ANNUAL REPORT

OF THE

FEDERAL DEPOSIT INSURANCE CORPORATION

FOR THE YEAR ENDING 

DECEMBER 31, 1937

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
LETTER OF TRANSMITTAL

F ederal D eposit Insurance C orporation,

Washington, D. C., May 17,19S8.

SIR: Pursuant to the provisions of subsection (r) of section 

12B of the Federal Reserve Act, as amended, the Federal Deposit 

Insurance Corporation has the honor to submit its annual report.

Respectfully,

L e o T . C r o w le y , Chairman.

T he President of the Senate

T he Spe ak er op the H ouse op R epresentatives

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Federal Reserve Bank of St. Louis
CONTENTS

Page

In trod u ction and S u m m a ry ................................. 3

PA R T ONE

OPERATIONS AND POLICIES OF THE CORPORATION

Operations and Policies op the Corporation..................................... 9

Insolvent Insured Banks Closed......................................................................... 9

Insolvent banks suspended............................................................................... 9

Deposits paid by the Corporation.................................................................. 10

Insolvent banks absorbed with aid of loans or purchase of assets by the

Federal Deposit Insurance Corporation................................................... 10

Other mergers and liquidations of banks in a weakened position......... 12

R epayments to the Corporation.......................................................................... 12

Recoveries from banks in receivership.......................................................... 12

Recoveries on loans and assets purchased.................................................... 13

Maintenance of a Sound Banking Structure.............................................. 13

Bank examinations.............................................................................................. 14

Policv of the Corporation regarding capital of banks................................ 15

Quality of assets.................................................................................................. 16

Policy regarding bank loans............................................................................. 16

Policy regarding securities................................................................................. 16

Holding company banking................................................................................ 17

Unsafe and Unsound Banking Practices......................................................... 17

Action on unsafe and unsound practices and violations of law or

regulations........................................................................................................ 17

Character of unsafe and unsound practices and violations of law or

regulations leading to Corporation action................................................ 19

Other Actions of the Corporation..................................................................... 20

Admissions to and terminations of insurance............................................... 20

Establishment of branches or additional offices.......................................... 21

Size of centers in which the establishment of additional banking offices

was approved by tfie Corporation.............................................................. 21

Changes in capital of banks............................................................................. 22

Release of restricted deposits........................................................................... 22

Assumption of deposits in noninsured banks............................................... 23

Changes in location of insured banks............................................................ 23

Reports from Ba n k s.................................................................................................. 23

Reports of assets and liabilities and of earnings......................................... 23

Regulations and R ulings of the Corporation. .. 23

Legislation Affecting Deposit Insurance....................................................... 24

Federal legislation............................................................................................... 24

State legislation.................................................................................................... 24

Organization and Sta ff............................................................................................ 24

Directors................................................................................................................ 24

Personnel...................................................................................................... ........ 24

Financial Statement of the Corporation....................................................... 24

Legal authority for disbursement of funds................................................... 24

Assets and liabilities and distribution of expenses...................................... 25

Income and expenses.......................................................................................... 25

Assessments........................................................................................................... 28

Income from investments.................................................................................. 28

Operating expenses.............................................................................................. 28

Reports to insured banks.................................................................................. 28

V

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

PA R T TW O

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

Page

Summary op Banking Developments.............. 31

Commercial Banking Offices................................................................................. 31

Number and types of commercial banking offices in operation.............. 31

Changes in operating commercial banking offices during 1937............... 32

Participation by Commercial Banks in Deposit Insurance................... 32

Number of operating insured and noninsured commercial banks and

banking offices................................................................................................. 32

Admissions to and terminations of insurance.............................................. 33

Deposits of operating commercial banks....................................................... 34

Assets and Liabilities of Operating Commercial Banks.......................... 35

Assets and liabilities of insured commercial banks at the beginning

and close of the year...................................................................................... 35

Bank capital and the expansion of loans...................................................... 35

Assets and liabilities of all commercial banks, 1920, 1929, and 1937___ 37

Appraisal of Assets of Insured Commercial Banks not M embers of

the Federal Reserve System........................................................................... 38

Total assets........................................................................................................... 38

Securities............................................................................................................... 40

Loans...................................................................................................................... 41

Criticized loans of all insured commercial banks........................................ 42

Capital of Operating Insured Commercial Banks...................................... 42

Capital rehabilitation of all insured commercial banks............................ 43

Capital rehabilitation of insured commercial banks not members of the

Federal Reserve System................................................................................ 43

Quality of M anagement of Operating Insured Commercial Banks not

M embers of the Federal R eserve System................................................. 46

Earnings of Operating Insured Commercial Ba n k s................................... 48

Net current operating earnings of all insured commercial banks........... 48

Net profits of all insured commercial banks................................................ 49

Net current operating earnings of insured commercial banks not

members of the Federal Reserve System.................................................. 50

Net profits of insured commercial banks not members of the Federal

Reserve System............................................................................................... 51

Dividends.............................................................................................................. 52

Interest received and paid................................................................................ 52

Insured M utual Savings Ban k s........................................................................... 53

Assets and capital of insured mutual savings banks.................................. 53

Earnings, expenses, and disposition of profits of insured mutual savings

banks.................................................................................................................. 54

PAR T THREE 

RESEARCH REPORTS

Note___

P A R T FOUR

LEGISLATION , REGULATIONS, AND INSTRUCTIONS

Legislation................................................................................................... 61

R egulations and R ulings of the Corporation.............. 61

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Federal Reserve Bank of St. Louis
LIST OF TABLES vii

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

Page

Explanatory note.............................. ...... 65

N umber op banking offices............................................................... 68

Deposits of banking offices............................................................................. 96

Assets and liabilities of operating ban ks................................................... 106

C apital investm ent o f th e R econ stru ction Finance C orp oration . . 122

Exam iners' analysis of insured ban k s...... .......................... 124

E arnings o f insured com m ercial b a n k s___ 141

Suspensions, receiverships, and mergers. . 164

LIST OF TABLES 

PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

Insolvent Insured Banks Closed:

1. Deposits of insured banks placed in receivership as of December

31, 1937....................................................................................... 11

R epayments to the Corporation:

2. Payment of dividends on common claims of depositors by insured

banks placed in receivership through December 31, 1937........ 13

Unsafe and Unsound Banking Practices:

3. Disposition during 1937 of cases of insured banks cited to supervisory authorities for unsafe and unsound banking practices or 

violations of law or regulations.................................................. 18

4. Unsafe and unsound banking practices and violations of law and

regulations for which 25 insured banks were cited to supervisory 

authorities during 1937............................................................... 19

Other Actions of the Corporation:

5. Applications for admission to insurance acted upon by the Federal

Deposit Insurance Corporation during 1937.............................. 20

6. Applications to establish or relocate branches acted upon by the

Federal Deposit Insurance Corporation during 1937, insured 

banks not members of the Federal Reserve System................. 21

7. Applications for retirement or reduction of capital acted upon by

the Federal Deposit Insurance Corporation during 1937, insured 

banks not members of the Federal Reserve System................. 22

Organization and Staff:

8. Officers and employees of the Federal Deposit Insurance Corporation, December 31,1937...................................................... 25

Financial Statement of the Corporation:

9. Comparative balance sheet of the Federal Deposit Insurance

Corporation, December 31, 1937, and December 31, 1936....... 26

10. Analysis of surplus account and distribution of administrative 

expenses, Federal Deposit Insurance Corporation, calendar 

year 1937............................... ..................................................... 27

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v iii FEDERAL DEPOSIT INSURANCE CORPORATION

PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

Page

Commercial Banking Offices:

11. Number and type of operating commercial banking offices in the

United States and possessions, December 31, 1936, and December 31, 1937.......................................................................... 31

12. Analysis of changes in number of offices of operating commercial

banks in the United States and possessions during 1937......... 32

Participation by Commercial Banks in D eposit Insurance:

13. Number of operating insured and noninsured commercial banking

offices in the United States and possessions, December 31,1936, 

and December 31, 1937.............................................................. 33

14. Admissions to and terminations of insurance during 1937........... 33

15. Changes in deposits during 1937, operating insured and noninsured

commercial banks....................................................................... 34

Assets and Liabilities of Operating Commercial Banks:

16. Changes in assets and liabilities during 1937, operating insured

commercial banks....................................................................... 35

17. Percentage change in principal classes of assets, December 31,

1936, to December 31, 1937, operating insured commercial 

banks not members of the Federal Reserve System, grouped 

according to ratio of total capital account to total assets........ 36

18. Percentage distribution of assets and liabilities, 1920, 1929, and

1937, all operating commercial banks in the United States and 

possessions.................................................................................. 37

Appraisal of Assets of Insured Commercial Banks not Members of

the Federal Reserve System:

19. Appraised value of assets as percent of book value, examination

in 1937, operating insured commercial banks not members of 

the Federal Reserve System....................................................... 38

20. Distribution of operating insured commercial banks not members

of the Federal Reserve System according to percent of fixed and 

substandard assets, examination in 1937................................... 39

21. Appraised value of total assets as percent of book value, examinations 1933-1937, operating insured commercial banks not 

members of the Federal Reserve System................................... 39

22. Book value of securities, examination in 1937, operating insured

commercial banks not members of the Federal Reserve System 40

23. Distribution of operating insured commercial banks not members

of the Federal Reserve System according to percent of substandard securities, examination in 1937............................... 40

24. Book and market value of securities, examination in 1937, operating insured commercial banks not members of the Federal 

Reserve System.......................................................................... 41

25. Appraised value of loans as percent of book value, examinations

1934-1937, operating insured commercial banks not members of 

the Federal Reserve System...................................................... 41

26. Criticized loans, examination in 1937, operating insured commercial banks, by class of bank................................................ 42

Capital of Operating Insured Commercial Banks:

27. Analysis of changes in total capital account during 1937, operating

insured commercial banks.......................................................... 43

28. Net capital account per $100 of total deposits and of total capital

account, examination for admission to insurance in 1933 and 

early 1934 and examination in 1937, operating insured commercial banks not members of the Federal Reserve System, 

grouped by amount of deposits.................................................. 45

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29. Percentage distribution of number of banks according to net

capital account as percent of deposits, examinations 1933-1937, 

operating insured commercial banks not members of the Federal 

Reserve System.......................................................................... 46

Quality op M anagement of Operating Insured Commercial Banks not

Members op the Federal R eserve System:

30. Distribution of number and deposits of banks according to quality

of management, examination in 1937, operating insured 

commercial banks not members of the Federal Reserve System. 46

31. Percentage distribution of number of banks according to quality

of management, examination in 1937, operating insured commercial banks not members of the Federal Reserve System, 

grouped by amount of deposits.................................................. 47

Earnings op Operating Insured Commercial Banks:

32. Earnings, expenses, and disposition of profits related to total

assets and to total capital account, 1936 and 1937, operating 

insured commercial banks.......................................................... 48

33. Earnings, expenses, and disposition of profits of operating insured

commercial banks, 1934-1937..................................................... 49

34. Percentage distribution of number and deposits of banks according

to rate of net earnings, 1936 and 1937, insured commercial 

banks not members of the Federal Reserve System operating 

throughout entire year............................................................... 50

35. Earnings, expenses, and disposition of profits related to total

assets and to total capital account, 1937, insured commercial 

banks not members of the Federal Reserve System operating 

throughout entire year............................................................... 51

36. Distribution of number of banks according to rate of net profits,

1936 and 1937, insured commercial banks not members of the 

Federal Reserve System operating throughout entire year----- 52

37. Interest received on loans and on securities and interest paid on

time deposits, 1934-1937, insured commercial banks not members of the Federal Reserve System operating throughout 

entire year.................................................................................... 53

PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

N umber op Banking Offices:

101. Number and classification of operating banking offices, December

31, 1935, December 31, 1936, and December 31, 1937............. 68

102. Analysis of changes in number and classification of banks and

banking offices in the United States and possessions during 1937 70

103. Number of operating banking offices, December 31,1937, insured

and noninsured offices grouped by class of bank and type of 

office in each State and in the possessions................................. 73

104. Number of operating banking offices, December 31, 1937, insured

and noninsured offices grouped by class of bank, type of office, 

and amount of deposits.............................................................. 80

105. Number of operating banks, December 31, 1937, insured and

noninsured banks grouped by class of bank, type of bank, and 

amount of deposits..................................................................... 82

106. Number of operating commercial banks, December 31, 1937,

insured and noninsured banks grouped by amount of deposits 

in each State and in the possessions.......................................... 84

107. Number of operating mutual savings banks, December 31, 1937,

insured and noninsured banks grouped by amount of deposits 

in each State............................................................................... 88

108. Number of commercial banks operating branches and number of

branches in Continental United States, December 31, 1937, 

grouped according to character of branch system, location of 

branches, population of center in which located, and by State.. 90

LIST OF TABLES ix

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FEDERAL DEPOSIT INSURANCE CORPORATION

Page

109. Number of operating banking offices of insured commercial banks,

December 31, 1937, grouped by amount of deposits, type of 

office, and population of center in which located..................... 92

110. Number of operating banking offices of insured commercial banks,

December 31,1937, grouped according to number of commercial 

banking offices in center in which located, type of office, and 

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

Deposits op Banking Offices:

111. Average deposits of operating banks during 1937, insured and

noninsured banks grouped by class of bank, type of bank, and 

amount of deposits..................................................................... 96

112. Average deposits of operating banks during 1937, insured and

noninsured banks grouped by class of bank in each State and 

in the possessions........................................................................ 98

113. Average deposits of operating commercial banks during 1937,

insured and noninsured banks grouped by amount of deposits in 

each State and in the possessions.............................................. 100

114. Average deposits of operating mutual savings banks during 1937,

insured and noninsured banks grouped by amount of deposits 

in each State............................................................................... 104

Assets and Liabilities of Operating Banks:

115. Summary of assets and liabilities of operating commercial banks

in the United States and possessions, December 31, 1936, June

30, 1937, and December 31, 1937.............................................. 106

116. Summary of assets and liabilities of operating mutual savings

banks in the United States, December 31,1936, June 30, 1937, 

and December 31, 1937.............................................................. 107

117. Assets and liabilities of operating insured commercial banks, call

dates, June 30, 1934, to December 31, 1937.............................. 108

118. Assets and liabilities of operating insured commercial banks not

members of the Federal Reserve System, call dates, June 30,

1934, to December 31, 1937....................................................... 112

119. Assets and liabilities of operating insured commercial banks not

members of the Federal Reserve System, December 31, 1937, 

banks grouped by amount of deposits....................................... 116

120. Averages per bank of assets and liabilities of operating insured

commercial banks not members of the Federal Reserve System, 

December 31, 1937, banks grouped by amount of deposits... . 118

121. Percentage distribution of assets and liabilities of operating

insured commercial banks not members of the Federal Reserve 

System, December 31, 1937, banks grouped by amount of 

deposits....................................................................................... 120

Capital Investment of the Reconstruction Finance Corporation:

122. Capital investment of the Reconstruction Finance Corporation in

operating insured commercial banks, December 31, 1937, by 

class of bank in each State and possession................................ 122

123. Disbursements and retirements of Reconstruction Finance

Corporation capital of operating insured commercial banks 

not members of the Federal Reserve System during 1937, in 

each State and possession........................................................... 123

Examiners’ Analysis of I nsured Banks:

124. Capital ratios of operating insured commercial banks not members

of the Federal Reserve System, examinations October 1, 1933, 

to December 31,1937, banks grouped by amount of deposits and 

by State...................................................................................... 124

125. Examiners’ analysis of capital and liabilities of operating insured

commercial banks not members of the Federal Reserve System, 

latest examination in 1937, banks grouped by amount of 

deposits and by State................................................................. 126

126. Examiners’ analysis of assets of operating insured commercial

banks not members of the Federal Reserve System, latest 

examination in 1937, banks grouped by amount of deposits and 

by State..................................................................................... 128

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LIST OF TABLES xi

Page

127. Appraised value of assets as percent of book value of operating

insured commercial banks not members of the Federal Reserve 

System, latest examination in 1937, banks grouped by amount 

of deposits and by State............................................................. 132

128. Number and deposits of operating insured commercial banks not

members of the Federal Reserve System, latest examination in

1937, grouped by quality of management, net capital and 

substandard asset ratios, and rate of net earnings on total 

assets 136

129. Summary of examiners’ analysis of loans of operating insured

commercial banks not members of the Federal Reserve System, 

examinations 1934-1937, banks grouped by amount of deposits 

and by State............................................................................... 138

130. Book value of securities held by operating insured commercial

banks not members of the Federal Reserve System, latest 

examination in 1937, banks grouped by amount of deposits___ 140

Earnings of Insured Commercial Banks:

131. Earnings, expenses, and disposition of profits of operating

insured commercial banks, calendar year 1937, by class of bank 141

132. Earnings, expenses, and disposition of profits of operating insured

commercial banks, calendar years 1934-1937............................ 142

133. Ratios of earnings, expenses, and disposition of profits of operating

insured commercial banks, calendar years 1934-1937............... 143

134. Earnings, expenses, and disposition of profits of operating insured

commercial banks not members of the Federal Reserve System, 

calendar years 1934-1937............................................................ 144

135. Earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar 

year 1937, banks operating throughout entire year grouped by 

amount of deposits..................................................................... 146

136. Averages per bank of earnings, expenses, and disposition of profits

of insured commercial banks not members of the Federal Reserve System, calendar year 1937, banks operating throughout 

entire year grouped by amount of deposits............................... 148

137. Ratios of earnings, expenses, and disposition of profits of insured

commercial banks not members of the Federal Reserve System, 

calendar year 1937, banks operating throughout entire year 

grouped by amount of deposits.................................................. 150

138. Earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar 

year 1937, banks operating throughout entire year grouped 

according to population of center in which located.................... 152

139. Ratios of earnings, expenses, and disposition of profits of insured

commercial banks not members of the Federal Reserve System, 

calendar year 1937, banks operating throughout entire year 

grouped according to population of center in which located... 154

140. Earnings, expenses, and disposition of profits of insured commercial banks not members of the Federal Reserve System, calendar 

year 1937, banks operating throughout entire year grouped 

according to rate of net earnings on total assets....................... 156

141. Ratios of earnings, expenses, and disposition of profits of insured

commercial banks not members of the Federal Reserve System, 

calendar year 1937, banks operating throughout entire year 

grouped according to rate of net earnings on total assets......... 158

142. Net current operating earnings of insured commercial banks not

members of the Federal Reserve System, calendar year 1937, 

number of banks operating throughout entire year grouped 

according to rate of net earnings on total assets, amount of 

deposits, population of center in which located, and number 

of commercial banking offices in center in which located......... 160

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

Page

143. Net profits before dividends of insured commercial banks not

members of the Federal Reserve System, calendar year 1937, 

number of banks operating throughout entire year grouped 

according to rate of net profits on total assets, amount of deposits, population of center in which located, and number of 

commercial banking offices in center in which located............. 161

144. Net current operating earnings of insured commercial banks not

members of the Federal Reserve System, calendar year 1937, 

number of banks operating throughout entire year grouped 

according to rate of net earnings and net profits on total assets.. 162

145. Earnings, expenses, and disposition of profits of operating insured

mutual savings banks, calendar years 1935-1937...................... 163

Suspensions, R eceiverships, and M ergers:

146. Number and deposits of banks suspending operations, 1934-1937,

grouped by class of bank, by year, by amount of deposits, and 

by State....................................................................................... 164

147. Number and deposits of banks suspending operations, 1937,

grouped by class of bank, by amount of deposits, and by State.. 166

148. Number and deposits of insured banks merged with the aid of loans

from the Federal Deposit Insurance Corporation, 1935-1937, 

grouped by class of bank, by year, by amount of deposits, and 

by State....................................................................................... 168

149. Insured banks placed in receivership, 1937................................... 170

150. Assets of insured banks placed in receivership, 1934-1937, as

shown by books of bank at date of suspension......................... 172

151. Liabilities of insured banks placed in receivership, 1934-1937, as

shown by books of bank at date of suspension......................... 174

152. Deposits of insured banks placed in receivership, 1934-1937, as

shown by books of FDIC, December 31, 1937.......................... 176

153. Payments to depositors of insured banks placed in receivership,

1934-1937, as shown by books of FDIC, December 31,1937.... 178

154. Loans made to and assets purchased from insured banks by the

Federal Deposit Insurance Corporation, August 23, 1935, to 

December 31, 1937..................................................................... 180

LIST OF CHARTS

Organization chart of the Federal Deposit Insurance Corporation................. 8

Capital changes, 1934-1937, operating insured commercial banks not members 

of the Federal Reserve System, grouped by amount of deposits................... 44

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Federal Reserve Bank of St. Louis
INTRODUCTION AND SUMMARY

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
I ntroduction and Summary

The present report, the fourth Annual Report of the Federal Deposit 

Insurance Corporation, deals primarily with activities of the Corporation 

and with developments affecting deposit insurance during the year 

ending December 31,1937.

At the close of 1937 the Corporation was insuring deposits in 13,853 

banks. Daily average deposits of these banks amounted to more than 

$48 billion during the year, of which more than $21 billion were insured. 

The depositors in these banks numbered more than 50 million, of whom 

more than 98 percent were fully protected by insurance. In 12,854 

banks with deposits of not more than $5 million each, comprising 93 

percent of the insured commercial banks, nearly 80 percent of the $11 

billion of deposits were covered by insurance. The remaining 999 banks, 

with deposits of more than $5 million each, held more than $37 billion 

of deposits, of which about 33 percent were covered by insurance. Of 

these large banks, 490, each with deposits of more than $10 million, held 

more than two-thirds of the total deposits and about one-half of the 

insured deposits.

Further improvement in the banking situation occurred during 1937 

and the banks were in a position to meet without difficulty any strain 

resulting from the rapid decline in business activity and national income 

during the latter part of the year. The average quality of assets was 

higher in 1937 than in recent previous years and the capital position of 

the banks was well maintained. Earnings of the banks were greater 

than in any year since Federal insurance of deposits and, according to 

available data, compared favorably with earnings of other types of 

business enterprise. Some individual banks, chiefly those which had 

not been successfully rehabilitated after the banking crisis of 1933, 

continued to be in an unsatisfactory position.

During 1937 the Corporation continued its efforts to strengthen the 

banking system, improve banking practices, and clarify and develop 

supervisory policies and procedure. The Corporation’s examining 

policies have been framed with a view to obtaining an accurate picture 

of the condition of each bank, its management, and its prospects. The 

policies give due regard to the rights of all interested parties: depositors, 

stockholders, and borrowers. As in earlier years the Corporation urged 

the banks to make loans and purchase securities on a basis which would 

enable the banks to meet the needs of the communities they serve.

3

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

The Corporation conducted 7,822 examinations and reviewed approximately 6,500 examinations made by other Federal agencies. Except 

in the case of 31 examinations made in connection with specific matters 

involving joint jurisdiction or changes in jurisdiction, the Federal 

Deposit Insurance Corporation did not examine any bank examined 

by any other Federal bank examining agency. Action was taken 

against 39 insured banks for unsafe and unsound practices or violations 

of law. Six of these banks corrected their practices, 22 suspended or 

were absorbed by other banks, and 1 was dismissed from insurance. 

In 10 cases further action was still pending at the close of the year.

During the year the Corporation protected the funds of 130,000 

depositors in 75 insolvent banks either by paying them off or by making 

loans to facilitate the absorption of the banks by sound insured banks. 

Total deposits in these banks amounted to $33 million, of which 98 

percent were made available promptly to depositors. From the inauguration of deposit insurance to the close of 1937 the accounts of 

277,000 depositors in 178 insolvent banks have been protected in whole 

or in part through the activities of the Corporation. Deposits in these 

banks amounted to $76 million, of which 94 percent were fully protected.

Part One of the report deals with the operations and policies of the 

Corporation. Policies with regard to bank examinations, bank capital, 

bank loans, and other assets are discussed on pages 13 to 17. Part Two 

deals with banking developments of primary interest to deposit insurance. An appraisal of the quality of assets of insured commercial 

banks not members of the Federal Reserve System is presented on 

pages 38 to 42. The capital position of the banks is analyzed on 

pages 42 to 46 and their earnings record is discussed on pages 48 to 

53. Detailed statistics relating to banks and to deposit insurance are 

presented in Part Five.

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Federal Reserve Bank of St. Louis
PART ONE

OPERATIONS AND POLICIES OF THE CORPORATION

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
DIRECTORS

of the

FEDERAL DEPOSIT INSURANCE CORPORATION

L eo T . Crowley

Chairman

P hillips L ee Goldsborough

J. F. T. O’C onnor

Comptroller of the Currency

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Federal Reserve Bank of St. Louis
FEDERAL DEPOSIT INSURANCE CORPORATION

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Operations and Policies of the Corporation

On December 31,1937, the Federal Deposit Insurance Corporation 

was insuring deposits of 13,853 banks. These banks held total 

deposits of about $48 billion, of which more than $21 billion were 

estimated to have been protected by insurance. Depositors numbered more than 50 million, of whom 98 percent were fully protected.

During the year the Corporation’s activities continued to center 

upon its three major functions: (1) payment of insured deposits 

in suspended insured banks; (2) liquidation of insured banks placed 

in receivership; and (3) maintenance of a sound banking structure. 

The Corporation’s activities and policies are discussed in this part 

of the report.

Insolvent Insured Banks Closed

In 1937, as in preceding years, the banking system was strengthened 

by the elimination of a considerable number of insolvent or weak 

banks. Fifty-three insolvent insured banks, with deposits of $19 

million, suspended operations. Twenty-five insolvent banks, with 

deposits of $18 million, were absorbed by other insured banks with 

the aid of loans from the Federal Deposit Insurance Corporation. 

About 75 insured banks not members of the Federal Reserve System 

which were in a weakened condition, with deposits of approximately 

$28 million, were strengthened and merged with other insured banks 

without financial aid from the Corporation or went into voluntary 

liquidation. Practically all of these banks had been in financial 

difficulties in earlier years.

Since its inception the Federal Deposit Insurance Corporation 

has paid depositors in or made loans to 178 insolvent banks. Total 

deposits of these banks amounted to $76 million, of which 94 percent 

were estimated to have been protected against loss. Of the 277,236 

depositors in these banks, 276,609, or 99.8 percent, were fully protected against any loss.

Insolvent banks suspended. During 1937, 53 insolvent insured 

banks suspended of which 49 were placed in receivership during 1937 

and payments to insured depositors were made by the Corporation. 

One bank which suspended on the last day of the year was not placed 

in receivership until 1938. The other three banks were rehabilitated 

and either reopened or absorbed by operating insured banks. The 

Corporation also paid insured claims of depositors in one bank which 

went into voluntary liquidation without having made adequate 

provision for the payment of its depositors. The name, location, 

and amount of assets and liabilities of each bank are given in Tables 

149 to 152, pages 170 to 177.

Q

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

The deposits of the 50 banks placed in receivership or liquidation 

during the year amounted to approximately $15 million. Depositors 

in the banks numbered 73,507 of whom 73,320, or 99.7 percent, were 

fully protected by insurance, security, preferment, or offset. Of the 

deposits, 96 percent were protected by offset, preferment, pledge of 

security, or insurance, and 4 percent were represented only by general 

claims against the assets of the banks.

From the beginning of deposit insurance to December 31, 1937, 

the Corporation paid off depositors in 125 banks: 9 in 1934; 24 in 

1935; 42 in 1936; and 50 in 1937. Total deposits in these banks 

amounted to $37 million, of which $32 million, or 87.5 percent, were 

fully protected by insurance, offset, preferment, or pledge of security. 

All but one-half of 1 percent of the 162,354 depositors were protected 

in full. The proportion of deposits so protected has in general been 

higher in each successive year, averaging 78 percent in 1935, 84 percent in 1936, and 96 percent in 1937.

Deposits paid by the Corporation. Insured deposits have been 

paid as rapidly as depositors have presented and proved their claims. 

By the close of the year the Corporation had paid $11 million, or 

95 percent, of the insured deposits in the banks placed in receivership 

or liquidation during the year. The unpaid insured deposits consisted of the accounts of depositors who had failed to file claims or 

who had not established proof of their claims. More than one-half 

of the insured deposits remaining unpaid were in 16 banks which 

closed during the last quarter of the year.

Further payments amounting to $858,000 were made during the 

year to depositors of insured banks placed in receivership during 1934,

1935, and 1936. In these banks only 2 percent of the total insured 

deposits were unpaid at the close of 1937. In many instances the 

unpaid deposits were small and the Corporation was unable to locate 

the depositors. The figures regarding deposits of insured banks 

placed in receivership are given in Table 1.

Insolvent banks absorbed with aid of loans or purchase of 

assets by the Federal Deposit Insurance Corporation. Until 

July 1, 1938, the Corporation is authorized to make loans secured 

by the assets of insured banks or to purchase the assets of such banks 

provided: first, the action will reduce the risk or avert a threatened 

loss to the Corporation; and second, it will facilitate the absorption 

of an insolvent or weak bank by another insured bank. These 

powers enable the Corporation to eliminate insolvent banks with 

the minimum loss to itself and with the least disturbance to the 

communities in which they are located.

