

net assessment income for 1963 of $204.6 million. One-third of this 

amount, $68.2 million, was transferred to the deposit insurance fund, 

and the remainder, $136.4 million, was credited to insured banks. The

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FINANCES OF TH E CORPORATION 15

T a b le 8 . Sta t em en t of F in a n c ia l C on d itio n , F ederal D eposit I nsu ran ce

C orporation, D ecember 31, 1963

ASSETS

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

U. S. Government obligations:

Securities at amortized cost (face value $2,791,325,000;

market or redemption value $2,690,369,886)..........................

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

Assets acquired in receivership and deposit assumption 

transactions: 1

Subrogated claims of depositors against closed insured banks. . . 

Net instared balances of depositors in closed insured banks, to

be subrogated when paid—see related liability......................

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

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

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

Less reserve for losses...................................................................

Miscellaneous assets......................................................................

Land and office building, less depreciation on building. . . 

Furniture, fixtures, and equipm ent (cost $820,313).............

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

LIABILITIES AND DEPOSIT INSURANCE FUND 2

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

Earnest m oney, escrow funds, and collections held for

others......................................................................................

Accrued annual leave o f em ployees...........................................

Assessment credits due insured banks:

Available July 1, 19643...................................................................

Available immediately....................................................................

Net insured balances o f depositors in closed insured banks 

—see related asset...............................................................

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

Deposit insurance fund, net incom e accumulated since 

inception (Table 9 and note 4 ).........................................

Total liabilities and deposit insurance fu n d . . .

$2,774,351,466

23,778,549

$ 17,122,082

310,845

954,915

1,667,569

47,951

$ 20,103,362 

5,485,000

136,431,560

15,707,804

1,955,105

2,798,130,015

14,618,362

175,800

8,267,8891

$2,823,147,172

1,100,166

368,012

1,319,271

152,139,364

310,845

$ 155,237,658

2,667,909,514

$2,823,147,172

The following notes are an integral part of this statement.

1 Reported hereunder is the book value of assets in process of liquidation. An analysis of transactions 

relating to all assets acquired in receivership and deposit assumption cases, including those assets which 

have been liquidated, is furnished in Table 2.

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

to the Acts of August 5, 1947 (61 Stat. 773) and June 29, 1948 (62 Stat. 1092), with total interest payments made thereon in 1950 and 1951, pursuant to the Act of September 21, 1950 (64 Stat. 873).

3 The Federal Deposit Insurance Act (12 U.S.C. 1817) provides that insured banks shall pay to the 

Corporation semiannual insurance assessments computed at the semiannual rate of one twenty-fourth 

of 1 percent of the average of the deposit liabilities reported on the two reports of condition in such 

semiannual period, less certain authorized exclusions and deductions. The Act also provides that insured 

banks shall be allowed pro rata credits of 66% percent of the Corporation’s net assessment income (total 

assessments less insurance and operating costs of the Corporation) for each calendar year. The credits become 

available on July first following the close of the calendar year, for application to the payment of subsequent assessments. Assessment credits for the calendar year 1963, which will become available to the 

banks on July 1, 1964, are reported, with other credits to insured banks, under the caption “ Assessment 

Credits Due Insured Banks.” The net assessment income credit for 1963 reduced insured banks’ assessments from the statutory rate of one-twelfth of one percent to an effective rate of about one thirtyfirst of one percent of assessable deposits for the calendar year 1963.

4 The deposit insurance fund of $2.67 billion as of December 31, 1963, represents the accumulated 

net income of the Corporation and is available for insuring deposits and payment of expenses. The 

Fund amounts to about 0.85 percent of total deposits in insured banks in the amount of $313.3 billion. 

In addition to this fund, the Corporation is authorized to borrow from the United States Treasury, and 

the Secretary of the Treasury is authorized and directed to loan to the Corporation on such terms as 

may be fixed by the Corporation and the Secretary, not to exceed $3fbillion outstanding at any one time, 

when in the judgment of the Board of Directors of the Corporation such funds are required for insurance 

purposes. No borrowings have been made under this authorization.

NOTE: The financial statements presented herein do not include accountability for assets and 

liabilities of closed insured banks acquired by the Corporation in its fiduciary capacity as receiver or 

liquidating agent. Periodic and final accountability reports are furnished to the Courts, supervisory authorities, and others, as required.

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16 FEDERAL DEPOSIT INSURANCE CORPORATION

net assessment income credit for 1963 reduced the statutory assessment 

rate of one-twelfth of 1 percent to an effective rate of one-thirty-first 

of 1 percent of assessable deposits.

Flow of funds in 1963. Information regarding the sources and 

uses of funds by the Corporation during the calendar year 1963 is 

given in Table 11. The principal sources of funds were maturities and 

sales of United States Government securities, income from such securities, and net deposit insurance assessments. About 95 percent of the 

total funds provided were applied to the purchase of United States 

Government securities.

Income and the deposit insurance fund, 1934-1963. Total income 

of the Corporation from the beginning of its operations to December 31, 

1963, amounted to $2,981.5 million. About two-thirds of the income 

has been derived from deposit insurance assessments after crediting 

insured banks with $1,311 million representing their share of net assessment income, and one-third from investments and other sources.

Table 9. Statem en t of I n com e and D eposit I n su ran ce F u n d , F ederal

D eposit I nsu ran ce C orporation, Y ear E nded D ecember 31, 1963

Income:

Deposit insurance assessments:

Gross assessments for the year.....................

Less net assessment income credits..............

Income from adjustments for prior periods.

Net income from U.S. Government securities..............

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

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

Expenses and losses:

Administrative and operating expenses:

Salaries and wages...........................................................

Civil Service retirement fund and F.I.C.A. payments.

Travel expenses................................................................

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

Depreciation on building................................................

Other expenses.................................................................

Provisions for insurance 1

Applicable to the year ended December 31, 1963.

Adjustments to provisions made in prior years: 

Applicable to net assessment income for 1963. . 

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

Insurance expenses......................................................

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

Net income—addition to the deposit insurance fund

for the year ended December 31, 1963........................

Deposit insurance fund, January 1, 1963..........................

Deposit insurance fund, December 31, 1963, net income

accumulated since inception (Table 8 and note 4) . . .

$ 220,566,571 

136,422,380

9,599,239

611,156

2,550,913

409,751

82,111

1,078,114

. $ 1,380,000

s 13,586

13,000(D)

$ 586

$ 84,144,191

75,789

$ 84,219,980 

97,532,331 

63,999

$ 181,816,310

$ 14,331,284

1,380,586 

208,131 

$ 15,920,001

$ 165,896,309

2,502,013,205

$2,667,909,514

(D) Deduct

The notes following Table 8 are an integral part of this statement.

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FINANCES OF TH E CORPORATION 17

Table 10. D ete rm in atio n and D istribution of N et A s s e s sm e n t I n c o m e,

F ederal D eposit I n su ran ce C orporation, Y ear E nded D ecember 31, 1963

Determination of net assessment income:

Total assessments which became due during the calendar 

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

Less:

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

Net additions to reserve to provide for insurance losses:

Provisions applicable to 1963...................................

Adjustments to provisions made in prior years. . . .

Insurance expenses............................................................

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

Net assessment income for 1963.................................

Distribution of net assessment income, December 31,

1963:

Net assessment income for 1963:

33J^% transferred to the deposit insurance fund..........

66%% credited to insured banks.....................................

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

Allocation of net assessment income credit among

insured banks, December 31, 1963:

Credit for 1963.......................................................................

Adjustments of credits for prior years................................

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

$ 1,380,000 

13,586

$136,422,380

9,180

$220,566,571

$ 14,331,284

1,393,586

208,131

$ 15,933,001 

$204,633,570

$ 68,211,190 

136,422,380

$204,633,570

Percentage of total 

assessment 

becoming due in 

1963

61.851%

.004

$136,431,560 61.855%

Expenses and losses have only slightly exceeded 10 percent of the 

Corporation’s income. The deposit insurance fund, amounting to 

$2,667.9 million at the close of 1963, represents the cumulative net 

income of the Corporation since the beginning of its operations.

Income, expenses and losses, and the net income added to the deposit 

insurance fund in each year of the Corporation’s operations are shown 

in Table 12.

Table 11. Sources and A pplication of F u n ds of t h e F ederal D eposit

I n su ran ce C orporation for t h e C alendar Y ear 1963

Funds provided by:

Net deposit insurance assessments................................................................................ $ 84,219,980 

95,612,906 

705,427,750 

4,549,995 

11,465,771

Net income from U.S. Government securities, leas amortization of net discounts. . 

Maturities and sales of U.S. Government securities...................................................

Collections on assets acquired in receivership and deposit assumption transactions... 

Increase in assessment credits due insured banks........................................................

Total funds provided................................................................................... $901,276,402

Funds applied to:

Administrative, operating and insurance expenses, less miscellaneous credits......... $ 14,393,305 

18,991,173 

704,787 

862,600,846 

4,586,291

Acquisition of assets in receivership and deposit assumption transactions...............

Construction costs of office building.............................................................................

Purchases of U.S. Government securities.....................................................................

Net change in other assets and liabilities.....................................................................

Total funds applied..................................................................................... $901,276,402

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18 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 12. I n com e and E x p e n s e s, F ederal D eposit I nsu ran ce C orporation,

by Y ears, F rom B e g in n in g of Operations, September 11, 1933, to

D ecember 31, 1963, A djusted to D ecember 31, 1963

(In millions)

Year

Income

Total

Deposit

insurance

ments1

Investments

and

other

sources2

Expenses and

Total

Deposit 

insurance 

losses and 

expenses

Interest 

on capital 

stock*

Administrative

and

operating

expenses

Net 

income 

added to 

deposit 

insurance 

fund4

1933-63.. .

1963.........

1962.........

1961.........

1960.........

1959.........

1958.........

1957.........

1956........

1955.........

1954.........

1953.........

1952.........

1951.........

1950.........

1949.........

1948.........

1947.........

1946........

1945.........

1944.........

1943........

1942........

1941........

1940.........

1939.........

1938.........

1937.........

1936.........

1935.........

1933-34...

$2,981.5

181.7 

161.1

147.3

144.6

136.5

126.8

117.3 

111.9

105.7

99.7

94.2 

88.6

83.8

84.8 

151.1

145.6 

157.5

130.7 

121.0

99.3

86.6

69.1 

62.0

55.9

51.2

47.7

48.2

43.8

20.8

7.0

$1,984.8

84.1

76.5

73.4

79.6

78.6

73.8

69.1

68.2

66.1

62.4

60.2

57.3

54.3

54.2 

122.7

119.3

114.4 

107.0

93.7

80.9

70.0

56.5

51.4

46.2

40.7

38.3

38.8

35.6

11.5 

(s)

$996.7

97.6

84.6

73.9

65.0

57.9

53.0

48.2

43.7 

39.6

37.3

34.0

31.3

29.5

30.6

28.4

26.3

43.1

23.7

27.3

18.4

16.6

12.6

10.6

9.7

10.5

9.4

9.4 

8.2

9.3 

7.0

$313.6

15.9

13.8

14.8

12.5 

12.1

11.6

9.7 

9.6

9.0

7.8

7.3

7.8

6.9

7.8

6.4

7.0

9.9 

10.0

9.4 

9.3

9.8

10.1

10.1

12.9 

16.4

11.3 

12.2

10.9

11.3 

10.0

$32.0

1.5 

.1

1.6 

.1 

.2

1.4

.3

.7

.1

.1

.1

.1

.5

.6

3.5 

7.2

2.5

3.7

2.6

2.8

.2

$80.6

.6

4.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8

5.8 

5.6

$201.0 $2,667.9

14.4 165.8

13.7 147.3

13.2 132.5

12.4 132.1

11.9 124.4

11.6 115.2

9.6 107.6

9.1 102.3

8.7 96.7

7.7 91.9

7.2 86.9

7.0 80.8

6.9 76.9

6.4 77.0

6.1 144.7

5.7 138.6

5.0 147.6

4.1 120.7

3.5 111.6

3.4 90.0

3.8 76.8

3.8 59.0

3.7 51.9

3.6 43.0

3.4 34.8

3.0 36.4

2.7 36.0

2.5 32.9

2.7 9.5

4.2® - 3 .0 7

1 For the period from 1950 to 1963, inclusive, figures are net after deducting the portion of net 

assessment income credited to insured banks pursuant to provisions of the Federal Deposit Insurance 

Act of 1950, as amended. Assessment credits to insured banks for these years amounted to $1,311 million 

equal to 57.7% of gross assessments.

2 Includes $9.1 million of interest and allowable return received on funds advanced by the Corporation 

in 161 receivership and deposit assumption cases.

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

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

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

to which they are applicable, whereas the amounts of the Fund shown in Table 13 represent the Fund as 

reported on the dates specified. Hence the deposit insurance fund reported in Table 13 cannot be computed by annual addition of income reported herein, except for the Fund as of December 31, 1963.

6 Assessments collected from members of the temporary insurance funds which became insured under 

the permanent plan were credited to their accounts at the termination of the temporary funds and were 

applied toward payment of subsequent assessments becoming due under the permanent insurance fund, 

resulting in no income to the Corporation from assessments during the existence of the temporary insurance funds.

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

temporary insurance funds on June 30, 1934.

7 Deduction.

NOTE: Beginning with this report, income of approximately $2.5 million derived from credit union 

fees and other sources relating to the administration of the Federal Credit Union Act from April, 1942 

to July, 1948, and expenses in the same amount incurred in connection therewith, are excluded from 

this analysis of the Corporation’s cumulative net income.

The growth of the deposit insurance fund in relation to the increase 

in deposits in insured banks is presented in Table 13. The figures for

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FINANCES OF THE CORPORATION 19

percent of deposits insured represent estimates based upon specific 

reports received from insured banks at various times.

Table 1 3 . I nsured D eposits and t h e D eposit I n su ran ce F u n d , 1934-1963

Year 

(Dec. 31)

Deposits in 

insured banks 

(in millions)

Percent

of

deposits

insured

Deposit

insurance

fund

(in

millions)

Ratio of deposit 

insurance fund to—

Total Insured1

Total

deposits

Insured

deposits

1963............................................ $313,3042 (*) (*) $2,667.9 .85% (»)

1962............................................ 297,5484 $179,088 60.2% 2,502.0 .84 1.40%

1961............................................ 281,304 164,071 58.3 2,353.8 .84 1.43

1960............................................ 260,495 149,684 57.5 2,222.2 .85 1.48

1959............................................ 247,589 142,131 57.4 2,089.8 .84 1.47

1958............................................ 242,445 137,698 56.8 1,965.4 .81 1.43

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

1934............................................ 40,060 18,075 45.1 333.0 .83 1.84

1 Figures estimated by applying to the deposits in the various types of account at the regular call 

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

3 December 20, 1963.

* Not estimated.

* December 28, 1962.

Audit. The Audit Division of the Corporation makes a continuous 

audit of its financial operations, including the Corporation’s liquidation activities. Field verification of insurance assessments against 

insured banks is conducted on a test basis.

The General Accounting Office has conducted annually since 1945 

an independent audit of the affairs of the Corporation. The Report on 

Examination of Financial Statements for the year ended June 30, 1963, 

furnished by the Comptroller General is reproduced in Table 14.

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Table 14. R eport on E x a m in a t io n of F in a n c ia l Statem en ts of F ederal

D eposit I n su ran ce C orporation, Y ear E nded J u n e 30, 1963

COMPTROLLER G ENERAL OF TH E U N ITE D STATES

W ASH IN GTO N 20548

B -l 14831 December 16, 1963

To

Federal Deposit Insurance Corporation

The General Accounting Office has made an audit of the FEDERAL DEPOSIT

INSURANCE CORPORATION, an independent Government agency, for the

year ended June 30, 1963, pursuant to section 17(b) of the Federal Deposit

Insurance Act (12 U.S.C. 1827).

Our examination of the Corporation’s statement of financial condition as of

June 30, 1963, and the related statements of income and deposit insurance fund

and of sources and application of funds for the year then ended, was made in

accordance with generally accepted auditing standards and, accordingly, included

such tests of the accounting records and such other auditing procedures as we

considered necessary in the circumstances and appropriate in view of the effectiveness of the system of internal control and the work performed by the Corporation’s internal auditors.

The Corporation’s accumulated net income has been retained as a deposit

insurance fund and is available for future deposit insurance losses. We are unable

to express an opinion on the adequacy of the deposit insurance fund to meet

future losses because the amount that may be needed is dependent on future

economic conditions.

In our opinion, except that we cannot express an opinion on the adequacy of

the deposit insurance fund for the reasons stated in the preceding paragraph, the

accompanying financial statements (schedules 1 through 4) present fairly the

financial position of the Federal Deposit Insurance Corporation at June 30, 1963,

and the results of its operations and the sources and application of its funds for

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

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

Federal laws.

/ s / Joseph Campbell

Comptroller General of the United States

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Table 14. R eport on E x a m in a t io n of F in a n c ia l Statem en ts of F ederal

D eposit I n su ran ce C orporation, Y ear E nded Ju n e 30, 1963— Continued

Schedule 1. F ederal D eposit I n su ran ce C orporation,

Sta t em en t of F in a n c ia l C o n d itio n , J u n e 30, 1963

ASSETS

C ash...................................................................................................

U. S. Government obligations:

Securities at amortized cost (face value, $2,754,363,000; market

or redemption value, $2,687,030,843)......................................

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

Assets acquired in receivership and deposit assumption 

transactions:

Subrogated claims of depositors against closed insured banks.. 

Net insured balances of depositors in closed insured banks, to

be subrogated when paid—see related liability......................

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

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

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

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

Less reserve for losses....................................................................

Miscellaneous assets......................................................................

Office premises:

Land, at cost..................................................................................

Building, at cost less $16,423 depreciation 1..............................

Furniture, fixtures, and equipm ent, cost $807,483................

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

LIABILITIES AND DEPOSIT INSURANCE FUND 2

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

Earnest m oney, escrow funds, and collections held for

others.....................................................................................

Accrued annual leave o f employees......... ................................

Assessment credits due insured banks: 3

Available July 1, 1963..................................................................

Available July 1, 1964—estimated..............................................

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

Net insured balances o f depositors in closed insured banks—

see related asset.........................................................................

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

Deposit insurance fund, net income accumulated since inception (schedule 2 and notes 4 and 5).........................................

Total liabilities and deposit insurance fund ....

$2,742,183,436

22,922,044

7,560,997

196,625

956,680

25,000

1,666,112

47,968

10,453,382

5,103,700

1,635,270

6,552,635

$ 126,922,299 

66,855,474 

188,139

1,058,519

2,765,105,480

5,349,682

117,558

8,187,905

1

$2,779,819,145

1,106,964

363,661

1,317,722

193,965,912

196,625

196,950,884

2,582,868,261

$2,779,819,145

The notes following schedule 4 are an integral part of this statement.

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22 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 1 4. R eport on E x a m in a t io n of F in a n c ia l Statem en ts of F ederal

D eposit I nsu ran ce C orporation, Y ear E nded J u n e 30, 1963— Continued

Schedule 2. F ederal D eposit I nsu ran ce C orporation,

Statem en t of I n com e and D eposit I n su ran ce F u n d ,

Y ear E nded J u n e 30, 1963

Income:

Deposit insurance assessments: 3

$211,011,870

130,662,915 $ 80,348,955 

90,404

9,561,010

603,607

2,597,440

522,121

16,423

867,535

Net income from U. S. Government securities............................

80,439,359

91,395,632

30,086

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

Expenses and losses:

Administrative and operating expenses:

171,865,077

14,168,136

761,569

79,795

Civil Service retirement fund and F.I.C.A. payments............

Depreciation on building............................................................

Provisions for insurance losses:

1,071,000

309,431Less adjustments to provisions made in prior years................

Other expenses.................................................................................

Total expenses and losses........................................... 15,009,500

Net income— addition to the deposit insurance fund for

the year ended June 30, 1963................................................ 156,855,577

Deposit insurance fund July 1, 1962........................................... 2,426,012,684

Deposit insurance fund June 30, 1963 (schedule 4 and notes 4 

and 5 )........................................................................................... $2,582,868,261

The notes following schedu ^<4 are an integral part of this statement.

Schedule 3 . F ederal D eposit I nsu ran ce C orporation,

Sta tem en t of Sources and A pplication of F u n d s,

Y ear E nded J u n e 30, 1963

Funds provided by:

Net deposit insurance assessments............................................................................ $ 80,439,359 

89,729,715 

1,061,650,591 

1,289,172 

15,256,380

Net income from U. S. Government securities, less amortization of net discounts.. 

Maturities and sales of U. S. Government securities..................................................

Collections on assets acquired in receivership and deposit assumption transactions. . 

Increase in assessment credits due insured banks........................................................

Total funds provided. . . . . . $1,248,365,217

Funds applied to:

Administrative, operating, and insurance expenses, less miscella: 

Acquisition of assets in receivership and deposit assumption tra: 

Construction costs of office buildiner..............................................

neous credits........

nsactions...............

$ 14,201,422 

5,319,942 

2,005,125 

1,223,155,401 

3,683,327

Purchases of U. S. Government securities....................................................................

Net change in other assets and liabilities.......................................... ................

Total funds applied......................................................................................... $1,248,365,217

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FINANCES OF TH E CORPORATION 23

Table 14. R eport on E x a m in a t io n of F in a n c ia l Statem en ts of F ederal D eposit

I n su ran ce C orporation, Y ear E nded Ju n e 30, 1963— Continued

Schedule 4. F ederal D eposit I nsu ran ce C orporation,

A n a ly s is of D eposit I nsu ran ce F u n d ,

I nception to J u n e 30, 1963

Income:

Insurance assessments..................................................................................................... $3,183,777,060

Less net assessment income credits............................................................................... 1,241,383,062

Net insurance assessments........................................................................ 1,942,393,998

937,146,922

9,328,276

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

Other income (principally interest and allowable return from deposit insurance 

assumption and receivership cases)........................................................................

Total income.................................................................................................. 2,888,869,196

Expenses and losses:

Administrative and operating expenses........................................................................ 193,932,456

31,506,167

80,562,312

Deposit insurance losses and expenses..........................................................................

Interest paid to the Secretary of the Treasury on retired capital stock...................

Total expenses and losses........................................................................... 306,000,935

Deposit insurance fund, net income accumulated since inception 6............... $2,582,868,261

N otes to t h e F in a n c ia l Statem en ts— J u n e 30, 1963

1 Depreciation has been computed at the annual rate of 2 percent.

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

to the Acts of August 5, 1947 (61 Stat. 773) and June 29, 1948 (62 Stat. 1092), with total interest payments made thereon in 1950 and 1951 pursuant to the Act of September 21, 1950 (64 Stat. 873).

3 The Federal Deposit Insurance Act (12 U.S.C. 1817) provides that the insured banks shall pay 

to the Corporation semiannual insurance assessments computed at the semiannual rate of one twentyfourth of 1 percent of the average of the deposit liabilities reported on the two reports of condition in 

such semiannual period, less certain authorized exclusions and deductions. The Act also provides that 

insured banks shall be allowed pro rata credits of 66% percent of the Corporation’s net assessment income—total assessments less insurance and operating costs of the Corporation—for each calendar year. 

The credits become available on July first following the close of the calendar year for application to the 

payment of subsequent assessments. Assessment credits have been computed for the calendar year 1962 

and estimated for the first six months of calendar year 1963. These and other credits to insured banks 

are reported under the caption “ Assessment Credits Due Insured Banks.” The net assessment income 

credits to insured banks in 1962 reduced their assessments from the statutory rate of one twelfth of 1 

percent to an effective rate of about one thirty-second of 1 percent of assessable deposits and it is estimated that the same effective rate continued during fiscal year 1963.

* The deposit insurance fund of $2.6 billion at June 30, 1963, represents the accumulated net income 

of the Corporation and is available for insuring deposits and payment of expenses. The Fund amounts 

to about 1.4 percent of insured deposits estimated at $183.6 billion and to about 0.85 percent of total 

deposits of all insured banks in the amount of $303.2 billion. The law does not specify either the amount 

or the ratio of insured deposits to which the insurance fund is to be accumulated. In addition to this fund, 

the Corporation is authorized to borrow from the United States Treasury, and the Secretary of the 

Treasury is authorized and directed to loan to the Corporation on such terms as may be fixed by the 

Corporation and the Secretary, not to exceed $3 billion outstanding at any one time, when in the judgment of the Board of Directors of the Corporation such funds are required for insurance purposes. No 

borrowings have been made under this authorization.

The Corporation, from its inception to June 30, 1963, has made disbursements of $365.1 million in 

protecting depositors of 446 insured banks and in facilitating the termination of liquidations. Related 

accumulated losses amount to $31.5 million, including estimated losses of $5.1 million on liquidations 

not terminated at the close of the year ended June 30, 1963, but not including $9 million of interest and 

allowable return collected from 159 of the 446 insured banks in liquidation.

6 On August 23, 1963, the Corporation was appointed Receiver of the Chatham Bank of Chicago, 

Chicago, Illinois. The Corporation, as insurer of the bank’s deposits, estimates that it will pay about 

$14 million in depositors’ claims, for which the Corporation will have generally a common claim against 

the assets of the closed bank. However, information on which to base an estimate of the Corporation’s 

loss in this case was not available as of November 20, 1963.

8 Income and expenses, amounting to $2,681,357 each, relating to the administration of the Federal 

Credit Union Act by the Corporation during the period from April 27, 1942, to July 28, 1948, inclusive, 

are not included in the Analysis of Deposit Insurance Fund, Schedule 4.

7 These statements do not include accountability for assets and liabilities of closed insured banks 

acquired by the Corporation in its fiduciary capacity as receiver or liquidating agent. Periodic and final 

accountability reports are furnished to the Courts, supervisory authorities, and others, as required.

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Federal Reserve Bank of St. Louis
PART TWO

COMMERCIAL BANKS CLOSED BECAUSE OF FINANCIAL

DIFFICULTIES, 1934-1962

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Federal Reserve Bank of St. Louis
C o m m e r c i a l B a n k s C l o s e d B e c a u s e o f F i n a n c i a l D i f f i c u l t i e s ,

1934-1962

Since the beginning of its activities, the Federal Deposit Insurance 

Corporation has maintained a continuing interest in the extent and character of losses to bank depositors, both before and after the advent of 

deposit insurance. A study of such losses during the period, 1865-1934, 

was published in the Corporation’s annual report for 1934; and revised 

and additional data were given in the 1940 annual report. The Corporation’s annual report for 1958 presented a summary of its own operations 

to protect depositors in failing insured banks, with information regarding 

each of the closed banks during the period, 1934-1958.

We present here tabulations showing by years, the number, deposits, 

and losses on deposits, of all commercial banks closed because of financial difficulties during the period, 1934-1962, with additional information regarding the failed noninsured banks. Information regarding the 

noninsured banks is not reported directly to the Corporation. Data 

have been obtained from various sources, largely from the State banking agencies or their published reports.

Number and deposits of banks closed. During the 29 years from 

1934 to 1962, inclusive, 573 commercial banks with deposits totaling 

$694 million were closed because of financial difficulties. Of these, 125 

banks with deposits of $58 million, were not insured; and 448, with deposits of $637 million, were insured by the Corporation.1 Figures by 

years are shown in Table 15.

Of the 125 noninsured commercial banks closed during 1934-1962 because of financial difficulties, 52 were closed in 1934. In about half of 

the 1934 cases the banks were not actually closed to the public at the 

time they were reported as suspended, but were placed under restrictions with respect to withdrawals from deposit accounts.2 Some of the 

restricted banks were later reorganized or reopened but the majority of 

them were ultimately placed in liquidation or receivership. Of the noninsured banks closed during 1934-1962, nearly one-fourth were unincorporated, usually referred to as private banks. Most of the private banks, 

and a few others chartered under a State law regarding cooperative institutions, were operating with no supervision nor examination by a

bank supervisory agency.

1 In addition, two mutual savings banks, both insured, were closed because of financial difficulties 

during the period 1934-1962. The figure given here for commercial banks excludes one Illinois bank 

that was placed in receivership in 1934, but had no deposits at that time. See Table 22, note 9.

2 Banks which had been placed under restrictions and reported as suspending prior to 1934, but 

continuing to operate on a restricted basis after the beginning of 1934, are not included as suspensions 

subsequent to January 1, 1934.

27

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28 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 15. N u m b e r a n d D e po s it s of C o m m e r c ia l B a n k s C losed B ec a u s e of

F in a n c ia l D if f ic u l t ie s , 1934-1962, b y Y e a r s

Year

Number Deposits (in thousands)

Total

Noninsured 1

Insured

Total

Noninsured 1

Insured

Total

Without 

disbursements 

by 

FDIC 2

With 

disbursements 

by 

FDIC 3

Total

Without 

disbursements 

by 

FDIC 2

With 

disbursements 

by 

FDIC *

1934-62.. 573 125 448 8 440 $694,351 $57,501 $636,850 $41,147 $595,703

1953-62.. 46 17 29 4 25 120,008 10,058 109,950 39,544 70,406

1943-52.. 42 11 31 1 30 63,059 6,107 56,952 1,190 55,762

1934-42.. 485 97 388 3 385 511,284 41,336 469,948 413 469,535

19 6 2 .... 3 2 1 1 4,231 1,220 3,011 3,011

19 6 1 .... 9 4 5 5 10,611 1,675 8,936 8,936

1960... . 2 1 1 1 7,965 1,035 6,930 6,930

19 5 9 .... 3 3 3 2,595 2,595 2,595

1958___ 9 5 4 4 10,413 2,173 8,240 8,240

1957___ 3 1 2 1 12,502 1,255 11,247 10,084 1,163

19 5 6 .... 3 1 2 2 11,689 360 11,329 11,329

1 9 5 5 .... 5 5 5 11,953 11,953 11,953

1 9 5 4 .... 4 2 2 2 2,948 1,950 998 998

1953___ 5 1 4 2 2 45,101 390 44,711 26,449 18,262

1952... . 4 1 3 3 3,313 143 3,170 3,170

1951 . . . . 5 3 2 2 6,464 3,056 3,408! 3,408

1950... . 5 1 4 4 5,555 42 5,5131 5,513

1949___ 9 4 5 1 4 9,217 2,552 6 ,665! 1,190 5,475

1 9 4 8 .... 3 3 3 10,674 10,674! 10,674

1 9 4 7 .... 6 1 5 5 7,207 167 7,040 7,040

1946... . 2 1 1 1 494 147 347 347

1 9 4 5 .... 1 1 1 5,695 5,695 5,695

1944 . . . . 2 2 2 1,915 1 ^915 1 ’,915

1943 . . . . 5 5 5 12,525 12,525 12,525

1942 . . . . 23 3 20 20 19,541 355 19,186 19,186

19 4 1 .... 16 2 14 14 18,805 79 18,726 18,726

1940___ 48 5 43 43 142,787 358 142,429 142,429

1939... . 71 12 59 59 158,626 2,439 156,187 156,187

1 9 38.... 79 7 72 72 57,965 1,038 56,927 56,927

1937___ 83 7 76 2 74 34,141 528 33,613 328 33,285

19 3 6 .... 72 3 69 69 28,100 592 27,508 27,508

1935___ 32 6 26 1 25 13,987 583 13,404 85 13,319

1934___ 61 52 9 9 37,332 35,364 1,968 1,968

1 For information regarding each of these banks, see Table 22. One noninsured bank placed in receivership in 1934, with no deposits at time of closing, is omitted (see Table 22, note 9). Deposits 

are unavailable for 7 banks.

2 For information regarding these cases, see Table 23.

3 For information regarding each bank, see the Annual Report of the Federal Deposit Insurance 

Corporation for 1958, pp. 48-83 and pp. 98-127, and tables regarding deposit insurance disbursements 

in subsequent annual reports. Excludes the following cases requiring disbursements by the Corporation: 1 mutual savings bank in 1938 (payoff case no. 157); 1 mutual savings bank in 1939 (deposit 

assumption case no. 83); 1 bank in voluntary liquidation in 1937 (payoff case no. 90); 1 noninsured 

bank with insured deposits at date of suspension, its insurance status having been terminated prior to 

suspension (payoff case no. 162); and 1 foreign-owned bank closed in 1941 by order of the Federal Government (payoff case no. 234).

The figures for insured commercial banks closed because of financial 

difficulties differ slightly from those requiring disbursements by the Corporation.3 The figures used here include eight insured banks which closed 

because of financial difficulties but which were reopened, or were taken 

over by other banks, without any disbursement by the Corporation, and

8 See pages 4-6 and 178-183 of this report.

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BANKS CLOSED BECAUSE OF FINANCIAL DIFFICULTIES 29

exclude two mutual savings banks and three other cases in which the 

Corporation made disbursements.4

Over four-fifths of the commercial banks closed during 1934-1962, 

holding about three-fourths of the deposits of all the banks closed, were 

closed during the first nine years of the period. A large proportion of 

these were banks that had been reopened after the banking holiday of 

1933, but were unable to recover from their previous difficulties.

T ab le 16. L osses to D epo s it o r s an d to th e F e d e r a l D e p o s it I n su r a n c e

C o r p o r a t io n in C o m m e r c ia l B a n k s C losed B ec a u se o f F in a n c ia l

D if f ic u l t ie s , 1934-1962, b y Y e a r s

Amount of losses (in thousands)

Year

Total

Noninsured 

banks (to 

depositors)1

Insured banks

Total To depositors 2

To 

FDIC 2

1934-1962.

1953-1962.

1943-1952.

1934-1942.

1962...........................

1961..........................

1960...........................

1959...........................

1958...........................

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

1956...........................

1955...........................

1954...........................

1953...........................

1952...........................

1951...........................

1950...........................

1949...........................

1948...........................

1947...........................

1946...........................

1945...........................

1944...........................

1943...........................

1942...........................

1941...........................

1940...........................

1939...........................

1938.............................

1937...........................

1936.............................

1935.............................

1934.............................

Unallocated by years.

$41,825

4,754

4,653

32,418

93

2,040

257

115

195

$10,509

1,736

1,210

7,563

93

$31,316

3,018

3,443

24,855

257

i47

2,040

115

48

$2,280

521

16

1,743

444

10

8

$29,036

2,497

3,427

23,112

1,596

105

40

433

237

668

70

792

397

1,385

438

641

74

116

407

70

317

237

261

394 

' 69

792

3

1,385

369

641

74

52

7

265

230

261

792

3

1,385

369

641

74

43

136

708

624

3,835

8,527

2,268

3,705

2,640

3,305

6,709

1,490

15

26

438

260

45

14

185

6,483

1,490

43

136

693

624

3,809

8,089

2,008

3,660

2,626

3,120

226

13

5

33

31

936

22

110

171

416

19

40

123

688

591

3,778

7,153

1,986

3,550

2,455

2,704

207

1 Figures for the respective years are losses on common claims, nearly all of which are depositors’ 

claims, as tabulated for 98 banks for which information on results of liquidation is available (from Table 

19). Amount unallocated by years (but included in the period totals) is an estimate for the remaining 

banks on the assumption of a similar rate of loss (from Table 19, note 1).

2 Excludes $182 thousand unclaimed insured deposits. Excludes loss in one mutual savings bank 

(payoff case no. 157). Includes loss to FDIC in one bank that closed subsequent to termination of its 

insured status (payoff case no. 162). In the other three cases mentioned in Table 15, note 3 there was 

no loss to depositors nor FDIC.

4 The three cases include one insured bank in voluntary liquidation for which the Corporation was 

liquidator, one noninsured bank with insured deposits at date of suspension (the insured status of the 

bank having been terminated prior to suspension), and one foreign-owned bank closed in wartime by 

order of the Federal Government.

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30 FEDERAL DEPOSIT INSURANCE CORPORATION

Losses in banks closed because of financial difficulties. Total losses 

on deposits in the commercial banks closed because of financial difficulties during 1934-1962, including both the losses to depositors and to the 

Corporation, amounted to $42 million. Of this, $11 million was losses 

to depositors in the closed noninsured banks, $2 million to depositors in 

closed insured banks, and $29 million to the Federal Deposit Insurance 

Corporation. The losses in the noninsured banks were about one-fifth of 

the deposits in the banks at the time of closing. Losses to the Corporation plus those to the depositors in the closed insured banks were about 

one-twentieth of the deposits in the banks at the time of closing.

Table 16 shows by year the losses on deposits in commercial banks 

closed because of financial difficulties. More than three-fourths of the 

losses occurred in the banks closed during 1934-1942, primarily in banks 

that had reopened after the banking holiday of 1933 but had not been 

able to extricate themselves from their financial troubles.

Relation of closed to operating banks. Though the number and deposits of insured commercial banks closed because of financial difficulties 

are larger than those for noninsured banks, the figures for the insured 

banks are much smaller than those for noninsured banks in comparison 

with banks in active operation. Table 17 shows for three time periods, 

1934-1942, 1943-1952, and 1953-1962, and for the entire period the 

relation to operating banks of the number, deposits, and losses on deposits, of insured and noninsured banks that closed because of financial 

difficulties.

Table 17. R e l a t io n to O p e r a t in g B a n k s of th e N u m b e r , D e p o s it s,

an d L osses on D e po s it s of C o m m e r c ia l B a n k s C losed B ec au se

of F in a n c ia l D if f ic u l t ie s , 1934-1962

1934-1962 1934-1942 1943-1952 1953-1962

Average annual number of banks closed per

1,000 banks operating at beginning of

1.4 3.6 0.3 0.3

5.1 8.5 1.3 3.6

1.1 3.2 0.2 0.2

Average annual deposits in banks closed per

$100 of deposits in operating banks at

beginning of year—-total............................... $0,018 $0,110 $0,005 $0,006

Noninsured............................................................. .090 .269 .022 .049

Insured.................................................................... .017 .105 .004 .005

Average annual loss on deposits 1 per $100 of

deposits in operating banks at beginning

of year— total................................................... $0,001 $0,007 $0.0003 $0.0002

Noninsured............................................................. .016 .049 .0043 .0085

Insured.................................................................... .001 .006 .0003 .0002

1 Loss to FDIC and to depositors.

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BANKS CLOSED BECAUSE OF FINANCIAL DIFFICULTIES 31

For the entire period failures of noninsured commercial banks averaged 5 per year per 1,000 banks in operation, while for insured banks 

the corresponding rate wras 1 per year per 1,000 banks in operation. The 

deposits in the closed noninsured banks averaged 9 cents per year per 

$100 of deposits in operating banks; but the deposits in the closed insured banks averaged less than 2 cents per year per $100 of deposits in 

operating banks. Losses on deposits in the closed noninsured banks averaged 1.6 cents per year per $100 of deposits in operating banks. The 

losses on deposits in the closed insured banks (borne largely by the 

Corporation) averaged only one-tenth of 1 cent per year per $100 of 

deposits in operating banks.

The number and deposits of operating banks at the beginning of each

Table 18. N u m b e r an d D e po sit s o f O p e r a t in g C o m m e r c ia l B a n k s , 1934-1962,

b y I n su r a n c e St a t u s 1

Year

Number Deposits (in millions)

Total Noninsured Insured Total Noninsured Insured

Dec. 31

1962................. 13,439 315 13,124 $263,060 $1,616 $261,444 2

1961................. 13,444 329 13,115 249,504 1,599 247,905

1960................. 13,484 358 13,126 230,532 1,539 228,993

1959................. 13,486 372 13,114 220,514 1,503 219,012

1958................. 13,540 416 13,124 217,291 2,123 215,169

1957................. 13,607 442 13,165 202,483 1,998 200,485

1956................. 13,681 463 13,218 198,547 2,040 196,507

1955................. 13,757 520 13,237 193,205 2,216 190,988

1954................. 13,881 558 13,323 185,671 2,362 183,309

1953................. 14,024 592 13,432 177,580 2,497 175,083

1952................. 14,086 647 13,439 173,828 2,471 171,357

1951................. 14,132 677 13,455 165,703 2,531 163,172

1950................. 14,163 717 13,446 156,105 2,607 153,498

1949................. 14,198 762 13,436 145,969 2,774 143,194

1948................. 14,217 798 13,419 143,654 2,971 140,683

1947................. 14,229 826 13,403 145,005 3,116 141,889

1946................. 14,213 854 13,359 140,014 2,985 137,029

1945................. 14,178 876 13,302 151,290 3,479 147,811

1944................. 14,164 896 13,268 129,039 3,287 125,752

1943................. 14,202 929 13,273 106,675 2,559 104,116

1942................. 14,299 952 13,347 89,743 1,923 87,820

1941................. 14,448 1,018 13,430 71,678 2,258 69,420

1940................. 14,520 1,078 13,442 65,722 2,252 63,476

1939................. 14,653 1,115 13,538 58,000 1,924 56,076

1938................. 14,824 1,163 13,661 51,470 1,691 49,779

1937................. 15,003 1,205 13,798 48,802 1,578 47,224

1936................. 15,254 1,281 13,973 50,984 1,701 49,283

1935................. 15,466 1,339 14,127 45,717 1,567 44,150

1934................. 15,562 1,414 14,148 40,253 1,228 39,024

Jan. 1

1934 3............... 14,796 1,792 13,004 30,990 1,191 29,798

1 Includes stock savings banks and trust companies not regularly engaged in deposit banking. 

Figures for noninsured banks have been revised and except for recent years supersede those published 

in earlier Annual Reports of the Federal Deposit Insurance Corporation.

2 As of December 28.

* Deposits as of December 30, 1933, for banks which opened for business on January 2, 1934, as 

insured or noninsured banks, respectively. The total number and total deposits differ from those for all 

operating commercial banks on December 30, 1933, by excluding banks which ceased operations and 

by taking account of mergers and absorptions between the close of business on December 30, 1933, 

and the opening of business on January 2, 1934. The figures also exclude banks that were operating on 

a restricted basis but were later placed in liquidation or receivership, which have been treated in banking statistics as closed in 1933.

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32 FEDERAL DEPOSIT INSURANCE CORPORATION

year (as tabulated for the last day of the preceding year), used in computing the annual rates for closed banks, are given in Table 18. At the 

end of 1962 the number of insured banks was slightly larger than when 

Federal deposit insurance became effective on January 1, 1934. At the 

beginning of 1934, there were 1,792 commercial banks and trust companies that had not become insured. By the end of that year, the number 

had been reduced to 1,414, largely through qualification for admission 

to insurance. At the end of 1962, there were 315 noninsured commercial 

banks and trust companies. Suspensions due to financial difficulties have 

accounted for less than one-tenth of the decline in the number of noninsured commercial banks since the beginning of Federal deposit insurance.

T ab le 19. R esults of Liquidation of N oninsured C ommercial B an ks C losed

B ecause of F in ancial D ifficulties, 1934-1962, b y Y ears

(Amounts in thousands of dollars)

Banks for which 

liquidation inBanks for which information on results of liquidation is available

formation is not 

available 1 Liabilities paid and unpaid

Year

Number Deposits

Number

Deposits 

(at suspension 

or call 

date 

prior to 

closing)

Claims 

allowed 

(deposits 

and 

borrowings) 2

Paid on 

secured 

or preferred 

claims 

or by 

offset

Paid

on

common

claims

Loss

on

common

claims

1934-1962.. 27 $7,342 98 $50,159 $44,503 $5,066 $30,416 $9,019

1962........... 1 74 1 1,146 1,146

277

1,053

277

93

1961 ....... 3 1,402 1 273 none

1960 1 1,035

1,719

298 11 30 257

1958........... 3 454 2 1,922 211 1,565 147

1957 1 1,255

1956 1 360 587 216 256 116

1954 1 (3) 1 1,950

390

2,035

545

1,628

475

407

1953 . 1 70

1952 ......... 1 143 150 13 137 none

1951........... 1 1,967 2 1,089

42

1,620

42

101 1,125

42

394

1950 1 none

1949........... 3 1,545

167

1 1,007 748 290 389 69

1947 ......... 1

1946 1 147 147 147 none

1942........... 1 125 2 230 302 2 285 15

1941........... 1 (3) 1 79 79 n.a. 79 none

1940........... 2 ;2

(3)

3 346 340 32 282 26

1939........... 2 10 2,439 1,934 229 1,268

474

438

1938........... 1 (s) 6 1,038 940 206 260

1937 ......... 7 528 464 20 399 45

1936 3 592 718 394 310 14

1935 ......... 6 583 643 176 282 185

1934........... 6 341 46 35,023 29,565 3,165 19,917 6,483

1 The loss in these banks is estimated at SI,490 thousand, by assuming the same average percentage 

loss on deposits (20.3 percent) as on claims allowed in the cases with information on results of liquidation 

available.

2 Claims allowed (excluding borrowings) usually differ from deposits shown in the preceding column 

for various reasons: in some cases the deposit figure is for a call date preceding the closing of the bank; 

claims may not be filed for some deposits; and claims may be filed and allowed for deposits not on the 

bank’s books. In addition, about half of the banks closed in 1934 were first placed on a restricted basis, 

and deposits released prior to placing the bank in liquidation or receivership (though included in deposits 

at date of suspension) are excluded from claims allowed and the portions of such claims paid and unpaid.

3 Not available. Deposit information is also unavailable for 1 bank in 1934 and 1 in 1940.

Note: Due to rounding, components may not add precisely to total.

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BANKS CLOSED BECAUSE OF FINANCIAL DIFFICULTIES 33

Creditors’ claims and recoveries in closed noninsured banks. For

27 of the 125 noninsured commercial banks closed because of financial 

difficulties information has not been obtained regarding the results of 

liquidation. In three of these cases deposits were paid in full, but the 

amounts of the claims are not known. For the 98 cases for which the 

results of liquidation are available, or can be estimated from partial 

data, the creditor claims allowed by the receivers or liquidators, including deposits assumed by absorbing institutions, amounted to $45 

million. Of this amount at least $5 million was paid as secured or preferred claims or through offset to amounts owed to the banks, approximately $30 million was paid in the form of dividends on common claims, 

and approximately $9 million remained unpaid. Assuming a similar

Table 20. R e s u l t s o f L iq u id a t io n o f N o n in su r e d C o m m e r c ia l B a n k s C lo sed

B e c a u se o f F in a n c ia l D if f ic u l t ie s , 1934-1962, b y St a t e s

(Amounts in thousands of dollars)

Banks for which 

liquidation inBanks for which information on results of liquidation is available

formation is 

not available 1 Liabilities paid and unpaid

State

NumberDeposits

Number

Deposits 

(at suspension 

or call 

date 

prior to 

closing)

Claims 

allowed 

(deposits 

and 

borrowings) 2

Paid on 

secured 

or preferred 

claims 

or by 

offset

Paid

on

common

claims

Loss

on

common

claims

1934-1962............... 27 $7,342 98 $50,159 $44,503 $5,066

2

$30,416

231

$9,019

Alabama................. 1 186 232 none

Arkansas................. 5 (3) 5 n.a. n.a. n.a. n.a. (3)

Colorado................. 5 1,893

219

1,315 11 976 327

Georgia................... 10 1,108

238

3 224 15 207 2

Illinois..................... 2 1 28 76 49 27 none

Indiana................... 4 228 13 2,060 1,878 184 1,221 473

Iowa. ...................... 4 708 492 9 372 111

Kansas.................... 9 3,017 3,543 381 2,514

891

647

Kentucky................ 4 1,806 1,392 191 310

Louisiana................ 1 43 48 9 39 none

Michigan................ 2 1,967 2 972 1,466 105 968 394

Missouri................. 15 2,080 2,183 175 1,414 593

Nebraska .......... 6 1,623

1,569

22,114

7,059

15

1,616

1,654

17,468

1,424

1,451

11,256

4,870

12

193

New Hampshire. . . 1 130 74

New Jersey............ 8 2,508 3,705

1,224

none

New York.............. 2 6,093

North Dakota........ 1 13 1

Ohio ...................... 3 722 610 73 524 14

Oklahoma............... 2 64 63 52 11

Pennsylvania........ 2 467 551 53 200 298

South Carolina. . . . 2 211 216 43 103 71

Tennessee............. 2 290 193 122 54 18

Texas...................... 4 3,801 4 1,660 1,495 674 752 69

Virginia ............... 2 467 499 92 351 56

W ashington............ 1 167 159 102 51 6

Wisconsin............... 4 719 1,023 138 460 425

1 See Table 19, note 1.

2 See Table 19, note 2.

* Not available, but in 3 cases deposits were paid in full. Deposits are also unavailable for 1 bank 

in Georgia and 1 in Michigan.

Note: Due to rounding, components may not add precisely to total.

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34 FEDERAL DEPOSIT INSURANCE CORPORATION

rate of loss on the deposits of the banks for which liquidation information is unavailable, the total loss to depositors in all the suspended 

noninsured banks is estimated at approximately $11 million.

Table 19 gives a distribution by year, and Table 20 by State, of the 

closed noninsured banks for which liquidation information is available, 

showing their number, their deposits, the reported or estimated amounts 

of claims allowed, payments on such claims, and loss on common claims. 

The tables also show the number and deposits of these for which 

liquidation information is not available. By States, the largest number 

of closings occurred in Indiana and Missouri, but the State with the 

largest proportion of the deposits and losses was New Jersey. Most of 

the failures in these States were in 1934, and were cases of banks previously in difficulty which had reopened after the banking holiday in 

1933, but proved unable to survive or could do so only after reorganization.

Table 21 gives a classification of the failed noninsured banks according to the percentage of claims allowed which were paid, and also according to the percentage dividends on common claims. Of the 101 banks 

for which estimates of losses are available, 33 paid creditors in full, 42 

paid 70 percent or more but not all of the claims, and 26 paid less than 

70 percent. Distributions of the insured banks in which the Corporation 

had made disbursements, according to percentage recoveries by the Corporation, are given for payoff cases on page 44 and for deposit assumption cases on page 95 of the Annual Report of the Corporation for 1958.

Data for individual banks. Table 22 lists the noninsured banks closed 

because of financial difficulties, with dates of suspension, amount of deposits, and the available information, including estimates, regarding the

T a b le 21. D is t r ib u t io n of N o n in su r e d C o m m e r c ia l B a n k s C lo sed B e c a u s e

o f F in a n c ia l D if f ic u l t ie s, 1934-1962, b y P e r c e n t a g e o f L ia b il it ie s

P a id , an d b y P e r c e n t a g e D iv id e n d s on C om m on C laim s

Number classified by—

Percentage of liabilities 

or common claims paid Percentage

of

liabilities

paid

Percentage 

dividends 

on common 

claims

Total number........................................................................................... 125 125

100 percent.............................................................................................. 33 33

90..0—99.9 percent................................................................................... 20 13

80,.0—89.9 percent................................................................................... 9 10

70.0—79.9 percent................................................................................... 13 12

60.0—69.9 percent................................................................................... 8 12

50.0—59.9 percent................................................................................... 9 7

25.0—49.9 percent................................................................................. 7 12

Under 25.0 percent.................................................................................. 2 2

Not available........................................................................................... 24 24

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS CLOSED BECAUSE OF FINANCIAL DIFFICULTIES 35

results of liquidation. Table 23 lists the eight insured banks closed because of financial difficulties without requiring disbursements by the 

Corporation. Insured banks that have required disbursements by the 

Corporation prior to the end of 1958 are listed in the Corporation’s annual report for 1958, pages 48-53 and 98-103; and those requiring disbursements in subsequent years in the succeeding annual reports.

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T ab le 22. L ocation , N a m e, A m ount of D eposits, L iabilities Paid, and L oss on C ommon C laim s, N oninsured C ommercial B an ks C losed §>

Because o f F in an cial D iffic u ltie s , 1934-1962

(Items marked n.a. are not available; those marked * are estimated)

Suspended (replaced 

under restrictions) 1

Disposition 2 Liabilities paid and unpaid *

Location and title of banks 

(private = unincorporated)

Date

Deposits

(thousands)

VL

L

R

= voluntary liquidation 

= other liquidation cases 

= reorganized, reopened, or 

succeeded

Paid on secured or 

preferred 

claims or

Paid on 

common 

claims

Loss on 

common 

claims

Percent 

paid on 

deposits 

or common

Date Liabilities

by offset claims 4

Alabama

Tuskegee: Tuskegee Institute Savings Bank............. Feb. 4,1942 $ 186 VL Feb. 4, 1942 $ 232,487 $ 1,972 $ 230,515 $ none 100.00%

Arkansas *

Black Oak: Black Oak Banking Company................ Feb. 11, 1938 

May 2, 1939 

Nov. 24, 1939

n.a. L n.a. n.a. n.a. n.a. n.a. n.a.

Mineral Springs: Mineral Springs Exchange Co.......

Dyess: Farmers Exchange & Loan Co........................

n.a.

n.a.

R

VL

May 19, 1939 

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

n.a.

none*

none

100.00*

100.00

Osceola: Commerce Banking Co................................. Jan. 2, 1940 

July 9, 1941

n.a. VL n.a. n.a. n.a. n.a. none 100.00

Siloam Springs: College Bank and Savings Corp.. . . n.a. L n.a. na.. n.a. n.a. n.a. n.a.

Colorado

Denver: The Union Trust C o.6.................................. Jan. 25, 1937 

Aug. 3, 1946 

Jan. 31, 1953 

Oct. 10, 1960 

May 5, 1961

48 L 1937 48,000*

147,000*

545,000

298,037

276,522

48,000*

147,000*

475,000*

29,745

276,522

none* 100.00*

Englewood: Englewood Industrial Bank.................... 147 L n.a. none 100.00

Denver: Broadway Industrial State Bank 7.............. 390 L Jan. 31, 1953 

Oct. 10, 1960 

May 15, 1961

70,000*

257,425*

none

87.16*

Boulder: Boulder Industrial Bank 8............................ 1,035

273

L 10,867 10.36*

Boulder: Commonwealth State Bank......................... R 100.00

Georgia

Hillsboro: Bank of Hillsboro....................................... Oct. 20, 1934 

July 18, 1940 

Oct. 7, 1947 

Apr. 28, 1949 

Apr. 29, 1949 

July 12, 1950 

Mar. 14, 1952 

Nov. 18, 1954

34 L Oct. 20, 1934 31,822

n.a.

1,952*

n.a.

27,719

n.a.

2,151*

n.a.

92.80

Collins: Bank of Collins (private)............................... 12 L July 18, 1940 

Oct. 7, 1947 

Apr. 28, 1949 

Apr. 29, 1949 

July 12, 1950 

Mar. 14, 1952

n.a.

Brooklet: Brooklet Banking Co. (private)................ 167 L n.a. n.a. n.a. n.a. n.a.

Jasper: Commercial Bank (private)........................... 190 L n.a. n.a. n.a. n.a. n.a.

Blairsville: Farmers and Merchants Bank (private). 

Ludowici: Long Banking Co. (private)......................

109

42

L

L

n.a.

42,000*

150,091

n.a.

n.a. n.a.

42,000*

136,791*

n.a.

n.a.

none

n.a.

100.00

Kennesaw: Kennesaw State Bank.............................. 143 L 13,300

n.a.

none 100.00

Fort Valley: Peoples Bank (private)......................... n.a. L Nov. 18, 1954 n.a. n.a.

Fitzgerald: Peoples Bank (private)............................ Jan. 6, 1958 

Apr. 19, 1958

30 L Jan. 6, 1958 

Apr. 19, 1958

n.a. n.a. n.a. n.a. n.a.

Valdosta: Industrial Banking Company (private)... 420 L n.a. n.a. n.a. n.a. n.a.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Statenville: The Private Bank (private)....................

Boston: Jarret Bank (private).....................................

Ucilla: The Uitizens Bank (private)...........................

Illinois

Grafton: Grafton State Bank......................................

Chicago: Central Republic Trust Co.9.......................

Rockford: Rockford Trust Co.....................................

Kell: Kell State Bank...................................................

Indiana

Butler: Knisely Bros. & Co............................ .............

Bridgeton: Bridgeton Bank (private).........................

Cory: Citizens Bank (private).....................................

Charlottesville: Citizens Bank (private)....................

Valparaiso: Thrift Trust Co.10.....................................

Darlington: Farmers & Merchants State Bank 11___

Burket: Bank of Seward (private)..............................

Lawrence: Lawrence State Bank................................

Montmorenci: Montmorenci Bank 10..........................

Browns Valley: Browns Valley Bank (private)........

Forest: Citizens Bank (private)..................................

Elnora: Citizens Bank (private).................................

Straughn: Peoples Bank (private)..............................

Acton: Acton State Bank.............................................

New Salem: New Salem Bank (private) 10................

Macy: Citizens Bank (private) 10................................

Laurel: Laurel Bank (private)....................................

Iowa

Amber: Amber Savings Bank........ .............................

Rossie: Rossie Savings Bank.......................................

Dike: Dike Savings Bank............................................

Chatsworth: Chatsworth Savings Bank....................

Kansas

Severance: Bank of Severance (private)....................

Codell: Codell State Bank...........................................

Scranton: Security State Bank...................................

Morganville: Bank of M organville.............................

Grinnell: Grinnell State Bank.....................................

Corbin: Corbin State Bank.........................................

Valley Center: Farmers & Merchants State Bank...

Smolan: Smolan State Bank........................................

Hoyt: Hoyt State Bank 10..........................................

June 1958 

Jan. 30, 1961 

Sep. 24, 1962

Jan. 18, 

Nov. 21, 

Mar. 24, 

Aug. 26,

Jan. 2, 

Feb. 3, 

Jan. 6, 

Mar. 21, 

Feb. 27, 

Feb. 27, 

Feb. 28, 

Feb. 15, 

Mar. 6, 

Mar. 7, 

Mar. 12, 

Apr. 6, 

Apr. 10, 

July 19, 

Feb. 4, 

June 29, 

Sep. 14,

1934

1934

1935 

1942

1934(r)

1934

1934

1934

1934(r)

1934(r)

1934

1934

1934

1934(r)

1934 (r) 

1934(r) 

1934.

1935

1937

1938

1939

Mar. 1, 1937 

Apr. 14, 1937 

May 2, 1939 

Aug. 30, 1939

June 22, 

Apr. 30, 

July 27, 

Apr. 26, 

Aug. 19, 

Feb. 9, 

July 19, 

Feb. 16, 

July 3,

1934

1935

1936 

1939 

1939 

1951 

1954 

1956 

1958

4

102

74

113

none

28

125

485

51

84

100

424

306

80

112

104

47

45

102

28

18

93

197

12

54

210

370

74

72

43

115

66

96

165

1,950

360

150

L June 1958 n.a. n.a. n.a. n.a. n.a.

L Jan. 30, 1961 n.a. n.a. n.a. n.a. n.a.

, L Sep. 24,1962 n.a. n.a. n.a. n.a. n.a.

L June 1, 1934 n.a. n.a. n.a. n.a. n.a.

L Nov. 21, 1934 59,901,894* 59,901,894* none’1 none1'

L Mar. 26,1935 76,033 49,362* 26,671 none 100.00

VL Sep. 22, 1942 n.a. n.a. n.a. n.a. n.a.

L July 25,1934 439,386 32,520 397,341 9,525 97.67

VL Feb. 3, 1934 n.a. n.a. n.a. n.a. n.a.

L Jan. 12, 1934 84,022 4,978 72,920 6,124 92.25

L Mar. 31, 1934 89,968 4,753 47,216 37,999 55.29

VL Mar. 12, 1934 415,783* 23,792 192,250* 199,741* 49.00*

R Aug. 10, 1934 247,000* 116,000* 131,000* 45.00

L Feb. 28, 1934 91,929 25,555 58,284 8,090 85.00

VL Feb. 15, 1934 38,120 38,120 none none

L Mar. 6, 1934 108,154 4,576 58,094* 45,484* 56.00*

VL Mar. 26, 1934 n.a. n.a. n.a. n.a. n.a.

L June 1, 1934 55,645 13,985 31,259 10,401 75.00

VL Apr. 9, 1934 n.a. n.a. n.a. n.a. n.a.

VL Apr. 10, 1934 n.a. n.a. n.a. n.a. n.a.

L July 19, 1935 2,368 1,194 1,174 none 100.00

L Feb. 4,1937 109,249 8,628 92,209* 8,412* 92.00*

L June 29, 1938 184,276 25,099 142,596* 16,581* 89.00*

L Sep. 14, 1939 11,996 649 11,347 none 100.00

L n.a. 62,325 865 42,770 18,690 69.57

L June 1937 100,961 126 90,164 10,671 90.00

L July 1939 254,862 7,591 165,595 81,676 68.60

R Feb. 26, 1940 73,584* 73,584* none 100.00

L June 22, 1934 86,820 13,279* 73,541 none 100.00

L Apr. 30, 1935 43,961 14,229* 26,597 3,135* 91.33

L July 27, 1936 128,866 28,421* 99,156 1,289* 99.00

L Apr. 26, 1939 72,580* 72,580* none 100.00

L Aug. 19,1939 116,720 28,226* 41,681* 46,813* 47.10

L Feb. 9, 1951 203,366 203,366* none 100.00

R Oct. 4, 1954 2,035,208 1,628,166* 407,042* 80.00

L Feb. 16, 1956 587,344 215,574 255,592 116,178 68.75

L July 3, 1958 267,735* 81,594 113,546 72,595* 61.00

BANKS CLOSED BECAUSE OF FINANCIAL DIFFICULTIES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 22. L ocation, N am e, A m ount of D eposits, L iabilities Paid, and L oss on C ommon C laim s, N oninsured C ommercial B anks C losed w

B ecau se o f F in an cial D iffic u ltie s, 1934-1962— Continued

(Items marked n.a. are not available; those marked * are estimated)

Location and title of banks 

(private = unincorporated)

suspended (r = placed Disposition 2 Liabilities paid and unpaid *

Date

Deposits

(thousands)

VL

L

R

= voluntary liquidation 

= other liquidation cases 

= reorganized, reopened, or 

succeeded

Paid on secured or 

preferred 

claims or 

by offset

Paid on 

common 

claims

Loss on 

common 

claims

Percent 

paid on 

deposits 

or common 

claims 4

Date Liabilities

Kentucky

Golden Pond: Bank of Golden Pond.......................... Feb. 24, 1939 $ 17 L Feb. 24, 1939 $ 40,522* $ 33,714* $ 6,808* 83.20%

Louisville: Peoples Bank of Louisville 10.................... May 22, 1939 905 L May 22, 1939 529,009* $ 143,967 243,599* 141,443* 38.10

Campbellsville: Bank of Campbellsville 10................. June 5, 1939 697 L June 5, 1939 633,672* 47,143* 454,101* 132,428* 76.20

Covington' Southern Exchange Bank Antf. 12 1939 187 L Aug. 12 1939 188,747* 159,883* 28,864* 62.00

Louisiana

Montpelier: Farmers Bank.............. ........ Jan. 19, 1938 43 L Jan. 19, 1938 47,712 8,74 5 38,969 none 100.00

Michigan

Goodells: C. C. Peck & Co., Bankers (private)........ Jan. 10, 1934 n.a. L Jan. 10, 1934 n.a. n.a. n.a. n.a. n.a.

Garden City: Garden City State Bank...................... Jan. 3, 1934 48 L May 8, 1934 49,976* 3,708 46,268* none 100.00

West Branch: The Commercial Bank of Tolfree,

Livingstone & Co. (private).................................... July 27, 1951 1,967 L July 27, 1951 n.a. n.a. n.a. n.a. n.a.

Pickford: Bank of Pickford, Beacorn, Taylor, Hossacks & Co., Proprietors (private) 10....................... Nov. 1, 1951 924 L Nov. 1, 1951 1,416,235 101,426 921,283* 393,526* 69.00

Missouri

Hurdland: Farmers Bank of Hurdland...................... Jan. 3, 1934 74 L July 5, 1934 59,079* 10,000* 19,224* 29,855* 39.17

Russellville: Russellville Exchange Bank 12............... Jan. 17, 1934(r) 346 R July 14, 1934 365,944 20,000* 207,566* 138,378* 60.00

Hermann: Farmers & Merchants State Bank of

Hermann.................................................................... Feb. 13, 1934 (r) 288 L Dec. 14, 1934 329,942 11,233 285,882* 32,827* 89.70

Ray vilie: Bank of Rayville.......................................... Apr. 16, 1934 41 L Apr. 16, 1934 50,164 8,000 17,287* 24,877* 41.00

Rhineland: Farmers Savings Bank............................. June 11, 1934(r) 267 L Aug. 27, 1935 279,996 15,638 205,750* 58,608* 77.83

McKittrick: McKittrick Bank................................... June 15, 1934 (r) 151 L Jan. 3, 1935 148,554 9,640 85,432* 53,482* 61.50

Marionville: Citizens Bank of Marionville................ Sep. 1, 1934(r) 144 L Jan. 11, 1935 134,060 8,177 96,049* 29,834* 76.30

Florence: Bank of Florence......................................... Nov. 8, 1934 32 L Nov. 8, 1934 34,218 2,500 12,529* 19,189* 39.50

North St. Joseph: Bank of North St. Joseph............ 1934(r) 180 L Aug. 26, 1935 186,540 10,496 139,163* 36,881* 79.05

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Missouri (continued)

Salisbury: The Traders Bank......................................

Raymore: Bank of Raymore.......................................

Worth: The Bank of Worth........................................

Henley: Peoples Bank of Henley................................

Granby: State Bank of Granby..................................

Reeds Spring: Shepherd of the Hills Bank................

Nebraska

Roseland: Roseland State Bank 13..............................

Hayland: First State Bank 14.......................................

Mullen: Citizens State Bank.......................................

Bennet: Citizens Bank of Bennet...............................

Shubert: The Citizens Bank........................................

Gresham: Gresham State Bank..................................

New Hampshire

Penacook: Valley Trust Company 1 5..........................

New Jersey

Bayonne: The Mechanics Trust Co............................

Camden: North Camden Trust Co.............................

Hawthorne: Peoples Bank of Hawthorne 16...............

Margate: Margate Trust Co........................................

Paterson: Merchants Trust Co....................................

Paterson: Security Trust Co........................................

Newton: Newton Trust Co. 17.....................................

Elizabeth: Elizabeth Trust Co. 18...............................

New York

Hudson: Hudson River Trust Company 1 9................

New Rochelle: Huguenot Trust Co. 2 0........................

North Dakota

Landa: First International Bank................................

Ohio

New Bremen: First City Bank (private)...................

Pomeroy: First City Bank (private)..........................

South Vienna: Farmers Deposit Bank (private). . . .

Oklahoma

Optima: First State Bank. . . 

Texola: Farmers State Bank.

July 23, 1935 209

Sep. 20, 1935 78

Nov. 25, 1936 49

Mar. 19, 1937 6 6

Aug. 23, 1937 45

Mar. 16,1938 1 1 0

Jan. 5, 1934(r) 90

Jan. 8 , 1934 115

Jan. 17, 1934 70

Sep. 27, 1940 158

Sep. 18, 1942 44

Oct. 20, 1962 1,146

June 24, 1958 1,569

Jan. 2, 1934(r) 8,607

Jan. 2, 1934 (r) 345

Jan. 2, 1934(r) 742

Jan. 2 , 1934 (r) 480

Jan. 2 , 1934 (r) 357

Jan. 2, 1934 (r) 252

Jan. 5, 1934 (r) 2,822

Jan. 18, 1934(r) 8,509

Jan. 3, 1934 2,941

Jan. 2, 1934 4,118

Feb. 1, 1939 15

Jan. 2, 1934 (r) 412

Jan. 20, 1934 (r) 2 0 2

Apr. 2 1 , 1934 (r) 108

Jan. 3, 1934 1 1

Jan. 24, 1938 53

L

L

L

L

VL

L

Jan. 10, 1936 

Sep. 20, 1935 

Nov. 25, 1936 

Mar. 19, 1937 

Aug. 31, 1937 

Mar. 16, 1938

R Mar. 5, 1934 

VL Jan. 8 , 1934 

Feb. 16, 1934 

Oct. 2 1 , 1940 

Sep. 2 1 , 1942

L

L

L

R Dec. 2 1 , 1962

L June 24, 1958

L June

R Jan.

R July

R Feb.

L July

L July

R Dec.