During 1937 the Corporation received numerous preliminary and 

informal applications for loans to facilitate mergers of insolvent or 

weak banks. The majority of these applications were rejected after 

investigation because it was not evident that loss to the Corporation 

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Federal Reserve Bank of St. Louis
INSOLVENT INSURED BANKS CLOSED 11

factory conditions. A number of banks whose informal applications 

were refused subsequently failed. The informal applications which 

were not refused were in most cases followed by formal applications 

and during the year the Corporation took action in the case of 34 

formal applications for loans to facilitate the assumption of deposit 

liabilities of insolvent banks by other banks. Of these cases, 24 applications were approved and the loans disbursed during the year, 8 

were approved but the loans not disbursed by the close of the year, 

1 was disapproved, and 1 was first approved but the approval 

rescinded when the bank failed to meet the conditions required. In 

1937 the Corporation disbursed one loan which had been approved 

in 1936.

Table 1. DEPOSITS OF INSURED BANKS PLACED IN RECEIVERSHIP 

as of December 31, 1937

(Amounts in thousands of dollars)

Total

Paid by 

Dec. 31, 

19371

Unpaid on 

Dec. 31, 

1937

Total—50 banks placed in receivership, 1937................. 14,508 12,622 1,886

Insured2.............................................................................. 11,983 11,336 647

Secured, preferred, and subject to offset8.......................... 1,929 1,233 696

Uninsured, unsecured, not preferred, and not subject to 

offset............................................................................... 596 53 543

Total—75 banks placed in receivership, 1934-1936........ 22,197 19,830 2,367

Insured*.............................................................................. 15,134 14,808 326

Secured, preferred, and subject to offset8.......................... 3,063 2,939 124

Uninsured, unsecured, not preferred, and not subject to 

offset............................................................................... 4,000 2,083 1,917

includes payments made both by the Federal Deposit Insurance Corporation and by receivers, 

includes all deposits to be paid by the Federal Deposit Insurance Corporation, 

includes all deposits subject to offset and those portions of secured deposits to be met by sale of 

security and of preferred deposits to be paid by the receiver.

NOTE: More detailed figures will be found in Tables 152-53, pages 176-79.

Of the 25 banks to which financial aid was given by the Corporation, 

20 were absorbed by operating insured banks and 5 by new banks 

with new managements organized in the same communities. The 

names of the merging and successor banks are given in Table 154 on 

page 180.

Deposits in the 25 banks totaled $18 million. Depositors numbered 

56,300, all of whom were afforded full protection by the consolidation 

agreements. Loans amounting to approximately $7 million were 

made to the 25 banks. In addition, assets amounting to approximately one-fourth million dollars were purchased from four of these banks.

Between August 23, 1935, the date of authorization of these loan 

powers, and December 31, 1937, 53 banks, with accounts numbering 

114,882 and total deposits amounting to $39 million, were absorbed 

by other operating or new insured banks with the aid of the Corporation. In 36 cases loans were made, in 1 case assets were purchased, 

and in 16 cases loans were made and assets also purchased. The

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

total amount of the loans and purchases in the 53 banks was $16.7 

million, of which $15.4 million were in the form of loans, and $1.3 

million in the form of purchase of assets.

Other mergers and liquidations of banks in a weakened 

position. In addition to insolvent banks merged with the financial 

aid of the Federal Deposit Insurance Corporation, a number of banks 

which were in financial difficulties, or which had had low earnings 

and for which prospects of profitable operations were poor, were 

merged with other banks. About 75 such banks not members of the 

Federal Reserve System were absorbed or succeeded by other banks 

or went into voluntary liquidation during the year. Corresponding 

information is not available for banks members of the Federal Reserve 

System which were merged without the financial aid of this Corporation or were succeeded by other member banks or were placed in 

voluntary liquidation.

R epaym ents to the C orporation

From January 1, 1934, to December 31, 1937, the Corporation 

advanced $43 million to make funds available immediately to depositors of insolvent banks. By the end of 1937, $15 million of this 

amount had been repaid to the Corporation, two-thirds from receiverships of suspended banks and one-third from collections on 

loans. The Corporation has collected from each source about onehalf of the amounts which it expects ultimately to recover.

Recoveries from banks in receivership. By December 31,1937, 

the Corporation had recovered approximately $10 million, or 39 percent, on the $26 million of depositors’ claims to which the Corporation 

was subrogated in the 125 insured banks in receivership. It is estimated that total recoveries by the Corporation will amount to about 

75 percent of insured deposits.

Of the 75 insured banks placed in receivership during 1934,1935, 

and 1936, 12 had by the close of 1937 paid dividends of 100 percent 

and 39 had paid dividends of 50 percent or more to creditors. No 

payments had been made by 11 banks. Relatively small payments 

were received from banks placed in receivership during 1937 because 

of the short period of time in which the banks had been in liquidation. 

In most cases the Corporation expects to receive substantial additional 

returns. More detailed figures are shown in Table 2.

The Corporation, as principal creditor through its subrogation to 

depositors’ claims, maintains close contact with the receivers of all 

suspended insured banks and assists in every way possible in prompt 

and efficient liquidation of these banks. At the close of the year the 

Corporation was acting as receiver or liquidating agent for 34 banks. 

Of these, 9 were national and 25 were State banks. The Corporation 

was appointed receiver for insured State banks in the following seven 

States: Louisiana, Mississippi, North Dakota, Ohio, Oklahoma,

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Federal Reserve Bank of St. Louis
MAINTENANCE OP A SOUND BANKING STRUCTURE 13

South Dakota, and West Virginia. In addition, it was acting as 

liquidating agent for one bank in Michigan which went into voluntary 

liquidation.

Recoveries on loans and assets purchased. By December 31, 

1937, the Corporation had recovered $5 million, or 30 percent, of the 

$17 million which it had advanced as loans to insolvent insured banks 

or had expended in the purchase of assets of these banks. Total 

recoveries are expected to amount to $10 million, or 62 percent, of the 

total expended. The assets which were acquired by purchase or 

accepted as collateral for loans were unacceptable to the absorbing 

bank because of their poor quality. The Corporation is able to 

dispose of these assets under the most favorable circumstances and 

to avoid much of the cost of receiverships. It is estimated that losses 

in these banks would have been greater had the banks been placed 

in receivership.

T able 2. PAYMENT OP DIVIDENDS ON COMMON CLAIMS OP DEPOSITORS BY 

I nsured Banks Placed in R eceivership through December 31, 1937

Number of banks placed 

in receivership during—

1937 1934-1936

All banks...................................................................................................... 50 75

Banks paying dividends of—

100 percent................................................................................................. 0 12

75 to 99 percent.......................................................................................... 1 16

50 to 74 percent.......................................................................................... 5 23

25 to 49 percent.......................................................................................... 6 6

1 to 24 percent........................................................................................... 0 7

0 percent..................................................................................................... 38 11

A total of $4 million had been recovered from the $10 million expended in aiding 28 banks during 1935 and 1936. Of this amount 

$2 million were collected in 1935 and 1936, and slightly less than 

$2 million in 1937. Of the loans made during 1937, $1 million had 

been repaid by the year’s close. Four loans made by the Corporation 

were repaid in full with interest.

M ainten an ce of a Sound Ban k in g Structure

One of the most important duties of the Corporation is that of 

assisting in the maintenance of a sound banking structure. The 

continuous and effective operation of the banks is essential to the 

proper functioning of the nation’s economy. Even with the existence 

of Federal insurance of deposits, the suspension of banks in large 

numbers would seriously interrupt and retard the flow of income in 

the country.

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

Banks operate chiefly with depositors’ funds. As a consequence, 

substantial risks in connection with the financing of American business 

have heretofore been borne unknowingly by the public who are depositors of banks. For most depositors the advent of Federal insurance has resulted in shifting the risk to the Federal Deposit Insurance 

Corporation.

A rate of assessment of one-twelfth of 1 percent per annum on total 

deposits of insured banks was established by Congress to provide funds 

to meet losses resulting from insolvencies among the insured banks. 

Evidence introduced at the time the legislation was under consideration revealed that the rate finally established was considerably lower 

than past experience indicated would be necessary. The low rate of 

assessment established is considered satisfactory on the assumptions 

that: (1) the banking system has been rehabilitated so that losses 

will be less in the future than in the past; (2) the administration of 

receiverships and liquidations of closed banks will be such that a 

better recovery record will result; (3) greater stability will result from 

the changes made in our financial structure; and (4) more adequate 

and more unified banking supervision will reduce the number of banks 

in a weak position or operating unsoundly. In order to further the 

achievement of such supervision the Corporation was given the power 

to examine or review examinations of all insured banks and to dismiss 

from insurance any bank which continued to engage in unsafe and 

unsound practices or violations of law.

The maintenance of a sound banking structure requires that, 

(a) the individual banks should be adequately capitalized; (b) they 

should not acquire or accumulate hazardous or substandard assets 

or extend credits involving excessive or undue concentration of risks; 

(c) they should be able to earn reasonable profits; and (d) their 

management should be competent and responsible. Permanent 

improvement in our banking system is dependent in large part upon 

improved quality of the management, policies, and practices of banks.

Bank examinations. The examination of individual banks is 

the Corporation’s chief instrument in ascertaining the soundness of 

the banks whose deposits it insures. The quality of the bank’s 

assets is evaluated and the bank’s net worth determined. The 

calibre of its management is appraised. Unsafe and unsound practices 

are brought to light, and, wherever possible, corrected. Information 

obtained from the examination forms the basis for Corporation policy 

and action.

During the year the Corporation conducted 7,822 examinations 

and reviewed approximately 6,500 examinations of about 4,500 

banks made by other Federal agencies. Except for 13 examinations 

in connection with applications for loans from this Corporation to 

facilitate mergers and 18 examinations in connection with proposed 

withdrawals of banks from membership in the Federal Reserve 

System, all of the examinations made by the Corporation were of 

banks not members of the Federal Reserve System. These banks

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MAINTENANCE OP A SOUND BANKING STRUCTURE 15

were not examined by any other Federal agency, except in a few 

special cases of loans and subscriptions to capital by the Reconstruction Finance Corporation. Of the examinations made by the Corporation, 7,619 were regular examinations of insured banks and 203 were 

examinations and investigations of banks applying for admission to 

insurance or special examinations in connection with the establishment 

or change of location of branches, unsafe and unsound practices, the 

extension of loans, or other purposes.

Examinations by the Corporation are made only once each year 

except in the case of banks which require special attention; 213 additional examinations of such banks were made during 1937.

Policy o f the Corporation regarding capital of banks. Adequate capital is one of the most important requisites for the maintenance of a sound bank. The Corporation believes that each bank 

should have a sound capital sufficient, having due regard for the 

quality and the character of the assets held, to give reasonable assurance of the maintenance of a margin of protection to depositors and 

other creditors. A minimum of 10 percent of total liabilities and, 

in addition, a sound capital sufficient to assure the proper discharge 

of other responsibilities and functions of the bank is used as a working 

rule in the consideration of cases coming before the Corporation for 

action.

As a general rule, the Corporation will not approve retirement of 

capital obligations of banks, repayment of contributions, or releases 

of guarantees in those cases in which the net capital account will fail 

to meet the minimum standard after completion of the action; and 

will not approve the chartering of banks, the admission of banks to 

insurance, or the establishment of branches by banks with a capital 

account that does not measure up to the minimum.1 The Corporation’s authority, however, extends only to insured State banks not 

members of the Federal Reserve System and does not apply to 

national banks nor to State banks members of the Federal Reserve 

System. The Corporation repeats its recommendation made last 

year that an insured bank contemplating the establishment of a 

branch should be required to make a showing to the Federal Deposit 

Insurance Corporation satisfying reasonable minimum capital requirements.

The Corporation believes that when an insured bank operates with 

too small a margin of capital it is in fact being subsidized in part by 

other banks through the deposit insurance plan and in part by depositors who are unknowingly taking an undue amount of the risks 

of the enterprise, with none of the returns which normally accrue to 

owners in the form of dividends and profits. The Corporation’s 

general attitude regarding the question of adequate capital for banks

*Net capital account is obtained by deducting from total capital account the book value of assets 

appraised by examiners as loss or doubtful and adding the determinable sound banking value of assets 

not shown on the books of the banks. Net capital account also represents the excess over liabilities of 

the appraised value of the bank’s assets.

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Federal Reserve Bank of St. Louis
is best expressed by the following quotation from its Annual Report

for the year ending December 81,1936:

“Although a large number of factors must be taken into consideration in 

determining the soundness of a bank and its risk to the Corporation it 

may be said that, in general, the lower the capital ratio the greater the 

risk to depositors and to the Corporation. The tendency of banks to operate with narrower capital cushions increases the risk of loss to the Corporation. The present assessment rate was established on the assumption that 

losses in the future would be smaller than in the past. Unless the declining trend in the ratio of bank capital to liabilities is reversed losses may 

not be reduced, in which case either the assessment rate will have to be 

raised or fundamental changes will have to be effected in our system of 

banking.”

Quality of assets. The quality of the assets of a bank is of equal 

importance to adequacy of capital. When a bank’s assets deteriorate 

and become frozen it can no longer operate and must close its doors. 

The losses which dissipate capital result primarily from assets of low 

quality.

Quality is a matter of individual judgment made in the light of 

detailed knowledge. The excellence of the judgments made depends in the final analysis upon the calibre of the bank’s management. 

There are no set rules which can be established in this regard. Certain 

general principles, however, are advocated by the Corporation and 

are endorsed by most bankers. A bank should maintain a balance 

among different types of assets in accordance with the demands which 

it may expect to meet. A bank should not purchase securities or 

make loans involving excessive risk of loss. Investment in bank 

premises and equipment should bear a reasonable relation to the needs 

of the business. Holdings of other real estate should be kept at a 

minimum and when taken over in satisfaction of a debt should be 

disposed of at the earliest favorable opportunity.

Policy regarding bank loans. Examiners of the Corporation 

are instructed not to criticize an individual loan on the basis of the 

time of its probable repayment but solely on the basis of the probable 

ability of the debtor to keep his obligation current and sound. Examiners are instructed to criticize a loan because of lack of credit 

information regarding the borrower, because the loan is made for 

speculative purposes involving undue risk of loss, because the loan 

represents an over-extension of credit or undue concentration for the 

bank in a single line, because the loan involves improper assumption 

of management risks by the bank, or because the loan is illegal. 

Examiners are also instructed to criticize any loan upon which a loss 

appears probable and any loan in which a loss has actually been 

sustained by the bank but not charged off. Instructions are given 

to comment also upon an undue concentration of loans by types and 

maturities tending to produce a lack of balance among the assets of 

the bank.

Policy regarding securities. Individual banks should establish 

investment programs which apply the principle of diversification to 

the total assets of the bank rather than to the securities account alone.

16 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
UNSAFE AND UNSOUND BANKING PRACTICES 17

If a considerable portion of the loans are subject to particular hazards 

the bond portfolio should avoid these risks. A proper maturity 

schedule depends both upon the quality and maturities of the loans 

and discounts and upon the character of the liabilities. Only high 

grade bonds should be purchased. They should be purchased for 

investment with the expectation of holding them to maturity. Securities should not be purchased with the intention of selling at a profit. 

Developments in the securities market during 1937 have demonstrated the soundness of the Corporation’s opposition to trading which 

was expressed in the Corporation’s Annual Report for the year ending

December 81,1936, as follows:

“ The banks constitute one of the most important groups of investors in 

the bond market. As a group they cannot get in and out of the investment market without completely disrupting that market. As a consequence they cannot speculate in securities without undermining the soundness of the financial structure of the entire country.”

A bank which buys for investment only will have a minimum number of transactions on which profit or loss will result and on which to 

pay costs. Profits from transactions in securities should not be used 

for dividends. Such profits should be placed in a special valuation 

account to be used to offset losses. Premiums on bonds should be 

written off promptly or amortized out of income. Securities carrying 

a high degree of risk of default should not be purchased and a bank 

which holds such securities should establish reserves against possible 

loss from default. A bank which adheres to the policy outlined above 

need not be concerned about price fluctuations on high grade bonds 

held for investment.

Holding com p an y banking. The two chief means of attaining 

multiple office banking at the present time are: (1) branch banking, 

and (2) group or holding company banking. Branch banking is, 

under present law, restricted to State lines and each State can decide 

upon the kind of branch banking, if any, which it desires. By means 

of the holding company device, however, one banking interest can 

operate offices in as many States as it desires and to any extent within 

States.

The holding company device facilitates self-dealing and concentration of lines of credit to related interests beyond the limits contemplated by law. The development of large banking organizations 

extending over many States and possibly over the entire nation 

involves a concentration of risk through the hazard of failure of important groups. Difficulties of examination and supervision multiply 

with the growth of banking organizations controlled by single interests.

Un safe and U nsound B an kin g P ractices

Action on unsafe and unsound practices and violations of 

law or regulations. The Federal Deposit Insurance Corporation 

is authorized to terminate the insured status of any bank which continues to engage in unsafe and unsound practices or in violations of 

law or regulations. The procedure followed in these cases, as specified

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

in the deposit insurance law and as developed in practice, is as follows: 

(1) the proper bank supervisory authority (the Comptroller of the 

Currency in the case of a national bank, or of any other bank in the 

District of Columbia, the State banking authority in the case of a 

State bank, and the Board of Governors of the Federal Reserve 

System in the case of a State bank member of that system) is notified 

of the existence of such practices or violations; (2) the bank is allowed 

120 days, or such shorter period as may be specified by the appropriate 

supervisory authority, in which to correct the practices or violations 

in question; (3) after the close of the period specified the bank is 

reexamined to determine the extent to which the practices or violations have been corrected; (4) if the practices or violations have not 

been corrected the bank is notified of the intention of the Corporation 

to terminate its insured status after 30 or more days and a time and 

place for a hearing is designated; (5) a hearing is held by the Board 

of Directors of the Corporation, or by a designated representative, 

at which the bank may appear, to consider the evidence; (6) if the 

evidence shows that the practices or violations exist and are continuing, the bank may be given a final opportunity to make the necessary 

corrections and, unless such corrections are made, an order is issued 

terminating the insured status of the bank.

Table 3. D isposition D uring 1937 op Cases of I nsured B anks Cited to

Supervisory A uthorities for Unsafe and Unsound Banking

Practices or V iolations of L aw or R egulations

Number of

Total..................................................................................................................................... 39

Banks dted during 19371................................................................................................... 25

Banks dted during 1936, further action still pending on January 1, 19372.................... 14

Status on December 31, 1937:

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

Insurance of bank terminated for failure to make corrections.......................................... 1

Banks suspended................................................................................................................ 16

Banks absorbed by other banks........................................................................................ 6

120-day correction period expired:

Banks notified of intention to terminate insured status and date set for hearing........ 3

Hearing held, corrections agreed to by bank, awaiting results of reexamination to

determine whether corrections have been made......................................................... 1

Hearing held and charges sustained3.............................................................................. 1

Further action deferred pending consummation of plans for merger............................ 2

Action otherwise deferred.............................................................................................. 2

120-day correction period not yet expired......................................................................... 1

includes 2 banks originally cited in 1936 but against which action was deferred and new citations 

issued in 1937.

*For the status of these cases on December 31, 1936, see the Annual Report for 1936, Table 4, 

p. 17. Excludes the 2 banks mentioned in footnote 1.

3The insured status of this bank was terminated by the Corporation January 19, 1938, effective 

April 1, 1938.

During 1937 the Corporation took action on 39 insured banks.

Of these, 14 were banks which had been cited for unsafe and unsound 

practices in 1936 and 25 were cited in 1937. By the close of 1937,

6 banks had corrected their practices, 16 had suspended operations 

and 6 had been absorbed by other banks. In 9 cases the 120-day 

period had expired and further action by the Corporation was pending, 

while in 1 case the 120-day waiting period had not expired. The 

insurance of one bank was terminated. Further details regarding 

these cases will be found in Table 3.

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UNSAFE AND UNSOUND BANKING PRACTICES 19

Character of unsafe and unsound practices and violations 

of law or regulations leading to Corporation action. Most of 

the banks cited for unsafe and unsound practices or violations of law 

or regulations had engaged not merely in one but in many such 

practices or violations. Of the 25 banks cited for such practices or 

violations during 1937, 22 were without sufficient net invested capital. 

Most of the banks were charged with lax loan and collection policies 

of various types, including excessive credit to officers or directors and 

their interest and affiliations, abnormal volume of substandard loans 

or securities, habitual carrying of overdrafts, and an abnormal volume 

of past due loans. A large proportion of the banks had also failed to 

secure and maintain adequate financial statements and credit data in 

support of loans or renewals, and a large proportion had retained on 

their books as assets loans and investments which should have been 

charged off. More than half of the 25 banks had violated the legal 

limitations upon the amount or character of loans and investments. 

More than half of them were operated by incompetent or hazardous 

officials.

A detailed list of the unsafe and unsound practices and violations 

of law or regulations for which banks were reported to supervisory 

authorities will be found in Table 4.

Table 4. UNSAFE AND UNSOUND BANKING PRACTICES AND VIOLATIONS OF

Law and R eg u la tion s f o r w hich 25 Insured Banks w e r e C ited t o 

Supervisory A u th orities D urin g 1937

Number 

of banks 

dted

Capital:

Operation with impaired capital.............................................................. 18

Operation of bank though insolvent.................................................................. 2

Operation without sufficient net capital account................................................... 2

Loans and investments:

Lax credit and collection policies....................................................................................... 18

Failure to maintain an adequate credit file in support of loans........................................ 16

Abnormal volume of substandard loans or securities........................................................ 14

Abnormal volume of past due loans................................................................................... 11

Failure to support real estate loans with appraisals, abstracts, and attorney’s opinions. .. 8

Excessive credit to officers or directors and their interests and affiliates......................... 8

Excessive credit to other favored borrowers or habitual overdrafts................................. 7

Lax investment policies.................................................................................................... 5

Management:

Hazardous, untrustworthy, and incompetent management......... 13

Failure of directors to manage banks properly........................... 2

Bookkeeping and general records:

Inclusion of losses in bank’s assets....... 15

Violations of law and regulations:

Making and carrying of loans in excess of legal limits...................................................... 11

Continued violation of State banking laws........................................................................ 8

Continued violation of Regulation IV of the Federal Deposit Insurance Corporation or 

Regulation Q of the Federal Reserve System regarding payment of interest and repayment of time deposits............................................................................................... 5

Holding of real estate for longer period than permitted by law (U. S. R. S. Sec. 5137)---- 3

Payment of dividends in violation of State law................................................................ 2

Failure to bond officers as required by law........................................................................ 2

Extension of credit to or on security of obligations of affiliates....................................... 1

Violation of Regulation U of the Federal Reserve System regarding loans for purchase of

stock............................................................................................................................... 1

Loans on own stock............................................................................................................ 1

Engaging in activities beyond powers granted by charter................................................

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

Other A ctions op the Corporation

Admissions to and terminations of insurance. During 1937, 

28 banks which received national charters from the Comptroller of 

the Currency and 7 State banks which were admitted to the Federal 

Reserve System were automatically admitted to insurance.' Of these 

banks, 23 were successors to other insured banks and one was a trust 

company engaged in commercial banking.

In addition to passing informally on preliminary applications the 

Corporation acted upon 133 formal applications from banks for 

admission to insurance as State banks not members of the Federal 

Reserve System. Of these applications, 119 were approved and 14 

disapproved. In five of the cases given approval this action was later 

rescinded, because of failure of the banks to meet conditions of 

approval, or because of the abandonment of plans for the opening or 

reorganization of the bank concerned. The insured status of one 

insured bank was terminated by the Corporation because of the 

continuance of unsafe and unsound banking practices.

Table 5. A pplications f o r Admission t o Insurance A cted Upon b y th e 

F e d e ra l D eposit Insurance C orp oration D u rin g 1937

Total

Banks 

operating but 

not insured 

Jan. 1, 

1987»

Banks 

opened or 

opening 

contemplated3

Insured banks 

reorganizing 

under new 

charters or 

withdrawing 

from F. R.

System

Total applications acted upon......................... 133 37 58 38

Approved:

Insurance effective in 1937............................. 99 29 *37 33

Insurance not effective in 1937...................... 15 6 6 3

Approval rescinded......................................... 5 3 2

Disapproved:

Banks continued in operation or opened 

without insurance....................................... 2 1 1

Banks closed or plans of organization abandoned or delayed........................................ 12 1 11

includes proposed successors to and consolidations of operating noninsured banks, and proposed 

reorganizations and replacements of restricted banks.

includes 2 cases where first application was disapproved and reapplication approved.

*1 of these banks was admitted to the Federal Reserve System at time of opening.

Table 5 shows the number of applications for insurance acted upon 

during the year, the disposition of those applications, and the status 

as of the close of the year of institutions involved. An analysis of 

admissions to and terminations of insurance is contained in Part Two 

of this report on pages 33 and 34.

*Under provisions of existing law approval of the Federal Deposit Insurance Corporation is not 

required in such cases.

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Federal Reserve Bank of St. Louis
OTHER ACTIONS OP THE CORPORATION 21

Establishment of branches or additional offices. During 

1937 the Federal Deposit Insurance Corporation approved 91 applications from banks not members of the Federal Reserve System to 

establish or relocate branches, and 1 application of a bank to extend 

full banking powers to a teller’s window. Five applications were 

disapproved or held for consideration. Under existing law, approval 

of the Corporation is not required for the establishment of branches 

by national banks and State banks members of the Federal Reserve 

System.

More than half of the applications acted upon were for the establishment of additional or new banking offices, that is, branches in 

places where no banking offices previously existed or which increased 

the number of offices in the centers in which they were to be located. 

The majority of the new offices approved were restricted solely to 

accepting and paying deposits. The remaining applications were 

largely for conversion of unit banks into branches.

Further details regarding the action of the Corporation on applications to establish or relocate branches are given in Table 6.

T able 6. APPLICATIONS TO ESTABLISH OR RELOCATE BRANCHES ACTED UPON BY

th e F e d eral D eposit I n surance C orporation

D u rin g 1937

INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

Approved

Total Opened or 

relocated 

by Dec. 31, 

1937

Not opened 

or relocated 

by Dec. 31, 

1937

Disapproved1

Total applications.............................................. 97 74 18 5

To establish additional hanking offices............. 51 38 9 4

To convert banks into branches........................ 34 25 8

To continue operation or change location of 

branches in operation..................................... 11 10 1

To extend full banking powers to branch 

formerly operated as teller's window............. 1 1

*In addition numerous informal inquiries were submitted to agents of the Corporation.

Size o f centers in which the establishment of additional 

banking offices was approved by the Corporation. Counting 

both banks admitted to insurance and new branches, the Federal 

Deposit Insurance Corporation approved the opening of 90 new 

banking offices by banks not members of the Federal Reserve System. 

Of these, 59 were in centers which had no other banking office, and 

17 were in centers with only one other banking office. Of the total 

number, 68 were in centers having a population of under 10,000.

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

Changes in capital of banks. During 1937 the Corporation took 

action on nearly 2,300 formal applications from insured commercial 

banks not members of the Federal Reserve System for retirement or 

reduction of capital.1 Approximately 2,100 applications, involving 

$18.5 million, were approved and 157 applications, involving $1 

million, were disapproved. In addition to these formal applications 

the Corporation received and passed on a large number of inquiries 

or informal requests for opinions regarding proposed changes in capital 

account.

Most of the formal applications acted upon by the Corporation 

were for the retirement of capital obligations held by the Reconstruction Finance Corporation. Most of these retirements were 

made for the purpose of enabling the banks to qualify for the reduced 

rate of interest or dividends on preferred capital offered by the 

Reconstruction Finance Corporation to those banks which agreed to 

accelerate the contractual retirement of such capital. In some weak 

banks the applications provided for the reduction in the par value of 

capital stock outstanding in order to permit the writing off of losses.

Table 7. Applications for R etirement or Reduction of Capital A cted

Upon by the Federal Deposit I nsurance Corporation D uring 1937

INSURED BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM

Number of retirements 

or reductions1

Amount of retirement 

or reduction

Approved Disapproved Approved Disapproved

Total.............................................................. 2,121 157 $18,501,327 $1,068,089

Capital obligations held by R. F. C........... 2,041 152 15,fill,892 813,989

Preferred capital obligations held by others 32 5 911,535 254,100

Common stock............................................ 48 1,977,900

dumber of banks is less than number of retirements and reductions as some banks applied to 

retire more than one clas3 of capital obligations and some banks applied more than once during the year.

NOTE: Figures of actual retirements during 1937 of capital obligations held by R. F. C. will be 

found in Table 123, page 123.

Table 7 shows the number of applications for retirement or reduction of capital acted upon by the Corporation during 1937 and the 

amounts involved in such applications. The amount of' retirements 

of Reconstruction Finance Corporation holdings of preferred capital 

of banks not members of the Federal Reserve System appears in 

Table 123, page 123.

Release of restricted deposits. The approval of the Corporation 

is necessary for the release of deposits which have been restricted as to 

payment since the Banking Holiday of 1933. During 1937 the

Applications for the retirement or reduction of capital are submitted for approval to the Comptroller 

of the Currency by national banks, and to the Board of Governors of the Federal Reserve System by 

State banks members of the Federal Reserve System. Applications of all State banks are also submitted 

to the appropriate State authorities.

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REPORTS, REGULATIONS, AND RULINGS 23

Corporation approved the applications of five insured banks to 

release $90,500 of restricted deposits. Two applications involving 

$19,800 were disapproved.

Assumption of deposits in noninsured banks. Any assumption by an insured bank of the deposits of a noninsured bank requires 

the approval of the Corporation. During 1937 the Corporation 

approved 13 such applications.

Changes in location of insured banks. During 1937 the 

Corporation approved changes in the location of 14 insured banks 

not members of the Federal Reserve System. One of these changes 

was not made.

R eports prom Banks

Reports o f assets and liabilities and of earnings. The 

Corporation called for reports of assets and liabilities as of June 30, 

1937, and December 31, 1937, from each insured bank not a member 

of the Federal Reserve System except those banks in the District of 

Columbia and in the possessions which report to the Comptroller of 

the Currency. The Corporation also called upon the same banks 

for reports of earnings, expenses, and disposition of profits for the 

year ending December 31, 1937. As of December 31, 1937, each 

insured bank not a member of the Federal Reserve System which 

operated a branch was requested to report the name and location 

and the amount of deposits of each branch. The forms and instructions used in making these calls were similar to those used in 1936.

Summaries of semi-annual reports of assets and liabilities of all 

insured commercial banks are published in pamphlet form. Analysis 

of the assets and liabilities and of the earnings, expenses, and disposition of profits of insured banks will be found in Part Two of this 

report.

R egulations and R ulings of the C orporation

No regulations regarding insured banks were issued by the Corporation during 1937. Regulation IV relating to the payment of interest 

on deposits was amended on February 10, 1937, to be effective the 

following day by the elimination of subsection (f) of section 1 and the 

addition to subsection (a) of section 2 of the following sentence:

“Within this regulation any payment to or for the account of any 

depositor as compensation for the use of funds constituting a deposit 

shall be considered interest.” The latter amendment was only a 

formal change and did not affect the substance or meaning of the 

regulation as it had previously existed. The amended regulation 

was published in the Annual Report of the Federal Deposit Insurance

Corporation for the year ending December 31, 1936, on pages 86 to 91.

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

Legislation A ffecting D eposit Insurance

Federal legislation. No amendments to the deposit insurance 

law, or other legislation specifically affecting the Federal Deposit 

Insurance Corporation, were enacted in 1937.

State legislation. State legislation affecting deposit insurance 

enacted during 1937 was confined primarily to the elimination of 

double liability of stockholders of State banks. Approximately onethird of the States took action to eliminate such liability. At the end 

of the year double liability with regard to stockholders of State banks 

remained in only nine States. In the remaining States such liability 

had been entirely or partially eliminated.

A few States also took action during 1937 to permit the appointment 

of the Federal Deposit Insurance Corporation as receiver, or as an 

assisting agency in the liquidation of suspended insured State banks. 

At the close of 1937 the appointment of the Corporation as receiver 

for suspended insured State banks was possible in 31 States. In

7 other States the State banking authorities may appoint the Corporation to assist in the liquidation of closed banks.

Organization and Staff

Directors. No changes in the directorship of the Corporation 

occurred during 1937.

Personnel. The personnel increased by 58 during 1937 and at 

the close of the year consisted of 859 officers and employees, of whom 

328 were located in the main office in Washington and 531 in the field 

and at the regional offices. In addition, 61 persons were employed 

temporarily in connection with the liquidation of loans and of suspended insured banks. The increase in personnel during the year 

was chiefly in the Division of Liquidation and in the Administrative 

and Service Division and arose from an expansion in the work of the 

Corporation in connection with the payment of insured claims and 

with the liquidation of loans and of suspended insured banks. The 

number, by divisions, of officers and employees of the Federal Deposit 

Insurance Corporation at the end of 1937 is given in Table 8.

Financial Statement of the Corporation

Legal authority for disbursement of funds. Paragraph (1) of 

subsection (k), section 12B of the Federal Reserve Act, as amended, 

provides in part that “the Board of Directors of the Corporation shall 

determine and prescribe the manner in which its obligations shall be 

incurred and its expenses allowed and paid” . The Board of Directors, 

subject to the review of the Bureau of the Budget, as provided for by

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FINANCIAL STATEMENT OF THE CORPORATION 25

executive order No. 7150, dated August 19, 1935, continued during 

1937 to receive and disburse its funds in accordance with the provisions of law.

Congress has imposed upon the Corporation the duty of paying as 

promptly as possible the insured deposits in any insured bank which 

ceases operations without having made adequate provision for the 

payment of its depositors. It is impossible for the Corporation to 

anticipate the demands which may be made upon it from time to time. 

A simplified procedure has been worked out which has made it possible 

to commence payment to insured depositors in most cases within ten 

days of the beginning of the receivership. The bulk of the payments 

have been made within the course of a few days. The procedure 

followed adequately protects the interests of the Corporation.

Table 8. Officers and E mployees of th e F ederal D eposit I nsurance

C orporation, D ecem ber 31, 1937

Clerical,

stenographic,

and

custodial

employees

Total.

Washington office.

Directors and aides...........................

Office of the Secretary.......................

Administrative and Service Division.

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

Division of Liquidation1....................

Division of Public Relations.............

Legal Division...................................

Division of Research and Statistics. .

District Offices.................

Division of Examination.

859 500

328 108

9 5

10 1

121 18

47 23

79 39

3 3

14 6

45 13

531 392

531 392

359

220

4

9

103

24

40

0

8

32

139

139

Excludes 61 persons employed temporarily in connection with the liquidation of loans and of 

suspended insured banks.

Assets and liabilities and distribution of expenses. Condensed balance sheets of the Corporation as of December 31, 1936, 

and December 31,1937, are given in Table 9. An analysis of surplus 

for the year 1937 and a statement of distribution of administrative 

expenses are given in Table 10.

Income and expenses. The total income of the Corporation 

during 1937 amounted to $48.1 million, of which $38.8 million were 

received from assessments on insured banks and $9.3 million from 

investments. Total expenses and losses during the year amounted 

to $8.3 million. Losses and expenses to the Corporation in paying 

depositors of suspended banks and in aiding the merger of insolvent 

banks amounted to $5.6 million and administrative expenses to 

$2.7 million.

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

Table 9. COMPARATIVE BALANCE SHEET OF THE FEDERAL DEPOSIT INSURANCE

C orporation, D ecem ber 31, 1937, and D ecem ber 31, 1936

Dec. 31, 1937

ASSETS

Cash on hand and on deposit.

United States Government Securities—(cost less reserve for 

amortization of premiums) and accrued interest receivable..

Assets acquired through bank suspensions and mergers: 

Subrogated claims of depositors against closed insured banks... 

Net balances of depositors in closed insured banks pending 

settlement or not claimed, to be subrogated when paid—contra

Loans to merging banks to avert deposit insurance losses.........

Assets purchased from merging banks to avert deposit insurance

Less: Reserve for losses.

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

Deferred charges and miscellaneous assets.

Total assets.. .

LIABILITIES

Current liabilities:

Accounts and assessment rebates payable.............................

Net balances of depositors in closed insured banks pending 

settlement or not claimed—contra.....................................

Unused credits for assessments paid to temporary Federal 

Deposit Insurance funds and prepaid assessments..

Reserve for administrative and deposit insurance expenses. 

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

CAPITAL

Capita] stock:

United States...............

Federal Reserve banks.

Surplus—(See Table 10).......................

Total capital..........................

Total liabilities and capital.

$ 20,634,573.44

$348,485,505.78

$ 16,042,560.42

1,579,872.94

10,700,338.81

1,230,325.55 

$ 29,553,097.72 

13,399,119.88 

$ 16,153,977.84

$ 1.00 

$ 66,088.80

$385,340,146.86

$ 61,198.89 

1,579,872.94

444,280.07

105,746.50

$ 2,191,098.40

$150,000,000.00

139,299,556.99

$289,299,556.99

93,849,491.47

$383,149,048.46

$385,340,146.86

Dec. 31, 1936

$ 9,089,127.20 

$332,642,349.08

$ 10,410,968.67

1,261,435.84

6,406,006.52

1,020,740.35 

$ 19,099,151.38 

7,707,929.23 

$ 11,391,222.15

$ 1.00 

$ 48,905.91

$353,171,605.34

$ 76,623.72 

1,261,435.84

8,360,441.69

68,223.32

$ 9,766,724.57

$150,000,000.00

139,299,556.99

$289,299,556.99

54,105,323.78

$343,404,880.77

$353,171,605.34

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Federal Reserve Bank of St. Louis
FINANCIAL STATEMENT OF THE CORPORATION 27

Table 10. ANALYSIS OF SURPLUS ACCOUNT AND DISTRIBUTION OF ADMINISTRATIVE

E xpen se s, F ederal D eposit I nsurance C o rporation, Calen dar Y ea r 1937

ANALYSIS OF SURPLUS

Balance December 31, 1936.................................................................. $54,105,323.78

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

1937................................................................................................... 84,093.48

Balance as adjusted December 31, 1936= $54,021,230.30

Surplus for the year ending December 31, 1937:

Additions:

Deposit insurance assessments....................... $ 38,813,549.39

Interest earned and profit on sales of securities—(less provision for amortization

of premiums)............................................... 9,334,858.64 $ 48,148,408.03

Deductions:

Deposit insurance losses and expenses........... $ 5,614,712.84

Administrative expenses................................. 2,651,865.71

Furniture, fixtures and equipment purchased 

and charged off........................................... 53,568.31 8,320,146.86 39,828,261.17

Balance December 31, 1937___ ... $ 93,849,491.47

DISTRIBUTION OF ADMINISTRATIVE EXPENSES

Salaries.............................................................................................................................. $ 1,946,259.80

Professional services......................................................................................................... 4,247.83

Services of other governmental agencies.......................................................................... 45.00

Transportation.................................................................................................................. 99,463.91

Subsistence........................................................................................................................ 388,744.00

Office rental...................................................................................................................... 124,520.61

Printing, stationery and supplies..................................................................................... 59,250.16

Postage, telephone and telegraph..................................................................................... 31,296.88

Advertising and notices.................................................................................................... 683.88

Fidelity bond premiums................................................................................................... 4,850.54

Subscriptions.................................................................................................................... 2,662.95

Equipment rental.............................................................................................................. 1,747.08

Repairs and alterations..................................................................................................... 7,538.47

Transportation of things.................................................................................................. 3,812.21

Miscellaneous.................................................................................................................... 3,741.84

Provision for undetermined expenses.............................................................................. 1,822.34

$ 2,680,687.50

Miscellaneous income applicable to reduction of administrative 

expenses........................................................................................ $ 14,040.71

Inter-departmental expense transfers............................................ 14,781.08 $ 28,821.79

Administrative expenses for the year ending December 31, 

1937................................................................................................. $ 2,651,865.71

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

Assessments. Assessments on insured banks are levied semiannually, in January and July, at an annual rate of one-twelfth of 

1 percent computed on the basis of certified statements of deposits 

submitted by the banks. Total income from assessments amounted 

to $38.8 million in 1937, compared with $35.6 million in 1936. The 

increase reflected a higher average volume of deposits during the 

later year. Approximately $30.8 million of the assessments levied 

in 1937 were received in cash and approximately $8 million were 

covered by assessments collected under the temporary deposit insurance plan and credited to the accounts of the banks under the 

permanent plan. Approximately $0.4 million of such credits still 

remained at the close of the year to be applied to future assessments.

Income from investments. Holdings of United States Government securities by the Corporation averaged higher in 1937 than in

1936. Interest received on and profits from the sale of United States 

Government securities, less allowances for amortization of purchase 

premiums, amounted to $9.3 million in 1937, compared with $8.2 

million in 1936.

Operating expenses. Administrative expenses of the Corporation 

amounted to $2.7 million in 1937, compared with $2.5 million in 1936. 

These expenses were less than one-third of the income of the Corporation from its investments in United States Government securities. 

The cost of examining banks not members of the Federal Reserve 

System was a large part of the administrative expense. Deposit 

insurance losses and expenses amounted to $5.6 million in 1937, 

compared with $4 million in 1936. This item represents the estimated 

loss and expense to the Corporation incurred in paying off the depositors in banks which closed during the year and in making loans 

to and purchasing assets from insolvent banks.

At the close of 1937 the Corporation held subrogated claims of 

depositors against closed insured banks, loans to merging banks made 

to avert losses, and other assets acquired through bank suspensions 

and mergers, amounting at face value to a total of $29.6 million. 

These assets were carried on the books of the Corporation at $16.2 

million, the balance, $13.4 million, being represented by a reserve 

for losses set up by charges to expenses.

Reports to insured banks. During 1937 the Corporation issued 

a report summarizing briefly its operations and its income and expenses from the inauguration of the permanent insurance plan to 

June 30, 1937. A similar report for the period from June 30 to the 

end of the year has also been published.

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Federal Reserve Bank of St. Louis
PART TWO

DEPOSIT INSURANCE AND BANKING DEVELOPMENTS

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DEPOSIT INSURANCE AND BANKING DEVELOPMENTS 31

Summ ary op B a n k in g D evelopm ents

The continuous improvement in the banking system which has been 

taking place since the banking holiday of 1933 put the banks in a 

position to meet without difficulty any strain resulting from the rapid 

decline in business activity and in national income during the latter 

part of 1937. The quality of the assets was higher and the amount 

of invested capital greater than in earlier years. Total assets were 

appraised at approximately the value at which they were carried on 

the banks’ books and the proportion subject to criticism was smaller 

than in any other recent year. The increase in capital in 1937 was 

proportionately less than the increase in the average level of deposits 

and the ratio of net capital account to deposits averaged slightly 

lower in 1937 than in 1936. Net earnings of the banks were higher 

than in any year since Federal insurance of deposits.

Although the banks as a whole were probably in a sounder condition than at any other comparable time during the post-war period, 

some individual banks were in difficulty. They were chiefly banks 

which had not been successfully rehabilitated after the banking 

crisis of 1933. Their managements were unsatisfactory or poor, 

their capital position was weak, their assets were of low quality, and 

their earnings position inadequate. The Corporation is continuing 

its efforts to correct these situations.

C ommercial Ba n k in g Offices

Number and types of commercial banking offices in operation. On December 31, 1937, 18,364 commercial banking offices 

were in operation in the United States and possessions. Figures are 

shown in Table 11. Of these offices, 13,958 were unit banks, that is 

banks having but one place of business, 924 were head offices of 

branch banking systems and 3,482 were branch offices of such systems.

T able 11. N umbbr and T ype op Operating Commercial Banking Offices

in the United States and Possessions,

D ecem ber 31, 1936, an d D ecem ber 31, 1937

Dec. 31, 

1937

Dec. 31, 

1936

Change

during

year

Banking offices—total........................................................ 18,364 18,516 -152

14,882 15,151 -269

Unit banks...................................................................... 13,958 14,257 -299

Banks operating branches.............................................. 924 894 +30

Branches—total............................................................... 3,482 3,365 +117

58 59 -1

In continental United States—total........................ 3,424 3,306 +118

Located in head office city.......................................... 1,640 1,634 +6

Located elsewhere in county....................................... 721 677 +44

Located elsewhere in State.......................................... 1,056 988 +68

Located in other States............................................... 7 7

NOTE: More detailed figures relating to all commercial banks will be found in Tables 161-05, 

pages 68-83, and in Table 108, page 90.

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

Changes in operating com m ercial banking offices during

1937. The total number of commercial banking offices was reduced 

by 152 during the year. The number of banks in operation decreased 

by 269 while the number of branches increased by 117. The increase 

in the number of branches reflected a continuation of the trend 

toward branch banking which has been in existence since the beginning 

of the century. The number of unit commercial banks in the United 

States and possessions was reduced by 299 during the year, while the 

number of offices of branch banking systems increased by 147, or 

from 23 to 24 percent of all banking offices in operation. In 1925 

only 18 percent of all banking offices belonged to branch systems. 

An analysis of changes in the number of operating commercial banks 

and banking offices in the United States and possessions is presented 

in Table 12.

T able 12. ANALYSIS OP CHANGES IN NUMBER OP OFFICES OF OPERATING 

Commercial Banks in the United States and P ossessions D uring 1937

Total

offices | Banks Branches

Net change during 1937..................................................... -152 -269 117

Banks and branches opened—total............................. 157 64 93

Banks beginning operations and new branches opened.. 

Trust company admitted to insurance...........................

156

1

63

1

93

Banks converted into branches.................................... 90 90

66

Banks ceasing operations and branches discontinued 

—total............................................................................ 309 2U3

Suspensions1....................................................................

Restricted banks placed in liquidation3..........................

58

3

55

3

3

Mergers and consolidations, excluding banks converted 

f into branches............................................................... 10U

81

10U

! Other liquidations......................................................... 81

Branches otherwise discontinued.................................... 63 63

Excludes 4 banks suspended and reopened or succeeded.

^Excludes 1 restricted bank which was succeeded.

NOTE: Italics indicate changes which decreased the number of banks or branches. More detailed 

figures will be found in Table 102, page 70.

Participation by Commercial Banks in D eposit Insurance

Num ber of operating insured and noninsured commercial

banks and banking offices. On December 31, 1937, the Federal 

Deposit Insurance Corporation was insuring deposits in 13,797 

commercial banks operating 17,178 offices.* The number of insured 

commercial banks in operation was reduced by 176, or 1.2 percent, 

during the year, reflecting chiefly mergers and the conversion of unit 

banks into branches. The total number of banking offices of insured 

commercial banks was reduced by only 56 during the year. Notwithstanding the reduction in number, the proportion of operating 

commercial banks insured by the Corporation increased from 92.2 

percent at the beginning of the year to 92.7 percent at its close.

lIn addition, the Corporation was insuring deposits in 56 mutual savings banks. (See page 53).

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PARTICIPATION IN DEPOSIT INSURANCE 33

Figures showing the number of banking offices insured and noninsured 

at the beginning and close of 1937 are set forth in Table 13.

T able 13. N u m ber OP OPERATING INSURED AND NONINSURED COMMERCIAL

B an k in g Offices in the U n ited States and P ossessions,

D ecem ber 31, 1936, and D ecem ber 31, 1937

Number Percent of total

Dec. 31, Dec. 31, Dec. 31, Dec. 31,

1937 1936 1937 1936

Banking offices........................................................... 18,364 18,516 100 100

Insured................................................................... 17,178 17,234 94 93

Noninsured............................................................. 1,186 1,282 6 7

Banks........................................................................ 14,882 15,151 81 82

Insured................................................................... 13,797 13,973 76 76

Noninsured............................................................. 1,085 1,178 5 6

Branches.................................................................. 3,482 3,365 19 18

3,381 3,261 18 17

Noninsured............................................................. 101 104 1 1

NOTE: More detailed figures will be found in Table 101 ( page 68.

Admissions to and terminations o f insurance. During 1937 

143 banks were admitted to insurance. Of these, 46 were new banks, 

35 were previously operating or successors to noninsured banks, 

61 were banks which succeeded insured banks or which withdrew from 

the Federal Reserve System, and 1 was a trust company doing a 

trust business exclusively.

T able 14. Admissions To and Term inations o f I nsurance D u rin g 1937

Total

Not offset 

by . 

terminations

Offset 

by . 

terminations

Total number of admissions............................................. 143 82 61

New banks.......................................................................... 46 46

Operating banks admitted to insurance (including successors to noninsured banks).......................................... 35 35

Trust company not engaged in banking admitted to 

insurance........................................................................ 1 1

Successors to insured banks................................................ 55 55

Banks withdrawing from Federal Reserve System............ 6 6

Total

Not offset

by. admissions

Offset

by

admissions

Total number of terminations......................................... 319 258 61

Withdrawals from Federal Reserve System....................... 6 6

Insurance terminated by FDIC......................................... 1 1

Banks ceasing operations—total..................................

Suspensions.....................................................................

Insolvent banks absorbed or succeeded with aid of loans

by FDIC1....................................................................

Other mergers, absorptions, and consolidations.............

Other liquidations...........................................................

312

53

24

152

36

257

51

20

150

36

55

2

4

2

Banks succeeded by other banks.................................... 47 47

Excluding 1 suspended bank later merged with the aid of a loan from the Federal Deposit Insurance Corporation.

NOTE: More detailed figures will be found in Table 102, page 70.

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

The total number of terminations of insurance, excluding banks 

succeeded by new insured banks, was 258. Of these, 51 were suspensions, 20 were mergers of insolvent banks with the financial aid of 

this Corporation, 1 was a termination on account of continued unsafe 

and unsound banking practices and violations of law, and the remainder were absorptions, consolidations, and liquidations. Details 

are given in Table 14.

Deposits o f operating commercial banks. During 1937 

deposits of all commercial banks averaged $49.1 billion, of which 

$47.6 billion, or 97 percent, were in insured banks.1 Deposits declined by $2 billion from the beginning to the close of the year. The 

decline was much smaller, however, than the increase of $5 billion 

which occurred during 1936 and deposits averaged higher in 1937 

than in 1936.

Table 15. CHANGES IN DEPOSITS DURING 1937 

OPERATING INSURED AND NONINSURED COMMERCIAL BANKS

(Amounts in millions of dollars)

Amount Change during year

Dec. 31, 

1937

Dec. 31, 

1936 Amount Percent

Ail commercial banks—total... 48,623 50,840 -2,217 -4.4

Insured banks—total.............................. 47,191 49,258 -2,067 -4.2

Demand deposits of individuals, partnership, and corporations......................... 22,106 23,419 -1,313 -5.6

Time deposits of individuals, partnerships, and corporations....................... 13,960 13,454 +506 +3.8

Deposits of States and their political 

subdivisions......................................... 3,256 3,263 -7 -.2

United States Government and postal 

savings deposits................................... 927 1,087 -160 -14.7

Deposits of other banks, cash letters of 

credit, certified, officers', and travelers' 

checks outstanding.............................. 6,942 8,035 -1,093 -13.6

Noninsured banks—total....................... 1,432 1,582 -150 -9.5

Changes in deposits of insured banks during the year were such as 

probably to increase the proportion of deposits protected by insurance. 

Interbank deposits and United States Government deposits, only a 

small part of which are protected by insurance, decreased by more than 

$1 billion, or 14 percent. Demand deposits of individuals, partnerships, and corporations, about 40 percent of which are estimated to be 

protected by insurance, also declined by more than $1 billion. Time 

deposits of individuals, partnerships, and corporations, on the other 

hand, more than four-fifths of which are protected by insurance, 

increased by $0.5 billion. The figures are shown in Table 15.

deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks 

are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.

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ASSETS AND LIABILITIES OF OPERATING BANKS 35

A ssets and Lia bilitie s of Operatin g C ommercial Banks

Assets and liabilities of insured commercial banks at the 

beginning and close of the year. On December 31, 1937, total 

assets of operating insured commercial banks amounted to $54.2 

billion, a reduction of $2.0 billion, or 3.5 percent, from the amount 

reported a year earlier. Total loans, although somewhat below the 

peak reached during the year, were larger at the close of 1937 than 

at the close of 1936. Other important types of assets showed decreases over the year period. Total book capital account of the 

banks increased, and was higher in proportion to total assets and to 

total deposits at the close than at the beginning of the year. Changes 

during 1937 in assets and liabilities of operating insured commercial 

banks are shown in Table 16.

Table 16. CHANGES IN ASSETS AND LIABILITIES DURING 1937 

OPERATING INSURED COMMERCIAL BANKS

(Amounts in millions of dollars)

Amount Change during year

Dec. 31, 

1937

Dec. 31, 

1936 Amount Percent

ASSETS

Cash and due from banks.............................. 14,931 15,731 -800 -5.1

Obligations of the U. S. Government............ 13,669 14,749 -1,080 -7.3

Other securities.............................................. 6,807 7,558 -751 -9.9

Loans and discounts....................................... 16,718 15,940 +778 +4.9

Miscellaneous assets....................................... 2,096 2,218 -122 -5.5

Total assets........................................... 54,221 56,196 -1,975 -3.5

LIABILITIES AND CAPITAL

Total deposits................................................. 47,191 49,258 -2,067 -4.2

Miscellaneous liabilities.................................. 626 609 +17 +2.8

Total capital account..................................... 6,404 6,329 +75 +1.2

Total liabilities and capital account. 54,221 56,196 -1,975 -3.5

NOTE: More detailed figures will be found in Table 117, page 108.

Bank capital and the expansion of loans. Total loans of all 

insured commercial banks were 5 percent larger in amount at the 

close than at the beginning of 1937 notwithstanding the decrease in 

total deposits and total assets. All other important classes of assets 

declined over the year period. After making adjustments for changes 

among the classes of banks, it is estimated that the national and State 

banks members of the Federal Reserve System located outside New 

York City and Chicago showed about the same percentage increase 

in loans in the aggregate, approximately 9 percent, as did the insured 

commercial banks not members of the Federal Reserve System. The 

banks members of the Federal Reserve System located in New York 

and Chicago showed a reduction in loans of 4 percent. In the banks 

members of the Federal Reserve System holdings of securities declined substantially and cash and due from banks slightly, while

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

in the banks not members of the Federal Reserve System holdings of 

securities increased slightly and cash and due from banks declined 

substantially.

Among the banks not members of the Federal Reserve System, 

adequacy of the capital account and changes in the amount of total 

deposits did not appear to affect the extension of loans to their 

customers. In general, the percentage growth in loans was larger 

among banks with low ratios of total capital account to total assets 

and smaller among banks with high capital ratios. Changes in 

deposits were generally accompanied by corresponding changes in 

holdings of securities and cash and due from banks. Table 17 

shows percentage changes in principal classes of assets between December 31, 1936, and December 31, 1937, of insured commercial 

banks not members of the Federal Reserve System grouped according 

to the ratio of total capital account to total assets. The percentage 

changes are based on figures for identical banks and the capital ratios 

are computed on the basis of averages for the three dates December 

31,1936, June 30,1937, and December 31,1937.

T able 17. P ercen tag e C hange in P r in cipal Classes op A ssets,

D ecem ber 31, 1936, T o D ecem ber 31, 1937

operatin g in su red com mercial b an k s not m em bers op th e fe d e ra l r e se r v e

SYSTEM GROUPED ACCORDING TO RATIO OF TOTAL CAPITAL ACCOUNT TO TOTAL ASSETS

Number

of

banks

Total

assets

Cash and 

due from 

banks

Securities Loans Other

assets

All banks............................... 6,680 +1.9 -9.3 +3.1 +9.8 -4.2

Banks with total capital 

account as percent of 

total assets of—

0 to 4.9 percent................... 16 —3.6 -18.7 +2.3 +19.3 -9.3

5 to 9.9 percent................... 1,104 +3.1 -7.2 +3.1 +14.3 —3.0

10 to 14.9 percent............... 2,566 +2.6 -9.6 +3.7 +10.5 -3.9

15 to 19.9 percent............... 1,690 +1.6 -8.7 +3.5 +7.4 -5.4

20 to 24.9 percent............... 761 +0.2 -12.2 +1.2 +6.7 -2.6

25 to 29.9 percent............... 312 -0.5 -21.2 +1.3 +9.9 -4.2

30 percent and over............ 231 -5.0 -14.1 -2.2 -2.8 -5.5

NOTE: The number of banks is smaller than the number shown in Tables 118-21, pages 112-21, 

due to the exclusion of banks (a) for which figures were not available for both dates; (b) in which special 

circumstances such as consolidations, reorganizations, etc., affected the comparison; and (c) whose figures 

were known to contain some errors which might affect the comparisons. The differences between the 

figures for all banks in the above table and comparable percentages derived from Table 118, page 112, 

are due* chiefly to the fact that figures in the latter table are not for identical banks.

Changes in the banks’ remaining assets did not appear to show 

persistent differences among the banks grouped according to capital 

ratios with the exception of cash and due from banks. Banks with 

low capital ratios not only held a larger proportion of cash and due 

from banks but also apparently attempted to keep the reduction in 

the latter item at a minimum, while banks with high capital ratios 

permitted their cash and due from banks to decline considerably.

Similar differences in the movement of loans, although less clearly 

marked, existed among the 100 largest banks in the country. These

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ASSETS AND LIABILITIES OF OPERATING BANKS 37

banks held more than one-half of the total deposits of all commercial 

banks and all but three of them were members of the Federal Reserve 

System. Total loans of the 100 banks were reduced during the year. 

In general, loans were reduced most in the banks with high capital 

ratios, and were reduced least or were increased in those with low 

capital ratios. In New York City, where 21 of these banks were 

located, there did not appear to be marked differences with regard to 

the decrease in loans between banks with high capital ratios and those 

with low capital ratios.

Assets and liabilities o f all commercial banks, 1920,1929, and

1937. Total assets of all commercial banks in the United States and 

its possessions on June 30, 1937, totaled $56.8 billion, as compared 

with $62.2 billion in the middle of 1929 and $47.4 billion in 1920. 

These dates are selected as fairly representative of three periods of 

active business with bank credit outstanding in substantial volume. 

Although the number of banks in 1937 was approximately one-half 

the number in 1920, total assets were one-fifth greater. As compared 

with 1929, the number of banks declined by 40 percent and total 

assets by 8 percent.

Changes in the composition of assets of all commercial banks over 

the 17-year period have been substantial. Cash and amounts due 

from banks comprised 26 percent of all assets in 1937, or almost twice 

the proportion held in 1929 and considerably more than in 1920. 

Holdings of United States Government securities at 26 percent were 

more than three times either the 1920 or the 1929 figure. The 

proportion of assets in the form of loans and discounts, at 31 percent 

in 1937, was very little more than one-half as great as in 1929 or 1920. 

The banks’ loans appeared to be of higher quality than in the two 

earlier periods. The percentage distribution of assets and liabilities 

is shown in Table 18.