R June

17, 1936 

11, 1934

8 , 1936 

10, 1934 

10,1935 

10, 1935 

27, 1934

18, 1934

R Feb. 26, 1934 

R Jan. 31, 1934

L Feb. 1 , 1939

L Oct. 31, 1934 

L May 2 2 , 1934 

VL Aug. 28, 1935

VL Jan. 3, 1934 

L Jan. 24, 1938

228,952 54,564 99,401* 74,987* 57.00

74,852 3,000 36,213* 35,639* 50.40

46,913 34,012* 12,901* 72.50

75,107 9,572 58,326* 7,209* 89.00

57,961 57,961* none* 1 0 0 .0 0 '

110,261 12,014 59,538* 38,709* 60.60

94,000* 69,006* 24,994 73.41’

94,013 48,746* 45,267* 51.85’

50,403 47,631 2,772* 94.50

162,103 151,161* 10,942* 93.25

69,337 54,083* 15,254* 78.00

1,146,364 1,052,987 93,377 91.85

1,654,566 129,281 1,451,350 73,935 90.00

5,974,360 42,041 2,788,434 3,143,885* 47.00

492,771 147,610 345,161 none 1 0 0 . 0 0

1,378,777* 353,400* 1,025,377* none 1 0 0 . 0 0

690,705 210,621 420,084* 60,000 87.50

464,064 41,527 125,501 297,036* 29.00

254,486 12,754 38,136 203,596* 15.00

3,132,656* 735,456* 2,397,200* none 1 0 0 . 0 0

5,080,155* 964,355* 4,115,800* none 1 0 0 . 0 0

2,838,129 2,573,600* 264,529* 90.68'

3,255,294 2,295,942* 959,352* 70.53:

12,690 1,123 11,567 none 1 0 0 . 0 0

381,933* 43,452* 324,901 13,580* 90.00

134,077* 10,959* 123,118* none 1 0 0 . 0 0

94,420* 18,758* 75,662* none 1 0 0 . 0 0

30,024 30,024 none 1 0 0 . 0 0

32,750 21,615* 11,135* 6 6 . 0 0

CO

CDBANKS CLOSED BECAUSE OF FINANCIAL DIFFICULTIES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 22. L o c a t i o n , N a m e , A m o u n t o f D e p o s i t s , L i a b i l i t i e s P a i d , a n d L o s s o n C o m m o n C l a i m s , N o n i n s u r e d C o m m e r c i a l B a n k s C l o s e d ^

B e c a u s e o f F i n a n c i a l D i f f i c u l t i e s , 1934-1982— Continued 0

(Items marked n.a. are not available; those marked * are estimated)

Location and title of banks 

(private = unincorporated)

Suspended (r = placed 

under restrictions) 1

Disposition 2 Liabilities paid and unpaid *

VL

L

R

Paid on secured or 

preferred 

claims or 

by offset

Paid on 

common 

claims

Loss on 

common 

claims

Percent 

paid on 

deposits 

or common 

claims 4

Date

Deposits

(thousands)

= voluntary liquids 

= other liquidation 

= reorganized, reop 

succeeded

Date

ition 

cases 

tened, or

Liabilities

Pennsyl vania

Philadelphia: M. Rosenbaum Co. (private).............. Dec. 27, 1934 $ 1 1 0 L Dec. 27, 1934 $ 169,545 $ 14,427* $ 33,068* $ 122,050* 26.00%

Pine Grove: Pine Grove Bank (private).................... Jan. 27, 1938 357 L Jan. 27, 1938 381,800* 38,885* 167,000 175,915* 48.70

South Carolina

Fort Mill: Savings Bank of Fort M ill........................ Aug. 10, 1934 (r) 169 L Oct. 10, 1934 163,648 29,033* 79,278 55,337* 62.17

Jefferson: The Jefferson Depository........................... June 10, 1940(r) 42 L Oct. 10, 1940 52,205 13,774* 23,240 15,191* 52.00

Tennessee

Indian Mound: Bank of Indian Mound.................... June 18, 1937 1 2 L June 18, 1937 10,041* 401 9,640 none 1 0 0 . 0 0

Winchester: Home Bank & Trust Co. 21.................... Aug. 19, 1938 278 L Aug. 23, 1938 183,415 121,698 44,014 17,703 71.32

Texas

Edinburg: American State Bank & Trust Co............ Apr. 1 , 1936 428 L Apr. 1 , 1936 542,535 365,949 176,586 none 1 0 0 . 0 0

Jayton: First State Bank............................................. Apr. 19, 1940 146 R June 1, 1940 125,900 18,200* 107,700* none 1 0 0 . 0 0

Fulbright* Fulbright State Bank .................... Nov. 13, 1941 79 R Mar. 3, 1942 79,000* 79,000* none 1 0 0 . 0 0

Eagle Pass: Viguera Banking Co. (private).............. May 25, 1949 1,246 L May 25, 1949 n.a. n.a. n.a. n.a. n.a.

San. Juan: Valley State Bank...................................... June 26, 1949 1,007 L June 26, 1949 747,678 289,915 388,870 68,893 84.95

Fort Worth: Fraternal Bank & Trust Co. (private) . Mar. 22, 1957 1,255 L Mar. 22, 1957 n.a. n.a. n.a. n.a. n.a.

Zapata: Bank of Zapata (private).............................. July 17, 1961 862 L July 17, 1961 n.a. n.a. n.a. n.a. n.a.

Benavides: Merchants Exchange Bank, Uninc......... Sep. 27, 1961 438 L Sep. 27, 1961 n.a. n.a. n.a. n.a. n.a.

Virginia

Hanover: Tri-County Bank......................................... Jan. 13, 1934 369 R May 17, 1934 400,747 92,486* 252,191* 56,070 84.35*

Keysville • Planters B a n k ........................................... June 18, 1934 98 L June 18, 1934 98,565 98,565* none 1 0 0 . 0 0

Washington

Spokane: Lincoln Trust Co.......................................... Jan. 9, 1934 167 L Jan. 9, 1934 159,359 101,819 51,245* 6,295* 70.92

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Wisconsin

Abelman: Farmers State Bank................................... Jan. 6 , 1934 

9, 1934

254 R Jan. 18, 1934 295,211 43,163 103,729 148,319* 41.15*

St. Croix Falls: Bank of St. Croix Falls.................... June 2 0 0 L June 9, 1934 442,436 34,638 218,648 189,150* 53.62

Cable: Cable State Bank.............................................. Nov. 28, 1934 58 L Nov. 28, 1934 67,967 6,089 45,767 16,111* 73.50

Coloma: Coloma State Bank 22.................................... Jan. 26, 1935 207 R June 28, 1935 216,980 53,746 91,620 71,614* 64.00*

1 Date reported placed under restrictions, closed for examination, or suspending operations, with deposits as of nearest previous call date, or estimated at time of closing. Cases 

dated January 2, 1934, include banks that operated December 30, 1933, but were closed prior to the opening of business on January 2, 1934.

2 Date reported placed in receivership or liquidation (for private banks, closing date), or reorganized or reopened, with liabilities (deposits and other creditors’ claims) as reported 

from liquidation records. Items starred are estimated from other reported information, or given as estimates in original data.

3 From liquidation reports or information reported in connection with reopening or reorganization, with items starred estimated from other reported information or given as estimates in original data. Amounts shown as paid on secured or preferred claims or by offset include only amounts reported as such, or items (such as bills payable or government deposits) which were presumably secured. Amounts shown as payments on common claims are reported or estimated dividends paid by receivers, including deposits made available in 

reorganized banks, and also including amounts paid on secured or preferred claims, or by offset, which cannot be segregated from dividend payments on common claims.

4 Percentage paid on deposits or common claims generally refers to the percentage dividends paid, and because of payments by offset and in some cases on secured or preferred 

deposits usually differs from the percentage that might be computed from the sum of the estimated payments and estimated losses on common claims. However, in some cases the 

percentages are computed from estimated payments and losses. See also notes below regarding individual cases.

6 The cases in Arkansas were banking companies incorporated under the cooperative association law of 1921 and not operating under the banking code.

6 Trust company not engaged in deposit banking, with deposits consisting of trust funds.

7 Deposits of $390,000 paid in full; approximately $80,000 remained available for creditors’ lien of $155,000.

8 As of latest statement available. Liabilities exclude deposit claims not allowed, estimated at $737,293.

9 Excluded from Tables 15-21. Liabilities figure is described as bills payable and represents remaining portion of $90 million borrowed from the Reconstruction Finance Corporation in 1932.

10 As of latest statement available, adjusted to assume additional payments on common claims equal to reported amount of cash on hand.

11 55 percent of deposits trusteed, and some additional recovery may have been received.

12 60 percent of deposits assumed by new bank, but unacceptable assets trusteed and may have yielded something.

13 40 percent of restricted deposits waived.

14 Remaining assets liquidated for benefit of stockholders’ deposits and may have yielded something.

15 As of latest statement available. Amount given as paid on common claims includes savings deposits, which were paid in full. Estimated loss on common claims, and percent 

paid on such claims, refer to deposits and other creditors’ claims in the commercial department.

16 Holders of 75 percent of restricted deposits waived their claims and were given preferred stock, the last of which was retired in 1958.

17 December 1934 depositors received $1,078,740 in 4j^ percent preferred stock in exchange for waiver of 45 percent of deposits (excluding those secured, preferred, or offset). Stock 

retired by February 1947.

18 50 percent available immediately and 50 percent in class B preferred stock which was retired in 1948.

19 Certificates of beneficial interest issued in 1934 for deposits not made available at time of organization, amounting to $884,674, were reduced by dividends to $614,529. On 

June 30, 1937, holders of these certificates exchanged them for common stock having a par value of $175,000 and a book value of approximately $250,000. In 1952, deposit liabilities 

were assumed by another bank, and Hudson River Trust Company entered voluntary liquidation, “ having sufficient funds for the payment of all shareholders in full” . Assumption 

made that stockholders received $350,000, the amount of capital and surplus.

20 Certificates of beneficial interest issued in 1934 for deposits not made available at time of reorganization, amounting to $1,208,958, were exchanged in 1937 for common stock.

In 1952, bank merged with New Rochelle Trust Company, with Huguenot stockholders receiving stock in that company with book value of approximately $249,606 (excluding stock 

received for additional purchases of Huguenot stock).

21 Excluding insured deposits paid by FDIC. Deposits in this bank had been insured by FDIC from Jan. 1 , 1934, to April 1 , 1938, when insured status was terminated because 

bank continued to engage in unsafe or unsound practices. Insured deposits in the bank on that date less all subsequent withdrawals were insured at date of suspension. Total deposits 

on date of suspension were $277,955, of which $159,717 were insured and paid by FDIC. Bank had other liabilities (mostly secured) of $65,177.

22 One-half of deposits remaining after payment of stockholders’ assessment were waived; however, certain assets were trusteed for benefit of waiving depositors and may have 

yielded something.

Sources of Data: Published reports of State banking departments, correspondence with officials of State banking departments, and (for a few cases) other correspondence, newspaper reports, or FDIC records pertaining to successor or reorganized banks. ^

BANKS CLOSED BECAUSE OF FINANCIAL DIFFICULTIES

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to

Table 23. I n su r e d B a n k s C losed B ecau se of F in a n c ia l D if f ic u l t ie s W it h o u t D is b u r se m e n t s b y

th e F e d e r a l D e po sit I n su ran ce C o r p o r a t io n , 1934-1962

Date closed Location Name

Deposits

(in

thousands)

Disposition

April 10, 1935.. . . 

April 30, 1937. . . . 

July 23, 1937.......

July 30, 1949.......

April 11, 1953___

April 1 1 , 1953

June 20, 1957___

February 19, 1962

Oklahoma: Mountain Park.

Kentucky: Hartford............

Tennessee: Gadsden............

Oregon: Monmouth.

Illinois: Chicago.........

Illinois: Chicago.........

Texas: Del R io...........

Pennsylvania: Exeter.

Planters State Bank...............................

Hartford Deposit Bank..........................

Peoples Exchange Bank.........................

First National Bank of Monmouth

Devon North Town State Bank...........

West Irving State Bank of Chicago. . . .

Del Rio National Bank..........................

The First National Bank of Exeter. . . .

85

206

122

1,190

19,413

7,036

10,084

3,011

Reopened April 26, 1935 

Reopened May 17, 1937

Deposit liabilities assumed by Bank of Crockett, 

Bells, August 3, 1937

Deposit liabilities assumed by The United States 

National Bank of Portland, July 30, 1949

Reopened May 28, 1953

Reopened April 20, 1953

Reopened July 3, 1957

Deposit liabilities assumed by The Wyoming 

National Bank of Wilkes-Barre, February 26, 

1962

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
PART THREE

LEGISLATION AND REGULATIONS

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F e d e r a l L e g i s l a t i o n

No Federal legislation directly affecting federal deposit insurance or insured

banks, by virtue of their insured status, was enacted by the Congress during 1963.

R u le s a n d R e g u la t io n s o f t h e C o r p o r a t i o n

t i t l e 12— b a n k s an d b a n k in g

c h a p t e r III— f e d e r a l d e p o s it in su ra n ce

CORPORATION

P a r t 329— P a y m e n t o f D e p o s its a n d I n t e r e s t T h e r e o n

B y In s u r e d N o n m em b er B a n k s

Effective July 17, 1963, § 329.6 of the Rules and Regulations of the Federal

Deposit Insurance Corporation (12 CFR 329.6) is amended to read as follows:

§ 329.6 Maximum rates13 of interest payable on time and savings deposits by

insured nonmember banks— (a) Maximum rate of 4 percent. No insured nonmember bank shall pay interest accruing at a rate in excess of 4 percent per annum,

compounded quarterly,18 regardless of the basis upon which such interest may be

computed:

(1) On that portion of any savings deposit that has remained on deposit for

not less than 12 months,

(2) On any time deposit having a maturity date 90 days or more after the

date of deposit or payable upon written notice of 90 days or more,

(3) On that portion of any postal savings deposit which constitutes a time

deposit that has remained on deposit for not less than 12 months.

(b) Maximum rate of SY2 percent. No insured nonmember bank shall pay interest accruing at a rate in excess of ZV2 percent per annum, compounded quarterly,18 regardless of the basis upon which such interest may be computed:

(1) On any savings deposit, except as otherwise provided in paragraph (a)(1)

of this section.

(2) On any postal savings deposit which constitutes a time deposit, except as

otherwise provided in paragraph (a)(3) of this section.

(c) Maximum rate of 1 percent. No insured nonmember bank shall pay interest

accruing at a rate in excess of 1 percent per annum, compounded quarterly,13

regardless of the basis upon which such interest may be computed, on any time

deposit (except postal savings deposits which constitute time deposits) having a

maturity date less than 90 days after the date of deposit or payable upon written

notice of less than 90 days. (Sec. 9, 64 Stat. 881; 12 U.S.C. 1819.) [Interprets or

applies Sec. 18, 64 Stat. 891; 12 U.S.C. 1828.1

[F.R. Doc. 63-7725; Filed, July 19, 1963 ; 8:59 a m .; 28 F.R. 7423]

Pa r t 3 34 — Ba n k Se r v ic e A r r a n g e m e n t s

Sec.

334.1 Authority and scope.

3 3 4 . 2 Form of assurances.

334.3 Time for furnishing assurances.

334.4 Special situations.

12 The maximum rates of interest payable by insured nonmember banks on time and savings deposits

as prescribed herein are not applicable to any deposit which is payable only at an office of an insured

nonmember bank located outside of the States of the United States and the District of Columbia.

This limitation is not to be interpreted as preventing the compounding of interest at other than

quarterly intervals: Provided, That the aggregate amount of such interest so compounded does not exceed

the aggregate amount of interest at the rate above prescribed when compounded quarterly.

45

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

§ 334.1 Authority and .scope. This Part implements the provisions of section 5

of the Bank Service Corporation Act, Public Law 87-856, approved October 23,

1962 (76 Stat. 1132), in the application thereof to arrangements for the performance

of bank services for insured State nonmember banks. Under this section of the

Act, no insured State nonmember bank may cause to be performed, by contract

or otherwise, any bank services for itself, whether on or off its premises, unless

assurances satisfactory to the Board of Directors of the Federal Deposit Insurance

Corporation are furnished to the Board of Directors by both the bank and the

party performing such services that the performance thereof will be subject to

regulation and examination by the Board of Directors to the same extent as if

such services were being performed by the bank itself on its own premises. Such

assurances are required by the Act whether the bank services are performed by

bank service corporations in which the Act authorizes banks to invest, or by others.

Under section 1(b) of the Act, the term “bank services” means services such as

check and deposit sorting and posting, computation and posting of interest and

other credits and charges, preparation and mailing of checks, statements, notices,

and similar items, or other clerical, bookkeeping, accounting, statistical, or similar

functions performed for a bank.

§ 334.2 Form of assurances. Unless additional or different assurances are con*

sidered necessary by the Board of Directors in specific cases, the assurances referred to in section 334.1 of this Part may be submitted in the form of a letter

(or separate letters) signed by a duly authorized officer of the insured State nonmember bank and by the party (or a duly authorized officer or representative of

such party) that will perform the services for the bank, stating, in substance,

that the bank and the party performing such services have entered into an agreement that the performance of the services will be subject to regulation and examination by the Board of Directors to the same extent as if such services were

being performed by the bank itself on its own premises. All such letters of assurances shall be addressed to the Supervising Examiner of the Corporation for the

Federal Deposit Insurance Corporation District in which the insured State nonmember bank has its main office.

§ 334.3 Time for furnishing assurances. As to any arrangement for the performance

of bank services entered into or renewed after the effective date of this Part, assurances complying with section 334.2 shall be furnished prior to the performance

of any services for the bank under the bank service arrangement. With respect to

any bank service arrangement entered into prior to the effective date of this Part,

such assurances shall be furnished within 30 days after the effective date of this

Part, unless a letter of assurances covering such bank service arrangement has

been furnished previously pursuant to the Board of Directors’ “Statement for

State Nonmember Insured Banks on the ‘Bank Service Corporation Act’ ” issued

October 24, 1962.

§ 334.4 Special situations. Assurances complying with section 334.2 need not be

furnished in connection with arrangements for bank services which are immediately

necessary because of emergency conditions or situations, or are required for short

periods of time due to unusually heavy work demands, if the insured State nonmember bank promptly advises the Supervising Examiner of the Corporation of its

District of the circumstances involved and of the length of time during which any

of the bank’s books or records or any banking media will be removed from the

bank’s premises and of the location thereof, and unless the bank is advised by the

Supervising Examiner that such assurances must be furnished. Unless specifically

requested by the Board of Directors, assurances complying with section 334.2 need

not be furnished in connection with any arrangement by an insured State nonmember bank for the performance of legal, advisory, and administrative services.

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RULES AND REGULATIONS OF TH E CORPORATION 47

such as transportation or guard services. (Sec. 9. 64 Stat. 881; 12 USC 1819: 76

Stat. 1133; 12 USC 1865.)

[F.R. Doc. 63-3449; Filed, April 2, 1963; 8:47 a.m.; 28 F.R. 3201]

S t a t e B a n k i n g L e g i s l a t i o n

In 1963, the legislatures of forty-seven states held regular sessions. Ten of these

legislatures also held special sessions. Some of the more important state banking

legislation enacted in 1963 is summarized below.

SUPERVISORY AUTHORITY

Bank examination fees................................... Arizona (Ch. 98); Florida (Ch. 182, 254);

.....................................................................Hawaii (Act 43); Minnesota (Ch. 153, 204);

.....................................................................Missouri (H.B. 451); New Mexico (Ch. 110);

..................................................................................South Dakota (Ch. 22); Utah (Ch. 7)

Fees and charges of Division of Banking.................................................... Ohio (H.B. 947)

Reports to Superintendent of Banks........................................................ Arizona (Ch. 82)

Disclosure of information by Banking Department...................Michigan (P.A. 115)

Powers of Bank Commissioner............................................................ Minnesota (Ch. 153)

Salaries of Commissioner and employees..................................................................................

........................................................................... Missouri (H.B. 450); Nebraska (Ch. 503)

Bank Advisory Board...................................................................New Hampshire (Ch. 217)

Report of Superintendent of Banks.......................................................... Oregon (Ch. 195)

Record of branches............................................................................. Pennsylvania (Act 413)

Bank examiners.................................................................................................... Texas (Ch. 81)

Bank Commissioner and examiners...................................................................Utah (Ch. 7)

ORGANIZATION AND CHARTER CHANGE

Branch offices, agencies and facilities...................Alabama (H.B. 4-x, 107-xx, 30, 942,

................................................................................. S.B. 13-xx, 425); Arkansas (Act 544);

................................................................................. Georgia (Act 465); Idaho (Ch. 180);

................................................................................. Indiana (Ch. 350); Maine (Ch. 162);

.................................................................Montana (Ch. 39); New Hampshire (Ch. 188);

............................................................ New York (Ch. 644); North Carolina (Ch. 793);

.................................................................North Dakota (Ch. 96, 97); Oregon (Ch. 195);

.................................................................................................. Texas (Ch. 81); Utah (Ch. 7)

Organization and license fees............................... Arizona (Ch. 98); Florida (Ch. 181)

Capital and surplus requirements..................................................................................................

............................................Arizona (Ch. 82); Oregon (Ch. 195); Tennessee (Ch. 78)

Change of location................................... Georgia (Act 439, 440); New Jersey (Ch. 88)

Permit to commence business.................................................................Georgia (Act 416)

Par value of bank stock............................... Indiana (Ch. 6 ); Missouri (S.B. 201, 202)

Capital, surplus and par value of stock................................................Montana (Ch. 45)

Industrial bank capital......................................................................................Maine (Ch. 83)

Incorporation of banks and trust companies...................New Hampshire (Ch. 267);

...................................................... North Carolina (Ch. 793); North Dakota (Ch. 93);

..................................................South Dakota (Ch. 23); Texas (Ch. 81); Utah (Ch. 7)

Issuance of capital debentures.....................................................................Oregon (Ch. 195)

Bank conversions, consolidations, mergers and purchases of assets...............................

................................................................................. New York (Ch. 489); Ohio (H.B. 225)

Temporary change of location . . New York (Ch. 22)

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48 FEDERAL DEPOSIT INSURANCE CORPORATION

Trust company consolidations or mergers............................................Georgia (Act 422)

Savings bank mergers......................................................................................Maine (Ch. 162)

Bank mergers.................................................................................................. Vermont (Ch. 174)

Conversion of savings banks into banks or trust companies.......... Indiana (Ch. 240)

Articles of incorporation, consolidation, merger or conversion........................................

............................................................................................................... Pennsylvania (Act 413)

Capital, change of name, powers and merger of banks and trust companies...............

........................................................................................Connecticut (P.A. 74, 194, 251, 335)

Incorporation and charter amendments..............................................Wyoming (Ch. 160)

Federal Deposit Insurance membership___ Michigan (P.A. 134); Nebraska (Ch. 31)

GENERAL OPERATING PROVISIONS

Retention, preservation and destruction of bank records. .Connecticut (P.A. 315);

......................................................................... Missouri (H.B. 90); Pennsylvania (Act 33)

Borrowing by banks............................... Arizona (Ch. 82); West Virginia (Ch. 42, 130)

Borrowing by savings banks.....................................................................Delaware (H.B. 78)

Transfers of bank stock............................................................................. Arkansas (Act 519)

Receipts for bank stock certificates........................................................ Georgia (Act 438)

Banking hours and days............................................................................... Indiana (Ch. 363)

Bank service corporations and bank investments in and use thereof...........................

................................................................................. Colorado (Ch. 69); Florida (Ch. 113);

......................................................................................Idaho (Ch. 62); Indiana (Ch. 359);

......................................................................................Kansas (S.B. 351); Maine (Ch. 15);

.................................................................Minnesota (Ch. 140); Missouri (S.B. 196, 197);

.........................................................................North Dakota (Ch. 98); Oregon (Ch. 500);

.....................................................................South Dakota (Ch. 29); Tennessee (Ch. 66);

..........................................................................................Utah (Ch. 7 ); Vermont (Ch. 94);

.............................................................Washington (Ch. 194); West Virginia (Ch. 17);

........................................................................... Wisconsin (Ch. 168); Wyoming (Ch. 113)

Bank and trust company dividends.. .California (Ch. 714); Connecticut (P.A. 74);

.................................................................................................................Pennsylvania (Act 413)

Stockholders’ meetings............................................................................. New York (Ch. 161)

Stockholders’ lists............................... Indiana (Ch. 211); West Virginia (Ch. 41, 127)

Savings bank dividends............................................Maine (Ch. 162); Oregon (Ch. 409)

Distribution of cooperative bank profits................................... Massachusetts (Ch. 122)

Jointly held safe deposit boxes...................................................................Florida (Ch. 110)

Release of property subject to inheritance tax.....................................................................

.........................................................................Colorado (Ch. 281); Michigan (P.A. 100)

Bank sale of money orders............................................................................. Ohio (H.B. 225)

Uniform Commercial Code...........................California (Ch. 819); Indiana (Ch. 317);

............................................................................... Maine (Ch. 362); Maryland (Ch. 538);

................................................................................. Missouri (S.B. 2 ); Montana (Ch. 264);

.........................................................................Nebraska (Ch. 544); Tennessee (Ch. 81);

.................................................................West Virginia (Ch. 193); Wisconsin (Ch. 158)

Amendments to Uniform Commercial Code............................................Alaska (Ch. 11);

.....................................................................Connecticut (P.A. 526); Georgia (Act 158);

.............................................................Massachusetts (Ch. 188); New Jersey (A.B. 733);

..................................................................................New York (Ch. 1003); Ohio (S.B. 35);

.................................................................Oregon (Ch. 370, 402); Pennsylvania (Act 510)

Deposits of public funds.......................Florida (Ch. 112, 114, 341); Hawaii (Act 69);

........................................Idaho (Ch. 72, 100); Illinois (S.B. 475, 668, 680, H.B. 1662);

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STATE BANKING LEGISLATION 49

Deposits of public funds— continued

............................................................................... Indiana (Ch. 142); Louisiana (S.B. 30);

.....................................................................Minnesota (Ch. 511); Montana (Ch. 35, 40);

............................................................................... New York (Ch. 346); Ohio (H.B. 766);

............................................................................. Oklahoma (Ch. 223); Oregon (Ch. 507);

.................................................................................................................South Dakota (Ch. 25)

Deposits in trust in savings banks and departments.............. Connecticut (P.A. 417)

Deposits in other banks by savings banks and departments............................................

........................................................ Connecticut (P.A. 88); New Hampshire (Ch. 175)

Joint deposit accounts. .. Florida (Ch. 472); Maine (Ch. 328); Wyoming (Ch. 151)

Limits on amounts of savings deposits...........................Massachusetts (Ch. 253, 376)

Limits on ownership of cooperative bank shares...................Massachusetts (Ch. 255)

Deposits by minors........................................................................................Nebraska (Ch. 27)

Inducements for opening savings accounts........................................Nebraska (Ch. 280)

Interest on deposits............................................................................. Pennsylvania (Act 413)

Limit on time to question statements of accounts...................South Dakota (Ch. 28)

Verification of savings deposits...............................................................Vermont (Ch. 202)

LOANS

Loan limits and requirements.......................Arizona (Ch. 8 2); California (Ch. 824);

........................................................................... Colorado (Ch. 6 9); Michigan (P.A. 115);

.......................................................................Missouri (S.B. 194, 195); Oregon (Ch. 502);

...............................................................................................................South Dakota (Ch. 27)

Real estate mortgage loans............................... Idaho (Ch. 6 6 ); New Jersey (Ch. 95);

.................................................................New York (Ch. 389); North Dakota (Ch. 9 5);

......................................................................... Ohio (H.B. 225); Pennsylvania (Act 413);

......................................................................... Rhode Island (Ch. 124); Texas (Ch. 8 1);

......................................................................... Vermont (Ch. 75, 8 2 ); Wyoming (Ch. 89)

Interest rates on loans......................................Illinois (S.B. 808); Maryland (Ch. 871);

.....................................................................Nebraska (Ch. 272); West Virginia (Ch. 210)

Interest on instalment loans.............. Minnesota (Ch. 577); North Dakota (Ch. 125)

Loan restrictions and charges...............................................................Minnesota (Ch. 153)

Mortgage loans by savings banks and departments. . .Connecticut (P.A. 70, 94, 119)

Mortgage loans by banks and trust companies...........................Connecticut (P.A. 193)

Mortgages securing future advances........................................................ Florida (Ch. 212)

Savings bank home improvement loans......................................................................................

.............................................................Connecticut (P.A. 61, 111); New York (Ch. 792)

Home improvement loans...........................Illinois (S.B. 804); Pennsylvania (Act 464)

Nondepartmental bank real estate loan limits...............................California (Ch. 712)

Consumer instalment loans.......................Illinois (S.B. 809); Pennsylvania (Act 378)

Savings bank loans...........................................................................Maine (Ch. 84, 111, 162);

........................................................ Massachusetts (Ch. 268, 269, 272, 273, 301, 341, 353)

Cooperative bank loans...............Massachusetts (Ch. 91, 100, 101, 124, 126, 146, 279)

Cooperative bank, savings bank and trust company loans................................................

...................................................................................................... Massachusetts (Ch. 277, 325)

Savings bank loans on collateral security..................................... New Jersey (Ch. 104)

Loans secured by stock of other corporations....................................... Oregon (Ch. 195)

Guaranteed student loans............................... Louisiana (S.B. 6 1 ); Maryland (Ch. 589)

Student loans to minors............................................................................... Missouri (S.B. 58)

Student loans............................................New Jersey (Ch. 6 0 ); Rhode Island (Ch. 125)

Authorizing loans permissible for national banks...........................Maryland (Ch. 293)

Discount of commercial or business paper............................... Pennsylvania (Act 413)

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50 FEDERAL DEPOSIT INSURANCE CORPORATION

INVESTMENTS

Investment in corporations in international and foreign banking....................................

...............................................................California (Ch. 2036); Massachusetts (Ch. 143)

Investment in bank premises.....................................................................Georgia (Act 417)

Real and tangible personal property........................................................ Oregon (Ch. 502)

Stock of other corporations.........................................................................Oregon (Ch. 195)

Savings bank investments...............................................................................................................

........................................California (Ch. 476); Connecticut (P A . 65, 85, 86, 87, 140);

.................................................... Maine (Ch. 162); New Hampshire (Ch. 44, 144, 326);

.................................................... New Jersey (Ch. 83, 105); Oregon (Ch. 393, 407, 408);

...................................................................................................... Pennsylvania (Act 423, 425)

Savings bank investment in bankers’ acceptances.......................New York (Ch. 141)

Bank and trust company investment in bankers’ acceptances........................................

................................................................................................................. Connecticut (P.A. 308)

Legal investments for banks.......................Iowa (Ch. 166, 311); Minnesota (Ch. 153)

Authorizing investments permissible for national banks.............. Colorado (Ch. 69)

r ese r ve s

Reserve agents................................................................................................Arkansas (Act 154)

Reserve depositories and amount of reserves........................................Oregon (Ch. 195)

Savings bank reserves...................................................................New Hampshire (Ch. 326)

Reserve requirements........................................Arizona (Ch. 82); Minnesota (Ch. 153);

.........................................................................Missouri (S.B. 245, 246); Nevada (Ch. 90);

.................................................................New York (Ch. 144); Rhode Island (Ch. 126);

................................................................................. South Dakota (Ch. 26); Utah (Ch. 7);

...................................................................................................................Washington (Ch. 194)

Nonmember bank reserve requirements...................................................... Idaho (Ch. 71)

Commercial bank reserves...............................................................Massachusetts (Ch. 225)

TRUST ACTIVITIES

Investment of trust funds.................................................................Connecticut (P.A. 218);

...................................................... Indiana (Ch. 356, 398); North Dakota (Ch. 99, 100)

Guardianship investments by banks............................................................ Idaho (Ch. 303)

Trust powers and duties.........................................................................Minnesota (Ch. 153)

Common trust funds............................... Colorado (Ch. 278); Connecticut (P.A. 398);

.................................................................Illinois (H.B. 1292); Massachusetts (Ch. 392);

.....................................................................New Jersey (Ch. I l l ) ; New York (Ch. 301);

................................................................................. Ohio (S.B. 247); Oregon (Ch. 56, 305);

.............................................................Pennsylvania (Act 412); Rhode Island (Ch. 123);

......................................................................................Utah (Ch. 138); Vermont (Ch. 208)

Testamentary additions to trusts........................................................ Arkansas (Act 483);

.........................................................................Connecticut (P.A. 558); Idaho (Ch. 182);

.........................................................................Maine (Ch. 34); Massachusetts (Ch. 418);

.....................................................................Minnesota (Ch. 13); South Dakota (Ch. 440)

Foreign corporate fiduciaries...................Illinios (H.B. 1582); Pennsylvania (Act 70)

Transaction of trust business by national banks....................................Oregon (Ch. 55)

Savings bank acting as fiduciary............................................Pennsylvania (Act 424, 426)

Bond of bank serving as guardian.............................................................Nevada (Ch. 87)

Separate trust records and funds.... .................................................... Kansas (S.B. 350)

New probate code.................................................................................................. Iowa (Ch. 326)

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STATE BANKING LEGISLATION 51

Corporate fiduciary advertising concerning services of attorneys

.......................................................................................................................Maryland (Ch. 487)

Charitable contributions by certain fiduciaries.............................Delaware (H.B. 467)

Investing guardianship funds in time and savings deposits.............. Florida (Ch. Ill)

Mortgage funds............................................................................. ...Pennsylvania (Act 119)

Powers of fiduciaries................................................................................. Tennessee (Ch. 110)

Transfer of securities..........................................................................................Texas (Ch. 37)

Banks as trustees of trust deeds.....................................................................Utah (Ch. 110)

Uniform Principal and Income A ct.............................................................Idaho (Ch. 187)

CHECKS AND COLLECTIONS

Definitions of inland and foreign bills of exchange...........................Delaware (S.B. 85)

Payment of checks..........................................................................................Hawaii (Act 119)

Payment and return of checks.....................................................................Florida (Ch. 323)

Collection of negotiable instruments................................................New York (Ch. 487)

Bad check law................................................California (Ch. 1448); Kansas (S.B. 172);

............................................................................. Maryland (Ch. 497); Missouri (S.B. 66);

.....................................................................Nevada (Ch. 272); New Mexico (Ch. 315);

......................................................................... Oklahoma (Ch. 127); Tennessee (Ch. 238);

............................................................................. Texas (Ch. 268); West Virginia (Ch. 35)

Presentment of negotiable instruments by banks...........................Delaware (S.B. 84);

................................................................................. Florida (Ch. 109); Kansas (S.B. 352);

.....................................................................Maryland (Ch. 292); Minnesota (Ch. 301);

........................................................ New Hampshire (Ch. 191); Washington (Ch. 194)

DIRECTORS, TRUSTEES, OFFICERS AND EMPLOYEES

Number of directors and filling vacancies................................... Connecticut (P A . 35)

Loans to directors, officers and employees.......... Florida (Ch. 322); Idaho (Ch. 96);

......................................................................... Oregon (Ch. 502); Pennsylvania (Act 85)

Number of directors............................................................................. Pennsylvania (Act 87)

Number, qualifications and duties of directors............................... Wyoming (Ch. 161)

Qualifications of trust company directors................................................Maine (Ch. 404)

Election or appointment of officers................................................South Dakota (Ch. 24)

Resignation of officers................................................................................... Oregon (Ch. 195)

School board member serving bank where school funds are deposited...........................

......................................................................................................................... Michigan (P.A. 31)

Stock options and profit-sharing.....................New York (Ch. 885); Ohio (S.B. 233);

...................................................................................................................Pennsylvania (Act 88)

Savings bank employees benefit plans................................................New York (Ch. 88)

Directors’ examinations....................................................................................Ohio (H.B. 225)

Directors’ meetings and minutes........................................................ Oregon (Ch. 166, 195)

MISCELLANEOUS

Comprehensive revision of banking laws.................................................................................

.........................................................................Nebraska (Ch. 29); New Mexico (Ch. 305)

Comprehensive revision of savings bank laws...........................Washington (Ch. 176)

Taxation of banks............................................California (Ch. 1428); Kansas (S.B. 437);

...................................................................................................................Washington (Ch. 136)

Franchise tax..............................................................................................New York (Ch. 118)

Savings bank life insurance............................................Connecticut (P A . 489, S A . 214)

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

Bank holding companies.....................Nebraska (Ch. 26); New Hampshire (Ch. 188);

............................................................................. New York (Ch. 21); Oklahoma (Ch. 17)

Affiliation with securities companies................................................New York (Ch. 286)

Branches of foreign banking corporations................................... New York (Ch. 24, 98)

Unclaimed property................................... Connecticut (P A . 580); Illinois (S.B. 904)

Foreign bank doing banking or trust business in state...............Maryland (Ch. 580)

Attachment and execution against sums due from banks....................................................

.................................................................................................... Connecticut (P.A. 580, 1080)

False statements to obtain credit........................................................Minnesota (Ch. 536)

Discrimination between state and national banks....................................Texas (Ch. 81)

Powers of private banks.....................................................................Pennsylvania (Act 413)

Encroachment on powers of banks.................................................... New York (Ch. 687)

Business development corporations.............. Iowa (Ch. 290); Michigan (P.A. 117);

.....................................................................Missouri (S.B. 224); Pennsylvania (Act 404);

...................................................................................................................Washington (Ch. 162)

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Federal Reserve Bank of St. Louis
PART FOUR

BANKING DEVELOPMENTS

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Federal Reserve Bank of St. Louis
Su perviso ry Statu s of B a n k s

Banks operating in the United States are subject to supervision by 

State banking authorities, Federal bank supervisory agencies, and, in 

some cases, by both. Under existing Federal law all banks of deposit in 

the United States are required to be subjected to examination and regulation under the laws of the United States, or subjected to examination 

and regulation (or to submit to such examination and to publication of 

reports of condition) by the banking authority of the State, Territory, 

or District in which the bank is located.1

Table 24. C l a s sific a tio n of B a n k s A ccording to Su p e r v is o r y St a t u s an d

F e d e r a l D e p o s it I n su r a n c e P a r t ic ip a t io n , D e c e m b e r 31, 1963

Supervisory status

All banks

Commercial banks 

and trust 

companies 1

Mutual

savings

banks

Total Insured Noninsured Insured Noninsured Insured Noninsured

Number of banks and trust

companies—total........ 14,092 13,621 471 13,291 291 330 180

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

Examined by and reporting to: 2 

Comptroller of the

Currency 3 ...................

14,043

4,622

13,621

4,622

422 13,291

4,622

1,488

7,181

242 330 180

State authorities and 

Federal Reserve 

banks 4 ......................... 1,488 1,488

State authorities and 

Federal Deposit Insurance Corporation 5. 

State authorities only 6. .

Trust companies not

regularly engaged in

deposit banking 7........

7,511 7,511 330

422 422 422 180

49 49 49

Percentage insured and

noninsured:

All banks and trust companies ..............................

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

Trust companies not regularly engaged in deposit 

banking...........................

1 0 0 .0 %

1 0 0 . 0

1 0 0 . 0

96.7%

97.0

3.3%

3.0

1 0 0 . 0

97.9%

98.2

2 . 1 %

1 . 8

1 0 0 . 0

64.7%

64.7

35.3%

35.3

1 Includes stock savings banks.

2 Classification relates to regular examination and periodic submission of reports of condition (assets 

and liabilities).

3 Includes all national banks and 7 nonnational banks in the District of Columbia; of the latter, 4 

are members of the Federal Reserve System.

4 Includes all State banks that are members of the Federal Reserve System except 4 commercial 

banks in the District of Columbia and 1 noninsured trust company.

5 Includes all insured banks not members of the Federal Reserve System except 3 in the District 

of Columbia.

6 Includes 17 branches of foreign banks located in 3 States, Puerto Rico and the Virgin Islands. 

Financial statements from 13 branches of foreign banks are not available to the Federal Deposit Insurance 

Corporation. Also includes 75 unincorporated banks located in 7 States. Unincorporated banks in 3 of 

these States (Georgia, Iowa, and Texas) are not examined by the State authorities, and do not submit 

detailed periodic condition reports to the State authorities. Financial statements of 4 unincorporated 

banks were not available to the Corporation at the close of 1963.

7 Subject to supervision by State authorities only, except for 1 which is a member of the Federal 

Reserve System but not insured by the Corporation. Excludes institutions chartered under banking or 

trust company laws, but operating as investment or title insurance companies and not engaged in deposit 

banking nor fiduciary activities.

1 United States Code, Title 12, Section 378.

55

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

Each State has its own statutes pertaining to the chartering, supervision, and operations of State banks. Federal laws contain similar provisions applicable to national banks. State banks are also subject to 

Federal supervision if they are members of the Federal Reserve System 

or participate in Federal deposit insurance.

Table 25. A ssets of B a n k s C l a ssifie d A ccording to Su p e r v is o r y Sta t u s

an d F e d e r a l D e p o s it I n su r a n c e P a r t ic ip a t io n , D e c e m b e r 20, 1963

Supervisory status 1

All banks

Commercial banks 

and trust 

companies

Mutual

savings

banks

Total Insured Noninsured Insured Noninsured Insured Noninsured

Assets of banks and

trust companies (in

millions)—total...........

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

Examined by and reporting to:

Comptroller of the

Currency.....................

$363,678

363,408

171,183

90,502

93,125

8,598

270

1 0 0 .0 %

1 0 0 . 0

1 0 0 . 0

$354,810

354,810

171,183

90,502

93,125

$ 8,868

8,598

$311,791

311,791

171,183

90,502

50,106

$ 2,265

1,995

$43,019

43,019

$ 6,603

6,603

State authorities and 

Federal Reserve banks. 

State authorities and 

Federal Deposit Insurance Corporation. . 

State authorities only. . .

Trust companies not

regularly engaged in

deposit banking..........

8,598

270

2.4%

2.4

1 0 0 . 0

1,995

270

0.7%

0 . 6

1 0 0 . 0

43,019

6,603

Percentage in insured and

noninsured banks:

All banks and trust comBanks of deposit................

Trust companies not regularly engaged in deposit 

banking .........................

97.6%

97.6

99.3%

99.4

86.7%

86.7

13.3%

13.3

1 See notes to Table 24.

Note: Due to rounding, components may not add to total.

Number of banks classified by supervisory status. Approximately 

one-third of the 14,092 banks and trust companies operating in the 

United States at the close of 1963 are examined by and report to the 

Comptroller of the Currency. These consist of the 4,615 national banks 

operating in the United States, and 7 nonnational banks located in the 

District of Columbia.

Of the 9,470 banks subject to State regulation, 1,488 banks of deposit 

and 1 nondeposit trust company are members of the Federal Reserve 

System. These institutions are also examined by, and submit reports to, 

the Federal Reserve Bank of the district in which they are located. 

More than one-half of the banks in the United States are State banks 

not members of the Federal Reserve System which participate in Federal 

deposit insurance. These 7,511 banks of deposit are examined by and

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SUPERVISORY STATUS OF BANKS 57

submit reports to the Federal Deposit Insurance Corporation. The 

remaining institutions, which are required by Federal law to submit to 

examination by State authorities, consist of 422 banks of deposit and 

48 trust companies not regularly engaged in deposit banking.

Table 24 shows the banks operating December 31, 1963, classified by 

supervisory status and by participation in Federal deposit insurance.

Assets, deposits, and capital of banks classified according to

supervisory status. Assets of all banks in the United States classified 

according to supervisory status and participation in Federal deposit 

insurance, as of December 20, 1963, are shown in Table 25.1 Slightly 

less than one-half the total assets were held by banks reporting to the 

Comptroller of the Currency. State banks which were members of the 

Federal Reserve System held about one-fourth of the assets; and banks 

participating in Federal deposit insurance but which were not members 

of the Federal Reserve System held about an equal share. Noninsured 

banks held about two and one-half percent of the assets of all banks.

Table 26 shows the deposits of all banks classified according to supervisory status and participation in Federal deposit insurance, December

Table 26. D epo sits of B a n k s C la s sifie d A ccording to S u p e r v is o r y Sta t u s

an d F e d e r a l D e p o s it I n su r a n c e P a r t ic ip a t io n , D e c e m b e r 20, 1963

Supervisory status 1

All banks

Total Insured ^ Noninsured

Commercial banks 

and trust 

companies

Insured Noninsured

Mutual

savings

banks

Insured Noninsured

Deposits of banks and

trust companies (in

millions)— total...........

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

Examined by and reporting to:

Comptroller of the

Currency.....................

State authorities and 

Federal Reserve banks 

State authorities and 

Federal Deposit Insurance Corporation. . 

State authorities only. . .

Trust companies not

regularly engaged in

deposit banking..........

Percentage in insured and

noninsured banks:

All banks and trust companies ..............................

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

Trust companies not regularly engaged in deposit 

banking...........................

$320,746

320,646

151,686 

77,898

83,720

7,342

$313,304

313,304

151,686

77,898

83,720

100

100.0%

100.0

100.0

97.7%

97.7

$7,442

7,342

7,342

100

2.3%:

2.3

100.0

$274,647

274,647

151,686

77,898

45,063

99.4%

99.5

$1,583

1,483

$38,657

38,657

1,483

100

0 .6%

0.5

100.0

38,657

86.8

$5,859

5,859

5,859

13.2%

13.2

1 See notes to Table 24.

Note: Due to rounding, components may not add to total.

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

20, 1963.1 The proportion of deposits held by banks reporting to the 

various supervisory agencies differed only slightly from the distribution 

of assets among banks in the same categories.

Capital ratios. The ratio of total capital accounts to assets (after 

deduction of valuation reserves) of banks of deposit on December 20, 

1963, was 8.2 percent. On December 28, 1962, the ratio was 8.1 percent. 

In Table 27 capital ratios for banks of deposit, classified according to 

supervisory status and participation in Federal deposit insurance on 

December 20, 1963, are shown.

Table 27. R atio s of C a p it a l A ccounts to A ssets of B a n k s of D e po sit

C l a ssifie d A ccording to S u p e r v is o r y Sta t u s a n d F e d e r a l D e p o s it

I n su r a n c e P a r t ic ip a t io n , D e c e m b e r 20, 1963

Supervisory status 1

All banks

Commercial banks 

and trust 

companies

Mutual

savings

banks

Total Insured Noninsured Insured Noninsured Insured ^ Noninsured

All banks of deposit...........

Examined by and reporting to:

Comptroller of the

Currency.....................

8 .2 %

8 . 0

8 . 2

8.4

10.7

8 .1%

8 . 0

8 . 2

8.4

10.7% 8 .1%

8 . 0

8 . 2

8.5

14.5% 8.3% 9.6%

State authorities and 

Federal Reserve banks. 

State authorities and 

Federal Deposit Insurance Corporation. . 

State authorities only. . .

8.3

10.7 14.5 9.6

1 See notes to Table 24.

C h a n g e s i n N u m b e r o f B a n k in g O f f ic e s , a n d i n B a n k A s s e t s

a n d L ia b il it ie s

Changes in number of banks and branches. On December 31, 1963, 

there were 28,369 banking offices in operation in the United States. The 

increase of 1,340 offices during 1963 was 30 percent greater than the gain 

in the preceding year and 50 percent above that in 1961.

In 1963 the number of banks increased for the first time since 1947. 

As shown in Table 28, there wrere 300 new banks opened during the year, 

while 159 ceased operations. Most of the banks ceasing operations were 

absorbed by other banks and continued to serve the public as branches 

of the absorbing banks. The net change in the number of branches during 

1963 was 1,199, a larger increase than in any previous year.

1 Data for 17 noninsured banks of deposit were unavailable. For some noninsured banks the data 

are as of December 31, 1963.

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Federal Reserve Bank of St. Louis
BANKING OFFICES, AND BANK ASSETS AND LIABILITIES 5 9

Amounts and distribution of bank assets and liabilities.1 Total 

assets of all banks in the United States amounted to $363,678 million 

on December 20, 1963. This was 5.6 percent greater than on December 

28, 1962, and 12.8 percent higher than at the date of the year-end call 

in 1961. The share of total assets held by banks participating in Federal deposit insurance remained at 97.6 percent in 1963, the same as in 

the preceding year, and up slightly from 97.5 percent in 1961. The proportion of total assets held by mutual savings banks continued to grow. 

These banks held 13.3 percent in 1961, 13.4 percent in 1962, and 13.6 

percent in 1963.

Table 29 shows amounts and percentage distributions of assets and 

liabilities of all banks at year-end call dates 1961-1963. During 1963, 

both cash and funds due from banks and United States Government 

obligations continued to decline in relation to total assets, while other 

securities (principally obligations of states and their political subdivisions) and total loans were increasing. The composition of the 

aggregate loan portfolio changed irregularly, with trends for two years 

apparent only in a declining proportion of commercial and industrial 

loans and increases in the percentage of loans to financial institutions. 

Among the classes of deposits, the decline in the proportion consisting 

of demand deposits of business firms and individuals has been approximately balanced by the increase in their time and savings deposits.

Percentage changes in assets and liabilities during 1962 and

1963. Percentage changes in the major categories of assets and liabilities of all banks in the United States between year-end call dates 

in 1961, 1962, and 1963 are shown in Table 30. Total assets increased 

5.6 percent in 1963, compared with an increase of 6.8 percent in 1962. 

The slower rate of growth in 1963 reflects the fact that holdings of securities other than obligations of the United States Government and 

loans both increased less rapidly than in the preceding year, while 

holdings of both cash and funds due from banks and United States 

Government securities decreased more rapidly during 1963 than in

1962. Loans increased only slightly less rapidly in 1963 than in 1962, 

with all classes of loans showing increases in both years. Rates of change 

varied considerably for the various categories of deposits, with demand 

deposits of business firms and individuals being the only one to show 

a net decline over the two-year period.

G r o w t h in B a n k D e p o s it s f r o m J u n e 30, 1961 t o J u n e 29, 1963

From June 30, 1961, to June 30, 1962, deposits in all banks in the 

United States increased by 8.6 percent ; from June 30, 1962, to June 29,

1 Call dates for all banks participating in Federal deposit insurance were December 28, 1962, and 

December 20, 1963. Figures for some noninsured banks are as of December 31. In 1961 the call date 

was December 30.

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T ab le 28. A n alysis of C hanges in N u m ber of B anks and B ranches in the U nited States (States and Other A reas), D uring the Y ears g

1961, 1962 a n d 19631

Type of office and change

1963 1962 1961

All

banks

Commercial 

banks and 

trust 

companies

Mutual

savings

banks

All

banks

Commercial 

banks and 

trust 

companies

Mutual

savings

banks

, A1! banks

Commercial 

banks and 

trust 

companies

Mutual

savings

banks

ALL BANKING OFFICES

Number, December 31.................................................. 28,369 27,234 1,135 27,029 25,930 1,099 26,002 24,943 1,059

Net change during year........................................ + 1,340 + 1,304 +36 + 1,027 +987 + 40 +897 +840 + 57

BANKS

Number, December 31.................................................. 14,092 13,582 510 13,951 13,439 512 13,959 13,444 515

Net change during year........................................ + 141 + 143 - 2 - 8 - 5 - 3 -4 0 -4 0

Banks beginning operations ........................... 300 300 181 181 1 1 0 109 1

New banks opened ............................................... 300 300 179 179 109 108 ......... 1

Suspended banks reopened................................... 2 2 1 1

Banks ceasing operations.......................................... 159 157 2 191 188 3 154 153 1

Absorbed................................................................. 154 152 2 183 180 3 138 137 1

Suspended............................................................... 2 2 3 3 9 9

Other liquidations2 . . 3 3 5 5 7 7

Other or unclassified changes—net.......................... + 2 + 2 + 4 + 4

BRANCHES *

Number, December 31.................................................. 14,277 13,652 625 13,078 12,491 587 12,043 11,499 544

Net change during year........................................ + 1,199 + 1,161 + 38 + 1,035 +992 + 43 + 937 +880 + 57

Branches beginning operations................................. 1,253 1,214 39 1,067 1 , 0 2 0 47 985 926 59

Succeeded absorbed banks.................................... 145 143 2 169 166 3 126 125 1

Other new branches............................................... 1,108 1,071 37 898 854 44 859 801 58

Branches discontinued............................................... 54 53 1 51 47 4 61 59 2

Other or unclassified changes—net.......................... + 19 + 19 + 13 + 13

1 Excludes changes not affecting number of banks or branches of commercial banks and trust companies or of mutual savings banks.

2 Includes 1 bank in 1961, 1 in 1962 and 1 in 1963 which ceased banking operations but now engage in other business.

3 Includes facilities established in or near military or other Federal Government installations at request of the Treasury Department or the Commanding Officer of the installation.

Back data: Annual Report for I960, p. 33. Detailed data (including changes referred to in note 1): Table 102, pp. 116-117.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 29. A m o u n ts a n d P e r c e n t a g e s of M ajo r C a te go ries of A ssets an d L ia b il it ie s of A ll B a n k s in th e U n it e d Sta t e s (States and Ot h e r

A r e a s), a t Y e a r -E nd C a l l D a t e s, 1961-19631

A s se t o r lia b ility ite m

A m o u n t (in m illion s) P e rce n ta g e d istrib u tion

1963 1962 1961 1963 1962 1961

Assets—total................................................ $ 3 6 3 ,6 7 8 $344. 2R2 i nn (\oy i Art nor 1AA f\CTf

C a sh a n d fu n d s d u e fr o m b a n k s ............................................................ 51*677

6 9 ,2 2 3

4 0 ,5 7 9

1 9 3 ,4 4 2

8 ,7 5 6

5 5 ,0 7 0 

7 2 ,6 8 2 

35 063

1, JOS)

5 7 ,4 8 7 

72 822

JLUlr. U /o

14 2

1UU. \3 /o

16 0

1UU .0 %

1 7 Q

U . S. G o v e r n m e n t o b lig a tio n s .............................................................. 1 q n 21 ! i

10 9

i / . y

99 fi

O th er s e c u r itie s ............................................................. 29 719

i y . u 

9

z z . 0

Q 9

L o a n s a n d d iscou n ts 2.............................................................................. 1 73 ]4 76 

7 991

154 843

1 jl . z

KO O

1U . Z

A

y . z

y4 Q A

O th er a s s e ts ........................................... 7 466

Oo . Z

9 A

OU. 4 

9 Q

4 o «U

Z . 4 Z . O z 9 Q.0

Liabilities and capital accounts—total................................ 3 6 3 ,6 7 8

3 2 0 ,7 4 6

1 2 ,9 6 9

2 9 ,9 6 3

196,683

5 3 ,4 2 6 

7 ,4 9 0 

7 ,9 0 5 

7 5 ,4 6 3

344,282

3 0 4 ,5 9 1

3 2 2 ,3 3 6 

287 991

100.0

RS 9

1 0 0 .0 1 AA A

D e p o s its — t o t a l ................................... lu ll. U

CQ A

O th er lia b ilitie s ............................................................. 11 571 8 049

OO . Z

Q ft 0 0 . 0 o y . 4

9 pi

C a p ita l a cco u n ts — t o t a l .............................................................................. 28]120

176,407

26 296

O . O

e 9

O , □ 

Q 9

z . O

Q -I

Loans— gross total 3....................................... 157 689

0 . z

ia a A

O. Z

in n rt

O , I

1 AA A

C o m m e rc ia l a n d in d u s tr ia l........................................................................ 4 9 ’ 148 

7 ,1 1 2 

7 346

45 538

1UU . u

97 1

1UU. u

97 Q

1UU . U

9Q G

A g ricu ltu ra l (e x c e p t rea l e s t a t e )............................................ 6 ’ 263

Z 4 . 1

Q ft Zi . a

A n

Z o . y

4 A

F o r ca rr y in g s e c u r it ie s ....................................................................... f i '910 0 . 0

a n

4 . U 

A 9

4 . u

0 n

R e a l e sta te lo a n s ....................................................... 66 747

4 .u

QQ A

4 . Z

Q7 Q 0 .y

O th er loa n s to in d iv id u a ls .................................................................... 3 5 ’,196 

1 3 ,1 3 3 

4 069

31 033

, OOf 

9ft 977

00 . i:

1 7 Q

0 4 .0

1 7 A

3 7 .8

T o fin an cia l in s titu tio n s ...................................................................... 1 1 ]0 8 5

O , &! 4

ft *374.

1 / . y

fi 7

JL/ .0 

fi Q

1 7 .9

rr 0

A ll o t h e r ............................................................................ 3 935

O , O 1 rt O . /

2.1

D . a 

9 9

O . 0 

0 , ^toO 0 0 z . 1

Deposits—total................................................................................................... 320 74,6 304 591 9ft7 OOl in n a 1AA A

B u sin ess a n d person a l d e p o sits:

D e m a n d 4 .............................................................................

0^1/ 3 4 TtU

12Q 083 19a 1 9A.Q

lull . U

A(\ 9

JLUU.U

>19 Q

1 0 0 .0

T im e a n d s a v in g s ........................................................................................

JL *!7 , UOO

1 4 4 ,5 1 8

2 0 ,3 4 3 

7 ,0 3 1 

1 9 ,7 7 0

1*0 , 000 

130 194

XoU, ZQtf

115 218

. 0 4 5 .2

AC\ A

G o v e r n m e n t d e p o sits:

S tates a n d s u b d iv is io n s ........................................................................... 1 8 ,6 7 2 

7 125

17 843

40 . I

fi Q

42 8

6.1

9 Q

4U . U

fi 9

U n ite d S ta te s ................................................................................................ fl ’ 9

D . O

9 9

0 . z

0 0

In te rb a n k d e p o sits 6 .................................................................................. 1 9 ' 762 1 ft 4.97

z . z

A 9

Z . O

fi ft

Z . Z

lO , 1 0 . z 0 . D O .4

1 December 30, 1961, December 28, 1962, December 20, 1963.

2 Net of valuation reserves.

8 Including valuation reserves.

4 Includes certified checks, letters of credit, etc.

* Includes postal savings deposits.

Note: Due to rounding, components may not add to total.

OGROWTH IN BANK DEPOSITS FROM JUNE 30, 1961 TO JUNE 29, 1963

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62 FEDERAL DEPOSIT INSURANCE CORPORATION

1963, the rate of increase was 8.5 percent. These gains were distributed 

quite unevenly among the banks, with deposits in many banks increasing at a rate much above the average, while a number of banks experienced declines in deposits.

Tabulations have been prepared showing for each of these periods 

the number of banks gaining or losing deposits at specified rates. Information regarding changes in deposits is provided by class, type, size, 

and location of banks. In addition, tables are included in which the 

banks are distributed by the proportion of demand to total deposits, 

and by the percentage change in loans.

Figures for deposits and loans include the main office and branches 

other than those located in foreign countries. Expansion by opening 

new branches was regarded as part of the normal process of growth. 

However, in the cases of banks which absorbed one or more banks during 

either of the two 12-month periods, adjustments were made to eliminate 

from the deposits and loans at the close of the period the amounts 

acquired at the time of each absorption transaction.

T ab le 30. Percentage C hanges in M ajor C ategories of A ssets and

Liabilities of A ll B an ks in the U nited States (States and Other

A reas), Year-end Call Dates 1961-1962, 1962-1963, and 1961-1963

Asset or liability item

Percentage change

1961-1963 1962-1963 1961-1962

Assets—total............................................................................. 1 2 . 8 % 5.6% 6 . 8 %

Cash and funds due from banks........................................... - 1 0 . 1 - 6 . 2 -4 .2

U. S. Government obligations............................................... -4 .9 - 4 .8 - 0 . 2

Other securities....................................................................... 36.5 15.7 18.0

Loans and discounts 1 ............................................................. 24.9 11.5 1 2 . 0

Other assets............................................................................. 17.3 9.6 7.0

Loans—gross total2................................................................ 24.7 11.5 11.9

Commercial and industrial.................................................... 17.3 8.7 7.9

Agricultural (except real estate)........................................... 19.6 5.3 13.6

For carrying securities........................................................... 27.2 7.6 18.2

Real estate loans.................................................................... 26.6 13.1 1 2 . 0

Other loans to individuals...................................................... 24.5 13.4 9.7

To financial institutions......................................................... 56.8 18.5 32.4

18.4 3.4 14.5

Deposits—-total.................... ................................................... 11.4 5.3 5.8

Business and personal deposits:

Demand *............................................................................. -0 .9 0 . 2 - 1 . 1

Time and savings................................................................ 25.4 1 1 . 0 13.0

Government deposits:

States and subdivisions...................................................... 14.0 8.9 4.6

United States...................................................................... 12.4 -1 .3 13.9

Interbank deposits 4 ................................................................ 7.3 (5) 7.2

Capital accounts—total........................................................ 13.9 6 . 6 6.9

1 Net of valuation reserves.

2 Including valuation reserves.

* Includes certified checks, letters of credit, etc.

4 Includes postal savings deposits.

5 Change less than .05 percent.

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Federal Reserve Bank of St. Louis
GROWTH IN BANK DEPOSITS FROM JUNE 30, 1961 TO JUN E 29, 1963 63

Changes in deposits 1961-62 and 1962-63. Of the 13,578 banks 

operating throughout both 12-month periods, 80 percent gained deposits 

in both periods. Banks having deposit increases in 1961-62 but decreases 

in 1962-63 were 8.5 percent of the total, while 10 percent had decreases 

in 1961-62 but increases in 1962-63. Banks which experienced deposit 

losses in both periods were 1.5 percent of the total.

Table 31 shows the rates at which deposits increased or decreased in 

the same banks during the two 12-month periods. While the majority 

of banks had gains in both periods, the rates of increase varied greatly 

for individual banks. For example: 327 banks had gains of less than 4 

percent in both periods, but 152 banks with increases of less than 4 

percent in 1961-62 had additions to deposits of 20 percent or more in 

1962-63. There were 389 banks with rates of growth of 20 percent or 

more in both periods, while 127 banks which expanded by 20 percent 

or more in 1961-62 gained less than 4 percent in 1962-63. Some banks 

experienced large gains in one period and losses of about the same 

magnitude in the other. There were 9 banks with deposit decreases of 

20 percent or more in 1961-62 and gains of 20 percent or more in 1962- 

63, while 14 banks had gains in 1961-62 and declines in 1962-63 of 20 

percent or more in each period. About one-third of the banks having 

decreases in both periods had losses of less than 4 percent in each 

period.

The distribution of banks by type and insurance status presented in 

Table 32, shows that, of the insured commercial banks, in both 1961-62 

and 1962-63 a greater proportion of the State banks not members of 

the Federal Reserve System which had gains in deposits had increases 

of 20 percent or more than was true for either of the other classes. The 

insured nonmember banks were also the class with the greatest proportion of its numbers suffering reduction in total deposits. Noninsured 

banks exceeded all classes of insured banks in the proportion with gains 

of 20 percent or more and in those with declines in deposits. Mutual 

savings banks, as would be expected, exhibited more stability in their 

deposits.

In Table 33 commercial banks are grouped by amount of deposits. 

In both periods the percentage of banks in which deposits increased 

was lowest in banks having deposits of less than $1 million, and rose 

somewhat irregularly with the size of bank. However, of the banks with 

increases in deposits, those in the size group of $1 million or less had a 

larger proportion of banks gaining 20 percent or more than was true for 

any other size group. Nine-tenths of the banks in which deposits declined by 8 percent or more had deposits of less than $10 million.

Distributions of mutual savings banks by size of bank are shown in 

Table 34. Most of these banks had deposit gains in both periods, with 

none having losses as great as 8 percent. Seven-eighths of the banks 

in which deposits increased had gains of less than 12 percent.

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Federal Reserve Bank of St. Louis
T ab le 31. N um ber of B a n k s in the U nited States (States and Other A r eas), Operating T hroughout the Period F rom June 30, 1961, to ^

Ju ne 29, 1963, D istributed by Percentage C hanges in T otal D eposits1

Period and percent of change Total

Banks with deposit increases in 1961-62 Banks with deposit decreases in 1961-62

20.0%

or

more

16.0

to

19.9%

12.0

to

15.9%

8.0

to

11.9%

4.0

to

7.9%

Less

than

4.0%

Total Less

than

4.0%

4.0

to

7.9%

8.0

to

11.9%

12.0

to

15.9%

16.0

to

19.9%

20.0%

or

more

June 30, 1962, to June 29, 1963

Banks with deposit increases—total. . . 10,858 1,111 807 1,566 2,532 2,974 1,868 1,362 819 325 113 57 30 18

20.0% or more........................................... 1,222 389 126 177 190 188 152 193 95 38 26 14 1 1 9

16.0 to 19.9%............................................ 983 122 92 171 237 226 135 105 65 25 7 6 1 1 12.0 to 15.9%............................................ 1,762 153 137 264 464 460 284 218 134 59 15 6 3 1

8.0 to 11.9%.............................................. 2,699 156 184 381 703 814 461 315 197 70 29 1 0 6 3

4.0 to 7.9% ................................................ 2,646 164 157 363 609 844 509 324 198 85 23 1 1 4 3

Less than 4.0% ......................................... 1,546 127 1 1 1 2 1 0 329 442 327 207 130 48 13 1 0 5 1

Banks with deposit decreases—total. . . 1,155 224 115 186 214 248 168 203 121 45 20 9 4 4

Less than 4.0% ......................................... 674 91 65 109 134 165 1 1 0 1 1 0 70 28 11 1

4.0 to 7.9% ................................................ 273 41 30 46 64 57 35 48 32 7 5 2 1 1 8.0 to 11.9%.............................................. 1 1 2 41 13 2 0 6 18 14 28 15 0 2 3 o

12.0 to 15.9%............................................ 47 26 4 6 3 4 4 9 3 2 2 1 i

16.0 to 19.9%............................................ 26 1 1 2 2 6 3 2 3 1 1

X i

1

20% or more............................................. 23 14 1 3 1 1 3 5 1 2 1 1

i r\r*r^ Total nu“ ker of banks differs from those in Tables 32, 35, and 36 because this table includes only those operating throughout both 12-month periods. June 30, 1961 to June 30 

1962, and June 30, 19b2 to June 29, 1963.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 32. N u m b e r of B a n k s in t h e U n ite d Sta t e s (Sta t e s an d Ot h e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h a n g e in T o t a l D epo sits F rom

J u n e 30, 1961, to J une 30, 1962, an d F ro m J un e 30, 1962, to J u n e 29, 1963

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

Period and percent of change

All banks

Commercial and stock savings banks and nondeposit trust 

companies Mutual savings banks

Total Insured

Noninsured Total

Insured Noninsured

Total Insured

Noninsured

Total

1 Members of 

F. R. System Not

members

Banks

of

deposit

Nondeposit

trust

comNational State panies

June 30, 1961, to June 30, 1962

Banks with deposit increases— to ta l.................... 12,163 11,803 360 1 1 , 6 6 6 11,485 3,943 1,440 6 , 1 0 2 167 14 497 318 179

2 0 ,0 % or more........................................................... 1,350 1,304 46 1,342 1,300 324 92 884 35 7 8 4 4

16.0 to 19.9%............................................................. 932 917 15 925 912 274 123 515 13 7 5 O

12.0 to 15.9%............................................................. 1,767 1,734 33 1 725 1,702 546 203 953 23 42 32

Zi

i n

8.0 to 11.9%............................................................. 2,778 2,714 64 2,664 2 ,’637 923 338 1,376 25 2 114 77

1U

37 4.0 to 7.9% ............................................................... 3,268 3,159 109 3,041 3,006 1,125 413 1,468 33 2 227 153 74 Less than 4.0% .......................................................... 2,068 1,975 93 1,969 1,928 751 271 906 38 3 99 47 52

Banks with deposit decreases—-to ta l................... 1,577 1,499 78 1,567 1,492 523 148 821 63 1 2 1 0 7 3

Less than 4 % ............................................................. 944 914 30 937 909 333 98 478 24 4 7 5 2

4.0 to 7.9% ............................................................... 374 357 17 371 355 115 30 2 1 0 14 2 3 2 1

8.0 to 11.9%............................................................ 135 131 4 135 131 44 13 74 4

12.0 to 15.9%............................................................. 6 6 57 9 6 6 57 17 4 36 7 2

16.0 to 19.9%............................................................. 36 30 6 36 30 1 2 1 17 Q

2 0 .0 % or more........................................................... 2 2 1 0 1 2 2 2 1 0 2 2 6 8

4

June 30, 1962, to June 29, 1963

Banks with deposit increases— to ta l................... 12,362 11,991 371 11,854 11,662 4,015 1,413 6,234 181 1 1 508 329 179

2 0 .0 % or more........................................................... 1,519 1,457 62 1,511 1,453 389 129 935 52 6 8 4 4 16.0 to 19.9%............................................................. 1,095 1,080 15 1,085 1,072 345 124 603 1 2 1 1 0 8 2

12.0 to 15.9%............................................................. 1,986 1,959 27 1,937 1,919 685 219 1,015 17 1 49 40 9 8.0 to 11.9%............................................................. 3,018 2,942 76 2,853 2,821 983 405 1,433 31 1 165 1 2 1 44 4.0 to 7.9%............................................................... 2,982 2,859 123 2,756 2,724 1,015 343 1,366 30 2 226 135 91 Less than 4.0% .......................................................... 1,762 1,694 6 8 1,712 1,673 598 193 882 39 50 2 1 29

Banks with deposit decreases—‘tota l.................... 1,360 1,284 76 1,356 1,282 405 125 752 61 13 4 2 2

Less than 4.0% .......................................................... 785 760 25 782 759 256 69 434 18 5 3 1 2

4.0 to 7.9%............................................................... 320 303 17 319 302 8 8 34 180 16 1 1

8.0 to 11.9%............................................................. 140 123 17 140 123 39 1 2 72 16 1

12.0 to 15.9%............................................................. 58 53 5 58 53 13 6 34 4 1

16.0 to 19.9%............................................................. 28 25 3 28 25 5 2 18 2 1

2 0 .0 % or more........................................................... 29 2 0 9 29 2 0 4 2 14 5 4

GROWTH IN BANK DEPOSITS FROM JUNE 30, 1961 TO JUNE 29, 1963

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Federal Reserve Bank of St. Louis
Table 33. N u m b e r of C o m m e r c ia l B a n k s in th e U n ite d Sta t e s (States an d Ot h e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h a n g e in T otal

D e p o s it s F r o m J u n e 30, 1961, to J une 30, 1962, an d F rom J u n e 30, 1962, to J u n e 29, 1963

b a n k s g r o u pe d according to a m o u n t of d e po sits

05

05

Period and percentage change All

banks

Banks with deposits (in millions of dollars) of—

Less 

than 1 1 to 2

2 to 5 5 to 10 10 to 25 25 to 50 50 to 100 1 0 0 to 

500

500 

or more

June 30, 1961, to June 30, 1962

Banks witli deposit increases—total

20.0% or more.....................................