T able 18. PERCENTAGE DISTRIBUTION OF ASSETS AND LIABILITIES,

1920, 1929, AND 1937

ALL OPERATING COMMERCIAL BANKS IN THE UNITED STATES AND POSSESSIONS

June 30, 

1920

June 29, 

1929

June 30, 

1937

ASSETS

Cash and due from banks....................................................

Obligations of the United States Government.....................

Other securities....................................................................

Loans and discounts.............................................................

17.2%

7.9

10.4

60.6

14.6%

8.0

13.8

57.3

26.4%

25.7 

13.2

30.7

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

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

3.9

100.0

6.3

100.0

4.0

100.0

LIABILITIES AND CAPITAL

Total deposits.......................................................................

Rediscounts and borrowings................................................

National bank notes.............................................................

77.0%

6.9

1.5

78.7%

2.7

1.0

86.9%

1\|i«w>lianoo^8 liabilities....................................................... 2.7 3.4 1.3

Total capital account........................................................... 11.9 14.2 11.7

Total liabilities and capital account...................... 100.0 100.0 100.0

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38 FEDERAL DEPOSIT INSURANCE CORPORATION

Among the liabilities, total deposits showed the largest change from 

the earlier years, amounting to 87 percent of total liabilities and 

capital, as compared with about 78 percent in 1920 and 1929. By 1987, 

borrowings were reduced to negligible proportions. As a result of the 

material increase in the proportion of total liabilities taking the form 

of deposits, however, the amount of total capital account in proportion 

to total deposits declined from 15.5 percent in 1920 and 18.1 percent 

in 1929 to 13.5 percent in 1937.

A ppraisal of A ssets of Insured C ommercial Ban k s not M em bers

of the F ederal R eserve System

At the time of examination the examiner ascertains the value of a 

bank’s assets and classifies them as to quality. Worthless assets or 

assets of doubtful worth are listed as loss or doubtful. Loss and 

doubtful assets are deducted from book value, and the determinable 

sound banking value of assets not shown on the books is added to the 

book value of assets in order to obtain the net or appraised value. 

The difference between book value and net value is known as net loss 

and doubtful, or net appreciation, as the case may be. Undesirable 

or hazardous assets are listed; such assets are designated as substandard in this report. Bank premises and equipment and holdings 

of real estate are listed as fixed assets.

Total assets. Examination of insured commercial banks not 

members of the Federal Reserve System showed total assets with a 

book value of $7.1 billion. These assets were distributed as follows: 

cash and due from banks, $1.5 billion; securities, $2.6 billion; loans 

and discounts, $2.6 billion; miscellaneous assets, consisting chiefly 

of banking house, furniture and fixtures and other real estate, $0.4 

billion. The appraised value of the assets was $7.0 billion or practically the same as the book value. Approximately 16 percent of the 

assets were classified as fixed and substandard; 83 percent were of 

good quality. The percentage figures are shown in Table 19.

T able 19. Appraised Value of Assets as Percent of B ook Value,

E xamination in 1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

FEDERAL RESERVE SYSTEM

Book

value

Loss and 

doubtfulnet1

Appraised value

Total

Fixed and 

substandard

Not

criticized

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

Cash and due from banks.......................

100.0%

100.0

100.0

100.0

100.0

1.1% 98.9%

100.0

101.0

97.5

91.9

15.6% 83.3%

100.0

88.2

81.1

9.0

Securities.................................................

Loans and discounts...............................

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

21.0

2.5 

8.1

12.8

16.4

882.9

Assets classified as loss and doubtful less value of assets not shown on books. 

2Net appreciation, 

includes fixed assets.

NOTE: More detailed figures will be found in Table 127, pages 132-35.

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APPRAISAL OF ASSETS OF INSURED COMMERCIAL BANKS 39

The value of securities was appraised at 1 percent above book 

value while loans were appraised at 2.5 percent and miscellaneous 

assets at 8 percent below book value. The percentage of various 

types of assets classified as fixed and substandard was 13 in the case 

of securities, 16 in the case of loans, and 83 in the case of all other 

assets, excluding cash and amounts due from other banks. Fixed 

and substandard miscellaneous assets include investment in banking 

house and holdings of real estate acquired in settlement of debts.

There was considerable variation among the banks in the proportion of assets classified as fixed and substandard. In one-third of the 

banks less than 10 percent of the assets were so classified while in 

3 percent of the banks over 40 percent of the assets were fixed and 

substandard. The figures are shown in Table 20.

Table 20. DISTRIBUTION OF OPERATING INSURED COMMERCIAL BANKS NOT 

M em bers o f t h e F e d e r a l R e s e r v e System A c c o r d in g t o P e r c e n t o f 

F ix e d a n d S u b sta n d a rd A sse ts, E xa m in a tion in 1937

Number

of

banks

Percent

of

total

Cumulative 

percent 

of total

All banks............................................................................... 7,293 100.0

Banks with fixed and substandard assets as percent 

of net value of assets of—

0 to 9 percent...................................................................... 2,403 32.9 32.9

10 to 19 percent.................................................................. 2,836 38.9 71.8

20 to 29 percent................................................................. 1,384 19.0 90.8

30 to 39 percent.................................................................. 479 6.6 97.4

40 percent and over............................................................ 191 2.6 100.0

The examinations made by the Corporation show a continuous 

improvement in the quality of assets held by the banks since their 

admission to deposit insurance. At the time of examination for 

admission in 1933 and early 1934 more than 10 percent of the banks' 

assets were classified as loss and doubtful. The amount of assets so 

classified was reduced in each successive year reflecting the charging 

off of losses by the banks, recoveries in the value of some assets, and 

improvement in the credit status of debtors. The proportion was 

reduced to an even greater extent by the growth in total assets. 

The proportion of assets criticized as substandard has likewise been 

reduced. The figures are shown in Table 21.

Table 21. A p p raised VALUE OF TOTAL ASSETS AS PERCENT OF BOOK VALUE, 

E xam in ation s 1933-1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

FEDERAL RESERVE SYSTEM

1937 1936 1935 1934 U933

Book value.........................

Loss and doubtful-net2............................

Appraised value.......................................

Fixed and substandard..........................

Not criticized.........................................

100.0%

1.1

98.9

15.6

83.3

100.0%

1.4

98.6

16.2

82.k

100.0%

4.1

95.9

19.6

76.3

100.0%

6.5

93.5

(3)

(3)

100.0%

10.5

89.5

(3)

(*>

Examination for admission to insurance in 1933 and early 1934.

2Assets classified as loss and doubtful less value of assets not shown on books. 

3Not available.

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40 FEDERAL DEPOSIT INSURANCE CORPORATION

Securities. Of the securities held by insured commercial banks 

not members of the Federal Reserve System, approximately 13 percent were substandard in quality and 87 percent were of acceptable 

grade and were not criticized by examiners. The distribution of 

securities held by all insured commercial banks not members of the 

Federal Reserve System at the time of examination in 1937 is shown 

in Table 22.

Table 22. B ook V al u e of Secu rities, E x a m in a tio n in 1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

FEDERAL RESERVE SYSTEM

Amount 

(in millions 

of dollars)

Percent 

of total 

securities

Total securities.......................................................................................... 2,584

2,261

1 0 0 .0

Group I—satisfactory for bank investment..................................... 87.5

Obligations of the U. S. Government—direct and fully guaranteed.. 1,195 46.2

Other obligations of Federal agencies and territorial and insular 

governments...................................................................................... 44 1.7

Obligations of States and their political subdivisions.......................... 416 16.1

Corporate bonds rated—

First grade......................................................................................... 36 1.4

Second grade..................................................................................... 105 4.1

Third grade.................................... .................................................. 160 6 .2

Fourth grade..................................................................................... 239 9.3

Miscellaneous1....................................................................................... 66 2.5

Substandard—unsatisfactory for bank investment........................ 344 13.3

Low grade bonds8.................................................................................. 2 00 7.7

Defaulted bonds and those in imminent danger of default3................. 57 2 .2

Stocks.................................................................................................... 87 3.4

Valuation allowance—net........................................................................... 21

includes not-rated corporates and some not-rated municipals.

includes obligations of corporations and of States and their political subdivisions.

NOTE: More detailed figures will be found in Table 130, page 140.

In one-fifth of the banks examined in 1937, there were practically 

no substandard securities and in another one-third of the banks not 

more than 10 percent of the securities held were substandard. In 

approximately 7 percent of the banks more than half of the securities 

were substandard. The figures are presented in Table 23.

Table 23. DISTRIBUTION OF OPERATING INSURED COMMERCIAL BANKS NOT

M em bers of th e F ed eral R eserve System A ccording to P ercent of

Su bstan dard Secu rities, E xa m in a tio n in 1937

Number

of

banks

Percent

of

total

Cumulative

percent

All banks...............................................................................

Banks with no securities................................................

7,293

104

1 00.0

1.4 1.4

Banks with substandard securities as percent of 

total securities of—

0 percent.......................................................................... 1,388 19.1 20.5

1 to 5 percent.................................................................. 1,367 18.7 39.2

5 to 10 percent................................................................

10 to 15 percent..............................................................

1,053

793

14.4 53.6

10.9 64.5

15 to 20 percent.............................................................. 627 8 .6 73.1

20 to 30 percent.............................................................. 775 1 0.6 83.7

30 to 50 percent.............................................................. 694 9.5 93.2

Over 50 percent............................................................... 492 6 .8 1 00 .0

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APPRAISAL OP ASSETS OF INSURED COMMERCIAL BANKS 41

Although quality did not differ perceptibly with size and location 

of bank, there was variation in the proportion of United States 

Government, municipal, and corporate issues held. Security holdings 

of the small banks were confined almost entirely to United States 

Government and municipal obligations, while the larger banks held 

a larger proportion of corporate issues. Banks in the same region 

held somewhat similar types of securities.

Table 24. B ook an d M a r k e t V a l u e op Secu rities, E xa m in a tio n in 1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

FEDERAL RESERVE SYSTEM

Number 

of banks 

examined

Value of securities 

(in millions of dollars)

Book Market

Total...................................................................................... 7,293 2,584 2,609

Month of examination:

January............................................................................... 456 160 166

February............................................................................. 470 209 216

March................................................................................. 668 262 267

April.................................................................................... 625 193 194

May..................................................................................... 659 246 246

June..................................................................................... 583 205 208

July..................................................................................... 448 142 145

August................................................................................. 572 167 170

September.......................................................................... 693 2 10 209

October............................................................................... 745 255 252

November........................................................................... 741 277 278

December............................................................................ 633 258 258

Examinations made during the first eight months of 1937 indicated 

that in the aggregate the market value of the securities held was 

higher than the value at which they were carried on the banks’ books. 

Examinations made in the last four months of the year, a period in 

which prices of medium and low grade securities declined substantially, revealed little or no market depreciation below book value. Table

24 shows the book and market values of securities held by the banks 

examined in each month in 1937.

Loans. The volume of loans outstanding in 1937 was higher than 

in any other recent year. Both the amount and the proportion of 

loans criticized by the examiners were considerably smaller than in 

any year since the Corporation was established. The proportion

Table 25. Appraised V alue of L oans as P ercent of B ook V a lu e,

E xam in ation s 1934-1937 

operating insu red commercial ban k s not m embers of the

FEDERAL RESERVE SYSTEM

1937 1936 1935 1934

Book value................................................................... 1 00 .0 %

2.5 

97.5 

16 4

81.1

1 00 .0 %

4.4

95.6

21.0

7A.6

1 00.0 %

6.5

93.5

254

68.1

1 00 .0 %

8 .0

92.0

S2.6

594

Loss and doubtful.....................................................

Appraised value.........................................................

Substandard............................................................

Not criticized...........................................................

NOTE: More detailed figures will be found in Table 129, page 138.

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42 FEDERAL DEPOSIT INSURANCE CORPORATION

criticized was less than one-half as great as in 1934. The improvement reflected the charging off of losses, improvement in the condition of borrowers, the repayment of loans, and the growth in total 

loans. Table 25 shows for each year from 1934 to 1937 the appraisal 

of loans of insured commercial banks not members of the Federal 

Reserve System at the time of examination.

Criticized loans of all insured commercial banks. Total 

loans of all insured commercial banks amounted to more than $16 

billion in 1937. Slightly more than $2 billion, or 14 percent, were 

criticized by the examiners of the three Federal bank examining 

agencies. The Comptroller of the Currency reported that 12.5 percent of the loans of national banks were criticized. On the basis of 

data covering part of the State banks members of the Federal Reserve 

System, it is estimated that about 15 percent of the loans of those 

banks were criticized. Of loans held by banks not members of the 

Federal Reserve System, 18.9 percent were criticized by examiners. 

The percentage of loans criticized was substantially smaller in 1937 

than in earlier years.

Table 26. Criticized L oans, E xa m in a tio n in 1937

OPERATING INSURED COMMERCIAL BANKS BY CLASS OF BANK

Amount (in millions 

of dollars) Criticized 

loans as 

percent of 

total 

loans

Percentage 

distribution of 

criticized 

loans Total

loans

Criticized

loans

AU insured banks.............. 16)267 2,330 14.3 1 00 .0

Members F. R. System............................................. 13,689 1,843 13.5 79.1

National................................................................. 8,U27 1,05U 12.5 U5.2

State1...................................................................... 5,262 789 15.0 83.9

Not members F. R. System...................................... 2,578 487 18.9 20.9

Partly estimated.

Of the criticized loans nearly half were in national banks, one-third 

were in the State banks members of the Federal Reserve System, and 

one-fifth were in the insured banks not members of the Federal 

Reserve System. Table 26 shows the amount and proportion of 

loans criticized by examiners in 1937 in each class of insured banks.

Capital of Operatin g Insured C omm ercial Ban ks

On December 31, 1937, insured commercial banks reported total 

capital accounts of $6.4 billion, an increase for the year of $75 million, 

or 1 percent. Total deposits in the banks declined during 1937 and 

the ratio of total capital account to total deposits increased. The 

percentage of aggregate capital account to total deposits of all insured 

banks at the close of each of the past four years was as follows:

1937—13.6 percent 

1936—12.9 percent 

1935—14.1 percent 

1934—15.8 percent

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CAPITAL OF OPERATING INSURED COMMERCIAL BANKS 43

Changes during the year in the total capital accounts of all insured 

commercial banks are summarized in Table 27.

Table 27. A n alysis OP CHANGES IN TOTAL CAPITAL ACCOUNT DURING 1937 

OPERATING INSURED COMMERCIAL BANKS 

(Amounts in millions of dollars)

Total capital account, December 31, 1937.................................................................. 6,404

Total capital account, December 31, 1936.................................................................. 6,329

Net change during year..................................................................................................... +75

Net earnings, recoveries on assets, and profits on securities......................................... +780

Losses on assets charged off or sold............................................................................... -395

Dividends........................................................................................ . ............................. -225

Net repayment of capital to the Reconstruction Finance Corporation........................ -96

Other contributions, retirements, and changes due to admission to or withdrawal from

insurance..................................................................................................................... + 1 1

Capital rehabilitation of all insured commercial banks.

Since the banking holiday of 1933 the total capital account of all 

insured commercial banks has increased by about $0.7 billion. Included in this figure is $0.4 billion of capital in newly organized banks. 

Improvement in the capital position of the insured banks was greater 

than is indicated by the increase in book capital. The charging off 

of $3.5 billion of assets reduced the difference between book capital 

and the net invested capital of the banks by a corresponding amount. 

This improvement was made possible by the receipt of approximately 

$5.5 billion of funds, obtained from the following sources:

Net earnings, recoveries on assets, and profits

on securities................................................. $3.9 billion

Contributions or subscriptions from private

sources......................................................... 0.5 billion

Investment in preferred capital by the Reconstruction Finance Corporation..................... 1.0 billion

In addition to the $3.5 billion of assets charged off, capital invested 

by the Reconstruction Finance Corporation of approximately $0.5 

billion was retired. Total interest and dividends on preferred and 

common capital amounted to approximately $1 billion.

Capital rehabilitation o f insured commercial banks not 

members o f the Federal Reserve System. Insured banks not 

members of the Federal Reserve System are examined by the Federal 

Deposit Insurance Corporation. As a consequence, more detailed 

information regarding the improvement in their capital position is 

available to the Corporation. In these banks, approximately $700 

million of assets were charged off during the period from the banking 

holiday of 1933 through 1937. A total of approximately $900 million 

of funds was added to the banks’ capital accounts from the following

sources:

Net earnings, recoveries on assets, and profits

on securities................................................. $570 million

Contributions or subscriptions from private

sources......................................................... 100 million

Investment in preferred capital by the Reconstruction Finance Corporation.................... 230 million

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44 FEDERAL DEPOSIT INSURANCE CORPORATION

C A P I T A L C H A N G E S , 1 9 3 4 -1 9 3 7

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

FEDERAL RESERVE SYSTEM GROUPED BY AMOUNT OF DEPOSITS

Examination for admission Examination 1937

DOLLARS DOLLARS

N E T C A P IT A L A C C O U N T PER $100 OF 

T O T A L D E PO SITS

40 40

$100,000 $100,000 $250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 

to to to to to to

$250,000 $500,000 $1,000,000 $2,000,000 $5,000,000 $50,000,000

------------------Deposits of Banks------------------------------ ^

30 

20

10

0

DOLLARS DOLLARS

N E T C A P IT A L A C C O U N T PER $100 OF 

T O T A L C A P IT A L A C C O U N T

$500,000 $1,000,000 $2,000,000 $5,000,000 

to to to to

$1,000,000 $2,000,000 $5,000,000 $50,000,000

* Deposits of Banks------------------------------^

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Federal Reserve Bank of St. Louis
CAPITAL OF OPERATING INSURED COMMERCIAL BANKS 45

Capital investment of $50 million was repaid to the Reconstruction 

Finance Corporation and to others; interest and dividends on preferred and common capital amounted to about $85 million. Suspensions, mergers, liquidations, admissions to Federal Reserve membership, and conversions into national banks, offset only in part by the 

creation of new banks, accounted for a reduction of $90 million. As 

a result of these changes, the aggregate capital account of insured 

banks not members of the Federal Reserve System was actually 

reduced by approximately $40 million between the close of the banking 

holiday and December 31. 1937.

The introduction of the new funds which made possible the charging 

off of more than $700 million of assets brought about a corresponding 

improvement in the banks’ net capital account. At the time of 

examination for admission to insurance in 1933 and early 1934 the 

net capital account of insured commercial banks not members of the 

Federal Reserve System was 11.2 percent of total deposits. By 1937, 

the net capital account had increased to 15.3 percent of total deposits 

notwithstanding a substantial growth in deposits.

The extent of the improvement is illustrated in Chart I, which 

shows the amount of net capital account per $100 of total deposits 

and per $100 of book capital of insured commercial banks not members 

of the Federal Reserve System grouped by amount of deposits, at the 

time of examination for admission to insurance in 1933 and early 

1934, and at the time of examination in 1937. The figures are shown 

in Table 28.

Table 28. N et Ca p it a l A ccount P ek $100 op T otal D eposits an d op T otal

Capita l A ccount, E xa m in a tio n for A dmission to I nsurance in 1933 

an d E ar ly 1934 an d E xa m in a tio n in 1937

operatin g in su red commercial b an k s not m embers of th e

fed eral r eserve system grouped b y am ount of deposits

Net capital account per $10 0 of—

Total deposits Total capital account

1937

1933 

and

1934

1937

1933 

and

1934

All banks...................................................................... $15.30

31.30

20.30 

15.70

15.20 

14.60 

14.80

16.20 

14.90 

12.2 0

$11.2 0

31.80

17.20

1 2.2 0

9.80

9.20

10.60

11.50

2.60

$92.30

87.50 

91.80 

94.70

93.20

90.50 

90.60

1 86.80 

i 94.10 

101.50

$45.10

69.00 

60.10 

52.10

40.70

37.70 

42.30

44.00 

19.60

Banks with deposits of—

$1 0 0 ,0 0 0 and under...................................................

$100,000 to $250,000.................................................

$250,000 to $500,000.................................................

$500,000 to $1,000,000..............................................

$1 ,0 00 ,00 0 to $2 ,0 0 0 ,0 0 0 ...........................................

$2,000,000 to $5,000,000...........................................

$5,000,000 to $10,000,000.........................................

$10,000,000 to $50,000,000.......................................

Over $50,000,0001......................................................

xBecause of the small number of banks, the figures for this group are not necessarily typical of banks 

with deposits of over $50,000,000.

NOTE: More detailed figures will be found in Table 124, page 124.

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

There has been a substantial reduction in the number of banks 

with extremely low capital ratios. At the time of admission to 

insurance in 1933 and early 1934, approximately 750 banks had no 

net capital account at all, compared with 13 banks in 1937. Another 

750 banks had a net capital account equal to less than 5 percent of 

total deposits in 1933 and early 1934, compared with about 75 banks 

in 1937. The percentage distribution of the banks grouped according 

to the ratio of net capital account to total deposits in each of the 

past five years is shown in Table 29.

Table 29. P e r c e n t a g e D is tr ib u tio n op N u m ber op B a n k s A c c o r d in g t o 

N e t C a p ita l A c c o u n t a s P e r c e n t op D e p o sits, E x a m in a tion s 1933-1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

FEDERAL RESERVE SYSTEM

1937 1936 1935 1934 11933

All banks...................................................

Banks with net capital account as 

percent of deposits of—

0 percent..................................................

0.1 to 4.9 percent....................................

5.0 to 9.9 percent....................................

1 0 .0 percent and over.............................

1 00 .0 %

0 .2

0.9

13.8

85.1

1 0 0 .0 %

0.3

0.9

1 0 .0

8 8 .8

1 0 0 .0 %

0.5

1 .6

10.9

87.0

1 00 .0 %

0 .6

1.9

10.5

87.0

1 0 0 .0 %

1 0.0

9.6

14.9

65.5

Examination for admission to insurance in 1933 and early 1934.

Qu ality of M anagem ent op Operatin g I nsured C ommercial

Ban k s not M em bers of the F ed eral R eserve System

Improvement in the quality of bank management is one of the 

major problems facing American banking, and the Corporation is 

endeavoring to improve management where unsatisfactory conditions 

exist. The great majority of banks are under good or satisfactory 

management. On the other hand, many banks are operating under 

management considered by the Corporation to be poor or unsatisfactory. Figures relating to the quality of management of operating 

insured commercial banks not members of the Federal Reserve 

System are shown in Table 30.

Table 30. DISTRIBUTION OP NUMBER AND DEPOSITS OF BANKS ACCORDING 

t o Q u a lity op M anagem ent, Exam ination in 1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE 

FEDERAL RESERVE SYSTEM

Number

of

Deposits 

(in millions

Percentage distribution

banks of dollars) Number Deposits

All banks...................................................................... 7,293

747

6,017

867

100 .0 1 00 .0

Banks with management considered to be— 

Good.......................................................................... 1 0 .2 14.4

Satisfactory............................................................... 3,632 3,083

1,458

437

49.8 51.2

Fair............................................................................ 2,066

673

28.4 24.2

Unsatisfactory........................................................... 9.2 7.3

Poor........................................................................... 175 172 2.4 2.9

NOTE: More detailed figures will be found in Table 128, page 136.

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Federal Reserve Bank of St. Louis
QUALITY OF MANAGEMENT OF BANKS 47

The proportion of banks with good and satisfactory management 

appears to be greater among the large banks than among the small 

banks. Of the 175 banks with poor management, 10, with deposits 

of more than $2,000,000 each, held total deposits of $89 million, while 

the remaining 165 banks held $83 million. Of the 673 banks with 

unsatisfactory management, 41, with deposits in excess of $2,000,000 

each, held total deposits of $179 million, while the 632 remaining 

banks held deposits of $258 million.

T able 31. PERCENTAGE DISTRIBUTION OP NUMBER OP BANKS ACCORDING TO 

Quality op M anagement, Examination in 1937

OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

FEDERAL RESERVE SYSTEM GROUPED BY AMOUNT OF DEPOSITS

Banks with management considered to be—

All

banks Good Satisfactory Fair Unsatisfactory Poor

A11 banks............................... 1 00 .0 % 1 0 .2 % 49.8% 28.4% 9.2% 2.4%

Banks with deposits of-

$100 ,00 0 and under............. 1 00 .0 6 .6 37.8 36.3 16.3 3.0

$100,000 to $250,000.......... 1 00 .0 7.9 48.3 31.5 9.9 2.4

$250,000 to $500,000.......... 1 00 .0 8.9 52.8 28.4 8 .1 1 .8

$500,000 to $1,000,000....... 1 00 .0 12.7 52.3 23.9 8 .1 3.0

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . .. 1 00 .0 15.2 49.9 24.4 7.5 3.0

$2,000,000 to $5,000,000. .. 1 00 .0 15.2 49.7 23.4 9.4 2.3

$5,000,000 to $10,000,000. . 1 00 .0 14.3 57.1 2 2 .1 6.5

$10,000,000 to $25,000,000. 1 00 .0 28.9 40.0 2 2 .2 6.7 2 .2

$25,000,000 to $50,000,000. 1 00 .0 25.0 50.0 25.0

Over $50,000,000!............... 1 0 0 .0

because of the small number of banks, the figures for this group are omitted.

Table 31 shows the percentage distribution of the banks according 

to quality of management at the time of examination in 1937 and 

according to size as measured by deposits.

Of the banks with unsatisfactory or poor management about 140 

showed a poor capital position and an earning capacity inadequate 

to meet the losses which may be expected to result from the quality 

of assets held. Of the banks with management rated as fair or 

better, 36 had either no net capital account or such a small amount 

in comparison with the amount and quality of assets as to constitute 

hazardous situations.

These 176 banks held total deposits at the time of examination in 

1937 of about $220 million, of which about $180 million, or approximately 80 percent, are estimated by the Corporation’s examiners to 

be insured. Total assets of these banks were appraised at $245 

million, of which $170 million were uncriticized and $75 million, or 

about 30 percent, were substandard. Most of these banks were 

among the problem cases as far back as 1934. They were unable 

to rehabilitate themselves after the banking crisis of 1933. The 

Corporation is endeavoring to secure correction of these situations.

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

Earnings of Operatin g Insured C ommercial B an ks

Insured commercial banks reported higher net current operating 

earnings but lower net profits in 1937 than in 1936.

In considering the profitability of banking operations for a single 

year, or for a few years, the figures of net current operating earnings 

are more significant than those of net profits. Net earnings indicate 

the extent to which the gross current earnings of the bank, after 

covering operating expenses, are available to provide for net losses on 

assets and for a return on capital. The figures of net earnings are 

relatively stable. Net profits consist of net current operating earnings 

(1) plus recoveries on assets previously charged off, reductions in 

valuation allowances, and profits on securities sold, (2) less losses on 

assets and additions to valuation accounts. In any one year the 

figure for net profits is affected by the amount of losses or recoveries 

on assets which happen to be taken in that year. Inasmuch as the 

items upon which losses or recoveries are taken accumulate over a 

period of years, the amounts charged off, or recovered, in any one 

year may not necessarily bear any relation to operations in that year.

Net current operating earnings of all insured commercial 

banks. Net current operating earnings of insured commercial banks 

amounted to $471 million in 1937, or approximately 7.5 percent on 

total capital account. Net earnings have shown an increase in each 

of the last three years, not only in absolute amounts but also in 

relation to total assets and total capital account. The increase in 

net earnings of 7 percent, as compared with 1936, was the result of 

higher gross earnings only partly offset by higher total current 

expenses. Table 32 shows earnings, expenses, and disposition of 

profits of these banks for 1937 and 1936 in relation to assets and to 

total capital account.

Table 32. EARNINGS, E x pen se s, AND DISPOSITION OP PROFITS RELATED

to T otal A ssets a n d to T otal Ca pita l A ccount, 1936 an d 1937

OPERATING INSURED COMMERCIAL BANKS

Amounts per $100 of—

Total assets1 Total capital account1

1937 1936 1937 1936

Gross current operating earnings.................................. $2.97 $2.92 $25.62 $24.94

Total current operating expenses................................. 2 .1 1 2.09 18.22 17.89

Net current operating earnings— .8 6 .83 7.40 7.05

.56 1.09 4.85 9.32

Losses, charge-offs, etc.................................................. .72 .94 6 .2 0 7.99

Net profits after income taxes..................... .69 .98 5.97 8.34

Cash dividends declared and interest paid on capital.. .41 .42 3.54 3.55

Net profits after dividends............................ .28 .56 2.43 4.79

Averages of figures for beginning, middle, and end of year.

NOTE: More detailed figures will be found in Tables 131-33, pages 141-43.

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Federal Reserve Bank of St. Louis
EARNINGS OP OPERATING INSURED COMMERCIAL BANKS 49

Gross earnings from current operations amounted to $1,631 million, 

or 4 percent more than in 1936. Larger income from loans and discounts accounted for almost three-fourths of the increase in total 

earnings, and was due to the increase in the volume of loans and 

discounts outstanding. Table 33 shows earnings, expenses, and 

disposition of profits of all insured commercial banks in 1934, 1935, 

1936, and 1937.