16.0 to 19.9%.......................................

12.0 to 15.9%.......................................

8.0 to 11.9%.......................................

4.0 to 7.9% .........................................

Less than 4.0% ....................................

Banks with deposit decreases—total

Less than 4.0% ....................................

4.0 to 7.9% .........................................

8.0 to 11.9%.......................................

12.0 to 15.9%.......................................

16.0 to 19.9%.......................................

20.0% or more.....................................

June 30, 1962, to June 29, 1963

Banks with deposit increases—total

20.0% or more.....................................

16.0 to 19.9%.......................................

12.0 to 15.9%.......................................

8.0 to 11.9%.......................................

4.0 to 7.9%.........................................

Less than 4.0% ....................................

Banks with deposit decreases— total

Less than 4.0% ....................................

4.0 to 7.9% .........................................

8.0 to 11.9%.......................................

12.0 to 15.9%.......................................

16.0 to 19.9%........................................

20.0% or more.....................................

11,666

1,342

925

1,725

2,664

3,041

1,969

1,567

937

371

135

66

36

22

11,854

1,511

1,085

1,937

2,853

2,756

1,712

1,356

782

319

140

58

28

29

1,235

277

114

198

214

243

189

228

120

64

16

16

1,006

228

97

137

169

204

171

257

113

67

43

22

5

7

2,186

329

190

355

458

502

352

386

207

108

41

19

7

4

2,101

320

200

305

464

482

330

347

198

74

35

18

10

12

3,836

397

339

553

887

1,018

642

502

319

106

41

20

3,974

537

382

697

947

889

522

373

230

90

31

11

6

5

2,059

180

136

285

475

588

395

263

165

58

24

8

7

1

2,252

242

211

420

591

503

285

174

107

38

18

5

4

2

1,433

100

101

203

364

428

237

140

93

30

8

1

5

3

1,536

131

128

242

406

396

233

131

79

39

8

1

2

2

35

20

62

117

126

80

26

19

3

1

1

1

1

474

29

34

77

127

133

74

45

33

8

2

1

1

202

8

9

34

63

57

31

15

8

2

4

222

12

16

27

69

61

37

13

8

1

3

224

13

15

27

67

66

36

7

229

11

17

21

63

67

50

15

13

2

51

3

1

8

19

13

7

60

1

11

17

21

10

1

1

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Table 34. N u m b e r o f M u t u a l Sa v in g s B a n k s in th e U n ite d Sta t e s (St a t e s an d Ot h e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h ange in T otal

D e p o s it s F rom J u n e 30, 1961, to Ju n e 30, 1962, an d F rom J u n e 30, 1962, to J u n e 29, 1963

b a n k s g rou ped ac c o r d in g to a m o u n t of d e po sits

Period and percent of change All

Banks

Banks with deposits (in millions of dollars) of—

Less 

than 1

1 to 2 2 to 5 5 to 10 10 to 25 25 to 50 50 to 100 1 0 0 to 

500

500 

or more

June 30, 1961, to June 30, 1962

497 2 4 31 65 153 98 59 72 13

2 0 .0 % or more.................................................................. 8 ........... 1 2 3 2

16.0 to 19.9%........................................................................ 7 1

8

2 2 2

12.0 to 15.9%........................................................................ 42

...........

2 13

44fin

9

23 8.0 to 11.9%........................................................................ 114 6 16

29

1 1

4

8

37

8

5

16

38

13

1

4.0 to 7.9%................................................... 227

99

1

2

1 1

1 0

1

Less than 4.0% ..................................................................... 1

ou 46 

1 ft 4

oi 10 7

Banks with deposit decreases— total............................... 10 1 1 1 1 5 1

Less than 4.0% ...........................................................

4 0 to 7 9%

7

3

1 1 1 3 1

June 30, 1962, to June 29, 1963

1 2

Banks with deposit increases—total............................... 508 3 3 28 66 155 101 61 77 14

2 0 .0 % or more..................................................................

16.0 to 19.9%...........................

8

1 0

49

165

2 3 1

5

18

46

2

2

7

31

12.0 to 15.9%........................................................................

8.0 to 11.9%........................................................................

1 2

8

1

28

1

9

2 0

26

1

9

29

35

2

4.0 to 7.9% .................................................................... 226

50

1 I 1 15

3

Less than 4.0% ............................................................... 2 I

ZOQ

DO

on

55 6

O 4 5 3 2

Banks with deposit decreases—total............................... 4 1 1 2

Less than 4.0% .....................................................................

4 0 to 7 Q %

3

1

1 1 1

1

GROWTH IN BANK DEPOSITS FROM JUNE 30, 1961 TO JUNE 29, 1963 67

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Federal Reserve Bank of St. Louis
T ab le 35. N u m b e r of B a n k s in t h e U n it e d St a t e s (St a t e s an d Oth e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h a n g e in T o t a l D e po sit s F rom

J u n e 30, 1961, to J un e 30, 1962, an d F ro m J u n e 30, 1962, to J u n e 29, 1963

b a n k s g r o u p e d a cco rd in g to f e d e r a l d e po sit in s u r a n c e c o r po r a tio n d is t r ic t s

Period and percent of change All

banks

Federal Deposit Insurance Corporation Districts

1 2 3 4 5 6 7 8 9 1 0 1 1 1 2

June 30, 1961, to June 30, 1962

Banks with deposit increases-—total.................... 12,163 669 722 1,123 862 1,007 1,362 1,241 1,448 970 1,362 1,076 321

2 0 .0 % or more........................................................... 1,350 40 44 36 97 174 184 90 132 60 203 217 73

16.0 to 19.9%............................................................. 932 17 36 50 70 99 137 71 116 58 147 103 28 12.0 to 15.9%............................................................. 1,767 76 83 1 2 2 136 174 2 2 1 163 239 136 2 0 2 176 39

8.0 to 11.9%............................................................. 2,778 158 168 305 196 2 0 1 324 293 354 238 274 193 74

4.0 to 7.9% ............................................................... 3,268 242 255 386 231 2 0 2 343 385 371 288 286 216 63 Less than 4.0% .......................................................... 2,068 136 136 224 132 157 153 239 236 190 250 171 44

Banks with deposit decreases—total.................... 1,577 62 73 111 68 134 140 138 178 168 274 193 38

Less than 4.0% .......................................................... 944 44 54 82 38 80 85 89 113 97 137 106 19

4.0 to 7.9% ............................................................... 374 1 0 9 16 15 30 29 31 39 49 85 51 1 0

8.0 to 11.9%............................................................. 135 3 5 9 8 1 1 16 13 1 2 1 1 25 17 5

12.0 to 15.9%............................................................. 6 6 2 2 3 9 5 3 9 4 17 g 4

16.0 to 19.9%............................................................. 36 2 1 2 2 4 3 4 4 7 7

2 0 .0 % or more........................................................... 2 2 1 4 2 2 2 1 3 3 4

June 30, 1962, to June 29, 1963

Banks with deposit increases—total.................... 12,362 699 735 1,109 830 1,030 1,379 1,286 1,474 1,023 1,386 1,064 347

2 0 .0 % or more........................................................... 1,519 54 67 58 98 171 214 93 177 148 183 179 77

16.0 to 19.9%............................................................. 1,095 37 44 61 93 103 188 1 2 2 134 73 127 81 32

12.0 to 15.9%............................................................. 1,986 82 115 2 0 2 151 167 228 252 241 143 198 152 55

8.0 to 11.9%............................................................. 3,018 2 0 2 223 333 196 2 2 0 303 362 358 223 296 226 76

4.0 to 7.9% ............................................................... 2,982 239 205 277 188 2 1 1 288 310 354 249 335 254 72

Less than 4.0% .......................................................... 1,762 85 81 178 104 158 158 147 2 1 0 187 247 172 35

Banks with deposit decreases—total.................... 1,360 30 31 83 62 127 125 87 182 118 270 227 18

Less than 4.0% .......................................................... 785 2 2 17 57 31 65 6 6 62 1 1 2 80 144 117 1 2

4.0 to 7.9% ............................................................... 320 4 7 16 18 37 34 1 0 47 2 1 64 59 3

8.0 to 11.9%............................................................. 140 2 3 6 9 15 1 2 3 1 1 9 40 29 1

12.0 to 15.9%............................................................. 58 2 1 2 6 6 5 5 Q 15 1 0

16.0 to 19.9%............................................................. 28 1 2 1 2 1 5 2 5 4 5

2 0 .0 % or more........................................................... 29 1 2 3 2 5 2 2 3 7 2

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
T ab le 36. N u m b e r of B a n k s in t h e U n ite d Sta t e s (St a t e s an d Ot h e r A r e a s ), D is t r ib u t e d b y P e r c e n t a g e C h a n g e in T o ta l D epo sits F rom

J u n e 30, 1961, to J un e 30, 1962, an d F rom J une 30, 1962, to J un e 29, 1963

BANKS GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH MAIN OFFICE IS LOCATED

Period and percent of change

All

banks

Population of Center or Metropolitan Area

Less

than

250

250

to

1 , 0 0 0

1 , 0 0 0

to

5,000

5.000 

to

25.000

25.000 

to

1 0 0 . 0 0 0

1 0 0 , 0 0 0

to

500,000

500,000

to

2,500,000

2,500,000

or

more

June 30, 1961, to June 30, 1962

Banks with deposit increases—total................................................... 12,163 458 2,600 4,041 2,744 1,215 654 289 162

2 0 .0 % or more................................................................................ 1,350 64 285 386 288 162 97 50 18 16.0 to 19.9% .............................................................................. 932 37 2 2 1 328 198 6 6 48 27 7

12.0 to 15.9% .............................................................................. 1,767 77 423 581 369 179 92 31 15 8.0 to 11.9% .............................................................................. 2,778 1 0 2 550 953 662 273 142 61 35 4.0 to 7 .9 % .............................................................................. 3,268 1 1 0 687 1,073 745 345 180 72 56 Less than 4 .0 % .............................................................................. 2,068 6 8 434 720 482 190 95 48 31

Banks with deposit decreases—total.................................................. 1,577 88 473 501 323 112 54 14 12

Less than 4 .0 % ......................................................... 944 45 267 315 2 1 1 65 28 8 5

4.0 to 7 .9 % ........................................................................................ 374 25 126 115 67 29 9 2 1

8.0 to 11.9% ...................................................................................... 135 8 49 35 26 9 2 3 3 12.0 to 15.9% ...................................................................................... 6 6 5 2 2 23 3 3 A 1

16.0 to 19.9% .......................................................................................... 36 5 5 9 7 Q

i

2 0 .0 % or more.......................................................................... 2 2 4 4 4

Oo

oK

1

June 30, 1962, to June 29, 1963

u o 2

Banks with deposit increases—-total................................................... 12,362 441 2,608 4,128 2,814 1,249 665 296 161

2 0 .0 % or more................................................................................... 1,519 52 304 478 342 174 99 56 14 16.0 to 19.9% .................................................................................... 1,095 46 228 370 280 99 46 19 7

12.0 to 15.9% .................................................................................... 1,986 64 394 739 487 177 77 36 1 2 8.0 to 11.9% .................................................................................... 3,018 85 621 1,055 674 315 158 69 41 4 . 0 to 7 .9 % ................................................................................ 2,982 1 1 1 628 935 663 329 176 79 61 Less than 4 .0 % .......................................................................... 1,762 83 433 551 368 155 109 37 26

Banks with deposit decreases— total.................................................. 1,360 105 441 395 241 94 56 17 11

Less than 4 .0 % .............................................................................. 785 45 252 235 145 65 29 8 6 4 .0 to 7 .9 % .......................................................................................... 320 28 99 96 59 15 16 6 1

8.0 to 11.9% .......................................................................................... 140 13 58 31 23 7 6 1 1 12.0 to 15.9% .......................................................................................... 58 1 0 17 2 0 4 2 A

16.0 to 19.9% ...................................................................................... 28 6 8 5 g

1

2 0 .0 % or more.................................................................................. 29 3 7 8 4 5 1

1

1

2

GROWTH IN BANK DEPOSITS FROM JUNE 30, 1961 TO JUNE 29, 1963 69

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Federal Reserve Bank of St. Louis
T ab le 37. N u m ber of C om m ercial B a n k s in the U nited States (States and Other A reas), D istributed b y Percentage C hange in T otal

D eposits F rom Ju ne 30, 1961, to June 30, 1962, and F rom June 30, 1962, to June 29, 1963

b a n k s grouped according to ratio of demand deposits to total deposits

Banks with ratio of demand deposits to total deposits of—

Period and percent of change Total Less

than

1 0 .0 %

1 0 .0 %

to

19.9%

2 0 .0 %

to

29.9%

30.0%

to

39.9%

40.0%

to

49.9%

50.0%

to

59.9%

60.0%

to

69.9%

70.0%

to

79.9%

80.0%

to

89.9%

90.0%

or

more

June 30, 1961, to June 30, 1962

1 1 , 6 6 6 796 988 1,813 2,313 2,282 1,940 1,135 331 16 52

1,342 99 173 276 337 258 131 51 1 1 2 4

16 0 to 19 9% ...................................................................................... 925 60 83 173 216 173 134 64 17 2 3

12.0 to 15 .9% ........................................................................................ 1,725 1 1 2 124 326 368 340 271 146 34 2 2

8.0 to 11.9% ......................................................................................... 2,664 151 217 368 504 560 471 299 79 1 14

4.0 to 7 .9 % ......................................................................................... 3,041 195 216 400 523 567 600 388 132 5 15

Less than 4 .0 % ..................................................................................... 1,969 179 175 270 365 384 333 187 58 4 14

Banks with deposit decreases~“ tota l................................................. 1,567 296 181 225 297 244 169 1 1 1 31 8 5

Less than 4 .0 % ....................................................................................... 937 131 1 1 2 130 179 148 118 87 25 3 4

4 0 to 7 9% .................................................................................... 371 95 38 63 64 60 32 16 2 1

8 0 to 11 9% .................................................................................. 135 34 19 16 27 2 0 1 2 5 2

12 0 to 15 9% ....................................................................................... 6 6 19 5 8 2 0 8 3 1 1 1

16 0 to 19 9% .................................................................................. 36 8 5 4 6 6 3 2 2

2 0 0 % or more........................................................................................ 2 2 9 2 4 1 2 1 1 1 1

June 30, 1962, to June 29, 1963

Banks with deposit increases“~ total.................................................. 11,854 610 707 1,636 2,372 2,553 2,169 1,335 368 38 6 6

2 0 0 % or more........................................................................................ 1,511 77 1 0 0 239 356 401 2 1 1 89 18 1 1 9

16 9 to 19.9% ......................................................................................... 1,085 39 6 8 144 246 262 189 104 30 2 1

12 0 to 15 9 % ......................................................................................... 1,937 65 81 223 382 445 375 291 63 3 9

8 0 to 11 9 % ......................................................................................... 2,853 108 149 360 526 572 584 411 117 3 23

4 0 to 7 9% .................................................................................... 2,756 179 161 379 538 550 513 303 103 13 17

Less than 4 0 % ..................................................................................... 1,712 142 148 291 324 323 297 137 37 6 7

Rflnlts with deposit decreases“ —,tota l.......................................... 1,356 284 165 255 258 178 133 59 1 2 8 4

782 133 84 143 153 115 96 48 7 2 1

4 0 to 7 9% .................................................................................... 319 63 42 75 63 37 27 7 2 2 1

8 0 to 11 9% .................................................................................... 140 48 13 23 30 1 2 7 2 1 2 2

12 0 to 15 9% ............................................................................ 58 18 15 6 7 9 1 2

16 0 to 19 9% ............................................................................ 28 8 8 5 3 1 1 1 1

2 0 0 % or more .................................................................................... 29 14 3 3 2 4 1 1 1

FEDERAL DEPOSIT INSURANCE CORPORATION

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T ab le 38. N u m ber of C ommercial Banks in the U nited States (States and Other A reas), D istributed b y Percentage C hanges in T otal

D eposits and in L oans F rom June 30, 1961, to Ju ne 30, 1962, and F rom June 30, 1962, to Ju ne 29, 19631

Period and percent of change T otal

Banks with percentage increase in loans of—

Total

Banks with percentage decreases in loans of—

28.0%

or

more

24.0

to

27.9%

2 0 . 0

to

23.9%

16.0

to

19.9%

1 2 . 0

to

15.9%

8 . 0

to

11.9%

4.0

to

7.9%

Less

than

4.0%

Less

than

4.0%

4.0

to

7.9%

8 . 0

to

11.9%

1 2 . 0

to

15.9%

16.0

to

19.9%

2 0 . 0

to

23.9%

24.0

to

27.9%

28.0%

to

more

June 30, 1961, to June 30, 1962

Banks with deposit increases—total. 9,961 1,102 429 643 969 1,494 1,911 1,973 1,440 1,697 897 385 201 96 38 32 14 34

2 0 .0 % or more..................................... 1,264 506 113 116 125 139 1 1 1 99 55 76 36 18 1 0 5 1 2 1 3

16.0 to 19.9% . .................................... 825 140 82 1 2 0 139 116 1 0 2 75 99 54 25 1 1 5 2 2

12.0 to 15.9% ...................................... 1,509 142 78 124 188 245 310 259 163 214 116 49 25 13 3 6 1 1

8.0 to 11.9% ...................................... 2,313 158 76 143 229 370 504 504 329 350 197 76 37 17 9 5 3 6

4.0 to 7 .9 % ...................................... 2,538 98 77 119 214 384 558 616 472 502 274 106 62 28 1 2 4 6 1 0 Less than 4 .0 % .................................... 1,512 58 34 59 93 217 312 393 346 456 2 2 0 1 1 1 56 28 1 1 15 3 1 2

Banks with deposit decreases— total. 1,028 62 17 51 83 131 180 245 259 533 184 138 69 42 23 27 13 37

Less than 4 .0 % .................................... 663 35 1 1 33 46 78 113 168 179 273 117 65 36 2 0 14 9 2 1 0 4.0 to 7 .9 % ...................................... 230 1 1 2 1 1 27 33 45 46 55 141 39 50 13 1 1 4 9 4 1 1

8.0 to 11.9% ...................................... 77 9 3 5 6 14 9 19 1 2 58 14 16 1 0 2 3 5 4 4

12.0 to 15.9% ...................................... 33 4 1 3 3 7 7 g 32 7 g 5 4 o 9 q Q

16.0 to 19.9% ...................................... 16 1 1 1 2 4 4 3 2 0 7 1 3 3 Z £1

o o

K

2 0 .0 % or more..................................... 9 2 1 1 2 1 2 9 2 2 1

O

A

June 30, 1962, to June 20, 1963

Banks with deposit increases—total. 10,763 1,513 573 883 1,268 1,673 1,939 1,726 1,188 1,091 560 269 136 57 24 17 15 13

2 0 .0 % or more..................................... 1,455 677 141 138 123 130 107 83 56 56 25 15 g 3 1 o

16.0 to 19.9% ...................................... 1,027 193 73 130 160 162 130 99 80 58 32 13 6 2 1 2

«5

1 1

12.0 to 15.9% ...................................... 1,806 194 113 181 254 313 342 250 159 131 6 8 33 12 7 g A i

8.0 to 11.9% ...................................... 2,612 188 126 209 337 465 508 479 300 241 129 53 29 17 5 4

*±

2

i

2

4.0 to 7 .9 % ...................................... 2,440 165 71 150 277 380 555 503 339 316 168 81 38 11 5 4 4 5

Less than 4 .0 % .................................... 1,423 96 49 75 117 223 297 312 254 289 138 74 43 17 6 7 1 3

Banks with deposit decreases—-total. 945 95 40 46 78 135 165 204 182 411 142 98 63 40 26 15 6 21

Less than 4 .0 % .................................... 584 57 32 23 48 85 98 134 107 198 82 42 34 18 8 6 2 6

4.0 to 7 .9 % ...................................... 2 1 1 17 2 13 19 30 43 43 44 108 36 35 1 2 9 7

8.0 to 11.9% ...................................... 8 6 1 2 3 5 7 13 16 1 2 18 54 15 1 1 13 5 4 2 2 2 12.0 to 15.9% ...................................... 29 3 2 2 3 3 3 6 7 29 5 6 2 4 4 1 2

16.0 to 19.9% ...................................... 18 2 3 1 3 1 5 3 1 0 2 3 2 2 1

2 0 .0 % or more..................................... 17 4 1 1 4 4 3 1 2 2 x 4 1 1 oo

1 Total numbers of commercial banks are smaller than those in Tables 33 and 37 because some banks had no loans outstanding.

GROWTH IN BANK DEPOSITS FROM JUNE 30, 1961 TO JUNE 29, 1963

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to

T ab le 39. N um ber of M u tu a l Savin gs B an k s in the U nited States (States and Other A r eas), D istributed b y Percentage C hanges in

T otal D eposits and in L oans F rom June 30, 1961, to Ju ne 30, 1962, and F rom Ju ne 30, 1962, to June 29, 1963

Banks with percentage increase in loans of— Banks with percentage decreases in loans of—

Period and percent of change Total 28.0%

or

more

24.0

to

27.9%

2 0 . 0

to

23.9%

16.0

to

19.9%

1 2 . 0

to

15.9%

8 . 0

to

11.9%

4.0

to

7.9%

Less

than

4.0%

Total Less

than

4.0%

4.0

to

7.9%

8 . 0

to

11.9%

1 2 . 0

to

15.9%

16.0

to

19.9%

2 0 . 0

to

23.9%

24.0

to

27.9%

28.0%

to

Less

June 30, 1961, to June 30, 1962

Banks with deposit increases—-total. 487 16 13 27 55 78 149 106 43 10 7 2 1

2 0 .0 % or more..................................... 8 3 1 2 2

16.0 to 19.9% ...................................... 7 4 1 1 1

12.0 to 15.9% ...................................... 42 1 3 8 1 1 9 7 3

8.0 to 11.9% ...................................... 113 5 4 6 17 28 39 1 2 2 1 1

4.0 to 7 .9 % ...................................... 223 4 4 6 19 32 84 54 2 0 4 3 1

Less than 4 .0 % 1

.................................... 94 3 1 1 5 8 18 37 2 1 5 4

Banks with deposit decreases— total. 8 1 3 4 2 2

Less than 4 .0 % .................................... 6 1 3 2 1 1

4.0 to 7 .9 % ...................................... 2 2 1 1

June 30, 1962, to June 29, 1963

Banks with deposit increases—total. 502 15 13 33 50 107 166 8 8 30 6 5 1

2 0 ,0 % or more..................................... 8 5 2 1

16.0 to 19.9% ...................................... 9 1 1 2 4 1 1 1

12.0 to 15.9% ...................................... 49 3 3 6 14 1 1 9 2 1

8.0 to 11.9% ...................................... 164 3 3 15 23 49 53 15 3 1 1

4.0 to 7 .9 % ...................................... 223 2 3 1 0 8 41 8 8 54 17 3 3

Less than 4 .0 % .................................... 49 1 1 6 15 17 9 1 1

Banks with deposit decreases— total. 4 1 1 2

Less than 4 .0 % .................................... 3 1 1 1

4.0 to 7 .9 % ...................................... 1 1

FEDERAL DEPOSIT INSURANCE CORPORATION

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Banks are grouped by Federal Deposit Insurance Corporation districts in Table 35. In both 1961-62 and 1962-63 the banks in Districts 

1-4 were among the highest in the percentage which had gains in deposits. The lowest proportions of banks having gains were in Districts 

10 and 11. Among banks having increases in deposits, those in Districts 

5, 11, and 12 had higher proportions with increases of 20 percent or 

more than in any other district. Banks having increases of less than 

4 percent were relatively small proportions of all the banks gaining 

deposits in Districts 6 and 12 in 1961-62, and in Districts 2, 6, 7, and 

12 in 1962-63. Losses of less than 4 percent were reported by about 

seven-tenths of the banks in which deposits declined in Districts 1, 

2, and 3 in the first period, and in Districts 1 and 7 in the second.

Analysis of deposit gains by banks grouped according to the population of the center in which they are located reveals that, both in 1961- 

62 and 1962-63, deposits increased in a larger proportion of the banks 

in population centers of 25,000 or more than in the smaller places. 

Banks in population centers of 1,000 to 5,000 and 5,000 to 25,000 had 

more moderate changes than those elsewhere. Fewer of the banks in 

these centers which gained deposits had increases of 20 percent or more, 

and the percentage of those in which deposits declined by 8 percent or 

more was also low. Table 36 shows the distribution of banks by percentage change in deposits and by population of center in which located.

In Table 37 commercial banks are grouped by the ratio of demand 

deposits to total deposits. The table shows that of banks with increases in deposits, those with lower ratios of demand deposits gained 

more rapidly than those in which demand deposits predominate. However, a larger share of the banks with low ratios of demand deposits 

experienced losses in deposits than was true for banks with high proportions of demand deposits.

Table 38 shows distributions of commercial banks based on percentage changes in deposits and in loans. Increases both in deposits 

and in loans were experienced by three-fourths of the banks in 1961-62 

and by four-fifths in 1962-63. In about three-tenths of the banks 

having increases both in deposits and loans the rate of increase in 

loans fell below that for deposits. The number of banks in which loans 

increased by 20 percent or more was nearly twice the number having 

deposit increases at that rate. About one-tenth of the banks had increases in deposits but decreases in loans; while a slightly smaller proportion had declines in deposits but greater loans. The number of banks 

with decreases both in loans and deposits was relatively small.

Distributions of mutual savings banks by percentage changes in 

deposits and in loans are given in Table 39. Almost all mutual savings 

banks had increases both in deposits and loans, and in less than onetenth of such banks was the percentage increase in loans less than that 

of deposits.

GROWTH IN BANK DEPOSITS FROM JUNE 30, 1961 TO JU N E 29, 1963 73

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74 FEDERAL DEPOSIT INSURANCE CORPORATION

I n c o m e o f I n s u r e d B a n k s

Income in 1963. Total income of commercial and mutual savings 

banks participating in Federal deposit insurance increased by 10.2 

percent in 1963. Of the total income, amounting to $16,038 million, 

approximately 87 percent was received by insured commercial banks. 

In 1963 about 64 percent of the income was derived from loans, compared with 62 percent in 1962.

Income of insured commercial banks. Total income of insured 

commercial banks in 1963 was $13,978 million. Table 40 shows the 

sources and disposition of income for these banks in 1963 and the two 

preceding years. Each of the sources produced more income in 1963 

than in 1962, with a gain of 21 percent in income from securities other 

than United States Government obligations being the greatest percentage increase. Income taxes was the only item of disposition of 

income to decline in 1963. Interest paid on deposits increased by 22 

percent, reflecting larger time and savings deposits and higher rates 

being paid.

Table 41 shows the percentage distribution of sources and disposition of total income of insured commercial banks in each of the three 

years. Income from loans and from securities other than United States 

Government obligations were the only items to contribute larger shares 

of total income in 1963 than in 1962. Salaries and wrages continued 

to decline as a percentage of the total disposition of income, being 

replaced in 1963 as the largest item by interest on deposits.

Table 40. So u rces an d D is po s itio n of T o ta l I n c o m e, I n su r e d C o m m e r c ia l

B a n k s in th e U n ite d St a t e s (St a t e s an d O t h e r A r e a s ), 1961-1963

Income

Amounts (in millions)

1963 1962 1961

Total in com e........................................................................................ $13,978 $1 2 , 6 8 6 $11,778

Sources

Loans................................................................................................... 8,672

2,176

7,718

2,093

7,009

.......................................................... 1,902U. S. Government obligations

Other securities.................................................................................. 921 759 629

Service charges on deposits............................................................... 729 681 630

Other current income......................................................................... 1 , 0 1 1 968 900

Recoveries, etc. 1................................................................................ 468 467 708

Disposition

Salaries and wages............................................................................. 3,284 3,074 2,899

Interest on deposits........................................................................... 3,464 2,845 2,107

Other current expenses...................................................................... 2,966 2,670 2,435

Charge-offs, etc. 2 ............................................................................... 884 837 935

Income taxes...................................................................................... 1,227 1,256 1,406

Dividends to stockholders 3 .............................................................. 993 941 895

Additions to capital accounts........................................................... 1,159 1,063 1 , 1 0 1

1 Recoveries from assets previously charged off (except those credited to valuation reserve accounts) 

profits on assets sold, and transfers from valuation reserve accounts.

2 Losses and other charge-offs (except those charged to valuation reserve accounts), and transfers 

to valuation reserve accounts.

3 Includes interest on capital notes and debentures.

Note: Due to rounding, components may not add to total.

Detailed data: Table 114. pp. 152-153.

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INCOME OF INSURED BANKS 7 5

Table 41. P e r c e n t a g e D is t r ib u t io n of So u rces an d D ispo sitio n o f T o t a l

I n c o m e, I n su r e d C o m m e r c ia l B a n k s in th e U n it e d St a t e s

(St a t e s an d Ot h e r A r e a s ), 1961-1963

Percent of total

income

1963 1962 1961

Total in com e................................................................................... 1 0 0 . 0 %

62.0

1 0 0 . 0 %

60.8

1 0 0 . 0 %

59.5

Sources

Loans...................................................................................................

U. S. Government obligations.......................................................... 15.6 16.5 16.2

Other securities................................................................................... 6 . 6 6 . 0 5.3

Service charges on deposits............................................................... 5.2 5.4 5.4

Other current income......................................................................... 7.2 7.6 7.6

Recoveries, etc. 1................................................................................. 3.4 3.7 6 . 0

Disposition

Salaries and wages................. ........................................................... 23.5 24.2 24.6

Interest on deposits........................................................................... 24.8 22.4 17.9

Other current expenses...................................................................... 2 1 . 2 2 1 . 0 20.7

Charge-offs, etc. 2 ............................................................................... 6.3 6 . 6 7.9

Income taxes..................................................................................... 8 . 8

7.1

1 0 . 0 11.9

Dividends to stockholders 3............................................................... 7.4 7.6

Additions to capital accounts........................................................... 8.3 8.4 9.4

1 Recoveries from assets previously charged off (except those credited to valuation reserve accounts), 

profits on assets sold, and transfers from valuation reserve accounts.

2 Losses and other charge-offs (except those charged to valuation reserve accounts), and transfers 

to valuation reserve accounts.

3 Includes interest on capital notes and debentures.

Selected operating ratios of insured commercial banks for 1963 and 

the two preceding years are given in Table 42. The average rate of 

income on United States Government obligations increased in both 

1962 and 1963, as did the ratio of service charges to demand deposits. 

The average rate of interest paid on time and savings deposits also increased in both 1962 and 1963. Current operating expenses continued 

to rise relative to current earnings. The ratios of net current operating earnings to total assets, and of dividends to total capital accounts, 

both declined in 1962 and 1963.

As is shown in Table 43, one-third of the insured commercial banks 

operating throughout 1963 had deposits of from $2 million to $5 million. These banks employed one-fifteenth of the personnel, and held

Table 42. Se le cted Op e r a t in g R atio s of I n su red C o m m e r c ia l B a n k s in t h e

U n ite d St a t e s (Sta t e s an d Ot h e r A r e a s), 1961-1963

Item 1963 1962 1961

Average rate of income on loans.......................................................... 5.98%

3.40

6.04%

3.24

5.94%

Average rate of income on U. S. Government obligations................ 3.08

Average rate of income on other securities......................................... 2.93 2.95 2.90

Ratio of service charges to demand deposits...................................... .46 .44 .43

Average interest paid on time and savings deposits.......................... 3.31 3.18 2.71

Current operating expenses to current earnings................................. 71.91 70.29 67.22

Income taxes to net profits before income taxes................................. 36.30 38.53 41.33

Net current operating earnings to total assets...................................

Net profits after taxes to total capital accounts.................................

Dividends to total capital accounts.....................................................

1.27

8 . 8 6

4.09

1.32

8.83

4.15

1.43

9.37

4.20

Detailed data: Table 115, pp. 154-155.

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76 FEDERAL DEPOSIT INSURANCE CORPORATION

T a b le 43. D is t r ib u t io n of I n su red C o m m e r c ia l B a n k s O p e r a t in g

T h ro u g h o u t 1963 b y D ep o s it Size of B a n k , an d P e r c e n t a g e s of

Sele c te d B a n k in g T o tals in E ach Size G r o u p

Size of group

Number 

of 

banks 

(Dec. 31)

Number

of

employees 

(Dec. 31)

Assets 

(Dec. 20)

Net

current

operating

earnings

Net

profits

after

taxes

All banks...................................................... 100.0% 100.0% 100.0% 100.0% 100.0%

Banks with deposits of—

Less than $1,000,000..................................... 5.6 .4 . 2 . 2 . 2

$1 ,0 0 0 , 0 0 0 to $2 ,0 0 0 , 0 0 0 ............................... 16.4 1.9 1 . 2 1 . 1 1.3

$2,000,000 to $5,000,000............................... 33.2 6 . 8 5.1 4.7 5.2

$5,000,000 to $10,000,000............................. 2 1 . 1 8 . 1 6.9 6.4 6.7

$10,000,000 to $25,000,000........................... 14.6 1 2 . 1 10.3 9.4 9.2

$25,000,000 to $50,000,000........................... 4.4 8.3 7.1 6.4 6.3

$50,000,000 to $100,000,000......................... 2 . 2 7.9 7.2 6.7 6.5

$100,000,000 to 500,000,000....................... 2 . 0 2 1 . 1 2 0 . 0 20.7 2 0 . 1

$500,000,000 or more.................................... .5 33.4 42.0 44.4 44.5

Detailed data: Table 111, p. 145; Table 118, pp. 160-161.

about one-twentieth of the assets. The largest one-half of 1 percent 

of the banks, each of which held deposits of $500 million or more, had 

one-third of the total employees and two-fifths of the assets.

Income of insured mutual savings banks. The income of mutual 

savings banks insured by the Federal Deposit Insurance Corporation 

increased by 10.7 percent in 1963. The increase of $199 million occurred almost entirely in the income from loans. Table 44 shows the 

amounts, and Table 45 the percentage distribution, of the sources and 

disposition of income of insured mutual savings banks in 1963 and the 

two preceding years.

T a b le 44. S o u rces an d D is po s itio n of T o ta l I n com e,

I n su r e d M u t u a l Sa v in g s B a n k s in th e U n it e d St a t e s , 1961-1963

Income

Amounts (in millions)

1963 1962 1961

Total income....................................................................................... $2,060 $1,861 $1,709

Sources

Loans................................................................................................... 1,562

154

1,366

156

1,213

U. S. Government obligations.......................................................... 152

Other securities................................................................................... 204 206 206

Other current income 1 ...................................................................... 56 47 42

84 8 6 96

Disposition

Salaries and wages............................................................................. 127 1 2 0 113

Dividends and interest on deposits.................................................. 1,482 1,334 1,148

Other current expenses 1 .................................................................... 165 152 146

Charge-offs, etc. >............................................................................... 84 90 98

Income taxes 4 .................................................................................... 23 18 16

Additions to surplus accounts.......................................................... 179 147 187

1 Includes amounts classified as “nonrecurring” income or expenses.

2 Recoveries from assets previously charged off (except those credited to valuation reserve accounts), 

profits on assets sold, and transfers from valuation reserve accounts.

8 Losses and other items charged off (except those charged to valuation reserve accounts), and 

transfers to valuation reserve accounts.

4 Includes franchise taxes computed on an income basis.

Note: Due to rounding, components may not add to total.

Detailed data: Table 121, pp. 174-175.

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INCOME OF INSURED BANKS 77

The business of mutual savings banks differs in several ways from 

that of commercial banks. These differences are reflected in various 

items of the sources and disposition of income. Loans, and securities 

other than United States Government obligations, produce larger shares 

of the income of mutual savings banks. Income from obligations of 

the United States Government is of less importance and the almost 

complete absence of demand deposits eliminates service charges on 

checking accounts as an item of income. Mutual savings banks are 

able to operate with a much smaller number of employees in relation 

to the amount of deposits than are commercial banks. The mutual 

form of organization, in which payments to depositors consist of both 

dividends and interest, contributes to the importance of this item of 

disposition of income. Income taxes constitute a much smaller item 

than in the case of commercial banks.

T a b le 45. P e r c e n t a g e D is t r ib u t io n of So u rces a n d D is p o s it io n o f T o t a l

I n c o m e, I n su r e d 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 , 1961-1963

Income

Percent of total

1963 1962 1961

Total in com e........................................................................................ 1 0 0 . 0 % 1 0 0 . 0 % 1 0 0 . 0 %

Sources

Loans................................................................................................... 75.8 73.4 71.0

U. S. Government obligations.......................................................... 7.5 8.4 8.9

Other securities.................................................................................. 9.9 1 1 . 1 1 2 . 0

Other current income 1 ...................................................................... 2.7 2.5 2.5

Recoveries, etc. 2 ................................................................................ 4.1 4.6 5.6

Disposition

Salaries and wages............................................................................. 6 . 2 6.4 6 . 6

Dividends and interest on deposits.................................................. 71.9 71.7 67.2

Other current expenses 1 .................................................................... 8 . 0 8 . 2 8 . 6

Charge-offs, etc. 3 ............................................................................... 4.1 4.8 5.7

Income taxes 4 .................................................................................... 1 . 1 1 . 0 1 . 0

Additions to surplus accounts.......................................................... 8.7 7.9 10.9

1 Includes amounts classified as “nonrecurring” income or expenses.

2 Recoveries from assets previously charged off (except those credited to valuation reserve accounts), 

profits on assets sold, and transfers from valuation reserve accounts.

5 Losses and other items charged off (except those charged to valuation reserve accounts), and transfers to valuation reserve accounts.

4 Includes franchise taxes computed on an income basis.

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PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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B a n k A bso rptio ns A pproved b y t h e C orporation

Table 101. Description of each merger, consolidation, acquisition of assets, or assumption of 

liabilities approved by the Corporation during 1963

N u m b e r , O f f ic e s , a n d D e p o s it s o f B a n k s

Table 102. Changes in number and classification of banks and branches in the United States 

(States and other areas) during 1963

Table 103. Number of banking offices in the United States (States and other areas), December 31, 1963

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

and type of office

Table 104. Number and deposits of all banks in the United States (States and other areas), 

December 20, 1963

Banks grouped according to insurance status and by district and State

Tabulations for all banks are prepared in accordance with an agreement among the Federal bank supervisory agencies. Provision of

deposit facilities for the general public is the chief criterion for distinguishing between banks and other types of financial institutions.

However, trust companies engaged in general fiduciary business

though not in deposit banking are included; and credit unions and

savings and loan associations are excluded except in the case of a few

which accept deposits under the terms of special charters.

Branches include all offices of a bank other than its head office,

at which deposits are received, checks paid, or money lent. Banking

facilities separate from a banking house, banking facilities at government establishments, offices, agencies, paying or receiving stations,

drive-in facilities and other facilities operated for limited purposes

are defined as branches under the Federal Deposit Insurance Act,

Section 3(o), regardless of the fact that in certain States, including

several which prohibit the operation of branches, such limited facilities are not considered branches within the meaning of State law.

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Commercial and stock savings banks include the following

categories of banking institutions:

National banks;

Incorporated State banks, trust companies, and bank and trust

companies, regularly engaged in the business of receiving deposits,

whether demand or time, except mutual savings banks;

Stock savings banks, including guaranty savings banks in New

Hampshire;

Industrial and Morris Plan banks which operate under general

banking codes, or are specifically authorized by law to accept deposits and in practice do so, or the obligations of which are regarded

as deposits for deposit insurance;

Special types of banks of deposit: cash depositories in South

Carolina; a cooperative exchange in Arkansas; a savings and loan

company operating under Superior Court charter in Georgia; government operated banks in American Samoa, North Dakota, and

Puerto Rico; a cooperative bank, usually classified as a credit

union, operating under a special charter in New Hampshire; a savings institution, known as a “trust company,” operating under

special charter in Texas; an employes’ mutual banking association

in Pennsylvania; the Savings Banks Trust Company in New York;

and 17 branches of foreign banks which engaged in a general deposit

business in the continental United States, Puerto Rico, and Virgin

Islands.

Private banks under State supervision, and such other private

banks as are reported by reliable unofficial sources to be engaged in

deposit banking.

Nondeposit trust companies include institutions operating under

trust company charters which are not regularly engaged in deposit

banking but are engaged in fiduciary business other than that incidental to real estate title or investment activities.

Mutual savings banks include all banks operating under State

banking codes applying to mutual savings banks.

Institutions excluded. Institutions in the following categories are

excluded, though such institutions may perform many of the same

functions as commercial and savings banks:

Banks which have suspended operations or have ceased to accept

new deposits and are proceeding to liquidate their assets and pay off

existing deposits;

Building and loan associations, savings and loan associations,

credit unions, personal loan companies, and similar institutions,

chartered under laws applying to such institutions or under general

incorporation laws, regardless of whether such institutions are authorized to accept deposits from the public or from' their members

and regardless of whether such institutions are called “banks” (a few

institutions accepting deposits under powers granted in special

charters are included);

Morris Plan companies, industrial banks, loan and investment

companies, and similar institutions except those mentioned in the

description of institutions included;

Branches of foreign banks, and private banks, which confine their

business to foreign exchange dealings and do not receive “deposits”

as that term is commonly understood;

Institutions chartered under banking or trust company laws, but

operating as investment or title insurance companies and not engaged in deposit banking or fiduciary activities;

Federal Reserve banks and other banks, such as the Federal

Home Loan banks and the Savings and Loan Bank of the State of

New York, which operate as rediscount banks and do not accept

deposits except from financial institutions;

The postal savings system.

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82 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by the C orporation

D uring 1963

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

No. 1—Chittenden Trust Company, 

Burlington, Vermont 54,307 1 0 1 0

to merge with

The First National Bank of Montpelier, 

Montpelier 6,327 1

Summary report by Attorney General, October 15, 1962

The Chittenden Trust Company, Burlington, Vermont, the largest bank competing in the Montpelier, Vermont area, with assets totaling $41.3 million, proposes

to merge with the First National Bank, with assets of $6.4 million, located in Montpelier, Vermont.

Chittenden’s service area, covering a considerable portion of the State of Vermont,

is highly diversified, ranging from agricultural to residential and industrial. Chittenden’s present size is due in considerable measure to its six acquisitions of commercial

banks since 1954, including two banks previously acquired in 1962. First National’s

service area is the economically stable area of Montpelier, Vermont.

The effects of the proposed merger on competition would be: the elimination of

a competitor of Chittenden’s; the enhancement of Chittenden’s dominant position

in IPC deposits and loans and discounts in the Montpelier, Vermont area; the

control by the three largest banks in this area of nearly two-thirds of the IPC

deposits and loans and discounts, with seven banks sharing the remaining one-third

in these categories; the intensification of the stratification in size of holdings by

commercial banks in the area; the destruction of an alternative source of banking

services for common customers of the banks who do a substantial dollar amount

of business with First National; and the continuing growth of Chittenden through

the purchase of competitors.

The effect of the merger on competition would therefore be substantially adverse.

Basis for Corporation approval, January 17,1963

Chittenden Trust Company is the largest commercial bank in Vermont and

operates its main office and nine branches throughout the north and north-central

sections of the State. It recently obtained a branch in Montpelier, the location of

First National, through the acquisition of the Capital Savings Bank and Trust

Company. The present banking business of First National will be transferred to the

existing branch in Montpelier upon consummation of the merger.

First National has been experiencing problems which have resulted in poor earnings in recent years and a loss for 1962. In addition, its two principal officers, who are

also directors of the bank, are over 70 years of age and the next ranking officer is expected to retire in two years. The bank’s problems are such that it is the

consensus of the directors of the bank, who own 53.4 percent of its stock, that if

the merger is not approved, the bank will be forced to liquidate. Thus, it appears

First National’s ability to offer competitive services and to function effectively

as a unit bank is limited. Further, First National is not as significant a competitive

factor in the Montpelier service area as its size would suggest. Its loan ratio is only

35 percent as compared to 59.4 percent for all Vermont insured commercial banks,

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BANK ABSORPTIONS APPROVED BY TH E CORPORATION 83

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssu m pt io n of L iabilities A pproved by th e C orporation

D u ring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

and 60.3 percent for the Chittenden Trust Company, and it does not offer such

common loan services as FH A improvement loans, instalment loans on consumer

goods and dealer financing, all of which are offered by the applicant.

Our investigation of the proposal disclosed no objection from any of the competing banks, and bankers in the Burlington and Montpelier service areas felt that

the merger would have little effect on banking competition in the combined service

area. The increase in the applicant’s resources resulting from this merger would have

no unfavorable effect upon competition in the areas in which it presently operates.

It would still be only three-fifths the size of the largest bank in the State, a mutual

savings bank in Burlington, which obtains business throughout the northern half of

the State. With reference to savings banks, it should be noted that time deposits

are a most important aspect of the deposit structures of the commercial banks

operating in the Burlington-Montpelier service areas. Four-fifths of the aggregate

IPC deposits of the banks operating in the Burlington and Montpelier service areas

are time deposits. Thus, the competition provided by mutual savings banks, which

may grant unsecured and chattel mortgage loans in addition to real estate loans,

is a most important factor in the banking competition in the service areas involved.

The applicant will hold slightly less than one-fifth of the aggregate IPC deposits

of the banks operating in the Burlington-Montpelier service areas, and its Montpelier branch will hold only 13.6 percent of the aggregate IPC deposits of the

banks operating in the Montpelier service area. There will remain competition

from two other well established and profitable banks in Montpelier and from seven

other banks in the Montpelier service area. In this connection it should be noted

that, after the merger, the population per bank in Montpelier will be 2,933 and

4,286 per bank in Washington County as compared to approximately 12,800 persons

per bank in the United States and 6,600 per bank in Vermont.

It is concluded that there is no tendency toward monopoly indicated, and that

the over-all effect of the merger on competition would not be unfavorable. The

improved management and broader investment range which will be accorded the

resources of First National by the applicant will benefit the public and therefore, it

is concluded that the merger which will solve the serious problems of First National

is in the public interest.

No. 2—The Central Jersey Bank and Trust Company,

Freehold, New Jersey 82,823 1 0 1 1

to merge with

The Farmers National Bank of Allentown,

Allentown 5,128 1

Summary report by Attorney General, November 8, 1962

The acquisition by The Central Jersey Bank and Trust Company, Freehold,

New Jersey of The Farmers National Bank of Allentown, New Jersey, both in

Monmouth County, would enhance further the dominant position of Central Jersey

in the county, which is attributable to several prior mergers in the past few years.

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84 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssu m pt io n of L iabilities A pproved by t h e C orporation

D u rin g 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

The proposed merger would eliminate another independent bank and would permit

Central Jersey to extend its present dominance in the eastern section of the county

to the western section. The merger would result in an adverse competitive effect in

the area involved.

Basis for Corporation approval, February 14,1963

The service area of Central Jersey Bank and Trust comprises the central and

eastern sections of Monmouth County from the area around Freehold eastward to

the Atlantic Coast. It has no offices west of Freehold. The service area of Farmers

comprises a small area surrounding Allentown in the extreme southwestern section

of Monmouth County, some 18 miles southwest of Freehold and about 10 miles

southeast of downtown Trenton. The closest Monmouth County banks to Farmers,

whose chief competition comes from Trenton and other Mercer County banks, are

in Freehold and Englishtown, the latter being about 20 miles to the northeast. Under

New Jersey banking law, a bank can establish branches only in the county in

which its main office is located and branches cannot be established in a municipality,

other than the main office location, if the main office or a branch of another bank

is located there, except by merger. Hence, the only means of entry of Central

Jersey Bank and Trust into Allentown is by merger with Farmers.

It was determined that there is virtually no competition between Central Jersey

Bank and Farmers that would be eliminated as a result of the merger. Also, Central

Jersey’s proportionate share of the IPC deposits and loans held by all Monmouth

County banks would increase only a modest 1.2 percent, it would rank about equal

with one other bank as second and third largest, and its competitiveness in its

present service area would not be altered to any significant degree. The chief benefit

to be derived by Central Jersey would be its entry into western Monmouth County,

and because of its much greater resources, larger lending limit, broader and more

specialized banking services in general, and more modern accounting facilities, it

should be able to provide stronger competition to the larger Trenton banks than

does the unit Farmers bank. There is no tendency toward monopoly involved, and

in view of the improved banking services and increased banking competition that

would obtain in the Allentown area, together with solution of the management

succession problem at Farmers, it was concluded that the merger would be in the

public interest.

No. 3—Everett Trust & Savings Bank, 

Everett, Washington 28,969 4 5

to acquire the assets and assume

liabilities of

Bank of Lake Stevens,

Lake Stevens 1,047 1

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 85

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition

of A ssets or A s su m p t io n of L iabilities A pproved by t h e C orporation

D u rin g 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

Summary report by Attorney General, February 14, 1963

This merger is between the largest and second smallest of the independent banks

in Snohomish County.

Since the prospectively acquired bank is only a minor banking factor in the

county, the effect of the merger on competition would not be significantly adverse.

Basis for Corporation approval, March 14, 1963

The acquisition of the assets and assumption of the liabilities of the Bank of

Lake Stevens by the Everett Trust & Savings Bank will have little effect on competition in the area and will not represent a tendency toward monopoly. The communities of Lake Stevens and Everett are separated by a distance of nine miles

and the two banks operate mainly within their own communities and the areas immediately surrounding. There is some competition between the two banks but it is

regarded as of limited significance. The transaction will not change the relative

rank of the applicant among banks in its service area nor affect competition therein.

It is the expressed desire of the president and major stockholder of the Bank of

Lake Stevens to retire and dispose of his interest in the bank. There is reported

little likelihood of any other party or parties appearing on the scene willing and

able to continue the independent operation of so small a unit. The satisfactory

condition, capital structure, earnings record and management of the applicant, its

proximity to Lake Stevens and its interest in serving the area which has been

demonstrated by an application filed for a branch therein strongly suggest that the

effect of the subject proposal will be beneficial to the public interest.

No. 4—First-Citizens Bank & Trust Company,

Smithfield, North Carolina 331,704 76 77

to merge with

Carolina Industrial Bank,

Asheville 2,925 1

Summary report by Attorney General, February 6, 1963

The proposed merger of First-Citizens Bank and Trust Company, Smithfield,

North Carolina and Carolina Industrial Bank, Asheville, North Carolina, would not

appear to have significant adverse effects upon competition since First-Citizens

through a subsidiary owns 93.3 percent of the stock of Carolina Industrial. The

merger would thus give de jure recognition to Carolina Industrial’s de facto status.

Basis for Corporation approval, March 14,1963

The applicant, operating 76 offices, competes throughout most of the State of

North Carolina, though not presently in the trade area of Carolina Bank, its nearest

office being in Hickory, some 75 miles east of Asheville. There is no competition

between the banks that will be eliminated as a result of the merger.

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

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssu m p t io n of L iabilities A pproved b y th e C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

The addition of the unit Carolina Bank to the applicant’s system of branches

will increase the latter’s proportionate holding of total deposits held by all North

Carolina banks by only 0.1 percent, which obviously would have no significant

effect on its present competitive standing in relation to the other large state-wide

branch systems. The applicant will gain entry to an area where it is not now

represented and it is here that the principal effect on competition will occur.

In Asheville, two of the State’s four largest banks are presently in direct competition, operating four and six local offices, respectively. The entry of applicant

will introduce direct competition by the State’s third largest bank, but through only

one office. In addition, the fifth largest bank recently established a de novo branch

in Asheville. Carolina Bank, as to total resources, is by far the smallest bank in the

area and until recently it limited its operations to consumer credit financing and

the acceptance of time deposits. In the Asheville area the effect of the merger

would be to increase competition because the applicant with its much broader

range of banking facilities and services would be better able than is Carolina Bank

to compete with the other large banks. An increased lending limit, trust facilities,

and many other varied banking services would become directly available to the

customers of Carolina Bank. Furthermore, the number of individual banks from

which the public may choose to do its banking business will not be changed;

hence, there is no tendency toward monopoly.

In view of the improved banking services that would become available to the

customers of Carolina Bank and the increased competition that would result in the

Asheville area, it is concluded that the merger would be in the public interest.

No. 5—The County Trust Company, White

Plains, New York 679,213 1 1

to merge with

The Gramatan Safe Deposit Corporation,

Bronxville2 — 1

Summary report by Attorney General, February 28, 1963

By virtue of its recent merger with The Gramatan National Bank and Trust

Company of Bronxville, The County Trust Company owns 9,995 of the 10,000 outstanding shares of The Gramatan Safe Deposit Corporation. The proposed merger

will therefore involve only a change in form rather than substance. Accordingly, we

find that no anti-competitive effects will result from the merger.

Basis for Corporation approval, March 21,1963

The County Trust Company acquired all but directors’ qualifying shares of The

Gramatan Safe Deposit Corporation, whose operations are limited to the safe

deposit business, through the merger on December 31, 1962 of The Gramatan National Bank and Trust Company of Bronxville, New York. The objective of the

subject proposal is the greater efficiency and economy of operation of an activity

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Federal Reserve Bank of St. Louis
BANK ABSORPTIONS APPROVED BY THE CORPORATION 87

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation ,. A cquisition

of A ssets or A ssu m pt io n of L iabilities A pproved by t h e C orporation

D u ring 1963— Continued

Banking offices

Resources

Name of bank, and type of transaction1 (in

(in chronological order of determination) thousands In To be

of dollars) operation operated

that had been conducted through a separate entity although under the control of

the merged national bank. The County Trust Company prefers to carry on the

operations of its safe deposit business as a department of the bank and has taken

similar action in connection with previous merger transactions. Favorable findings

have been made on the seven factors required to be considered by the Corporation

and it is concluded that the merger is in the public interest.

No. 6—Titusville Trust Company,

Titusville, Pennsylvania (change of title to

The Pennsylvania Bank and Trust Company) 30,896 2 5

to merge with

Warren Bank and Trust Company,

Warren 15,061 3

Summary report by Attorney General, February 28,1963

The proposed merger of the Titusville Trust of Titusville, Pennsylvania with

the Warren Bank and Trust Company of Warren, Pennsylvania would tend to

bring about a greater concentration of banking facilities in Crawford and Warren

Counties and to this extent would have a somewhat adverse effect upon competition.

Basis for Corporation approval, April 11, 1963

Located 39 miles apart, there is virtually no competition between the merging

banks under this proposal that will be eliminated. The Warren Bank with total resources of slightly more than $15 million is faced with strong competition from its

local competitor, The Warren National Bank, which has total resources of approximately $50 million. The union of the Warren Bank with the applicant will decrease

this disparity in size, and in the Warren service area should result in substantially

increased competition. In the Titusville area, the merger should have no unfavorable competitive effects, and throughout the broad service area, competition should

be stimulated.

The merger will correct a management succession problem now faced by the

Warren Bank, and the greater resources and larger lending limit of the resulting

bank should prove beneficial to the customers of the bank being absorbed.

There is no tendency toward monopoly involved, and in view of the more aggressive policies and increased banking competition that would obtain in the

Warren area, together with the solution of the management succession problem at

Warren Bank, it was concluded that the merger would be in the public interest.

No. 7—Berks County Trust Company,

Reading, Pennsylvania 189,052 1 0 1 1

to merge with

Reamstown Exchange Bank,

Reamstown 3,518 1

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88 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssu m p t io n of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

Summary report by Attorney General, March 8, 1963

Metropolitan Reading, Pennsylvania, the service area of applicant, Berks County

Trust Company, is located approximately 10 miles from the service area of the

acquired bank, Reamstown Exchange Bank, which area encompasses three small

towns south of Reading. They are Reamstown, Ephrata, and Denver, Pennsylvania.

Applicant is one of three banks competing within the Reading service area. With

its 11 offices and $189 million in assets, applicant controls over 54 percent of

the banking business in its service area. The acquired bank, with 8 percent of the

banking business, is the smallest of four local commercial banks operating within

its service area. By combining the service area of the applicant and the acquired

bank, it is noted that applicant is still the largest bank and comprises 48.5 percent

of the market and that the acquired bank remains the smallest bank and comprises but 0.6 percent of the market. Viewed on this basis it would appear that

only a degree of competition is affected by the acquisition. But the effect of the

merger on competition in the northeast section of Lancaster County, Pennsylvania,

the service area of the acquired bank, may be adverse since a branch of a bank

with total assets more than four times greater than the combined total of assets

of the three remaining local banks is brought into the market. Not only may the

applicant, because of its size, be able to dominate banking within this area, but also

this merger may serve as a precedent for future acquisitions within this service

area, so that all local banks may be eliminated. On the basis of this analysis, it would

appear that the effect of this merger on competition may be adverse.

Basis for Corporation approval, April 18, 1963

The service area of Berks County Trust Company comprises all of Berks County

and does not extend to any significant degree into the service area of Reamstown

Exchange Bank which is confined to a small area surrounding Reamstown in the

northeastern part of Lancaster County. Hence, there is little, if any, competition

between the two banks that will be eliminated as a result of the merger. Berks

County Trust is already by far the largest bank in Reading, as well as Berks

County, and this position has been attained largely through aggressiveness which

dealt not only with banking matters but with the promotion and betterment of the

community as well. The addition of the one office and relatively modest resources

of Reamstown Exchange Bank to Berks County Trust’s operations will not affect

competition in Berks County where all of the latter’s present ten offices are located.

Any competitive effects of the merger will be felt in the northeastern section of

Lancaster County, more particularly the Reamstown area, and here the merger

should tend to stimulate competition with the other larger banks in that part of the

county as well as with the substantially larger banks in the city of Lancaster (20

miles southwest of Reamstown), the seat and principal trading center of Lancaster

County.

The entry of Berks County Trust into Reamstown and northeastern Lancaster

County where it is not now represented will provide that area with a much broader

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 89

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssu m pt io n of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

range of banking services than are now being provided by the unit Reamstown

Exchange Bank. There is no tendency toward monopoly involved, and in view of

the improved banking services that would obtain in the Reamstown area, together

with the solution of a pressing management problem at Reamstown Exchange Bank,

it was concluded that the merger would be in the public interest.

No. 8 —Lake County State Bank,

Baldwin, Michigan (change of title to 3,532 1 3

Lake-Osceola State Bank)

to merge with

Luther State Bank,

Luther 1,737 2

Summary report by Attorney General, February 15,1963

The Lake County Bank, with total assets of $3,531,500, total deposits of $3,102,200,

and net loans and discounts of $1,859,100, proposes to absorb the two banking offices

of the Luther State Bank. The latter bank has total assets of $1,736,700, total

deposits of $1,557,400, and net loans and discounts of $747,900. The banks are, at

the present time, independent in form only as there is a large percentage of common

ownership and management.

The merger would result in a single banking system serving Lake County and

would solidify the relationship between the banks to the point where a separation

by a stock sale and the resumption of effective competition would be virtually

impossible. However, in view of the lack of competition between the merging

banks and their relatively small size, the effect on competition would not be

significantly adverse.

Basis for Corporation approval, April 25, 1963

The two banks involved in this proposal are the only two banks in Lake County,

Michigan although they serve essentially different service areas, and there is

virtually no competition between them that would be eliminated as a result of the

consolidation. Lake County is sparsely populated, with approximately four-fifths

of its land area in woodland; hence, its needs can be adequately served by one

bank. There will be no reduction in the number of banking offices, so that no impairment should occur in convenience and service to the public. Competition is

provided to a degree by much larger banks in counties surrounding Lake County,

and the more aggressive policies of the applicant and the larger resources of the

resulting bank should tend to increase, somewhat, competition with these banks.

Both banks have been affiliated for many years through common ownership by

five shareholders, who own 71.4 percent of the outstanding stock of the applicant

and 73.8 percent of the stock of Luther Bank, and three of these five shareholders

serve on the five-member board of the applicant as well as the seven-member board

of Luther Bank. It appears, therefore, that the consolidation would merely formalize an existing relationship and state of affairs.

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

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation , A cquisition

of A ssets or A ssu m p t io n of L iabilities A pproved by t h e C orporation

D u rin g 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

There appears to be no tendency toward monopoly involved, and in view of the

benefits which will accrue to the residents of Lake County as a result of the

consolidation and the more effective competition that the resulting bank will be able

to provide its larger competitors, it is concluded that the proposal is in the

public interest.

No. 9—Litchfield State Savings Bank,

Litchfield, Michigan 3,450 2 3

to consolidate with

The First State Bank of Camden,

Camden 1,427 1

Summary report by Attorney General, March 21, 1963

The Department of Justice is of the opinion that the proposed consolidation

would not have an adverse effect on competition.

Litchfield State Savings Bank has assets of $3,450,000, deposits of $3,094,000, and

loans of $1,663,000. Its head office is in Litchfield, Michigan, which has a population

of 993 persons, and it has one branch in Hanover, Michigan, 15 miles northeast of

Litchfield. The First State Bank of Camden is located in Camden, Michigan, which

has a population of 434 and is 22 miles south of Litchfield. The Camden bank has

assets of $1,427,000, deposits of $1,253,000, and loans of $767,000. Each of the consolidating banks has recorded substantial growth in the past decade without benefit

of mergers or other acquisitions.

Because of the rural character and sparse population of the areas served by the

consolidating banks, each is in large part isolated from competition in its main

service area, and there is little if any competition between the applicants. Therefore, execution of the proposed consolidation would not appear to have the effect of

eliminating substantial competition between the merging banks. The resulting bank

would still be substantially smaller than five of the other seven banks which derive

some banking business from the main areas now served by the consolidating banks,

and the remaining two institutions would each be about 70 percent of the size

of the resulting bank.

Basis for Corporation approval, May 17, 1963

The proposed consolidation involves two small banks operating in southern

Michigan, just north of the Indiana-Ohio lines. The banks have been commonly

owned and managed since the beginning of the year. However, the main offices of

the two banks are 22 miles apart and there was no significant competition between

them even before they became commonly owned.

The consolidating banks are the smallest of six banks operating in their service

areas and, although the relative competitive ability of the consolidating banks will

be slightly enhanced, the resulting bank will still be the smallest bank in the

combined service area.

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 91

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation. A cquisition

of A ssets or A s su m p t io n of L iabilities A pproved by t h e C orporation

D u rin g 1963— Continued

Name of bank, and type of transaction1 

(in chronological order of determination)

Banking offices

Resources

(in

thousands In To be

of dollars) operation operated

The consolidation, which will result in increased competition, will bring larger

lending limits and broader banking services to the service areas of both banks, but

particularly to the Camden area, and, thus, is concluded to be in the public interest.

No. 10—Hamlin Bank and Trust Company, 

Smethport, Pennsylvania 8,217 2 4

to merge with

Kane Bank and Trust Company, 

Kane

j

! 8,163 2

Summary report by Attorney General, May 9,1963

The proposed merger of the Hamlin Bank and Trust Company, Smethport, Pennsylvania and the Kane Bank and Trust Company, Kane, Pennsylvania would not

appear to have a significant adverse effect upon competition in the affected area

since the extensive interlocking of stockholders and directors between the two

banks would appear to compromise whatever independent competitive activity they

would otherwise manifest. Moreover, they are located in towns several miles apart

and compete with much larger banks.

Basis for Corporation approval, June 14, 1963

Both banks in this proposal are located in McKean County, Pennsylvania, a

sparsely populated section of the State in which, due to the hilly and heavily

forested terrain, there is limited growth potential, except possibly in the field of

recreational facilities. Kane is situated 26 miles southwest of Smethport and the

only overlapping of the service areas of the two banks occurs on the highway

leading from Kane to Mount Jewett, where Hamlin Bank has a branch, a distance

of 11 miles. However, the amount of business each bank derives from the

service area of the other is modest in relation to total volume and it appears that

there is no significant competition which would be eliminated as a result of the

merger.

The Hamlin Bank and Kane Bank, which are about equal in size, are presently

the two smallest of four banks competing in the combined service areas (McKean

County), being approximately one-seventh the size of their largest competitor,

The Warren National Bank, Warren, which has a branch in Kane. The second

largest bank operating in the area, Producers Bank and Trust Company, Bradford,

is approximately three-fifths larger than either Hamlin Bank or Kane Bank and it

operates a branch at Smethport. The bank to result from this merger would be

slightly more than one-fifth larger than Producers Bank but still substantially

smaller than the Warren Bank, less than one-third its size. With only limited growth

potential in prospect for the area, it appears that the merger would result in a better

balanced banking structure in McKean County and tend to increase competition.

The merger of the two banks would solve a management problem now facing

Kane Bank and would permit greater efficiency in operations for both banks.

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

T a b le 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A s su m pt io n of L iabilities A pproved by t h e C orporation

D u rin g 1963— Continued

Banking offices

Resources

Name of bank, and type of transaction1 (in

(in chronological order of determination) thousands In To be

of dollars) operation operated

Probably most important, however, is that the merger would enable the resulting

bank to challenge more effectively the two larger banks in the area, especially the

Kane Branch of the Warren National Bank.

There is no tendency toward monopoly involved, and in view of the improved

banking services that would obtain in the area, more particularly Kane, together

with the solution of the management problem now facing Kane Bank, is concluded that the merger would be in the public interest.

No. 11—Adairville Banking Company,

Adairville, Kentucky 764 1 1

to acquire the assets and assume

liabilities of

The Peoples Bank,

Adairville 835 1

Summary report by Attorney General, April 10,1963

While both banks are located in the same city, they are very small institutions,

and the chairman of the board of the acquiring bank has a substantial stock

holding in the acquired bank. Other banks in nearby towns appear to be in a

position to serve some of the needs of the people in Adairville. On balance, therefore, it does not appear that the proposed transaction will have an adverse effect

on competition to a significant degree.

Basis for Corporation approval, June 26, 1963

The small community of Adairville, which depends largely on agricultural pursuits for its support, has shown little growth from a population or economic standpoint. Both of the participating banks are small, and their total resources and legal

lending limits preclude financing of many moderate local credit demands. For this

reason, a sizable portion of the local potential banking business has been attracted

to banks in the neighboring towns. The demise of the executive officer of long standing at Peoples Bank in 1962, created a management problem at the bank, since its

size and relatively small earnings preclude employment of a satisfactory replacement.

Although consummation of the proposal will eliminate one of the local banks, the

resulting bank with its expanded resources and larger lending limits should be in

a position to more adequately serve local needs and to compete more effectively

in its service area. Furthermore, the management succession problem confronting

Peoples Bank will be satisfactorily resolved. There will be no tendency toward

monopoly as the resulting bank will still be the smallest of the five commercial

banks competing in its service area from the standpoint of both size and lending

capacity. Therefore, it is concluded that subject proposal will be beneficial to the

public interest.

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Federal Reserve Bank of St. Louis
BANK ABSORPTIONS APPROVED BY THE CORPORATION 93

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

No. 12—State Bank and Trust Company, 

Greenwood, South Carolina 67,682 2 0 2 1

to merge with

The Bank of Barnwell, 

Barnwell 4,270 1

Summary report by Attorney General, May 24, 1963

The applicant is one of the largest banks operating in the State of South

Carolina, having 20 offices and over $67 million in total assets. By merging the

Bank of Barnwell, applicant will eliminate the only bank serving the Barnwell,

South Carolina area and will add a sixth independent bank to its list of acquisitions

throughout the State during the past 10 years. This elimination is merely another

in a series of eliminations of independent banks by state-wide chains in South

Carolina. Therefore, the effect of the merger on competition may be adverse.

Basis for Corporation approval, June 26,1963

State Bank operates 20 offices over an area of South Carolina that extends

westward and southwestward from Columbia, the capital and approximate geographic center of the State. It is the fourth largest bank in the State and competes

with the three largest at several locations, principally Columbia and Anderson. The

Barnwell Bank operates only one office and its relatively small service area is

limited to Barnwell and the territory immediately surrounding in the centralsouthwestern section of the State. There is no overlapping of the service areas and

it was determined that there is no competition between the two banks that would

be eliminated as a result of the merger.

Of the aggregate IPC deposits held by all banks on December 31, 1962 with

which State Bank is in direct competition, it held 10.7 percent, as compared to more

than 45 percent held by the largest bank and nearly 25 percent by the second

largest. Following the merger, State Bank will hold 11.3 percent of the total, based

on December 31st figures, and its position as the State’s fourth largest bank will not

be changed. Also, except for a modest increase in its lending limit, there will be no

significant change in its present competitive ability. The principal competitive

effects of the merger will occur in the Barnwell area where the Barnwell Bank is

the largest among six banks, though not significantly larger than the second and

third largest. The entry of the applicant into this area should tend to stimulate

competition among the banks represented there, all of which are firmly established.

The chief executive officers of these banks offered no objections to the proposal.

Three of Barnwell Bank’s four directors, owning 94.5 percent of its outstanding

stock, are also directors of State Bank, and their decision to merge with the latter

in order to provide for continuity of management and to bring improved banking

services to the Barnwell community was a logical step. The improved services in

Barnwell will be realized principally from an agricultural department, trust

facilities, and an enlarged lending limit.

There is no tendency toward monopoly involved and it is concluded that the

merger would be in the public interest.

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

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssumption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

No. 13—The Lucas County Bank,

Toledo, Ohio (change title to 24,241 4 7

The Lucas County State Bank) 

to merge with

The State Bank of Toledo Company, 

Toledo 14,941 3

Summary report by Attorney General, May 8,1963

Commercial banking in Toledo is presently carried on by six institutions. The

three largest banks have a total of 92.6 percent of the IPC demand deposits,

85.1 percent of the IPC time deposits, and 88.2 percent of the loans held by the

six banks. The merging banks are presently the smallest of these six, having in

combination 4.6 percent of the IPC demand deposits, 7.9 percent of the IPC

time deposits, and 6.8 percent of the loans held by the six area banks. The resulting

bank will be substantially smaller than the three largest banks and only slightly

larger than the bank presently fourth in size.