Table 33. E arn in g s, E x pen se s, an d D ispositio n of P ro fits of

Op eratin g I nsured C om m ercial B an k s, 1934-1937

(Amounts in millions of dollars)

1937 1936 1935 1934

Gross current operating earnings.................................. 1,631 1,564 1,483 1,516

Total current operating expenses1................................. 1,160 1 ,1 2 2 1,081 1,115

Net current operating earnings................... 471 442 402 401

Profits on assets sold, recoveries, etc............................ 309 584 432 292

Losses, charge-offs, etc.1................................................ 395 501 627 1,032

Net profits after income taxes3..................... 380 523 207 8339

Cash dividends declared and interest paid on capital.. 225 223 207 188

Net profits after dividends............................ 155 300 *527

JTbe figures for 1936 and prior years were revised by the transfer of "depreciation on banking house, 

furniture and fixtures,” from the category of loss or charge-off to that of current operating expense.

3Income taxes are included under total current operating expenses except for banks not members of 

the Federal Reserve System in 1936 and 1937. These banks paid income taxes of $2,442,000 in 1936, 

and of $4,848,000 in 1937.

8Net loss.

NOTE: More detailed figures will be found in table 132, page 142.

Current operating expenses were 3.4 percent larger than in the 

previous year. A larger amount of salaries, wages, and fees accounted 

for two-thirds of the increase in total expenses.

Net profits o f all insured commercial banks. Net profits after 

recoveries and charge-offs, but before dividends, amounted to $380 

million in 1937, or 6 percent on total capital account. Approximately 

59 percent of the net profits, or $225 million, were paid out in cash 

dividends and in interest on capital notes and debentures. Of this 

amount $24 million were represented by interest and dividends on 

preferred capital, practically all of which was held by the Reconstruction Finance Corporation. Total interest paid and dividends 

declared on preferred and common capital were equivalent to 3.5 

percent of total capital account, and to 7.5 percent of the par value 

of capital stock, notes, and debentures. The balance of the net 

profits, amounting to $155 million, was retained by the banks and 

added to total capital account.

Net profits in 1937 were about one-fourth less than in 1936. This 

decrease in net profits was due chiefly to the smaller profits and 

recoveries on securities sold. Recoveries from securities previously 

charged off decreased 67 percent, and profits on securities sold dropped 

56 percent, while charge-offs on securities increased 14 percent. 

These changes reflected developments in the security markets. In 

contrast, charge-offs on loans declined 44 percent.

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

Dividends and interest on preferred and common capital were at 

slightly higher rates in 1937 than in 1936. As a result the balance 

added to the total capital account was about one-half that added in 

1936, and amounted to only 2.5 percent of the total capital account.

Net current operating earnings of insured commercial banks 

not members o f the Federal Reserve System. Insured commercial banks not members of the Federal Reserve System, as a group, 

showed a higher rate of gross earnings, of total expenses, and of net 

earnings than insured commercial banks, as a whole.

The insured commercial banks not members of the Federal Reserve 

System were distributed according to net current operating earnings 

per $100 of total assets, as follows:

.. 2 percent 

.. 30 percent 

.. 52 percent 

.........16 percent

Net deficits...............................

Net earnings of less than $1.00. 

Net earnings of $1.00 to $1.99.. 

Net earnings of $2.00 and over.

The proportion of banks showing low rates of earnings and net 

operating deficits was smaller in 1937 than in 1936, while the proportion of banks reporting average or higher-than-average earnings was 

greater. The distribution of the number and deposits of insured 

commercial banks not members of the Federal Reserve System 

according to rates of net earnings in 1936 and 1937 is shown in Table 

34. Figures showing earnings, expenses, and disposition of profits 

of insured commercial banks not members of the Federal Reserve 

System are presented in Table 35. Detailed figures for these banks, 

grouped according to rate of net earnings, rate of net profits, size of 

bank, population of center in which located, and number of banking 

offices in center, are presented in Tables 135-44, pages 146-62.

T able 34. PERCENTAGE DISTRIBUTION OP NUMBER AND DEPOSITS OP

B a n k s A c c o r d in g t o R a t e of N e t E a r n in g s , 1936 a n d 1937

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM 

OPERATING THROUGHOUT ENTIRE YEAR

Number of banks Amount of deposits

1937 1936 1937 1936

All banks...................................................................... 1 00.0 % 1 0 0 .0 % 1 00 .0 % 1 0 0 .0 %

Banks with net earnings per $100 of total 

assets of— 1

$-0 .0 1 or less2 ............................................................ 1 .6 2.7 1.3 1.7

$0.00 to $0.49............................................................ 7.2 1 2 .0 8 .6 12.4

$0.50 to $0.99............................................................ 22.5 25.0 26.1 28.1

$1.00 to $1.49............................................................ 31.3 28.8 38.4 34.6

$1.50 to $1.99............................................................ 2 1 .0 17.3 16.4 14.2

$2.00 to $2.49............................................................ 9.0 8 .0 5.8 5.8

$2.50 to $2.99........................................................... 4.0 3.4 1.9 2 .1

$3.00 and over........................................................... 3.4 2 .8 1.5 1.1

xFor 1987, averages of figures for December 31, 1936, June 30, 1937, and December 81, 1937; for 

1936, averages of end-of-month figures.

2Minus (-) indicates net deficit.

NOTE: More detailed figures for 1937 will be found in Tables 140-42, pages 156-60.

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Federal Reserve Bank of St. Louis
EARNINGS OF OPERATING INSURED COMMERCIAL BANKS 51

In 1937, as in the two preceding years, net earnings per $100 of 

assets were higher in the small banks than in the large banks. In 

general, the proportion of banks with high earnings was greater 

among the small banks. Similarly, with the exception of the very 

small banks, the proportion with net deficits was lower among the 

small banks.

Although the differences were not so marked as in the case of banks 

grouped by size, in both years banks in larger centers showed lower 

rates of net current operating earnings, than those in smaller centers.

In 1937, as in 1936, the States in which the banks showed the 

highest rates of net earnings were predominantly agricultural, and 

those in which net earnings were lowest were predominantly industrial.

T able 35. Earnings, Expenses, and D isposition op Profits

R elated to T otal Assets and to T otal Capital A ccount, 1937

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM 

OPERATING THROUGHOUT ENTIRE YEAR

Amounts

Amounts per $100 of—

in millions 

of 

dollars Total

assets1

Total

capital

account1

Gross current operating earnings............................................. 309 $4.25

3.03

$30.34

Total current operating expenses............................................. 220 21.61

Net current operating earnings....... 89 1.22 8.73

Profits on assets sold, recoveries, etc....................................... 52 .72 5.15

Losses, charge-offs, etc.............................................................. 93 1.27 9.12

Net profits before incom e taxes___ 48 .67 4.76

Income taxes............................................... 5 .07 .47

Net profits after incom e taxes................................. 43 .60 4.29

Cash dividends declared and interest paid on capital........... 24 .34 2.40

Net profits after dividends........................................ 19 .26 1.89

Averages of figures for December 31, 1936, June 30, 1937, and December 31, 19.37. 

NOTE: More detailed figures will be found in Tables 134-44, pages 144-62.

Net profits o f insured commercial banks not members o f the 

Federal Reserve System. In spite of the very large decrease,

25 percent, in the amount of net profits, the proportion of the banks 

which reported net profits was practically unchanged in 1937 as 

compared with 1936. However, the proportion of banks showing 

high profits decreased from 14 percent to 9 percent. The figures 

are shown in Table 36.

In general, those banks which showed high rates of net current 

operating earnings before recoveries and charge-offs, also showed 

high rates of net profits after recoveries and charge-offs. However, 

33 percent of the 116 banks with net deficits before recoveries and

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

charge-offs showed net profits after recoveries and charge-offs, while 

15 percent of the 7,235 banks with net earnings before recoveries and 

charge-offs showed net losses after recoveries and charge-offs. Detailed figures are presented in Table 144, page 162.

Table 36. DISTRIBUTION OF NUMBER OF BANKS ACCORDING TO RATE OF NET

P rofits, 1936 and 1937

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM 

OPERATING THROUGHOUT ENTIRE YEAR

Number of banks Percentage distribution

1937 1936 1937 1936

All banks................................................................ . 7,351 7,460 1 00 .0 1 00 .0

Banks with net profits per $100 of total assets 

of— 1

$-1 .0 0 or less5............................................................ 366 360 5.0 4.8

$-0.01 to $-0.99*....................................................... 796 686 10.9 9.2

$0.00 to $0.99............................................................ 3,191 3,044 43.3 40.8

$1.00 to $1.99............................................................ 2,318 2,343 31.5 31.4

$2 .0 0 and over........................................................... 680 1,027 9.3 13.8

lFor 1937, averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937; for 

1936, averages of end-of-month figures.

3Minus (-) indicates net loss.

NOTE: More detailed figures for 1937 will be found in Tables 143,144, pages 161,162.

Dividends. The distribution of insured commercial banks not 

members of the Federal Reserve System with respect to dividend 

payments was as follows:

Paying dividends or interest on preferred capital

only...................................................................26 percent

Paying dividends or interest on preferred and

common capital........................................... . .13 percent

Paying dividends on common capital only.......... 33 percent

Paying no dividends....... .............................28 percent

Those banks which paid common dividends only had no preferred 

stock, or capital notes and debentures outstanding. Less than 

10 percent of the banks which had preferred capital outstanding paid 

no dividends to owners of these investments.

Interest received and paid. The average rate of interest received on loans in 1937 was slightly under 6 percent, approximately 

the same as in 1936. The average rate of return on securities was 

about 3.5 percent in both years. The average rate of interest paid 

on time and savings deposits declined in 1937 as in each of the preceding three years. Rates continued to be higher than average 

among small banks and among banks in small centers. Banks with 

high net earnings paid a higher than average rate of interest on time 

deposits. Table 37 shows average rates of return on loans, and on 

securities, and average rates of interest paid on time deposits in each

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Federal Reserve Bank of St. Louis
INSURED MUTUAL SAVINGS BANKS 53

of the past four years by operating insured commercial banks not 

members of the Federal Reserve System.

Table 37. INTEREST R ec eived ON L oans AND ON SECURITIES AND INTEREST

P aid on T im e D eposits, 1934-19371

INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM 

OPERATING THROUGHOUT ENTIRE YEAR

1937 1936 1935 1934

Interest and discount received per $100 of loans.........

Interest and dividends received per $100 of securities.. 

Interest paid per $100 of time deposits........................

$5.92

3.44

1.92

$5.96

3.55

2.09

$5.75

3.51

2.28

$5.90 

3.77 

2 77

^sset and liability items are averages of figures for beginning, middle, and end of year in 1934, 

1935 and 1937; averages of end-of-month figures in 1936.

NOTE: More detailed figures for 1937 will be found in Tables 135-41, pages 146-59.

Insured M utual Savings Banks

On December 31,1937, the Federal Deposit Insurance Corporation 

was insuring deposits in 56 mutual savings banks. Total deposits in 

these banks amounted to $1 billion, of which about 90 percent are estimated to have been protected by insurance. Of these 56 banks, 11 had 

deposits of more than $10 million each and 45 had deposits of less than 

$10 million each. Two banks held more than one-half of the deposits. 

These 56 banks were located in 12 States. Due to the small number 

of banks, the variation in their size, the wide differences in geographic 

location and in conditions under which they were operating, the data 

relating to the insured mutual savings banks are not necessarily 

accurate indicators of the condition and operations of all mutual 

savings banks in the country.

Assets and capital of insured mutual savings banks. Total 

assets of the 56 insured mutual savings banks amounted to $1,141 

million on December 31, 1937, an increase of 1 percent during the 

year. Holdings of real estate mortgages, which represent about 

two-fifths of the assets of these banks, decreased slightly; real estate 

acquired through foreclosure or deed increased by almost an equal 

amount. Holdings of United States Government obligations increased about 6 percent, while holdings of other securities decreased 

by an equal percentage.

Since mutual savings banks have no capital stock, their total 

capital account consists chiefly of surplus and reserve accounts, built 

up from undistributed earnings. During 1937, total capital account 

of insured mutual savings banks increased by about $1.25 million', 

or 1 percent. At the end of 1937, total capital account was equal to 

13 percent of deposits, essentially the same as in insured commercial 

banks. Capital notes and debentures of $12.5 million in 25 banks

xThe condition reports show an increase of $1.66 million. The difference of $410,000 is the result 

of a change in accounting methods.

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

were owned by the Reconstruction Finance Corporation. During 

the year $80,000 of capital notes and debentures were retired. At 

the close of the year, the preferred capital was equal to 9 percent of 

the total capital account of all insured mutual savings banks. 

Table 116, page 107, gives comparative condensed balance sheets of 

the insured and noninsured mutual savings banks at the beginning 

and close of 1937.

Earnings, expenses, and disposition o f profits o f insured 

mutual savings banks. Gross current operating earnings of the 

56 insured mutual savings banks amounted to $42 million in 1937, 

or 1.5 percent more than in 1936. Current operating expenses, 

excluding interest and dividends to depositors, were about 10 percent 

higher than in 1936 and about 20 percent higher than in 1935. As 

a result, net current operating earnings, which amounted to $26 

million in 1937, were 3 percent less than in 1936. In 1937, recoveries 

and profits on assets sold decreased by approximately 11 percent, 

whereas losses increased about 37 percent. As a consequence, net 

profits available for distribution to depositors and for addition to 

capital funds were reduced approximately 23 percent.

About $19 million, or 92 percent of the net profits, were used to 

pay interest and dividends to depositors. The rate of return to 

depositors amounted to 1.9 percent compared with 2.0 percent in the 

preceding year and more than 2 percent in earlier years. Of the 

remaining profits, $1.25 million were added to capital funds and $0.5 

million were used to pay interest on and to retire capital notes and 

debentures held by the Reconstruction Finance Corporation. The 

earnings and expenses of the insured mutual savings banks in 1935, 

1936, and 1937 are given in Table 145, page 163.

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Federal Reserve Bank of St. Louis
PART THREE 

RESEARCH REPORTS

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Federal Reserve Bank of St. Louis
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Federal Reserve Bank of St. Louis
R esearch R eports

It is the policy of the Corporation to present in this section special 

studies prepared for the administrative use of the Corporation but 

which also possess general interest. No such studies are available 

for publication at this time.

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PART FOUR

LEGISLATION, REGULATIONS, AND INSTRUCTIONS

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Federal Reserve Bank of St. Louis
L egislation

No legislation affecting the Federal Deposit Insurance Corporation 

was enacted during 1937.

R egulations an d R ulings op the C orporation

No regulations regarding insured banks were issued by the Corporation during 1937. Regulation IV was amended on February 10,1937, 

to be effective the following day by the elimination of subsection 

(f) of section 1 and the addition to subsection (a) of section 2 of the 

following sentence: “Within this regulation any payment to or for 

the account of any depositor as compensation for the use of funds 

constituting a deposit shall be considered interest.” The amended 

regulation was published in the Annml Report of the Federal Deposit

Insurance Corporation for the year ending December 31, 1936, pages 

86 to 91.

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Federal Reserve Bank of St. Louis
PART FIVE

STATISTICS OF BANKS AND DEPOSIT INSURANCE

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STATISTICS OF BANKS AND DEPOSIT INSURANCE 65

EXPLANATORY NOTE 

Sources of Data

Except where otherwise noted all figures relating to operating insured banks 

were obtained from the following sources: national banks and State banks in 

the District of Columbia from the Comptroller of the Currency or the Board of 

Governors of the Federal Reserve System; State banks members of the Federal 

Reserve System from the Board of Governors of the Federal Reserve System; other 

insured banks not members of the Federal Reserve System from the banks themselves or from the records of the Federal Deposit Insurance Corporation. Data 

relating to noninsured banks were obtained from the Board of Governors of the 

Federal Reserve System, Polk's Bankers Encyclopedia, Rand McNally Bankers 

Directory, and State banking supervisory authorities.

For all classes of insured banks data relating to suspensions, receiverships, and 

mergers with aid of loans from the Federal Deposit Insurance Corporation were 

taken from the records of the Corporation.

Classification of Banks and Banking Offices

Insured banks include all banks insured by the Federal Deposit Insurance 

Corporation; noninsured banks include all banks not so insured.

Commercial banks include the following categories of banks:

All operating national banks;

All 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 and, in New Hampshire, guaranty savings 

banks;

All stock savings banks, excluding guaranty savings banks in New 

Hampshire;

Banks in conservatorship or operating under restrictions, provided they are 

authorized to and in fact do accept new deposits, regardless of the character 

of the restrictions imposed on the operations of the bank;

Such industrial and Morris Plan banks as operate under general banking 

codes or operate under the same codes of law as insured industrial banks;

Branches of foreign banks which engage in a general deposit business;

Cash depositories;

Private banks under State supervision, and such other private banks as 

are reported by reliable unofficial sources to be engaged in deposit banking;

All insured trust companies, even though not engaged in regular deposit 

banking;

Branches of American and foreign banks maintained in the possessions to 

do a general deposit business. (Where more than one branch is maintained 

by a given bank in any one possession the chief or central office is classified 

as a bank and the other offices as branches)

Mutual savings banks include all banks operating under special State banking 

codes applying to mutual savings banks, including all guaranty savings banks in 

New Hampshire. The classification of mutual savings banks conforms with that 

adopted by the Board of Governors of the Federal Reserve System except for one 

bank classified as a mutual savings bank by that Board which is insured and classified 

by the Federal Deposit Insurance Corporation as a commercial bank.

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

Branches include all offices, other than head offices, of banks operating more 

than one office at which deposits are received or checks cashed, and all offices, other 

than head offices, of insured trust companies not engaged in deposit banking. 

The term branch is used in accordance with the definition in paragraph (15), 

subsection (c) of section 12B of the Federal Reserve Act, which is as follows:

“ The term ‘branch* includes any branch bank, branch office, branch 

agency, additional office, or any branch place of business located in any 

State of the United States or in Hawaii, Alaska, Puerto Rico, or the Virgin 

Islands at which deposits are received or checks paid or money lent.”

Figures for operating banks do not include institutions in the following categories, 

though such institutions may perform many of the same functions as banks:

Banks which have suspended operations or have begun to close up their 

affairs, which have ceased to accept new deposits and are proceeding to liquidate 

their assets and pay off existing deposits, regardless of the amount of deposit 

liability still remaining and regardless of whether they are listed among operating banks or included in abstracts of condition of banks published by 

State banking authorities;

Building and loan associations, savings and loan associations, credit unions, 

personal loan companies, and similar institutions, chartered under special 

laws applying to such institutions or under general incorporations 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” ;

Noninsured Morris Plan companies, industrial banks, loan and investment 

companies, and similar institutions, not operating under general State banking 

codes, or under the same codes of law as similar institutions which have been 

admitted to insurance;

Noninsured trust companies not engaged in receiving deposits from the 

general public, regardless of whether they are listed among banks or included 

in abstracts of condition of banks published by State banking authorities;

Branches of foreign banks, and of private banks, which confine their business 

to foreign exchange dealings and do not receive “ deposits” as that term is 

commonly understood;

A few special institutions chartered under general banking laws, but operating 

as mortgage or investment companies and not engaged in deposit banking;

Federal Reserve banks and other banks, such as the Savings and Loan Bank 

of the State of New York, which operate as rediscount banks and do not accept 

deposits from the general public.

Deposits of Banking Offices

Deposit figures which appear in asset and liability tables are as of the dates 

indicated in the tables. Deposit figures for banks and banking offices which appear 

in Tables 111 to 114, inclusive, and which are used for classifying banks by size 

groups in Tables 104 to 107, inclusive, and in Table 109 consist of the following:

All insured banks. Average deposits during 1937 are averages of daily total 

deposit liabilities as reported on certified statements for assessment purposes. 

These deposit liabilities include, in addition to the usual deposits shown on the 

condition statement, outstanding drafts and uninvested trust funds held in the 

bank’s own trust department, and exclude a portion of cashiers’ and officers’ checks

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Federal Reserve Bank of St. Louis
EXPLANATORY NOTE 67

outstanding. It is estimated that total deposit liabilities for assessment purposes 

exceed total deposits as shown on the condition statement by less than 2 percent.

These figures are used for insured commercial and mutual savings banks, for 

unit banks and for banks operating branches.

All offices of insured banks operating branches. Head offices and branches 

of insured banks operating branches are classified in Tables 104 and 109 on 

the basis of total deposit liabilities as of December 31, 1937, as submitted in a 

special report by banks operating branches. Total deposits for each branch 

system correspond to the deposit figure shown on the bank's condition statement.

Noninsured banks. Average deposits are averages of figures for December 

31, 1936, June 30, 1937, and December 31, 1937. Figures for head offices and 

branches of noninsured banks operating branches are not available separately.

Earnings, Expenses, and Disposition of Profits of Insured Banks

Figures relating to earnings of insured banks are presented in Tables 131 to 145, 

inclusive.

Data relating to national banks and to State banks members of the Federal 

Reserve System differ from those published by the Comptroller of the Currency 

and the Board of Governors of the Federal Reserve System due to the inclusion 

in this report under current operating expenses of all depreciation on banking house, 

furniture and fixtures. Such depreciation is shown by the Comptroller of the Currency and the Board of Governors of the Federal Reserve System under losses 

and charge-offs.

In the case of insured banks not members of the Federal Reserve System only 

regularly recurring depreciation is included under current operating expenses; 

extraordinary charge-offs of banking house, furniture and fixtures are included 

with losses, charge-offs, and additions to valuation allowances.

The Banking Act of 1935 permitted the payment by insured banks of interest 

on demand deposits of public authorities accruing before August 24, 1937, but 

prohibited payment of such interest accruing after that date. Banks not members 

of the Federal Reserve System were instructed to report interest paid on these 

funds under the heading of “ other current operating expenses” . It is known that 

many banks reported such payments as “interest on time and savings deposits” . 

As a result the decrease for 1937 in the amount of “interest on time and savings 

deposits” in the face of an increase in the average amount of time deposits, is partly 

attributable to this error in the method of reporting. It is believed that the amount 

of interest on time deposits for 1936 is overstated by $1 to $1.5 million.

“ Interest and discount on borrowings” and “interest paid on capital notes and 

debentures” were not reported separately by insured mutual savings banks in 1935. 

Since the combined figures consisted almost entirely of the latter item, they have 

been presented under that category in Table 145.

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

NUMBER OF BANKING OFFICES

Table 101. NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES,

D e c e m b e r 31, 1935, D e c e m b e r 31, 1936, a n d D e c e m b e r 31, 1937*

United States 

including possessions

United States 

excluding possessions

Dec. 31, 

1935

Dec. 31, 

1936

Dec. 31, 

1937

Dec. 31, 

1935

Dec. 31, 

1936

Dec. 31, 

1937

ALL BANKING OFFICES

All banking offices—total........................ 19,312 19,203 19,050 19,218 19,109 18,958

Insured..................................................... 17,328 17,297 17,241 17,324 17,290 17,234

Noninsured................................................ 1,984 1,906 1,809 1,894 1,819 1,724

All banks—total..................................... 15,940 15,714 15,444 15,904 15,679 15,410

Insured.................................................. 14,182 14,029 13,853 14,179 14,025 13,849

Noninsured............................................ 1,758 1,685 1,591 1,725 1,654 1,561

All branches—total............................... 3,372 3,489 3,606 3,314 3,430 3,548

Insured.................................................. 3,146 3,268 3,388 3,145 3,265 3,385

Noninsured............................................ 226 221 218 169 165 163

COMMERCIAL BANKING OFFICES

Banking offices...................................... 18,622 18,516 18,364 18,528 18,422 18,272

Insured.................................................. 17,265 17,234 17,178 17,261 17,227 17,171

Members F. R. System: national...... 6,72k 6,788 6,7k8 6,72k 6,788 6,7k8

Members F. R. System: State.......... 1,956 2,08k 2,075 1,956 2,08k 2,075

Not members F. R. System............. 8,585 8,k67 8,855 8,581 8,k60 8,8k8

Noninsured............................................ 1,357 1,282 1,186 1,267 1,195 1,101

15,374 15,151 14,882 15,338 15,116 14,848

Insured.............................................. 14,126 18,973 13,797 14,123 13,969 13,793

Members F. R. System: national.. .. 

Members F. R. System: State.......

5,886 5,825 5,260 5,886 5,825 5,260

1,001 1,051

7,597

1,081 1,001 1,051 1,081

Not members F. R. System.......... 7,789 7,k56 7,786 7,598 7,k52

Noninsured........................................ 1,248 1,178 1,085 1,215 1,147 1,055

Unit banks....................................... 14,518 14,257 13,958 14,494 14,233 13,935

Insured........................................... 13,312 13,119 12,912 13,310 13,117 12,910

Members F. R. System: national..

Members F. R. System: State....

5,198 5,128 5,06k 5,198 5,128 5,06 k

856 898 922 856 898 922

Not members F. R. System....... 7,258 7,098 6,926 7,256 7,091 6,92 k

Noninsured..................................... 1,206 1,138 1,046 1,184 1,116 1,025

Banks operating branches............ 856 894 924 844 883 913

Insured........................................... 814 854 885 813 852 883

Members F. R. System: national.. 188 197 196 188 197 196

Members F. R. System: State.... lh5 158 159 lk5 158 159

Not members F. R. System....... k81 50k 580 k80 502 528

Noninsured..................................... 42 40 39 31 31 30

Branches.............................................. 3,248 3,365 3,482 3,190 3,306 3,424

Insured.............................................. 3,139 3,261 3,381 3,138 3,258 3,378

Members F. R. System: national.. .. 1,888 l,k08 l,k88 1,888 l,k08 l,k88

Members F. R. System: State....... 955 988 99k 955 988 99k

Not members F. R. System.......... 8U6 870 899 8k5 867 896

Noninsured........................................ 109 104 101 52 48 46

All offices of banks operating

branches....................................... 4,104 4,259 4,406 4,034 4,189 4,337

Insured........................................... 3,953 4,115 4,266 3,951 4,110 4,261

Members F. R. System: national..

Members F. R. System: State--

1,526 1,605 1,68k 1,526 1,605 1,68k

1,100 1,186 1,158 1,100 1,186 1,158

Not members F. R. System....... 1,827 1,87 k 1,4*9 1,825 1,869 i , m

Noninsured..................................... 151 144 140 83 79 76

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NUMBER OF BANKING OFFICES 69

Table 101. NUMBER AND CLASSIFICATION OF OPERATING BANKING OFFICES,

D e c e m b e r 31, 1935, D e c e m b e r 31, 1906, a n d D e c e m b e r 31, 19371—Continued

United States 

including possessions

United States 

excluding possessions

Dec. 31, 

1935

Dec. 31, 

1936

Dec. 31, 

1937

Dec. 31, 

1935

Dec. 31, 

1936

Dec. 31, 

1937

MUTUAL SAVINGS BANKING OFFICES

Banking offices....................................... 690 687 6 86 690 687 686

Insured.................................................. 63 63 63 63 63 63

Noninsured............................................ 627 624 623 627 624 623

Banks3.................................................. 566 563 562 566 563 562

Insured.............................................. 56 56 56 56 56 56

Noninsured........................................ 510 507 506 510 507 506

Unit banks....................................... 488 485 485 488 485 485

Insured........................................... 52 52 52 52 52 52

Noninsured..................................... 436 433 433 436 433 433

Banks operating branches............ 78 78 77 78 78 77

Insured........................................... 4 4 4 4 4 4

Noninsured..................................... 74 74 73 74 74 73

Branches.............................................. 124 124 124 124 124 124

Insured............................................... 7 7 7 7 7 7

Noninsured........................................ 117 117 117 117 117 117

All offices of banks operating

branches....................................... 202 202 201 202 202 201

Insured........................................... 11 11 11 11 11 11

Noninsured..................................... 191 191 190 191 191 190

*For explanation of classification of banking offices see NOTE on page 65. 

’Not members of the Federal Reserve System.

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

Table 102. ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF

B a n k in g Of f ic e s in t h e U n it e d St a t e s a n d P o s s e s s io n s D u r in g 1937

Insured

Total

Total

Members F. R. 

System Not

members

Noninsured

National State

F. R.

System

COMMERCIAL BANKING OFFICES

Number of offices, December 31, 1937... 

Number of offices, December 31, 1936...

18,364

18,516

17,178

17,234

6,748

6,733

2,075

2,034

8,355

8,467

1,186

1,282

Net change during year........................ -152 -56 +15 +41 -1 1 2 -96

Increase................................................

Banks beginning operations..............

Branches opened for business...........

246

63

183

228

46

182

92

7

85

18

1

17

118

38

80

18

17

1

Decrease............................................... 399 319 93 30 196 80

Banks ceding operations.................. 333 256 74 20 162 77

Branches discontinued....................... 66 63 19 10 34 3

Trust company not engaged in 

deposit banking admitted to 

insurance..................................... 1 1 1

Changes in classification: noninsured to insured.................. +36

+35

+ 1

- 2

+3 +33 -36

Banka. T ............... +3 +32 -35

+ 1

- 1

- 1

Changes in classification: insured to noninsured.......... - 1 + 2

Banks........................................... - 2 - 1 - 1 + 2

Branches........................................

Changes in classification among 

insured banks.......................... +17

+3

+14

+49 -6 6

Banks............................................. +45 -48

Branches........................................ +4 -18

COMMERCIAL BANKS

Number of banks, December 31, 1937... 

Number of banks, December 31, 1936...

14,882

15,151

13,797

13,973

5,260

5,325

1,081

1,051

7,456

7,597

1,085

1,178

Net change during year........................ -269 -176 -65 +30

1

-141 -93

Banks beginning operations............ 63 46 7 38 17

New banks1........................................ 62 46 7 1 38 16

Closed banks reopened................. 1 1

Banks ceasing operations................. 333 256 74 20 162 77

Suspended banks not reopened or 

succeeded....................................... 55 50 2 2 46 5

Restricted banks placed in receivership 

Merged with aid of FDIC loans—net 

decrease........................................

3 3

20 20 7 1 12

Others mergers, consolidations, and 

absorptions—net decrease............. 174 150 57 14 79 24

Other liquidations2............................. 81 36 8 3 25 45

Trustcompanynot engaged in deposit 

banking admitted to F.R.System

Changes in classification: noninsured to insured..................

1 1 1

+35

+7

+3

+23

+ 2

+3 +32

+7

-35

Insured State banks succeeding 

noninsured banks*...................... -7

Noninsured banks admitted to F. R. 

System........................................ +3 -3

Admitted to insurance:

Banks regularly operating at beginning of year........................ +23

+ 2

-23

Banks formerly operating under 

restrictions.............................. - 2

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NUMBER OF BANKING OFFICES

T able 102. A nalysis OP CHANGES IN NUMBER AND CLASSIFICATION OP

Banking Offices in the United States and Possessions D uring 1937— Cont’d

Insured

Total

Total

Members F. R. 

System Not

members

Noninsured

National State

F. R.

System

COMMERCIAL BANKS—Cont’d.

Changes in classification: inSt?red to nnrfirisiirad............... - 2 - 1 - 1 + 2

+ 1

+ 1

Noninsured bank succeeding na-

- 1 - 1

- 1 - 1

Changes in classification among 

insured banks.......................... +3

+19

+45 -48

National banks succeeding State 

banks4......................................... -7 -1 2

Insured State banks succeeding 

national banks5........................... -16 + 2 +14

-56

Insured banks admitted to F. R.

+56

- 6

Withdrawals from F. R. System ............. .............

+ 6

Successions and reopenings not 

involving changes in number 

or class....................................... 3 17 4

Banks suspended and reopened® 1 1 1

Restricted bank placed in liquidation and succeeded................... 1

Successions not involving changes 

in classification7.......................... 2 16 2

BRANCHES OF COMMERCIAL BANKS

Number of branches, December 31, 1937 

Number of branches, December 31, 1936

3,482

3,365

3,381

3,261

1,488

1,408

994

983

899

870

101

104

Net change during year........................ +117 + 1 2 0 +80 + 1 1 +29 -3

Branches opened for business.........

New branches established8................

Banks converted into branches as 

result of mergers, consolidations, 

and absorptions..........................

183

93

90

182

92

90

85

29

56

17

6

11

80

57

23

1

1

Branches ceasing operations...........

Branches of banks suspended.........

66

3

63

3

19 10 34

3

3

Branches discontinued...................... 63 60 19 io 31 3

Changes in classification: noninsured to insured.................. + 1

+ 1

+ 1

+ 1

-18

- 1

Branches of banks admitted to insurance ....................................... - 1

Changes in classification among 

Insured hanks.......................... +14

- 2

+4

+ 2

-7

Branches of State banks succeeding 

national banks............................

Branches of national banks succeeding State banks......... +7

Branches of insured State banks 

admitted to F. R. System.......... + 1 1

- 2

-1 1

Branches transferred as result of 

mergers, consolidations, or absorptions ..................................... +9 -7

Changes not involving number or 

classification............................ 1 5

Branches transferred as result of 

mergers, consolidations, or absorptions ...................... ............. 1 5

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

T able 102. ANALYSIS OF CHANGES IN NUMBER AND CLASSIFICATION OF

B an k in g Offices in the U n ited States and P ossessions D urin g 1937—Cont’d

Total

Insured

Total

National State

Members F. R. 

System Not 

members 

F. R. 

System

Noninsured

MUTUAL SAVINGS BANKING 

OFFICES

Number of offices, December 31, 1937... 

Number of offices, December 31, 1936...

Net change during year........................

MUTUAL SAVINGS BANKS

Number of banks, December 31, 1937... 

Number of banks, December 31, 1936...

Net change during year........................

Banks ceasing operations—absorbed

BRANCHES OF MUTUAL SAVINGS 

BANKS

Number of branches, December 31, 1937 

Number of branches, December 31, 1936

Net change during year...

Branches established .. 

Branches discontinued.

686

687

-1

562

563

-1

-1

124

124

63

63

63

63

56

56

56

56

623

624

-1

506

507

-1

-1

117

117

+3 +3—3

includes 3 noninsured banks opened prior to 1937 and 1 industrial bank formerly operating as a 

Morris Plan Company which were not included in count of commercial banks at the beginning of the 

year.

includes 10 noninsured banks which were placed in liquidation or which ceased to operate as banks 

of deposit prior to 1937 but were included in count of commercial banks at the beginning of the year.

includes 3 private banks which were incorporated, 1 bank organized to take over 2 private banks, 

1 bank which succeeded a bank operating under restrictions, and 2 other banks which reorganized under 

new charters, at time of admission to insurance.

includes 1 case of a loan by FDIC to facilitate merger of an insolvent bank.

includes 1 case of a loan by FDIC to facilitate merger of an insolvent bank, and 1 newly chartered 

bank resulting from consolidation.

‘Includes 1 suspended insured bank reopened with the aid of a loan by FDIC.

Uncludes 2 cases of FDIC loans to facilitate mergers of insolvent banks, 9 cases of renewals of 

expiring charters, 1 newly chartered bank resulting from consolidation, and 8 other banks reorganized 

under new charters.

includes 2 branches replacing cooperative banks (not previously included in count of commercial 

banks), and 9 branches replacing banks which had suspended or had been placed in liquidation.

Back figures—See the following Annual Reports: 1936, pp. 102-04; 1935, pp. 144-46; 1934, p. 177.

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Federal Reserve Bank of St. Louis
Table 103. NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1937

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS

All banking offices Commercial banking offices Mutual savings banking 

offices

Insured banking offices 

as percent of—

Total Insured Noninsured Total

Insured

Noninsured Total Insured Noninsured

... Com- Mutual 

. ,. mercial savings 

banking bankincr banking Total

Members F. R. 

System

Not 

members 

F. R. National State System

offices offices offices

United States and possessions—total........ 19,050 17,241 1,809 18,364 17,178 6,748 2,075 8,355 1,186 6 86 63 623 90.5 93.5 9.2

All banks........................................................ 15,444 13,853 1,591 14,882 13,797 5,260 1,081 7,456 1,085 562 56 506 89.7 92.7 1 0.0

Unit banks................................................. 14,44* 12,964 1,479 13,958 12,912 5,064 922 6,926 1,046 485 52 433 89.8 92.5 10.7

Banks operating branches.......................... 1,001 889 112 924 885 196 159 530 39 77 4 73 88.7 95.8 5.1

Branches........................................................ 3,606 3,388 218 3,482 3,381 1,488 994 899 101 124 7 117 93.9 97.1 5.6

United States.............................................. 18,958 17,234 1,724 18,272 17,171 6,748 2,075 8,348 1,101 686 63 623 90.9 94.0 9.2

All banks.................................................... 15,410 13,849 1,561 14,848 13,793 5,260 1,081 7,452 1,055 562 56 506 89.9 92.9 1 0.0

Unit banks............................... .............. 14,420 12,962 1,458 13,935 12,910 5,06^ 922 6,924 1,025 485 52 433 89.9 92.6 10.7

Banks operating branches...................... 990 887 103 913 883 196 159 528 30 77 4 73 89.5 96.7 5.1

Branches.................................................... 3,548 3,385 163 3,424 3,378 1,488 994 896 46 124 7 117 95.4 98.7 5.6

Possessions.................................................. 92 7 85 92 7 7 85 7.6 7.6

All banks.................................................... 34 4 30 34 4 4 30 11.8 11.8

Unit banks............................................. 23 2 21 23 2 2 21 8.7 8.7

Banks operating branches...................... 11 2 9 11 2 2 9 18.2 18.2

Branches.................................................... 58 3 55 58 3 3 55 5.2 5.2

State

Alabama................................................... 238 229 9 238 229 72 17 140 9 96.2 96.2

All banks................................................ 217 208 9 217 208 66 16 126 9 95.9 95.9

Unit banks......................................... 214 205 9 214 205 65 15 125 9 95.8 95.8

Banks operating branches.................. 3 8 3 3 1 1 1 100.0 100.0

Branches................................................ 21 21 21 21 6 1 14 1 0 0 .0 100 .0

Arizona..................................................... 37 37 37 37 25 2 10 1 00 .0 100.0

All banks................................................ 12 12 12 12 5 2 5 1 00 .0 100 .0

Unit banks.......................................... 8 8 8 8 s 2 3 100.0 100.0

Banks operating branches.................. 4 A 4 L 2 2 100.0 100.0

Branches................................................ 25 25 25 25 20 5 1 00 .0 100.0

Arkansas.................................................. 236 227 9 236 227 51 8 168 9 96.2 96.2 All banks................................................ 221 2 12 9 221 2 12 50 7 155 9 95.9 95.9

Unit banks......................................... 207 198 9 207 198 49 6 143 9 95.7 95.7

Banks operating branches.................. 14 14 14 14 1 1 12 100.0 100.0 Branches................................................. 15 15 15 15 1 1 13 1 0 0 .0 100 .0

NUMBER OF BANKING OFFICES

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Federal Reserve Bank of St. Louis
Table 103. N umber of Operating Banking Offices, December 31, 1937— Continued

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS

Mutual savings banking Insured banking offices 

offices as percent of—

California..............................

All banks.............................

Unit banks.................

Banks operating branches. 

Branches..............................

Colorado................................

All banks.............................

Unit banks.................

Banks operating branches. 

Branches..............................

Connecticut..........................

All banks.............................

Unit banks.................

Banks operating branches. 

Branches..............................

Delaware................................

All banks.............................

Unit banks.................

Banks operating branches.

Branches..............................

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

All banks.............................

Unit banks.................

Banks operating branches.

Branches..............................

Florida...................................

All banks.............................

Unit banks.................

Banks operating branches. 

Branches..............................

All banking offices

Total

1,067

213

177

36

854

147

147

U7

207

194

187

7

13

62

48

41

7

14

52221111

30

163

161

1601

2

Insured

1,059

206

171

35

853

138

138

138

110

103

98

5

7

57

44886

13

52221111

30

158

158

158

Noninsured

Commercial banking offices

Total

1,067

213

17786

854

147

147

147

133 121

1156

12

59

46

406

13

52221111

30

163

161

1601

2

Insured

Total

1,059

206

171

35

853

138

138

138

110

103

98

5

7

57

44

386

13

52221111

30

158

158

158

Members F. R. 

System

National State

784

103

9310

681

78

78

78

26

9

4

5

17

53

53

53

Not I __ 

members . Nonp r insured

System

148

14

7

7

134

101010

127

89

71

18

38

50

50

50

46

44

431

2

35

2420

4

11

17

9

5

4

8

101101101

Total Insured Noninsured

... Com- Mutual 

, A.11. Imercial | savings 

banking banking banking 

offices offices offices

99.3 99.3

96.7 96.7

96.6 96.6

97.2 97.2

99.9 99.9

93.9 93.9

93.9 93.9

93.9 93.9

53.1

53.1

524 714

53.8

91.9

91.7

92.7

85.7

92.9

100.0 100.0 100.0 100.0 100.0

96.9

98.1

98.8

82.7

85.1

85.2

83.3

58.3

96.6

95.7

95.0 100.0 100.0

100.0 100.0 100.0 100.0 100.0

96.9

98.1

98.8

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Georgia..................................

All banks.............................

Unit banks.......................

Banks operating branches.

Branches..............................

Idaho......................................

All banks.............................

Unit banks......................

Banks operating branches.

Branches..............................

Illinois....................................

All banks.............................

Unit banks.......................

Banks operating branches. 

Branches..............................

372

346

88511

26

83

52 U66

31

872

872

872

287

264

2559

81

50U6

31

856

856

856

372

346

88511

26

83

52U66

31

872

872

872

287

264

255

81

50U6

31

856

856

856

69 28

54 23

51 20 8 8

15 5

36 23

20 10

16

9

U

1

16 13

314 74

314 74

81U 7U

134 26

126 14

120 18

6 1

8 12

111 31

111 31

111 81

186 17

186 17

186 17

117 14

99 12

96 10 8 2

182

57 7

306

2U

5

6 1

27

1

190

187

18U83

2220

1912

468

468 A 68

16

16

16

77.2 ! 77.2

76.3 76.3

76.1 76.1

81.8 81.8

88.5 88.5

97.6 97.6

96.2 96.2

95.7 95.7

100.0 100.0

1 00 .0 100 .0

98.2 98.2

98.2 98.2

98.2 98.2

94.3 94.4

93.8 94.0

98.6 98.7

97.1 97.1

98.2 98.2

89.3 89.3

8 8 .0 8 8 .0

86.6 86.6

95.U 95.U

95.2 95.2

6 6 .1 6 6.1

6 6 .1 6 6.1

66.1 66.1

90.1 90.1

89.4 89 4

89.0 89.0

100.0 100.0

100 .0 100 .0

99.0 99.0

98.6 98.6

98.8 98. S

100.0 100.0,

100 .0

1

100 .0

Indiana..................................

AlHbanks.............................

Unit banks.......................

Banks operating branches.

Branches..............................

Iowa........................................

All banks.............................

Unit banks.......................

Banks operating branches. 

Branches..............................

Kansas...................................

All banks.............................

Unit banks.......................

Banks operating branches. 

Branches..............................

575

519 m

85

56

814

669

560

109

145

691

691

691

542

487

U588U

55

727

589 

U85 10 k

138

457

457

U57

33

32

8111

87

80

7557

234

234

28k

570

514

U79

85

56

814

669

560

109

145

691

691

691

538

483

U98Jt

55

727

589 

U85 10 U

138

457

457

U57

378

343

816

27

35

585

447

81*8 10U

138

254

254

25U

32

318011

87

80

7557

234

234 28b

80.0

80.0

80.0

Kentucky...............................

All banks.............................

Unit banks.......................

Banks operating branches. 

Branches..............................

Louisiana...............................

All banks.............................

Unit banks.......................

Banks operating branches.

Branches..............................

453

424 M01U

29

200

147 120

27

53

408

379

865U

29

198

145

118

27

53

453

424 U101U

200

147 120

27

53

408

379

8651U

29

198

145

118

27

53

277

268

25999

134

109

8920

25

NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. N umber OP Operating Banking Offices, December 31, 1937— Continued

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS

All banking offices Commercial banking offices Mutual savings banking 

offices

Insured 

as ]

L banking offices 

percent of—

Insured Commercial

banking

offices

Mutual

savings

banking

offices

Total Insured Noninsured Total

Total

Members F. R. 

System

Not

members Noninsured Total Insured Noninsured

All

banking

National State F. R.

System

offices

Maine........................................................ 161 119 42 127 113 43 31 39 14 34 6 28 73.9 89.0 17.6

All frank??, . , . T ........... . . . ..................... 102 67 35 70 61 39 5 17 9 32 6 26 65.7 87.1 18.8

Unit banka................................ 80 51 29 50 U5 86 1 8 5 80 6 2U 68.8 90.0 20.0

Banka operating branches............... 22 16 6 20 16 8 u 9 u 2 2 72.7 80.0

Branches................................................. 59 52 7 57 52 4 26 22 5 2 2 8 8 .1 91.2

Maryland.................................................. 287 259 28 259 257 70 55 132 2 28 2 26 90.2 99.2 7.1

All banks................................................ 195 183 12 183 181 63 11 107 2 12 2 10 93.8 98.9 16.7

Unit banks................................ 170 160 10 160 158 61 5 92 2 10 2 8 9U.1

92.0

9S.8 20.0

Banks operating branches.............. 25 28 2 28 28 2 6 15 2 2 100.0

Branches................................................. 92 76 16 76 76 7 44 25 16 16 82.6 100 .0

Massachusetts......................................... 539 308 231 314 308 190 66 52 6 225 225 57.0 98.1

All banks................................................ 392 194 198 199 194 127 29 38 5 193 193 49.5 97.5

Unit banks................................ 827 158 m

2h

158 158 109 15 29 5 169 169 U6.9

62.1

96.8

Banka operating branches.............. 65 hi U1 Ul

114

18 1U 9 2U

32

2U

32

100.0

Branches................................................. 147 114 33 115 63 37 14 1 77.0 99.1

Michigan.................................................. 639 597 42 639 597 139 174 284 42 93.4 93.4

All banks................................................ 477 438 39 477 438 83 118 237 39 91.8 91.8

Unit banks................................ U29

U 8

898 86 U29 898 70 107 216 86 91.6 91.6

Banks operating branches.............. U 5 8 U8 U5 18 11 21 8 98.8 98.8

Branches................................................. 162 159 3 162 159 56 56 47 3 98.1 98.1

Minnesota................................................ 694 656 38 693 655 201 12 442 38 1 1 94.5 94.5 100.0

All banks................................................ 688 650 38 687 649 195 12 442 38 1 1 94.5 94:5 100.0

Unit banka................................ 686 6U8

2

88 685 6U7 198 12 U 2 88 1 1 9 h.5

100.0

1 00 .0

95.2

9 b.5

100.0

100.0

100.0

Banka operating branchea.............. 2 2 2 2

Branches ............................................... 6 6 6 6 6

Mississippi............................................... 252 240 12 252 240 26 3 211 12 95.2

All banks................................................ 208 196 12 208 196 25 3 168 12 94.2 94.2

Unit banks................................ 18U

2k

172 12 18U 172 2U 8 1U5 12 98.4

100.0

98.U

Banka operating branchea.............. 2U 100.0

44

2U 2h 1 28

Branches................................................. 44 44 44 1 43 1 00 .0

93.4

1 00 .0

Missouri.................................................... 650 607 43 650 607 86 55 466 43 93.4

All banks................................................ 650 607 43 650 607 86 55 466 43 93.4 93.4

Unit banka................................ 650 607 1*8 650 607 86 55 U66 us 98.U 98.U

Banka operating branchea..............

Branches.................................................

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Montana................................

All banks..............................

Unit banks.......................

Banks operating branches.

Branches..............................

115 115 115 115

115 115 115 115

115 115 115 115

433 375 58 433 375

431 373 58 431 373

U29 371 58 429 371

2 2 2 2

2 2 2 2

20 19 1 20 19

9 8 1 9 8

7 6 1 7 6

2 2 2 2

11 11 11 11

111 57 54 66 57

108 56 52 64 56

105 55 50 62 55

3 1 2 2 1

3 1 2 2 1

532 512 20 503 496

408 390 18 383 376

353 336 17 331 32U

55 5U 1 52 52

124 122 2 120 120

47 46 1 47 46

41 40 1 41 40

37 36 1 37 36

U U U U

6 6 6 6

1,587 1,386 201 1,405 1,383

901 747 154 767 745

776 660 116 679 659

125 87 38 88 86

686 639 47 638 638

345 336 9 345 336

235 228 7 235 228

19 U 188 6 194 188

hi uo 1 Ul UO

110 108 2 110 108

201 187 14 201 187

187 173 14 187 173

175 161 lh 175 161

12 12 12 12

14 14 14 14

Nebraska................................

All banks.............................

Unit banks.......................

Banks operating branches.

Branches..............................

Nevada...................................

Ail banks.............................

Unit banks.......................

Banks operating branches. 

Branches..............................

New Hampshire....................

All banks.............................

Unit banks.......................

Banks operating branches. 

Branches..............................

New Jersey............................

All banks.............................

Unit banks.......................

Banks operating branches.

Branches..............................

New Mexico...........................

All banks..............................

Unit banks.......................

Banks operating branches. 

Branches..............................

New York...............................

All banks.............................

Unit banks.......................

Banks operating branches.

Branches..............................

North Carolina.....................

All banks..............................

Unit banks........................

Banks operating branches.

Branches..............................

North Dakota........................

All banks..............................

Unit banks........................

Banks operating branches. 

Branches..............................

43 24 48

43 24 48

us 2U U8

138 12 225 58

136 12 225 58

13 U 12 225 58

2

2

16 3 1

5 3 1

3 3 1

2

11

53 1 3 9 45 45

52 1 3 8 44 44

51 1 3 7 U3 US 1 1 1 1

1 1 1 1

261 117 118 7 29 16 13

229 54 93 7 25 14 11

212 31 81 7 22 12 10

17 23 12 3 2 1

32 63 25 4 2 2

22 4 20 1

22 4 14 1

22 u 10 1

u

6

631 508 244 22 182 3 179

443 124 178 22 134 2 132

U15 8U 160 20 97 1 96

28 uo 18 2 37 1 36

188 384 66 48 1 47

49 16 271 9

43 9 176 7

Ul 7 1U0 6

2 2 36 1

6 7 95 2

55 132 14

55 118 14

55 106 1U

12

14

100.0 100.0 100.0

100.0 100.0 100.0

86.6

86.5

86.5 100.0 100.0

95.0

88.9 

85.7 100.0 100.0

51.4

51.9

524 55.3

33.3

96.2

95.6

95.2

98.2

98.4

97.9

97.6

97.3 100.0 100.0

87.3

82.9

85.1

69.6

93.1

97.4

97.0

96.9

97.6

98.2

93.0

92.5

92.0 100.0 100.0

86.6

86.5

86.5 100.0 100.0

95.0

88.9

88.7 100.0 100.0

86.4

87.5

88.7

50.0

50.0

98.6

98.2

97.9 100.0 100.0

97.9

97.6

97.3 100.0 100.0

98.4

97.1

97.1

97.7 100.0

97.4

97.0

96.9

97.6

98.2

93.0

92.5

92.0 100.0 100.0

55.2

56.0 

5U.5

66.7

50.0

1.6

1.5 1.0

2.7 2.1

NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 103. N umber of Operating Banking Offices, December 31, 1937— Continued

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK AND TYPE OF OFFICE IN EACH STATE AND IN THE POSSESSIONS

All banking offices Commercial banking offices Mutual savings banking 

offices

Insured banking offices 

as percent of—

Insured Commercial

banking

Mutual

savings

Total Insured banking Noninsured Total Total

Members F. R. 

System

Not 

members 

F. R. 

System

Noninsured Total Insured Noninsured

All

banking

offices National State offices offices

Ohio........................................................... 885 866 19 882 863 283 195 385 19 3 3 97.9 97.8 100.0

710 691 19 707 6 88 248 78 362 19 3 3 97.3 97.3 100.0

678 65U

87

175

19 670 651 2U0 65 8U6 19 8 3 97.2 97.2 100.0

87

175

400

400

87

175

87 8 18 16 100.0 100.0

175 35 117 23 100 .0 1 00 .0

384

384

16 400 384 216 5 163 16 96.0 96.0

16 400 384 216 5 163 16 96.0 96.0

Unit banks uoo 88U 16 UOO 38U 216 5 168 16 96.0 96.0

Oregon...................................................... 142 140 2 141 139 92 5 42 2 1 1 98.6 98.6 100.0

All banks ................................................. 76 74 2 75 73 28 5 40 2 1 1 97.4 97.3 100.0

Unit banks.......................................... 72 70 2 71 69 26 5 38 2 1 1 97.2 97.2 100.0

Banks operatinQ branches L L A L 2 2 100.0 100.0

Brancbes 66

1,218

1 ,1 0 2

1,053

U9

116

66

1,169

1,070

66 66 64 2 100.0 1 00 .0

Pennsylvania........................................... 49 1,198 1,167 738 119 310 31 20 2 18 96.0 97.4 10.0

All banks................................................ 32 1,095 1,068 697 78 293 27 7 2 5 97.1 97.5 28.6

Unit banks.......................................... 1,027

US

99

26 1,050

U5

103

1,025

us

99

678 65 282 25 8 2 1 97.5 97.6 66.7

Banks operating branches 6 19 18 11 2 A U 87.8 95.6

Branches .. . . .. 17 41 41 17 4 13 13 85.3 96.1

Rhode Island .................................... 72 44 28 61 44 20 21 3 17 11 11 61.1 72*1

All banks .. . ............ 32 16 16 23 16 12 2 2 7 9 9 50.0 69.6

Unit banks . . .......................... 20 10 10 12 10 9 1 2 8 8 50.0 83.8

Banks operatinQ branches 12

40

6 6 11 6 S 2 1 5 1 1 50.0 5U.5

Branches .................................... 28 12 38 28 8 19 1 10 2 2 70.0 73.7

South Carolina 173 134 39 173 134 35 5 94 39 77.5 77.5

All banks 150

1U87

111

10 A7

39 150 111 20 4 87 39 74.0 74.0

Unit banks • • 89 1U87

10 U7

19 8 82 39 72.7 72.7

Banks operating branches 1 1 5 100.0 100.0

Branches 23 23

202

180

1719

23 23 15 1 7 1 00 .0 1 00 .0

finnth Dakotfi 203

181

1729

1 203 2 0 2 64 21 117 1 99.5 99.5

All banks ,,, , 1 181 180 47 21 112 1 99.4 99.4

Unit banks . .,, 1 172 171 us

L

21 107 1 99.U 99.U

Banks ojjeratinQ branches 9 9 5 100.0 100.0

Branches • . ... 22 22 22 22 17 5 1 00 .0 1 00 .0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Tennessee..............................

All banks..............................

Unit banks........................

Banks operating branches.

Branches..............................

Texas.......................................

All banks.............................

Unit banks........................

Banks operating branches.

Branches..............................

Utah.......................................

All banks..............................

Unit banks........................

Banks operating branches.

Branches..............................

Vermont................. ..............

All banks..............................

Unit banks........................

Banks operating branches.

Branches..............................

Virginia..................................

All banks..............................

Unit banks........................

Banks operating branches.

Branches..............................

Washington...........................

All banks..............................

Unit banks........................

Banks operating branches.

Branches..............................

West Virginia........................

All banks.............................

Unit banks........................

Banks operating branches.

Branches..............................

Wisconsin..............................

All banks..............................

Unit banks........................

Banks operating branches.

Branches..............................

Wyoming..............................

All banks............................

Unit banks......................

Banks operating branches

Branches

355

304

28420

51

884

884

884

71

59

545

12

105

89

809

16

388

321

282

227

161

1529

66

184

183

18211

711

598

524

74

113

58

58

58

347

296

27620

51

793

793

793

71

59

545

12

105

89

809

16

387

320

281

39

67

221

155

1469

66

176

175

17411

695

583

510

73 112

58

58

58

355

304 28420

51

884

884

884

71

59

545

12

87

75

678

12

388

39

67

224

158

1499

66

184

183

18211

707

594

520

74

113

58

58

58

347

296

27620

51

793

793

793

71

59

545

12

87

75

678

12

387

320

281

39

67

218

152

1439

66

176

175

17411

691

579

506

73 112

58

58

58

Back figures—See the following Annual Reports: 1936, p. 105; 1935, pp. 122-131.

89

72684

17

453

453

453

22

13 1039

44

42

4022

146

132

1266

14

113

50

44

79

79

79

118

105 1023

13

26

26

26

242

218

203

15

24

289

289

289

10

212

164

133

31

48

84

82

8022

78

77

7611

541

448

38266

93

23

23

23

18

14

1314

97.7 

97.4

97.2 100.0 100.0

89.7

89.7

89.7

100.0 100.0 100.0 100.0 100.0

100.0 100.0 100.0 100.0 100.0

99.7

99.7

99.6 100.0 100.0

97.4

96.3

96.1 100.0 100.0

95.7

95.7

95.6 100.0 100.0

97.7

97.5

97.3

98.6

99.1

100.0 100.0 100.0

97.7 

97.4 

97.2 100.0 100.0

89.7

89.7

89.7

100.0 100.0 100.0 100.0 100.0

100.0 100.0 100.0 100.0 100.0

99.7

99.7

99.6 100.0 100.0

97.3

96.2

96.0

100.0 100.0

95.7

95.7

95.6 100.0 100.0

97.7

97.5

97.3

98.6

99.1

100.0 100.0 100.0

100.0 100.0 100.0 100.0 100.0

100.0 100.0 100.0

100.0 100.0 100.0

<1

<x>NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 104. NUMBER OF OPERATING BANKING OFFICES, DECEMBER 31, 1937

INSURED AND NONINSURED OFFICES GROUPED BY CLASS OF BANK, TYPE OF OFFICE, AND AMOUNT OF DEPOSITS

All banking offices Commercial banking offices

Total Insured Noninsured Total

Insured

Noninsured Total Insured Noninsured Total

Members F. R. 

System Not 

members 

F. R.

National State System

19,050 17,241 1,809 18,364 17,178 6,748 2,075 8,355 1,186 686 63 623

1,108 785 323 1,107 785 35 11 739 322 1 1

3,203 2,876 327 3,199 2,874 422 97 2,355 325 4 2 2

3,769 3,594 175 3,762 3,591 1,160 232 2,199 171 7 3 4

3,575 3,454 121 3,547 3,447 1,642 381 1,424 100 28 7 21

2,829 2,743 86 2,769 2,729 1,485 435 809 40 60 14 46

2,123 1,971 152 1,990 1,958 1,141 437 380 32 133 13 120

773 669 104 660 657 382 179 96 3 113 12 101

563 430 133 433 424 259 121 44 9 130 6 124

122 107 15 102 101 62 36 3 1 20 6 14

985 612 373 795 612 160 146 306 183 190 190

14,443 12,964 1,479 13,958 12,912 5,064 922 6,926 1,046 485 52 433

915 592 323 914 592 29 8 555 322 1 1

2,855 2,528 327 2,851 2,526 392 68 2,066 325 4 2 2

3,364 3,189 175 3,358 3,187 1,006 182 1,999 171 6 2 4

2 ,8 8 6 2,765 121 2,859 2,759 1,314 215 1,230 100 27 6 21

2,033 1,947 86 1,976 1,936 1,087 166 683 40 57 11 46

1,448 1,296 152 1,315 1,283 810 168 305 32 133 13 120

496 392 104 385 382 253 67 62 3 111 10 101

351 218 133 223 214 150 39 25 9 128 4 124

51 36 15 33 32 23 9 1 18 4 14

44 1 43 44 1 1 43

4,607 4,277 330 4,406 4,266 1,684 1,153 1,429 140 201 11 190

193 193 193 193 6 3 184

348 348 348 348 30 29 289

405 405 404 404 154 50 2 00 i i i

Mutual savings banking 

offices

All banking offices.....................................