Both the downtown area, where the head offices of the merging banks are

located, and the outlying areas will continue to have alternative banking sources

after the merger. In view of the size of the three largest banks in relation to the

merging banks, and the relatively minor displacement the merger will have on the

existing banking structure in the area, we believe the proposed merger will have

adverse effects on competition but not to a substantial degree.

Basis for Corporation approval, June 26, 1963

The merger of The Lucas County Bank and The State Bank of Toledo will

reduce the number of banks operating in the Toledo area from six to five but will

not reduce the number of banking offices (45), or affect the availability of banking

services. The merging banks are the two smallest banks in Toledo, being far overshadowed by the three largest which in the aggregate hold approximately 90

percent of the IPC deposits held by all banks in the area. The Lucas County

Bank and State Bank, since their inception, have specialized in consumer financing

and have competed chiefly in this field; however, the elimination of this competition will not have significant competitive effects because the larger Toledo

banks also operate consumer loan departments which compete vigorously for this

type business.

Following the merger the resulting bank will be the second smallest of five

banks remaining in the service area. With a much larger lending limit, the feasibility

of automation, and other improvements in facilities and services, the merged bank

will be better able to compete with the three much larger banks in Toledo.

It is concluded, in view of the stronger competitive ability the merged bank

will have, and the resultant improvement in its facilities and services, with no

tendency toward monopoly involved, the merger would be in the public interest.

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Federal Reserve Bank of St. Louis
BANK ABSORPTIONS APPROVED BY THE CORPORATION 95

T able 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssumption of L iabilities A pproved by the C orporation

D uring 1963—Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

No. 14—Bank of Crewe,

Crewe, Virginia 6,388 2 2

to merge with

The National Bank of Crewe, 

Crewe 1 , 8 8 8 1

Summary report by Attorney General, May 27,1963

The proposed merger must be viewed in light of the recent changes made in

Virginia’s Branch Banking Law by the 1962 Session of the Virginia General

Assembly. These changes permit a bank to operate in several counties and to

acquire banks located in other counties. It is expected that the new amendments

will drastically change the banking situation in Virginia.

The essence of the proposed merger is that two rural banks located about 50

miles southwest of Richmond and about 45 miles west of Petersburg propose to

merge in order to retain complete local ownership and management. The merger

would of course eliminate all competition between two competing banks but other

banks remain to serve the general area in which these banks operate. It does

appear, therefore, that the proposed merger would have an adverse effect upon

competition in the area but not to a substantial degree.

Basis for Corporation approval, June 26, 1963

This proposal will combine the fourth largest with the smallest of 11 banks in

the Crewe service area, resulting in a bank which will be third largest among

ten, when measured in terms of IPC deposits. The main office quarters of the two

banks are adjoining and following the merger will be combined into one unit,

because the present quarters of each bank are inadequate and separate remodeling is not feasible. Although the existing competition between the two banks will

be eliminated as a result of the proposal, National has been rather ineffective

in this respect in the past, as indicated by its lack of growth in recent years, compared to the steady growth of the applicant, which has been an aggressive competitor with the other banks in the area.

The town of Crewe has a population of only about 2,000 which has been declining in recent years. It is located in an area that is classified as “depressed,” and

one which is in danger of losing its principal industry. Agricultural production

in the rural areas is also declining, and these economic factors have hampered

the earning capacity of the two banks, especially National. The merged institution will be able to improve this situation through economies in operation and

improved banking quarters. Moreover, a complete and separate consumer loan

department will be operated and a farm department will be installed. The present

loan limit of National of $12,500 is the smallest in the area and has been inadequate, both as to service and competitiveness, whereas the loan limit of the

resulting bank will be $78,000.

It is concluded that these advantages, as measured by the banking factors, outweigh any disadvantages that may result from the elimination of the limited

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

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssumption of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

amount of competition provided by the small bank. The area of competition is

not limited to the small town of Crewe alone, but extends over a much broader

area, which includes three banks larger than the applicant. The resulting bank

which will rank third, holding less than 15 percent of the IPC deposits held by

the banks in the area, will provide increased competition to others in the area.

There appears to be no need for two banks in Crewe, especially when its economy

is declining, and it is believed that the stronger bank which will emerge from

this proposal can better serve the community.

With numerous alternate banking locations easily accessible, there is no tendency

toward monopoly involved, and it is concluded the merger is in the public interest.

No. 15—The Reeves Banking & Trust Company,

Dover, Ohio 28,996 6 8

to merge with

The Citizens National Bank of New Philadelphia,

New Philadelphia

12,409 2

Summary report by Attorney General, January 31,1963

There is substantial actual and potential competition between the largest and

third largest of five banks in these twin cities which would be eliminated by the

merger. It seems apparent that a concentration of banking facilities would be

encouraged and that the resulting bank would enjoy a position of dominance in

the area. Consequently the effect of this merger on competition would be seriously

adverse.

Basis for Corporation approval, July 5,1963

The applicant and Citizens National are located in the twin cities of Dover-New

Philadelphia in northeastern Ohio, approximately 25 miles southeast of Canton

and 40 miles south of Akron. The banks rank first and third, respectively among

the five banks operating in the two cities. The merger is prompted because of

the absence of management succession at Citizens National where the President is

72 years old. Attempts to solve the problem by hiring management from outside

the bank and through merger with other banks in Dover-New Philadelphia have

been unsuccessful. This transaction appears to be the most practical solution to

the problem.

The record of the applicant as a leader in the introduction of new services and

banking facilities in the area, including consumer lending, expanded trust facilities,

and drive-in and parking accommodations, demonstrates its ability and willingness

to fulfill its responsibilities to the community. Although both Dover and New

Philadelphia have a well diversified industrial base, the clay pipe industry and strip

coal mining, once thriving activities in the southern part of Tuscarawas County,

are moribund and attendant unemployment is heavy. The larger resources of the

applicant with its aggressive and progressive policies should enable it, more efDigitized for FRASER 

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Federal Reserve Bank of St. Louis
BANK ABSORPTIONS APPROVED BY THE CORPORATION 97

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssumption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

fectively than could a combination of smaller banks, to attract and support new

industry needed for the economic revival of the area.

Although some competition between the merging banks will be eliminated as a

result of the merger, concern is mitigated in view of the very conservative policies

of Citizens National— the ratio of its loans to assets is by far the smallest of the

five banks in the area and only recently has it seriously solicited instalment loans.

Another factor diminishing concern about the elimination of Citizens National is

that in Dover-New Philadelphia, the population per bank is 5,100, after the merger

it would be 6,400, as compared to 16,800 per bank for the State of Ohio. Further,

the net earnings of the five banks in the area range from approximately one-half

to slightly less than two-thirds the average for all insured banks in Ohio. The

three other remaining banks in the area, all well established, expect to compete

successfully with the applicant. Since time deposits represent approximately threefifths of the aggregate deposits held by the five banks in the twin cities, the banks

are subject to strong competition from two savings and loan associations in Dover,

one in New Philadelphia and three others in Tuscarawas County. The larger resources of the applicant should also enable it to provide more effective competition to the three larger banks in Canton which solicit business in Tuscarawas

County.

In view of the competition that will remain among the banks in the area, as

well as that offered by the savings and loan associations, no tendency toward

monopoly is indicated. It is concluded that the merger which will solve the

management problem at Citizens National and enable the applicant to attract

and support needed industrial expansion is in the public interest.

No. 16—The Northwestern Rank,

North Wilkesboro, North Carolina 166,452 48 49

to merge uith

The Bank of Burlington,

Burlington 2,691 1

Summary report by Attorney General, May 31,1963

Northwestern Bank operates 33 of the 62 banking offices located in its primary

service area which comprises the greater portion of western North Carolina and

during the past several years has pursued a policy of expansion.

The Bank of Burlington is a small bank facing competition from some of the

largest banks in North Carolina but not from Northwestern Bank. Thus the proposed merger would not have substantial competitive effects. However, it does

represent another step in the elimination of small banks in North Carolina by

means of acquisitions on the part of the few large banks in the State.

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

Table 1 01 . D escription of E ach M erger. C onsolidation, A cquisition

of A ssets or A ssum ption of Liabilities A pproved by the C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

Basis for Corporation approval, July 11,1963

Northwestern operates a branch system consisting of 48 offices which serve

western, northwestern and central North Carolina, from Madison on the east to

Asheville on the west. Its closest office to Burlington Bank is at Madison, some

50 miles to the northwest of Burlington. There are no depositors or borrowers

using the facilities of both banks and neither bank derives business from the

service area of the other; hence, there is no competition between them that will

be eliminated as a result of the proposal.

Northwestern, ranking as North Carolina’s fifth largest bank, both as to total

deposits and number of banking offices, holds 4.3 percent of the aggregate deposits

held by all banks in the State. It is in direct competition at various locations with

the State’s four largest banks, which respectively hold 23.1 percent, 16.1 percent,

8.4 percent, and 7.9 percent of the aggregate deposits held by all banks in the

State. Northwestern’s proportionate share of the State’s total banking deposits

would be increased by less than 1 percent as a result of the merger, and aside from

a slightly increased lending limit, its competitiveness in the areas it presently serves

would remain unchanged.

Burlington Bank, with only one office, is in direct competition with five offices of

the State’s two largest banks; namely, Wachovia Bank & Trust Company and

North Carolina National Bank. Based on total deposits in the Burlington service

area, of which it holds only 5.2 percent, Burlington Bank represents a very small

portion of the competition. By replacing Burlington Bank’s sole office with a

branch of Northwestern, competition in that area would be substantially increased,

because the latter, with its much greater resources, larger lending limit, and much

broader range of banking services, is in a position to provide greater competition

to the State’s two major branch banking systems. The number of individual banks

available to the public in Burlington will not be changed. Additional services that

Northwestern can provide to the customers of Burlington Bank cover virtually

every phase of commercial banking and will include the introduction of trust department facilities, a larger lending limit, and an agricultural department which

publishes a monthly farm letter.

There is no tendency toward monopoly involved, and in view of the stronger

bank which will emerge in Burlington as a result of this proposal and its ability to

better serve the community, it is concluded that the merger is in the public interest.

No. 17—The Connecticut Bank and Trust Company,

Hartford, Connecticut 528,077 32 33

to merge with

The Union Bank and Trust Company of New London,

New London2 8,072 1

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 99

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

Summary report by Attorney General, June 26, 1963

Union is one of two relatively small banks competing with two branches of

Hartford National, Connecticut’s largest bank in New London. It also competes

to an extent with a branch of the Connecticut Bank, located in nearby Groton

and another branch of the Connecticut Bank located in Norwich, about 11 miles

north of New London. Thus a degree of competition between the merging banks

would be eliminated.

Although the merger would not materially change the position of the Connecticut Bank it would result in the elimination of one of two independent banks

in New London and leave the remaining small bank to compete on an unequal

basis with Connecticut’s two largest banks, both having entered New London by

acquiring local banks.

We are therefore of the view that the effect of the proposed merger on competition would be adverse.

Basis for Corporation approval, July 18, 1963

The merger would combine the second largest commercial bank in Connecticut,

headquartered in Hartford with total resources of $528 million, with the smaller

of two unit banks (total resources $8 million) located in New London, 45 miles

to the southeast.

The regional field of competition of the applicant would continue for the resulting bank. The applicant’s primary service area is Hartford, where it has 8 offices,

but the other 24 offices are so diffused as to cover some three-quarters of the area

of Connecticut, giving representation in 7 of the 8 counties. Its $356 million of

IPC deposits ranks second in size to the $403 million IPC deposits of Hartford

National Bank and Trust Company which has headquarters and 5 of its 29

offices in Hartford. The acquisition of Union Bank’s $5.3 million of IPC deposits

would not noticeably alter the existing size relationships on a State-wide basis,

nor in the Hartford area where the applicant would remain slightly smaller than

the State’s largest commercial bank. The proposal will extend the applicant’s

service area into New London where the Hartford National Bank and Trust

previously acquired 2 branches by mergers and where these offices now hold almost

two-thirds of the aggregate IPC deposits of New London’s commercial offices.

The applicant is presently barred from de novo branching into New London

under State law.

Union Bank has not demonstrated the same degree of ability as The Winthrop

Bank and Trust Company of New London to compete with the existing branches of

the large out-of-town commercial bank. The directors of Union Bank seek this

merger as a solution to a problem of management succession, as well as a means

of enhancing its capacity for equitable competition by enlarging both commercial

and trust services. As a branch of the applicant, Union Bank would have insured

status and expanded deposit services to include time and savings accounts; greater

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

Table 101. D escription of E ach M erger, Consolidation, A cquisition

of A ssets or A ssumption of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

capacity for lending, including consumer credit which is not presently being

developed; and a broader range of trust services.

The banks proposing to merge are located in separate primary service areas with

the nearest office of the applicant being 5 miles distant from Union Bank in an

area of dense population. Thus, any existing competition between the participating

banks to be eliminated by this proposal would be minimal. In addition to solving

several specific problems of Union Bank involving banking factors, the proposal

should increase banking competition in the New London area but in the broader

areas would have no noticeable effect and, thus is concluded to be in the public

interest.

No. 18—Bank of Louisville,

Louisville, Kentucky (change title to Bank of Louisville- 28,890 5 1 2

Royal Bank and Trust Company)

to merge with

Royal Bank and Trust Company,

Louisville 50,259 7

Summary report by Attorney General, July 8, 1963

The proposed merger of the Bank of Louisville, Louisville, Kentucky and the

Royal Bank and Trust Company, Louisville, Kentucky would have a significant

adverse effect upon competition in the Jefferson County, Kentucky area.

An important banking source to the small individual and business banking customer would be eliminated by the merger .The present high concentration in commercial banking in the area would be augmented. Competition between the banks

would be eliminated. Finally, the two small remaining banks may decide to unite

with each other or other banks to effectively compete.

Basis for Corporation approval, August 1,1963

This proposal involves the merger of the Royal Bank and Trust Company, the

fifth largest of the nine banks in the Jefferson County service area, into the Bank

of Louisville, the sixth largest. The resulting bank will be the county’s fifth largest

institution, holding an indicated 7.2 percent of IPC deposits and considerably

smaller than the next largest bank, holding 11.4 percent. Royal’s seven existing

offices, plus one approved but not yet opened branch, will be continued as branches

of Louisville Bank which presently operates five offices.

Both of the participating banks had their origin in industrial banking and have

gradually widened their operations to encompass full commercial powers, although

Royal remains largely specialized in the consumer field, some 60 percent of its loans

being of the instalment type as compared to Louisville Bank’s 43 percent. Instalment lending, nevertheless, is common in local banks and there are, furthermore,

numerous non-bank institutions in the area which extend such loans, indicating that

there will remain ample alternative sources of such credit in the community. Branch

banking by all but one of the downtown banks is such that all serve virtually every

part of the county, and the two banks participating in this merger presently compete

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Federal Reserve Bank of St. Louis
BANK ABSORPTIONS APPROVED BY THE CORPORATION 101

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

throughout the area, however, to a limited degree. Louisville Bank is faced with a

management continuity problem which the proposal to merge is in part designed to

solve. The proximity of alternate banking locations and the practical effect of the

proposed merger which would place two of the county’s smaller banks on a more

competitive footing with its four larger banks, thus enabling better service to the

rapidly expanding economy strongly suggest the proposal to be in the public interest.

No. 19—The Equitable Trust Company,

Baltimore, Maryland 268,765 34 39

to merge with

The First National Bank of Aberdeen,

Aberdeen 15,260 5

Summary report by Attorney General, June 20, 1963

There is no significant competition between the Equitable Trust Company, Baltimore, Maryland, and The First National Bank of Aberdeen, Aberdeen, Maryland.

The merger, if approved, will not materially change the competitive picture in the

service area of the acquiring bank. The competitive effect upon the service area of

the acquired bank, however, would be adverse since the small independent banks

now operating there would be unable to compete with an institution of the size of

the resulting bank.

This merger is but the latest of a series of mergers by the large Baltimore banks,

applicant being one such bank, which, if continued, will leave the banking resources

of the State of Maryland in the hands of a few large banks.

The effect of this proposed merger on competition is therefore adverse.

Basis for Corporation approval, August 1, 1963

This proposal would combine two insured banks located approximately 26 miles

apart along the principal roadway between Baltimore and New York City. Equitable, which has 28 offices in Baltimore and Baltimore County, is and will continue

to be the fourth largest bank in the metropolitan area where the subject proposal

should have little effect on competition. This institution is less than half the size

of its largest competitor and significantly smaller than the two next larger banks.

In Aberdeen and the Harford County service area of First National, however, the

entry of the larger Equitable will bring with it a substantially higher lending limit

than is now available and trust powers and other services not now obtainable on a

local basis. The resulting bank will be in a better position to support the economic

expansion forecast for this area. None of the competing banks has expressed any

opposition to this proposal. Since alternative banking sources are available, and

increasing in number, there appears to be no tendency toward monopoly.

The improved and additional banking services to be offered in the service area

of First National warrant a finding that this proposal is in the public interest.

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

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

No. 20—First Seneca Bank and Trust Company, 

Oil City, Pennsylvania 72,241 9 11

to acquire the assets and assume

liabilities of

First National Bank in Sharon, 

Sharon 17,621 2

Summary report by Attorney General, June 20, 1963

While the competitive effect of the proposed acquisition would not seem to be

adverse in and of itself, viewed in the light of First Seneca’s acquisition of eight

other banks in the past ten years, the acquisition will have an adverse effect on

competition.

Basis for Corporation approval, August 1, 1963

The First Seneca Bank and Trust Company is headquartered in Oil City, near

the center of Venango County, but has five offices in Clarion County to the eastsoutheast, and three offices in Mercer County to the west. Its field of competition

is regional throughout most of this tri-county area of northwestern Pennsylvania.

It proposes to acquire the two offices and $15 million of deposits of The First National Bank in Sharon, which serves a relatively narrow area in the southwest portion of Mercer County, and where First Seneca Bank has no office representation.

The two participants to the proposal represent the first and sixth largest of

17 banks having main offices within the three counties. The acquisition will

raise First Seneca Bank’s proportion of aggregate IPC deposits and loans of these

banks to 27.7 percent and 24.3 percent respectively. Although the proposal will thus

enhance a prominent size position, the second largest bank in this broad area with

19 percent of aggregate IPC deposits and 20.2 percent of aggregate loans will continue to represent a source of keen competition. The other 14 banks of the

area also offer alternative choices for banking at convenient locations which represent competition to First Seneca Bank in numerous communities and negate any

tendency toward monopoly. It is therefore concluded that the impact of the proposal on the broad area involved would not significantly change the banking structure or tend to lessen competition.

The main office locations of the participating banks are about 55 miles apart

and the nearest offices are at least 15 miles apart. These distances result in an

absence of any common deposit or loan business and neither bank claims to

originate any business in the other’s service area. Thus, there is little if any existing

competition between the participating banks to be eliminated by this proposal.

The introduction of First Seneca Bank with total resources of about $90 million

into the Sharon area would significantly alter the existing size relationships in that

region. The branches to result from this proposal would offer competition to the two

other Sharon banks having total resources of $35 million and $16 million respectively.

Despite this size disparity, these remaining banks appear of sufficient size and aggressiveness to continue effective competition. Moreover, First Seneca Bank will bring

its greater lending capacity and larger individual loan limit to that area, wherein

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 103

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

industrial expansion is creating credit requirements too large for local banks to fulfill. These resulting branches in Sharon will also pay a 3 percent interest rate

on savings instead of the 2 percent now paid by First National Bank in Sharon.

It is believed that First Seneca Bank’s operations will intensify competition in the

Sharon area and benefit the public through more complete commercial banking and

trust services.

No. 21—The New York Savings Bank,

New York, New York (change title to 472,740 4 9

The New York Bank for Savings, and

change head office from 81 Eighth Avenue to

280 Park Avenue South, New York)

to merge with

The Bank for Savings in the City of New York,

New York 769,474 5

Summary report by Attorney General, June 10, 1963

The proposed merger would create a savings bank which would be the fourth

largest in the United States, the third largest in the City of New York, and the

second largest in the Borough of Manhattan. Its savings deposits would be over

four times as large as those of the largest savings and loan association in New York

City and larger than those of any commercial bank in the city except one, the First

National City.

We believe that the proposed merger, if accomplished, would have serious adverse

effects on competition among savings banks in New York City, would eliminate

substantial competition between the merging banks, would result in a substantial

increase in the concentration of deposits and loans held by the merging banks, and

may lead to further mergers as the result of attempts by competitors to recoup the

competitive status which they would lose as a result of this merger.

It is our opinion that the anticompetitive effects of the proposed merger are so

substantial as to militate strongly against approval of the application.

Basis for Corporation approval, August 9,1963

This merger involves The New York Savings Bank, with $414.5 million in deposits

and four offices, and The Bank for Savings, with $687.5 million in deposits and five

offices. All offices of the merging banks are located in the Borough of Manhattan

and each bank serves an area including the five boroughs which comprise New York

City. The resulting bank would operate nine offices and have over $1.1 billion in

deposits of the 186 offices presently operated by the 52 savings banks in New York

City which hold $18.9 billion in deposits. In addition to the competition existing

among the savings banks, intense competition for savings deposits is also provided

by commercial banks and savings and loan associations. The resulting bank would

hold only 5.8 percent of the savings deposits held by all savings banks in the city,

and only 3.6 percent of the total time deposits and share accounts held by the reDigitized for FRASER 

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104 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

maining 51 savings banks, the 49 commercial banks and the 155 savings and loan

associations operating in the city. The mortgage portfolio of the resulting bank,

which would comprise 78.8 percent of its gross assets and extends nation-wide, would

equal less than five percent of the over $19.5 billion of mortgages held by savings

banks in the State and a relatively insignificant percentage of the mortgages held

by the major types of financial institutions in the country. The merger would have

no significant effect upon competition in the savings and mortgage markets in which

the merging banks are competitive.

Although both banks compete in the same general service area, competition between them is limited, and results, in part, from legal restrictions as to the amount

individuals may deposit in a savings bank, and the insurance ceiling of $10,000. In

only one instance is an office of one of the merging banks in direct competition

with an office of the other, and in this case there are four offices of other savings

banks and numerous offices of commercial banks within convenient and competitive

distance. In view of the multitude of alternative banking sources provided by the

savings banks, commercial banks and savings and loan associations, elimination of

the nominal competition between the merging banks will not materially affect the

convenience of savings bank customers or materially affect competition.

The merger has been approved by the Board of Trustees of the two banks, who

consider it to be a benefit to the depositors of the banks, and by the Superintendent

of Banks for the State of New York, who has concluded that it is in the public

interest. Consummation of the merger will result in some operating economies

which will redound to the benefit of the more than 400,000 depositors of the merging

banks, who will also have the convenience of being able to do business in any of the

nine offices of the resulting bank. The mortgage emphasis of the two banks complement each other in a material way and the resulting bank, with the combined management and investment skills of the two banks, would be better able to compete

for and service the requirements for large special type mortgages. In addition, there

are vacancies in the offices of the Chief Executive Officer and Senior Mortgage Officer of the New York Savings Bank, existing since the latter part of 1962, which will

be filled as a result of the proposed merger.

Favorable findings have been made on all of the factors required to be considered

by statute, and the merger is considered to be in the public interest.

No. 22—Community Bank of Trenton, 

Trenton, Illinois 289 1

to acquire the assets and assume

liabilities of

The Farmers Bank of Trenton, 

Trenton 3,577 1

Summary report by Attorney General, July 8,1963

Because the acquiring bank has not yet commenced operations, its acquisition of

Farmers Bank, a small local bank, will have no effect on the competitive situation in

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Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

banking in Clinton County as it presently exists, but will remove the future competition to be afforded by the acquiring bank. However, because of the small size

of the banks involved and the existence of nearby competing banks the effect of the

proposed acquisition on competition will not be significantly adverse.

Basis for Corporation approval, September 5, 1963

Community Bank of Trenton is a newly organized bank which is not yet in operation. The purchase and assumption transaction between it and The Farmers Bank

of Trenton will have no significant competitive implications inasmuch as the new

bank will merely become a successor to the existing bank in the same town. Not

only will the proposal solve a pressing management problem at Farmers, but it will

enable the community of Trenton which has supported a bank for a long number of

years, to have continued uninterrupted banking services. Moreover, the purchase

and assumption transaction will give the people of Trenton the benefits of a locally

owned and managed bank. There is no tendency toward monopoly involved and it is

concluded that the transaction would be in the public interest.

No. 23—Industrial Valley Bank and Trust Company,

Jenkintown, Pennsylvania 143,501 2 1 2 2

to merge with

The National Bank of Oxford,

Oxford

7,634 1

Summary report by Attorney General, July 31, 1963

The Industrial Valley Bank and Trust Company as of December 28, 1962, had

assets of $135,838,000, deposits of $115,120,000 and loans and discounts of $77,952,000.

Its 19 banking offices serve Philadelphia and the surrounding area.

The National Bank of Oxford, as of December 28, 1962, had assets of $7,428,000,

deposits of $6,688,000 and loans and discounts of $2,757,000. There is one other

smaller bank in Oxford and four smaller banks from 8 to 12 miles distant from

Oxford. The resulting bank will completely overshadow these smaller banks in size

and they will thereafter operate at a competitive disadvantage.

The merger of The National Bank of Oxford by The Industrial Bank and Trust

Company is the fourth bank to be merged by the latter in a 3-year period. Of

the present $115,120,000 deposits of Industrial Valley Bank and Trust Company,

approximately $75 million is the result of these mergers.

The proposed merger will continue the increased trend toward concentration in

the Philadelphia area.

The effect on competition will be adverse.

Basis for Corporation approval, September 19,1963

Industrial Trust operates its main office and six branches in Montgomery County,

Pennsylvania, ten branches in Philadelphia County, where it derives its major volDigitized for FRASER 

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106 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of Liabilities A pproved by th e C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

ume of business, and four branches in Chester County. In view of the relatively

small volume of resources held by Oxford National, the increase in resources of Industrial Trust resulting from this merger would have no significant effect on banking

competition in the areas in which it presently operates.

Oxford National operates from a single location in southeastern Chester County,

Pennsylvania, approximately 70 miles from the main office of Industrial Trust in

Jenkintown. Oxford is about four miles north of the Maryland State line and about

16 miles west of the Delaware State line, on the fringe of the Delaware Valley

industrial complex. The merging banks serve different service areas, the closest

offices are 18 miles apart, and there is no indication of any significant competition

between them that would be eliminated as a result of the merger. The two banks

presently operating in Oxford have limited loan volumes, substantially predicated

upon real estate. They have not provided the range of modem services usually

expected by banking customers, and, reportedly, much of the local loan business,

particularly instalment loans, is handled by bank and non-bank lenders from outside

the immediate service area. Industrial Trust will bring to the Oxford service area

such services as trust facilities, instalment loans and construction loans, which

should facilitate its future growth as part of an important expanding industrial area.

Further, although the management of Oxford National is capable and conservative,

it lacks the succession that could be provided by Industrial Trust which has experienced management in depth.

Although the proposal represents a continuation of Industrial Trust’s expansion

through merger, it does not appear that consummation of the merger would have

an adverse effect on competition, nor does it represent a tendency toward monopoly.

It is concluded that the merger which will bring a broader range of modern banking

services to the Oxford service area without any adverse effects on banking competition is in the public interest.

No. 24—Bank of Horton,

Horton, Kansas 1,845 1 1

to acquire the assets and, assume

liabilities of

Home State Bank,

Horton 1,292 1

Summary report by Attorney General, August 20,1963

It appears from the nature of the area that the two small banks involved in this

proposal have their principal business activity in the town of Horton and its immediate vicinity, and that each bank is the principal competitor of the other. The

proposed transaction would change Horton, Kansas, from a town in which there

were two banks in effective competition with each other to a one-bank town, a

monopoly so far as local banking is concerned. It is therefore concluded that as a

result of the proposed acquisition, competition in commercial banking would be

adversely affected in Horton, Kansas.

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 107

Table 101. D escription op Each M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

Basis for Corporation approval, September 19, 1963

The two relatively small banks involved in this proposal are located less than

one block from each other in Horton, Kansas. However, competition between them

is weak and produces little, if any, benefit to the community, because both banks

have lacked aggressiveness in competing with each other, as well as with other

banks in the service area. Neither bank pays interest on time deposits and the

controlling interests of the two banks are very friendly. Since 1954 the aggregate

deposits held by ten banks in the primary service area have increased approximately

30 percent, while deposits in the two Horton banks have declined. The economy

of Horton, both agricultural and industrial, has been in a declining trend in recent

years, as has also the population of the service area; consequently, the need for

two banks in Horton has been lessened.

Eight other banks will remain in the primary service area and will provide

active competition to the remaining bank in Horton, particularly the two banks

in Hiawatha, the county seat and principal trading center. Hiawatha is just 13

miles from Horton and its two banks hold nearly one-half of the aggregate IPC

deposits and loans held by the ten banks in the area, as compared to less than 15

percent that will be held by Bank of Horton following the acquisition. Moreover,

taking in a slightly broader area, there are 22 banks in 15 towns, the farthest

from Horton being 31 miles, and there are adequate roads by which these banks

can easily be reached. The stronger bank that would result from this acquisition will

be in a much better financial position, competitively, with respect to the other area

banks, and its increased financial standing and larger lending capacity will enable

it to better serve the credit needs of some of its larger customers in the Horton

community.

Home State Bank has lost its executive officer and, with no qualified replacement, the acquisition provides a ready solution to that problem.

It is concluded that these advantages outweigh any possible disadvantage that

would result from the elimination of the limited amount of competition between

the two Horton banks. The area of competition is not limited to the small town of

Horton alone, but extends over a much broader area in which numerous alternate

banking locations are easily accessible. There appears to be no tendency toward

monopoly, and in view of the advantages that will accrue to the public in Horton,

it is concluded that the transaction would be in the public interest.

No. 25—The Central Jersey Bank and Trust Company,

Freehold, New Jersey 94,508 1 1 13

to merge with

The Matawan Bank,

Matawan 7,839 2

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108 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssumption of Liabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

Summary report by Attorney General, September 20, 1963

The proposed merger of The Central Jersey Bank and Trust Company, Freehold, New Jersey, and The Matawan Bank, Matawan, New Jersey, would have a

significantly adverse effect upon competition.

The proposed merger would eliminate a small, well-managed bank as an independent banking facility; would continue Central’s expansion through the acquisition of other banks; would place in jeopardy the continued existence as independent facilities those small banks in the Matawan, New Jersey area; and would

continue the merger trend in the commercial banking industry in Monmouth

County, New Jersey, as noted on three prior occasions involving Central by the

Department of Justice.

Basis for Corporation approval, October 31, 1963

The service area involved in this proposal is confined primarily to Monmouth

County, New Jersey, in which there presently are 11 banks, among which the

applicant and The Matawan Bank are second and tenth largest, respectively. The

service area of the applicant covers the entire county, whereas that of Matawan

Bank is limited to a small area around Matawan and Marlboro Townships which

are contiguous. Among the 11 banks in Monmouth County, Matawan Bank

holds 1.7 percent of the aggregate IPC deposits and loans, the applicant holds

slightly less than one-fifth in each category, and the largest bank holds 27.3 percent and 30.3 percent, in each category, respectively. The third largest bank holds

18.6 percent of the aggregate IPC deposits and 21.4 percent of the loans. The

addition of the relatively modest volume held by Matawan Bank to that of the

applicant would have no significant competitive effects at the present locations

of the applicant’s 11 offices. Its nearest office to Matawan is its main office in

Freehold, eleven and one-half miles south, and it was determined that there

is no significant competition between the two banks which would be eliminated.

The number of accounts common to both banks is nominal and the applicant

derives no significant amount of business from the Matawan-Marlboro service

area. The largest and fourth largest banks in Monmouth County, within the past

two months, effected mergers with the then seventh and sixth largest banks,

respectively.

The Matawan Bank is located within one mile of the Middlesex County line

where it competes with substantially larger banks in Perth Amboy, South Amboy,

Fords, Madison Township, and South River, all in Middlesex County. In addition,

it is in direct competition with a branch of Monmouth County’s largest bank,

one and one-half miles distant, and a branch of the third largest bank, four

miles distant. Another local bank in Matawan is more than twice the size of

Matawan Bank. In this respect, the substitution of two branches of the applicant

for the two offices of Matawan Bank would result in increased competition for

the much larger banks with which the latter competes.

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 109

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

There are significant benefits which would result from the merger, particularly

with respect to Matawan Bank and the Matawan service area. Operating earnings

of Matawan Bank have been considerably below average over the past three years,

and it presently is faced with a pressing management problem' as a result of the

serious illness of its chief executive officer, without adequate provision having

been made for management succession. The merger with the applicant would cure

both these problems. Moreover, the credit policies of Matawan Bank have been

very conservative over the past, whereas those of the applicant are much more

progressive. The applicant will bring much broader and more modem banking

facilities to the Matawan area, such as consumer credit and instalment loan

facilities not now provided by Matawan Bank, a larger lending limit, more specialization in all lending fields, trust department services, and the benefits of

central accounting and automation. In addition, the convenient locations of the

two offices of Matawan Bank will be continued.

In view of the numerous banking locations available to the public, there is no

tendency toward monopoly, and it is concluded that the merger would be in the

public interest.

No. 26—Northwest Pennsylvania Bank & Trust Co., 

Oil City, Pennsylvania 

to merge with

First National Bank in Clarion,

Clarion

61,646 

9,030

8

1

9

No. 27—Northwest Pennsylvania Bank & Trust Co., 

Oil City, Pennsylvania 70,676 9 1 2

to merge with

The First National Bank of Mercer, 

Mercer

'■m

115,582 3

Summary report by Attorney General, August 6, 1963

(cases 26 and 27)

First National Bank of Mercer conducts a general commercial banking business

through three offices in Mercer County. It has total assets of $15,582,000, total

deposits of $13,649,000, and total loans and discounts of $8,705,000. Northwest

Pennsylvania Bank & Trust Company conducts a general commercial banking

and trust business through eight offices, of which four are in Venango County,

and two each are in Clarion and Crawford Counties. It has total assets of $61,-

646,000, total deposits of $56,007,000, and total loans of $33,492,000. First National

Bank in Clarion conducts a general commercial banking business through one

office in Clarion County. It has total assets of $9,030,000, total deposits of $8,284,000,

and total loans of $4,149,000.

Oil City is about 35 miles northeast of Mercer and about 22 miles northwest of

Clarion.

The proposed merger of Northwest Pennsylvania and First National Bank in

Clarion would eliminate a substantial amount of competition between the two

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110 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 101. D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of Liabilities Approved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

Clarion County offices of Northwest and the acquired bank. The resulting bank

would hold about 45 percent of the deposits of all local offices of the five banks

with offices in the county. It would also eliminate competition between the two

banks for some of the larger deposit and loan customers in either Venango or

Clarion Counties who may now have the ability to make use of either bank.

The proposed merger of Northwest Pennsylvania and First National Bank of

Mercer would also have the effect of eliminating competition between the merging

banks for some of the larger deposit and loan customers who now have the ability

to turn to either of the merging banks.

Both mergers together would increase Northwest’s share of total deposits of all

banks with offices in the four-county area in which the resulting bank would have

offices from 15 percent to 21.3 percent, thereby moving it ahead of First Seneca

Bank & Trust Company (with 17.6 percent) as the largest bank in that area if

First Seneca’s pending application to purchase First National Bank in Sharon is

not granted. Northwest Pennsylvania has acquired five and First Seneca has acquired eight independent banks in the past decade. Five other banks in the area

have also disappeared by acquisition during that period. Further acquisitions involving some of the 19 remaining banks may be expected if this merger trend is

not stopped soon.

For the above reasons we conclude that each of the proposed mergers and both

of them together would have substantial adverse effects on competition.

Basis for Corporation approval, November 7, 1963

(cases 26 and 27)

Northwest presently serves the central and southern portions of Venango County

through four offices, the western and southern parts of Clarion County through

two offices and the central part of Crawford County with two offices. The subject

proposals will spread its influence further to the east in Clarion County by the

acquisition of Bank in Clarion’s sole office; the Bank of Mercer’s three offices in

Mercer County will be acquired where Northwest is not now represented. Northwest will increase its number of offices from' eight to twelve, or 21 percent of the

relevant service area’s total banking offices and expand its share of aggregate IPC

deposits therein from 14.4 percent to 20.5 percent. It will remain, however, the

second largest of the 19 banks that will then comprise the banking community

and which is reported to entertain keen competition.

Oil City is 28 miles northwest of Clarion and 38 miles northeast of Mercer.

Mercer is 50 miles west of Clarion. The closest offices of the subject banks are

Northwest’s Knox Branch and Bank in Clarion’s sole office which is 10 miles to

the east of Knox; furthermore an office of a competing bank is located between

Knox and Clarion. The respective service areas do not overlap and there is little

in the way of competition among the three banks that would be eliminated by

their merger.

The subject banks all reflect sound conditions, satisfactory capital protection

and at least fair earnings. Each is providing efficient banking facilities to its trade

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BANK ABSORPTIONS APPROVED BY THE CORPORATION 111

Table 101. D escription of Each M ekger, C onsolidation, A cquisition

of A ssets or A ssum ption of Liabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

area, nevertheless, Northwest’s scope of service is considerably broader and includes fiduciary activities not offered by either Bank in Clarion or Bank of Mercer.

Northwest recently suffered the loss of its highly regarded president whose untimely death left a void which could not be filled from within the remaining staff.

In this event, the president of Bank of Mercer has been named chief executive at

Northwest, an appointment which is widely expected to redound to the benefit

of Northwest and, ultimately, the resulting bank.

Clarion contains only one other banking office, a branch of the area’s largest

bank, therefore the effect of the proposed merger of Bank in Clarion and Northwest most likely would be to stimulate bank competition in the Clarion trade

area. Bank of Mercer is the only bank in Mercer, its chief competition being

represented by three, all larger, banks situated 15 miles to the west in Sharon.

Its merger with Northwest can be expected to further heighten that competition.

In the overall trade area of the three subject banks, the proposed mergers would

permit Northwest to maintain its competitive standing with respect to the area’s

largest bank, without inflicting significant harm to the competitive abilities of

the remaining 17 banks, many of which are reported to confine their activities

within a relatively constricted area surrounding their main offices. The size of

the bulk of these banks, while considerably smaller than that of the two largest

banks of the area, suggests that they will continue to be capable of effective competition.

While Northwest’s control of the aggregate IPC deposits of the relevant trade

area will rise from 14.4 percent to 20.5 percent, there should be considered: the

proximity of three branches of two large Pittsburgh banks, one of which is only

6 miles from Northwest’s Emlenton Branch; the transition of the regional economy from dependence on the extractive industries to more diversified industrial

production; the economic decline of certain area communities; and general population trends indicative of an outward drift from the area. These considerations have

all served to encourage the mergers of small banks in the area in recent years.

The subject proposals will not eliminate any material degree of bank competition between the participating banks and will not result in the loss of banking

offices to the communities involved. On the contrary, there is reason to believe

that overall bank competition in the combined service areas will be rendered more

intense, with a corresponding benefit to the communities therein as Northwest’s

broader scope of banking service is made more widely available. In view of the

foregoing, the mergers were concluded to be in the public interest.

No. 28—First State Bank of Witchita Falls,

Wichita Falls, Texas (change title to 7,972 1 1

Texas Bank & Trust in Wichita Falls)

to merge with

The Texas Bank,

Wichita Falls 4,766 1

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112 FEDERAL DEPOSIT INSURANCE CORPORATION

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssumption of L iabilities A pproved by the C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

Summary report by Attorney General, October 18, 1963

The applicant bank was established in April 1961 and had, as of August 21,

1963, total assets of $7,972,000, total deposits of $6,883,000 and net loans and discounts of $5,614,000. The merging bank opened for business in January 1961 and

had, as of August 21, 1963, total assets of $4,766,000, total deposits of $4,374,000

and net loans and discounts of $3,042,000.

Five independent commercial banks are headquartered and compete for IPC

deposits and loans in the Wichita Falls service area. The applicant bank ranks

fourth in size with 3.5 percent of the total IPC deposits while the merging

bank ranks fifth in size with 2.3 percent of the total IPC deposits attributable

to this service area. Three larger banks respectively control in this area 55.1 percent, 33.0 percent and 6.2 percent of the total IPC deposits.

The instant merger would not seriously upset the existing competitive relationship between the merging banks on the one hand and their larger competitors on

the other, but it would eliminate the direct competition presently existing between

the participating banks and to this extent would be slightly adverse.

Basis for Corporation approval, November 7, 1963

The two banks joining in this proposal are the smallest of the five serving the

city of Wichita Falls, Texas. State Bank is situated in the city’s downtown business district while Texas Bank is almost five miles distant in a suburban section

adjoining the important Sheppard Air Force Base. As a practical matter, however,

both banks serve virtually similar areas, since much of the immediate area of

Texas Bank is yet to be developed. While that banking office will be eliminated as

a result of this merger, the existence of a banking facility within the air base suggests any inconvenience caused will be of small magnitude.

Some common deposit and loan business exists between the two banks and to

this limited extent there will be an elimination of competition. The resulting bank

will, however, be of a size that will permit more vigorous competition against

the other banks of the city. Certain economies and operating efficiencies can reasonably be expected to accrue from' the merger of the subject banks which should

benefit future earnings prospects. The record of Texas Bank has not been impressive in this regard, burdened as it has been with high overhead, and other expenses. While Texas Bank has achieved significant improvements in its condition

with its revised management, it is believed the proposed management of the

resulting bank represents greater strength.

The resulting bank will hold only 5.3 percent of the city’s IPC deposits and

7.4 percent of the loans, while the city’s largest bank now holds 55.4 percent and

47.3 percent, respectively. The proposed merger would have little overall effect on

bank competition but would produce a bank significantly stronger in terms of future

earnings prospects and management than either of the participants and which

would be better equipped to serve the community. There appears to be no tendency

toward monopoly and it is concluded that the transaction would be in the public

interest.

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Federal Reserve Bank of St. Louis
BANK ABSORPTIONS APPROVED BY TH E CORPORATION 113

Table 101. D e s c r ip tio n o f E a c h M erg er, C o n s o lid a tio n , A c q u is itio n 

o f A s s e ts or A ssu m p tio n o f L ia b ilitie s Approved by t h e C orp ora tio n 

D u r in g 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

No. 29—City Trust Company,

Bridgeport, Connecticut 186,817 9 1 0

to merge with

The Stratford Trust Company, 

Stratford2 16,976 1

Summary report by Attorney General, October 11, 1963

The City Trust Company of Bridgeport, Connecticut, operating several offices

in Bridgeport, Fairfield, Danbury and South Norwalk, Fairfield County, Connecticut, proposes to merge with The Stratford Trust Company also located in the

southeastern portion of Fairfield County.

Substantial competition exists between the two institutions. The proposed merger,

eliminating the only commercial bank in Stratford and one competitive with City

Trust, would result in further concentration of banking in the area involved and

the effect on competition would thus be adverse.

Basis for Corporation approval, November 29, 1963

Stratford Trust is a relatively small, noninsured commercial bank operating its

only office in Stratford, Connecticut, a suburb of Bridgeport. City Trust is the

fourth largest commercial bank in its southeastern Connecticut service area, where

a mutual savings bank is larger than any of the commercial banks.

Because of the “home office protection” feature of Connecticut statutes, Stratford

(population 45,000) has commercial bank services provided only by Stratford Trust,

which operates from inadequate and outmoded quarters, although branches of three

Bridgeport mutual savings banks and a Bridgeport commercial bank offer savings

facilities. Since consummation of this merger will enable other commercial banks

to establish de novo offices in Stratford, the area will realize the advantages of

conveniently located commercial bank services, as well as the benefits of local

commercial bank competition. An immediate effect of the merger will be to provide a greater capacity and broader variety of lending services and deposit insurance

for commercial bank customers in Stratford.

Some competition between the two banks will be eliminated as a result of the

merger, although the resulting bank will hold only one-fifth of the aggregate commercial bank IPC deposits in the area and only one-tenth of the aggregate IPC

deposits of all banks in the service area. Because of the increased competition anticipated in Stratford and the availability of services from other banks, four of them

larger than City Trust, the merger does not represent a tendency toward monopoly.

In view of the over-all benefits to be obtained, the merger, which will solve a

management succession problem at Stratford Trust, is concluded to be in the

public interest.

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

Table 1 01 . D e s c r ip tio n o f E a c h M erg er, C o n s o lid a tio n , A c q u is itio n 

o f A s s e ts o r A ssu m p tio n o f L ia b ilitie s Approved by t h e C orp ora tion 

D u r in g 1963— Continued

Resources

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

(in 

thousands 

of dollars)

In

operation

To be 

operated

No. 30—The Chase Manhattan Bank, 

New York, New York 10,669,104 (3) (3)

to acquire the assets and assume

liabilities of 4 branches of

Nationale Handelsbank, N.V., 

Amsterdam, Holland2 18,963 4

Summary report by Attorney General, November 29, 1963

Recent nationalizations have led Nationale Handelsbank to dispose of its Southeast Asian branches. Chase Manhattan presently has no offices in the three cities,

but does number among its customers a majority of the American corporations

which operate subsidiaries in Thailand, Singapore and Bangkok. At present only

two American banks maintain offices in one or more of the three cities. In light

of the reasons for the withdrawal of Nationale Handelsbank from the three areas,

the existing position of Chase with local subsidiaries of United States corporations,

and the strength of other American banks already established as competitors in the

several areas, any adverse effects upon competition resulting from the proposed

transaction affecting domestic or foreign trade or commerce would not appear to

be substantial.

Basis for Corporation approval, December 5, 1963

This transaction involves the acquisition by Chase of the Bangkok, Hong Kong

and Singapore branches of Nationale Handelsbank, a Netherlands corporation.

Since nationalization of its Indonesia branches, Nationale Handelsbank has desired to dispose of its other Far Eastern branches and this transaction will facilitate

the liquidation of its Far Eastern business. Chase operates numerous foreign

branches but its only branches in the Far East are in Japan. Bank of America,

National Trust and Savings Association, however, has branches in all three foreign

cities involved in this transaction and First National City Bank of New York has

branches in Hong Kong and Singapore.

The transaction, which will enable Chase to better service the foreign trade

requirements of its customers and those of other foreign and domestic concerns,

as well as increase competition among American banks for Far East business, is

considered to be in the public interest.

No. 31—The Bank of Nokesville, Inc., 

Nokesville, Virginia (change 2,118 2 6

title to The Bank of Prince William, and change 

location of head office to Woodbridge) 

to merge with

The Bank of Occoquan,

Occoquan 9.959 4

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Federal Reserve Bank of St. Louis
BANK ABSORPTIONS APPROVED BY THE CORPORATION 115

Table 1 0 1 . D escription of E ach M erger, C onsolidation, A cquisition

of A ssets or A ssum ption of L iabilities A pproved by th e C orporation

D uring 1963— Continued

Banking offices

Name of bank, and type of transaction1 

(in chronological order of determination)

Resources

(in

thousands In To be

of dollars) operation operated

Summary report by Attorney General, November 13, 1963

“The Bank of Occoquan had assets of $9,959,190 and The Bank of Nokesville

had assets of $2,117,970 as of June 30, 1963. Direct competition between the two

banks is practically nonexistent. The slightly increased size of the resulting bank

will have but limited competitive impact on the other banks in the area. While

one more independent bank will be eliminated in Virginia, it is noted that The

Bank of Nokesville has experienced an unsatisfactory earning record, its net operating income for the years 1957 through 1961 averaging only $4,794 which includes

a loss of $1,882 for 1961. The year 1962 showed a small profit of $12,713.

It is the view of this Department that this merger will have only a slight adverse

competitive effect.

Basis for Corporation approval, December 18, 1963

This merger involves the largest bank and the smallest bank in Prince William

County. The principals are not mutually competitive to any recognizable extent

and Nokesville has not been outstanding as a competitor against its much larger

competing banks. The greater volume of banking resources, more extensive services, and more specialized management will render the Nokesville office a more

potent competitor and enable the resulting bank to better serve the entire county

while bringing increased lending limits to a major Washington, D. C., suburban

area which is undergoing economic expansion. The volume of growth incident to

the merger would not promote any significant disparity in competitive capabilities

among banks in the county and the transaction is concluded to be in the public

interest.

1 Unless otherwise indicated, the first named bank is a resulting insured nonmember bank.

2 Corporation approval required for absorption of a noninsured bank or institution by a State bank 

member of the Federal Reserve System.

3 Prior to this transaction The Chase Manhattan Bank was operating 134 offices in the continental 

United States, Puerto Rico, and the Panama Canal Zone. FDIC statistics do not include offices in 

foreign countries.

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Federal Reserve Bank of St. Louis
T a b le 102. C hanges in N umber and C lassification of Banks and B ranches in the United States

(States and Other A reas), D uring 1963

All banks

Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks

Insured Noninsured

Type of change

Total

Insured

Noninsured Total

Total

Members F. R. 

System

Not

membersBanks

of

NondepositTotal

Insured

Noninsured

National State

F. R.

System

deposit

trust 

companies 1

BANKS

14,092 13,621 471 13,582 ^13,291 4,615 1,492 7,184 242 49 510 330 180

13,951

+141

13,455 496 13,439 13,124 4,503 1,542 7,079 265 50 512 331 181

+166 -2 5 +143 +167 + 1 1 2 -5 0 +105 -2 3 - 1 - 2 - 1 - 1

309 281 19 300 281 163 3 115 19

300 281 19 300 281 163 3 115 19

159 154 5 157 153 64 28 61 4 2 1 1

154 151 3 152 150 63 28 59 2 2 1 1

2 2

1

2 2 2

2 1 2 1 1 1

1

1 1 1

• i "l -a i • * i +39

+38

+ 1

-3 9 +39

+38

+ 1

+ 2 +37 -3 8 - 1

-3 8

- 1

+ 1 +37 -3 7 - 1

+ 1 - 1 Admissions to F. R. System operating banks.............................

. i . +13 -2 7 +14

+26

-1 3

- 8 -1 8

+13

+3 - 3

- 2 2 + 2 2

Changes not involving number in any class:

131 130 1 129 128 69 14 45 1 2 2

1 2

7

1 1 1 1 2 1 1 3 2 6 1

7 7 7 5 2

8 8 7 7 1 6 1 1

Changes in corporate powers:

2 2 2 2

Granted permission to exercise trust powers 48 48 48 48 48 2 ........................

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
BRANCHES

Number o f branches, December 31, 1963 3. 

Number o f branches, December 31, 1962 3.

Net change during year.

Branches opened for business................................

Facilities provided as agents of the government *.

Absorbed banks coverted to branches....................

Branches replacing head offices relocated..............

Other branches opened 6 ...........................................

Branches added to count6 .......................................

Branches discontinued..........

Facilities..................................

Branches..................................

Branches deleted from count.

14,277 14,087

13,078 12,891

+1,199 +1,196

1,253 1,249

7 7

145 144

13 13

1,078 1,075

1 0 1 0

54 53

8 8

43 42

3 3

Other changes in classification..............................................

Branches changing class as result of succession—net.............

Branches of insured banks admitted to F. R. System...........

Branches of insured banks withdrawing from F. R. System.. 

Branches transferred through sale or as result of absorption.

Changes not involving num ber in any class:

Branches transferred as result of absorption or succession. . .

Changes in title, location or name of location........................

Changes in operating powers of branches...............................

ALL BANKING OFFICES

Number o f offices, December 31, 1963 3. 

Number o f offices, December 31, 1962 3.

Net change during year.

Offices opened.

Banks.............

Branches........

Offices closed .

Banks...........

Branches

Changes in classification:

Among banks......................

Among branches.................

162

664

6

28,369

27,029

+1,340

1,553

300

1,253

213

159

54

161

664

27,708

26,346

+1,362

1,530

281

1,249

207

154

53

+39

190

187

+3 

4 

. „ 

' ' 3

661

683

-39

13,652

12,491

+1,161

1,214

7

143

13

1,042

53

157

655

27,234

25,930

+1,304

1,514

300

1,214

210

157

53

13,585

12,425

+1,160

1,213

7

143

13

1,041

9

53

8

42

3

157

655

26,876

25,549

+1,327

1,494

281

1,213

206

153

53

+39

7,420

6,639

+781

741

4 

91

5

638

3

27

5

19

3

+67 

+ 16

+51

141

597

12,035

11,142

+893

904

163

741

91

64

27

+13

+67

3,192

3,007

+185

226

1

30

3

189

3

13

1

12

-2 8 

-2 8 

+2

- 3 

+ 1

4,684

4,549

+135

229

3

226

41

28

13

-2 5

-2 8

2,973

2,779

+194

246

2

22

5

214

3

13

2

11

-3 9

+12

-2

+3

-5 2

10,157

9,858

+299

361

115

246

74

61

13

+51

-3 9

52

51

+ 1

1

15

15

625

587

+38

39

502

466

+36

36

123

1 2 1

+ 2

3

2 1 1

1 36

1

1

34

1

2

1

1 1

5

9

4

9

1

294

316

- 2 2

2 0

19

1

4

4

64

65

- 1

1,135

1,099

+36

39

832

797

+35

36

303

302

+ 1

3

39

3

2

1

36

1

1

3

2

1

1

—38 - 1

1 Includes two trust companies on December 31, 1962, and 1 trust company on December 31, 1963, members of the Federal Reserve System.

2 Information available only for insured banks not members of Federal Reserve System.

8 Includes a few seasonal offices of State banks members of the Federal Reserve System and insured State banks not members of the Federal Reserve System which were not in 

operation December 31, 1963.

4 Facilities established in or near military or other Federal Government installations at request of the Treasury Department or the commanding officer of the installation.

6 Excludes opening and closing of seasonal offices (except those newly established in 1963).

8 Opened prior to 1963 but not included in the count as of December 31, 1962.

NUMBER, OFFICES, AND DEPOSITS OF BANKS

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Federal Reserve Bank of St. Louis
T ab le 103. N um ber of B a n k in g Offices in the U nited States (States and Other A r eas), D ecem ber 31, 1963

grouped according to insurance status and class of b a n k , and by state or area and type of office

All banks

Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured 1

Insured Noninsured

State and type of bank or office

Total

Insured

Noninsured Total

Members F. R. 

System Not

memBanks

of

Nondeposit

trust

Total

InsuredNoninsured

All

banks

of

deCommercial

banks

of

Mutual

savings

banks

Total

National State

bers

F.R.S.

deposit

companies2

posit deposit

28,369 

14,092 

11,001

27,708 661 27,234 26,876

13,291

12,035 4,684

1,492

10,157 294 64 1,135 832 303 97.9 98.9 73.3

13,621 471 13,582 4,615 7,184 242 49 510 330 180 97.0 98.2 64.7

10,618 383 10,717 10, u s 3,424 1,053 5,971 225 44 284 170 114 96.9 97.9 59.9

3,091

14,277

28,197

3,003 88 2,865 2,843 1,191 439 1,213 17 5 226 160 66 97.3 99.4 70.8

Branches................................................ 14,087

27,560

190 13,652

27,064

13,568

10,712

13,585 7,420 3,192 2,973 52 15 625 502 123 98.8 99.6 80.3

50 States and D. C.——all offices . . . . 637 26,728 12,032

4,614

4,684

1,492

1 0 , 0 1 2 272 64 1,133 832 301 98.0 99.0 73.4

Banks..................................................... 14,077

10,996

13,613

10,617

2,996

13,947

148

464 13,283 7,177 236 49 509 330 179 97.0 98.3 64.8

U7lit banks......................................... 379 10,447

2,836

3,4^4

1,190

1,053 5,970 *'221 44 284 170 114 96.9 97.9 59.9

Banks operating branches.................. 3,081

14,120

172

85 2,856 439 1,207 15 5 225 160 65 97.4 99.5 71.1

Branches................................................ 173 13,496

170

13,445

148

7,418

3

3,192 2,835 36 15 624 502 1 2 2 98.9 99.7 80.4

Other areas’—"—all offices 24 145 2 2 2 2 8 6 . 0 87.1

Banks 15 8 7 14 8 1 7 6 1 1 53.3 57.1

Unit banks 5 1 4 5 1 1 4 20.0 20.0

Banks operating branches 10 7 3 9 7 1 6 2 1 1 70.0 77.8

Branches 157 140 17 156 140 2 138 16 1 1 89.2 89.7

State

Aliibama-^all offices ........ 371 371 371 371 178 30 163 1 0 0 . 0 1 0 0 . 0

Banks 242 242 242 242 73 24 145 1 0 0 . 0 1 0 0 . 0

Unit banks 207 207 207 207 50 21 136 100.0 100.0

Banks opBvciti'ig b/anclics 35

129

35

129

35 35 23 3 9 100.0 100.0

Branches 129 129 105 6 18 1 0 0 . 0 1 0 0 . 0

Alaska—all ofRccs 64 58 6 63 57 48 9 6 1 1 90.6 90.5 1 0 0 . 0

Banks . . . . ..................... 13 1 0 3 1 2 9 5 4 3 1 1 76.9 75.0 1 0 0 . 0

Unit banks • ■ . .............. 5 3 2 4 2 2 1 1 60.0 50.0 100.0

Banks operating branch €$ 8 7 1 8 7 5 2 1 87.5 87.5

Branches 51 48 3 51 48 43 5 3 94.1 94.1

244

13

235 9 244 235 163 17 55 9 1 0 0 . 0 1 0 0 . 0

Banks 1 2 1 13 1 2 3 1 8 1 1 0 0 . 0 1 0 0 . 0

Unit banks 3 3 3 3 3 100.0 100.0

10

231

9 1 10 9 3 1 5 1 100.0 100.0

Bra n c li cs 223 8 231 223 160 16 47 8 1 0 0 . 0 1 0 0 . 0

118 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Arkansas—all offices.............................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

California—-a ll offices...........................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

Colorado— all offices.............................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

Connecticut—all offices......................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

Delaware— all offices.............................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

District o f Colum bia— all offices. . . .

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

Florida—all offices................................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

Georgia—all offices...............................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

Hawaii—all offices.................................

Banks.....................................................

Unit banks.........................................

Banks operating branches..................

Branches................................................

315 4 319 315 97

238 4 242 238 60

186

4 190 186 39

52 52 52 21

77 77 77 37

2,271 11 2,282 2,271 1,641

149

6 155 149 54

76

4 80 76 30

73 2 75 73 24

2 , 1 2 25 2,127 2 , 1 2 2 1,587

2 0 1 33 234 2 0 1 109

194 33 227 194 104

188 33 221 188 100

6 6 6

4

7 7 75

474

6 322 316 156

129

6 64 58 23

58 6 27 21 8

71 37 37 15

345 258 258 133

8 8 80 80

8

2 2 2 0 2 0

5

12 12 12

4

10 8 8 1

6 6 60 60 3

90 90 90 46

14 14 14

7

3 3 3 3

11 11 11

4

76 76 76 39

398 3 401 398 173

382 3 385 382 161

367 3 370 367 150

15 15 15 11

16 16 16 12

530 53 583 530 157

370 53 423 370 55

318 53 371 318 34

52 52 52 21

160 160 160 1 0 2

1186 124 118 42

7

5 1 27

2

4 4

7

1

8

7

2

1 1 1 1 1 1 2 1 1 1 40

319

242

190

52

77

2,282

155

80

75

2,127

234

227

22167

480

135

64

71

345

88

22

12

10

66

90

143

11

76

401

385

370

15

16

583

423

371

52

160

124

1248

112

32

21

147

11

397

163

13

381

19

18

1711

77716

70

312

29

334

” 4

29

10

10

10

45

1596

30

186

157

133

233

79

43

36

154

73

72

7111

83

28

12

16

55

41

1385

28

113

* • 'g8

215

211

20744

328

300

275

25

28

765

. . . „

71

333

111

1 16425

33

33

33555

111158

71

37

34

8782

158

71

37

S4

8782

26

26

222

111

53

53

53

654l1

99.1 99.1

98.8 98.8

98.4 98.4

100.0 100.0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

100.0 100.0

100.0 100.0

1 0 0 . 0 1 0 0 . 0

85.9 85.9

85.5 85.5

85.1 85.1

100.0 100.0

1 0 0 . 0 1 0 0 . 0

99.0 98.4 1 0 0 . 0

96.3 92.1 1 0 0 . 0

92.1 80.8 100.0

100.0 100.0 100.0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

100.0 100.0

100.0 100.0 100.0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

100.0 100.0

100.0 100.0

1 0 0 . 0 1 0 0 . 0

99.5 99.5

99.5 99.5

99.5 99.5

100.0 100.0

1 0 0 . 0 1 0 0 . 0

90.9 90.9

87.5 87.5

85.7 85.7

100.0 100.0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

100.0 100.0

1 0 0 . 0 1 0 0 . 0

NUMBER, OFFICES, AND DEPOSITS OF BANKS 119

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Federal Reserve Bank of St. Louis
T ab le 103. N um ber o f Banking O ffic e s in th e U nited S tates (S tates and O th er A reas), D ecem ber 31, 1963— Continued

GROUPED ACCORDING TO INSURANCE STATUS AND CLASS OF BANK, AND BY STATE OR AREA AND TYPE OF OFFICE

All banks

Commercial and stock savings banks 

and nondeposit trust companies Mutual savings banks Percentage insured 1

Insured Noninsured

State and type of bank or office

Total

Insured

Noninsured Total

Members F. R. 

System Not

memBanksof

Nondeposit

trust

Total

Insured

Noninsured

All

banks

of

deCommercial

banks

of

Mutual

savings

banks

Total

National State

bers

F.R.S.

deposit

companies2

posit deposit

TJ 1 11 ZK 138

27

138

27

138 138 95 24 19 1 0 0 . 0 1 0 0 . 0

27 27 1 0 6 1 1 1 0 0 . 0 1 0 0 . 0

TTnot hsi'nJfQ 15

12

1 1 1

1,013

1,009

1,005

4

4

15

12

15 15 4

6

3 8 100.0 100.0

/ryi q 'inp'i'fin hvff'n/'hpQ 12 12 3 3 100.0 100.0

Branches 1 1 1

1,007

1,003

999

1 1 1 1 1 1 85 18 8 1 0 0 . 0 1 0 0 . 0

6 1,013 1,007 409 118 480 3 3 99.7 99.7

6 1,009

1,005

4

4

1,003

999

405 118 480 3 3 99.7 99.7

Unit banks 6 401

4

4

118 480 3 3 99.7 99.7

4

4

4

4

100.0 100.0

"Rtq npnPQ 1 0 0 . 0 1 0 0 . 0

Indinnfl—'s ll officcs 840 835 5 836 831 345 151 335 4 1 4 4 99.5 99.5 1 0 0 . 0

Banks .............. .......... 441 436 5 437 432 124 1 0 0 208 4 1 4 4 99.1 99.1 1 0 0 . 0

TJnit banks • . . . .......... 290 285 5 286 281 69 75 137 4 1 4 4 98.6 98.6 100.0

151

399

8 8 6

674

151

399

869

657

151

399

151 55 25 71 100.0 100.0

399 2 2 1 51 127 1 0 0 . 0 1 0 0 . 0

17 8 8 6 869 119 84 6 6 6 16 1 98.2 98.2

Banks 17 674 657 1 0 0 65 492 16 1 97.6 97.6

TTwit ~h/mlrv 509

165

2 1 2

638

492

165

2 1 2

636

17 509 492 83 50 359 16 1 96.9 96.9

165

2 1 2

165

2 1 2

17 15 133 100.0 100.0

19 19 174 1 0 0 . 0 1 0 0 . 0

0

638 636 194 47 395 2 99.7 99.7

593

550

43

45

591

548

43

45

2 593 591 167 42 382 2 99.7 99.7

2 550 548

48

142 37 369 99.6 99.6

43

45

25 5 13 100.0 100.0

45 27 5 13 1 0 0 . 0 1 0 0 . 0

546

348

257

539

341

7 546 539

341

184 48 307 7 98.7 98.7

7 348 83 14 244 7 98.0 98.0

TT'n'tt Ti/in Z’ j* 250 257 250 45

88

7 198 97.3 97.3

91

198

91

198

91

198

91

198

7 46

63

100.0 100.0

1 0 1 34 1 0 0 . 0 1 0 0 . 0

120 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Louisiana—all offices.........

Banks.................................

Unit banks.......................

Banks operating branches

Branches.............................

Maine—all offices..............

Banks.................................

Unit banks......................

Banks operating branches

Branches.............................

Maryland—all offices........

Banks.................................

Unit banks.......................

Banks operating branches

Branches.............................

Massachusetts—all offices.

Banks.................................

Unit banks......................

Banks operating branches

Branches3 ............................

Michigan— all offices........

Banks.................................

Unit banks......................

Banks operating branches

Branches.............................

Minnesota—all offices. . . .

Banks.................................

Unit banks......................

Banks operating branches

Branches.............................

Mississippi—all offices. . . .

Banks.................................

Unit banks......................

Banks operating branches.

Branches.............................

Missouri— all offices...........

Banks...................................

Unit banks......................

Banks operating branches

Branches.............................

Montana—all offices...........

Banks...................................

Unit banks......................

Banks operating branches

Branches..............................

418

1 419 418 164

1981 199 198 44

119

1 120 119 16

79 79 79 28

2 2 0 2 2 0 2 2 0 1 2 0

226 2 1 206 191 8 6

6 6 1 2 46 40 2 2

31 8 13 11

8

35

4 33 29 14

160 9 160 151 64

4906 455 449 207

123

1 118 117 46

67 66 66 24

56

1 52 51 22

367

5 337 332 161

6 6 6 301 640 633 366

165 177 162 157 93

59 111 61 57 39

106 66 101 100 54

501 124 478 476 273

1,091 4 1,095 1,091 391

3652 367 365 87

213 1 214 213 48

152 1 153 152 44

726

2 728 726 304

7088 715 707 194

7008 707 699 188

696 8 703 695 186 4 4 4 2

8 8 8 6

369

2 371 369 69

1922 194 192 29

108

2 110 108

8

84 84 84 21

177 177 177 40

672 1 2 684 672 98

624 1 2 636 624 84

576 12 588 576 70

48 48 48 14

48 48 48 14

1271 128 127 49

124

1 125 124 47

121

1 122 121 45

3

3

S

2

3 3 3

2

419

199

120

79

220

247

78

39

39

169

496

124

67

57

372

967

342

170

172

625

1,095

367

214

153

728

716

708

70448

371

194

110

84

177

684

636

588

48

48

128

125

122S3

36

1147

25

55 624

49

56 716

49

136

18

18

118

421

129

77

52

292

27

27

28725

21

100

87

74

13

13

45

44

4311

218

1

143

1

99

1

44

75

50 15 41 35

6

1 2

6 32 26

20

6

1 2 26

6

11 4

6

6

38

9

9

9

1866 41 41

64

1 6 6

41

23

1 1

t 5 5

1 2 25 35 35

131

46

18

54421

327

180

109

3382

294

172

107

28

1 71 6 65

85 1 1 147 25 1 2 2

279

3

1

149

1

1

93

1

56

1

130

2

486

8 1 1

484

8 1 1

482

8

1

1

2

272

2

156

2

98

58

116

474

9

3

453 9 3

432

21

9 3

2 1

33

1

33

1

3S 1

99.8

99.5

99.2

100.0

100.0

91.5

84.6 

79.5

89.7

94.7

98.8

99.2 

100.0

98.2

98.7

69.0

48.4

34.7

62.0

80.3

99.7

99.7 

100.0

99.3

99.7

98.9

98.9

98.9

100.0

100.0

99.5

99.0

98.2

100.0

100.0

98.7

98.6 

98.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

99.8

99.5

99.2

100.0

100.0

92.7

87.0

84.6

87.9

94.4

98.7

99.2 

100.0

98.1

98.5

99.2

97.5

99.7

99.7 

100.0

99.3

99.7

98.9

98.9

98.9

100.0

100.0

99.5

99.0

98.2

100.0

100.0

98.7

98.6 

98.5

100.0

100.0

100.0

100.0

100.0

100.0

100.0

85.4

81.3

76.9

100.0

100.0

100.0

100.0

100.0

100.0

100.0

10.1

4.4 

1.8

8.5

17.0

100.0

100.0

100.0

NUMBER, OFFICES, AND DEPOSITS OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 103. N um ber of B an kin g Offices in the United States (States and Other A reas), D ecem ber 31, 1963— Continued

grouped according to insurance sta tu s and class of bank, and by sta te o r a rea and type o f o ffic e bo

to

State and type of bank or office

Nebraska— all offices..........

Banks...................................

Unit banks....................... .

Banks operating branches , 

Branches................................

Nevada— all offices..............

Banks.....................................

Unit banks.........................

Banks operating branches.

Branches................................

New Hampshire— all offices

Banks.....................................

Unit banks.........................

Banks operating branches.

Branches................................

New Jersey—all offices.........

Banks.....................................

Unit banks.......................

Banks operating branches. , 

Branches................................

New Mexico—all offices.......

Banks...................................

Unit banks.......................

Banks operating branches.

Branches................................

New York— all offices...........

Banks.....................................

Unit banks.........................

Banks operating branches. . 

Branches3 ...............................

All banks

Total

455

429

405

26

59

7

2

5

52

114

109

104

5

5

852

256

96

160

596

140

61

26

35

79

2,396

486

1,910

Insured

444

418

394

24

26

59

7

2

5

52

111

106

101

849

253

93

180

596

140

61

26

35

79

2,368

462

217

245

1,906

Noninsured

28

24

21

3

4

Commercial and stock savings banks 

and nondeposit trust companies

Total

455

429

405

24

26

59

7

2

5

52

80

76

72

4

4

807

235

85

150

572

140

61

26

35

79

2,062

360

191

169

1,702

Insured

Total

444

418

394

24

26

59

7

2

5

52

77

73

69

4

4

804

232

82

150

572

140

61

26

35

79

2,034

336

170

166

1,698

Members F. R. 

System

National

139 121

104

17

18

33

3

1

2

30

55

52 

49

3

3

493

144

53

91

349

71

30

14

16

41

904

211

120

91

693

State

15

14

13

1

1

17

2

216

52

14

38

164

14

8

4

4

1,011

8 8

31

57

923

Not

members

F.R.S.

290

283

9

2

1

1

7

2 1

2 0

19

1

1

95

36 

15

21

59

55

23

8

15

32

119

37 

19

18

82

Noninsured

Banks

of

deposit

23

19

16

3

4

Nondeposit

trust

companies2

Mutual savings banks

Total

34

33

32

1

1

45

2 1

11

10

24

334

126

47

79

208

Insured

34

33

32

1

1

45

2 1

11

10

24

334

126

47

79

208

Noninsured

Percentage insured 1

All Combanks mercial Mutual

of banks savings

de­ of banta

posit deposit

98.7 98.7

—---------

98.6 98.6

98.5 98.5

100.0 100.0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

100.0 100.0

100.0 100.0

1 0 0 . 0 1 0 0 . 0

97.4 96.3 1 0 0 . 0

97.2 96.1 1 0 0 . 0

97.1 95.8 100.0

100.0 100.0 100.0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

100.0 100.0 100.0

100.0 100.0 100.0

1 0 0 . 0 1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

1 0 0 . 0 1 0 0 . 0

100.0 100.0

100.0 100.0

1 0 0 . 0 1 0 0 . 0

99.0 98.9 1 0 0 . 0

96.0 94.6 1 0 0 . 0

93.1 91.4 100.0

98.8 98.2 100.0

99.8 99.8 1 0 0 . 0

EDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
North Carolina—all offices.

Banks...................................

Unit banks........................

Banks operating branches.

Branches...............................

North Dakota—all offices. .

Banks...................................

Unit banks........................

Banks operating branches.

Branches...............................

Ohio—all offices...................

Banks...................................

Unit banks........................

Banks operating branches.

Branches...............................

Oklahoma— all offices ....

Banks...................................

Unit banks........................

Banks operating branches.

Branches.............................

Oregon—all offices..............

Banks...................................

Unit banks........................

Banks operating branches.

Branches3 .............................

Pennsylvania— all other...................... 1, 733

Banks..................................................... 628

Unit banks.......................................... 401

Banks operating branches.............. '

Branches3 ............................................. 1 ,105

Rhode Island— all offices . .

Banks...................................

Unit banks........................

Banks operating branches.

Branches.............................

South Carolina-—ail offices.

Banks.....................................

Unit banks.........................

Banks operating branches. .

Branches................................

South Dakota— all offices.

Banks...................................

Unit banks........................

Banks operating branches.

Branches..............................

828

156

74

82

672

197

159

129

SO

38

1,371

554

SSO

224

817

435

401

34

286

52

27

25

234

159

18

1

17

141

355

138

87

51

217

244

173

140

S3

71

824

155

74

81

669

193

155

125

30

38

1,370

553

817

434

400

368

32

34

284

50

25

25

234

1,720

618

393

225

1,102

151

16

1

15

135

351

134

83

51

217

243

172

139

4 828 824 265 98 461 4 99.5 99.5

1 156 155 31 4 1 2 0 1 99.4 99 4

74

82

74

81

10 1 63 100.0

98.8

100.0

1 21 3 57 1 98.8

3 672 669 234 94 341 3 99.6 99.6

98.0

97.5

96.9

4 197 193 44 3 146 4 98.0

4 159 155 39 2 114 4 97.5

4 129 125 34 1 90 4 96.9

30 30 5 1 24 100.0

1 0 0 . 0

99.9

99.8

100 0

38 38 5 1 32 1 0 0 . 0

99.9

99.8

1 1,367 1,366 640 416 310 1 4 4 1 0 0 . 0 

1 0 0 0

1 552 551 217 133 2 0 1 1 2 2

1 329 328 102 85 141 1 1 1 99.7 99.7 100.0

100.0

1 0 0 . 0

223 223 115 48 60 1 1 100 0 100.0

1 0 0 . 0

1 0 0 . 0

815 815 423 283 109 2 2 1 0 0 . 0

1 0 0 . 0 1 435 434 238 27 169 1

1 401 400 2 1 1 25 164 1 1 0 0 . 0 1 0 0 . 0

1 369 368 186 23 159 I 100.0 WO.O

32 32 25 2 5 100 0 100.0

1 0 0 . 0

99.6

34 34 27 2 5 1 0 0 . 0

2 285 283 2 0 2 13 6 8 1 1 1 1 99.6 1 0 0 . 0

2 51 49 1 1 3 35 1 1 1 1 98.0 98.0 1 0 0 . 0

2 26 24 7 2 15 1 1 1 1 96.2 96.0 100.0

25 25 4 1 20 100 0 100.0

1 0 0 . 0

99.4

234 234 191 1 0 33 1 0 0 . 0

13 1,669 1,656 1,031 281 344 1 0 3 64 64 99.4 1 0 0 . 0

1 0 621 611 408 54 149 7 3 7 7 98.9 98.9 1 0 0 . 0

8 399 391 264 29 98 5 3 2 98.7 98.7 100.0

2 222 220 144

623

25 51 2 5 5 99.1 99.1 100.0

1 0 0 . 0

1 0 0 . 0

1 0 0 . 0

100.0

100.0

1 0 0 . 0

3 1,048 1,045 227 195 3 57 57 99.7 99.7

8 116 108 57 23 28 8 43 43 95.0 93.1

80.0 2 1 0 8 4 1 3 2 8 8 88.9

1 1 100.0

2 10 8 4 1 3 2 7 88.2 80.0

6 106 1 0 0 53 2 2 25 6 35 35 95.7

98.9

94.3

98.9

97.1

4 355 351 173 1 0 168 4

4 138 134 25 6 103 4 97.1

4 87 83 9 4 70 4 95.4 95.4

100.0

1 0 0 . 0

99.6

99.4 

99.3

WO.O

1 0 0 . 0

51 51 16 2 33 100.0

1 0 0 . 0

99.6

99.4

217 217 148 4 65

1 244 243 67 27 149 1

1 173 172 33 25 114 1

1 140 139 28 23 88 1 99.3

33 33 5 2 26 100 0

71 71 34 2 35 1 0 0 . 0

NUMBER, OFFICES, AND DEPOSITS OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. Num ber o f Banking O ffic e s in th e U nited S tates (S tates and O th er A reas), D ecem ber 31, 1963— Continued

grouped according to insurance status and class of b a n k , and b y state or area and type of office

State and type of bank or office

Tennessee—all offices.......

Banks.................................

Unit banks......................

Banks operating branches

Branches............................

Texas—all offices................

Banks.................................

Unit banks.....................

Banks operating branches

Branches............................

Utah—all offices.................

Banks.................................

Unit banks.....................

Banks operating branches

Branches............................

Vermont— all offices.........

Banks.................................

Unit banks......................

Banks operating branches

Branches............................

Virginia—all offices...........

Banks.................................

Unit banks......................

Banks operating branches

Branches............................

Washington—all offices...

Banks.................................

Unit banks.....................

Banks operating branches

Branches 3 ..........................

All banks

Total

565

294

271

1,144

1,099

1,053

46

45

147

52

33

19

95

99

55

39

16

44

710

280

163

117

430

453

97

61

36

356

Insured

560

289

200

89

271

1,128

1,083

1,037

46

45

145

50

31

19

95

98

54

38

16

44

710

280

163

117

430

452

96 

60

36

356

Noninsured

Commercial and stock savings banks 

and nondeposit trust companies

Total

565

294

205

89

271

1,144

1,099

1,053

46

45

147

52

33

19

95

92

49

34

15

43

710

280

163

117

430

437

93 

60

33

344

Total

560

289

200

89

271

1,128

1,083

1,037

46

45

145

50

31

19

95

91

48

33

15

43

710

280

163

117

430

436

92

59

S3

344

Insured

Members F. R. 

System

National

239

74

35

89

165

538

519

499

20

19

61

1 0

50

28

21

7

2 2

379

123

68

55

256

328

25

9

16

303

State

31

8

3

5

23

83

78

73

5

5

39

13

6

7

26

141

61

41

20

80

33

9

4

5

24

Not 

members 

F.R.S.

290

207

162

45

83

507

486

465

21

2 1

45

27

18

9

18

41

2 0

12

8

21

190

94

75

58

12

17

Noninsured

Banks

of

deposit

Nondeposit

trust

companies2

16

16

16

Mutual savings banks

Total

Insured

Noninsured

Percentage insured 1

All

banks

of

deposit

99.5

99.0

98.5

100.0

100.0

98.6

98.5

98.5

100.0

100.0

98.6

96.2

93.9

100.0

100.0

100.0

100.0

100.0

100.0

1 0 0 . 0

100.0

100.0

100.0

100.0

100.0

99.8

99.0 

98.4

100.0

100.0

Commercial

banks

of

deposit

99.5 

99.0

98.5

100.0

100.0

98.6

98.5

98.5

100.0

100.0

98.6

96.2 

93.9

100.0

100.0

100.0

100.0

100.0

100.0

1 0 0 . 0

100.0

100.0

100.0

100.0

100.0

99.8

98.9

98.3

100.0

100.0

Mutual

savings

banks

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

124 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
182 181 1 182 181 76 33 72 1 99.5 99.5

182

182

181

181

1 182 181 76 33 72 1 99.5 99.5

1 182 181 76 88 72 1 99.5 99.5

745 741 4 741 738 126 71 541 1 2 4 3 1 99.7 99.9

580 576 4 576 573 104 59 410 1 2 4 3 1 99.7 99.8

479

101

165

64

475

101

165

64

4 475

101

472

101

94 53 325 1 2 4 8 1 99.6 99.8

10 6 85 100.0 100.0

165 165 2 2 1 2 131 1 0 0 . 0 1 0 0 . 0

64 64 35 14 15 1 0 0 . 0 1 0 0 . 0

63

62

63

62

63 63 34 14 15 1 0 0 . 0 1 0 0 . 0

62 62 83 14 15 100.0 100.0

1 1 1 1 1 100.0 100.0

1 1 1 1 1 1 0 0 . 0 1 0 0 . 0

Other areas

Pacific Islands—-all offices 4 13

1

4 9 13 4 4 9 30.8 30.8

Banks 1 1 1

Unit banks ® 1 I 1 1

Branches ® 1 2 4 8 1 2 4 4 8 33.3 33.3

Panama Canal Zone---all offices 2 2

2 2

Branches 7 2 2 2 2

Puerto Rico—all offices 147 137

7

1 0 147 137 137 1 0 93.2 93.2

Banks ................................................. 1 1 4 1 1 7 7 4 63.6 63.6

Unit banks 3 1 2 8 1 1 2 88.8 33.3

Banks operating branches 8 6 2 8 6 6 2 75.0 75.0

Branches 8 .............................................. 136 130 6 136 130 130 6 95.6 95.6

Virgin Islands—all offices ... 1 0 7 3 8 7 3 4 1 2 2 70.0 87.5

Banks ............................................. 3 1 2 2 1 1 1 1 1 33.3 33.3

Unit banks . . 1 1 1 1

Banks operating branches 2

7

1 1 1 1 1 1 1 50.0 50.0

Branches ®.............................................. 6 1 6 6 2 4 1 1 85.7 1 0 0 . 0

1 Nondeposit trust companies are excluded in computing these percentages.

2 Includes one trust company in Massachusetts operating one branch, member of the F.R. System.

8 Includes the following branches of banks located in other states or in Puerto Rico: 1 noninsured branch in Massachusetts and 1 in Pennsylvania of a noninsured New York 

bank; 4 insured branches in New York of 2 insured banks in Puerto Rico not members of the F. R. System; 1 insured branch in Pennsylvania of a New Jersey bank member of F. R. 

System; 1 insured branch in Oregon and 2 in Washington of a California bank member F. R. System.

4 United States possessions (American Samoa, Guam, Midway Islands, and Wake Island); Trust Territories (Kwajalein, Palau Islands, Ponape Islands, Saipan and Truk Atoll).

5 American Samoa.

6 One noninsured branch in Caroline Islands, Truk Atoll (Moen Island) and 4 branches in the Mariana Islands (3 insured not members of F. R. System on Guam and 1 noninsured

on Saipan) of an insured bank in California member of the F. R. System. Six noninsured branches of an insured bank in Hawaii not a member of the F. R. System—2 in Caroline i 

Islands (Palau Islands, Koror and Ponape Islands, Kolina); 2 in Marshall Islands, Kwajalein Atoll; 1 on Midway Islands; 1 on Wake Island, and 1 insured branch on Guam. to

7 Two noninsured branches of 2 insured banks in New York members of the F. R. System. ^ ^

8 Includes 15 insured branches not members of the F. R. System of 2 insured banks in New York members of the F. R. System.

9 Includes 4 insured branches not members of the F. R. System of an insured bank in New York a member of the F. R. System.

Back figures: See the Annual Report for 1962, pp. 108-115, and earlier reports.

NUMBER, OFFICES, AND DEPOSITS OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 104. Num ber and D ep osits o f A l l Banks in th e U nited S ta tes (S tates and O th e r A reas), Decem ber 20, 1963

bank s grouped according to insurance status and by district and state

FDIC District 

and State

Total Uni led

Stales..............

50 States and

D. C.................

Other areas...........

FDIC District

District 1.................

District 2 3 ..............

District 3 .................

District 4 .................

District 5 .................

District 6 .................

District 7 .................

District 8 .................

District 9 .................

District 10...............

District I I ...............

District 12 4.............

State

Alabama..................

Alaska......................

Arizona....................

Arkansas..................

California................

Colorado..................

Connecticut.............

Delaware.................

District of Columbia 

Florida.....................

Georgia....................

Hawaii.....................

Idaho.......................

Illinois......................

Indiana....................

Number of banks

All

banks 2

Commercial and stock savings 

banks and nondeposit 

trust companies

Total Insured

Noninsured

Banks 

of deposit 2

Nondeposit

trust

companies

Mutual savings banks

Total Insured

N oninsured

Deposits (in thousands of dollars) 1

All

banks

Commercial and stock savings 

banks and nondeposit 

trust companies

Total Insured

Noninsured

Mutual savings banks

T otal Insured

_ Noninsured

14,093

14,078 

15

737 

778 

1,182 

894 

1,245 

1,520 

1,388 

1,683 

1,165 

1,713 

1,372 

416

242

13

13 

242 

155

227

135

2 2

14 

385

424

1 2

27

1,009

441

13,583

13,569

14

407

628

1,173

888

1,245

1,520

1,380

1,683

1,164

1,713

1,372

410

242

1 2

13 

242 

155

227

64

2 0

14 

385

424 

1 2 

27 

1,009 

437

13,291

13,283

8

384 

596 

1,162 

881 

1,186 

1,492 

1,370 

1,660 

1,150 1,666 

1,354 

390

242

9

1 2

238

149

194

58

2 0

14

382

370

7

27 

1,003 

432

237

6

2 0

24

8

7 

58 

2 2

6

19

13

41

17

8

330

330

330

150

9

6

152

149

9

6

179

1

178

1

320,745,934

319,613,911

1,132,023

24,159,563

90,256,584

32,480,294

15,917,742

13,874,006

15,902,156

22,079,775

24,823,610

8,280,396

11,067,289

20,953,288

40,951,231

2,556,592

259,556

1,740,768

1,703,184

30,980,615

2,532,662

6,028,962

985,710

1,932,959

6,030,498

3,608,403

808,086

754,848

21,163,649

5,423,577

276,229,639

275,097,818

1,131,821

11,647,837

62,592,113

29,846,089

15,278,632

13,874,006

15,902,156

21,990,775

24,823,610

7,877,657

11,067,289

20,953,288

40,376,187

2,556,592

252,560

1,740,768

1,703,184

30,980,615

2,532,662

2,821,480

798,881

1,932,959

6,030,498

3,608,403

803,086

754,848

21,163,649

5,362,329

274,646,629

273,634,741

1,011,888

11,466,108

61,885,634

29,815,636

15,103,418

13,823,525

15,863,319

21,958,773

24,755,721

7,766,793

11,035,764

20,904,575

40,267,363

2,556,592

244,902

1,732,375

1,699,960

30,980,615

2,507,326

2,807,324

798,881

1,932,959

6,011,280

3,588,483

793,774

754,848

21,119,143

5,355,242

1,583,010

1,463,077

119,933

181,729

706,479

30,453

175,214

50,481

38,837

32,002

67,889

110,864

31,525

48,713

108,824

44,516,295

44,516,093

12,511,726

27,664,471

2,634,205

639,110

38.657.119

38.657.119

6,653,477

27,664,269

2,634,205

639,110

5.859,176

,974 

202

5,858,249

202

89,000

'402,739

88,275

402,739

725

575,044 575,044

7,658

8,393

3,224

6,996 6,996

25,336

14,156 3,207,482

186,829

3,207,482

186,829

19,218

19,920

14,312

44,506

7,087 01,248 61,248

120 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
lo w a ....................................

Kansas.......................

K entucky..................

Louisiana..................

M aine........................

M aryland..................

Massachusetts.........

M ichigan...................

Minnesota.................

Mississippi................

M issouri....................

M ontana...................

Nebraska...................

N evada......................

New Hampshire.. . .

New Jersey...............

New M exico.............

New York 5...............

North Carolina........

North D akota.........

O hio............................

Oklahoma.................

Oregon.......................

Pennsylvania...........

Rhode Island...........

South Carolina........

South Dakota..........

Tennessee..................

Texas..........................

U tah...........................

Verm ont....................

Virginia......................

Washington..............

West Virginia...........

W isconsin..................

W yom ing...................

O ther area

Pacific Islands 6. . . . 

Panama Canal Zone7 

Puerto Rico 8. . . . 

Virgin Islands 9. .

O { 4 t.^4 oa/

593 593 591

348 348 341

199 199 198

78 46 40

124 118 117

342 162 157

367 367 365

708 707 699

194 194 192

636 636 624

125 125 124

429 429 418

7 7 7

109 76 73

256 235 232

61 61 61

486 360 336

156 156 155

159 159 155

554 552 551

401 401 400

52 51 49

628 621 611

18 1 0 8

138 138 134

173 173 172

294 294 289

1,099 1,099 1,083

52 52 50

55 49 48

280 280 280

97 93 92

182 182 181

580 576 573

63 63 63

1 1

1 1 11 7

3 2 1

32

6

180

33

26

172

o,ooy,yoi o ,ouy ,yoi 0 ,0 0 0 ,0 / 0

2,881,918 2,881,918 2,880,793

2,834,009 2,834,009 2,825,071

3,459,477 3,459,477 3,458,622

1,263,843 736,566 707,562

3,655,749 3,016,639 2,884,329

13,303,934 6,068,584 5,975,470

11,188,867 11,188,867 11,164,878

5,452,602 5,049,863 5,040,423

1,678,513 1,678,513 1,667,170

7,172,535 7,172,535 7,155,314

980,869 980,869 980,869

2,012,453 2,012,453 2,007,720

616,499 616,499 616,499

1,216,966 499,052 489,370

10,282,387 8,559,436 8,559,436

892,938 892,938 892,938

77,940,240 52,185,751 51,556,505

3,549,154 3,549,154 3,520,028

920,855 920,855 819,768

13,014,753 12,987,569 12,985,706

3,134,891 3,134,891 3,134,560

2,532,261 2,475,261 2,464,878

19,465,541 16,858,520 16,829,930

1,712,626 1,044,834 1,009,061

1,222,311 1,222,311 1,218,849

926,070 926,070 925,733

4,192,428 4,192,428 4,182,974

14,860,105 14,860,105 14,820,640

1,176,222 1,176,222 1,173,285

633,232 477,321 477,321

4,066,421 4,066,421 4,066,421

3,739,368 3,228,320 3,197,486

1,491,148 1,491,148 1,480,834

5,467,331 5,439,579 5,438,653

505,365 505,365 505,365

61,305 61,305 41,076

22,471 22,471

994,937 994,937 917,704

53,310 53,108 53,108

1,125

8,938

855

29,004

132,310

93,114

23,989

9,440

11,343

17,221

4,733

9,682

629,246

29,128

101,087

1,863

331

10,383

28,590

35,773

3,462

337

9,454

39,465

2,937

30,834

10,314

926

20,229

22,471

77,233

527,277

639,110

7,235,350

402,739

717,914

1,722,951

25,754,489

27,184

57,000

2,607,021

667,792

155,911 

511,048 

' 27,752

202

482,577

639,110

1,421,801

402,739

717,914

1,722,951

25,754,489

27,184

57,000

2,607,021

667,792

155,911

511,048 

’ 27,027

44,700

5,813,549

1 Data are as of December 31, 1963 for some noninsured banks.

2 Includes 17 noninsured banks of deposit (2 in Iowa, 1 2 in New York, 2 in Texas, and 1 in the Virgin Islands') for which data are not available.

3 Includes Puerto Rico and the Virgin Islands.

4 Includes Alaska, Hawaii, Pacific Islands, and the Panama Canal Zone.

6 Includes deposit data for 4 insured branches operated by 2 insured banks in Puerto Rico.

6.In United States possessions (American Samoa, Guam, Midway Islands, and Wake Island) and Trust Territories (Kwajalein, Palau Islands, Ponape Island, Saipan and Truk Atoll), 

consists ot deposit data for 1 noninsured bank in American Samoa and for the following branches: 1 noninsured branch on Truk Atoll (Moen Island) in the Caroline Islands and 4 ^ 

branches m the Mariana Islands (3 insured on Guam and 1 noninsured on Saipan) operated by an insured bank in California; and 1 insured branch on Guam and 6 noninsured branches to 

(, on v idv\ ay Islands, 1 on Koror Island Palau Islands, 2 in Marshall Islands Kwajalein Atoll, 1 on Ponape Island (Kolonia), and 1 on Wake Island) operated by an insured bank *^1

111 ilEWEll.

7 Consists of deposit data for 2 noninsured branches operated by 2 insured banks in New York.

8 Includes deposit data for 15 insured branches operated by 2 insured banks in New York.

9 Includes deposit data for 4 insured branches operated by an insured bank in New York.

Note: Data for the above branches are not included in the figures for the States in which tiie parent banks are located. 

hack figures: *ee the Annual Report for 1962, pp. 116 117, and earlier reports.

N U M BER, OFFICES, AND DEPOSITS OF B A N K S

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Federal Reserve Bank of St. Louis
A ssets a n d L ia bilities of B a n k s

Table 105. Assets and liabilities of all banks in the United States (States and other areas), 

June 29, 1963

Banks grouped according to insurance statics and type of bank

Table 106. Assets and liabilities of all banks in the United States (States and other areas), 

December 20, 1963

Banks grouped according to insurance status and type of bank

Table 107. Assets and liabilities of all banks in the United States (States and other areas), 

December 20, 1963 

Banks grouped by district and State

Table 108. Assets and liabilities of all insured banks in the United States (States and other 

areas), call dates June 30, 1961 through December 20, 1963 

Table 109. Assets and liabilities of insured commercial and insured mutual savings banks in 

the United States (States and other areas), call dates September 28, 1962 through 

December 20, 1963

Table 110. Average assets and liabilities and assets and liabilities per $100 of total assets of 

insured commercial banks in the United States (States and other areas), 1963 

By class of bank

Tabel 111. Assets and liabilities and assets and liabilities per $100 of total assets of insured 

commercial banks operating throughout 1963 in the United States (States and 

other areas), December 20, 1963 

Banks grouped according to amount of deposits

Table 112. Average assets and liabilities of insured commercial banks in the United States 

(States and other areas), by State, 1963 

Table 113. Distribution of insured commercial banks in the United States (States and other 

areas), December 20, 1963

Banks grouped according to amount of deposits and by ratios of selected items

to assets

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Federal Reserve Bank of St. Louis
Statements of assets and liabilities are submitted by insured commercial banks upon either a cash or an accrual basis, depending upon

the bank’s method of bookkeeping. Assets reported represent aggregate book value, on the date of call, less valuation and premium

reserves.

Assets and liabilities held in or administered by a savings, bond,

insurance, real estate, foreign, or any other department of a bank,

except a trust department, are consolidated with the respective assets

and liabilities of the commercial department. “Deposits of individuals,

partnerships, and corporations” include trust funds deposited by a

trust department in a commercial or savings department. Other assets

held in trust are not included in statements of assets and liabilities.

In the case of banks with one or more domestic branches, the assets

and liabilities reported are consolidations of figures for the head office

and all domestic branches. In the case of a bank with foreign branches,

net amounts due from its own foreign branches are included in “Other

assets,” and net amounts due to its own foreign branches are included

in “Other liabilities.” Branches outside the 50 States of insured banks

in the United States are treated as separate entities but as in the

case of other branches are not included in the count of banks. Data

for such branches are not included in the figures for the States in

which the parent banks are located.

Demand balances with and demand deposits due to banks in the

United States, except private banks and American branches of foreign

banks, exclude reciprocal interbank deposits. Reciprocal interbank

deposits arise when two banks maintain deposit accounts with each

other.

Individual loan items are reported gross instead of net of valuation

reserves. Accordingly, reserves for losses on loans are shown separately.

Instalment loans are ordinarily reported net if the instalment payments are applied directly to the reduction of the loan. Such loans are

reported gross if, under contract, the payments do not immediately

reduce the unpaid balances of the loan but are assigned or pledged to

assure repayment at maturity.

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.

Additional data on assets and liabilities of all banks as of June 29,

1963, and December 20, 1963, and all insured banks as of March 18,

1963, are shown in the Corporation’s semiannual publication, “Assets,

Liabilities, and Capital Accounts, Commercial and Mutual Savings

Banks,” Report of Calls No. 63 and No. 64, and Report of Call No. 66.

Data from Call No. 65, September 30, 1963, were not tabulated for

all insured banks. Comparable tabulations for State and national

banks were not feasible because of a change in the form used for

national institutions.

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; and reports from

individual banks.

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Federal Reserve Bank of St. Louis
Table 105. A s s e t s a n d L i a b i l i t i e s o f A l l B a n k s i n t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), J u n e 29, 1963

BANKS GROUPED ACCORDING TO INSURANCE STATUS AND TYPE OF BANK

(Amounts in thousands of dollars)

Asset, liability, or capital account item

All banks

Commercial and stock savings banks and 

nondeposit trust companies Mutual savings banks

Noninsured Total Insured

Noninsured

t NonTotal I Insured insured

Banks of 

deposit

Nondeposit 

trust 

companies 1

Total Insured

349,083,052 340,388,582 8,694,470 301,062,525 298,808,700 1,991,976 261,849 48,020,527 41,579,882 6,440,645

Cash, balances with other banks, and cash

collection item s—total............................... 52,199,261 51,665,841 533,420 51,309,072 50,877,148 392,567 39,357 890,189 788,693 101,496

Currency and coin............................................... 3,637,881 3,596,056 41,825 3,505,837 3,486,794 17,649 1,394 132,044 109,262 22,782

16,529,350 16,529,350 16,529 350 16,529,350

Demand balances with banks in U. S............... 12,720,762 12,321,213 399,549 12,207,875 11,876,629 300,622 30,624 512,887 444,584 68,303

Other balances with banks in U. S.................... 620,118 575,162 44,956 433,317 388,686 40,862 3,769 186,801 186,476 325

252,372 245,254 7,118 252,372 245,254 6,339 779

Cash items in process of collection.................... 18,438,778 18,398,806 39,972 18,380,321 18,350,435 27,095 2,791 58,457 48,371 10,086

Securities— total................................................... 107,891,759 104,812,930 3,078,829 96,159,789 95,217,591 790,836 151,362 11,731,970 9,595,339 2,136,631

U. S. Gov’t, obligations (incl. guaranteed). . . . 69,841,630 67,667,433 2,174,197 63,675,682 63,122,231 493,504 59,947 6,165,948 4,545,202 1,620,746

Obligations of States and subdivisions............. 28,323,415 28,037,856 285,559 27,863,131 27,610,889 211,364 40,878 460,284 426,967 33,317

Securities of Federal agencies and corporations

(not guaranteed by U. S .).......................... 3,623,117 3,597,544 25,573 2,994,936 2,973,360 21,533 43 628,181 624,184 3,997

Other bonds, notes, and debentures.................. 4,202,855 3,909,101 293,754 832,398 780,871 46,396 5,131 3,370,457 3,128,230 242,227

Corporate stocks................................................. 1,900,742 1,600,996 299,746 793,642 730,240 18,039 45,363 1,107,100 870,756 236,344

Loans and discounts, net—total..................... 180,398,144 175,498,110 4,900,034 145,732,928 144,965,172 726,410 41,346 34,665,216 30,532,938 4,132,278

Valuation reserves................................................... 3,253,605 3,226,382 27,223 3,018,350 3,010,546 7,747 57 235,255 215,836 19,419

Loans and discounts, gross— tota l.................. 183,651,749 178,724,492 4,927,257 148,751,278 147,975,718 734,157 41,403 34,900,471 30,748,774 4,151,697

Real estate loans—total..................................... 71,247,490 67,032,568 4,214,922 36,938,610 36,768,959 154,542 15,109 34,308,880 30,263,609 4,045,271

Secured by farm land....................................... 2,290,986 2,266,236 24,750 2,240,872 2,221,058 18,968 846 50,114 45,178 4,936

Secured by residential properties:

Insured by FH A........................................... 16,883,437 16,255,516 627,921 6,860,820 6,830,269 26,597 8,954 10,022,617 9,425,247 597,370

Insured or guaranteed by V A ...................... 13,055,768 12,054,896 1,000,872 2,837,431 2,803,323 83,485 623 10,218,337 9,251,573 966,764

Not insured or guaranteed by FHA or VA . 25,987,706 23,930,946 2,056,760 15,259,523 15,199,048 63,816 6,659 10,728,183 8,731,898 1,996,285

Secured by other properties.............................. 13,029,593 12,524,974 504,619 9,739,964 9,715,261 21,676 3,027 3,289,629 2,809,713 479,916

Loans to commercial and foreign banks.......... 1,946,741 1,915,015 31,726 1,935,523 1,903,897 31,596 30 11,218 11,118 1 0 0

Loans to other financial institutions................. 8,675,971 8,646,348 29,623 8,671,451 8,641,977 29,374 1 0 0 4,520 4,371 149

Loans to brokers and dealers in securities....... 4,660,503 4,629,754 30,749 4,645,504 4,614,755 21,874 8,875 14,999 14,999

Other loans for carrying securities.................... 2,242,494 2,211,103 31,391 2,234,816 2,204,117 25,311 5,388 7,678 6,986 692

Loans to farmers directly guaranteed by the

Commodity Credit Corporation .............. 802,359 799,576 2,783 802,359 799,576 2,783

Other loans to farmers (excl. real estate) 6,758,080 6,733,102 24,978 6,755,624 6,730,646 24,771 207 2,456 I 2,456

Commercial and industrial loans....................... 50,298,796 50,022,702 276,094 50,141,403 49,868,910 264,989 7,504 157,393 153,792 3,601

Other loans to individuals.................................. 33,178,869 32,921,628 257,241 32,802,076 32,639,569 160,709 1,798 376,793 282,059 94,734

All other loans (including overdrafts).............. 3,840,446 3,812,696 27,750 3,823,912 3,803,312 18,208 2,392 16,534 9,384 7,150

Miscellaneous assets—to ta l.............................. 8,593,888 8,411,701 182,187 7,860,736 7,748,789 82,163 29,784 733,152 662,912 70,240

Bank premises owned, furniture and fixtures. . 4,024,073 3,960,921 63,152 3,703,376 3,682,068 13,584 7,724 320,697 278,853 41,844

Other real estate—direct and indirect.............. 485,309 467,336 17,973 454,998 444,795 2,729 7,474 30,311 22,541 7,770

All other miscellaneous assets............................ 4,084,506 3,983,444 101,062 3,702,362 3,621,926 65,850 14,586 382,144 361,518 20,626

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Total liabilities and capital accounts................

Business and personal deposits—total..........

Individuals, partnerships, and corporations—

demand.....................................................

Individuals, partnerships, and corporations—

time...........................................................

Savings deposits................................................

Deposits accumulated for payment of personal

loans..........................................................

Other deposits of individuals, partnerships,

and corporations.......................................

Certified and officers’ checks, letters of credit, 

and travelers’ checks, etc............................

Government deposits—total.............................

United States Government—demand...............

United States Government—time.....................

States and subdivisions—demand.....................

States and subdivisions—time...........................

Domestic interbank and postal savings deposits—total ..................................................

Commercial banks in the U. S.—demand........

Commercial banks in the U. S.—time..............

Mutual savings banks in the U. S.—demand..

Mutual savings banks in the U. S.—time........

Postal savings . .................... ..............

349,083,052 340,388,582 8,694,470 301,062,525 I 298,808,700 1,991,976 261,849 48,020,527 41,579,882 6,440,645

259,919,728

116,735,180

138,653,986

117,471,566

792,285

20,890,145

4,530,562

253,187,093

116,024,030

132,715,299 

111,621,506

790,380

20,303,413

4,447,764

6,732,635

711,150

5,938,687

5,850,050

1,905

86,782

82,798

216,703,415

116,424,842

95,756,603

74,599,192

791,558

20,365,858

4,521,970

215,632,887

115,731,286

95,462,429

74,390,626

789,648

20,282,155

4,439,172

976,362

620,910

272,666 

201,586

1,905

69,175

82,786

94,166

72,646

21,508

6,980

14,528

1 2

43,216,313

310,338

42,897,383

42,872,864

782

24,287

8,592

37,554,206

292,744

37,252,870

37,230,880

732

21,258

8,592

5,662,107

17,594

5,644,513

5,641,484

3,029

31,372,284

11,090,245

254,245

12,491,924

7,535,870

31,127,763

11,026,837

250,834

12,388,673

7,461,419

244,521

63,408

3,411

103,251

74,451

31,341,173 I 31,098,068

11,031,616 I 11,019,039 

254,209 1 250,798 

12,489,900 fl 12,386,649 

7,515,448 7,441,582

241,092

60,565

3,411

103,250

73,866

2,013

2 , 0 1 2

1

31,111

8,629

36

2,024

20,422

29,695

7,798

36

2,024

19,837

1,416

831

585

14.232.711

12.963.712 

289,734 

813,446 

148,555

17,264

13,980,532

12,924,632

281,667

710,091

46,888

17,254

252,179

39,080

8,067

103,355

101,667

1 0

14,231,533

12,963,687

288,581

813,446

148,555

17,264

13,979,354

12,924,607

280,514

710,091

46,888

17,254

252,035

38,936

8,067

103,355

101,667

1 0

144

144

1,178

25

1,153

1,178

25

1,153

Foreign government and bank deposits—

total................................................................. 4,930,950

631,699

2,884,174

1,293,937

121,140

4,854,482

626,447

2,856,924

1,264,201

106,910

76,468

5,252

27,250

29,736

14,230

4,930,950

631,699

2,884,174

1,293,937

121,140

4,854,482

626,447

2,856,924

1,264,201

106,910

76,427

5,213

27,250

29,734

14,230

41

39

Foreign governments, central banks, etc.— 

dem and.................... .

Foreign governments, central banks, etc.— 

time ........

Banks in foreign countries—demand................

Banks in foreign countries—time......................

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

2

310,455,673

160,550,705

149,904,968

303,149,870

159,412,675

148,787,195

7,305,803

1,188,030

6,167,773

267,207,071

160,221,097

106,985,974

265,564,791

159,101,492

106,463,299

1,545,916

1,044,749

501,167

96,364

74,856

21,508

43,248,602

329,608

42,918,994

37,585,079

811,183

37,273,896

5,663,523

18,425

5,645,098

9,936,459

1,565,145

8,371,314

9,589,877

1,516,411

8,073,466

346,582

48,734

297,848

9,195,443

1,546,345

7,649,098

9,009,288

1,499,211

7,510,077

166,592

45,231

121,361

19,563

1,903

17,660

741,016

18,800

722,216

580,589

17,200

563,389

160,427

1,600

158,827

320,392,132 312,739,747 7,652,385 276,402,514 J 274,574,079 1,712,508 115,927 43,989,618 I 38,165,668 5,823,950

28,690,920

88,354

7,239,903

14,759,220

6,603,443

27,648,835

58,354

7,114,162

14,258,908

6,217,411

1,042,085

30,000

125,741

500,312

386,032

24,660,011 1 24,234,621 

88,204 [ 58,204 

7,239,903 fl 7,114,162 

11,979,056 1 11,819,350 

5,352,848 I 5,242,905

279,468

30,000

83,191

92,234

74,043

145,922

42,550

67,472

35,900

4,030,909 1 3,414,214 

150 1 150

616,695

Surplus.................................................................

Undivided profits and reserves..........................

2,780,i64 I 2,439,558 

1,250,595 J 974,506

340,606

276,089

Number of banks 2 ...................................................... 14,006 13,527 479 13,494 1 13,196 248 50 512 1 331 181

1 Amounts shown as deposits are special accounts and uninvested trust funds with the latter classified as demand deposits of individuals, partnerships, and corporations. 

* Includes 14 noninsured banks of deposit for which asset and liability data are not available.

Back figures: See the Annual Report for 1962, pp. 120-121, and earlier reports.

ASSETS AND LIABILITIES OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 106. A s s e t s a n d L i a b i l i t i e s o f A l l B a n k s in t h e U n i t e d S t a t e s ( S t a t e s a n d O t h e r A r e a s ) , D e c e m b e r 20, 1963 1

b a n k s g r o u p e d a c c o r d in g t o in s u r a n c e s t a t u s a n d t y p e o f b a n k

(Amounts in thousands of dollars)

Asset, liability, or capital account item

All banks

Commercial and stock savings banks and 

nondeposit trust companies Mutual savings banks

Total Insured

Noninsured Total Insured

Nonir

Banks of 

deposit

isured

Nondeposit 

trust 

companies 2

Total Insured

Noninsured

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

Cash, balances with other banks, and cash

collection items— total...............................

Currency and coin...............................................

Reserve with F. R. banks (member banks). . . .

Demand balances with banks in U. S...............

Other balances with banks in U. S....................

Balances with banks in foreign countries.........

Cash items in process of collection...................

Securities— total...................................................

U. S. Gov’t, obligations (incl. guaranteed). . . .

Obligations of States and subdivisions.............

Securities of Federal agencies and corporations

(not guaranteed by U. S .)..............................

Other bonds, notes, and debentures..................

Corporate stocks.................................................

Loans and discounts, net— total.....................

Valuation reserves...................................................

Loans and discounts, gross—total..................

Real estate loans—total.....................................

Secured by residential properties:

Insured by FHA...........................................

Insured or guaranteed by V A ......................

Not insured or guaranteed by FHA or VA .

Secured by other properties..............................

Loans to commercial and foreign banks...........

Loans to other financial institutions.................

Loans to brokers and dealers in securities.......

Other loans for carrying securities....................

Loans to farmers directly guaranteed by the

Commodity Credit Corporation....................

Other loans to farmers (excl. real estate).........

Commercial and industrial loans.......................

Other loans to individuals..................................

All other loans (including overdrafts)..............

Miscellaneous assets—total..............................

Bank premises owned, furniture and fixtures. . 

Other real estate—direct and indirect..............

363,677,624 354,809,831 8,867,793 314,055,989 311,790,848 1,995,391 269,750 49,621,635 43,018,983 6,602,652

51,677,082

4,200,855

17,149,613

12,470,149

541,123

308,900

17,006,442

51,166,975

4,157,140

17,149,613

12,086,463

508,860

298,992

16,965,907

510,107

43,715

50,851,157

4,071,051

17,149,613

11,956,932

399,995

308,900

16,964,666

50,445,462

4,053,057

17,149,613

11,644,517

367,817

298,992

16,931,466

366,631

16,608

39,064

1,386

825,925

129,804

721,513

104,083

104,412

25,721

383,686

32,263

9,908

40,535

282,025

28,252

9,633

30,113

30,390

3,926

275

3,087

513,217

141,128

41,776

441,946

141,043

34,441

71,271

85

7,335

109,802,755

69,223,331

30,288,340

4,242,185

4,061,148

1,987,751

106,836,622

67,135,755

30,022,176

4,215,668

3,787,856

1,675,167

2,966,133

2,087,576

266,164

26,517

273,292

312,584

98,392,612

63,351,799

29,847,476

3,526,542

837,401

829,394

97,472,029

62,811,737

29,611,314

3,503,243

784,083

761,652

764,349

480,335

197,340

22,566

46,317

17,791

156,234

59,727

38,822

733

7,001

49,951

11,410,143

5,871,532

440,864

715,643

3,223,747

1,158,357

9,364,593

4,324,018

410,862

712,425

3,003,773

913,515

2,045,550

1,547,514

30,002

3,218

219,974

244,842

193,442,024

3,240,542

196,682,566

75,463,419

2,375,207

17,742,438

13,336,247

27,946,331

14,063,196

3,621,097

9,512,163

5,382,195

2,522,619

821,039

6,669,397

53,425,925

35,195,876

4,068,836

188,232,982

3,213,551

191,446,533

70,980,241

2,350,099

17,016,748

12,317,825

25,767,552

13,528,017

3,610,250

9,448,495

5,349,920

2,488,339

816,838

6,647,074

53,144,882

34,919,957

4,040,537

5,209,042

26,991

5,236,033

4,483,178

25,108

725,690

1,018,422

2,178,779

535,179

10,847

63,668

32,275

34,280

4,201

22,323

281,043

275,919

28,299

156,762,522

3,003,146

159,765,668

39,286,646

2,323,381

7,092,692

2,860,581

16,444,535

10,565,457

3,605,480

9,505,021

5,357,917

2,510,310

821,039

6,666,898

53,259,401

34,708,095

4,044,861

155,933,367

2,994,811

158,928,178

39,088,205

2,303,251

7,047,238

2,817,152

16,380,889

10,539,675

3,594,633

9,441,479

5,325,642

2,476,760

816,838

6,644,575

52,984,200

34,531,746

4,024,100

784,583

8,243

792,826

183,714

19,118

42,214

43,074

56,916

22,392

10,838

63,242

21,556

28,267

4,201

22,106

265,924

174,520

18,458

44,572

92

44,664

14,727

1,012

3,240

355

6,730

3,390

9

300

10,719

5,283

217

9,277

1,829

2,303

36,679,502

237,396

36,916,898

36,176,773 

51,826

10,649,746

10,475,666

11,501,796

3,497,739

15,617

7,142

24,278

12,309

2,499

166,524

487,781

23,975

32,299,615

218,740

32,518,355

31,892,036

46,848

9,969,510

9,500,673

9,386,663

2,988,342

15,617

7,016

24,278

11,579

2,499

160,682

388,211

16,437

4,379,887

18,656

4,398,543

4,284,737

4,978

680,236

974,993

2,115,133

509,397

..........i26

730

5,842

99,570

7,538

8,755,763

4,299,877

491,018

3,964,868

8,573,252

4,2,85,562

472,135

3,865,555

182,511

64,315

18,883

99,313

8,049,698

3,967,192

459,235

3,623,271

7,939,990

3,945,490

449,310

3,545,190

79,828

14,001

2,737

63,090

29,880

7,701

7,188

14,991

706,065

332,685

31,783

341,597

633,262

290,072

22,825

320,365

72,803

42,613

8,958

21,232

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Total liabilities and capital accounts................

Business and personal deposits—total..........

Individuals, partnerships, and corporations—

demand.........................................................

Individuals, partnerships, and corporations—

time...............................................................

Savings deposits................................................

Deposits accumulated for payment of personal

loans..........................................................

Other deposits of individuals, partnerships,

and corporations.......................................

Certified and officers’ checks, letters of credit, 

and travelers’ checks, etc............................

363,677,624 354,809,831 8,867,793 314,055,989 311,790,848 1,995,391 269,750 49,621,635 43,018,983 6,602,652

273,601,434

124,561,291

144,518,476

120,792,950

838,727

22,886,799

4,521,667

266,669,373

123,842,677

138,370,425

114,738,550

837,081

22,794,794

4,456,271

6,932,061

718,614

6,148,051

6,054,400

1,646

92,005

65,396

229,116,591

124,272,343

100,330,888

76,619,645

838,096

22,873,147

4,513,360

228,042,312

123,561,302

100,033,046

76,413,701

836,450

22,782,895

4,447,964

974,764

635,757

273,618

195,873

1,646

76,099

65,389

99,515

75,284

24,224

10,071

14,153

7

44,484,843

288,948

44,187,588

44,173,305

631

13,652

8,307

38,627,061

281,375

38,337,379

38,324,849

631

11,899

8,307

5,857,782

7,573

5,850,209

5,848,456

1,753

Government deposits—total.............................

United States Government—-demand...............

United States Government—time.....................

States and subdivisions—demand.....................

States and subdivisions—time...........................

Domestic interbank and postal savings deposits—total ..................................................

Commercial banks in the U. S.—demand........

Commercial banks in the U. S.—time..............

Mutual savings banks in the U. S.—demand..

Mutual savings banks in the U. S.—time........

Postal savings......................................................

27,374,205

6,759,062

271,714

12,363,606

7,979,823

27,171,277

6,734,239

268,300

12,263,435

7,905,303

202,928

24,823

3,414

100,171

74,520

27,344,044

6,753,379

271,617

12,361,560

7,957,488

27,142,510

6,729,214

268,203

12,261,389

7,883,704

200,865

23,496

3,414

100,171

73,784

669

669

30,161

5,683

97

2,046

22,335

28,767

5,025

97

2,046

21,599

1,394

658

736

14,493,776

13,358,838

275,960

723,982

117,558

17,438

14,270,000

13,323,112

269,914

610,294

49,252

17,428

223,776

35,726

6,046

113,688

68,308

1 0

14,492,540

13,358,806

274,756

723,982

117,558

17,438

14,268,764

13,323,080

268,710

610,294

49,252

17,428

223,614

35,564

6,046

113,688

68,306

1 0

162

162

1,236

32

1,204

1,236

32

1,204

Foreign government and bank deposits—

total.................................................................

Foreign governments, central banks, etc.—

demand.........................................................

Foreign governments, central banks, etc.—

time...............................................................

Banks in foreign countries—demand................

Banks in foreign countries—time......................

5,276,519

847,436

3,068,718

1,218,988

141,377

5,193,098

841,612

3,045,448

1,177,311

128,727

83,421

5,824

23,270

41,677

12,650

5,276,464

847,414

3,068,685

1,218,988

141,377

5,193,043

841,590

3,045,415

1,177,311

128,727

83,375

5,780

23,270

41,675

12,650

46

44

2

55

2 2

33

55

2 2

33

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

320,745,934

164,354,870

156,391,064

313,303,748

163,248,951

150,054,797

7,442,186

1,105,919

6,336,267

276,229,639

164,049,832

112,179,807

274,646,629

162,952,144

111,694,485

1,482,618

1,021,520

461,098

100,392

76,168

24,224

44,516,295

305,038

44,211,257

38,657,119

296,807

38,360,312

5,859,176

8,231

5,850,945

12,968,853

3,707,702

9,261,151

12,612,070

3,614,177

8,997,893

356,783

93,525

263,258

12,068,292

3,670,005

8,398,287

11,821,823

3,576,530

8,245,293

223,387

91,447

131,940

23,032

2,028

21,054

900,561

37,697

862,864

790,247

37,647

752,600

110,314

50

110,264

333,714,787 325,915,818 7,798,969 288,297,931 286,468,452 1,706,005 123,474 45,416,856 39,447,366 5,969,490

29,962,837

206,986

7,408,909

15,155,048

7,191,894

28,894,013

168,386

7,282,680

14,637,286

6,805,661

1,068,824

38,600

126,229

517,762

386,233

25,758,058

206,453

7,408,909

12,328,252

5,814,444

25,322,396

167,853

7,282,680

12,163,471

5,708,392

289,386

38,400

82,634

96,664

71,688

146,276

2 0 0

43,595

68,117

34,364

4,204,779

533

3,571,617

533

633,162

Surplus.................................................................

Undivided profits and reserves.......................... 2,826,796

1,377,450

2,473,815

1,097,269

352,981

280,181

Number of banks 8 ...................................................... 14,093 13,621 472 13,583 13,291 243 49 510 330 180

1 Data are as of December 31, 1963 for some noninsured banks.

2 Amounts shown as deposits are special accounts and uninvested trust funds, with the latter classified as demand deposits of individuals, partnerships, and corporations.

3 Includes 17 noninsured banks of deposit for which asset and liability data are not available.

Back figures, 1934-1962: See the preceding table and the Annual Report for 1962, pp. 122-123, and earlier reports.

ASSETS AND LIABILITIES OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T ab le 107. A ssets and Lia b ilit ie s of A ll B anks in the U nited States (States and Other A reas), D ecember 20, 1963 1

BANKS GROUPED BY DISTRICT AND STATE

(Amounts in thousands of dollars)

Assets Liabilities and capital accounts

FDIC District 

and State

NumDeposits

ber of 

banks 2

Cash and 

due from 

banks

U.S. Government 

obligations

Other

securities

Loans, discounts, and 

overdrafts

Miscellaneous

assets

Total

Business 

and 

personal *

Government 4

Foreign 

gov’t, 

and 

interbank 6

Miscellaneous

liabilities

Total

capital

accounts

Total United States.. . 14,093 51,677,082 69,223,331 40,579,424 193,442,024 8,755,763 363,677,624 273,601,434 27,374,205 19,770,295 12,968,853 29,962,837

50 States and D. C .. . . 14,078 51,534,115 69,063,093 40,496,163 192,669,833 8,606,347 362,369,551 272,714,843 27,171,247 19,727,821 12,875,930 29,879,710

Other areas.................. 15 142,967 160,238 83,261 772,191 149,416 1,308,073 886,591 202,958 42,474 92,923 83,127

FDIC District

District 1 .................... 737 2,260,444 4,965,621 2,687,127 17,112,587 461,460 27,487,239 22,389,958 1,168,073 601,532 791,795 2,535,881

District 2 0 .................. 778 13,047,711 14,208,988 12,288,579 61,809,287 3,330,697 104,685,262 77,019,513 5,275,068 7,962,003 5,730,856 8,697,822

District 3 .................... 1,182 4,842,330 7,567,448 5,204,533 18,702,979 620,887 36,938,177 28,663,795 2,624,295 1,192,204 1,190,741 3,267,142

District 4 .................... 894 2,793,834 3,959,982 1,808,055 8,978,305 408,564 17,948,740 13,621,586 1,563,073 733,083 503,729 1,527,269

District 5 .................... 1,245 2,780,066 3,693,901 1,652,164 7,027,886 373,508 15,527,525 11,270,253 1,748,410 855,343 341,088 1,312,431

District 6 .................... 1,520 3,303,414 4,008,065 1,854,280 8,273,123 265,452 17,704,334 12,851,657 1,511,507 1,538,992 297,488 1,504,690

District 7 .................... 1,388 3,494,970 6,486,477 2,579,531 11,526,845 413,141 24,500,964 19,083,532 2,302,335 693,908 574,134 1,847,055

District 8 .................... 1,683 4,016,307 6,686,717 3,674,069 13,054,212 427,605 27,858,910 20,893,859 2,142,819 1,786,932 728,745 2,306,555

District 9 .................... 1,165 1,286,279 2,270,754 1,014,432 4,429,198 180,508 9,181,171 6,944,893 875,376 460,127 156,589 744,186

District 10.................. 1,713 2,276,422 2,929,278 1,157,409 5,817,729 213,867 12,394,705 9,011,647 1,373,682 681,960 206,617 1,120,799

District 11.................. 1,372 4,670,578 4,697,519 2,266,791 11,219,980 639,836 23,494,704 16,609,566 2,503,195 1,840,527 636,006 1,905,410

District 127 ................ 416 6,904,727 7,748,581 4,392,454 25,489,893 1,420,238 45,955,893 35,241,175 4,286,372 1,423,684 1,811,065 3,193,597

State

Alabama...................... 242 484,039 654,894 356,763 1,309,035 49,593 2,854,324 2,156,544 297,091 102,957 45,289 252,443

Alaska......................... 13 35,780 70,573 19,078 147,189 9,516 282,136 185,201 72,138 2,217 3,547 19,033

Arizona........................ 13 252,414 274,829 142,670 1,206,270 71,739 1,947,922 1,489,445 226,821 24,502 72,139 135,015

Arkansas..................... 242 362,519 373,398 259,813 851,138 28,980 1,875,848 1,446,495 157,857 98,832 16,733 155,931

California.................... 155 5,348,877 5,622,263 3,366,717 19,431,388 1,095,587 34,864,832 26,752,023 3,022,761 1,205,831 1,545,253 2,338,964

Colorado..................... 227 503,732 589,206 191,748 1,480,519 67,752 2,832,957 2,150,444 245,601 136,617 65,647 234,648

Connecticut................ 135 530,528 882,827 1,003,365 4,287,880 103,234 6,807,834 5,679,866 292,169 56,927 186,585 592,287

Delaware..................... 2 2 157,955 224,041 146,509 578,880 22,537 1,129,922 904,336 70,646 10,728 28,260 115,952

District of Columbia.. 14 382,980 550,738 96,542 1,064,359 38,998 2,133,617 1,746,510 46,934 139,515 44,616 156,042

Florida........................ 385 1,138,284 1,898,925 668,389 2,826,205 198,566 6,730,369 4,876,844 792,762 360,892 145,526 554,345

Georgia........................ 424 812,051 770,111 341,343 2,064,808 8 8 , 1 2 0 4,076,433 2,880,441 448,906 279,056 114,524 353,506

1 2 91,647 178,855 81,375 535,452 37,776 925,105 632,572 155,494 2 0 , 0 2 0 28,373 88,646

27 113,792 174,688 75,671 448,830 18,404 831,385 663,197 86,986 4,665 15,364 61,173

Illinois......................... 1,009 3,408,393 5,650,400 3,272,788 11,051,192 376,644 23,759,417 17,707,063 1,840,684 1,615,902 670,537 1,925,231

Indiana........................ 441 950,108 1,834,997 484,446 2,712,781 100,838 6,083,170 4,608,428 650,656 164,493 151,020 508,573

Iowa............................ 674 607,914 1,036,317 401,281 2,003,020 50,961 4,099,493 3,186,796 302,135 171,030 58,208 381,324

Kansas........................ 593 501,985 868,306 412,430 1,394,999 37,440 3,215,160 2,235,704 526,091 120,123 33,935 299,307

Kentucky....................

Louisiana....................

348 602,022 831,629 257,456 1,417,459 43,214 3,151,780 2,333,968 282,526 217,515 33,350 284,421

199 762,465 979,033 399,429 1,628,649 65,361 3,834,937 2,633,362 526,852 299,263 58,347 317,113

Maine.......................... 78 113,062 286,200 173,667 834,871 26,608 1,434,408 1,194,989 56,332 12,522 28,995 141,570

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Maryland........

Massachusetts.

Michigan.........

Minnesota.......

Mississippi. . . .

Missouri..............

Montana............

Nebraska............

Nevada................

New Hampshire.

New Jersey.......

New M exico... .

New York 8 .......

North Carolina. 

North Dakota. .

Ohio...............

Oklahoma. . . .

Oregon...........

Pennsylvania. 

Rhode Island.

South Carolina. 

South Dakota. .

Tennessee..........

Texas.................

Utah..................

Vermont........

Virginia.........

Washington. . . 

West Virginia. 

Wisconsin 

Wyoming

Other area

Pacific Islands 9. . . 

Panama Canal Zone 10.

Puerto Rico 11.......

Virgin Islands 12...

124 

342 

367 

708 

194

636

125 

429

7

109

256

61

486

156

159

554

401

52

628

18

138

173

294

1,099

52

55

280

97

182

580

63

512,885

1,339,716

1,661,107

885,970

345,692

1,446,792

158,267

436,536

78,726

87,031

1,148,341

158,110

11,619,980

732.754 

105,918

2,146,456

730,256

427,324

2,695,874

141,428

253,550

136,124

892,081

3,497,589

213,335

48,679

663,876

573,714

247,789

883.755 

103,913

19,809

1,723

117,280

4,155

937,122

3,215,091

3,013,138

1,383,312

369,971

1,898,596

279,247

498,025

139,092

239,591

2,192,393

252,321

11,633,286

662,949

308,760

3,419,778

820,292

534,156

4,147,670

219,309

318,883

299,435

904,442

3,191,336

210,886

122,603

927,985

817,098

562,305

1,638,342

153,449

970

154,514

4,754

440,905

1,043,769

1,537,532

644,846

285,669

860,357

114,392

184,685

70,137

109,748

1,768,672

66,573

10,290,137

495,411

170,662

1,520,657

331,249

280,810

3,683,876

304,235

165,302

84,532

476,654

1,658,119

107,372

52,343

467,702

391,294

142,193

557,553

37,297

81,955

1,306

2,085,791

9,343,258

5,965,917

3,015,126

827,838

3,698,999

508,937

1,113,931

369,122

931,587

6,120,156

482,982

54,359,474

2,068,105

420,265

7,396,651

1,575,087

1,472,081

11,306,328

1,239,004

625,626

484,870

2,305,527

7,902,079

768,501

475,987

2,418,883

2,295,916

715,541

2,848,147

253,193

20,237

1,177

716,807

33j970

115,670

270,529

211,510

123,715

37.229

114,205

21,145

32,437

23,818

22,433

196,601

19,616

3,004,105

105,520

18,869

239,202

64,566

76,451

381,685

27,645

28,863

16,779

79,053

483,120

22,036

11,011

88.230 

94,688 

31,283

100,793

11,672

22,372

19,590

94,779

12,675

4,092,373

15,212,363

12,389,204

6,052,969

1,866,399

8,018,949

1,081,988

2,265,614

680,895

1,390,390

11,426,163

979,602

90,906,982

4.064.739 

1,024,474

14,722,744

3,521,450

2,790,822

22,215,433

1,931,621

1,392,224

1.021.740 

4,657,757

16,732,243

1,322,130

710,623

4,566,676

4,172,710

1,699,111

6,028,590

559,524

63,388

22,490

1,165,335

56,860

3,241,573

12,164,350

9,610,169

4,565,479

1,356,424

5,745,156

830,656

1,638,331

517,112

1,143,716

9,403,855

690,903

65,866,143

2,823,302

764,016

11,356,318

2,570,226

2,157,091

17,307,477

1,610,442

1,004,353

784,742

3.326.038 

11,795,856

950,599

596,595

3,509,809

3,341,968

1.296.039 

4,864,935

416,942

29,196

12,216

808,034

37,145

321,666

636,686

1,274,240

492,398

209,651

645,346

116,846

194,999

95,083

61,302

790,433

181,350

4,253,009

463,491

140,616

1,260,802

334,383

337,228

1,363,493

86,921

182,760

125,516

425,778

1,568,172

181,947

34,663

390,471

292,757

157,751

377,439

72,608

31,887

10,091

145,040

15,940

92,510

502,898

304,458

394,725

112,438

782,033

33,367

179,123

4,304

11,948

88,099

20,685

7,821,088

262,361

16,223

397,633

230,282

37,942

794,571

15,263

35,198

15,812

440,612

1,496,077

43,676

1,974

166,141

104,643

37,358

224,957

15,815

222

164

41,863

225

94,495

461,225

325,271

107,498

35,749

152,163

22,738

46,446

17,600

35,662

286,634

15,036

5,324,304

185,234

12,552

475,053

53,518

54,812

715,688

63,732

41,826

13,801

95,242

490,484

46,783

15,596

107,981

98,068

29,577

97,843

7,071

1,246

19

90,076

1,582

342,129

1.447.204 

875,066 

492,869 

152,137

694,251

78,381

206,715

46,796

137,762

857,142

71,628

7,642,438

330,351

91,067

1,232,938

333,041

203,749

2.034.204 

155,263

128.087 

81,809

370.087 

1,381,654

99,125

61,795

392.274

335.274 

178,386 

463,416

47,088

837

80,322

1,968

1 Data are as of December 31, 1963 for some noninsured banks.

2 Includes 17 noninsured banks of deposit (2 in Iowa, 12 in New York, 2 in Texas, and 1 in the Virgin Islands) for which data are not available, 

s Demand and time deposits of individuals, partnerships, and corporations, certified and officers’ checks, letters of credit, etc.

4 Deposits of the United States Government and of States and subdivisions.

6 Includes postal savings deposits.

6 Includes Puerto Rico and the Virgin Islands.

7 Includes Alaska, Hawaii, Pacific Islands, and the Panama Canal Zone.

8 Includes asset and liability data for 4 insured branches operated by 2 insured banks in Puerto Rico.

3 T M TT M J CS w <-vv> rs / A a m — O — _~ — /'I_____ ^ i4T * _ T 1 1 1 TTT 1 T 1 “ ' --- --

branches (1 on Midway Islands, 1 on Koror Island—Palau Islands, 2 in Marshall Islands—Kwajalein Atoll, 1 on Ponape Island (Kolonia) and 1 on Wake Island) operated bv £ sured bank m Hawaii. 1 v y

10 Consists of asset and liability data for 2 noninsured branches operated by 2 insured banks in New York.

11 Includes asset and liability data for 15 insured branches operated by 2 insured banks in New York.

12 Includes asset and liability data for 4 insured branches operated by an insured bank in New York.

Note: Data for the above branches are not included in the figures for the States in which the parent banks are located.

Back figures, 1945-1962: See the Annual Report for 1962, pp. 124-125, and earlier reports.

COASSETS AND LIABILITIES OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108, A s s e t s a n d L i a b i l i t i e s o f A l l I n s u r e d B a n k s i n t h e U n it e d St a t e s (S t a t e s a n d O t h e r A r e a s ),

C a l l D a t e s J u n e 30, 1961 T h r o u g h D e c e m b e r 20, 1963 1

(Amounts in thousands of dollars)

Assets

June 30, 

1961

Dec. 30, 

1961

March 26, 

1962

June 30, 

1962

Sept. 28, 

1962

Dec. 28, 

1962

March 18, 

1963

June 29, 

1963

Dec. 20, 

1963

288,705,613 314,438,740 304,433,611 313,495,544 318,378,614 335,934,112 331,694,157 340,388,582 354,809,831

Cash, 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......................

46,152,653

3,004,061

16,488,024

11,332,602

250,433

144,889

14,932,644

57,099,666

3,819,191

16,918,416

14,306,711

248,350

249,421

21,467,577

45,812,297

3,862,559

16,518,889

11,434,812

316,581

186,154

13,493,302

49,281,330

3,295,166

16,839,174

11,850,224

312,949

178,081

16,805,736

48,928,314

3,532,141

16,999,260

12,112,891

337,259

157,937

15,788,826

54,582,416

4,332,304

17,679,794

13,021,881

416,948

237,431

18,844,058

49,810,674

4,035,005

16,097,914

12,345,456

530,648

204,979

16,596,672

51,665,841

3,596,056

16,529,350

12,321,213

575,162

245,254

18,398,806

51,166,975

4,157,140

17,149,613

12,086,463

508,860

298,992

16,965,907

Obligations of the U. S. Government, direct

and guaranteed— total..................................

Direct:

Treasury bills......................................................

Treasury certificates of indebtedness..............

Treasury notes maturing in 1 year or less. . . .

Treasury notes maturing after 1 year.............

United States non-marketable bonds..............

Other bonds maturing in 1 year or less...........

Other bonds maturing in 1 to 5 years.............

Other bonds maturing in 5 to 10 years...........

Other bonds maturing after 10 years..............

Guaranteed obligations.........................................

66,091,244

7,453,153

3,369,968

5,467,315

15,728,303

756,811

6,632,888

13,542,866

9,724,474

3,218,798

196,663

70,780,767

11,515,532

2,142,610

8,418,081

18,630,152

601,522

2,465,962

16,098,292

7,143,149

3,550,078

215,389

68,966,698

9,591,437

3,793,210

9,078,841

16,558,346

578,039

2,333,958

13,993,050

9,192,451

3,621,410

225,956

68,688,732

8,440,540

3,657,486

11,467,088

15,362,125

569,852

1,058,937

14,401,180

10,072,252

3,424,328

234,944

68,615,600

8,608,772

3,556,834

6,085,819

18,618,009

549,524

4,313,282

10,905,001

13,357,952

2,378,338

242,069

70,605,519

11,791,016

3,996,330

5,322,085

19,150,662

449,760

2,285,148

11,648,541

13,598,734

2,123,031

240,212

69,045,361

10,791,471

3,269,818

3,708,449

20,710,869

437,127

1,770,440

9,618,424:

15,989,530

2,547,212

2 0 2 , 0 2 1

67,667,433

9,308,207

3,255,341

4.627.951 

19,844,588

421,017

1,508,840

10,068,307

15,957,065

2.469.952 

206,165

67,135,755

11,208,197

1,670,638

6,138,257

16,757,376

393,648

1,155,685

13,468,861

13,667,498

2,433,898

241,697

Obligations of States and subdivisions................

Securities of Federal agencies and corporations

(not guaranteed by U. S.).............................

Other bonds, notes, and debentures....................

Federal Reserve bank stock..................................

Other corporate stocks...........................................

26,950,629

19,125,026

2,255,285

4,331,164

426,270

812,884

28,728,617

20,732,516

2,617,755

4,079,476

444,213

854,657

30,092,755

22,076,299

2,632,708

4,044,986

453,847

884,915

31,778,264

23,458,724

2,910,983

4,013,148

457,069

938,340

33,053,087

24,379,978

3,177,540

4,042,254

460,093

993,222

34,126,296

25,076,053

3,486,442

4,064,339

465,705

1,033,757

35,111,975

26,342,142

3,261,221

3,950,901

476,424

1,081,287

37,145,497

28,037,856

3,597,544

3,909,101

481,062

1,119,934

39,700,867

30,022,176

4,215,668

3,787,856

491,175

1,183,992

93,041,873 99,509,384 99,059,453 100,466,996 101,668,687 104,731,815 104,157,336 104,812,930 106,836,622

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Loans and discounts, net— total.......................

Valuation reserves.....................................................

Loans and discounts, gross——to ta l....................

Real estate loans—total........................................

Secured by farm land..........................................

Secured by residential properties:

Insured by F H A .............................................

Insured or guaranteed by V A .........................

Not insured or guaranteed by FHA or V A.. .

Secured by other properties..................................

Loans to domestic commercial and foreign banks.

Loans to other financial institutions...................

Loans to brokers and dealers in securities..........

Other loans for purchasing or carrying securities . 

Loans to farmers directly guaranteed by the

Commodity Credit Corporation...................

Other loans to farmers (excluding loans on real

estate)..............................................................

Commercial and industrial loans (incl. open

market paper). ...............................................

Other loans to individuals for personal expenditures—total.....................................................

Passenger automobile instalment loans..............

Other retail consumer instalment loans..............

Residential repair and modernization instalment loans........................................................

Other instalment loans for personal expenditures.

Single-payment loans for personal expenditures..

All other loans (including overdrafts).................

Total loans and securities...........................

Bank premises, furniture and fixtures, and 

other real estate— total.................................

Bank premises........................................................

Furniture and fixtures...........................................

Real estate owned other than bank premises.. . . 

Investments and other assets indirectly representing bank premises or other real estate..

Miscellaneous assets— total.................................

Customers’ liability on acceptances outstanding, 

Other assets............................................................

PERCENTAGES

To 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...........................................

To total assets other than cash and U. S. 

Government obligations:

Total capital accounts...........................................