Banking offices with deposits of— 1

$1 0 0 ,0 0 0 and under...................................

$100,000 to $250,000.................................

$250,000 to $500,000.................................

$500,000 to $1,000,000..............................

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ...........................

$2,000,000 to $5,000,000..........................

$5,000,000 to $10,000,000.........................

$10,000,000 to $50,000,000.......................

Over $50,000,000.......................................

None or not available................................

Unit banks...............................................

Banking offices with deposits of— 1

$1 00 ,00 0 and under................................

$100,000 to $250,000.............................

$250,000 to $500,000.............................

$500,000 to $1,000,000..........................

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .......................

$2 ,0 0 0 ,0 0 0 to $5 ,0 0 0 ,0 0 0 .......................

$5,000,000 to $10,000,000.....................

$10,000,000 to $50,000,000...................

Over $50,000,009...................................

None or not available............................

All offices of banks operating branches 

Banking offices with deposits of— 1

$1 0 0 ,0 0 0 and under................................

$100,000 to $250,000.............................

$250,000 to $500,000.............................

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
$500,000 to $1,000,000..........................

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .......................

$2,000,000 to $5,000,000.......................

$5,000,000 to $10,000,000.....................

$10,000,000 to $50,000,000...................

Over $50,000,000...................................

None or not available............................

Head offices of banks operating

branches.......................................

Banking offices with deposits of— 1

$1 0 0 ,0 0 0 and under...............................

$100,000 to $250,000.............................

$250,000 to $500,000.............................

$500,000 to $1,000,000..........................

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .......................

$2,000,000 to $5,000,000.......................

$5,000,000 to $10,000,000.....................

$10,000,000 to $50,000,000...................

Over $50,000,000...................................

None or not available............................

Branches..................................................

Banking offices with deposits of— 1

$1 00 ,00 0 and under...............................

$100,000 to $250,000.............................

$250,000 to $500,000.............................

$500,000 to $1,000,000..........................

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .......................

$2,000,000 to $5,000,000.......................

$5,000,000 to $10,000,000.....................

$10,000,000 to $50,000,000...................

Over $50,000,000...................................

None or not available............................

689 689

796 796

675 675

277 277

212 212

71 71

941 611

1,001 889

9 9

61 61

90 90

99 99

78 78

93 93

94 94

102 102

57 57

318 206

3,606 3,388

184 184

287 287

315 315

590 590

718 718

582 582

183 183

110 110

14 14 ; 623 | 405

330

112

112

218

218

688 688 328 166 194

793 793 398 269 126

675 675 331 269 75

275 275 129 112 34

210 210 109 82 19

69 69 39 27 3

751 611 160 146 305

924 885 196 159 530

9 9 9

61 61 1 60

90 90 90

99 99 6 1 92

78 78 6 6 66

93 93 31 23 39

92 92 43 28 21

101 101 47 39 15

56 56 30 23 3

245 206 33 38 135

3,482 3,381 1,488 994 899

184 184 6 3 175

287 287 30 28 229

314 314 154 50 110

589 589 322 165 102

715 715 392 263 60

582 582 300 246 36

183 183 86 84 13

109 109 62 43 4

13 13 9 4

506 405 127 108 170

140

39

39

101

101

190

77

2

1

1

73

124

1

1

117

190

73

73

117

117

^Deposits of insured unit banks are averages of daily figures for the year: deposits of noninsured unit banks are averages of figures for December 31, 1936, June 30, 1937, 

and .December 81, 1937; deposits of all offices of insured banks operating branches are as of December 81, 1937; and deposits of all offices of noninsured banks ODeratine branches are not available.

Back figures—See the Annual Report for 1936, p. 112.

NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 105. NUMBER OP OPERATING BANKS, DECEMBER 31, 1937

INSURED AND NONINSURED BANKS GROUPED BY CLASS OP BANK, TYPE OP BANK, AND AMOUNT OP DEPOSITS

All banks

Total Insured Noninsured

15,444 13,853 1,591

921 598 323

2,890 2,562 328

3,490 3,308 182

3,038 2,913 125

2,162 2,065 97

1,574 1,407 167

624 509 115

538 367 171

162 123 39

45 1 44

14,443 12,964 1,479

915 592 323

2,855 2,528 327

3,364 3,189 175

2 ,8 8 6 2,765 121

2,033 1,947 86

1,448 1,296 152

496 392 104

351 218 133

51 36 15

44 1 43

Commercial banks

Total

Insured

Total

Members P. R. 

System

Not 

members 

F. R. 

System

National

State

13,797 5,260 1,081 7,456

598 29 8 561

2,560 392 69 2,099

3,306 1,006 183 2,117

2,907 1,318 216 1,373

2,054 1,097 171 786

1,394 836 187 371

498 307 103 88

361 211 95 55

118

1

64 49 5

1

12,912 5,064 922 6,926

592 29 8 555

2,526 392 68 2,066

3,187 1,006 182 1,999

2,759 1,314 215 1,230

1,936 1,087 166 683

1,283 810 168 305

382 253 67 62

214 150 39 25

32

1

23 9

1

i

Noninsured

Mutual savings banks

Total Insured Noninsured

Insured banks as 

percent of—

All

banks

Commercial

banks

Mutual

savings

banks

All banks.....................................

Banks with deposits of— 1

$1 0 0 ,0 0 0 and under...................

$100,000 to $250,000................

$250,000 to $500,000................

$500,000 to $1,000,000..............

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ...........

$2,000,000 to $5,000,000..........

$5,000,000 to $10,000,000.........

$10,000,000 to $50,000,000____

Over $50,000,000........................

None or not available...............

Unit banks..............................

Banks with deposits of— 1

$1 0 0 ,0 0 0 and under................

$100,000 to $250,000............

$250,000 to $500,000..............

$500,000 to $1,000,000......... .

$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 $10,000,000___

$10,000,000 to $50,000,000. ..

Over $50,000,000...................

None or not available........... .

14,882

920 2,886

3,484

3,011 2,101

1,433

504

376 122

45

13,958

914

2.851

3,358

2,859

1,976

1,315

385

223

33

44

1,085

322

326

178

104

47

39

6

15

4

44

1,046

322

325

171

100

40

32

3

9

1

43

562

1

4

6

27

61

141

120

162

40

485

1

4

6

27

57

133

111

128

18

56

52

506

1

2

4

21

50

128

109

156

35

433

21

46 120

101

124

14

89.7

64.9

88.7

94.8

95.9

95.5 

89.4

81.6 68.2

75.9 2.2

89.8

64.7

88.5

94.8

95.8

95.8

89.4

79.4 

62.1

70.6 

2.3

92.7

65.0

88.7 

94.9

96.5

97.8 

97.3

98.8

96.0 

96.7 2.2

92.5

64.8 88.6

94.9

96.5

98.0

97.6

99.2

96.0

97.0 

2.3

10.0

50.0 

33.3

22.2

18.0

9.2

9.2 

3.7

12.5

10.7

50.0

33.3

22.2

19.3 

9.7

9.2

3.1 22.2

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks operating branches..........

Banks with deposits of— 1

$1 0 0 ,0 0 0 and under.................

$100,000 to $250,000...............

$250,000 to $500,000...............

$500,000 to $1,000,000............

$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 $10,000,000.......

$10,0 0 0 ,0 0 0 to $50,000,000___

Over $50,000,000 ....................

None or not available............

1,001 889 112 924 885 196 159 530 39 77 4 73 88.7 95.8 5.1

6 6 6 6 6 1 0 0 .0 1 00 .0

35 34 1 35 34 1 33 1 97.1 97.1

126 119 7 126 119 1 118 7 94.4 94.4

152 148 4 152 148 4 1 143 4 97.4 97.4

129 118 11 125 118 10 5 103 7 4 4 91.5 94.4

126 111 15 118 111 26 19 66 7 8 8 8 8 .8 94.1

128 117 11 119 116 54 36 26 3 9 1 8 90.0 97.5 9.1

187 149 38 153 147 61 56 30 6 34 2 32 79.7 96.1 5.9

111 87 24 89 86 41 40 5 3 22 1 21 78.4 96.6 4.5

1 1 1 1

deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31,1936, June 30,1937, and December 

31, 1937.

Back figures—See the Annual Report for 1936, p. 112.

0000NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 106. NUMBER OF OPERATING COMMERCIAL BANKS, DECEMBER 31, 1937

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

Banks with deposits of— 1

All

banks

$1 00,000

and

under

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1,000 ,00 0

$1,0 00 ,00 0

to

$2 ,0 00 ,00 0

$2 ,0 0 0 ,0 0 0

to

$5,000,000

$5,000,000

to

$10,0 00 ,00 0

$10,0 00 ,00 0

to

$50,000,000

Over

$50,000,000

None or 

not 

available

United States and possessions—total 14,882 920 2 ,8 8 6 3,4S4 3,011 2,1 0 1 1,433 504 376 122 45

Insured banks...................................... 13,797 598 2,560 3,306 2,907 2,054 1,394 498 361 118 1

Noninsured banks................................ 1,085 322 326 178 104 47 39 6 15 4 44

United States..................................... 14,848 918 2,885 3,480 3,007 2,093 1,424 502 374 121 44

Insured banks................................... 13,793 598 2,560 3,306 2,907 2,050 1,394 498 361 118 1

Noninsured banks............................ 1,055 320 325 174 100 43 30 4 13 3 43

Possessions......................................... 34 2 1 4 4 8 9 2 2 1 1

Insured banks................................... 4 4

Noninsured banks............................ 30 2 1 4 4 4 9 2 2 1 1

State

Alabama.......................................... 217 18 65 64 30 20 14 1 4 1

Insured banks............................... 208 15 62 62 29 20 14 1 4 1

Noninsured banks........................ 9 3 3 2 1

Arizona............................................ 12 1 3 4 2 2

Insured banks............................... 12 1 3 4 2 2

Noninsured banks.........................

Arkansas......................................... 221 42 63 48 37 17 5 4 4 1

Insured banks............................... 2 12 38 59 47 37 17 5 4 4 1

Noninsured banks......................... 9 4 4 1

California........................................ 213 3 7 41 56 39 33 9 13 12

Insured banks............................... 206 2 6 41 56 38 30 9 12 12

Noninsured banks......................... 7 1 1 1 3 1

Colorado.......................................... 147 8 29 35 32 22 10 4 6 1

Insured banks............................... 138 6 25 33 31 22 10 4 6 1

Noninsured banks......................... 9 2 4 2 1

Connecticut.................................... 121 1 7 12 18 27 29 15 11 1

Insured banks............................... 103 6 7 16 23 27 14 9 1

Noninsured banks......................... 18 1 1 5 2 4 2 1 2

Delaware......................................... 46 1 7 11 11 5 6 2 2 1

Insured banks............................... 44 1 6 10 11 5 6 2 2 1

Noninsured banks......................... 2 1 1

District of Columbia.................... 2 2 1 3 3 7 6 2

Insured banks............................... 22 1 3 3 7 6 2

Noninsured banks.........................

Florida............................................. 161 4 28 36 34 33 11 8 7

Insured banks.............................. 158 3 28 36 33 32 11 8 7

Noninsured banks......................... 8 1 1 1

Georgia............................................ 346 92 85 70 42 24 14 3 2 2 12

Insured banks............................... 264 42 69 68 40 24 14 3 2 2

Noninsured banks......................... 82 50 16 2 2 12

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho................................................ 52 3 9 12 15 4 5 2 2

Insured banks............................... 50 3 9 12 15 3 4 2 2

Noninsured banks......................... 2 1 1

Illinois............................................. 872 29 161 210

206

205

203

2

109

108

1

89

87

2

40

40

24

24

5

Insured banks............................... 856 25 158 5

Noninsured banks......................... 16 4 3 4 Indiana............................................ 514 10 106 152 98

96

79

78

44

43

1

9 15 Insured banks............................... 483 7 92 142 9 15 I

Noninsured banks......................... 31 3 14 10 2 1

Iowa................................................. 669 14 143 215

189

162

151

93

89

22

21

1

11

11

g A

Insured banks............................... 589 4 119 5

4

Noninsured banks......................... 80 10 24 26 11 4 4

Kansas............................................. 691 94 252 167 90 56 25 3 4

Insured banks......................... . 457 24 154 125 73 49 25 3 4

Noninsured banks......................... 234 70 98 42 17 7

Kentucky........................................ 424 38 111 98

94

83

74

61

60

1

21

21

5 5 1

Insured banks............................... 379 20 98 5 6

I

Noninsured banks......................... 45 18 13 4 9

Louisiana........................................ 147 6 17 34 44 26

26

7 6 5 \

Insured banks............................... 145 5 17 33 44 7 6 6

I

Noninsured banks......................... 2 1 1

Maine............................................... 70 7 13 17

16

21

19

9 3

Insured banks............................... 61 4 11 8

1

3

Noninsured banks......................... 9 3 2 1 2

Maryland........................................ 183 2 25 44 41

41

36

36

17

17

9 8

6

2

1

Insured banks............................... 181 2 25 44 9 1

Noninsured banks......................... 2

Massachusetts................................ 199 1 3 10 32 38 64

62

27

27

19

17

2

5

Insured banks............................... 194 1 3 10 31 38 5

Noninsured banks......................... 5 1 2

Michigan......................................... 477 6 71

57

144

135

109

107

59

56

46

45

1

21

21

10

10

A

Insured banks............................... 438 3

*

4

i

Noninsured banks......................... 39 3 14 9 2 3 7

Minnesota....................................... 687 33 181 230 144 61

59

26

25

1

5 4 3

Insured banks............................... 649 20 166 226 141 5 4 3

Noninsured banks........................ 38 13 15 4 3 2 Mississippi...................................... 208 12 43 55 49 29 13 6 1

Insured banks............................... 196 10 40 53 45 28 13 6 1

Noninsured banks......................... 12 2 3 2 4 1

Missouri.......................................... 650 100 201 141 96 47

47

34

34

17

17

9 5

Insured banks............................... 607 82 183 136 94 9 5 Noninsured banks........................ 43 18 18 5 2

Montana......................................... 115 3 23 36 26 10 12 3 2

Insured banks............................... 115 3 23 36 26 10 12 3 2

Noninsured banks.........................

NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 106. N umber of Operating Commercial Banks, December 31, 1937— Continued

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

Nebraska...............

Insured banks__

Noninsured banks

Nevada...................

Insured banks___

Noninsured banks, 

New Hampshire... 

Insured banks 

Noninsured banks

New Jersey............

Insured banks. .. . 

Noninsured banks

New Mexico..........

Insured banks 

Noninsured banks,

New York..............

Insured banks 

Noninsured banks, 

North Carolina. .. 

Insured banks 

Noninsured banks,

North Dakota........

Insured banks 

Noninsured banks.

Ohio.......................

Insured banks 

Noninsured banks.

Oklahoma.............

Insured banks. . .. 

Noninsured banks,

Oregon...................

Insured banks 

Noninsured banks.

Pennsylvania........

Insured banks 

Noninsured banks

Rhode Island........

Insured banks 

Noninsured banks.

All

banks

Banks with deposits of-

$100,000

and

under

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1,000,000

$1,000,000

to

$2,000,000

$2,000,000

to

$5,000,000

$5,000,000

to’

$10,000,000

$10,000,000

to

$50,000,000

Over 

$50,000,000

None or 

not 

available

431

373

58

9

8

1

64

56

8

383 

876

7

41

401

767

74522

235

228

7

187

173

14

707

688

19

400

384 

16

75

73

2

1,095

1,068

27

23

16

7

50

26

24

6

17

14

3

47

38

9

5 

3 

2

38

32

6

163

138

25

29

26

3

52

511

70 68

2

80

71 

9

126

117

9

2121

50

48

2

121

114

7

2

1

1

12111

26

26

1111

103

103

58

571

42

40

2

172

165

7

119

1181

18

18

160

157

57

561

3

3

21

18

3

73

71

2

10

9

1

175

173

2

35

35

10

10

191

1901

55

55

18

18

270

262

8

3

3

22

211

3

3

114

1131

11

11

175

173

41

41

10

10

125

125

32

32

249

246

3 

5 1

4

10

10

10

9

1

94

94

152

147

5 

19 

181

6 

6

82

82

2020

1

238

36

36

59

59

27

27

64

631

2

2

30

291

36

351

5

5

1

16

16

38

371

4

2

2

32

29

3

2

2

14

14

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
South Carolina. . . . 

Insured banks. . . . 

Noninsured banks.

South Dakota........

Insured banks. . . . 

Noninsured banks.

Tennessee...............

Insured banks. . . . 

Noninsured banks.

Texas........................

Insured banks. . . . 

Noninsured banks.

Utah.........................

Insured banks. . . . 

Noninsured banks.

Vermont..................

Insured banks. . . . 

Noninsured banks.

Virginia...................

Insured banks. . . . 

Noninsured banks.

Washington............

Insured banks. . . . 

Noninsured banks.

West Virginia.........

Insured banks. . . . 

Noninsured banks.

Wisconsin...............

Insured banks. . . . 

Noninsured banks.

Wyoming.................

Insured banks.......

Noninsured banks.

150

111

39

181

1801

304

2968

884

793

91

59

59

75

75

321

3201

158

1526

183

1758

594

579

15

58

58

41

16

25

27

27

35

32

3

87

61

261

1

1

108

2

4

4

30

23

7

83

83

97

94

3

212

188

248

8

46

46

31

301

22

19

3

107

1052

5

5

35

32

3

39

67

67

234

219

15

18

18

17

17

75

75

45

432

43

421

171

164

7

19

19

17

152

14

13 1

51

501

172

16111

14 

14

15

15

85

85

35

35

52

502

145

142

3

15

15

15

13

1111

31

301

74

731

9

9

2121

62

62

13

13

31

31

98

98

1010

49

472

2

2

17

17

31

31

10

9

1

24

231

45

441

5

5

2020

1111

2222 12

i2*

^Deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31, 1936, June 30,1937, and De­ cember ol, 1937.

Back figures—See the following Annual Reports: 1936, page 114; 1935, page 132.

00NUMBER OP BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 107. NUMBER OF OPERATING MUTUAL SAVINGS BANKS, DECEMBER 31, 1937

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE

United States—total.

Insured banks..........

Noninsured banks...

State

Connecticut...........

Insured banks. . . . 

Noninsured banks.

Delaware.................

Insured banks. . . . 

Noninsured banks.

Indiana...................

Insured banks. . . . 

Noninsured banks.

Maine.......................

Insured banks. . . . 

Noninsured banks.

Maryland................

Insured banks. . . . 

Noninsured banks.

Massachusetts.......

Insured banks. . . . 

Noninsured banks.

Minnesota...............

Insured banks. . . . 

Noninsured banks. 

New Hampshire. .. 

Insured banks. . . . 

Noninsured banks.

New Jersey..............

Insured banks. . . . 

Noninsured banks.

New York................

Insured banks.......

Noninsured banks.

All

banks

562

56

506

73

2

5 

4 1

326 

26 

122

10

193

1931

1

44

25

1411

1342

132

Banks with deposits of— 1

$100,000

and

under

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1,000,000

276

21

$1,000,000

to

$2 ,000,000

6111

50

12

i2

11

112

1

1

6

$2 ,000,000

to

$5,000,000

141

13

128

21

21

122

101

56

56

17

17

3

2

1

21

21

$5,000,000 

to

$10,000,000

12011

109

18

181

1

52

*52'

4

8

4

4

26

$10,000,000 

to

$50,000,000

1626

156

19

5

56

*56'

4 

9

5 

4

58

58

Over

$50,000,000

40

5

35

1

232

21

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Ohio.........................

Insured banks. . . . 

Noninsured banks.

Oregon.....................

Insured banks. . . . 

Noninsured banks.

Pennsylvania..........

Insured banks. . . . 

Noninsured banks.

Rhode Island.........

Insured banks. . . . 

Noninsured banks.

Vermont..................

Insured banks. . . . 

Noninsured banks.

Washington............

Insured banks. . . . 

Noninsured banks.

Wisconsin...............

Insured banks. . . . 

Noninsured banks.

deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31. 1936. June 30, 1937, and 

December 31, 1937.

Back figures—See the following Annual Reports: 1936, page 118; 1935, page 140.

00

<x>NUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 108. N u m ber OP COMMERCIAL BANKS OPERATING BRANCHES AND NUMBER OF BRANCHES IN CONTINENTAL UNITED STATES,

D ecember 31, 1937

GROUPED ACCORDING TO CHARACTER OF BRANCH SYSTEM, LOCATION OF BRANCHES, POPULATION OF CENTER IN WHICH LOCATED, AND BY STATE

CO

o

United States—total.

In centers with population of—

Under 250.............................................

250 to 500.............................................

500 to 1,000..........................................

1.000 to 2,500.. 

2,500 to 5,000..

5.000 to 10,000.

10.000 to 25,000.

25.000 to 50,000.

50.000 and over.,

State 

Alabama.. 

Arizona. .. 

Arkansas.. 

California. 

Colorado..

Connecticut..............

Delaware...................

District of Columbia.

Florida......................

Georgia.....................

Idaho... 

Illinois.. 

Indiana.

Iowa___

Kansas..

Character of branch system

All

branch

systems

913

29

62

88

122

95

51

69

57

340

35

109

City

wide

285

14

24

238

2

2

11

11

County

wide

404

36

55

71

34

28

19

47

2

1

10

17

74

State

wide

220

7

26

29

19

14

27

14

51

4

10

1

35

In more 

than one 

State

Location of branches

All

branches

3,424

120

242

286

216

163

151

105

1,803

21

25

15

*857

12

13

30 

2

26

31

56

145

In head 

office 

city

1,640

2

5

4

17

40

1,572

237

4

2

30

'io'

24

Elsewhere 

in head 

office 

county

721

80

158

159

117

60

44

39

20

44

5

7

10

85

31

105

Elsewhere 

in head 

office 

State

1,056

40

84

127

219

151

115

95

45

180

13

17

5

532

29

1

40

Outside

head

office

State

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky........

Louisiana.........

Maine..............

Maryland........

Massachusetts.

Michigan... 

Minnesota.. 

Mississippi. 

Missouri. .. 

Montana...

14

27

20

23

412

24

5

6 

3 9

29

182

6

2 088

11

24

16

53

57

76 1114

1626

44

4

37

8 6

1286

19

27

28

*23'

33

24

201

21

Nebraska...........

Nevada..............

New Hampshire.

New Jersey........

New Mexico....

New York.........

North Carolina. 

North Dakota. .

Ohio...................

Oklahoma.........

222

524

88

41

12

37

37

67

12

13 2

10

14 5

9

2473

2

112

11216

1641

110

14

175

91

6058

132

287

38

11

7475

il

13

Oregon.............

Pennsylvania. . 

Rhode Island. . 

South Carolina. 

South Dakota..

4

45

1179

Tennessee.

Texas.......

Utah.........

Vermont. . 

Virginia. ..

2

11621

14

165 1100

38

23

22

51

11

85

17

17

” i ‘ ‘2 0 *

16

*i7*

12

1425

18

5137

18

17

16

Washington... 

West Virginia. 

Wisconsin. . . . 

Wyoming.......

5

1811

47

33

146

19

12

12

67

1641

113

29

2941

76

93

18

44

‘20‘

iThe number of branches in Table 108 does not ag 

are located. Out-of-State branches are operated as fc

1 branch in Pennsylvania; and 2 banks in New York _________________________

NOTE: There are 11 branch systems in the possessions operating 58 branches. 

Back figures—See the Annual Report for 1936, p. 120.

CONUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 109. N u m b e r o f O p e r a t in g B a n k in g Of f ic e s o f in s u r e d c o m m e r c ia l b a n k s , D e c e m b e r 31, 1937

GROUPED BY AMOUNT OF DEPOSITS, TYPE OF OFFICE, AND POPULATION OF CENTER IN WHICH LOCATED

All banking offices........................

Banking offices in centers 

with population of—

Under 250.....................................

250 to 500.....................................

500 to 1,000..................................

1 .0 0 0 to 2,500..............................

2,500 to 5,000..............................

5.000 to 10,000............................

10.000 to 25,000..........................

25.000 to 50,000..........................

50.000 and over............................

Unit banks.............................................

Banking offices in centers with 

population of—

Under 250............................................

250 to 500............................................

500 to 1,000.........................................

1.000 to 2,500......................................

2,500 to 5,000......................................

5.000 to 10,000....................................

10.000 to 25,000..................................

25.000 to 50,000..................................

50.000 and over...................................

All offices of banks operating

branches..........................

Banking offices in centers 

with population of—

Under 250.................................

250 to 500.................................

500 to 1,000..............................

All

banking

offices

17,178

849

1,936

2,682

3,327

1,964

1,489

1,281

608

3,042

12,912

706

1,641

2,317

2,880

1,656

1,281

1,068

450

913

4,266

143

295

365

Banking offices with deposits of— 1

$1 00,000

and

under

785

225

313

170

45

9

7

9

3

4

592

179

239

117

35

5

6

8

1

2

193

$100,000

to

$250,000

2,874

428

946

892

452

66

20

2,526

388

844

796

348

40

102

$250,000

to

$500,000

3,591

130

482

1,062

1,255

363

112

21

135

3,187

114

453

978

1,143

324

97

21

14

43

404

$500,000

to

$1 ,0 00 ,00 0

3,447

24

100

413

1,142

760

389

154

40

425

2,759

21

86

367

1,016

659

343

136

28

103

688

$1 ,000 ,00 0

to

$2 ,000 ,00 0

2,729

320

592

605

379

112

1,936

4

16

57

258

502

539

322

88

150

793

$2,000,000 $5,000,000 

to to

$5,000,000 j$10,000,000

$10,000,000 

to

$50,000,000

1,958

134

317

549

218

697

1,283

27

111

263

477

182

219

675

657

1

4

20

103

148

381

382

1

3

17

81

112

168

275

Over 

$50,000,000

424

14

32

377

214

11

20

182

2 10

101

101

32

32

69

None or 

not 

available

612

38

76

81

72

36

19

23

22

245

611

38

76

80

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
1.000 to 2,500. . 

2,500 to 5,000. .

5.000 to 10,000.

10.000 to 25,000

25.000 to 50,000

50.000 and over.

Head offices of banks operating

branches..............................

Banking offices in centers 

with population of—

Under 250.....................................

250 to 500.....................................

500 to 1,000..................................

1 .0 0 0 to 2,500..............................

2.500 to 5,000..............................

5.000 to 10,000.............................

10.000 to 25,000...........................

25.000 to 50,000...........................

50.000 and over............................

Branches.........................................

Banking offices in centers 

with population of—

Under 250.....................................

250 to 500.....................................

500 to 1,000..................................

1.000.to 2,500..............................

2.500 to 5,000..............................

5.000 to 10,000............................

10.000 to 25,000...........................

25.000 to 50,000...........................

50.000 and over............................

447 10 53 112 126 62 12 72

308 4 14 39 101 90 23 1 36

208 1 4 15 46 66 54 3 19

213 1 7 10 18 57 72 22 3 23

158 2 7 7 12 24 36 36 12 22

2,129 2 25 92 322 488 478 213 195 69 245

885 9 61 90 99 78 93 92 101 56 206

27 3 11 5 8

60 2 21 9 7 21

85 2 16 33 12 2 20

117 10 33 31 13 2 27

91 2 7 26 23 5 1 27

48 1 1 11 13 12 10

67 2 4 12 23 12 14

55 1 3 8 25 8 10

335 8 12 43 54 93 56 69

3,381 184 287 314 589 715 582 183 109 13 405

116 43 29 11 3 30

235 72 81 20 7 55

280 51 80 51 34 4 60

330 9 43 79 95 49 10 45

217 4 12 32 75 67 18 9

160 4 14 35 53 42 3 9

146 1 7 8 14 45 49 10 3 9

103 2 6 7 12 21 28 11 4 12

1,794 2 25 92 314 476 435 159 102 13 176

1Deposits of unit banks are averages of daily figures for the year; deposits of all offices of banks operating branches are as of December 31, 1937. 

Back figures—See the Annual Report for 1936, p. 122.

<£>CONUMBER OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 110. NUMBER OP OPERATING BANKING OFFICES OF INSURED COMMERCIAL BANKS, DECEMBER 31, 1937

GROUPED ACCORDING TO NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED,

TYPE OF OFFICE, AND POPULATION OF CENTER IN WHICH LOCATED

<X>

All banking offices........................

Banking offices in centers 

with population of—

Under 250.....................................

250 to 500.....................................