142,624,229

2,629,325

145,253,554

53,929,237

1,744,768

13,013,088

11,037,129

18,796,710

9,837,618

1,010,420

6,002,658

2,918,638

1,977,880

573,996

5,442,825

42,835,956

27,462,028

8,940,215

3,145,057

2,718,542

4,424,521

8,233,693

3,099,916

235,666,102

3,662,950

2,495,042

732,940

103,130

331,838

3,223,908

1,432,973

1,790,935

16.0%

22.9

9.3 

49.4

2.4

8.5

13.9

150,619,460

2,826,177

153,445,637

55,970,118

1,776,811

13,532,526

10,991,547

19,858,521

9,810,713

1,039,297

7,313,493

4,046,266

2,113,021

927,685

5,298,734

45,268,944

28,055,161

9,066,851

2,808,077

2,755,169

4,522,983

8,902,081

3,412,918

250,128,844

3,811,021

2,607,260

741,278

113,989

348,494

3,489,209

1,651,595

1,837,614

18.1%

22.5

9.2 

47.9

2.3 

8.1

13.6

152,285,468

2,867,500

155,152,968

56.905.617 

1,844,735

13,826,187

11,015,812

20,036,127

10,182,756

2,572,377

6,470,888

3,733,824

2,065,394

1,149,337

5,388,320

45,097,443

28.129.618 

9,205,951

2,705,299

2,677,390

4,552,877

8,988,101

3,640,150

251,344,921

3,906,752

2,660,347

765,434

120,717

360,254

3,369,641

1,581,108

1,788,533

15.0%

22.7

9.9

50.0

2.4

8.5

13.6

156,309,473

2,878,319

159,187,792

59,043,989

1,955,870

14,328,907

11,151,068

20,862,495

10,745,649

1,476,902

7,232,209

3,242,678

1,988,629

870,226

5,906,652

46,062,053

29,653,900

9,908,821

2,756,744

2,737,832

4,828,838

9,421,665

3,710,554

256,776,469

3,975,558

2,714,370

778,152

123,522

359,514

3,462,187

1,456,612

2,005,575

15.7%

21.9 

10.1

49.9 

2.4 

8.3

13.4

160,272,693

2,894,330

163,167,023

61,000,833

2,007,158

14,806,580

11,291,758

21,741,635

11,153,702

2,034,390

7,454,528

3,535,180

1,938,481

346,992

5,992,903

46,974,669

30,059,242

10,154,354

2,766,847

2,809,663

4,980,995

9,347,383

3,829,805

261,941,380

4,073,998

2,781,378

797,261

127,301

368,058

3,434,922

1,395,414

2,039,508

15.4%

21.5

10.4

50.3

2.4

8.4

13.3

168,801,321

2,909,688

171,711,009

62,750,776

2,048,943

15,176,739

11,472,042

22,471,202

11,581,850

2,560,370

8,473,355

5,177,925

2,114,934

1,111,661

5,963,558

48,860,921

30,790,186

10,534,920

2,858,885

2,825,491

5,092,511

9,478,379

3,907,323

273,533,136

4,172,496

2,852,967

819,099

126,659

373,771

3,646,064

1,618,937

2,027,127

16.2%

21.0

10.2

50.3

2.3

8.1

12.9

169,967,677

3,201,974

173,169,651

64,249,039

2,138,252

15,669,348

11,666,132

22,872,819

11,902,488

3,123,104

8,057,131

4,498,379

2,119,515

1,331,139

6,100,940

48,932,320

30,973,196

10,762,114

2,904,088

2,759,091

5,139,657

9,408,246

3,784,888

274,125,013

4,246,697

2,919,712

819,630

128,901

378,454

3,511,773

1,575,109

1,936,664

15.0%

20.8

10.6

51.3

2.3

8.2

175,498,110

3,226,382

178,724,492

67,032,568

16,255,516

12,054,896

23,930,946

12,524,974

1,915,015

8,646,348

4,629,754

2,211,103

799,576

6,733,102

50,022,702

32,921,628

11,693,717

3,008,854

2,853,029

5,475,283

9,890,745

3,812,696

280,311,040

4,428,257

3,122,721

838,200

128,093

339,243

3,983,444

1,549,880

2,433,564

15.2%

19.9

10.9 

51.5

2.5

8.1

12.5

188,232,982

3,213,551

191,446,533

70,980,241

2,350,099

17,016,748

12,317,825

25,767,552

13,528,017

3,610,250

9,448,495

5,349,920

2,488,339

816,838

6,647,074

53,144,882

34,919,957

12,451,250

3,201,535

2,976,040

5,807,404

10,483,728

4,040,537

295,069,604

4,707,697

3,343,007

892,555

112,159

359,976

3,865,555

1,591,458

2,274,097

14.4%

18.9

11.2

53.1

2.4

8.2

12.2

CO

- 1ASSETS AND LIABILITIES OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. A s s e t s a n d L i a b i l i t i e s o f A l l I n s u r e d B a n k s in t h e U n it e d St a t e s (S t a t e s a n d O t h e r A r e a s ),

C a l l D a t e s J u n e 30, 1961 T h r o u g h D e c e m b e r 20, 1963 1— Continued

(Amounts in thousands of dollars)

Liabilities and capital

June 30, 

1961

Dec. 30, 

1961

March 26, 

1962

June 30, 

1962

Sept. 28, 

1962

Dec. 28, 

1962

March 18, 

1963

June 29, 

1963

Dec. 20, 

1963

Total liabilities and capital accou n ts.................. 288,705,613 314,438,740 304,433,611 313,495,544 318,378,614 335,934,112 331,694,157 340,388,582 354,809,831

Business and personal deposits— total............. 216,779,674 236,462,979 227,459,296 233,748,980 238,304,561 252,498,086 249,590,563 253,187,093 266,669,373

Individuals, partnerships, and corporations— 

demand............................................................ 108,738,879 123,730,675 110,659,408 111,730,739 113,639,813 123,554,500 116,778,443 116,024,030 123,842,677

Individuals, partnerships, and corporations— 

time.................................................................. 104,296,059 107,682,172 113,257,605 117,596,062 120,899,358 124,486,860 128,502,487 132,715,299 138,370,425

Savings deposits................................................... 93,379,582 96,996,529 99,018,991 101,648,557 104,168,161 106,841,377 109,127,381 111,621,506 114,738,550

Deposits accumulated for payment of personal

loans................................................................. 773,852 772,150 779,883 765,933 773,602 784,531 796,502 790,380 837,081

Other deposits of individuals, partnerships, and

corporations..................................................... 10,142,625 9,913,493 13,458,731 15,181,572 15,957,595 16,860,952 18,578,604 20,303,413 22,794,794 Certified and officers’ checks, letters of credit, 

and travelers’ checks, etc............................... 3,744,736 5,044,132 3,542,283 4,422,179 3,765,390 4,456,726 4,309,633 4,447,764 4,456,271

Government deposits—total............................... 23,742,796 23,904,925 24,386,338 27,970,218 26,635,393 25,611,034 24,534,211 31,127,763 27,171,277

United States Government—demand.................. 6,367,691 5,949,325 6,781,784 9,544,587 8,592,373 6,833,754 5,407,883 11,026,837 6,734,239

United States Government—time........................ 283,411 280,096 280,485 295,840 262,935 266,199 264,876 250,834 268,300

States and subdivisions—demand........................ 11,838,523 12,217,682 11,266,037 11,794,877 11,601,140 12,066,083 11,721,066 12,388,673 12,263,435

States and subdivisions—time............................. 5,253,171 5,457,822 6,058,032 6,334,914 6,178,945 6,444,998 7,140,386 7,461,419 7,905,303

Domestic interbank and postal savings deposits— total ..................................................... 12,668,987 16,681,398 12,891,561 13,341,497 13,775,675 14,889,921 14,347,062 13,980,532 14,270,000

Commercial banks in the U. S.—demand.......... 11,849,410 15,751,964 12,010,665 12,392,738 12,877,487 13,907,406 13,381,700 12,924,632 13,323,112

Commercial banks in the U. S.—time................ 173,437 197,186 211,373 218,066 226,186 241,908 250,608 281,667 269,914

Mutual savings banks in the U. S.—demand.. . . 605,544 700,355 623,262 669,337 612,295 684,285 645,117 710,091 610,294

Mutual savings banks in the U. S.—time.......... 23,004 15,113 29,320 42,901 41,114 38,153 50,195 46,888 49,252

Postal savings......................................................... 17,592 16,780 16,941 18,455 18,593 18,169 16,442 17,254 17,428

Foreign government and bank deposits— 

total.................................................................... 3,604,283 4,255,164 4,066,994 4,138,626 3,904,827 4,548,654 4,551,202 4,854,482 5,193,098

Foreign governments, central banks, etc.— 

demand............................................................ 652,063 656,922 651,012 660,437 564,729 724,335 604,512 626,447 841,612

Foreign governments, central banks, etc.— 

time.................................................................. 1,811,070 2,178,055 2,161,913 2,162,539 2,117,991 2,431,688 2,680,935 2,856,924 3,045,448

Banks in foreign countries—demand................... 1,031,500 1,297,787 1,128,628 1,182,770 1,088,759 1,265,391 1,139,336 1,264,201 1,177,311

Banks in foreign countries—time......................... 109,650 122,400 125,441 132,880 133,348 127,240 126,419 106,910 128,727

Total deposits.................................................. 256,795,740 281,304,466 268,804,189 279,199,321 282,620,456 297,547,695 293,023,038 303,149,870 313,303,748

Demand............................................................ 144,828,346 165,354,842 146,663,079 152,397,664 152,741,986 163,492,480

134,055,215

153,990,690 159,412,675 163,248,951

Time................................................................. 111,967,394 115,949,624 122,141,110 126,801,657 129,878,470 139,032,848 143,737,195 150,054,797

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Miscellaneous liabilities— total..........................

Rediscounts and other borrowed money.............

Acceptances outstanding.......................................

Other liabilities.......................................................

Total liabilities (excluding capital accounts) ...........................................................

Capital accounts—total........................................

Capital stock, notes, and debentures..................

Undivided profits...................................................

Reserves..................................................................

MEMORANDA

Pledged assets and securities loaned................

Capital stock, notes, and debentures:

Par or face value— total....................................

Common stock...................................................

Capital notes and debentures...........................

Preferred stock...................................................

Retirable value of preferred stock.......................

7,409,956

441,799

1,461,052

5,507,105

7,820,622

473,448

1,689,406

5,657,768

9,877,549

2,132,926

1,619,176

6,125,447

8,188,211

782,362

1,498,878

5,906,971

9,073,543

1,507,959

1,429,490

6,136,094

11,290,601

3,590,812

1,655,648

6,044,141

11,416,935

2,962,135

1,606,332

6,848,468

9,589,877

1,516,411

1,597,026

6,476,440

12,612,070

3,614,177

1,620,293

7,377,600

264,205,696 289,125,088 278,681,738 287,387,532 291,693,999 308,838,296 304,439,973 312,739,747 325,915,818

24,499,917

6,464,028

12,423,665

4,806,379

805,845

25,313,652

6,621,703

13,068,228

4,781,267

842,454

25,751,873

6,769,709

13,260,466

4,883,106

838,592

26,108,012

6,826,298

13,430,586

5,024,430

826,698

26,684,615

6,863,186

13,525,675

5,454,122

841,632

27,095,816

6,937,502

13,822,081

5,488,605

847,628

27,254,184

7,092,356

14,055,192

5,241,563

865,073

27,648,835

7,172,516

14,258,908

5,363,677

853,734

28,894,013

7,451,066

14,637,286

5,941,518

864,143

29,973,285 31,782,351 32,591,032 34,659,071 34,216,059 35,844,661 34,534,701 38,492,256 (*)

6,464,328

6,426,462

22,616

15,250

6,622,003

6,585,001

22,257

14,745

6,770,009

6,733,055

22,034

14,920

6,826,598

6,789,688

22,090

14,820

6,863,486

6,827,985

20,726

14,775

6,937,802

6,882,362

20,646

34,794

7,092,656

7,036,472

21,282

34,902

7,172,816

7,114,462

21,094

37,260

7,451,366

7,282,980

130,547

37,839

16,217 15,406 15,583 15,460 15,426 35,435 35,540 37,702 (2)

Number of hanks......................................................... 13,461 13,445 13,439 13,442 13,440 13,457 13,478 13,527 13,621

1 Data for the September 30, 1963 call not tabulated for all banks.

2 Not available for all banks.

Back figures, 1984-1960: See the Annual Report for 1960, pp. 146-149, and earlier reports.

CO

CDASSETS AND LIABILITIES OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 109. A s s e t s a n d L i a b i l i t i e s o f I n s u r e d C o m m e r c ia l a n d I n s u r e d M u t u a l S a v in g s B a n k s in t h e U n it e d S t a t e s

( S t a t e s a n d O t h e r A r e a s ) , C a l l D a t e s S e p t e m b e r 28, 1962 T h r o u g h D e c e m b e r 20, 1963 1

(Amounts in thousands of dollars)

Insured commercial banks Insured mutual savings banks

Assets

Sept. 28, Dec. 28, March 18, June 29, Dec. 20, Sept. 28, Dec. 28, March 18, June 29, Dec. 20,

1962 1962 1963 1963 1963 1962 1962 1963 1963 1963

Total assets.............................................................. 279,171,182 295,982,703 290,844,464 298,808,700 311,790,848 39,207,432 39,951,409 40,819,693 41,579,882 43,018,983

Cash, balances with other banks, and cash

collection items—total............................. 48,180,982 53,798,705 48,985,517 50,877,148 50,445,462 747,332 783,711 825,157 788,693 721,513

Currency and coin............................................. 3,418,299 4,259,137 3,931,713 3,486,794 4,053,057 113,842 123,167 103,292 109,262 104,083

Reserve with Federal Reserve banks (member banks)...................................................... 16,999,260 17,679,794 16,097,914 16,529,350 17,149,613

Demand balances with banks in the United

States (except private banks and American

branches of foreign banks)........................... 11,693,602 12,563,869 11,865,686 11,876,629 11,644,517 419,289 458,012 479,770 444,584 441,946

Other balances with banks in the United

States.............................................................. 162,912 256,823 324,586 388,686 367,817 174,347 160,125 206,062 186,476 141,043

Balances with banks in foreign countries....... 157,937 237,431 204,979 245,254 298,992

Cash items in process of collection................. 15,748,972 18,801,651 16,560,639 18,350,435 16,931,466 ........39,854 ........42,407’ ........36,033’ ........48,371 ........34,441 ’

Obligations o f the U. S. Government, direct

and guaranteed—tota l............................. 63,921,726 65,966,306 64,373,825 63,122,231 62,811,737 4,693,874 4,639,213 4,671,536 4,545,202 4,324,018

Direct:

Treasury bills................................................. 8,397,102 11,570,253 10,454,036 9,063,613 10,999,429 211,670 220,763 337,435 244,594 208,768

Treasury certificates of indebtedness.......... 3,481,103 3,917,424 3,214,925 3,202,828 1,651,564 75,731 78,906 54,893 52,513 19,074

Treasury notes maturing in 1 year or less.. 5,964,072 5,199,158 3,618,339 4,486,173 5,921,023 121,747 122,927 90,110 141,778 217,234

Treasury notes maturing after 1 year........ 17,900,448 18,518,818 20,089,278 19,259,933 16,402,791 717,561 631,844 621,591 584,655 354,585

United States non-marketable bonds.......... 395,994 303,366 289,706 285,371 277,927 153,530 146,394 147,421 135,646 115,721

Other bonds maturing in 1 year or less. . . . 4,274,952 2,253,167 1,748,051 1,490,993 1,141,495 38,330 31,981 22,389 17,847 14,190

Other bonds maturing in 1 to 5 years........ 10,620,312 11,332,096 9,332,864 9,760,193 12,931,738 284,689 316,445 285,560 308,114 537,123

Other bonds maturing in 5 to 10 years. . . . 11,799,207 11,967,665 14,368,179 14,366,215 12,244,036 1,558,745 1,631,069 1,621,351 1,590,850 1,423,462

Other bonds maturing after 10 years.......... 947,422 768,599 1,166,448 1,112,495 1,137,045 1,430,916 1,354,432 1,380,764 1,357,457 1,296,853

Guaranteed obligations..................................... 141,114 135,760 91,999 94,417 104,689 100,955 104,452 1 1 0 , 0 2 2 111,748 137,008

Other securities—total..................................... 27,876,832 28,946,174 29,994,880 32,095,360 34,660,292 5,176,255 5,180,122 5,117,095 5,050,137 5,040,575

Obligations of States and subdivisions........... 23,856,369 24,582,904 25,893,349 27,610,889 29,611,314 523,609 493,149 448,793 426,967 410,862

Securities of Federal agencies and corporations (not guaranteed by U. S .).................. 2,565,532 2,870,165 2,644,590 2,973,360 3,503,243 612,008 616,277 616,631 624,184 712,425

Other bonds, notes, and debentures................ 769,009 804,088 739,292 780,871 784,083 3,273,245 3,260,251 3,211,609 3,128,230 3,003,773

Federal Reserve bank stock............................. 460,093 465,705 476,424 481,062 491,175

Other corporate stocks..................................... 225,829 223,312 241,225 249,178 270,477 767,393' ’810,445’ 840,062’ 870,756’ 913,515

Total securities....................................... 91,798,558 94,912,480 94,368,705 95,217,591 97,472,029 9,870,129 9,819,335 9,788,631 9,595,339 9,364,593

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Loans and discounts, net— total.......................

Valuation reserves.....................................................

Loans and discounts, gross— tota l....................

Real estate loans—total.......................................

Secured by farm land.........................................

Secured by residential properties:

Insured by FHA.............................................

Insured or guaranteed by V A ........................

Not insured or guaranteed by FHA or VA . .

Secured by other properties................................

Loans to domestic commercial and foreign banks

Loans to other financial institutions...................

Loans to brokers and dealers in securities.........

Other loans for purchasing or carrying securities. 

Loans to farmers directly guaranteed by the

Commodity Credit Corporation......................

Other loans to farmers (excluding loans on real

estate) .................................................................

Commercial and industrial loans (incl. open

market paper)....................................................

Other loans to individuals for personal expenditures—total.................................................

Passenger automobile instalment loans.............

Other retail consumer instalment loans.............

Residential repair and modernization instalment loans.......................................................

Other instalment loans for personal expenditures

Single-payment loans for personal expenditures.

All other loans (including overdrafts)................

Total loans and securities...................

Bank premises, furniture and fixtures, 

and other real estate— t o t a 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. 

Other assets...........................................................

PERCENTAGES

To 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..........................................

To total assets other than cash and U. S. 

Government obligations:

Total capital accounts..........................................

132,300,275

2,677,678

134,977,953

33,282,862

1,960,670

6,360,533

2,596,243

13,768,431

8,596,985

2,022,596

7,449,689

3,522,556

1,927,119

346,992

5,990,669

46,799,339

29,816,025

10, 148,881

2,765,693

2,746,849

4,926,008

9,228,594

3,820,106

224,098,833

3,793,047

2,543,737

772,203

109,049

368,058

3,098,320

1,395,414

1,702,906

17.2%

22.9

10.0

47.4

2.5

8.4

14.0

140,023,316

2,694,275

142,717,591

34,309,294

2,002,871

6,494,946

2,635,240

14,237,357

8,938,880

2,552,321

8,468,121

5,120,629

2,103,614

1,111,661

5,961,308

48,668,367

30.524,024

10,529,184

2,857,682

2,762,423

5,034,282

9,340,453

3,898,252

234,935,796

3,884,209

2,609,561

793,893

106,984

373,771

3,363,993

1,618,937

1,745,056

18.2%

22.3 

9.8

47.3 

2.4 

8.0

13.5

140,337,778

2,982,407

143,320,185

34,981,168

2,092,618

6,591,840

2 ,624,624

14,472,015

9,200,071

3,099,468

8,052,415

4,458,736

2,105,195

1,331,139

6,098,761

48,726,340

30,692,707

10,756,088

2,698,257

5,078,254

9,257,814

3,774,256

234,706,483

3,952,409

2,672,393

793,098

108,464

378,454

3,200,055

1,575,109

1,624,946

16.8%

22.1

10.3

48.3 

2.5 

8.2

13.5

144,965,172

3,010,546

147,975,718

36,768,959

2,221,058

15,199,048

9,715,261

1,903,897

8,641,977

4,614,755

2,204,117

799,576

6,730,646

49,868,910

32,639,569

11,684,539

3,007,965

2,790,309

5,405,567

9,751,189

3,803,312

240,182,763

4,126,863

2,871,426

810,642

105,552

339,243

3,621,926

1,549,880

2,072,046

17.0%

21.1

10.8

48.5

2.6

8.1

13.1

155,933,367

2,994,811

158,928,178

39,088,205

2,303,251

7,047,238

2,817,152

16,380,889

10,539,675

3,594,633

9,441,479

5,325,642

2,476,760

816,838

6,644,575

52,984,200

34,531,746

12,437,272

2,909,590

5,718,920

10,265,352

4,024,100

253,405,396

4,394,800

3,082,103

863,387

89,334

359,976

3,545,190

1,591,458

1,953,732

16.2%

20.1

11.1

50.0

2.6

8.1

12.8

27,972,418

216,652

28,189,070

27,717,971

8,446,047

8,695,515

7,973,204

2,556,717

11,794

4,839

12,624

11,362

2,234

175,330

243,217

5,473

1,154

62,814

54,987

118,789

9,699

280,951

237,641

25,058

18,252

336.602

336.602

1.9%

12.0

13.2

71.3 

1.6 

8.5

28,778,005

215,413

28,993,418

28,441,482

46,072

8,681,793

8,836,802

8,233,845

2,642,970

8,049

5,234

57,296

11,320

2,250

192,554

266,162

5,736

1,203

63,068

58,229

137,926

9,071

38,597,340

288,287

243,406

25,206

19,675

282.071

282.071

2 .0 %

11.6

13.0

72.0

1.4

8.4

9.7

29,629,899

219,567

29,849,466

29,267,871

45,634

9.077.508

9.041.508

8,400,804

2,702,417

23,636

4,716

39,643

14,320

2,179

205,980

280,489

6,026

1,794

60,834

61,403

150,432

10,632

39,418,530

294,288

247,319

26,532

20,437

311.718

311.718

2.0%

11.5

12.5

72.5 

1.5 

8.4

9.7

30,532,938

215,836

30,748,774

30,263,609

45,178

9,425,247

9,251,573

8,731,898

2,809,713

11,118

4,371

14,999

6,986

32,299,615

218,740 

32,518,355 

^ •31,892,036'■

46,848

9,969,510

9,500,673

9,386,663

2,988,342

15,617

7,016

24,278

11,579

2,456

153,792

282,059

9,178

62,720

69,716

139,556

9,384

301,394

251,295

27,558

22,541

361,518

361,518

1.9%

10.9

12.2

73.4

1.6

8.2

9.4

2,499

160,682

388,211

13,978

923

66,450

88,484

218,376

16,437

41,664,208

312,897

260,904

29,168

22,825

320,365

320,305

1.7%

10.0

11.7

75.1

1.5

8.3

ASSETS AND LIABILITIES OF BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 109. A s s e t s a n d L ia b i l i t ie s o f In s u r e d C o m m e rcia l a n d In s u r e d M u t u a l S a v in g s B a n k s in t h e U n ite d S t a t e s

(S t a t e s a n d O t h e r A r e a s ), C a l l D a t e s S e p te m b e r 28, 1962 T h r o u g h D e c e m b e r 20, 1963 1— Continued ^

to

(Amounts in thousands of dollars)

Insured commercial banks Insured mutual savings banks

Liabilities and capital

Sept. 28, Dec. 28, March 18, June 29, Dec. 20, Sept. 28, Dec. 28, March 18, June 29, Dec. 20,

1962 1962 1963 1963 1963 1962 1962 1963 1963 19G3

Total liabilities and capital accounts.............. 279,171,182 295,982,703 290,844,464 298,808,700 311,790,848 39,207,432 39,951,409 40,849,693 41,579,882 43,018,983

Business and personal deposits— total........ 202,993,769 216,424,179 212,852,154 215,632,887 228,042,312 35,310,792 36,073,907 36,738,409 37,554,206 38,627,061

Individuals, partnerships, and corporations—

demand....................................................... 113,358,553 123,296,625 116,489,543 115,731,286 123,561,302 281,260 257,875 288,900 292,744 281,375

Individuals, partnerships, and corporations—

time............................................................. 85,876,606 88,678,022 92,060,885 95,462,429 100,033,046 35,022,752 35,808,838 36,441,602 37,252,870 38,337,379

Savings deposits.............................................. 69,171,619 71,043,588 72,701,899 74,390,626 76,418,701 34,996,542 35,797,789 36,425,482 37,230,880 38,324,849

Deposits accumulated for payment of personal loans................................................... 778,021 783,826 795,772 789,648 836,450 581 705 730 732 681

Other deposits of individuals, partnerships,

and corporations......................................... 15,931,966 16,850,608 18,563,214 20,282,155 22,782,895 25,629 10,844 15,890 21,258 11,899

Certified and officers’ checks, letters of credit,

and travelers’ checks, etc.......................... 3,758,610 4,449,532 4,301,726 4,439,172 4,447,964 6,780 7,194 7,907 8,592 8,307

Government deposits—total........................... 26,612,191 25,581,722 24,505,491 31,098,068 27,142,510 23,202 29,312 28,720 29,695 28,767

United States Government—demand............. 8,587,999 6,824,658 5,400,679 11,019,039 6,729,214 4,374 9,096 7,204 7,798 5,025

United States Government—time................... 262,873 266,143 264,809 250,798 268,203 62 56 67 36 97

States and subdivisions—demand................... 11,599,766 12,064,372 11,719,526 12,386,649 12,261,389 1,374 1,711 1,540 2,024 2,046

States and subdivisions—time......................... 6,161,553 6,426,549 7,120,477 7,441,582 7,883,704 17,392 18,449 19,909 19,837 21,599

Domestic interbank and postal savings

deposits—total............................................ 13,774,796 14,888,976 14,346,147 13,979,354 14,268,764 879 945 915 1,178 1,236

Commercial banks in the U. S.—demand. . . . 12,877,458 13,907,380 13,384,665 12,924,607 13,323,080 29 26 35 25 32

Commercial banks in the U. S.— time............ 225,336 240,989 249,728 280,514 268,710 850 919 880 1,153 1,204

Mutual savings banks in the U. S.—demand. 612,295 684,285 645,117 710,091 610,294

Mutual savings banks in the U. S.—time. . . . 41,114 38,153 50,195 46,888 49,252

Postal savings.................................................... 18,593 18,169 16,442 17,254 17,428

F oreign government and bank deposits—

total............................................................... 3,904,827 4,548,654 4,551,195 4,854,482 5,193,043 7 55

Foreign governments, central banks, etc.—

demand....................................................... 564,729 724,335 604,505 626,447 841,590 7 2 2

Foreign governments, central banks, etc.—

time............................................................. 2,117,991 2,431,688 2,680,935 2,856,924 3,045,415 33

Banks in foreign countries—demand.............. 1,088,759 1,265,391 1,139,336 1,264,201 1,177,311

Banks in foreign countries—time.................... 133,348 127,240 126,419 106,910 128,727

Total deposits............................................. 247,285,583 261,443,531 256,254,987 265,564,791 274,646,629 35,334,873 36,104,164 36,768,051 37,585,079 38,657,119

Demand....................................................... 152,448,169 163,216,578 153,685,097 159,101,492 162,952,144 293,817 275,902 805,593 311,183 296,807

Time............................................................ 94,837,414 98,226,953 102,569,890 106,463,299 111,694,485 85,041,056 85,828,262 36,462,458 87,278,896 38,860,812

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Miscellaneous liabilities— tota l.....................

Rediscounts and other borrowed money........

Acceptances outstanding..................................

Other liabilities..................................................

Total liabilities (excluding capital 

accoun ts)..................................................

Capital accounts—total...................................

Capital stock, notes, and debentures..............

Surplus................................................................

Undivided profits...............................................

Reserves.............................................................

MEMORANDA

Pledged assets and securities loaned...........

8,520,374

1,500,177

1,429,490

5,590,707

10,786,803

3,583,534

1,655,648

5,547,621

10,763,262

2,952,704

1,606,332

6,204,226

9,009,288

1,499,211

1,597,026

5,913,051

11,821,823

3,576,530

1,620,293

6,625,000

553,169

7,782

545,387

503,798

7,278

496,520

653,673

9,431

644,242

580,589

17,200

563,389

790,247

37,647

752,600

255,805,957 272,230,334 267,018,249 274,574,079 286,468,452 35,888,042 36,607,962 37,421,724 38,165,668 39,447,366

23,365,225

6,863,036

11,176,117

4,770,202

555,870

23,752,369

6,937,352

11,458,444

4,789,690

566,883

23,826,215

7,092,206

11,661,749

4,493,862

578,398

24,234,621

7,172,366

11,819,350

4,663,487

579,418

25,322,396

7,450,533

12,163,471

5,113,403

594,989

3,319,390

150

2,349,558

683,920

285,762

3,343,447

150

2,363,637

698,915

280,745

3,427,969

150

2,393,443

747,701

286,675

3,414,214

150

2,439,558

700,190

274,316

3,571,617

533

2,473,815

828,115

269,154

34,216,059 35,844,661 34,534,701 38,492,256 (2)

Capital stock, notes, and debentures:

Par or face value——tota l...............................

Common stock...............................................

6,863,336

6,827,985

20,576

14,775

6,937,652

6,882,362

20,496

34,794

7,092,506

7,036,472

21,132

34,902

7,172,666

7,114,462

20,944

37,260

7,450,833

7,282,980

130,014

37,839

150 150 150 150 533

Capital notes and debentures......................

Preferred stock...............................................

150 150 150 150 533

Retirable value of preferred stock.................. 15,426 35,435 35,540 37,702 (2)

Number of banks...................................................... 13,109 13,126 13,147 13,196 13,291 331 331 331 331 330

1 Data for the September 30, 1963 call not tabulated for all banks.

2 Not available for all banks.

Back figures, 193J/.-1962: See the Annual Report for 1962, pp. 130-133, and earlier reports.

ASSETS AND LIABILITIES OF BANKS

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Federal Reserve Bank of St. Louis
Table 110. A verage A ssets and L iabilities and A ssets and L iabilities Per $100 of T otal A ssets o f I nsured C ommercial

B an ks in the U nited States (States and Other A reas), 1963 1

BY CLASS OF BANK

Members F.R. System Not

members

Asset or liability item Total

National State

F.R.

System

Average assets and liabilities (in thousands o f dollars) 1

298,940,778 162,872,527 88,770,843 47,297,408

Cash and due from banks . . . . . . .......................................................................................... 50,997,566 28,626,110 16,341,425 6,030,031

United States Government obligations . .......... ........................................................................... 64,058,431 34,385,311 16,647,986 13,025,134

Other securities..................................................................................................................................................... 31,421,875 17,369,877 8,948,102 5,103,896

Loans and discounts ........................................................................................... 145,028,233 78,613,327 44,118,401 22,296,505

All other assets .............................................................................................................................................. 7,434,673 3,877,902 2,714,929 841,842

298,940,778

264,069,489

162,872,527 88,770,843 47,297,408

144,733,153 76,745,550 42,590,786

159,561,973 87,225,404 48,748,362 23,588,207

104,507,516 57,507,749 27,997,188 19,002,579

10,587,389 5,120,730 4,789,283 677,376

24,283,900 13,018,644 7,236,010 4,029,246

Assets and liabilities per $100 o f total assets 1

$1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0

17.06 17.58 18.41 12.75

United States Government obligations ................................................................................................... 21.43 2 1 . 1 1 18.75 27.54

10.51 1 0 . 6 6 10.08 10.79

48.51 48.27 49.70 47.14

2.49 2.38 3.06 1.78

1 0 0 . 0 0 1 0 0 . 0 0 1 0 0 . 0 0 1 0 0 . 0 0

88.34 8 8 . 8 6 86.45 90.05

53.38 53.55 54.91 49.87

34.96

3.54

35.31 31.54 40.18

3.15 5.40 1.43

8 . 1 2 7.99 8.15 8.52

1 Asset and liability items are averages of the amounts reported for the following call dates: December 28, 1962; March 18, 1963; June 29, 1963; and December 20, 1963. 

Note: For income data by class of bank see Tables 116 and 117, pp. 156-160.

Back figures, 1934-1962: See Tables 114 and 115, pp. 152 and 154, the Annual Report for 1962, p. 135, and earlier reports.

144 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
T ab le 111. A ssets and Liabilities and A ssets and Liabilities per $100 of T otal A ssets of I nsured C ommercial

B an ks O perating T hroughout 1963 in the U nited States (States and Other A r eas), D ecember 20, 1963

banks grouped according to amount of deposits

Asset or liability item

All

banks 1

Banks with deposits of— 2

Less

than

$1 ,0 0 0 , 0 0 0

$1 ,0 0 0 , 0 0 0

to

$2 ,0 0 0 , 0 0 0

$2 ,0 0 0 , 0 0 0

to

$5,000,000

$5,000,000

to

$1 0 ,0 0 0 , 0 0 0

$1 0 ,0 0 0 , 0 0 0

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$1 0 0 ,0 0 0 , 0 0 0

$1 0 0 ,0 0 0 , 0 0 0

to

$500,000,000

$500,000,000

or

more

Assets and liabilities (in

thousands of dollars) 2

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

310,002,547

50,216,029

62,496,189

34,553,722

154,948,155

7,788,452

622,176

118,725

201,350

37,259

260,060

4,782

3,579,916

546,955

1,166,662

258,188

1,569,047

39,064

15,952,143

2,306,029

4,867,216

1,566,794

6,983,014

229,090

21,259,121

2,934,638

5,917,492

2,556,942

9,508,810

341,239

31,964,869

4,173,399

8,409,052

3,929,012

14,855,326

598,080

22,141,641

2,884,080

5,539,939

2,593,593

10,672,537

451,492

22,289,395

3,005,462

5,279,130

2,592,826

10,959,878

452,099

62,036,279

10,595,910

11,818,152

6,467,192

31,816,729

1,338,296

130,157,007

23,650,831

19,297,196

14,551,916

68,322,754

4,334,310

310,002,547

273,113,645

162,167,080

110,946,565

11,788,677

25,100,225

622,176

540,501

384,758

155,743

1,875

79,800

3,579,916

3,166,379

1,973,305

1,193,074

16,123

397,414

15,952,143

14,285,044

8,269,067

6,015,977

114,531

1,552,568

21,259,121

19,176,428

10,613,085

8,563,343

223,258

1,859,435

31,964,869

28,867,868

15,616,094

13,251,774

534,555

2,562,446

22,141,641

19,910,352

10,954,964

8,955,388

507,603

1,723,686

22,289,395

19,993,196

11,303,110

8,690,086

598,619

1,697,580

62,036,279

55,163,342

34,651,268

20,512,074

2,023,119

4,849,818

130,157,007

112,010,535

68,401,429

43,609,106

7,768,994

10,377,478

Assets and liabilities per

$ 1 0 0 of total assets 2

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

$1 0 0 . 0 0

16.20

20.16

11.15

49.98

2.51

$1 0 0 . 0 0

19.08

32.36

5.99

41.80

.77

$1 0 0 . 0 0

15.28

32.59

7.21

43.83

1.09

$1 0 0 . 0 0

14.46

30.51

9.82

43.77

1.44

$1 0 0 . 0 0

13.80

27.83

12.03

44.73

1.61

$1 0 0 . 0 0

13.06

26.31

12.29

46.47

1.87

$1 0 0 . 0 0

13.03

25.02

11.71

48.20

2.04

$1 0 0 . 0 0

13.48

23.69

11.63

49.17

2.03

$1 0 0 . 0 0

17.08

19.05

10.42

51.29

2.16

$1 0 0 . 0 0

18.17

14.83

11.18 

52.49

3.33

1 0 0 . 0 0

8 8 . 1 0

52.31

35.79

3.80

8 . 1 0

1 0 0 . 0 0

86.87

61.84

25.03

.30

12.83

1 0 0 . 0 0

88.45

55.12

33.33

.45

1 1 . 1 0

1 0 0 . 0 0

89.55

51.84

37.71

.72

9.73

1 0 0 . 0 0

90.20

49.92

40.28

1.05

8.75

1 0 0 . 0 0

90.31

48.85

41.46

1.67

8 . 0 2

1 0 0 . 0 0

89.92

49.48

40.44

2.29

7.79

1 0 0 . 0 0

89.70

50.71

38.99

2 . 6 8

7.62

1 0 0 . 0 0

88.92

55.86

33.06

3.26

7.82

1 0 0 . 0 0

86.06

52.55

33.51

5.97

7.97

Number of banks, December 20.......... 12,984 726 2,127 4,310 2,741 1,898 575 283 257 67

comm^wiafshown^n 8T abl^ll 5 ^ gr°UP S W n “ TablG 1 1 6 UndeF th® heading “ 0 PeratinS throughout the year.” These ratios differ slightly from the ratios for all insured

2 Asset and liability items are as of December 2 0 , 1963. ^

CJI

Note: For income and expense data by size of bank see Tables 118, and 119, pp. 160-163.

Back figures, 1941-1962: See the Annual Report for 1902, p. 134, and earlier reports.

ASSETS AND LIABILITIES OF BANKS

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Federal Reserve Bank of St. Louis
T a b le 11 2 . A v e r a g e A sse ts a n d L ia b il it ie s of I n s u r e d C o m m e r c ia l B a n k s in t h e U n t e d S t a t e s

( S t a t e s an d O t h e r A r e a s ), b y S t a t e , 1963 1

(Amounts in thousands of dollars)

Assets 1 Liabilities and capital accounts 1

State Cash and U. S. Gov­ Loans Total

Deposits

Borrowings Total

due from 

banks

ernment

obligations

Other

securities

and

discounts

All other 

assets

Total Demand

Time and 

savings

and other 

liabilities

capital

accounts

Total United States. . 50,997,566 64,058,431 31,421,875 145,028,233 7,434,673 298 ,940,778 264,069,489 159,561,973 104,507,516 10,587,389 24,283,900

50 States and D. C.... 50,919,265 63,969,599 31,370,437 144,677,897 7,411,062 298,348,260 263,534,655 159,309,934 104,224,721 10,574,439 24,239,166

Other areas.................. 78,301 88,832 51,438 350,336 23,611 592,518 534,834 252,039 282,795 12,950 44,734

State

Alabama..................... 484,079 639,251 333,508 1,218,193 47,249 2,722,280 2,440,725 1,579,045 861,680 42,473 239,082

Alaska........................ 35,228 71,808 18,918 126,394 8,356 260,704 241,704 124,841 116,863 2,788 16,212

Arizona....................... 238,240 265,347 127,723 1,130,263 65,138 1,826,711 1,650,142 937,500 712,642 53,236 123,333

Arkansas.................... 348,115 359,101 235,058 772,774 27,256 1,742,304 1,582,498 1,088,747 493,751 13,633 146,173

California................... 5,177,072 5,751,933 3,095,320 18,020,534 1,021,183 33,066,042 29,611,364 14,305,040 15,306,324 1,259,249 2,195,429

Colorado.................... 486,886 598,527 166,622 1,345,223 55,194 2,652,452 2,396,178 1,465,160 931,018 48,311 207,963

Connecticut............... 500,875 517,119 416,757 1,617,131 66,745 3,118,627 2,728,739 1,885,295 843,444 130,779 259,109

Delaware.................... 138,964 243,287 63,281 431,255 19,996 896,783 784,596 588,983 195,613 25,321 8 6 , 8 6 6

District of Columbia. 358,550 549,083 90,683 981,061 36,388 2,015,765 1,832,313 1,263,633 568,680 37,688 145,764

Florida....................... 1,155,043 1,896,758 620,488 2,555,553 183,845 6,411,687 5,772,879 3,705,338 2,067,541 121,680 517,128

Georgia....................... 756,383 762,920 320,421 1,885,082 82,576 3,807,382 3,368,642 2,316,275 1,052,367 103,025 335,715

Hawaii....................... 102,519 192,759 65,622 496,749 30,571 8 8 8 , 2 2 0 787,002 383,290 403,712 25,624 75,594

Idaho.......................... 103,566 181,193 69,751 422,687 17,083 794,280 720,695 431,476 289,219 14,202 59,383

Illinois........................ 3,517,261 5,860,470 2,843,746 10,188,158 366,415 22,776,050 20,361,727 11,934,190 8,427,537 619,723 1,794,600

Indiana....................... 966,779 1,809,504 443,320 2,518,160 92,745 5,830,508 5,218,184 3,334,230 1,883,954 134,038 478,286

Iowa........................... 606,770 978,809 382,938 1,892,963 47,560 3,909,040 3,500,773 2,215,768 1,285,005 49,269 358,998

Kansas....................... 502,930 843,289 393,263 1,334,853 35,458 3,109,793 2,802,386 1,941,649 860,737 25,566 281,841

Kentucky................... 587,475 843,712 233,793 1,284,425 40,776 2,990,181 2,686,614 1,939,148 747,466 33,360 270,207

Louisiana................... 746,193 977,003 357,639 1,520,360 64,383 3,665,578 3,312,119 2,350,082 962,037 49,719 303,740

Maine......................... 102,045 173,736 62,095 436,334 18,915 793,125 697,133 369,971 327,162 22,223 73,769

Maryland................... 501,022 743,057 290,457 1,460,792 62,480 3,057,808 2,752,625 1,739,806 1,012,819 63,423 241,760

Massachusetts........... 1,284,968 1,296,856 472,549 3,560,422 173,289 6,788,084 5,827,461 4,582,187 1,245,274 317,899 642,724

Michigan.................... 1,596,052 3,051,914 1,419,787 5,487,048 199,704 11,754,505 10,671,376 4,881,653 5,789,723 246,320 836,809

Minnesota.................. 889,369 1,333,143 518,441 2,542,727 106,379 5,390,059 4,845,874 2,726,842 2,119,032 105,384 438,801

Mississippi................. 319,089 368,690 266,278 749,331 34,701 1,738,089 1,574,337 1,067,489 506,848 22,758 140,994

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Missouri..................... 1,429,186 1,856,204 737,381 3,486,805 104,471 7,614,047 6,840,694 4,628,663 2,212,031 127,508 645,845

Montana.................... 153,544 270,700 103,259 476,847 20,219 1,024,569 933,318 564,214 369,104 18,140 73,111

Nebraska................... 395,359 477,713 168,754 1,053,552 28,835 2,124,213 1,890,364 1,439,694 450,670 40,964 192,885

Nevada....................... 76,264 144,486 63,909 343,297 20,565 648,521 590,216 349,939 240,277 14,615 43,690 New Hampshire........ 75,621 112,209 34,954 306,338 9,887 539,009 466,709 279,655 187,054 18,672 53,628

New Jersey................ 1,169,170 2,055,140 1,379,496 4,483,984 162,421 9,250,211 8,321,402 4,278,830 4,042,572 244,609 684,200

New Mexico.............. 158,157 240,908 59,091 432,879 18,834 909,869 829,159 546,618 282,541 11,920 68,790 New York.................. 11,507,586 9,583,567 6,584,498 29,541,697 2,458,104 59,675,452 50,189,659 33,208,872 16,980,787 4,486,139 4,999,654 North Carolina.......... 688,184 670,921 425,387 1,910,483 90,886 3,785,861 3,295,530 2,204,372 1,091,158 176,092 314,239 North Dakota........... 97,560 242,602 105,946 400,828 16,896 863,832 786,875 459,397 327,478 9,929 67,028

Ohio............................ 2,204,137 3,496,729 1,409,661 6,907,871 227,458 14,245,856 12,672,512 6,981,040 5,691,472 384,255 1,189,089 Oklahoma.................. 732,646 844,360 310,902 1,462,172 57,637 3,407,717 3,044,691 2,192,861 851,830 48,315 314,711 Oregon........................ 393,395 552,015 254,729 1,310,984 66,499 2,577,622 2,336,384 1,210,893 1,125,491 48,564 192,674 Pennsylvania............. 2,796,464 3,889,535 2,583,112 8,957,270 334,869 18,561,250 16,301,220 9,082,955 7,218,265 503,291 1,756,739

Rhode Island............. 125,596 161,938 138,884 655,122 19,958 1,101,498 970,174 501,078 469,096 42,087 89,237

South Carolina.......... 242,153 313,653 151,564 591,627 25,826 1,324,823 1,166,161 916,608 249,553 37,942 120,720 South Dakota............ 125,957 289,004 80,296 457,313 15,707 968,277 879,745 529,715 350,030 11,751 76,781

Tennessee................... 838,940 906,979 421,655 2,116,992 70,227 4,354,793 3,927,685 2,388,025 1,539,660 86,040 341,068

Texas.......................... 3,455,500 3,220,276 1,479,912 7,290,385 424,357 15,870,430 14,220,206 9,719,988 4,500,218 339,774 1,310,450 Utah........................... 208,065 219,345 99,525 703,279 20,544 1,250,758 1,124,589 599,331 525,258 32,355 93,814

Vermont..................... 48,541 104,298 46,462 307,123 9,511 515,935 461,960 161,393 300,567 9,777 44,198

Virginia...................... 653,298 944,832 442,410 2,207,659 83,185 4,331,384 3,856,117 2,139,625 1,716,492 105,756 369,511 Washington............... 580,460 739,985 321,690 1,758,433 83,811 3,484,379 3,128,149 1,900,226 1,227,923 81,863 274,367 West Virginia............ 256,796 548,322 129,718 670,365 29,514 1,634,715 1,439,607 880,358 559,249 25,969 169,139

Wisconsin................... 912,616 1,630,471 494,370 2,625,909 95,824 5,759,190 5,225,700 2,718,542 2,507,158 93,463 440,027

Wyoming................... 88,597 144,138 34,414 240,211 10,632 517,992 467,743 269,404 198,339 6,958 43,291

Other area

Puerto Rico............... 75,555 83,120 49,648 336,676 23,248 568,247 513,264 244,615 268,649 12,005 42,978

Virgin Islands............ 2,746 5,712 1,790 13,660 363 24,271 21,570 7,424 14,146 945 1,756

1 Asset and liability items are averages of the amounts reported for the following call dates: December 28, 1962; March 18, 1963; June 29, 1963; and December 20, 1963. 

Note: For income data by State see Table 120, pp. 164-173.

Back figures, 1946-1962: See the Annual Report for 1962, pp. 136-137, and earlier reports.

ASSETS AND LIABILITIES OF BANKS 1 4 7

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Federal Reserve Bank of St. Louis
Table 113. D i s t r ib u t io n o f I n s u r e d C o m m e r c ia l B a n k s in t h e U n it e d St a t e s (S t a t e s a n d O t h e r A r e a s ), D e c e m b e r 20, 1963

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS AND BY RATIOS OF SELECTED ITEMS TO ASSETS

Ratios All

banks

Number of banks with deposits of—

Less

than

$1 ,0 0 0 , 0 0 0

$1 ,0 0 0 , 0 0 0

to

$2 ,0 0 0 , 0 0 0

$2 ,0 0 0 , 0 0 0

to

$5,000,000

$5,000,000

to

$1 0 ,0 0 0 , 0 0 0

$1 0 ,0 0 0 , 0 0 0

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$1 0 0 ,0 0 0 , 0 0 0

$1 0 0 ,0 0 0 , 0 0 0

to

$500,000,000

$500,000,000

or

more

Ratios o f obligations o f States and subdivisions to total assets of—

1,387 348 477 417 93 40 9 2 1

More than zero but less than 1 percent....... 907 8 6 307 356 8 6 44 1 2 6 9 1

1 to 5 percent................................................... 3,095 232 720 1,198 476 280 1 0 2 44 34 9

5 to 10 percent................................................. 3,854 1 0 2 433 1,233 947 681 195 1 1 1 1 2 0 32

10 to 15 percent............................................... 2,515 43 166 722 709 543 175 77 62 18

15 to 20 percent............................................... 1,034 19 71 295 311 223 57 33 2 2 3

2 0 percent or more.......................................... 499 9 42 152 146 97 29 1 0 1 0 4

Ratios o f U. S. Government obligations

to total assets of—

Less than 1 0 percent....................................... 455 53 76 129 106 52 19 6 1 1 3

1 0 to 2 0 percent............................................... 2,547 129 292 684 560 432 157 96 144 53

20 to 30 percent............................................... 4,387 2 1 0 589 1,334 983 805 250 125 81 1 0

30 to 40 percent............................................... 3,534 198 630 1,305 777 459 1 1 0 41 14

40 to 50 percent............................................... 1,675 151 413 659 267 126 40 1 2 6 1

50 to 60 percent............................................... 548 76 171 2 1 1 58 27 3 2

60 percent or more.......................................... 145 2 2 45 51 17 7 1 2

Ratios o f loans to total assets o f—

Less than 1 0 percent....................................... 43 27 6 6 3 1

1 0 to 2 0 percent............................................... 251 42 56 8 8 48 1 0 3 2 2

20 to 30 percent............................................... 1,141 1 2 2 254 432 213 92 19 8 1

30 to 40 percent............................................... 2,937 193 504 1,081 647 360 98 32 18 4

40 to 50 percent............................................... 4,537 233 705 1,443 1,004 755 191 106 8 6 14

50 to 60 percent............................................... 3,242 148 494 958 607 550 207 107 126 45

60 percent or more.......................................... 1,140 74 197 365 246 140 61 28 25 4

Ratios o f cash and due from banks to

total assets o f—

Less than 10 percent....................................... 3,018 91 476 1 ,0 0 1 690 492 151 71 40 6

10 to 15 percent............................................... 5,075 205 770 1,649 1,103 8 6 6 268 1 2 0 84 1 0

15 to 20 percent............................................... 3,022 183 515 1,030 636 391 118 62 61 26

20 to 25 percent............................................... 1,257 130 235 420 235 118 31 24 46 18

25 to 30 percent............................................... 530 91 1 2 0 180 6 8 32 9 6 17 7

30 to 35 percent............................................... 216 64 54 59 2 2 6 2 9

35 percent or more.......................................... 173 75 46 34 14 3 1

1

148 FEDERAL DEPOSIT INSURANCE CORPORATION

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Ratios o f total capital accounts to total

assets other than cash and due from

banks and U. S. Government obligations of—

Less than 10 percent....................................... 749 1 18 71 165 242 114 67 56 15

10 to 15 percent............................................... 4,755 44 325 1,264 1,297 1,113 338 170 161 43

15 to 20 percent............................................... 3,893 147 660 1,556 914 432 108 34 33 9

20 to 25 percent............................................... 1,817 144 480 838 249 85 1 0 5 6

25 to 30 percent............................................... 884 127 303 338 87 17 6 4 2

30 to 35 percent............................................... 435 1 0 0 151 140 28 1 2 2 2

35 to 40 percent............................................... 255 64 105 72 1 1 1 1 1

40 percent or more.......................................... 503 2 1 2 174 94 17 6

Ratios o f total capital accounts to total

assets other than cash and due from

banks, U. S. Government obligations, C.C.C. loans, and F.H.A. and

V.A. real estate loans of—

Less than 1 0 percent....................................... 516 1 16 48 107 186 78 42 31 7

10 to 15 percent............................................... 4,362 33 241 1,074 1,185 1,069 349 185 177 49

15 to 20 percent............................................... 3,958 109 603 1,541 985 498 127 43 41 11

20 to 25 percent............................................... 1,992 155 492 8 8 8 320 1 1 1 15 4 7

25 to 30 percent............................................... 1,017 1 1 2 351 422 97 2 0 7 6 2

30 to 35 percent............................................... 518 1 0 1 179 183 41 1 0 2 2

35 to 40 percent............................................... 314 74 1 2 2 96 14 6 1

1

40 percent or more.......................................... 614 254 2 1 2 1 2 1 19 8

Ratios o f total capital accounts to total

assets of—

Less than 4 percent......................................... 13 1 6 4 1 1

4 to 6 percent................................................... 524 1 19 6 8 125 180 63 36 25 7

6 to 8 percent................................................... 3,422 33 227 865 889 819 280 154 126 29

8 to 1 0 percent................................................. 4,566 128 638 1,662 1,131 645 175 71 90 26

1 0 to 1 2 percent............................................... 2,568 183 609 1,067 448 189 42 14 1 2 4

12 to 15 percent............................................... 1,415 234 443 522 134 58 14 6 3 1

15 percent or more.......................................... 783 260 280 189 40 11 1 1 1

Number of banks................................................ 13,291 839 2,216 4,373 2,768 1,908 579 283 258 67

Back figures, 1958—1962: See the Annual Report for 1962, pp. 138-139, and earlier reports.

ASSETS AND LIABILITIES OF BANKS 149

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Federal Reserve Bank of St. Louis
I n c o m e o f I n s u r e d B a n k s

Table 115. Ratios of income of insured commercial banks in the United States (States and 

other areas), 1955-1963

Table 116. Income of insured commercial banks in the United States (States and other 

areas), 1963

By class of bank

Table 117. Ratios of income of insured commercial banks in the United States (States and 

other areas), 1963 

By class of bank

Table 118. Income of insured commercial banks operating throughout 1963 in the United

States (States and other areas)

Banks grouped according to amount of deposits

Table 119. Ratios of income of insured commercial banks operating throughout 1963 in the 

United States (States and other areas)

Banks grouped according to amount of deposits

Table 120. Income of insured commercial banks in the United States (States and other 

areas), by State, 1963

Table 114. Income of insured commercial banks in the United States (States and other

areas), 1955-1963

Table 121. Income of insured mutual savings banks, 1955-1963 

Table 122. Ratios of income of insured mutual savings banks, 1955-1963

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
The income data received and published by the Corporation relate

to commercial and mutual savings banks insured by the Corporation.

Commercial banks

Reports of income and dividends are submitted to the Federal

supervisory agencies on either a cash or an accrual basis.

Income data are included for all insured banks operating at the end

of the respective years, unless indicated otherwise. In addition, appropriate adjustments have been made for banks in operation during

part of the year but not at the end of the year. Data for 4 insured

branches in Guam of 2 insured banks in California and Hawaii, for 4

insured branches in New York of 2 insured banks in Puerto Rico, for

15 insured branches in Puerto Rico and for 4 insured branches in the

Virgin Islands of insured banks in New York are not available.

The uniform Report of Income and Dividends (formerly called

Report of Earnings and Dividends) was revised extensively in 1961.

New items were added, combining components previously included in

other items; and some items were subsumed into new categories.

Thus certain items, even carrying the same designation (e.g. other

current operating expenses), are not comparable with data reported

for prior years.

The revised form breaks out the following items not previously

available separately: (1) benefits to officers and other employees; (2)

net occupancy expense of bank premises, with a supporting schedule;

(3) furniture and equipment expense (including costs related to the

purchase or rental of automated data processing systems); and (4)

losses on securities sold.

Two expense items previously reported separately have been combined with other items: (1) taxes other than on net income; and

(2) recurring depreciation on banking house, furniture and fixtures.

Taxes on bank premises, social security taxes paid in behalf of building employees, and recurring depreciation on banking house are now

included under occupancy expense of bank premises. Other social

security taxes are included with officer and employee benefits. Recurring depreciation on furniture and fixtures is now included with

furniture and equipment expense.

Revenue and expenses incident to “Federal funds” transactions

have been classified as “Interest and discount on loans” and “Interest

and discount on borrowed money,” respectively.

In addition to other minor changes in classification, new designations have been given to certain items. For example, the term “net

income” is the new equivalent of the former term “net profits.” A

further change entailed the division of officers and other employees

into two groups: those engaged in banking operations, and those

concerned with building operations.

Mutual savings banks

The present report of income and dividends for mutual savings

banks was first used by the Corporation for the calendar year 1951.

For a discussion of the history and principles of this report see pp.

50-52 in Part Two of the 1951 Annual Report.

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.

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 114. I n c o m e o f I n s u r e d C o m m e r c ia l B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), 1955-1963

(Amounts in thousands of dollars)

Income item 1955 1956 1957 1958 1959 1960 1961 1962 1963

Current operating revenue— total.........................

Interest on U. S. Government obligations..............

Interest and dividends on other securities..............

Interest and discount on loans.................................

Service charges and fees on loans............................

Service charges on deposit accounts........................

Other charges, commissions, fees, etc......................

Trust department.......................................................

Other current operating revenue..............................

Current operating expenses— total........................

Salaries—officers........................................................

Salaries and wages—other employees.....................

Officer and employee benefits...................................

Fees paid to directors and committees....................

Interest on time and savings deposits.....................

Interest 011 borrowed money....................................

Taxes other than on net income..............................

Recurring depreciation on banking house, furniture and fixtures.....................................................

Occupancy expense of bank premises—net............

Furniture and equipment.........................................

Other current operating expenses............................

Net current operating earnings.............................

Recoveries, transfers from valuation reserves, 

and profits—-to ta l...............................................

On securities:

Profits on securities sold or redeemed...............

Recoveries...............................................................

Transfers from valuation reserves........................

On loans:

Recoveries...............................................................

Transfers from valuation reserves........................

All other......................................................................

Losses, cliarge-offs, and transfers to valuation 

reserves—tota l.....................................................

On securities:

Losses on securities sold........................................

Charge-offs prior to sale........................................

Transfers to valuation reserves............................

On loans:

Losses and charge-offs...........................................

Transfers to valuation reserves............................

All other......................................................................

Net incom e before related taxes.........................

6,377,705

1,333,690

351,041

3,625,528

71,048

339,975

155,004

281,841

219,579

7,231,921

1,342,842

370,045

4,339,866

73,562

385,927

168,497

322,117

229,068

8,050,416

1,442,379

412,497

4,879,676

83,815

440,892

186,815

354,520

249,828

8,500,949

1,544,023

501,978

5,046,782

94,674

486,507

191,408

379,395

256,183

9,669,352

1,732,174

546,253

5,856,688

111,991

531,916

205,935

426,016

258,381

10,723,545

1,790,341

578,783

6,698,655

108,655

589,954

218,566

460,251

278,340

11,069,604

1,901,732

629,134

6,891,442

117,259

630,458

223,283

502,871

1173,425

12,218,959

2,093,207

759,030

7,578,200

139,645

681,243

237,446

543,916

x186,272

13,509,713

2,176,454 

921,060 

8,516,837 

155,478 

728,857 

248,362 

573,252 

1189,413

3,960,173

666,152

1,229,756

(3)

39,563

678,237

23,093

176,840

108,306

(6)

(7)

1,038,228

4,457,198

720,866

1,372,262

(3)

42,614

805,857

45,392

187,526

128,085

(6)

(7)

1,154,600

5,119,182

773,769

1,493,778

(3)

45,396

1,141,715

49,538

205,903

146,262

(6)

(7)

1,262,823

5,612,723

827,142

1,573,330

(3)

48,271

1,380,575

24,161

221,571

168,371

(6)

(7)

1,369,305

6,264,207

892,657

1,684,159

(3)

51,866

1,580,250

78,350

252,763

191,424

(6)

(7)

1,532,739

6,932,820

966,643

1,831,323

(3)

56,292 

1,785,0S6 

87,385 

285,801

212,493

(6)

(7)

1,707,797

7,440,492 

21,028,869 

n ,869,961 

377,494 

59,794 

2,106,645 

37,997 

(4)

(6)

510,691 

224,852 

si ,224,189

8,589,177

21,098,146

21,975,406

419,098

63,236

2,845,283

64,325

(4)

(5)

555,670 

267,885 

»1,300,128

9,714,980

21,183,264 

22 ,1 0 1 ,1 1 1 

457,033 

67,469 

3,464,308

106.517 

(4)

(:>)

608,462

311.518 

31,415,298

2,417,533 2,774,724 2,931,235 2,888,223 3,405,145 3,790,725 3,629,112 3,629,782 3,791,733

239,598

57,085

20,586

39,930

27,379

50,899

43,722

250,171

31,151

14,090

41,001

20,762

77,606

65,563

198,413

64,368

9,295

20,751

21,183

39,757

43,063

868,115

681,554

9,646

57,145

22,439

42,158

55,176

328,889

47,277

27,946

111,447

20,551

57,607

64,062

574,826

329,322

12,927

55,568

25,684

70,211

81,114

708,171

453,730

9,934

86,574

16,825

51,817

89,291

467,061

256,987

6,241

56,761

16,902

56,610

73,560

468,450

167,445

4,046

60,516

17,913

131,235

87,295

707,155

} 221,232 

67,276

28,159

303,600

8 6 , 8 8 8

993,534

317,381

101,830

32,018

452,940

89,369

757,432

237,480

84,996

25,636 

• 321,870 

87,452

783,213

93,657

268,159

25,053

282,227

114,117

1,361,515

745,081

168,003

25,459

318,965

104,006

978,422

219,767

156,232

35,760

451,667

114,996

935,461

/ 44,290 

121,354 

224,678

31,194

481,200

132,745

836,665

58,939

12,603

95,039

30,107

528,710

111,267

883,637

49,887

12,827

63,530

29,588

609,059

118,746

1,949,976 2,031,360 2,372,217 2,973,128 2,372,519 3,387,129 3,401,822 3,260,178 3,379,546

DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Taxes on net income— total....................................

Federal........................................................................

State............................................................................

Net income after related taxes...............................

Dividends and interest on capital—total............

Cash dividends declared on common stock............

Dividends declared on preferred stock and interest 

on capital notes and debentures..........................

Net additions to capital from income.................

793,737

753,883

39,855

814,636

769,843

44,793

998,397

947,998

50,401

1,271,459

1,198,890

72,570

884,458

832,797

51,661

1,384,397

1,300,940

83,457

1,406,102

1,317,292

88,810

1,256,382

1,159,725

96,657

1,226,783

1,130,629

96,154

1,156,240 1,216*725 1,373,821 1,701,667 1,488,061 2,002,732 1,995,720 2,003,796 2,152,763

566,124

563,543

2,581

616,890

614,501

2,389

678,101

675,867

2,234

725,866

723,500

2,366

776,386

774,167

2,219

831,546

829,522

2,024

895,053

893,230

1,823

941,189

939,426

1,763

993,374

990,039

3,335

590,118 599,835 695,720 975,802 711,675 1,171,186 1,100,667 1,062,607 1,159,389

Memoranda

Recoveries credited to valuation reserves (not included in recoveries above):

On securities...............................................................

On loans......................................................................

Losses charged to valuation reserves (not included in 

losses above):

On securities...............................................................

On loans......................................................................

3,146

39,794

68,140

88,417

3,332

42,717

95,505

123,529

2,646

50,824

74,529

117,937

10,410

69,073

19,741

127,515

5,585

73,790

207,061

122,315

18,294

68,232

47,716

264,405

9,911

73,844

22,463

249,500

4,714

84,863

16,305

238,825

6,216

96,897

17,314

323,475

Average assets and liabilities 9

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

202,331,676

43,510,745

63,808,049

16,294,075

75,800,688

2,918,119

209,712,780

45,728,691

58,257,149

16,179,498

86,291,628

3,255,814

214,790,440

45,474,318

57,238,574

16,725,206

91,493,989

3,858,353

228,359,687

46,766,041

62,355,819

19,237,561

95,666,835

4,333,431

237,577,389

46,881,654

61,878,548

20,284,525

103,872,351

4,660,311

246,776,722

49,317,003

57,773,429

20,092,632

114,275,450

5,318,208

254,198,199

46,613,211

61,792,135

21,660,321

117,969,985

6,162,547

274,220,778

49,438,670

64,519,914

25,761,084

127,789,110

6,712,000

298,940,778

50,997,566

64,058,431

31,421,875

145,028,233

7,434,673

202,331,676

184,734,232

135,422,891

49,311,341

2,965,764

14,631,680

209,712,780

190,786,522

139,690,432

51,096,090

3,372,960

15,553,298

214,790,440

193,993,484

139,023,597

54,969,887

4,242,293

16,554,663

228,359,687

206,196,015

143,813,475

62,382,540

4,440,097

17,723,575

237,577,389

213,428,979

146,599,745

66,829,234

5,410,250

18,738,160

246,776,722

220,099,028

150,451,481

69,647,547

6,712,522

19,965,172

254,198,199

225,214,703

147,556,175

77,658,528

7,694,509

21,288,987

274,220,778

243,319,550

153,849,494

89,470,056

8,197,420

22,703,808

298,940,778

264,069,489

159,561,973

104,507,516

10,587,389

24,283,900

Number of employees (including building employees), 

December 31:

Active officers............................................................

Other employees........................................................

84,931

408,791

88,462

433,563

91,597

452,218

95,308

457,023

98,934

481,666

103,211

506,596

107,279

526,101

112,458

543,695

117,147

531,820

Number of banks, December 31.................................. 13,237 13,218 13,165 13,124 13,114 13,126 13,115 13,124 13,291

1 Excludes rentals from bank premises; included with “ Occupancy expense of bank premises—net.”

2 Excludes compensation of building officers and other employees; included with “Occupancy expense of bank premises—net.”

3 Jnc!Uj 0(J wSM161, current operating expenses” , except Social Security taxes paid on bank’s account which were included with “ Taxes other than on net income.”

4 Included with ^‘Officer and employee benefits” , “ Occupancy expense of bank premises—net” , and “ Other current operating expenses.”

5 Included with ‘‘Occupancy expense of bank premises—net” , and “ Furniture and equipment.”

® Included with “ Taxes other than on net income,” “Recurring depreciation on banking house, Furniture and fixtures,” and “ Other current operating expenses.”

7 Included with “Recurring depreciation on banking house, furniture and fixtures” , and “ Other current operating expenses.”

8 Not comparable with amounts reported for previous years; see footnotes 3 , 4 , 6 , and 7.

a For 1955 through 1960, averages of amounts reported at beginning, middle, and end of year. For 1961 and 1962, averages of amounts for four consecutive official call dates be- ^ 

ginning with the end of the previous year and ending with the fall call of the current year. For 1963 averages of amounts reported at 1962 year-end, 1963 spring, mid-year and vear- ^ find pal s i-" o» j i j /* *

Note: Due to rounding differences, data for 1955-1959 may not add to total.

Back figures, 1934-1954: See the following Annual Reports: 1954, pp. 138-139; 1950, pp. 250-251; and 1941, pp. 158-159.

INCOME OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 115. R a t io s o p I n c o m e o f I n s u r e d C o m m e r c ia l B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), 1955-1963

Income item 1955 1956 1957 1958 1959 1960 1961 1962 1963

Am ounts per $100 o f current operating revenue

Current operating revenue— total............................................................ $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0

Interest on U. S. Government obligations................................................ 20.91 18.57 17.92 18.16 17.91 16.69 17.18 17.13 16.11

Interest and dividends on other securities................................................ 5.51 5.12 5.12 5.91 5.65 5.40 5.68 6 . 2 1 6.82

Income on loans............................................................................................ 57.96 61.03 61.65 60.48 61.73 63.48 63.31 63.16 64.19

Service charges on deposit accounts........................................................... 5.33 5.33 5.48 5.72 5.50 5.50 5.70 5.58 5.39

Other charges, commissions, fees, etc......................................................... 2.43 2.33 2.32 2.25 2.13 2.04 2 . 0 2 1.94 1.84

Other current operating revenue................................................................ 7.86 7.62 7.51 7.48 7.08 6.89 16.11 15.98 15.65

Current operating expenses— tota l.......................................................... 62.09 61.63 63.59 6 6 . 0 2 64.78 64.65 67.22 70.29 71.91

Salaries, wages, and fees.............................................................................. 30.35 29.53 28.73 28.80 27.19 26.62 226.73 225.67 224.81

Officer and employee benefits...................................................................... (3) (3) (3) (3) (3) (3) 3.41 3.43 3.38

Interest on time and savings deposits........................................................ 10.63 11.14 14.18 16.24 16.34 16.65 19.03 23.28 25.64

Taxes other than on net income................................................................. 2.77 2.60 2.56 2.61 2.61 2 . 6 6 (4) (4) (4) Recurring depreciation on banking house, furniture and fixtures.......... 1.70 1.77 1.82 1.98 1.98 1.98 (5) (5) (6) Occupancy expense of bank premises—net............................................... (8) (6) (6) (6) (6) (6) 4.61 4.55 4.50

Furniture and equipment............................................................................ (7) (7) (7) (7) (7) (7) 2.03 2.19 2.31

Other current operating expenses............................................................... 16.64 16.59 16.30 16.39 16.66 16.74 811.41 811.17 811.27

Net current operating earnings................................................................ 37.91 38.37 36.41 33.98 35.22 35.35 32.78 29.71 28.09

Amounts per $100 o f total assets 9

Current operating revenue—total.................................................................. 3.15 3.45 3.74 3.72 4.07 4.35 4.35 4.45 4.52

Current operating expenses—total................................................................. 1.96 2.13 2.38 2.46 2.64 2.81 2.92 3.13 3.25

Net current operating earnings...................................................................... 1.19 1.32 1.36 1.26 1.43 1.54 1.43 1.32 1.27

Recoveries, transfers from valuation reserves, and profits—total..............

Losses, charge-offs, and transfers to valuation reserves—total...................

. 1 2 . 1 2 .09 .38 .14 .23 .28 .17 .16

.35 .47 .35 .34 .57 .40 .37 .30 .30

Net income before related taxes..................................................................... .96 .97 1 . 1 0 1.30 1 . 0 0 1.37 1.34 1.19 1.13

Net income after related taxes........................................................................ .57 .58 .64 .75 .63 .81 .79 .73 .72

Amounts per $100 o f total capital accounts 9

Net current operating earnings...................................................................... 16.52 17.84 17.71 16.30 18.17 18.99 17.05 15.99 15.63

Recoveries, transfers from valuation reserves, and profits—total.............. 1.64 1.61 1 . 2 0 4.89 1.76 2 . 8 8 3.32 2.06 1.93

Losses, charge-offs, and transfers to valuation reserves—total................... 4.83 6.39 4.58 4.42 7.27 4.90 4.39 3.69 3.64

Net income before related taxes..................................................................... 13.33 13.06 14.33 16.77 1 2 . 6 6 16.97 15.98 14.36 13.92

Taxes on net income........................................................................................ 5.43 5.24 6.03 7.17 4.72 6.94 6.61 5.53 5.06

Net income after related taxes........................................................................ 7.90 7.82 8.30 9.60 7.94 10.03 9.37 8.83 8 . 8 6

Cash dividends declared.................................................................................. 3.87 3.96 4.10 4.09 4.14 4.16 4.20 4.15 4.09

Net additions to capital from income............................................................ 4.03 3.86 4.20 5.51 3.80 5.87 5.17 4.68 4.77

Special ratios 9

Income on loans per $100 of loans................................................................. 4.88 5.11 5.42 5.37 5.75 5.96 5.94 6.04 5.98

Income on U. S. Government obligations per $100 of U. S. Government

obligations..................................................................................................... 2.09 2.31 2.52 2.48 2.80 3.10 3.08 3.24 3.40

Income on other securities per $100 of other securities............................... 2.15 2.29 2.47 2.61 2.69 2 . 8 8 2.90 2.95 2.93

Service charges per $100 of demand deposits............................................... .25 .28 .32 .34 .36 .39 .43 .44 .46

Interest paid per $100 of time and savings deposits.................................... 1.38 1.58 2.08 2 . 2 1 2.36 2.56 2.71 3.18 3.31

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Assets and liabilities per $100 of total assets 9

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 saving deposits..........................................................................

Borrowings and other liabilities..................................................................

Total capital accounts.................................................................................

100.00

21.51

31.54

8.05

37.46

1.44

100.00

21.81

27.78

7.71

41.15

1.55

100.00

21.17

26.65

7.79 

42.60

1.79

100.00

20.48

27.31

8.42

41.89

1.90

100.00

19.73

26.05

8.54

43.72

1.96

100.00

19.98

23.41

8.14

46.31

2.16

100.00

18.34

24.31

8.52

46.41

2.42

100.00

18.03

23.53

9.39

46.60

2.45

100.00

17.06

21.43

10.51

48.51 

2.49

100.00

91.30

66.93

24.37

1.47

7.23

100.00

90.97

66.61

24.36

1.61

7.42

100.00

90.32

64.73

25.59

1.97

7.71

100.00

90.30

62.98

27.32

1.94

7.76

100.00

89.83

61.70

28.13

2.28

7.89

100.00

89.19

60.97

28.22

2.72

8.09

100.00

88.60

58.05

30.55

3.03

8.37

100.00

88.73

56.10

32.63

2.99

8.28

100.00

88.34

53.38

34.96

3.54

8 . 1 2

Number of banks, December 31..................................................................... 13,237 13,218 13,165 13,124 13,114 13,126 13,115 13,124 13,291

1 Excludes rentals from bank premises; included with “ Occupancy expense of bank premises—net.”

2 Excludes compensation of building officers and other employees; included with “ Occupancy expense of bank premises—net.”

3 Included with ‘‘Other current operating expenses” , except Social Security taxes paid on bank’s account which were included with “Taxes other than on net income.”

4 Included with “ Officer and employee benefits” , “ Occupancy expense of bank premises—net,” and “ Other current operating expenses.”

5 Included with “ Occupancy expense of bank premises—net” , and “ Furniture and equipment.”

6 Included with “ Taxes other than on net income,” “Recurring depreciation on banking house, furniture and fixtures,” and “ Other current operating expenses.”

7 Included with “Recurring depreciation on banking house, furniture and fixtures” , and “ Other current operating expenses.”

8 Not comparable with amounts reported for previous years; see footnotes 3, 4, 6 , and 7.

9 For 1955 through 1960, averages of amounts reported at beginning, middle, and end of year. For 1961 and 1962, averages of amounts for four consecutive official call dates beginning with the end of the previous year and ending with the fall call of the current year. For 1963 averages of amounts reported at 1962 year-end, 1963 spring, mid-year, and yearend calls.

Back figures, 1934-1954: See the following Annual Reports: 1954, pp. 140-141; 1950, pp. 252-253; and 1941, pp. 160-161.

Cn

Cti INCOME OF INSURED B A N K S

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Federal Reserve Bank of St. Louis
Table 116. I n c o m e o f I n s u r e d C o m m e r c ia l B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), 1963

BY CLASS OF BANK

(Amounts in thousands of dollars)

Members F. R. System Not

members Operating Operating

Income Total

National State

F. R.

System

throughout 

the year

less than 

full year

Current operating revenue-—total.......................................................................... 13,509,713 7,302,471 3,857,367 2,349,875 13,399,271 110,442

Interest on U. S. Government obligations............................................................... 2,176,454 1,171,285 553,919 451,250 2,157,593 18,861

Interest and dividends on other securities............................................................... 921,060 504,854 268,225 147,981 914,686 6,374

Interest and discount on loans.................................................................................. 8,516,837 4,655,782 2,416,996 1,444,059 8,448,354 68,483

Service charges and fees on loans.............................................................................. 155,478 83,090 43,944 28,444 153,514 1,964

Service charges on deposit accounts......................................................................... 728,857 408,787 158,895 161,175 719,832 9,025

Other charges, commissions, fees, etc........................................................................ 248,362 113,394 66,876 68,092 245,789 2,573

Trust department........................................................................................................ 573,252 260,970 286,510 25,772 571,091 2,161

Other current operating revenue............................................................................... 189,413 104,309 62,002 23,102 188,412 1 , 0 0 1

Current operating expenses—total......................................................................... 9,714,980 5,228,765 2,695,988 1,790,227 9,618,937 96,043

Salaries—officers......................................................................................................... 1,183,264 607,954 283,425 291,885 1,171,618 11,646

Salaries and wages—other employees....................................................................... 2 ,1 0 1 , 1 1 1 1,131,033 635,151 334,927 2,080,247 20,864

Officer and employee benefits.................................................................................. 457,033 242,598 149,947 64,488 453,605 3,428

Fees paid to directors and committees..................................................................... 67,469 31,014 1 2 , 2 0 1 24,254 66,865 604

Interest on time and savings deposits...................................................................... 3,464,308 1,917,349 940,251 606,708 3,433,710 30,598

Interest on borrowed money..................................................................................... 106,517 57,070 47,004 2,443 106,329 188

Occupancy expense of bank premises—net.............................................................. 608,462 313,563 186,707 108,192 601,574 6 , 8 8 8

Furniture and equipment........................................................................................... 311,518 173,699 81,086 56,733 308,157 3,361

Other current operating expenses............................................................................. 1,415,298 754,485 360,216 300,597 1,396,832 18,466

Net current operating earnings............................................................................... 3,794,733 2,073,706 1,161,379 559,648 3,780,334 14,399

Recoveries, transfers from valuation reserves, and profits—total.................

On securities:

468,450 303,794 105,223 59,433 465,886 2,564

Profits on securities sold or redeemed.................................................................. 167,445 88,053 52,262 27,130 166,513 932

Recoveries................................................................................................................ 4,046 2,340 562 1,144 4,026 2 0

Transfers from valuation reserves.........................................................................

On loans:

60,516 44,764 11,941 3,811 60,314 2 0 2

Recoveries................................................................................................................ 17,913 8,062 2,489 7,362 17,851 62

Transfers from valuation reserves......................................................................... 131,235 105,038 19,323 6,874 130,894 341

All other....................................................................................................................... 87,295 55,537 18,646 13,112 86,288 1,007

Losses, charge-offs, and transfers to valuation reserves—total.....................

On securities:

883,637 483,557 253,958 146,122 877,334 6,303

Losses on securities sold......................................................................................... 49,887 27,750 15,176 6,961 48,773 1,114

Charge-offs prior to sale......................................................................................... 12,827 6,306 3,611 2,910 12,785 42

Transfers to valuation reserves..............................................................................

On loans:

63,530 39,259 17,187 7,084 63,396 134

Losses and charge-offs............................................................................................ 29,588 12,527 3,638 13,423 29,385 203

Transfers to valuation reserves.............................................................................. 609,059 329,596 186,852 92,611 605,788 3,271

All other....................................................................................................................... 118,746 68,119 27,494 23,133 117,207 1,539

Net income before related taxes.............................................................................. 3,379,546 1,893,943 1,012,644 472,959 3,368,886 10,660

156 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Taxes on net income

— total....................................................................

Federal.........................................................................

State.............................................................................

1,226,783

1,130,629 

96,154

688,026

637,099

50,927

388,892

352,368

36,524

149,865

141,162

8,703

1,220,538

1,125,209

95,329

6,245

5,420

825

Net income after related taxes............................................................. 2,152,763 1,205,917 623,752 323,094 2,148,348 4,415

Dividends and interest on capital— total..............................................

Cash dividends declared on common stock........................................

Dividends declared on preferred stock and interest on capital notes and 

debentures.................................................................................

993,374

990,039

3,335

548,186

547,060

1,126

328,137

326,685

1,452

117,051

116,294

757

987,515

984,189

3,326

5,859

5,8509

Net additions to capital from income........................................ 1,159,389 657,731 295,615 206,043 1,160,833 -1 ,444

Number of banking employees (exclusive of building employees), December 31:

Active officers..............................................................

Other employees......................................................... 117,147

531,820

58,238

287,498

23,703

145,234

35,206

99,088

116,112

528,340

1,035

3,480

Memoranda

Recoveries credited to valuation reserves (not included in recoveries above):

On securities............................................................................

On loans................................................................................

Losses charged to valuation reserves (not included in losses above) :

On securities.................................................................................

On loans....................................................................................

6,216

96,897

17,314

323,475

5,306

60,402

11,867

177,661

418

2 1 , 2 0 2

2,993

95,778

492

15,293

2,454

50,036

6 , 2 1 2

96,113

17,297

320,323

4

784

17

3,152

Occupancy expense of bank premises

Occupancy expense of bank premises, net—total.............................................

Rental and other income....................................................................

Occupancy expense of bank premises, gross—total..........................................

Salaries—building department officers...................................................................

Salaries and wages—building department employees............................................

Building department personnel benefits................................................................

Recurring depreciation............................................................................

Maintenance and repairs........................................................................

Insurance and utilities................................................................................

Rents paid....................................................................................................

608,462

152,446

760,908

1,953

86,587

10,578

132,128

85,615

131,465

202,424

110,158

313,563

95,894

409,457

1,186

50,048

5,998

75,058

51,333

68,435

94,717

62,682

186,707

42,699

229,406

602

25,401

3,788

35,358

19,384

38,258

76,283

30,332

108,192

13,853

122,045

165

11,138

792

21,712

14,898

24,772

31,424

17,144

601,574

152,038

753,612

1,922

85,939

10,506

131,191

84,902

130,102

199,614

109,436

6 , 8 8 8

408

7,296

31

648

72

937

713

1,363

2,810

722

Number of building employees, December 31:

Officers.................................................................................................................

Other employees................................................................................................. 304

31,194

152

16,811

56

7,397

96

6,986

300

31,034

4

160

Number of banks, December 31................................................................ 13,291 4,615 1,492 7,184 12,984 307

Note: For average asset and liability data see Table 110, p. 144.

Back figures, 1934-1962: See Table 114, p. 152, the Annual Report for 1962, pp. 146-147, and earlier reports.

INCOME OF INSURED BANKS 157

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Federal Reserve Bank of St. Louis
Cn

00

Table 117. R a t io s o f I n c o m e o f I n s u r e d C o m m e r c ia l B a n k s in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s ), 1963

BY CLASS OF BANK

Members F. R. System Not

members

Income item Total

National State

F. R.

System

Amounts per $100 of current operating revenue

$100.00

16.11

$100.00

16.04

$100.00 $100.00

14.36 19.20

6.82 6.91 6.95 6.30

Income on loans................................................................................................................................................................... 64.19 64.90 63.80 62.66

Service charges on deposit accounts.................................................................................................................................. 5.39 5.60 4.12 6 . 8 6

Other service charges, commissions, fees, etc................................................................................................................... 1.84 1.55 1.73 2.90

Other current operating revenue....................................................................................................................................... 5.65 5.00 9.04 2.08

Current operating expenses- “total................................................................................................................................. 71.91 71.60 69.89 76.18

Salaries, wages, and fees..................................................................................................................................................... 24.81 24.24 24.13 27.71

Officer and employee benefits............................................................................................................................................. 3.38 3.32 3.89 2.74

Interest on time and savings deposits.............................................................................................................................. 25.64 26.26 24.37 25.82

Occupancy expense of bank premises—net...................................................................................................................... 4.50 4.29 4.84 4.60

Furniture and equipment................................................................................................................................................... 2.31 2.38 2 . 1 0 2.41

Other current operating expenses...................................................................................................................................... 11.27 1 1 . 1 1 10.56 12.90

Net current operating earnings....................................................................................................................................... 28.09 28.40 30.11 23.82

Amounts per $100 of total assets 1

Current operating revenue—total......................................................................................................................................... 4.52 4.48 4.35 4.97

Current operating expenses—total........................................................................................................................................ 3.25 3.21 3.04 3.79

Net current operating earnings............................................................................................................................................. 1.27 1.27 1.31 1.18

Recoveries, transfers from valuation reserves, and profits—total..................................................................................... .16 .19 . 1 2 .13

Losses, charge-offs, and transfers to valuation reserves—total......................................................................................... .30 .30 .29 .31

Net income before related taxes............................................................................................................................................ 1.13 1.18 1.14 1 . 0 0

Net income after related taxes.............................................................................................................................................. .72 .74 .70 . 6 8

Memoranda

Recoveries credited to valuation reserves (not included in recoveries above):

On securities ....................................................................................................................................................................... (2)

.03

(2)

.04

(2) (2)

. 0 2 .03

Losses charged to valuation reserves (not included in losses above):

On securities......................................................................................................................................................................... . 0 1 . 0 1 (2) . 0 1

. 1 1 . 1 1 . 1 1 . 1 1

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Am ounts per $100 o f total capital accounts1

Net current operating earnings......................................................................................................

Recoveries, transfers from valuation reserves, and profits—total..............................................

Losses, charge-offs, and transfers to valuation reserves—total...................................................

Net income before related taxes.....................................................................................................

Taxes on net income........................................................................................................................

Net income after taxes..................................................................................." .'.I !.'!!!.'!!!!!!!!

Cash dividends declared..................................................................................................................

Net additions to capital from income............................................................................................

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

Special ratios1

Income on loans per $100 of loans.................................................................................................

Income on U. S. Government obligations per $ 1 0 0 of U. S. Government obligations...............

Income on other securities per $ 1 0 0 of other securities.................................................................

Service charges per $100 of demand deposits.................................................................................

Interest paid per $100 of time and savings deposits.....................................................................

Occupancy expense o f bank premises per $100 o f current operating revenue 

Occupancy expense o f bank premises, net—total...............................................................

Rental^and other income.................................................................................................................

Occupancy expense o f bank premises, gross—total............................................................

Salaries and wages—building department officers and employees..........................................

Building department personnel benefits....................................................................................

Recurring depreciation................................................................................................................

Maintenance and repairs.............................................................................................................

Insurance and utilities.................................................................................................................

Rents !paid.....................................................................................................................................

Taxes.......................................................................................................................... ...................

Number of banks, December 31

^For average asset and liability data see Table 110, p. 144.

^Less than .005.

Back figures, 1934-1962: See Table 115, p. 154, the Annual Report for 1962, pp. 148-149, and earlier reports.

15.63 15.93 16.05 13.89

1.93 2.33 1.45 1.48

3.64 3.71 3.51 3.63

13.92 14.55 13.99 11.74

5.06 5.29 5.37 3.72

8 . 8 6 9.26 8.62 8 . 0 2

4.09 4.21 4.53 2.91

4.77 5.05 4.09 5.11

.03 .04 . 0 1 . 0 1

.40 .46 .29 .38

.07 .09 .04 .06

1.33 1.36 1.32 1.24

5.98 6.03 5.58 6.60

3.40 3.41 3.33 3.46

2.93 2.91 3.00 2.90

.46 .47 .33 . 6 8

3.31 3.33 3.36 3.19

4.50 4.29 4.84 4.60

1.13 1.32 1 . 1 1 .59

5.63 5.61 5.95 5.19

. 6 6 .70 .67 .48

.08 .08 . 1 0 .03

.98 1.03 .92 .92

.63 .70 .50 .63

.97 .94 .99 1.06

1.50 1.30 1.98 1.34

.81 . 8 6 .79 .73

13,291 4,615 1,492 7,184

Ox

COINCOME OF INSURED BANKS

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Federal Reserve Bank of St. Louis
Table 118. I n c o m e o f I n s u r e d C o m m e r c ia l B a n k s O p e r a t in g T h r o u g h o u t 1983 in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s )

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS

Banks with deposits of—2

Income item An

banks1 Less $1 ,0 0 0 , 0 0 0 $2 ,0 0 0 , 0 0 0 $5,000,000 $1 0 ,0 0 0 , 0 0 0 $25,000,000 $50,000,000 $ 1 0 0 ,0 0 0 , 0 0 0 $500,000,000

than to to to to to to to or

$1 ,0 0 0 , 0 0 0 $2 ,0 0 0 , 0 0 0 $5,000,000 $1 0 ,0 0 0 , 0 0 0 $25,000,000 $50,000,000 m

o©oo

©

8o

$500,000,000 more

(Amountsi in thousandsj of dollars)

Current operating revenue— total.............. 13,399,271 27,800 160,501 708,755 958,172 1,463,519 1,003,375 997,543 2,704,027 5,375,579

Interest on U. S. Government obligations.. . 2,157,593 6,542 37,556 159,868 196,604 284,579 188,445 180,480 415,881 687,638

Interest and dividends on other securities.. . 914,686 1,055 7,607 42,801 67,416 102,344 67,653 69,729 173,324 382,757

Interest and discount on loans...................... 8,448,354 17,034 98,654 433,003 586,168 891,927 613,483 616,744 1,722,838 3,468,503

Service charges and fees on loans.................. 153,514 1 0 2 719 4,217 6,954 13,812 12,282 11,595 33,707 70,126

Service charges on deposit accounts............. 719,832 1,245 7,643 39,616 65,519 111,905 70,147 62,352 144,120 217,285

Other charges, commissions, fees, etc............ 245,789 1,264 6,769 22,126 22,325 27,677 18,080 15,682 43,206 88,660

Trust department............................................ 571,091 218 58 853 4,918 17,349 22,892 32,053 142,848 349,902

Other current operating revenue................... 188,412 340 1,495 6,271 8,268 13,926 10,393 8,908 28,103 110,708

Current operating expenses— total............. 9,618,937 20,662 119,449 529,891 717,139 1,109,465 758,947 744,666 1,921,933 3,696,785

Salaries—officers............................................. 1,171,618 7,478 34,951 117,082 123,914 156,805 96,318 87,990 213,401 333,679

Salaries and wages—other employees........... 2,080,247 2,276 14,611 78,155 121,497 213,313 156,873 155,997 458,667 878,858

Officer and employee benefits........................ 453,605 548 3,313 16,545 24,535 41,725 31,159 33,866 94,443 207,471

Fees paid to directors and committees......... 66,865 643 3,151 12,192 12,583 13,654 6,305 4,729 8,279 5,329

Interest on time and savings deposits.......... 3,433,710 4,532 34,540 174,972 251,668 394,072 270,660 267,746 633,948 1,401,572

Interest on borrowed money.......................... 106,329 15 118 521 587 1,361 1,662 2,638 15,403 84,024

Occupancy expense of bank premises—net.. 601,574 1,182 6,081 28,388 41,203 68,485 47,471 46,249 119,298 243,217

Furniture and equipment............................... 308,157 460 3,188 16,187 23,041 36,783 24,618 25,261 68,125 110,494

Other current operating expenses.................. 1,396,832 3,528 19,496 85,849 118,111 183,267 123,881 120,190 310,369 432,141

Net current operating earnings................... 3,780,334 7,138 41,052 178,864 241,033 354,054 244,428 252,877 782,094 1,678,794

Recoveries, transfers from valuation reserves, and profits—total....................... 465,886 859 3,519 15,689 22,920 34,525 26,411 30,790 85,697 245,476

On securities:

Profits on securities sold or redeemed. . . . 166,513 105 793 6,182 10,672 17,824 12,994 13,322 38,040 66,581

Recoveries.................................................... 4,026 51 84 401 532 1,440 570 596 247 105

Transfers from valuation reserves............. 60,314 14 147 859 1,464 3,392 3,804 4,372 9,688 36,574

On loans:

Recoveries.................................................... 17,851 566 1,716 4,964 3,533 2,344 959 457 1,372 1,940

Transfers from valuation reserves............. 130,894 29 266 944 3,052 3,200 3,460 5,116 9,077 105,750

All other........................................................... 86,288 94 513 2,339 3,667 6,325 4,624 6,927 27,273 34,526

Losses, charge-offs, and transfers to

valuation reserves—total....................... 877,334 1,459 7,744 39,728 55,454 89,501 60,916 65,008 160,130 397,394

On securities:

Losses on securities sold............................. 48,773 27 249 1,730 2,625 4,148 4,788 3,571 7,530 24,105

Charge-offs prior to sale............................. 12,785 62 2 1 0 1,589 2,148 2,837 652 555 850 3,882

Transfers to valuation reserves................. 63,396 24 114 608 1,263 4,215 2,962 3,430 19,223 31,557

On loans:

Losses and charge-offs................................ 29,385 905 3,058 9,190 6,647 4,925 1,563 687 2 , 0 1 2 398

Transfers to valuation reserves................. 605,788 246 2,796 19,641 32,832 60,211 42,555 47,641 105,781 294,085

All other........................................................... 117,207 195 1,317 6,970 9,939 13,165 8,396 9,124 24,734 43,367

Net income before related taxes.................. 3,368,886 6,538 36,827 154,825 208,499 299,078 209,923 218,659 707,661 1,526,876

160 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e— tota l.........................

Federal.............................................................

State .................................................................

1,220,538

1,125,209

95,329

1,778

1,696

82

9,815

9,290

525

43,754

41,378

2,376

64,321

61,144

3,177

100,401

95,982

4,419

74,365

70,686

3,679

78,847

75,190 

3,657

275,820

261,647

14,173

571,437

508,196

63,241

Net incom e after related taxes.................... 2,148,348 4,760 27,012 111,071 144,178 198,677 135,558 139,812 431,841 955,439

Dividends and interest on capital— total.. 987,515 1,780 9,400 38,565 51,522 74,675 55,337 60,186 203,807 492,243

Cash dividends declared on common stock.. 984,189 1,779 9,397 38,537 51,432 74,503 55,016 60,003 202,945 490,577

Dividends declared on preferred stock and 

interest on capital notes and debentures.. 3,326 1 3 28 90 172 321 183 862 1 , 6 6 6

Net additions to capital from in com e....... 1,160,833 2,980 17,612 72,506 92,656 124,002 80,221 79,626 228,034 463,196

Number of banking employees (exclusive of 

building employees), December 31:

Active officers.................................................. 116,112 1,672 5,940 16,025 14,631 16,173 9,054 7,763 17,908 26,946

Other employees.............................................. 528,340 1,053 5,539 26,519 37,023 62,163 44,208 42,832 117,260 191,743

Memoranda

Recoveries credited to valuation reserves (not 

included in recoveries above);

On securities..................................................... 6 , 2 1 2

96,113

17 61 143 332 302 217 494

17,520

4,646 On loans........................................................... 109 913 5,677 8,964 12,769 7,601 7,554 35,006

Losses charged to valuation reserves (not 

included in losses above):

On securities..................................................... 17,297 2 23 53 232 979 1,782 1,027 3,164 10,035

On loans........................................................... 320,323 214 1,812 12,659 20,274 37,338 25,837 26,537 60,075 135,577

Occupancy expense o f bank 

premises

Occupancy expense o f bank premises,

net—tota l................................................... 601,574 1,182 6,081 28,388 41,203 68,485 47,471 46,249 119,298 243,217

Rental and other income................................... 152,038 6 8 554 2,941 4,357 9,560 12,889 13,773 55,986 51,910

Occupancy expense o f bank premises, 

gross— total................................................ 753,612 1,250 6,635 31,329 45,560 78,045 60,360 60,022 175,284 295,127

Salaries— building department officers......... 1,922 1 6 23 40 50 104 138 642 918

Salaries and wages—building department 

employees..................................................... 85,939 48 493 3,219 5,049 8,895 7,683 7,908 23,397 29,247

Building department personnel benefits....... 10,506 1 1 1 137 309 714 739 894 3,022 4,679

Recurring depreciation................................... 131,191 144 1,099 6,495 10,024 15,950 1 1 , 2 1 1 10,546 28,243 47,479

Maintenance and repairs................................ 84,902 198 1,013 4,116 5,388 1 0 , 1 1 1 7,305 7,510 18,068 31,193

Insurance and utilities.................................... 130,102 530 2,305 8,563 10,317 14,905 9,987 8,913 27,258 47,324

Rents paid........................................................ 199,614 74 593 3,529 6,711 14,758 13,676 14,885 48,304 97,084

Taxes................................................................. 109,436 254 1,115 5,247 7,722 12,662 9,655 9,228 26,350 37,203

Number of building employees, December 31: 

Officers.............................................................. 300 6 25 29 38 18 30 2 1 59 74

Other employees.............................................. 31,034 157 974 3,342 2,994 3,600 2,791 2 , 8 8 8 7,445 6,843

Number of banks, December 31........................ 12,984 726 2,127 4,310 2,741 1,898 575 283 257 67

1 This group of banks is the same as the group shown in Table 116 under the heading “ Operating throughout the year.” Oi

2 For asset and liability data see Table 111, p. 145. h“t

Back figures, 1941-1962: See the Annual Report for 1962, pp. 150-151, and earlier reports.

INCOME OF INSURED B A N K S

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 119. R a t io s o f In co m e o f I n s u r e d C o m m e r cia l B a n k s O p e r a tin g T h r o u g h o u t 1963 in t h e U n it e d S t a t e s (S t a t e s a n d O t h e r A r e a s )

BANKS GROUPED ACCORDING TO AMOUNT OF DEPOSITS £5

Banks with deposits of— 2

Income item All

banks1 Less

than

$1 ,0 0 0 , 0 0 0

$1 ,0 0 0 , 0 0 0

to

$2 ,0 0 0 , 0 0 0

$2 ,0 0 0 , 0 0 0

to

$5,000,000

$5,000,000

to

$1 0 ,0 0 0 , 0 0 0

$1 0 ,0 0 0 , 0 0 0

to

$25,000,000

$25,000,000

to

$50,000,000

$50,000,000

to

$1 0 0 ,0 0 0 , 0 0 0

$1 0 0 ,0 0 0 , 0 0 0

to

$500,000,000

$500,000,000

or

more

Amounts per $100 o f current 

operating revenue

Current operating revenue-—to ta l.............. $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0 $1 0 0 . 0 0

Interest on U. S. Government obligations.. . 16.10 23.53 23.40 22.56 20.52 19.44 18.78 18.09 15.38 12.79

Interest and dividends on other securities.. . 6.83 3.79 4.74 6.04 7.03 6.99 6.74 6.99 6.41 7.12

Income on loans.............................................. 64.20 61.64 61.91 61.69 61.90 61.89 62.37 62.99 64.96 65.83

Service charges on deposit accounts............. 5.37 4.48 4.76 5.59 6.84 7.65 6.99 6.25 5.33 4.04

Other service charges, commissions, fees, etc. 1.83 4.55 4.22 3.12 2.33 1.89 1.80 1.57 1.60 1.65

Other current operating revenue................... 5.67 2 . 0 1 .97 1 . 0 0 1.38 2.14 3.32 4.11 6.32 8.57

Current operating expenses—-total............. 71.79 74.32 74.42 74.76 74.84 75.81 75.64 74.65 71.08 68.77

Salaries, wages, and fees................................. 24.77 37.40 32.84 29.27 26.93 26.22 25.86 24.93 25.16 2 2 . 6 6

Officer and employee benefits........................ 3.38 1.97 2.06 2.33 2.56 2.85 3.11 3.40 3.49 3.86

Interest on time and savings deposits.......... 25.63 16.30 21.52 24.69 26.26 26.93 26.98 26.84 23.45 26.07

Occupancy expense of bank premises—net. . 4.49 4.25 3.79 4.00 4.30 4.68 4.73 4.64 4.41 4.52

Furniture and equipment............................... 2.30 1 . 6 6 1.99 2.28 2.40 2.51 2.45 2.53 2.52 2.06

Other current operating expenses.................. 1 1 . 2 2 12.74 1 2 . 2 2 12.19 12.39 12.62 12.51 12.31 12.05 9.60

Net current operating earnings................... 28.21 25.68 25.58 25.24 25.16 24.19 24.36 25.35 28.92 31.23

Amounts per $ 1 0 0 o f total assets2

Current operating revenue—total.................... 4.32 4.47 4.48 4.44 4.51 4.58 4.53 4.47 4.36 4.13

Current operating expenses—total................... 3.10 3.32 3.33 3.32 3.38 3.47 3.43 3.34 3.10 2.84

Net current operating earnings......................... 1 . 2 2 1.15 1.15 1 . 1 2 1.13 1 . 1 1 1 . 1 0 1.13 1.26 1.29

Recoveries, transfers from valuation reserves,

and profits—total........................................ .15 .14 . 1 0 . 1 0 . 1 1 .1 1 . 1 2 .14 .14 .19

Losses, charge-offs, and transfers to valuation

reserves—total............................................. .28 .24 . 2 2 .25 .26 .28 .27 .29 .26 .31

Net income before related taxes....................... 1.09 1.05 1.03 .97 .98 .94 .95 .98 1.14 1.17

Net income after related taxes.......................... .69 .77 .75 .70 . 6 8 .62 .61 .63 .70 .73

Memoranda

Recoveries credited to valuation reserves 

(not included in recoveries above) :

On securities................................................... (3) (3)

.03

(3) (3) (3)

.04

(3)

.03

(3)

.03

(3)

.03

(3)

On loans........................................................... . 0 2 .03 .04 .04 .03

Losses charged to valuation reserves (not 

included in losses above):

On securities.................................................... . 0 1 (3) (3) (3) (3) (3) .0 1 (3) .0 1 .0 1

On loans........................................................... . 1 0 .03 .05 .08 . 1 0 . 1 2 . 1 2 . 1 2 . 1 0 . 1 0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Amounts per $100 o f total capital 

accounts2

Net current operating earnings.........................

Recoveries, transfers from valuation reserves,

and profits—total........................................

Losses, charge-offs, and transfers to valuation

reserves—total.............................................

Net income before related taxes.......................

Taxes on net income...........................................

Net income after taxes.......................................

Cash dividends declared.....................................

Net additions to capital from income...............

15.06

1 . 8 6

3.50

13.42

4.86

8.56

3.94

4.62

8.94

1.08

1.83

8.19

2.23 

5.96

2.23 

3.73

10.33

.89

1.95

9.27

2.47

6.80

2.37

4.43

11.52

1 . 0 1

2.56

9.97

2.82

7.15

2.48

4.67

12.96

1.23

2.98 

1 1 . 2 1

3.46

7.75

2.77

4.98

13.82

1.34

3.49

11.67

3.92

7.75

2.91

4.84

14.18

1.53

3.53

12.18 

4.32 

7.86 

3.21 

4.65

14.90

1.81

3.83

1 2 . 8 8

4.64

8.24

3.55

4.69

16.13

1.76

3.30

14.59

5.69 

8.90 

4.20

4.70

16.18

2.36

3.83

14.71

5.50

9.21

4.75

4.46

Memoranda

Recoveries credited to reserve accounts (not 

included in recoveries above):

On securities.....................................................

On loans...........................................................

. 0 2

.38 .14

(3)

.23

(3)

.37

.0 1

.48

.0 1

.50

. 0 2

.44

. 0 1

.44

. 0 1

.36

.04

.34 Losses charged to reserve accounts (not included in losses above):

On securities..................................................... .07 (3) .0 1 (3) .0 1 .04 . 1 0 .06 .07 . 1 0 On loans........................................................... 1.28 .27 .46 .82 1.09 1.46 1.50 1.56 1.24 1.31

Special ratios2

Income on loans per $ 1 0 0 of loans.................... 5.55 6.59 6.33 6.26 6.24 6 . 1 0 5.86 5.73 5.52 5.18 Income on U. S. Government obligations per 

$100 of U. S. Government obligations. . . . 3.45 3.25 3.22 3.28 3.32 3.38 3.40 3.42 3.52 3.56 Income on other securities per $ 1 0 0 of other 

securities....................................................... 2.65 2.83 2.95 2.73 2.64 2.60 2.61 2.69 2 . 6 8 2.63 Service charges per $ 1 0 0 of demand deposits. . .44 .32 .39 .48 .62 .72 .64 . 55 .42 .32 Interest paid per $100 of time and savings 

deposits......................................................... 3.09 2.91 2.90 2.91 2.94 2.97 3.02 3.08 3.09 3.21

Occupancy expense o f bank premises per $ 1 0 0 o f current operating revenue 

Occupancy expense o f bank premises, 

net—tota l................................................... 4.49 4.25 3.79 4.00 4.30 4.68 4.73 4.64 4.41 4.52 Rental and other income................................... 1.13 .25 .34 .42 .45 .65 1.29 1.38 2.07 .97 Occupancy expense o f bank premises, 

gross— tota l................................................ 5.62 4.50 4.13 4.42 4.75 5.33 6 . 0 2 6 . 0 2 6.48 5.49 Salaries and wages— building department 

officers and employees................................. .65 .18 .31 .46 .53 .61 .78 .81 .89 .56 Building department personnel benefits, , , .08 (3) . 0 1 . 0 2 .03 .05 .07 .09 . 1 1 .09 Recurring depreciation................................... .98 .52 . 6 8 .91 1.05 1.09 1 . 1 2 1.06 1.04 . 8 8 Maintenance and repairs................................ .63 .71 .63 .58 .56 .69 .73 .75 .67 .58 Insurance and utilities.................................... .97 1.91 1.44 1 . 2 1 1.08 1 . 0 2 1 . 0 0 .89 1 . 0 1 . 8 8 Rents paid........................................................ 1.49 .27 .37 .50 .70 1 . 0 1 1.36 1.49 1.79 1.81 Taxes................................................................. .82 .91 .69 .74 .80 . 8 6 .96 .93 .97 .69

Number of banks, December 31........................ 12,984 726 2,127 4,310 2,741 1,898 575 283 257 67

1 This group of banks is the same as the group shown in Table 116 under the heading “ Operating throughout the year.” These ratios differ slightly from the ratios for all insured •-* 

commercial banks shown in Tables 115 and 117. G*

For asset and liability data see Table 111, p. 145. ^

* Less than .005.

Back figures, 1941-1962: See the Annual Report for 1962, pp. 152-153, and earlier reports.

INCOME OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 120. In co m e o f I n s u r e d C o m m e rcia l B a n k s in t h e U n ite d S t a t e s (S t a t e s a n d O t h e r A r e a s ), B y S ta te , 1963

(Amounts in thousands of dollars)

Income item

Total

United

States

Other areas

Puerto

Rico

Virgin

Islands

50 States 

and 

D. C.

Alabama Alaska Arizona Arkansas California Colorado Connecticut

Current operating revenue— total.............

Interest on U. S. Government obligations. . 

Interest and dividends on other securities. .

Interest and discount on loans.....................

Service charges and fees on loans................

Service charges on deposit accounts............

Other charges, commissions, fees, etc..........

Trust department...........................................

Other current operating revenue..................

Current operating expenses— total............

Salaries—officers............................................

Salaries and wages— other employees..........

Officer and employee benefits... . ................

Fees paid to directors and committees........

Interest on time and savings deposits.........

Interest on borrowed money........................

Occupancy expense of bank premises—net.

Furniture and equipment.............................

Other current operating expenses................

Net current operating earnings.................

Recoveries, transfers from valuation reserves, and profits—to ta l......................

On securities:

Profits on securities sold or redeemed....

Recoveries...................................................

Transfers from valuation reserves............

On loans;

Recoveries...................................................

Transfers from valuation reserves............

All other..........................................................

Losses, charge-offs, and transfers to 

valuation reserves—to ta l......................

On securities:

Losses on securities sold............................

Charge-offs prior to sale............................

Transfers to valuation reserves................

On loans:

Losses and charge-offs...............................

Transfers to valuation reserves................

All other..........................................................

Net incom e before related taxes................

13,509,713

2,176,454

921,060

8,516,837

155,478

728,857

248,362

573,252

189,413

9,714,980

1,183,264

2 , 101,111

457,033

67,469

3,464,308

106.517 

608,462

311.518 

1,415,298

3,794,733

468,450

167,445

4,046

60,516

17,913

131,235

87,295

883,637

49,887

12,827

63,530

29,588

609,059

118,746

35,027

2,992

1,235

24,265

2,416

1,209

2,325

28

557

29,278

3,518

7,314

1,252

174

9,342

64

1,566

944

5,104

5,749

2,352

780

300

444

158

670

2,513

287

664

989

573

1,294

207

41

833

82

24

80

27

13,473,392

2,173,255

919,784

8,491,739

152,980

727,624

245,957

573,224

188,829

1,008

84

246

44

4

438

3

41

28

120

9,684,694

1,179,662

2,093,551

455,737

67,291

3,454,528

106,450

606,855

310,546

1,410,074

286 3,788,698

466,093

166,665

4,044

60,216

17,469

131,077

86,622

56

41

49,600

12,827

63,530

28,924

608,014

118,132

3,379,546 5,588 194 3,373,764

128,344

21,267

9,680

80,449

888

8,870

3,370

2,713

1,107

16,013

2,616

479

9,755

1,050

1,409

532

58

114

101,510

8,469

3,989

73,778

2,392

8,183

2,034

2,157

508

76,054 

12,281 

7,178 

47,908 

209 

4,529 

2,572 

720 

657

1,652,597

194,278 

87,952 

1,109,180 

40,523 

115,288 

26,154 

51,740 

27,482

133,258

19,624

5,130

85,687

1,819

11,733

3,037

5,010

1,218

89,251

13,759

18,494

3,531

814

30,146

56

4,078

3,060

15,313

12,498

2,015

3,222

387

39

3,253

3

915

563

2,101

79,378

9,385

17,735

3,504

156

26,959

145

6,180

3,915

11,399

54,786

9,859

9,785

2,159

951

16,533

72

3,589

1,850

9,988

1,246,499

123,451

275,785

52,290

1,382

532,804

20,841

73,542

41,922

124,482

99,824

13,940

21,051

3,657

1,024

33,492

480

6,702

3,751

15,727

39,093 3,515 22,132 21,268 406,098 33,434

3,236

1,391

66

79

316

522

862

226

130

1,517

441

389'

1

18

77 687

1,935

1,061

23

179

423

67

232

32,659

13,369

188

1,619

995

3,380

13,108

9,077

1,092

277

414

253

162

6,879

8,056

547

97

176

646

5,313

1,277

1,378

173

5,793

689

81

16

1,039

150

4,434

589

159

138

210

537

2,524

98,170

3,397

593

3,878

1,083

69,058

20,161

273

179

47

611

5,127

1,238

159,149

18,222 

10,736 

99,701 

1,427 

10,892 

2,340 

14,379 

1,452

113,703

16,071

30,389

7,114

766

27,843

622

7,889

4,613

18,396

45,446

1,494

19

327

35

282

2,218

10,224

474

27

678

69

5,617

3,359

34,273 2,363 17,856 18,796 35,036 39,597

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— total..........................

Federal..............................................................

State..................................................................

Net income after related taxes.....................

Dividends and interest on capital—total. .

Cash dividends declared on common stock. . 

Dividends declared on preferred stock and 

interest on capital notes and debentures...

Net additions to capital from income........

1,226,783

1,130,629 

96,154

708

604

104

65

65

1,226,010

1,129,960

96,050

11,905

10,535

1,370

1 , 0 1 0

1,005

5

7,579

7,152

427

5.550

5.550

147,778

116,592

31,186

12,066

10,417

1,649

15,068

12,042

3,026

2,152,763 4,880 129 2,147,754 22,368 1,353 10,277 13,246 192,809 22,970 24,529

993,374

990,039

3,335

1.687

1.687

991,687

988,352

3,335

8.523

8.523

458

458

5.680

5.680

4.466

4.466

114,196

113,532

664

7.751

7.751

12.627

12.627

1,159,389 3,193 129 1,156,067 13,845 895 4,597 8,780 78,613 15,219 11,902

Number of banking employees (exclusive of 

building employees), December 31:

Active officers...................................................

Other employees...............................................

117,147

531,820

436

2,104

1 0

65

116,701

529,651

1,487

5,573

141

659

907

4,556

1,247

3,032

12,438

61,742

1,378

5,491

1,370 

7,568

M emoranda

Recoveries credited to valuation reserves (not 

included in recoveries above):

On securities..................................................... 6,216

96,897

17,314

323,475

6,216

96,777

17,314

323,015

30

1,237

23

3,683

5

322

5

489

16

1,180

548

10,651

149

44,452

5

1,445

1

4,641

1 0

984

2 0 

4,185

On loans............................................................

Losses charged to valuation reserves (not 

included in losses above):

On securities.....................................................

1 1 2 8 825

1 2 On loans............................................................ 436 24 790 3,752

Occupancy expense of bank

premises

Occupancy expense of bank premises,

net—total....................................................

Rental and other income....................................

Occupancy expense of bank premises,

gross— total................................................

Salaries—building department officers..........

Salaries and wages—building department

employees......................................................

Building department personnel benefits........

Recurring depreciation....................................

Maintenance and repairs................................

Insurance and utilities.....................................

Rents paid.........................................................

Taxes.................................................................

608,462

152,446

760,908

1,953

86,587

10,578

132,128

85,615

131,465

202,424

110,158

1,566

363

1,929

5

142

24

206

242

322

558

430

41

1 1

52

6

9

4

31

2

606,855

152,072

758,927

1,948

86,445

10,554

131,916

85,364

131,139

201,835

109,726

4,078

1,089

5,167

16

717

70

971

693

1 , 0 0 1

1,458

241

915

1 1 1

1,026

32

2

155

157

304

299

77

6,180

1,239

7,419

34

432

75

1,261

437

1,542

3,096

542

3,589

594

4,183

9

514

47

1,144

438

838

616

577

73,542

8,795

82,337

205

3,382

526

10,775

12,654

12,369

31,886

10,540

6,702

2,984

9,686

19

1,044

152

1,167

913

1,253

4,070

1,068

7,889

1,670

9,559

8

1,242

144

1,743

948

1,867

2,093

1,514

Number of building employees, December 31:

Officers..............................................................

Other employees...............................................

304

31,194

1

6 8

303

31,126

3

368 1 2

3

113

4

279

17

8 6 6

6

346

1

343

Number of banks, December 31........................ 13,291 7 1 13,283 242 9 1 2 238 149 194 58

Note: For average asset and liability data by State see Table 112, pp. 146-147.

Back figures, 1946—1962: See the Annual Report for 1962, pp. 154—163, and earlier reports.

05Oi INCOME OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 120. In com e o f I n s u r e d C o m m e r cia l B a n k s in t h e U n ite d S t a t e s (S t a t e s a n d O t h e r A r e a s ), B y S t a t e , 1963— Continued

(Amounts in thousands of dollars)

Income item Delaware District of 

Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky

Current operating revenue— total...........

Interest on U. S. Government obligations. 

Interest and dividends on other securities.

Interest and discount on loans...................

Service charges and fees on loans..............

Service charges on deposit accounts..........

Other charges, commissions, fees, etc........

Trust department.........................................

Other current operating revenue................

Current operating expenses— total............

Salaries— officers............................................

Salaries and wages—other employees..........

Officer and employee benefits.......................

Fees paid to directors and committees........

Interest on time and savings deposits.........

Interest on borrowed money........................

Occupancy expense of bank premises—net.

Furniture and equipment.............................

Other current operating expenses................

Net current operating earnings.

Recoveries, transfers from valuation reserves, and profits—total..........................

On securities:

Profits on securities sold or redeemed.........

Recoveries.......................................................

Transfers from valuation reserves...............

On loans:

Recoveries.......................................................

Transfers from valuation reserves...............

All other..............................................................

Losses, charge-offs, and transfers to valuation reserves— total....................................

On securities:

Losses on securities sold................................

Charge-offs prior to sale................................

Transfers to valuation reserves....................

On loans:

Loses and charge-offs.....................................

Transfers to valuation reserves....................

All other..............................................................

Net income before related taxes .

43,280

8,263

2,066

23,069.

673

1,187

316

7,016

690

25,357

3,991

7,167

1,416

253

5,111

75

1,708

1,473

4,163

17,923

716

297

3

23

24 

190 

179

1,778

1

257

163

743

614

16,861

89,076

18,634

2,503

54,110

1,139

5,732

1,149

5,222

587

295,582

64,744

18,441

163,412

4,953

25,667

5,951

9,104

3,310

196,734

27,050

9,558

125,140

3,713

15,533

7,168

6,742

1,830

49,412

6,765

2,134

34,331

1,433

2,368

1,960

421

42,468

6,032

2,174

27,677

751

4,191

1,141

230

272

952,250

200,721

80,769

555,277

7,720

34,785

12,307

52,037

8,634

259,012

60,098

12,691

157,200

1,671

12,817

4,670

7,128

2,737

175,671

33,781

11,090

112,315

528

10,211

3,761

2,420

1,565

136,575

29,423

11,406

80,956

590

9,425

2,153

1,233

1,389

59,459

7,378

14,603

2,146

501

18,166

108

4,386

1,976

10,195

224,192

30,099

50,976

9,064

2,234

67,886

1,089

13,815

10,384

38,645

142,892

21,766 

33,205 

6,814 

1,599 

34,337 

1,439 

10,330 

5,825 

27,577

36,857

3,828

8,212

2,504

208

13,459

101

2,124

1,540

4,881

29,253

4.516 

6,227 

1,340

181

9,883

126

1.516 

838

4,626

692,460

77,221

131,319

32.990 

4,702

291,038

9,271

34,918

17.990 

93,011

183,960

28,430

40,465

8,315

2,164

50,372

797

11,917

6,113

35,387

127,707

27,184

21,611

4,591

1,190

40,497

545

7,120

3,829

21,140

94,256

20,536

16,460

3,304

1,343

27,571

281

5,672

2,834

16,255

29,617 71,390 53,842 12,555 13,215 259,790 75,052 47,964 42,319

1,506

570

2

4,995

2,777

60

142

284

550

1,182

5,148

2,838

59

311

294

183

1,463

825

770

22

3

4 

26

701

248

1

70

62

320

33,601

17,873

378

9,680

697

1,871

3,102

9,798

3,235

31

1,705

259

970

3,598

3,988

2,060

38

62

591

577

660

3,222

1,274

85

195

992

140

536

3,875

7

3

29

140

3,093

603

20,156

504

58

460

1,146 

16,109 

1,879

11,845

317

64

424

450

7,548

3,042

1,130

51

2

948

129

1,784

14

4

89

116

1,116

445

68,919

4,851

779

10,568

1,230

42,512

8,979

19,222

1,983

237

2,002

790

9,724

4,486

9,517

432

246

43

5,455

2,533

7,959

164

434

197

1,788

3,766

1,610

27,248 56,229 47,145 12,250 12,132 224,472 65,628 42,435 37,582

126,096

27,642

7,275

76,965

1,165

5,195

1,330

5,167

1,357

84,740

15,115

17,236

3,488

1,300

22,481

338

5,745

2,811

16,226

41,356

2,849

1,447

26

178

374

311

513

6,640

154

313

315

652

3,407

1,799

37,565

166 FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— total..............................

Federal..................................................................

State......................................................................

8,168

7,802

366

12.425

12.425

19.609

19.609

17.584

17.584

5,310

5,034

276

5,307

4,477

830

74.098

74.098

24.610

24.610

13.914

13.914

11.650

11.650

14.660

14.660

Net income after related taxes.........................

Dividends and interest on capital—total.. . .

Cash dividends declared on common stock. . . . 

Dividends declared on preferred stock and interest on capital notes and debentures.........

8,693 14,823 36,620 29,561 6,940 6,825 150,374 41,018 28,521 25,932 22,905

5.619

5.619

7.008

7.008

14,722

14,687

35

12.999

12.999

3.530

3.530

3.118

3.118

56,519

56,487

32

14,173

14,166

7

10,305

10,290

15

8,576

8,559

17

8,782

8,780

2

Net additions to capital from income...........

Number of banking employees (exclusive of 

building employees), December 31:

Active officers.......................................................

Other employees..................................................

3,074 7,815 21,898 16,562 3,410 3,707 93,855 26,845 18,216 17,356 14,123

371

1,948

570

3,507

3,173

14,877

2,339

9,114

289

2,149

444

1,844

6,830

31,568

2,942

11,233

2,991

6,534

2,461

5,010

1,954 

5,199

Memoranda

Recoveries credited to valuation reserves (not 

included in recoveries above):

On securities.........................................................

On loans................................................................

Losses charged to valuation reserves (not included in losses above):

On securities.........................................................

On loans................................................................

50

94

203

377

305

1,239

46

2,767

98

9,566

44 

1,362

32

4,631

41

255

42 

691

1 0 0

437

1,459

8,791

2,188 

22,768

1 1

2,335

244

6,490

6 6 

1,149

16

2,765

3

1,332

139

2,311

46 

1,154

208

1,964

Occupancy expense of bank

premises

Occupancy expense of bank premises, net—

total..................................................................

Rental and other income........................................

Occupancy expense of bank premises,

gross— total....................................................

Salaries—building department officers..............

Salaries and wages—building department

employees.........................................................

Building department personnel benefits...........

Recurring depreciation........................................

Maintenance and repairs....................................

Insurance and utilities........................................

Rents paid............................................................

Taxes.....................................................................

1,708

213

1,921

184

23

323

164

303

789

135

4,386

783

5,169

16

1,033

91

745

597

590

1,533

564

13,815

4.755

18,570

6 6

1,848

191

3,602

2,109

3.756 

3,590 

3,408

10,330

2,775

13,105

30

1,187

125

2,308

1,899

2,132

2 , 6 8 8

2,736

2,124

732

2,856

28

158

42

422

2 0 1

704

1 , 1 1 2

189

1,516

317

1,833

214

1 2

472

159

310

372

294

34,918

9,304

44,222

98

7,369

725

6,744

5,437

6,690

10,889

6,270

11,917

3,521

15,438

28

2,554

171

2,824

2,246

2,819

2,861

1,935

7,120

1 , 2 2 1

8,341

14

1 , 1 2 2

87

1,442

934

1,761

1,823

1,158

5,672

1,347

7,019

2 1

871

58

1,474

987

1,318

1,068

1 , 2 2 2

5,745

1 , 2 1 2

6,957

9

987

81

1,218

928

1,397

1,149

1,188

Number of building employees, December 31:

Officers..................................................................

Other employees..................................................

3

73

2

313

1 0

597

4

484

3

91 84

13

2,051

4

1,062

8

713

9

501

8

535

Number of .banks, December 31............................ 2 0 14 382 370 7 27 1,003 432 657 591 341

Note: For average asset and liability data by State see Table 112, pp. 146-147.

Back figures, 1946-1962: See the Annual Report for 1962, pp. 154-163, and earlier reports.

INCOME OF INSURED BANKS 167

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 120. In com e o f I n s u r e d C o m m e r cia l B a n k s in t h e U n ite d S t a t e s (S t a t e s a n d O t h e r A r e a s ), B y S ta te , 1963— Continued

(Amounts in thousands of dollars)

Income item Louisiana Maine Maryland

Massachusetts Michigan

Minnesota

Mississippi Missouri Montana Nebraska Nevadti

Current operating revenue— total................... 154,820 41,074 140,866 325,256 544,992 256,032 80,874 315,151 50,498 96,583 34,609

Interest on U. S. Government obligations........ 32,300 5,896 25,824 41,825 107,328 47,244 13,020 62,293 9,313 16,906 4,812

Interest and dividends on other securities........ 10,562 1,625 8,445 13,391 42,952 15,272 8,745 20,925 3,075 4,748 1,787

Interest and discount on loans........................... 92,376 28,170 86,024 206,363 335,693 153,228 47,915 199,172 31,139 64,023 22,825

Service charges and fees on loans...................... 798 330 2,355 3,501 4,792 1,651 179 1,560 904 244 1,234

Service charges on deposit accounts.................. 9,981 2,713 10,480 21,960 25,463 15,903 5,500 13,948 3,877 5,813 2 , 2 0 2

Other charges, commissions, fees, etc................ 5,364 529 2,939 10,534 8,742 12,878 3,900 4,372 1,361 2,044 496

Trust department................................................ 1,412 1,490 3,323 21,487 16,209 7,817 695 9,437 376 2,030 1,019

Other current operating revenue........................ 2,027 321 1,476 6,195 3,813 2,039 920 3,444 453 775 234

Current operating expenses—total................. 112,257 31,015 101,792 2 1 1 , 2 2 0 424,811 190,719 58,347 217,710 36,932 65,847 22,620

Salaries—officers.................................................. 15,981 3,863 10,835 28,912 36,367 31,007 10,238 31,328 6,361 15,744 3,057

Salaries and wages—other employees............... 23,817 6,897 25,134 64,700 83,327 35,041 10,972 45,477 6,567 12,618 5,871

Officer and employee benefits............................. 4,245 1,075 4,402 13,198 17,384 8,435 2,595 8,706 1,816 3,313 1,015

Fees paid to directors and committees.............. 1,575 337 917 1,464 2,156 1,943 862 2,378 300 1,054 63

Interest on time and savings deposits............... 29,498 10,232 31,385 36,620 193,155 68,635 17,251 72,996 11,347 14,248 6,736

Interest 011 borrowed money.............................. 545 40 447 1,681 1,680 792 253 2,256 1 0 2 568 94

Occupancy expense of bank premises—net. . . . 9,107 2,291 6,930 17,523 23,254 10,669 2,664 12,208 1 , 8 6 8 3,763 1,737

Furniture and equipment................................... 3,877 1,105 3,541 9,322 11,576 5,735 2,028 6,013 1,184 2,386 804

Other current operating expenses...................... 23,612 5,175 18,201 37,800 55,912 28,462 11,484 36,348 7,387 12,153 3,243

Net current operating earnings....................... 42,563 10,059 39,074 114,036 120,181 65,313 22,527 97,441 13,566 30,736 11,989

Recoveries, transfers from valuation reserves, and profits—total........................... 4,211 1,018 2,189 11,454 13,407 4,086 4,365 11,395 2,233 2,586 500

On securities:

Profits 011 securities sold or redeemed........... 1,464 427 1,510 3,854 6,156 1,715 1,612 5,200 426 1,033 251

Recoveries......................................................... 13 18 58 115 48 144 315 126

1,638

173 6

Transfers from valuation reserves.................. 776 269 99 607 747 276 1,092 758 667 148

On loans:

Recoveries......................................................... 363 99 49 129 167 831 325 1,359 544 247 2

Transfers from valuation reserves.................. 779 28 8 8 4,174 2,672 157 678 1,757 1 2 2 168 9

All other................................................................ 816 177 385 2,575 3,617 963 343 1,315 2 1 0 465 90

Losses, charge-offs, and transfers to valuation reserves—total...................................... 11,824 2,671 7,014 26,031 32,833 9,587 7,002 15,963 3,759 5,524 2,226

On securities:

Losses on securities sold.................................. 105 170 214 992 5,638 160 153 704 42 334 146

Charge-offs prior to sale................................. 224 44 47 1 0 1 83 317 790

1,172

495

1,684

135

541

65

1,067 51 290 2,564 2,777 143 171 434

On loans:

Losses and charge-offs..................................... 393 91 192 238 611 1,028 519 994 904 383 33

Transfers to valuation reserves...................... 7,736 1,897 4,894 15,817 18,566 6,062 3,431 9,138 1,826 3,278 1,633

All other............................................................... 2,299 418 1,377 6,319 5,158 1,877 937 2,948 311 1,030 243

Net income before related taxes...................... 34,950 8,406 34,249 99,459 100,755 59,812 19,890 92,873 12,040 27,798 10,263

DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— total..............................

Federal..................................................................

State......................................................................

12.485

12.485

3.123

3.123

13.479

13.479

45,809

38,570

7,239

25.678

25.678

25,324

20,339

4,985

5.150

5.150

38,063

36,088

1,975

4,512

4,230

282

10.759

10.759

4.516

4.516

Net income after related taxes.........................

Dividends and interest on capital-—total.. . .

Cash dividends declared on common stock. . . . 

Dividends declared on preferred stock and 

interest on capital notes and debentures. . . .

Net additions to capital from income............

22,465 5,283 20,770 53,650 75,077 34,488 14,740 54,810 7,528 17,039 5,747

9.197

9.197

2,702

2,697

5

10,286

10,285

1

31,065

31,056

9

31,702

31,467

235

14,992

14,940

52

5,268

5,264

4

21,946

21,937

9

3.317

3.317

6.411

6.411

2.922

2.922

13,268 2,581 10,484 22,585 43,375 19,496 9,472 32,864 4,211 10,628 2,825

Number of banking employees (exclusive of 

building employees), December 31:

Active officers.......................................................

Other employees...................................................

1,587

6,507

456

2,163

1,189

7,234

2,586

16,623

3,251

21,446

3,437

9,711

1,175

3,276

3,591

13,052

671

1,861

1,782

3,806

336 

1 .523

M em or and a

Recoveries credited to valuation reserves (not 

included in recoveries above):

On securities.........................................................

On loans................................................................

Losses charged to valuation reserves (not included in losses above):

On securities.........................................................

On loans................................................................

4

1,052

205

5,000

16

419

79

1,431

920

168

1,515

6

1,883

739

10,778

3

4.658

5,001

9.659

3

1,511 

4,515

33

809

77

1,794

105

1,401

593

5,937

28

340

700

1

9-33

1 2

1,711

194 

631

Occupancy expense of bank

premises

Occupancy expense of bank premises, net

—total..............................................................

Rental and other income........................................

Occupancy expense of bank premises, gross

—total..............................................................

Salaries—building department officers..............

Salaries and wages—building department

employees..........................................................

Building department personnel benefits...........

Recurring depreciation.......................................

Maintenance and repairs....................................

Insurance and utilities........................................

Rents paid............................................................

Taxes.....................................................................

9,107

2,476

11,583

54

1,722

131

1,931

1,058

1,631

2 , 2 0 2

2,854

2,291

383

2,674

3

442

31

476

250

450

655

367

6,930

1,214

8,144

1 0

792

70

1,548

1 , 0 2 2

1,560

2,342

800

17,523

2,930

20,453

105

2,373

365

3,506

2,436

4,024

3,388

4,256

23,254

3,073

26,327

73

3,759

463

4,875

2,994

5,084

5,305

3,774

10,669

4,157

14,826

2 0

1,316

113

2,259

1,393

3,201

4,439

2,085

2,664

1,523

4,187

412

24

460

433

800

1 , 0 2 2

1,036

12,208

2 , 0 2 1

14,229

18

2 , 1 2 0

269

2,922

1,705

2,669

3,218

1,308

1 , 8 6 8

685

2,553

360

40

465

257

432

422

577

3,763

1,128

4,891

19

659

76

914

555

839

1,156

673

1,737

139

1,876

213

2 0

330

239

335

302

437

Number of building employees, December 31: 

Officers ................................................................. 6

651

2

284

2 1

755

6

1,281

6

638

15

882

9

i.69 64 385Other employees................................................... 228 

Number of banks, December 31............................ 198 40 117 157 365 699 192 624 124 418 7

Note: For average asset and liability data by State see Table 112, pp. 146-147.

Back figures, 1946-1962: See the Annual Report for 1962, pp. 154-163, and earlier reports.

INCOME OF INSURED BANKS 169

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
k—*

(Amounts in thousands of dollars) ^

Table 120. In com e o f I n s u r e d C o m m e r cia l B a n k s in t h e U n ite d S t a t e s (S t a t e s a n d O t h e r A r e a s ), By S ta te , 1963— Continued

Income item

New < 

Hampshire

New

Jersey

New

Mexico

New

York

North

Carolina

North

Dakota Ohio Oklahoma Oregon

Pennsylvania

Rhode

Island

Current operating revenue— total................... 27,118 426,598 45,277 2,474,130 184,109 41,077 619,540 153,021 126,609 844,662 54,875

Interest on U. S. Government obligations........ 3,500 69,452 7,757 321,043 23,407 8,856 118,472 29,452 16,764 132,504 5,651

Interest and dividends on other securities........ 1,209 41,202 1,615 197,464 11,646 3,160 43,731 8,679 6,952 75,493 3,914

Interest and discount on loans........................... 18,708 263,235 29,505 1,562,455 116,806 23,231 383,528 97,409 82,678 524,747 36,232

Service charges and fees on loans...................... 310 3,669 487 21,826 3,877 295 4,377 1,003 1,702 6,363 497

Service charges on deposit accounts.................. 2,183 26,058 3,645 81,502 12,197 2,246 31,386 10,876 11,772 31,417 2,787

Other charges, commissions, fees, etc................ 447 4,569 1,225 37,869 8,005 2,700 7,838 2,180 1,898 10,081 807

Trust department................................................ 511 13,847 616 185,042 6,257 285 24,419 2,038 3,298 53,514 4,393

Other current operating revenue....................... 250 4,566 427 66,929 1,914 304 5,789 1,384 1,545 10,543 594

Current operating expenses— total.................. 19,951 331,630 34,487 1,686,899 130,783 29,696 445,480 103,690 97,090 604,559 37,832

Salaries—officers.................................................. 2,865 34,299 5,382 148,573 21,399 5,654 45,826 20,359 13,304 65,792 3,647

Salaries and wages—other employees.............. 3,763 72,759 7,453 411,872 30,957 4,407 92,057 19,842 20,691 125,833 8,153

Officer and employee benefits............................. 775 14,265 1,204 108,861 6,131 1,304 17,483 4,557 3,771 29,099 2,198

Fees paid to directors and committees.............. 302 2,913 325 5,036 859 317 3,046 1,226 271 5,647 2 1 1

Interest on time and savings deposits............... 6,725 124,901 9,543 597,144 33,833 11,174 174,959 30,077 37,717 224,129 15,170

Interest on borrowed money.............................. 64 1,045 26 41,581 1 , 6 6 6 31 3,184 869 465 4,174 249

Occupancy expense of bank premises—net. . . . 1,191 21,373 2,472 130,956 9,135 1,483 21,435 5,632 5,565 36,699 2,119

Furniture and equipment................................... 767 11,053 1,485 42,959 4,524 8 8 8 12,277 3,576 3,421 21,235 1,231

Other current operating expenses...................... 3,499 49,022 6,597 199,917 22,279 4,438 75,213 17,552 11,885 91,951 4,854

Net current operating earnings....................... 7,167 94,968 10,790 787,231 53,326 11,381 174,060 49,331 29,519 240,103 17,043

Recoveries, transfers from valuation reserves, and profits—total........................... 1,421 9,995 931 171,836 5,064 755 13,986 3,507 2,271 30,884 2,113

On securities:

Profits on securities sold or redeemed........... 242 5,992 548 33,359 2,936 445 6,038 1,636 1,601 13,805 1,591

Recoveries......................................................... 528 1 1 34 2 1 70 6 67 17 433

Transfers from valuation reserves.................. 439 1,282 30 23,092 27 9 1,631 584 7,105 40

On loans:

Recoveries......................................................... 54 352 115 786 136 85 439 872 27 582 16

Transfers from valuation reserves.................. 6 366 40 95,845 453 82 2,798 170 60 2,762 442

152 1,992 164 18,733 1,442 128 3,013 228 583 6,197 24

Losses, charge-offs, and transfers to valuation reserves—total...................................... 1,889 25,334 4,333 214,712 10,111 1,861 31,082 10,024 8,518 51,321 4,358

On securities:

Losses on securities sold.................................. 177 2,253 94 10,033 1,144 2 1 1,314 128 2 , 6 8 6 4,164 61

Charge-offs prior to sale.................................. 565 84 47 3,126 63 47 621 58 8 783

Transfers to valuation reserves...................... 44 2,887 2 0 13,062 1,255 4,826 304 976 4,779 1,343

On loans:

Losses and charge-offs..................................... 49 531 150 615 297 8 8 1,142 2,005 65 1,300 41

Transfers to valuation reserves...................... 784 16,768 3,599 181,265 5,257 1,392 18,995 6,670 4,012 33,919 1,941

All other................................................................ 270 2,811 423 6,611 2,095 313 4,184 859 771 6,376 972

Net income before related taxes...................... 6,699 79,629 7,388 744,355 48,279 10,275 156,964 42,814 23,272 219,666 14,798

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net income— total..............................

Federal..............................................................

State..............................................................

2.480

2.480

20.917

20.917

3.214

3.214

244,745

212,305

32,440

20,030

18,383

1,647

3,535

3,280

255

58.753

58.753

16,062

14,863

1,199

8,806

6,806

2 , 0 0 0

69.156

69.156

6,713

5,723

990

Net income after related taxes.........................

Dividends and interest on capital—total. . . .

Cash dividends declared on common stock. . . . 

Dividends declared on preferred stock and interest on capital notes and debentures.........

4,219 58,712 4,174 499,610 28,249 6,740 98,211 26,752 14,466 150,510 8,085

1.430

1.430

26,809

26,430

379

2,682

2,682

243,622

242,060

1,562

11,216

11,215

1

2.691

2.691

40,433

40,424

9

11.356

11.356

8.336

8.336

76.843

76.843

4.797

4.797

Net additions to capital from income........... 2,789 31,903 1,492 255,988 17,033 4,049 57,778 15,396 6,130 73,667 3,288

Number of banking employees (exclusive of 

building employees), December 31:

Active officers...................................................

Other employees.........................................

344

1,139

3,130

18,864

556

2,104

10,764

88,287

2,283

9,263

691

1,467

4,258 

23,193

2,267

5,899

1,472

5,211

6,542 

32,352

341

2,205

Memoranda

Recoveries credited to valuation reserves (not 

included in recoveries above):

On securities..................................................... 2

194

1

597

262

2,118

571

6,765

3

786

26

2,085

841

15,850

1,434

78,313

81

603

883

2 , 0 1 2

115

4,397

1,560

10,083

2,082

5,091

1,841

15,757

On loans................................................

Losses charged to valuation reserves (not included in losses above):

On securities...............................................

193 1 , 0 0 2

1

5,492

623 233

On loans............................................................ 334 2,147 711

Occupancy expense of bank

premises

Occupancy expense of bank premises, net—

total..........................................................

Rental and other income................................

Occupancy expense of bank premises,

gross—total....................................................

Salaries—building department officers..............

Salaries and wages—building department employees ..............................................................

Building department personnel benefits...........

Recurring depreciation.......................................

Maintenance and repairs....................................

Insurance and utilities........................................

Rents paid............................................................

Taxes.........................................................

1,191

155

1,346

157

17

234

145

2 2 0

306

267

21,373

3,134

24,507

34

2,659

383

4,532

3,741

3,935

4,365

4,858

2,472

486

2,958

385

29

503

282

419

807

533

130,956

25,03*5

155,991

273

13,182

2,429

25,564

12,139

26,322

55,669

20,413

9,135

1,782

10,917

45

1,208

131

2,617

1,239

2,059

2,795

823

1,483

437

1,920

1

216

19

480

164

435

312

293

21,435

12,608

34,043

152

6,004

705

5,595

3,814

6,151

8,195

3,427

5,632

3,806

9,438

31

1,477

179

1,831

1,162

1,577

2,523

658

5,565

533

6,098

57

752

84

1,437

1,238

819

864

847

36,699

7.104

43,803

134

7,747

1,035

7,992

4,617

7.104 

10,180

4,994

2,119

1,535

3,654

49

841

136

563

250

474

710

631

Number of building employees, December 31: 

Officers................................................... 3

895

24

3,181

4

625

2

156

2 0

2,132

7

671

4

215

23

2,802

5

285 Other employees............................................... 107 124

Number of banks, December 31.................... 73 232 61 336 155 155 551 400 49 611 8

Note: For average asset and liability data by State see Table 112, pp. 146-147.

Back figures, 1946—1962: See the Annual Report for 1962, pp. 154—163, and earlier reports.

INCOME OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 120. In com e o f I n s u r e d C o m m e r cia l B a n k s in t h e U n ite d S t a t e s (S t a t e s an d O t h e r A r e a s ), B y S ta te , 1963— Continued

(Amounts in thousands of dollars) *

Income item

South

Carolina

South

Dakota Tennessee Texas Utah Vermont Virginia

Washington

West

Virginia Wisconsin Wyoming

Current operating revenue—-total................... 63,946 48,779 192,277 674,296 64,749 26,279 213,421 175,595 73,479 244,965 24,754 Interest on U. S. Government obligations........ 10,793 1 0 , 2 2 1 31,423 111,853 7,010 3,426 31,627 24,877 18,374 55,581 4,541 Interest and dividends on other securities........ 4,437 2,354 12,589 42,330 3,107 1,421 13,505 9,470 3,631 14,093 1,004 Interest and discount on loans........................... 38,908 29,748 130,684 445,561 43,851 18,802 140,453 110,679 44,696 149,787 16,198 Service charges and fees on loans...................... 247 282 1,509 6,472 1,909 229 2,525 2,690 648 1,494 377 Service charges on deposit accounts.................. 5,035 2,831 7,873 36,810 5,376 1,499 13,282 16,611 2,675 12,081 1,627 Other charges, commissions, fees, etc................ 2,867 2,579 3,455 9,824 1,699 214 3,990 3,956 1,049 2,952 649 Trust department................................................ 1,152 358 3,594 14,143 1,402 470 6,319 5,283 1,710 6,016 186 Other current operating revenue....................... 507 406 1,150 7,303 395 218 1,720 2,029 696 2,961 172

Current operating expenses— total................. 41,999 34,682 138,236 476,367 46,241 21,157 154,754 129,260 49,108 182,595 17,856 Salaries—officers.................................................. 8,401 7,359 17,516 73,230 5,558 2,348 20,450 17,136 7,472 27,818 3,037 Salaries and wages—other employees............... 11,408 5,502 25,629 88,751 8,700 3,353 31,554 32,746 9,639 30,793 3.326 Officer and employee benefits............................. 2,251 1,582 5,095 17,541 1,658 672 6,116 5,650 2,018 8,050 658 Fees paid to directors and committees............. 534 507 1,045 5,092 313 312 1,687 411 780 2,360 241 Interest on time and savings deposits............... 6,350 11,849 54,854 148,630 19,045 10,249 55,291 41,964 16,238 74,283 6,469 Interest on borrowed money.............................. 43 41 381 5,884 407 23 763 233 76 335 63 Occupancy expense of bank premises—net. . . . 2,771 1,669 7,570 29,384 2,442 1,187 8,594 8,226 2,748 9,293 751 Furniture and equipment................................... 1,798 1,078 5,135 15,839 1,751 570 5,275 5,537 1,705 4,863 721 Other current operating expenses...................... 8,443 5,095 2 1 , 0 1 1 92,016 6,367 2,443 25,024 17,357 8,432 24,800 2.590

Net current operating earnings....................... 21,947 14,097 54,041 197,929 18,508 5,122 58,667 46,335 24,371 62,370 6,898

Recoveries, transfers from valuation reserves, and profits— total........................... 1,056 778 7,204 17,625 860 713 4,168 3,098 1,726 7,667 567 On securities:

Profits on securities sold or redeemed........... 713 371 3,716 5,749 590 482 2,048 1,701 1,086 5,846 155

Transfers from valuation reserves.................

On loans :

65

7

3

106

59

325

378

308

2,340

2,891

1

1

30

5

41

13

461

174

16

256

64

1 0 2

15

116

71

174

124

3

213 Transfers from valuation reserves................. 33

245

72

219

2,356

370

3,272

3,065 238

13

172

723

749

703

358

104

303

826

626

1 2

151

Losses, charge-offs, and transfers to valuation reserves— total...................................... 3,474 3,239 12,388 47,635 2,786 1,123 11,231 7,287 4,490 9,623 1,396 On securities:

Losses on securities sold.................................. 28 63 751 1,039 494 94 760 268 425 581 175 Charge-offs prior to sale.................................. 56 28 417 920 13 17 123 1 0 1 55 2 0 1 18 Transfers to valuation reserves...................... 41 6 313 1,703 83 18 657 490 279 87 9 On loans:

Losses and charge-offs..................................... 92 116 655 4,767 96 42 485 115 275 171 196 Transfers to valuation reserves...................... 2,145 2,491 6,826 33,757 1,842 815 7,670 5,327 2,726 7,161 841

1 , 1 1 2 535 3,426 5,449 258 137 1,536 986 730 1,422 157

Net income before related taxes...................... 19,529 11,636 48,857 167,919 16,582 4,712 51,604 42,146 21,607 60,414 6,069

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Taxes on net incom e-total..............................

Federal........................................................................

State............................................................................

7,712

7,273

439

4,402

3,999

403

18,758

18,418

340

64.737

64.737

7,618

7,297

321

1,389

1,254

135

19.026

19.026

16.876

16.876

8.292

8.292

23,429

21,164

2,265

2.171

2.171

Net income after related taxes.........................

Dividends and interest on capital—total. . . .

Cash dividends declared on common stock. . . . 

Dividends declared on preferred stock and 

interest on capital notes and debentures. . . .

Net additions to capital from income............

11,817 7,234 30,099 103,182 8,964 3,323 32,578 25,270 13,315 36,985 3,898

4,883

4,875

8

2,667

2,663

4

11.372

11.372

49.774

49.774

4.772

4.772

1,436

1,366

70

15,129

15,063

66

11,062

11,062

4.739

4.739

15,432

15,287

145

1,346

1,342

4

6,934 4,567 18,727 53,408 4,192 1,887 17,449 14,208 8,576 21,553 2,552

Number of banking employees (exclusive of 

building employees) December 31:

Active officers............................................................

Other employees.......................................................

971

3,510

868

1,730

2,101

7,647

7,671

24,654

601

2,596

300

1,027

2,368

9,116

1,706

7,940

861

2,752

2,895

8,996

318

893

Memoranda

Recoveries credited to valuation reserves (not 

included in recoveries above):

On securities.............................................................. 23

230

4

905

2

356

59

921

169

4,051

85

9,439

111

21,588

89

1,121

385

3,391

2

432

20

1,072

2

2,139

24

3,116

On loans......................................................................

Losses charged to valuation reserves (not included in losses above):

On securities..............................................................

180 123 761

1

2,190

268

18 On loans...................................................................... 678 931 616 558

Occupancy expense of bank

premises

Occupancy expense of bank premises, net

—total..............................................................

Rental and other incom e............................................

Occupancy expense of bank premises, gross

—total..............................................................

Salaries— building department officers...............

Salaries and wages— building department

employees...............................................................

Building department personnel benefits.............

Recurring depreciation...........................................

Maintenance and repairs........................................

Insurance and utilities............................................

Rents paid..................................................................

Taxes...........................................................................

2,771

249

3,020

1

263

36

717

463

774

612

154

1,669

296

1,965

241

26

326

183

512

333

344

7,570

2,134

9,704

38

1,326

100

2,114

1.130 

1,609 

1,256

2.131

29,384

24,073

53,457

124

5,806

515

10,569

5,893

9,390

8,234

12,926

2,442

97

2,539

194

15

355

141

315

1,365

154

1,187

159

1,346

199

17

252

121

241

350

166

8,594

1,524

10,118

10

1,541

144

2,034

996

2,067

2,487

839

8,226

849

9,075

69

845

104

2,688

1,499

1,628

1,398

844

2,748

818

3,566

20

593

53

651

549

708

519

473

9,293

2,494

11,787

1

1,609

160

2,136

1,228

2,181

2,611

1,861

751

373

1,124

6

142

13

250

127

220

101

265

Number of building employees, December 31: 

Officers........................................................................ 1

161

2

176

6

648

16

2,120

2

756

6

247

10

296

3

817

2

Other employees....................................................... 130 96 67

Number of banks, December 3 1 .............................. 134 172 289 1,083 50 48 280 92 181 573 63

Note: For average asset and liability data by State see Table 112, pp. 146-147.

Back figures, 1946-1962: See the Annual Report for 1962, pp. 154-163, and earlier reports. COINCOME OF INSURED BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b l e 1 2 1 . I n c o m e o f I n s u r e d M u t u a l S a v in g s B a n k s , 1955-1963

(Amounts in thousands of dollars)

Income item 1955 1956 1957 1958 1959 1960 1961 1962 1963

Current operating incom e-total.......................................... 801,682 898,440 1,026,327 1,149,643 1,280,347 1,461,763 1,595,183 1,755,582 1,946,776

Interest on U. S. Government obligations................................ 150,657 146,624 147,157 141,950 146,353 152,458 151,931 156,410 153,659

Interest and dividends on other securities. .............................. 99,190 102,590 127,212 167,489 180,535 199,258 205,751 206,367 203,720

Interest and discount on real estate mortgage loans—net___ 528,426 623,586 720,215 808,975 921,315 1,070,173 1,194,282 1,342,896 1,534,446

Interest and discount on real estate mortgage loans—gross. . . 645,841 645,592 744,303 836,515 951,952 1,104,100 1,231,774 1,388,735 1,580,276

Less: Mortgage servicing fees ................................................... 15,623 20,475 23,138 25,985 29,154 32,343 36,045 39,283 44,174

Premium amortization...................................................... 1,792 1,531 950 1,555 1,483 1,584 1,447 1,556 1,666

Interest and discount on other loans and discounts—net. . . . 7,322 8,439 10,848 11,749 12,669 18,407 18,767 22,733 27,576

Income on real estate other than bank building—net............ -1 7 6 31 2 - 1 27 -3 8 -5 2 -108

Income on real estate other than bank building—gross........... 247 103 140 139 216 397 379 802 296

Less: Operating expense........................................................... 264 97 109 137 217 370 417 354 404 Income on other assets............................................................... 8,171 8,328 7,898 8,384 7,486 7,474 9,081 9,777 9,984

Income from service operations................................................. 7,933 8,867 12,966 11,094 11,990 13,966 15,409 17,451 17,499

Current operating expense— total........................................... 147,678 158,317 174,758 187,758 201,402 224,789 241,685 252,963 274,544

Salaries—officers.......................................................................... 24,200 25,861 28,590 30,099 32,082 36,608 38,158 40,466 42,792

Salaries and wages—employees................................................. 50,879 53,962 58,310 61,797 64,396 71,295 75,303 79,165 84,514

Pension, hospitalization and group insurance payments, and 

other employee benefits....................................................... 13,544 14,643 16,478 18,314 20,006 22,6,56 24,134 25,419 27,202

Fees paid to trustees and committee members........................ 2,697 2,809 3,007 3,203 3,366 3,731 3,994 4,158 4,404

Occupancy, maintenance, etc. of bank premises (including 

taxes and recurring depreciation)—net............................. 15,094 17,492 19,326 20,925 22,695 25,255 27,369 29,269 32,160

Occupancy, maintenance, etc. of bank premises (including

taxes and recurring depreciation)—gross......................... 22,793 25,380 27,846 30,252 32,268

9,573

35,120 37,298 39,297 42,583

7,699 7,888 8,520

9,407

9,327 9,865 9,929 10,028 10,423

Deposit insurance assessments............................... . . .............. 7,979 8,437 10,183 11,316 11,707 12,824 12,172 12,709

Furniture and fixtures (including recurring depreciation). . . . 2,790 3,058 3,251 3,501 4,445 4,740 5,438 5,997 7,714

All other current operating expense.......................................... 30,495 32,055 36,389 39,736 43,096 48,797 54,465 56,317 63,049

Net current operating income.................................................. 654,004 740,123 851,569 961,885 1,078,945 1,236,974 1,353,498 1,502,619 1,672,232

Franchise and income taxes—total........................................ 9,047 8,955 9,060 10,342 11,649 13,637 16,011 17,966 22,587

State franchise and income taxes............................................... 7,818 8,321 8,972 9,831 11,172 13,190 15,277 17,502 19,168

Federal income taxes................................................................... 1,229 634 8 8 511 477 447 734 464 3,419

Net current operating income after taxes............................ 644,957 731,168 842,509 951,543 1,067,296 1,223,337 1,337,487 1,484,653 1,649,645

Dividends and interest on deposits......................................... 536,256 609,335 716,383 812,254 897,469 1,073,542 1,147,767 1,334,005 1,481,869

Net current operating income after taxes and dividends. 108,701 121,833 126,126 139,289 169,827 149,795 189,720 150,648 167,776

Non-recurring income, realized profits and recoveries

credited to profit and loss, and transfers from valuation adjustment provisions—total.................................. 44,430 48,192 48,148 66,160 91,205 142,009 113,763 105,907 113,085

11,586 10,537 13,434 17,295 21,147 31,133 17,567 20,453 28,678

Realized profits and recoveries on: ! 

Securities sold or matured...................................................... 18,070 17,355 16,022 30,974 39,498 34,860 54,263 55,751 28,752

Real estate mortgage loans..................................................... 481 456 259 138 192 283 629 739 2,465

3,179 413 437 367 646 535 337 462 807

All other assets......................................................................... 977 1,435 431 624 2,498 6,576 459 957 871

Transfers from valuation adjustment provisions 1 on:

1,878 4,463 5,939 8,345 14,270 57,588 10,873 5,460 26,995

Real estate mortgage loans..................................................... 7,710 12,501 10,850 8,068 1 2 , 0 2 1 10,480 29,068 21,465 24,342

157 29 65 28 17 8 6 36 6 6 46

All other assets......................................................................... 392 1,003 711 321 916 468 531 554 129

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Non-recurring expense, realized losses charged to profit

and loss, and transfers to valuation adjustment provisions—total.........................................................................

Non-recurring expense................................................................

Realized losses on:

Securities sold..........................................................................

Real estate mortgage loans....................................................

Other real estate......................................................................

All other assets........................................................................

Transfers to valuation adjustment provisions 1 on:

Securities..................................................................................

Real estate morgage loans......................................................

Other real estate......................................................................

All other assets........................................................................

66,385

10,087

21,673

636

1 0 1

823

10,630

19,219

42

3,174

71,580

10,645

26,991

542

171

149

16,689

16,194

46

153

83,870

12,958

35,526

1,036

179

191

18,062

15,236

16

6 6 6

79,852

13,699

25,056

603

191

684

21,946

16,733

45

895

126,876

11,385

66,875

330

260

440

30,347

16,151

40

1,048

123,664

16,981

63,846

508

2 1 0

315

23,352

17,679

19

754

116,143

17,692

40,851

1,252

375

404

19,337

35,377

1 1 1

744

109,192

18,941

31,379

1,083

662

424

30,925

25,252

76

450

101,611

17,331

47,629

1,681

656

655

11,548

21,534

74

503

Net additions to total surplus accounts from operations. . 86,746 98,445 90,404 125,597 134,156 168,140 187,340 147,363 179,250

Memoranda

Recoveries credited to valuation adjustment provisions 1

(not included in recoveries above) on:

Securities...................................................................................... 23 1,151 972 571 173 471 278 1,658 3,389

^Real estate mortgage loans * ....................................................

Other real estate..........................................................................

50 268 365

39

14 99

2

136 53 48 2 0 1

All other assets............................................................................ 24 9 5 5 37 585 6 35 14

Realized losses charged to valuation adjustment provisions1 (not included in realized losses above) on:

Securities...................................................................................... 4,250 4,055 8,741 6,267 9,339 8 , 1 1 0 7,721 5,830 12,973

W leal estate mortgage loans........................................................ 326 318 342 217 197 1,131 720 501 5,136

Other real estate.......................................................................... 180 127 3 26 13

165

5 6

448

190 All other assets............................................................................ 326 51 67 300 385 218 178

Average assets and liabilities 2

Assets— total.................................................................................. 22,740,783 24,533,839 26,904,256 29,160,570 31,248,671 34,339,564 35,916,590 38,152,221 41,180,616

Cash and due from banks.......................................................... 809,152 757,496 723,830 742,225 689,698 721,308 757,912 794,362 786,298

United States Government obligations.................................... 5,993,243 5,730,449 5,592,025 5,338,796 5,236,825 5,092,512 4,791,909 4,748,691 4,563,328

Other securities............................................................................ 3,008,656 3,034,920 3,559,430 4,378,447 4,677,222 5,036,291 5,228,022 5,151,555 5,115,637

Real estate mortgage loans........................................................ 12,467,355 14,494,241 16,445,982 18,045,621 19,937,652 22,628,058 24,255,437 26,435,337 29,538,513

Other loans and discounts.......................................................... 130,165 155,376 185,174 227,027 244,010 355,327 353,474 441,994 543,458

Other real estate.......................................................................... 2,019 2,197 3,586 4,361 7,002 11,555 18,955 19,640 21,114

All other assets............................................................................ 330,193 359,160 394,229 424,093 456,262 494,513 510,881 560,642 612,268

Liabilities and surplus accounts— total............................... 22,740,783 24,533,839 26,904,256 29,160,570 31,248,671 34,339,564 35,916,590 38,152,221 41,180,616

Total deposits.............................................................................. 20,577,403 22,202,156 24,322,261 26,304,610 28,136,390 30,822,839 32,320,488 34,350,820 37,175,285

Savings and time deposits........................................................ 20,525,629 22,167,537 24,295,761 26,274,758 28,106,089 30,790,599 32,113,129 34,070,511 36,870,906

Demand deposits....................................................................... 61,774 34,619 26,500 29,852 30,301 32,240 207,359 280,309 304,379 Other liabilities............................................................................ 199,228 249,779 318,445 431,019 512,192 598,011 506,744 537,630 588,622

Total surplus accounts................................................................ 1,964,152 2,081,904 2,263,550 2,424,941 2,600,089 2,918,714 3,089,358 3,263,771 3,416,709

Number of active officers, December 31...................................... 2,042 2,130 2,239 2,356 2,504 2,885 2,977 3,085 3,170 Number of other employees, December 31.................................. 13,618 13,860 14,590 14,925 15,110 16,753 17,290 17,617 18,459

Number of banks, December 31................................................... 2 2 0 223 239 241 268 325 330 331 330

1 Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-downs).” I —1

2 For 1955 through 1960, averages of figures reported at beginning, middle, and end of year. For 1961 through 1963, averages of amounts for four consecutive official call dates beginning with the end of the previous year and ending with the fall call of the current year. ^

Back figures, 1934-1954: Data for 1934-1950, which however are not comparable with figures for 1951-1963, may be found in the following Annual Reports: 1941, p. 173: and 1950, 

pp. 272-273. For 1951-1954 see the Annual Report for 1959, pp. 166-167.

INCOME OF INSURED BANKS

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Federal Reserve Bank of St. Louis
*<1

05

Table 122. R a t io s o f In com e 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, 1955-1963

Income item 1955 1956 1957 1958 1959 1960 1961 1962 1963

Amounts per $100 of current operating income

$100.00 $100.00

16.32

$100.00

14.34

$100.00

12.35

$100.00

11.43

$100.00

10.43

$100.00

9.52

$100.00

8.91

$100.00

Interest on U. S. Government obligations................................................. 18.79 7.89

Interest and dividends on other securities.................................................

Interest and discount on real estate mortgage loans—net......................

Interest and discount on other loans and discounts—net.......................

Income on other assets.................................................................................

12.37

65.92

.91

1 .0 2

11.42

69.41

.94

.92

12.40

70.17

1.06

.77

14.57

70.37

1 .0 2

.73

14.10

71.96

.99

.58

13.63

73.21

1.26

.51

12.90

74.87

1.18

.57

11.76

76.49

1.29

.56

10.46

78.82

1.42

.51

Income from service operations.................................................................. .99 .99 1.26 .96 .94 .96 .96 .99 .90

Current operating expense— total............................................................ 18.42 17.62 17.03 16.33 15.73 15.38 15.15 14.41 14.10

Salaries—officers............................................................................................ 3.02 2 . 8 8 2.79 2.62 2.51 2.50 2.39 2.30 2 . 2 0

Salaries and wages—employees................................................................... 6.35 6 . 0 0 5.68 5.37 5.03 4.88 4.72 4.51 4.34

Pension, hospitalization and group insurance payments, and other employee benefits........................................................................................... 1.69 1.63 1.60 1.59 1.56 1.55 1.51 1.45 1.40

Fees paid to trustees and committee members......................................... .34 .31 .29 .28 .26 .26 .25 .24 .23

Occupancy, maintenance, etc. of bank premises (including taxes and 

recurring depreciation)—n e t................................................................... 1 .8 8 1.95 1 .8 8 1.82 1.77 1.73 1.72 1.67 1.65

Deposit insurance assessments.................................................................... .99 .94 .92 .89 .8 8 .80 .80 .69 .65

Furniture and fixtures (including recurring depreciation)....................... .35 .34 .32 .30 .35 .32 .34 .34 .39

All other current operating expense........................................................... 3.80 3.57 3.55 3.46 3.37 3.34 3.42 3.21 3.24

Net current operating income................................................................... 81.58 82.38 82.97 83.67 84.27 84.62 84.85 85.59 85.90

Franchise and income taxes— total.......................................................... 1.13 1 .0 0 .88 .90 .91 .93 1 .0 0 1.02 1.16

State franchise and income taxes................................................................ .98 .93 .87 .8 6 .87 .90 .96 1 .0 0 .98

Federal income taxes.................................................................................... .15 .07 .0 1 .04 .04 .03 .04 .0 2 .18

Net current operating income after taxes............................................. 80.45 81.38 82.09 82.77 83.36 83.69 83.85 84.57 84.74

Dividends and interest on deposits.......................................................... 66.89 67.82 69.80 70.65 70.10 73.44 71.95 75.99 76.12

Net current operating income after taxes and dividends................. 13.56 13.56 12.29 12.12 13.26 10.25 11.90 8.58 8.62

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Amounts per $100 of total assets1

Current operating income—total................................................................... 3.53 3.66 3.81 3.94 4.10 4.26 4.44 4.60 4.73 Current operating expense—total.................................................................. .65 .64 .65 .64 .65 .6 6 .67 . 6 6 .67

Net current operating income........................................................................ 2 . 8 8 3.02 3.16 3.30 3.45 3.60 3.77 3.94 4.06

State franchise and income taxes................................................................... .04 .04 .03 .04 .03 .04 .05 .05 .05 Net current operating income after taxes..................................................... 2.84 2.98 3.13 3.26 3.42 3.56 3.72 3.89 4.01

Dividends and interest on deposits................................................................ 2.36 2.48 2 . 6 6 2.78 2.87 3.12 3.19 3.50 3.60 Net current operating income after taxes and dividends............................ .48 .50 .47 .48 .55 .44 .53 .39 .41

Non-recurring income, realized profits and recoveries credited to profit and

loss, and transfers from valuation adjustment provisions 2—total......... .19 .19 .18 .2 2 .29 .41 .31 .28 .27 Non-recurring expense, realized losses charged to profit and loss, and

transfers to valuation adjustment provisions 2—total............................. .29 .29 .31 .27 .41 .36 .32 .28 .24

Net additions to total surplus accounts from operations............................ .38 .40 .34 .43 .43 .49 .52 .39 .44

Special ratios 1

Interest on U. S. Government obligations per $100 of U. S. Government

obligations..................................................................................................... 2.51 2.56 2.63 2 . 6 6 2.79 2.99 3.17 3.29 3.37

Interest and dividends on other securities per $100 of other securities... . 3.30 3.38 3.57 3.83 3.86 3.96 3.94 4.01 3.98

Interest and discount on real estate mortgage loans per $100 of real estate

mortgage loans.............................................................................................. 4.24 4.30 4.38 4.48 4.62 4.73 4.92 5.08 5.19

Interest and discount on other loans and discounts per $100 of other loans

and discounts................................................................................................ 5.63 5.43 5.86 5.18 5.19 5.18 5.31 5.14 5.07

Dividends andi nterest on deposits per $100 of savings and time deposits. . 2.61 2.75 2.95 3.09 3.19 3.49 3.57 3.92 4.02

Net additions to total surplus accounts from operations per $100 of total

surplus accounts........................................................................................... 4.42 4.73 3.99 5.18 5.16 5.76 6.06 4.52 5.25

Assets and liabilities per $100 of total assets 1

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........................................................................... 3.56 3.09 2.69 2.55 2 .2 1 2 . 1 0 2 .1 1 2.08 1.91

United States Government obligations..................................................... 26.36 23.36 20.78 18.31 16.76 14.83 13.34 12.45 11.08 Other securities............................................................................................. 13.23 12.37 13.23 15.01 14.97 14.67 14 56 13.50 12.42 Real estate mortgage loans......................................................................... 54.82 59.08 61.13 61.88 63.80 65.90 67.53 69.29 71.73 Other loans and discounts........................................................................... .57 .63 .69 .78 .78 1.03 .99 1.16 1.32 Other real estate........................................................................................... .0 1 .0 1 .0 1 .0 2 .0 2 .03 .05 .05 .05 All other assets............................................................................................. 1.45 1.46 1.47 1.45 1.46 1.44 1.42 1.47 1.49

Liabilities and surplus accounts— total................................................. 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 Total deposits............................................................................................... 90.49 90.50 90.40 90.20 90.04 89.76 89.99 90.04 90.27 Savings and time deposits......................................................................... 90.26 90.36 90.30 90.10 89.94 89.67 89.41 89.30 89.53

Demand deposits........................................................................................ .23 .14 .10 .10 .10 .09 .58 .74 .74 Other liabilities............................................................................................. .87 1 .0 2 1.19 1.48 1.64 1.74 1.41 1.41 1.43 Total surplus accounts................................................................................. 8.64 8.48 8.41 8.32 8.32 8.50 8.60 8.55 8.30

Number of banks, December 31..................................................................... 2 2 0 223 239 241 268 325 330 331 330

1 For 1955 through 1960, averages of figures reported at beginning, middle, and end of year. For 1961 through 1963, averages of amounts for four consecutive official call dates beginning with the end of the previous year and ending with the fall call of the current year.

2 Includes “ Valuation reserves” and “ Other asset valuation provisions (direct write-dow'ns).”

Back figures, 1934» 1941-1950, and 1951-1958: Data for 1934 and 1941-1950, which however are not comparable with figures for 1951-1960, may be found in the following Annual 

Reports: 1947, pp. 156-157 and 1950, pp. 274-275. For 1951-1954 see the Annual Report for 1959, pp. 168-169.

INCOME OF INSURED BANKS

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Federal Reserve Bank of St. Louis
D eposit I n su r an c e D isb u r se m e n t s

Table 123. Depositors, deposits, and disbursements in insured banks requiring disbursements 

by the Federal Deposit Insurance Corporation, 1934-1963

Banks grouped by class of bank, year of deposit payoff or deposit assumption,

amount of deposits, and State

Table 124. Insured banks requiring disbursements by the Federal Deposit Insurance Corporation during 1963

Table 125. Recoveries and losses by the Federal Deposit Insurance Corporation on principal 

disbursements for protection of depositors, 1934-1963

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 when the insured deposits of banks in

financial difficulties are paid off, or when the deposits of a failing bank

are assumed by another insured bank with the financial aid of the

Corporation. In deposit payoff cases the disbursement is the amount

paid by the Corporation on insured deposits. In deposit assumption

cases the principal disbursement is the amount loaned to failing banks,

or the price paid for assets purchased from them; additional disbursements are made in those cases as advances for protection of assets in

process of liquidation and for liquidation expenses.

Noninsured bank failures

No noninsured banks failed in 1963.

For suspensions of noninsured banks in previous years see the

Annual Reports of the Corporation as follows: 1943, p. 102; 1946, p.

167; 1947, p. 159; 1949, p. 187; 1950, p. 277; 1951, p. 187; 1952, p.

139; 1953, p. 131; 1954, p. 165; 1955, p. 161; 1956, p. 143; 1957, p.

145; 1958, p. 223; 1960, p. 181; 1961, p. 149; and 1962, p. 168.

Sources of data

Insured banks: books of bank at date of closing; and books of

FDIC, December 31, 1963.

DEPOSIT INSURANCE DISBURSEMENTS

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Federal Reserve Bank of St. Louis
T able 123. D e p o sito rs, D ep osits, and D isb u rse m e n ts in In s u r e d B a n k s R e q u irin g D isb u r se m e n ts by 

t h e F ed era l D ep osit In s u r a n c e C orp ora tion , 1934-1963

BANKS GROUPED BY CLASS OF BANK, YEAR OF DEPOSIT PAYOFF OR DEPOSIT ASSUMPTION, AMOUNT OF DEPOSITS, AND STATE

Classification

Number of b anks Number of depositors 1

Deposits 1 

(in thousands of dollars)

Disbursements by FDIC 

(in thousands of dollars)

Total Deposit

payoff

cases

Deposit

assumption

cases

Total Deposit

payoff

cases

Deposit 

assumption 

cases 3

Total Deposit

payoff

cases

Deposit

assumption

cases

Principal disbursements

Advances and 

expenses 2

Total

Deposit 

payoff 

cases 4

Assumption 

cases 5

Deposit 

payoff 

cases 6

Assumption 

cases 7

All banks.................................. 447 265 182 1,496,511 461,778 1,034,733 634,542 168,015 466,527 328,227 130,153 198,074 1,508 47,507

Class o f bank

National banks..................... 79 26 53 311,250 66,574 244,676 130,593 30,881 99,712 61,081 22,468 38,613 274 6,196 State banks members F. R. S. 24 8 16 372,545 86,939 285,606 190,536 29,417 161,119 103,265 22,994 80,271 147 19,273 Banks not members F. R. S.. 344 231 113 812,716 308,265 504,451 313,413 107,717 205,696 163,881 84,691 79,190 1,087 22,038

Year 8

1934........................................ 9 9 15,767 15,767 1,968 1,968 941 941 43 1935........................................ 25 24 1 44,655 32,331 12,324 13,319 9,091 4,229 8,890 6,026 2,865 108 272 1936........................................ 69 42 27 89,018 43,225 45,793 27,508 11,241 16,267 14,781 8,056 6,725 67 934 1937........................................ 75 50 25 130,387 74,148 56,239 33,349 14,960 18,389 19,160 12,045 7,116 103 905 1938........................................ 74 50 24 203,961 44,288 159,673 59,684 10,296 49,388 30,480 9,092 21,387 93 4,902 1939........................................ 60 32 28 392,718 90,169 302,549 157,772 32,738 125,034 67,770 26,196 41,574 162 17,603 1940........................................ 43 19 24 256,361 20,667 235,694 142,429 5,657 136,773 74,134 4,895 69,239 89 17,237 1941........................................ 15 8 7 73,005 38,594 34,411 29,718 14,730 14,987 23,880 12,278 11,602 50 1,479 1942........................................ 2 0 6 14 60,688 5,717 54,971 19,186 1,816 17,369 10,825 1,612 9,213 38 1,076 1943........................................ 5 4 1 27,371 16,917 10,454 12,525 6,637 5,888 7,172 5,500 1,672 53 72 1944........................................ 2 1 1 5,487 899 4,588 1,915 456 1,459 1,503 404 1,099 9 37 1945........................................ 1 1 12,483 12,483 5,695 5,695 1,768 1 768 96 1946........................................ 1 1 1,383 1,383 347 347 265 265 11

1947........................................ 5 5 10,637 10,637 7,040 7,040 1,724 1,724 351 1948........................................ 3 3 18,540 18,540 10,674 10,674 2,990 2,990 2 0 0 1949........................................ 4 4 5,671 5,671 5,475 5,475 2,552 2*552 166 1950........................................ 4 4 6,366 6,366 5,513 5,513 3,986 3^986 524 1951........................................ 2 2 5,276 5,276 3,408 3,408 1,885 1^885 127 1952........................................ 3 3 6,752 6,752 3,170 3,170 1,369 1*369 195 1953........................................ 2 2 24,469 24,469 18,262 18,262 5,017 5^017 428 1954........................................ 2 2 1,811 1,811 998 998 913 913 145 1955.................. ..................... 5 4 1 17,790 8,080 9,710 11,953 6,503 5,450 6,784 4,438 2,346 106 665 1956........................................ 2 1 1 15,197 5,465 9,732 11,330 4,702 6,628 3,333 2,795 538 87 51 1957........................................ 1 1 2,338 2,338 1,163 1,163 1,031 1,031 2 0 1958........................................ 4 3 1 9,587 4,380 5,207 8,240 4,156 4,084 3,026 2*796 230 38 31 1959........................................ 3 3 3,073 3,073 2,595 2,595 1,835 1,835 51 1960........................................ 1 1 11,171 11,171 6,930 6,930 4,765 4765 67 1961........................................ 5 5 8,294 8,294 8,936 8,936 6,202 6^202 146 1962........................................

1963........................................ 2 2 36,255 36,255 23,440 23,440 19,247 19,247 178

Banks with deposits of—

Less than $100,000............... 107 83 24 38,347 29,695 8,652 6,418 4,947 1,471 4,999 4,309 691 88 154 $100,000 to $250,000............ 109 86 23 83,370 65,512 17,858 17,759 13,920 3,839 12,906 11,554 1,352 209 173 $250,000 to $500,000............ 59 36 23 89,949 56,777 33,172 20,975 12,462 8,513 14,588 10,223 4,365 147 583 $500,000 to $1,000,000......... 67 32 35 157,506 71,860 85,646 50,972 24,184 26,788 33,964 19,107 14,857 297 2,136 $1,000,000 to $2,000,000___ 47 14 33 202,403 63,196 139,207 67,513 18,696 48,817 36,332 14,153 22,179 191 3,317 $2,000,000 to $5,000,000___ 34 9 25 244,780 66,141 178,639 106,929 30,791 76,138 55,742 21,120 34,622 248 5,525 $5,000,000 to $10,000,000. . . 14 2 1 2 209,840 19,557 190,283 91,063 13,589 77,474 36,507 10,223 26,284 108 5,491 $10,000,000 to $25,000,000 . . 6 3 3 197,988 89,040 108,948 113,494 49,426 64,068 59,536 39,465 20,070 221 5,404 $25,000,000 to $50,000,000 . . 4

4 272,328 272,328 159,418 159,418 73,653 73,653 24,723

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
oiaie

Alabama...........

Arkansas...........

California.........

Colorado...........

Connecticut. . . .

Florida..............

Georgia.............

Idaho................

Illinois..............

Indiana.............

Iowa..................

Kansas..............

Kentucky.........

Louisiana..........

Maine................

Maryland.........

Massachusetts..

Michigan..........

Minnesota........

Mississippi........

Missouri............

Montana..........

Nebraska..........

New Hampshire 

New Jersey. . . .

New York........

North Carolina. 

North Dakota. .

Ohio..................

Oklahoma.........

Oregon. .......

Pennsylvania.. . 

South Carolina. 

South Dakota. . 

Tennessee.........

Texas................

Vermont...........

Virginia............

Washington. . . . 

West Virginia. .

Wisconsin.........

Wyoming..........

23

3

1

5

2

8

5

3

47

5

5

1

39

26

7 

29

4 

11

2

29

2

23 

12

24 

3

8

1 

3

31

1

23

7,905

4,434

7,516

10

5,379

1,642

9,402

2,451

79,546

30,006

16,055

5,145

36,139

6,087

9,710

22,567

9,046

31,663

2.650

1.651

35,963

1,500

2,661

1,780

522,563

269,621

10,408

14,103

13,751

25,071

3,439

166,894

1,848

12,515

12,358

33,299

11,057

26,041

4,179

8,346

26,898

3,212

794

3,529

4,347

10

5,379

448

8,789

2,451

41,627

12,549

4,066

2,254

18,490

6,087

6,643

928

2.650

1.651

27,794

849

2,661

103,797

28,440

3,677

6,760

7,585

20,150

1,230

43,828

403

11,412

9,993

31,771

8,687

2,964

8,346’

18,739

7,111

905

3,169

1,194

613

37,919

17,457

11,989

2,891

17,649

’ ‘9,710'

15,924

9,046

30,735

8,169

651

1,780

418,766

241,181

6,731

7,343

6,166

4,921

2,209

123,066

1,445

1,103

2,365

1,528

2,370

23,077

4,179

8,159

3,212

2,285

1,764

4,792

8

1,526

491

1,959

1,894

50,761

13,593

9,401

1,234

8,888

1,652

5,450

4,566

3,019

13,532

818

334

8,086

1,095

1,042

296

194,630

145,439

3,266

3,830

7,223

13,765

2,670

75.756 

849

2,987

1,942

14,131

3,725

10.756 

1,538 

2,006

9,512

2,033

100

1,168

3,714

8

1,526

217

1,870

1,894

25,077

3,932

4,383

539

3,953

1,652

828

160

818

334

6,053

215

1,042

33,128

13,286

1,421

1,552

2,345

11,053

1,368

14,340

136

2,862

1,620

13,445

3,375

629

2,006

5,966

2,185

596

1,078

274

89

25,684

9,662

5.018

694

4,934

’ ’5,450'

3,738

3.019 

13,372

2,033

880

296

161,502

132,153

1,845

2,278

4,877

2,712

1,302

61,416

713

126

322

686

350

10,127

1,538

3,545

2,033

1,089

984

2,981

8

1,242

300

1,621

1,493

28,472

6,197

3,875

974

5,455

668

2,346

3,109

1,564

6,290

640

257

5,654

640

796

117

82,125

67,872

2,387

2,657

2,097

9,256

1,948

51,291

274

2,412

1,278

9,722

3,445

4,908

935

1,458

7,188

202

94

841

2,120

8

1,242

203

1,552

1,493

20,489

3,096

2,804

482

3,329

668

735

139

640

257

5,007

186

796

26,468

10,836

1,156

1,397

1,610

7,945

986

10,133

136

2,388

1,164

9,429

3,259

511

1,458

5,096

995

144

861

7,982

3,101

1,071

492

2,126

2,346

2,374

1,564

6,151

646

454

117

55,657

57,036

1,231

1,259

488

1,311

962

41,159

138

24

114

293

186

4,397

935

2,092

202

(9)

1

8

34

3

33

29

207

39

46

5

44

10

2

17

5

85

6

20

’ 161'

32

23

24 

7

160

11

75

' ’ 26

28

256

21

11

54

91

48

138

13

33

791’

384

113

72

201

371

1,030

760

77

21

......... 8

20,154

10,847

179

203

44

104

81

9,524

10

9

25

44

22

505

512

407

19

1 Adjusted to December 31, 1963.

2 Excludes $ 132 thousand of non-recoverable insurance expenses in cases which were resolved without payment of claims or a disbursement to facilitate assumption of deposits by 

another insured bank, and other expenses of field liquidation employees while pending assignments.

3 Number of deposit accounts.

4 Includes estimated additional disbursements in active cases. i—*

5 Excludes excess collections turned over to banks as additional purchase price at termination of liquidation. 0 0

6 These disbursements are not recoverable by the Corporation; they consist almost wholly of field payoff expenses.

7 Includes advances to protect assets and liquidation expenses of $47,293 thousand, all of which have been fully recovered by the Corporation, and $214 thousand of non-recoverable 

expenses.

8 Disbursement totals for each year relate to cases occurring during that year and may thus contain some amounts disbursed in subsequent years.

9 Less than $500.

Note: Due to rounding differences, components may not add to total.

DEPOSIT INSURANCE DISBURSEMENTS

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Federal Reserve Bank of St. Louis
Table 124. I n s u r e d B a n k s R e q u ir in g D is b u r s e m e n t s b y t h e F ederal D e po s it I n s u r a n c e C o rpo ratio n D u r in g 1963

Case

number Name and location

Class of 

bank

Number of 

depositors1 Date of closing

First payment to 

depositors

Disbursement2 Receiver or Liquidating Agent

Deposit

payoff

266 The First State Bank of Westmont, 

Illinois,

Westmont, Illinois

NM 8,393 May 24, 1963 June 4, 1963 $ 5,457,983 Federal Deposit

Insurance Corporation

267 Chatham Bank of Chicago, 

Chicago, Illinois

NM 27,870 August 23, 1963 September 4, 1963 13,789,376 Federal Deposit

Insurance Corporation

Assets3 Liabilities and capital accounts3

Case

number Cash and 

due from 

banks

U. S. Government 

obligations

Other

securities

Loans, 

discounts, 

and 

overdrafts4

Banking 

house, 

furniture & 

fixtures

Other

real

estate

Other

assets5

Total Deposits Other

liabilities

Capital

stock

Other

capital

accounts

Total

Deposit

payoff

266

$4,205,049 $3,823,849 $118,800 $16,736,971 $183,672 $85,000 $1,025,764 $26,179,105 $23,440,398 $325,410 $766,625 $1,646,672

2,615,732 2,167,645 85,000 1,281,639 40,181 865,111 7,055,308 6,658,730 57,547 50,000 289,031

267 1,589,317 1,656,204 33,800 15,455,332 143,491 85,000 160^653 19,123,797 16,781,668 267,863 716,625 1,357,641

1 At date of closing.

2 To December 31, 1963, plus estimated additional disbursements.

3 As determined by FDIC agents after adjustment of books of bank for liabilities or overdrafts discovered subsequent to closing.

4 Some or all of the items in case number 267 in the aggregate amount of $3,698,751 include simulated loan transactions involving officers or directors of the bank or their interests .

6 In case number 266 includes assets valued at $821,813 the ownership of which is now in litigation.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
lame 1 Z D . ItECOVERIES AND BOSSES BY THE FEDERAL JJEPOSIT INSURANCE CORPORATION ON

P r in c ip a l D is b u r s e m e n t s for P r o t e c t io n o f D e p o s it o r s, 1934-1963

(Amounts in thousands of dollars)

Liquidation 

status and 

year of deposit payoff 

or 

deposit 

assumption

All cases

Number

of

banks

Principal

disbursements

Recoveries 

to Dec. 

31, 19631

Estimated

additional

recoveries

Deposit payoff cases

Number

of

banks

Principal

disbursements3

Recoveries 

to Dec. 

31,1963

Estimated

additional

recoveries

Losses2

Deposit assumption cases

Number

of

banks

Principal

disbursements4

Recoveries 

to Dec. 

31, 19631

Estimated

additional

recoveries

Losses2

Total.

Status

Active........

Terminated. 

Year

1934........

19 3 5 .....

193 6 

193 7 

193 8 

1939.

1940.

1941.

1942.

1943.

1944.

1945.

1946.

1947.

1948.

1949.

1950.

1951.

1952.

1953.

1954.

1955.

1956.

1957.

1958.

1959.

1960.

1961.

1962.

1963.

447

22

425

25

69

75

74

60

43

15

20

5

2

1

1

5

3

4 

4 

2 

3 

2

328,227

84,235

243,992

941

8,890

14,781

19,160

30,480

67,770

74,134

23,880

10,825

7,172

1,503

1,768

265

1,724

2,990

2,552

3,986

1,885

1,369

5,017

913

6,784

3,333

1,031

3,026

1,835

4,765

6,202

282,804

64,180

218,624

734

6,184

12,326

15,611

28,055

60,617

70,237

23,290

10,137

7,048

1,462

1,768

265

1,620

2,349

2,183

2,601

1,792

577

5,017

650

6,554

2,985

1,031

2,776

1,722

4,765

4,371

14,570

14,570

119

30

91

2

‘84'

210

235

30,853

5,485

25,368

207

2,704

2,455

3,550

2,425

7,153

3,778

591

688

123

40

74

641

369

1,385

3

792

261

230

265

40

105

1,596

265

11

254

24

42

50

50

32

19

130,153

34,702

95,451

941

6,026

8,056

12,045

9,092

26,196

4,895

12,278

1,612

5,500

404

98,218

17,269

80,949

734

4,274

6,595

9,520

7,908

20,399

4,313

12,065

1,320

5,376

363

4,438

2.795 

1,031

2.796

1,835

4,765

6,202

4,208

2,447

1,031

2,729

1,722

4,765

4,371

14,144

14,144

84

27

235

17,791

3,289

14,502

207

1,751

1,460

2,524

1,184

5,798

582

213

292

123

40

230

265

40

105

1,596

182

11

171

198,074

49,533

148,541

184,586

46,911

137,675

1

27 

25 

24

28 

24

7

14

1

1

1

1

5

3

4 

4 

2 

3 

2

2

1

1

2,865

6,725

7,116

21,387

41,574

69,239

11,602

9,213

1,672

1,099

1,768

265

1,724

2,990

2,552

3,986

1,885

1,369

5,017

913

2,346

538

1,910

5,730

6,090

20,147

40,219

65,924

11,225

8,816

1,672

1,099

1,768

265

1,620

2,349

2,183

2,601

1,792

577

5,017

650

2,346

538

230 47

426

426

119

30

91

183

2,196

10,866

953

995

1,025

1,241

1,355

3,195

378

396

74

641

369

1,385

3

792

261

19,247 4,077 13,791 1,380 19,247 4,077 13,791 1,380

00

co

1 Excludes in deposit assumption cases recovery of all advances for asset protection, totaling $32,869 thousand, and all liquidation expenses totaling $14,424 thousand.

2 Includes estimated losses in active cases. Not adjusted for interest or allowable return, which was collected in some cases in which the disbursement was fully recovered.

3 Includes estimated additional disbursements in active cases.

* Excludes excess collections turned over to banks as additional purchase price at termination of liquidation.

Note: Due to rounding differences, components may not add to totals.

DEPOSIT INSURANCE DISBURSEMENTS

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INDEX

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I n dex

Of insured banks requiring disbursements by the Corporation. See

Banks in financial difficulties.

Of operating banks, 1963 .......................................................................................... 60

Of operating banks approved by the Corporation, 1963............................... 82-115

Regulation o f................................................................................................................. 6-8

Admission of banks to insurance :

Applications for, 1963 ............................................................................................ 6-7

Different methods followed ................................................................................... 3

Number of banks admitted, by class of bank, 1963........................................ 116

Applications from banks .................................................................................................. 6-8

Areas outside continental United States, banks and branches located in:

Assets and liabilities, December 20, 1963.......................................................... 134-135

Average assets and liabilities, insured commercial banks, 1963...................146-147

Deposits, December 20, 1963................................................................................... 126-127

Earnings, expenses, profits, and dividends, 1963..............................................164-165

Number, December 20, 1963...................................................................126-127, 134-135

Number, December 31, 1963................................................................................... 118

Assessments for deposit insurance .....................................................................14-18, 21-23

Assets, liabilities, and capital of banks (see also Deposits):

All banks:

Amounts by type and supervisory status, December 20, 1963.......... 56-57

By FDIC district and State, December 20, 1963....................................134-135

Capital ratios by type and supervisory status, December 20, 1963.. 58

In banks grouped according to insurance status and type of bank,

June 29, and December 20, 1963.................................................................130-133

Major categories, amounts and ratios, 1961-1963 ................................... 61

Percentage changes, each year, 1961-1963.................................................. 62

Percentage changes in total deposits, June 30, 1961 to June 29,

1963 ................................................................................................................... 65, 68-69

Commercial banks, June 29, and December 20, 1963..................................... 130-133

Percentage changes in total deposits and in loans, June 30, 1961 to

June 29, 1963 ................................................................................................66, 70-71

Insured banks, call dates, June 30, 1961, through December 20, 1963. .. .136-139

Insured commercial banks:

Amount, call dates, September 28, 1962, through December 20,

1963 .....................................................................................................................140-143

Average for 1963, by class of bank................................................................. 144

Average for 1963, by State...............................................................................146-147

Percentage distributions, average for 1963, by class of bank............... 144

Absorptions: Page

187

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Federal Reserve Bank of St. Louis
1 8 8 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Assets, liabilities, and capital of banks (see also Deposits)— Continued:

Insured commercial banks— Continued:

Percentage distributions, call dates, September 28, 1.962, through December 20, 1962 ..............................................................................................140-143

Percentage distributions of totals among size groups of banks, December 20, 1963 .............................................................................................. 76, 145

Ratio of selected items to total assets, by size of bank, December

20, 1963 ...............................................................................................................148-149

Insured mutual savings banks:

Amount, and percentage distributions, call dates, September 28,

1962, through December 20, 1963 ...............................................................140-143

Major categories, average, 1955-1963.......................................................... 175

Mutual savings banks:

Banks grouped by insurance status, June 29, and December 20,

1963 .............................................................................................. ...................... 130-133

Percentage changes in total deposits and in loans, June 30, 1961

to June 29, 1963............................................................................................66, 70-71

Sources of data ................................................................................................129, 151, 179

Assets and liabilities of the Federal Deposit Insurance Corporation.......... 14-15, 21

Assets pledged to secure bank obligations.................................................................139, 143

Assets purchased by the Federal Deposit Insurance Corporation from banks

in financial difficulties ...........................................................................5, 179, 183

Assumption of deposits of insured banks with financial aid of the Corporation (see also Banks in financial difficulties)...................4-5, 179-181, 183

Attorney General of the United States, summary reports on absorptions.. . 82-115

Audit of the Federal Deposit Insurance Corporation............................................ 19-23

Bad-debt reserves. See Valuation reserves.

Bank supervision. See Supervision of banks; Examination of insured banks.

Banking offices, number of. See Number of banks and branches.

Bank practices. See Unsafe and unsound banking practices.

Banks, applications from, acted on by the Federal Deposit Insurance Corporation ................................................................................................................... 6-7

Banks in financial difficulties:

Insured banks requiring disbursements by the Corporation:

Deposit size o f ...................................................................................................... 180

Deposits protected, 1934-1963........................................................ 3-5, 28, 180-181

Disbursements by the Corporation, 1934-1963.......................5-6, 23n, 179-183

Loans made and assets purchased by the Corporation....................... 5

Location by State, 1934-1963......................................................................... 181

Losses incurred by the Corporation............................................4-6, 29-30, 183

Losses incurred by depositors...................................................................4-5, 29-30

Name and location of, 1963 ............................................................................. 3

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Federal Reserve Bank of St. Louis
INDEX 189

Page

Banks in financial difficulties— Continued:

Insured banks requiring disbursements by the Corporation— Continued:

Number of, 1934-1963 ........................................................................................5, 27-29

Number of deposit accounts, 1934-1963 ............................................4-5, 180-181

Proportion of banks closed in relation to operating banks................... 30-31

Recoveries by the Corporation on assets acquired, 1934^-1963.......... 5-6, 183

Insured banks closed not requiring disbursements by the Corporation,

1934-1962 ................................................................................................................... 42

Noninsured banks:

Deposits of commercial banks closed, by year, 1934-1962...............27-28, 32

List of banks closed, by State, 1934-1962 .................................................. 36-40

Losses incurred by depositors, by year, 1934-1962............................... 29-30, 32

Proportion of closed in relation to operating banks, by insurance

status, 1934-1962 ............................................................................................ 30-31

Results of liquidation of noninsured commercial banks closed,

by year ................................................................................. .. ........................ 32-34

Results of liquidation of noninsured commercial banks closed,

by State ........................................................................................................... 33-34

Sources of data .......................................................................................................... 179

Suspensions, 1963 ........................................................................................................ 116

Suspensions of noninsured banks, 1934-1963................................................27-29, 179

Banks, number of. See Number of banks and branches.

Banks operating branches, December 31, 1963........................................................ 118-125

Board of Directors of the Federal Deposit Insurance Corporation. See Federal Deposit Insurance Corporation.

Board of Governors of the Federal Reserve System. See Federal Reserve

Authorities.

Branches (See also Number of banks and branches):

Establishment approved by Federal Deposit Insurance Corporation,

1963 .............................................................................................................................. 6-7

Examination of, 1962 and 1963............................................................................... 9

Increase, branches of all banks, 1961-1963............................................................ 60, 117

Business and personal deposits. See Deposits (items referring to type of

account).

Call reports. See assets, liabilities, and capital of banks; Reports from banks.

Capital of banks. See Assets, liabilities, and capital of banks; Banks in financial difficulties; Income of insured commercial banks; Examination of insured banks.

Charge-Offs by banks. See Income of insured commercial banks; Income

of insured mutual savings banks; Valuation reserves.

Class of bank, banking data presented by:

Admissions to and terminations of insurance ... 116

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190 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Class of bank, banking data presented by— Continued:

Assets and liabilities of all banks.................................................................56, 130-133

Deposits, December 20, 1963.................................................................................... 57

Income of insured commercial banks, 1963........................................................ 156-157

Insured banks requiring disbursements by the Corporation, 1934-1963.. 180

Number of banks and banking offices, 1963................................................55, 116-125

Ratios of income of insured commercial banks, 1963....................................158-159

Classification of banks ............................................................................................56-57, 80-81

Closed banks. See Banks in financial difficulties.

Commercial banks. See Assets, liabilities, and capital of banks; Deposits;

Income of insured commercial banks; Number of banks and

branches.

Comptroller General of the United States................................................................. 19-23

Comptroller of the Currency........................................................ iv, v, 3, 7, 12, 56, 129-151

Consolidations. See Absorptions.

Coverage of deposit insurance, banks participating................... ........ 3, 116-125

Credit, bank. See Assets, liabilities, and capital of banks.

Demand deposits. See Assets, liabilities, and capital of banks; Deposits

(items referring to type of account).

Deposits:

All banks:

By insurance status of bank and type of account, December 20,

1963 .................................................................................................. .................. 133

By insurance status of bank and type of account, June 29, 19 6 3 .... 131

By supervisory status and insurance status, December 20, 19 63 .... 57

By type of account in each State and FDIC district, December

20, 1963 ...............................................................................................................134-135

By type of bank and insurance status, December 20, 1963............... 57

By type of bank in each State and FD IC district, December 20,

1963 .......................................................................................................................126-127

Percentage change, 1961-1963 ....................................................................... 62-63

Percentage changes in total deposits, June 30, 1961 to June

29, 1963:

By insurance status and type of bank.............................................. 65

By FDIC district .......................................... ........................................... 68

By population of center in which located........................................ 69

All insured banks:

By type of account, December 20, 1963.................................................... 133

By type of account, call dates, June 30, 1961, through December

20, 1963 ............................................................................................................... 138

Ratios of deposit insurance fund to, 1934-1963........................................15n, 19

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Federal Reserve Bank of St. Louis
INDEX 191

Page

Deposits— Continued:

Commercial banks:

By FDIC district and State, December 20, 1963....................................126-127

By type of account, December 20, 1963.................................................... 133

By type of account, June 29, 1963................................................................. 131

By insurance status, 1934-1962 ....................................................................... 31-32

Percentage changes in total deposits, June 30, 1961 to June 29, 1963:

By amount of deposits............................................................................. 66

By ratio of demand deposits to total deposits............................... 70

Percentage changes in total deposits and in loans, June 30, 1961

to June 29, 1963 .............................................................................................. 71

Insured banks requiring disbursements by the Corporation. See Banks

in financial difficulties.

Insured commercial banks:

Amount, by type of account, call dates, September 28, 1962, through

December 20, 1963 .......................................................................................... 142

Percentage distributions of selected totals among size groups of

banks, December 20, 1963............................................................................. 145

Insured mutual savings banks:

By FDIC district and State, December 20, 1963................................... 126-127

By type of account, call dates, September 28, 1962, through December 20, 1963 ...................................................................................................... 142

Interest and dividends on, 1955-1963............................................................ 174

Mutual savings banks:

By FDIC district and State, December 20, 1963................................... 126-127

By type of account, June 29, and December 20, 1963........................... 131, 133

Percentage changes in total deposits, by amount of deposits, June

30, 1961 to June 29, 1963 ............................................................................. 67

Percentage changes in total deposits and in loans, June 30, 1961

to June 29, 1963 .............................................................................................. 72

Noninsured banks:

By FDIC district and State, December 20, 1963........................................126-127

By type of account and type of bank, June 29 and December 20,

1963 .....................................................................................................................131, 133

Operating commercial banks, 1934-1962.................................................... 31-32

Sources of data ............................................................................................................. 129

State legislation .......................................................................................................... 48-49

Deposits, insured by FDIC, 1934-1963......................................................................... 19

Directors of the Federal Deposit Insurance Corporation. See Federal

Deposit Insurance Corporation.

Disbursements. See Banks in financial difficulties.

Dividends:

To depositors in insured mutual savings banks. . . . .... 76-77, 174, 176-177

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

Dividends— Continued:

To stockholders of insured commercial banks. See Income of insured

commercial banks.

Earnings of banks. See Income of insured commercial banks; Income of

insured mutual savings banks.

Educational program for bank examiners. ... 13

Employees:

Federal Deposit Insurance Corporation. . . 12-13

Insured commercial banks:

Distribution by deposit size of bank, 1963................................................ 76

Number and compensation, 1955-1963........................................................ 152-155

Number and compensation, by class of bank, by size of bank, and

by State, 1963.................................................................156-157, 160-161, 164-173

Insured mutual savings banks, number and compensation........................... 174-175

State legislation .................................................................................................. 51

Examination of insured banks:

Banks examined by the Federal Deposit Insurance Corporation, 1962-

1963 .....................................................................................................................9, 56-57

Examination school .................................................................................................. 13

Examination staff ..................................................................................................vi, vii, 13

Powers granted to supervisory authorities........................................................ 55-57

Expenses of banks. See Income of insured commercial banks; Income of

insured mutual savings banks.

Expenses of the Corporation..................... ....1 4 , 16, 11, 22

Failures. See Banks in financial difficulties.

Federal bank supervisory authorities.................................................................6-10, 55-58

Federal Deposit Insurance Act. (see also Legislation relating to deposit insurance and banking)............................................................................. 15n

Federal Deposit Insurance Corporation:

Assessments on insured banks.............................................................................14-18, 23

Assets ...........................................................................................................................14-15, 21

Audit ............................................................................................................................... 19-20

Banks examined by, and submitting reports to ................................................9, 55-57

Board of Directors, actions on applications and banking practices. . . . 6-10

Borrowing power ...................................................................................................... 15n

Capital stock .............................................................................................................. 15n

Coverage of deposit insurance, banks participating...................3, 31, 55, 116-125

Deposit insurance fund (surplus).....................................................................15n, 16-23

Directors (members of the Board)....................................................................... v, 12

Disbursements for protection of depositors........................................3-6, 28, 179-183

Districts ......................................................................................................................... vi-vii

Divisions .................................................... ........................................................ iv, 13

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Federal Reserve Bank of St. Louis
INDEX 193

Page

Federal Deposit Insurance Corporation— Continued:

Educational program for bank examiners........................................................ 13

Employees ..................................................................................................................... 12-13

Examination of banks................................................................................. vi-vii, 9, 55-57

Financial statements .................................................................................................. 21-23

Income and expenses, 1933-1963............................................................................. 16-18

Income and expenses, 1963................................................................................. 14, 16, 22

Insured banks requiring disbursements by. See Banks in financial difficulties.

Liabilities ...................................................................................................................14-15, 21

Loans to and purchase of assets from insured banks...........................5-6, 179-181

Losses incurred, 1934-1963.................................................................4-6, 18, 29-30, 183

Methods of protecting depositors.....................................................................5, 179-182

Organization and staff........................................................................................iv-vi, 12-13

Payments to insured depositors............................................................................. 4-5

Protection of depositors ................................................................................. 3-6, 180-181

Recoveries ............................................................................... ...................5-6, 183

Reports from banks .................................................................................................. 10

Reserve for losses on assets acquired..................................................................... 5-6

Retirement of capital stock of the Corporation................................................ 15n

Rules and regulations .............................................................................................. 11, 45

Sources and uses of funds.......................................................................................... 16-17

Supervisory activities..........................................................................................6-10, 55-58

Federal Deposit Insurance Corporation districts, banking data classified by:

All banks:

Assets and liabilities, December 20, 1963................................................ 134

Number and deposits, by type of bank, December 20, 1963................... 126

Federal Reserve authorities...........................................................................3, 7, 56, 129, 151

Federal Reserve member banks. See class of bank, banking data presented

by.

General Accounting Office .............................................................................................. 19

Government deposits. See Deposits (items referring to type of account).

Income of the Federal Deposit Insurance Corporation .. . .. 14, 16-18, 22

Income of insured commercial banks:

Amounts of principal components:

Annually, 1955-1963 ..........................................................................................152-153

By class of bank, 1963........................................................................................156-157

By size of bank, 1963 ....................................................................................... 160-161

By State, 1963 ...................................................................................................... 164-173

Charge-offs and recoveries, 1955-1963...................................................................152-153

Income, sources and disposition of total, 1961-1963........ 74-75

Profits, 1955-1963 ..152-153

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194 FEDERAL DEPOSIT INSURANCE CORPORATION

Page

Income of insured commercial banks— Continued:

Profits, 1963 ....................................................................... ... 156-157, 160-161

Rates of income on assets, 1955-1963......................... ...............154-155

Rate of net profit on total capital accounts, 1963... . .. 154, 159, 163

Ratios of income items:

Annually, 1955-1963 ............................................ .. . 154-155

By class of bank, 1963.................................................. ... 158-159

By size of bank, 1963........................................................ .. .162-163

Sources and disposition of total, 1961-1963.............................................. 75

Ratios of expense items.......................................................... 75, 154, 158-159, 162-163

Revision of report of income and dividends.................................................... 151

Selected operating ratios, 1961-1963................................................................. 75

Sources of data .............................................. ................... 151

Income of insured mutual savings banks:

Amounts of principal components, 1955-1963.............. ... 174-175

Income, sources and disposition of total, 1961-1963. . . 76-77

Rates of income on assets, 1955-1963............................... ......................... 177

Ratios of income items........................................................................................77, 176-177

Ratios of expense items......................................................................................77, 176-177

Sources of data............................................................................................................... 151

Insolvent banks. See Banks in financial difficulties.

Insurance of bank obligations................................................ . . .3, 18-19

Insurance status, banks classified by:

Assets and liabilities, June 29 and December 20, 1963.............................56, 130-133

Capital ratios ............................................................................................................... 58

Changes in number, 1963..........................................................................................116-117

Deposits, June 29 and December 20, 1963..................................... 126-127, 131, 133

Number, December 31, 1963............................................................................. 55, 118-125

Number, December 20, 1963 ....................................................................................126-127

Percentage of banks insured, by State, December 31, 1963.......................118-125

Insured banks. See Assets, liabilities, and capital of banks; Banks in financial

difficulties; Deposits; Income of insured commercial banks; Income of insured mutual savings banks; Number of banks and

branches.

Insured commercial banks not members of the Federal Reserve System. See

Class of bank, banking data presented by.

Insured deposits. See Banks in financial difficulties; Coverage of deposit insurance, banks participating.

Insured State banks members of the Federal Reserve System. See Class of

bank, banking data presented by.

Interbank deposits. See Deposits (items referring to type of account).

Interest. See Income of insured commercial banks; Income of insured mutual

savings banks.

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Page

Investments. See Assets, liabilities, and capital of banks; Assets and liabilities

of the Federal Deposit Insurance Corporation; Banks in financial

difficulties.

Law, violations of by insured banks............................................ .. 9-10

Legislation relating to deposit insurance and banking:

Federal, enacted in 1963..............................................................................................11, 45

Relating to bank supervision...................................................................................... 47

State, enacted in 1963 .................................................................................................... 47-52

Loans. See Assets, liabilities, and capital of banks; Banks in financial difficulties.

Losses:

Of banks, charged off. See Income of insured commercial banks; Income

of insured mutual savings banks.

Of the Federal Deposit Insurance Corporation.........................5-6, 11, 29-30, 183

Provision for, in insured banks, 1955-1963........................................152-153, 174-175

Mergers. See Absorptions.

Methods of tabulating banking data:

Assets and liabilities of banks.................................................................................... 129

Deposit insurance disbursements......................................................................... 179

Income of insured banks.............................................................................................. 151

Number, offices, and deposits of banks................................................................. 80-81

Mutual savings banks. See Assets, liabilities, and capital of banks; Deposits;

Income of insured mutual savings banks; Number of banks and

branches.

National banks. See Class of bank, banking data presented by.

New banks, 1963 .................................................................................................... 58, 60, 116-117

Noninsured banks. See Absorptions; Admission of banks to insurance; Assets,

liabilities, and capital of banks; Banks in financial difficulties;

Classification of banks; Class of bank, banking data presented b y ;

Deposits; Number of banks and branches; Reports from banks.

Number of banks and branches:

Banking offices (banks and branches):

By insurance status, type of bank, and State, December 31, 1963... .118-125

Changes during 1963............................................................................................58, 117

Banks:

By insurance status, operating commercial banks, 1934-1962............... 31-32

By insurance status and type of bank, December 31, 1963...................55, 116

By insurance status and type of bank, December 20, 1963................... 133

By insurance status and type of bank, June 29, 1962............................... 131

By insurance status, type of bank, and State, December 31, 1963.. .118-125

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196 FEDERAL DEPOSIT INSURANCE CORPORATION

Number of banks and branches— Continued: Page

Banks— Continued:

By percentage changes in total deposits, June 30, 1961 to June 29,

1963 ....................................................................................................................... 64

By percentage changes in total deposits, and by insurance status and

type of bank, June 30, 1961 to June 29, 1963 ............................................ 65

By percentage changes in total deposits, and by FDIC district, June

30, 1961 to June 29, 1963................................................................................. 68

By percentage changes in total deposits, and by population of center

in which located, June 30, 1961 to June 29, 1963................................... 69

By insurance status, type of bank, FDIC district and State, December 20, 1963.........................................................................................................126-127

Changes during 1963, by type of bank...........................................................60, 116

Operating branches, by insurance status and State, December 31,

1963 .....................................................................................................................118-125

Branches:

By insurance status, type of bank, and State, December 31, 1963.. .118-125

Changes in, during 1963 ............................................................................. 58, 60, 117

Number of, 1963 ............................................................................................ 60, 117-125

Commercial banks:

By percentage changes in total deposits, and by amount of deposits,

June 30, 1961 to June 29, 1963..................................................................... 66

By percentage changes in total deposits, and by ratio of demand deposits to total deposits, June 30, 1961 to June 29, 1963....................... 70

By percentage changes in total deposits and in loans, June 30, 1961

to June 29, 1963.................................................................................................. 71

Changes during 1961, 1962, and 1963............................................................... 60

Insured commercial banks:

December 31, 1955-1963......................................................................................153-155

December 31, 1963 by class, deposit size of bank, or State

76, 157, 161, 165, 167, 169, 171, 173

Distributed by capital ratios and distribution of assets, December

20, 1963 ...........................................................................................................148, 149

Insured mutual savings banks, 1955-1963............................................................ 175-177

Mutual savings banks, December 31, 1963..................................................55, 116-125

Mutual savings banks, December 31, 1961, 1962, 1963...................................... 60

Mutual savings banks, December 20, 1963........................................................ 126-127

Mutual savings banks:

By percentage changes in total deposits, and by amount of deposits,

June 30, 1961 to June 29, 1963....................................................................... 67

By percentage changes in total deposits and in loans, June 30, 1961

to June 29, 1963.................................................................................................. 72

Noninsured banks:

Noninsured banks, December 31, 1963. . . . . .116-125

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Number of banks and branches— Continued:

Noninsured banks— Continued:

Noninsured banks, December 20, 1963

Trust companies, December 31, 1963.

Trust companies, December 20, 1963.

. . 126-127

55, 116-125

...1 2 6 -1 2 7

Unit banks, by insurance status and State, December 31, 1963. .. .118-125

Obligations of banks. See Assets, liabilities, and capital of banks; Deposits.

Officers of insured banks. See Employees.

Operating banks. See Number of banks and branches.

Payments to depositors in closed insured banks. See Banks in financial

difficulties.

Personnel. See Employees.

Possessions, banks and branches located in. See Areas outside continental

United States, banks and branches located in.

Protection of depositors. See Banks in financial difficulties.

Public funds. See Deposits (items referring to type of account).

Receivership, insured banks placed in. See Banks in financial difficulties.

Recoveries:

By banks on assets charged off. See Income of insured commercial banks;

Income of insured mutual savings banks.

By the Corporation on disbursements. See Banks in financial difficulties.

Reports from banks... ...................................................... .....................10,27

Reserves:

Of Federal Deposit Insurance Corporation, for losses on assets acquired. . 16

Of insured banks for losses on assets. See Valuation reserves.

With Federal Reserve banks. See Assets, liabilities, and capital of banks.

Salaries and wages:

Federal Deposit Insurance Corporation........ ........................................................ 16

Insured banks. See Income of insured commercial banks; Income of insured mutual savings banks.

Savings and time deposits. See Deposits (items referring to type of account).

Securities. See Assets, liabilities, and capital of banks; Assets and liabilities

of the Federal Deposit Insurance Corporation; Banks in financial

difficulties.

Size of bank, data for banks classified by amount of deposits:

Assets and liabilities, insured commercial banks, 1963..................... ... 145

Banks requiring disbursements by the Corporation, 1934-1963.... 180

Disbursements for protection of depositors, 1934-1963.... ... 180

Income data of insured commercial banks, 1963................... .. .160-161

Officers of the Federal Deposit Insurance Corporation. v, 12-13

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Page

Size of bank, data for banks classified by amount of deposits— Continued:

Income ratios of insured commercial banks, 1963................................. 75, 162-163

Number of employees of insured commercial banks, 1963...........................76, 161

Number of insured commercial banks, 1963..............................................76, 161, 163

Number of insured commercial banks grouped by ratios of selected items

to assets, December 20, 1963....................................................................... 148-149

Percentages of selected totals, insured commercial banks, 1963 ................. 76

State bank supervisory authorities:

Chartering and regulation of banks b y ................................................................. 47

Data obtained from.................................................................................................... 27, 129

Number of banks supervised b y ............................................................................. 55-57

State legislation regarding........................................................................................ 47

State, banking data classified b y :

Assets and liabilities of banks, December 20, 1963..........................................134-135

Deposits of banks, by class of bank, December 20, 1963............................... 126-127

Disbursements, deposits, and depositors in insured banks requiring disbursements by the Corporation, 1934-1963.............................................. 181

Income of insured commercial banks, 1963...................................................... 164^173

Number of banks and branches, by class of bank and type of office, December 31, 1963.................................................................................................. 118-125

Number of banks and branches, by class of bank and type of office, December 20, 1963................................................................................................126-127

Percentage of banks insured, December 31, 1963..............................................118-125

State banking legislation enacted in 1963................................................................... 47-52

State banks. See Class of bank, banking data presented by.

Stockholders of banks, net profits available for. See Income of insured commercial banks.

Summary of this report...................................................................................... xv

Supervision of banks (see also Examination of insured banks):

By the Federal Deposit Insurance Corporation.......................vi-vii, 6-10, 55-58

Federal and State supervision............................................................................... 55-58

State legislation, 1963................................................................................................ 47-^52

Suspensions. See Banks in financial difficulties.

Taxes paid by insured banks. See Income of insured commercial banks;

Income of insured mutual savings banks.

Terminations of insurance for unsafe and unsound practices............................. 9-10

Time and savings deposits. See Deposits (items referring to type of account).

Trust companies, classification o f............................................................................... 55, 80-81

Trust powers:

Applications for ........................................................................................................... 7

State legislation ............................................................................................................. 50

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Page

Unit banks, by insurance status and State, December 31, 1963. . .118-125

Unsafe and unsound banking practices.............................................. 9-10

Valuation reserves (see also Assets, liabilities, and capital of banks):

Amounts held, call dates, June 30, 1961, through December 20, 1963.... 137

Amounts held, June 29 and December 20, 1963........................................130, 132, 141

Changes, 1955-1963 ................................................................................... 152-153, 174-175

Violations of law or regulations, banks charged with.............................................. 9-10

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Federal Reserve Bank of St. Louis