500 to 1,000..................................

1.000 to 2,500...............................

2,500 to 5,000...............................

5.000 to 10,000.............................

10.000 to 25,000...........................

25.000 to 50,000...........................

50.000 and over............................

Unit banks..................................

Banking offices in centers 

with population of—

Under 250..................................

250 to 500..................................

500 to 1,000..............................

1.000 to 2,500.............................

2,500 to 5,000...........................

5.000 to 10,000...........................

10.000 to 25,000.........................

25.000 to 50,000.........................

50.000 and over........................ .

AH offices of banks operating

branches.......................

Banking offices in centers 

with population of—

Under 250................................

250 to 500................................

500 to 1.000.............................

All

banking

offices

17,178

849

1,936

2,682

3,327

1,964

1,489

1,281

608

3,042

12,912

706

1,641

2,317

2,880

1,656

1,281

1,068

450

913

4,266

143

295

365

1

banking

office

8,240

843

1,861

2,294

2 ,1 0 2

678

127

9

6,918

701

1,574

1,961

1,763

547

261

101

7

1,322

142

287

Banking offices in centers with—

2

banking

offices

4,033

1,123

1,070

757

521

84

19

3,566

5

65

350

1,031

920

667

467

banking

offices

1,245

85

176

338

404

163

69

1,046

2

6

75

157

292

332

126

56

199

4

banking

offices

497

17

30

53

173

182

92

384

11

22

46

150

98

57

113

5

banking

offices

246

10

18

32

117

69

178

10

15

20

87

46

68

6

banking

offices

209

24

64

121

125

84

7 or 8 

banking 

offices

196

21

175

103

8

95

93

9 to 19 

banking 

offices

529

18

511

258

6

252

271

Over 19 

banking 

offices

1,983

334

334

1,649

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
1.000 to 2,500.................................

2,500 to 5,000.................................

5.000 to 10,000...............................

10.000 to 25,000.............................

25.000 to 50,000.............................

50.000 and over..............................

Head offices of banks operating

branches............................

Banking offices in centers 

with population of—

Under 250...................................

250 to 500....................................

500 to 1,000................................

1.000 to 2,500..............................

2.500 to 5,000..............................

5.000 to 10,000............................

10.000 to 25,000..........................

25.000 to 50,000..........................

50.000 and over..........................

Branches.......................................

Banking offices in centers 

with population of—

Under 250....................................

250 to 500....................................

500 to 1,000................................

1.000.to 2,500..............................

2.500 to 5,000..............................

5.000 to 10,000............................

10.000 to 25,000..........................

25.000 to 50,000..........................

50.000 and over...........................

447 339

308 131

208 62

213 26

158

2

2,129

885 263

27 27

60 55

85 75

117 73

91 23

48

8

67

2

55

335

3,381 1,059

116 115

235 232

280 258

330 266

217 108

160 54

146 24

103

2

1,794

92

150

90

77

145

1744

10

39

56

26

3171

29312

22

53

94

64

Back figures—See the Annual Report for 1936, p. 123.

10

6

19

8

46

7

3

72 23 12

3

37 34 30 16 13 12

13 35 23 65 80 259 1,649

70 41 16 27 36 80 178 14 1

7 5

13

1

20 11

2

1

18 13

4

6

5

2

7 10 10 20 31 78 178

129 72 52 57 57 191 1,471 16 5

12

3

33

6

3

52 12 10

2

19 21 26 10

8 10

6 25 13 45 49 181 1,471

CnNUMBER OP BANKING OPPICES

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
DEPOSITS OF BANKING OFFICES 

Table 111. AVERAGE DEPOSITS OF OPERATING BANKS DURING 19371 

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK, TYPE OF BANK, AND AMOUNT OF DEPOSITS

05

All banks.

Banks with deposits 

of—i

$1 0 0 ,0 0 0 and under..........

$100,000 to $250,000........

$250,000 to $500,000........

$500,000 to $1,000,000___

$1,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .. 

$2,000,000 to $5,000,000..

$5,000,000 to $10,000,000. 

$10,000,000 to $50,000,000 

Over $50,000,000..............

Unit banks..........................

Banks with deposits of—1.................

$100 ,00 0 and under..........

$100,000 to $250,000........

$250,000 to $500,000........

$500,000 to $1,000,000.... 

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . . 

$2,000,000 to $5,000,000. .

$5,000,000 to $10,000,000. 

$10,000,000 to $50,000,000 

Over $50,000,000.. .

All banks Commercial banks2 Mutual savings banks

Insured

Total Insured Noninsured Total Members F. R. System Not members F. R. 

System

Noninsured Total Insured Noninsured Total National State

(In thousands of dollars)

59,188,154 48,550,972 10,637,182 49,061,576 47,551,313 26,645,433 14,553,451 6,352,429 1,510,263 10,126,578 999,659 9,126,919

62,212 43,260 18,952 62,118

499,926

1,260,454

43,260

447,887

1,198,297

2,310

73,857

373,635

653 40,297

360,971

756,451

18,858

52,039

62,157

94 94

500,463

1,262,428

448,123

1,199,037

52,340

63,391

13,059

6 8,2 11

537

1,974

236

740

301

1,234

2,172,524

3,062,045

4,815,990

2,084,447

2,919,422

4,259,403

88,077

142,623

556,587

2,151,641

2,966,814

4,351,718

2,079,837

2,902,292

4,223,485

962,073

1,556,992

2,554,480

154,225

244,152

573,664

963,539

1,101,148

1,095,341

71,804

64,522

128,233

20,883

95,231

464,272

4,610

17,130

35,918

16,273

78,101

428,354

4,388,884

11,362,242

31,561,366

3,555,278

7,482,921

26,559,081

833,606

3,879,321

5,002,285

3,520,095

7,751,176

26,497,634

3,475,111

7,361,963

25,819,181

2,160,300

4,365,162

14,596,624

719,243

1,987,983

10,792,261

595,568

1,008,818

430,296

44,984

389,213

678,453

868,789

3,611,066

5,063,732

80,167

120,958

739,900

788,622

3,490,108

4,323,832

28,875,772 23,152,565 5,723,207 23,310,327 22,631,425 14,586,995 3,401,260 4,643,170 678,902 5,565,445 521,140 5,044,305

61,784 42,832 18,952 61,690

493,162

1,212,870

42,832

441,295

1,153,557

2,310

73,857

373,635

653 39,869

354,503

712,067

18,858

51,867

59,313

94 94

493,699

1,214,844

441,531

1,154,297

52,168

60,547

12,935

67,855

537

1,974

236

740

301

1,234

2,064,010

2,874,895

4,393,937

1,978,828

2,750,158

3,892,136

85,182

124,737

501,801

2,043,127

2,787,373

3,956,641

1.974.218 

2,733,028

3.856.218

959,178

1,542,612

2,464,806

153,531

235,652

504,491

861,509

954,764

886,921

68,909

54,345

100,423

20,883

87,522

437,296

4,610

17,130

35,918

16,273

70,392

401,378

3,429,181

6,927,429

7,415,993

2,683,531

4,115,902

6,093,350

745,650

2,811,527

1,322,643

2,636,994

4,244,786

5,873,684

2,612,899

4,039,166

5,778,212

1,761,931

2,918,338

4,490,328

444,256

694,003

1,287,884

406,712

426,825

24,095

205,620

95,472

792,187

2,682,643

1,542,309

70,632

76,736

315,138

721,555

2,605,907

1,227,171

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Banks operating branches'30,312,382 

Banks with deposits

of—i..........................

$100,000 and under.......... 428

$100,000 to $250,000........ 6,764

$250,000 to $500,000........ 47,584

108,514

187,150

422,053

959,703

4,434,813

24,145,373

$500,000 to $1 ,0 0 0 ,0 0 0 .... 

$1,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .. 

$2,000,000 to $5,000,000..

$5,000,000 to $1 0 ,0 0 0 ,0 0 0 . 

$10,000,000 to $50,000,000 

Over $50,000,000..............

25,398,407 4,913,975

6,592

44,740

105,619

169,264

367,267

871,747

3,367,019

20,465,731

172

2,844

2,895

17,886

54,786

87,956

1,067,794

3,679,642

25,751,249

428

6,764

47,584

108,514

179,441

395,077

883,101

3,506,390

20,623,950

24,919,888

428

6,592

44,740

105,619

169,264

367,267

862,212

3,322,797

20,040,969

12,058,438 11,152,191

124

356

2,895 694

14,380 8,500

89,674 69,173

398,369 274,987

1,446,824 1,293,980

10,106,296 9,504,377

1,709,259

428

6,468

44,384

102,030

146,384

208,420

188,856

581,993

430,296

831,361 4,561,133 478,519 4,082,614

172

2,844

2,895

10,177

27,810

20,889

183,593

582,981

7,709

26,976

76,602

928,423

3,521,423

9,535

44,222

424,762

7,709

26,976

67,067

884,201

3,096,661

deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31, 1936, June 30, 1937, and 

December 31, 1937.

^Excludes figures for: 1 insured bank not a member of the Federal Reserve System for which daily average deposits are not available; 43 noninsured banks in the United 

States; and 1 noninsured bank in the possessions. See NOTE on page 65.

Back figures—See the following Annual Reports: 1936, page 125; 1935, pp. 150-54.

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T able 112. A v e r a g e D ep osits op O p e ra tin g B a n k s D u r in g 19371

INSURED AND NONINSURED BANKS GROUPED BY CLASS OF BANK IN EACH STATE AND IN THE POSSESSIONS

(Amounts in thousands of dollars)

All banks

Total Insured Noninsured

Commercial banks2

Total

Insured

Total

Members F,. R. System

National State

26,645,433 14,553,451

26,645,433 14,553,451

192,727

51,114

100,515

2,753,705

272,285

33,870

8,974

19,884

682,039

26,561

286,827

18,867

195,788

261,653

269,302

65,176

87,086

111,403

10,651

56,237

45,182

2,792,518

439,769

234,015

237,467

34,083

733,919

58,363

93,516

18,325

242,198

304,529

123,544

303,709

1,316,080

56,356

47,839

31,867

115,150

376,756

768,634

677,746

66,393

618,386

77,869

402,240

8,426

1,344

548,946

39,630

Not members F. R. 

System

Noninsured

Mutual savings banks

Total Insured Noninsured

United States and 

sions—total...........

United States............

Possessions................

State

Alabama..................

Arizona....................

, Arkansas..................

California.................

Colorado..................

Connecticut.............

Delaware.................

District of Columbia

Florida.....................

Georgia....................

Idaho.......................

Illinois.....................

Indiana....................

Iowa........................

Kansas.....................

Kentucky.................

Louisiana.................

Maine......................

Maryland.................

Massachusetts.........

Michigan.................

Minnesota...............

Mississippi...............

Missouri...................

Montana..................

59.188.154

59.010.154 

178,000

272,669

78,446

170,249

3,876,754

329,109

1,281,874

186,057

341,012

339,509

404,554

92,718

3,904,128

840,565

622,903

407,969

458,303

440,822

334,750

797,654

4,008,610

1,413,006

943,175

193,852

1,388,475

136,842

48,550,972 

48,544,595 

6,377

270,720

78,446

169,161

3,843,856

326,917

491,736

150,343

341,012

337.244 

397,919

89,008

3,893,679

821.841 

589,763 

354,185

446.245 

440,349 

205,423 

531,741

1,806,060

1,397,966

931,740

189,182

1,381,320

136.842

10,637,182

10,465,559

171,623

1,949

’ “ ’ 1,088 

32,898 

2,192

790,138

35,714

’ * ” '2,265 

6,635

3,710

10,449

18,724

33,140

53,784

12,058

473

129,327

265,913

2,202,550

15,040

11,435

4,670

7,155

49.061.576

48.883.576 

178,000

272,669

78,446

170,249

3,876,754

329,109

566,307

150,716

341,012

339,509

404,554

92,718

3,904,128

819,579

622,903

407,969

458,303

440,822

208,410

577,538

1,859,736

1,413,006

876,413

193,852

1,388,475

136,842

47,551,313 

47,544,936 

6,377

270,720

78,446

169,161

3,843,856

326,917

491,736

150,343

341,012

337.244 

397,919

89,008

3,893,679

807,304

589,763

354,185

446.245

440.349 

190,674

530.350 

1,806,060

1,397,966

864,978

189,182

1,381,320

136,842

6,352,429

6,346,052

6,377

44,123

18,358

48,762

408,112

28,071

139,733

44,390

33,821

64,940

72,380

9,743

367,242

309,172

262,232

147,691

87,981

35,263

111,491

113,224

227,092

178,806

121,445

213,988

19,343

1,510,263

1,338,640

171,623

1,949

10.126.578

10.126.578

999.659

999.659

9.126.919

9.126.919

1,088

32,898

2,192

74,571

373

715,567

35,341

2,265

6,635

3,710

10,449

12,275

33,140

53,784

12,058

473

17,736

47,188

53,676

15,040

11,435

4,670

7,155

20,986

126,340

220,116

2,148,874

66,762

715,567

35,341

14,537 6,449

14,749

1,391

111,591

218,725

2,148,874

66,762

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Nebraska..........................

Nevada..............................

New Hampshire...............

New Jersey.......................

New Mexico.....................

New York.........................

North Carolina.................

North Dakota...................

Ohio..................................

Oklahoma..........................

Oregon..............................

Pennsylvania....................

Rhode Island....................

South Carolina.................

South Dakota...................

Tennessee..........................

Texas................................

U ta h ....:........................

Vermont............................

Virginia.............................

Washington.......................

West Virginia...................

Wisconsin..........................

Wyoming..........................

326,159

30,339

274,215

2,021,539

56,570

19,202,929

412,268

98,360

2,325,355

445,396

281,128

5,143,063

479,651

152,064

87,662

486,439

1,335,183

147,707

170,787

557,467

501,320

283,061

865,429

62,058

315,986

30,089

78,728

1,800,861

56,018

13,771,984

407,534

71,562

2,320,655

443,258

276,488

4,519,373

239,895

144,366

87,070

483,862

1,310,721

147,707

170,787

557,379

490,135

278,288

857,093

62,058

10,173

250

195,487

220,678

552

5,430,945

4,734

26,798

4,700

2,138

4,640

623,690

239,756

7,698

592

2,577

24,462

326,159

30,339

85,268

1,693,801

56,570

13,928,945

412,268

98,360

2,207,387

445,396

279,539

4,566,882

303,460

152,064

87,662

486,439

1,335,183

147,707

106,616

557,467

439,957

283,061

860,969

62,058

315,986

30,089

78,728

1,661,313

56,018

13,265,184

407,534

71,562

2,202,687

443,258

274,899

4,513,052

239,895

144,366

87,070

483,862

1,310,721

147,707

106,616

557,379

428,772

278,288

852,633

62,058

252,007

28,111

68,775

759,179

44,255

5,119,915

100,135

50,276

1,027,058

392,844

241,967

2,649,969

93,608

81,806

54,472

362,644

1,163,351

71,088

53,376

345,311

369,177

151,503

469,063

44,721

5,263

“ ' 1,861 

562,945 

1,752

7,517,650

147,998

' ’839,834 

4,088

3,499

1,245,573

139,831

8,905

9,266

34,194

30,319

50,769

85,435

29,350

65,759

96,859

4,160

58,716

1,978

8,592

339,189

1 0,0 11

627,619

159,401

21,286

335,795

46,326

29,433

617,510

6,456

53*655

23,332

87,024

117,051

25,850

53,240

126,633

30,245

61,026

286,711

13,177

250

6,540

32,488

552

663,761

4,734

26,798

4,700

2,138

4,640

53,830

63,565

7,698

592

2,577

24,462

188,947

327,738

188,947

188,190139,548

5,273,984 506,800 4,767,184

117,968 117,968

1,589

576,181

176,191

1,589

6,321 569,860

176,191

64,171 64,171

88

11,185

4,773

8,336

61,363 61,363

4,460 4,460

deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31, 1936, June 30, 1937, and 

December 31, 1937.

’Excludes figures for: 1 insured bank not a member of the Federal Reserve System for which daily average deposits are not available; 43 noninsured banks in the United 

States; and 1 noninsured bank in the possessions. See NOTE on page 65.

Back figures—See the following Annual Reports: 1936, page 126; 1935, page 150; 1934, page 182.

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 113. AVERAGE DEPOSITS OF OPERATING COMMERCIAL BANKS DURING 19371

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

United States and possessions—total......................

Insured banks......................

Noninsured banks................

United States..........

Insured banks........

Noninsured banks.

Possessions..............

Insured banks.......

Noninsured banks.

State

Alabama..................

Insured banks.......

Noninsured banks.

Arizona

Insured banks.......

Noninsured banks.

Arkansas..................

Insured banks.......

Noninsured banks.

California................

Insured banks........

Noninsured banks.

Colorado..................

Insured banks........

Noninsured banks.

Connecticut................

Insured banks...........

Noninsured banks....

Delaware......................

Insured banks...........

Noninsured banks----

District of Columbia.

Insured banks...........

Noninsured banks....

Florida.........................

Insured banks...........

Noninsured banks

Georgia........................

Insured banks...........

Noninsured banks....

All

banks

Banks with deposits of—

$1 0 0 ,0 0 0

and

under

$1 00,000 $250,000 $500,000 $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

to to to to to to to

$250,000 $500,000 $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 $50,000,000

Over

$50,000,000

49.061.576

47,551,313

1,510,263

48.883.576

47,544,936

1,338,640

178,000

6,377

171,623

272,669

270,720

1,949

78.446

78.446

170,249

169,161

1,088

3,876,754

3,843,856

32,898

329,109

326,917

2,192

566,307

491,736

74,571

150,716

150,343

373

341.012

341.012

339,509

337,244

2,265

404,554

397,919

6,635

62,118

43.260 

18,858

62,008

43.260 

18,748

110

110

1,225

1,124

101

2,905

2,672

233

238

178

60

638

458

180

352

268

84

4,777

2,842

1,935

499,926

447.887 

52,039

499,698

447.887 

51,811

228

228

11,338

10,796

542

10,534

10,025

509

1,371

1,162

209

5,318

4,669

649

1,172

1,024

148

1,059

956

103

4.758

4.758

14,511

11,875

2,636

1,260,454

1.198.297 

62,157

1,258,925

1.198.297 

60,628

1,529

' " ’ 1,529

23,683

22,968

715

278

278

17,643

17,297

346

15.823

15.823

13,234

12,553

681

4,196

2,369

1,827

3,795

3,525

270

12.978

12.978

*24,544

23,904

640

(In thousands of dollars) 

2,151,641

2.079.837 

71,804

2,148,811

2.079.837 

68,974

2,830

2,830

21,507

20,916

591

2.494

2.494

24.891

24.891

39.024

39.024

’ 22,422 

21,740 

682

13,593

12,085

1,508

7.618

7.618

513

513

23,111

22,572

539

29,196

27,772

1,424

2,966,814

2,902,292

64,522

4,351,718

4,223,485

128,233

3,520,095

3,475,111

44,984

7,751,176

7,361,963

389,213

26,497,634

25,819,181

678,453

2,955,011

2,895,915

59,096

4,321,362

4,223,485

97,877

3,507,956

3,475,111

32,845

7,682,281

7,361,963

320,318

26,447,524

25,819,181

628,343

11,803

6,377

5,426

30,356 12,139 68,895 50,110

30,356 12,139 68,895 50,110

27.248

27.248

41.839

41.839

5.364

5.364

83.756

83.756

56.709

56.709

14.711

14.711

14.513

14.513

46.450

46.450

24.497

24.497

13.557

13.557

28.287

28.287

47.935

47.935

57,240

55,939

1,301

31.369

31.369

103,087

90,909

12,178

26.859

26.859

59.845

59.845

........*26,011

26,011

242,822

223,672

19,150

145.784

145.784

3.357.304

3.357.304

....... 57,474

57,474

41,960

35,054

6,906

8 ,2 1 0

8 ,2 1 0

88,561

84,268

4,293

17.150

17.150

115,247

107,854

7,393

18.573

18.573

233,335

180,845

52,490

33.961

33.961

68.237

68.237

....... *60,338

60,338

4.593

4.593

11.039

11.039

51.022

51.022

118.605

118.605

155.240

155.240

48,348

46,706

1,642

33.439

33.439

29.498

29.498

48.200

48.200

172.264

172.264

41.116

41.116

23.807

23.807

53.853

53.853

179.311

179.311

OoFEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Idaho................................

Insured banks...............

Noninsured banks.........

Illinois..............................

Insured banks...............

Noninsured banks.........

Indiana............................

Insured banks...............

Noninsured banks.........

Iowa..................................

Insured banks...............

Noninsured banks.........

Kansas.............................

Insured banks...............

Noninsured banks.........

Kentucky.................

Insured banks.......

Noninsured banks.

Louisiana.................

Insured banks.......

Noninsured banks.

Maine.......................

Insured banks.......

Noninsured banks.

Maryland.................

Insured banks.......

Noninsured banks.

Massachusetts........

Insured banks.......

Noninsured banks.

Michigan.......................

Insured banks.............

Noninsured banks .

Minnesota.....................

Insured banks.............

Noninsured banks.......

Mississippi.....................

Insured banks.............

Noninsured banks.......

Missouri.........................

Insured banks.............

Noninsured banks.......

Montana........................

Insured banks.............

Noninsured banks.......

92,718

89,008

3,710

3,904,128

3,893,679

10,449

819,579

807,304

12,275

622,903

589,763

33,140

407,969

354,185

53,784

458,303

446,245

12,058

440,822

440.349 

473

208,410

190,674

17,736

577,538

530.350 

47,188

,859,736

,806,060

53,676

,413,006

,397,966

15,040

876,413

864,978

11,435

193,852

189,182

4,670

,388,475

,381,320

7,155

136.842

136.842

240

240

1,974

1,703

271

698

568

130

1,137

382

755

6,790

1,769

5,021

2,659

1,581

1,078

377

330

47

170

170

73

73

399

247

152

2,430

1,553

877

751

655

96

6,999

5,888

1,1 1 1

170

170

1,618

1,618

29,426

28,946

480

19,570

17,346

2,224

26,554

22.240 

4,314

42,071

26,830

15.241

18,354

16,262

2,092

2.867

2.867

4.524

4.524

570

570

12,695

10,384

2,311

30,642

28,418

2,224

7,199

6,620

579

33,288

30,453

2,835

4.184

4.184

4.228

4.228

75,279

73,869

1,410

55,368

51,621

3,747

77,555

68,085

9,470

58,613

44,581

14,032

35,700

34,304

1,396

11,998

11,572

426

2,569

1,459

1 ,1 1 0

16.444

16.444

4.107

4.107

54,079

51,017

3,062

83,741

82,365

1,376

20,549

19,917

632

48,706

47,073

1,633

12.647

12.647

9.593

9.593

146,994

145,900

1,094

72,258

70,476

1,782

112,366

104,248

8,118

61,994

50,705

11,289

58,360

51,934

6,426

31.848

31.848

9,750

8,459

1,291

29.931

29.931

24,650

23,999

651

78,050

76,893

1,157

103,511

101,251

2,260

34,061

31,735

2,326

68,406

66,830

1,576

16.954

16.954

6,085

4,775

1,310

155,101

153,269

1,832

113,747

111,821

1,926

128,072

121,757

6,315

74,483

66,282

8 ,2 0 1

82,643

81,577

1,066

36.415

36.415

26,040

24,634

1,406

51.598

51.598

53.532

53.532

83,104

79,557

3,547

80,833

78,315

2,518

41,099

40,062

1,037

65.305

65.305

13.603

13.603

14,184

11,784

2,400

277,570

272,208

5,362

127,442

124,976

2,466

67,685

63,517

4,168

68.710

68.710

58.982

58.982

19.798

19.798

63,367

58,189

5,178

53.950

53.950

204,159

198,237

5,922

130,898

126,087

4,811

80,887

78,707

2,180

40.208

40.208

107.877

107.877

38.028

38.028

10.712

10.712

269.204

269.204

56.334

56.334

68.143

68.143

22.246

22.246

32.995

32.995

*43,529

43,529

69,716

60,965

8,751

57.994

57.994

201.407

201.407

155.109

155.109

31.691

31.691

39.315

39.315

118.515

118.515

25.147

25.147

46.058

46.058

’414,692

414,692

268.249

268.249

141.391

141.391

73.062

73.062

112.414

112.414

182.642

182.642

36.968

36.968

*209,590'

162,402

47,188

379,558

332,455

47,103

184.187

184.187

80,021

80,021

10.670

10.670

190.700

190.700

26.109

26.109

2.533.888

2.533.888

105.913

105.913

56.196

56.196

111.348

111.348

153.337

153.337

991.680

991.680

714.485

714.485

382.657

382.657

748.679

748.679

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 113. AVERAGE DEPOSITS OF OPERATING COMMERCIAL BANKS DURING 19371— Continued

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE AND IN THE POSSESSIONS

All

banks

Banks with deposits of— 1

$1 0 0 ,0 0 0

and

under

$100,000 $250,000 $500,000 $1 ,0 0 0 ,0 0 0 $2 ,00 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0

to to to to to to to

$250,000 $500,000 $1 ,0 0 0 ,0 0 0 $2 ,00 0 ,0 0 0 $5,000,000 $1 0 ,0 0 0 ,0 0 0 $50,000,000

Over

$50,000,000

Nebraska................

Insured banks 

Noninsured banks

Nevada....................

Insured banks 

Noninsured banks 

New Hampshire... 

Insured banks... . 

Noninsured banks

New Jersey.............

Insured banks... . 

Noninsured banks

New Mexico...........

Insured banks 

Noninsured banks

New York...............

Insured banks.... 

Noninsured banks

North Carolina___

Insured banks. .. . 

Noninsured banks

North Dakota.......

Insured banks. .. . 

Noninsured banks

Ohio........................

Insured banks. .. . 

Noninsured banks

Oklahoma..............

Insured banks. .. . 

Noninsured banks

Oregon....................

Insured banks. .. . 

Noninsured banks

Pennsylvania.........

Insured banks. .. . 

Noninsured banks

Rhode Island........

Insured banks. .. . 

Noninsured banks

326,159

315,986

10,173

30,339

30,089

250

85,268

78,728

6,540

,693,801

,661,313

32,488

56,570

56,018

552

,928,945

,265,184

663,761

412,268

407,534

4,734

98,360

71,562

26,798

,207,387

,202,687

4,700

445,396

443,258

2,138

279,539

274,899

4,640

4,566,882

4,513,052

53,830

303,460

239,895

63,565

3,702

2,028

1,674

27,166

23,290

3,876

41,644

39,415

2,229

545

295

250

127 1,075 4,123

882 3,733

127 193 390

68 1,027 10,472

889 10,472

68 138

197 301 .........4,015

197 301 4,015

372 5,852 38,666

5,396 38,666

372 456

1,038 9,141 20,594

858 9,025 20,187

180 116 407

3,078 10,989 14,807

2,634 10,558 14,125

444 431 682

453 14,863 64,442

258 13,440 61,914

195 1,423 2,528

2,551 21,341 41,226

2,235 19,854 40,891

316 1,487 335

82 3,713 6,512

3,713 6,512

82

333 10,023 59,175

256 9,576 58,324

77 447 851

28

28

(In thousands of dollars)

38,078

37,193

885

1.905

1.905

16,103

13,317

2,786

55,788

54,211

1,577

6,468

5,916

552

127,433

126,381

1,052

25.597

25.597

6.632

6.632

137,371

136,817

554

38.602

38.602

12,811

12,811

2 0 2 ,8 6 6

196,703

6,163

1.938

1.938

30,540

29,031

1,509

4.293

4.293

12.938

12.938

164,304

163,162

1,142

14.232

14.232

251,174

248,071

3,103

58.349

58.349

' 13,487 

13,487

181.329

181.329

44.089

44.089

1 2,011

1 2,0 11

355,803

352,670

3,133

7,577

1,698

5,879

27.109

27.109

26,143

23,099

3,044

286.421

286.421

7.691

7.691

476,914

458,686

18,228

56,113

52,082

4,031

17.475

17.475

246.101

246.101

61.354

61.354

14,156

9,598

4,558

716.949

716.949

23,301

18,984

4,317

16.525

16.525

24.759

24.759

245.426

245.426

23.666

23.666

406.793

406.793

31.944

31.944

6.651

6.651

183.177

183.177

31.705

31.705

7.067

7.067

459,666

450,514

9,152

14.396

14.396

141.395

141.395

23.596

23.596

664,526

634,963

29,563

752,115

739,908

12,207

77.568

77.568

25,241

25,241

308.080

308.080

36.754

36.754

11.434

11.434

687,573

653,566

34,007

90,556

37,187

53,369

265.769

265.769

11,869,626

11,241,283

628,343

131.924

131.924

1.071.571

1.071.571

167.774

167.774

211.753

211.753

2.074.494

2.074.494

165.664

165.664

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
South Carolina.......

Insured banks........

Noninsured banks.

South Dakota.........

Insured banks.......

Noninsured banks.

Tennessee................

Insured banks.......

Noninsured banks.

Texas........................

Insured banks.......

Noninsured banks.

Utah..........................

Insured banks.......

Noninsured banks.

Vermont..................

Insured banks.......

Noninsured banks.

Virginia....................

Insured banks.......

Noninsured banks.

Washington............

Insured banks.......

Noninsured banks.

West Virginia.........

Insured banks.......

Noninsured banks.

Wisconsin................

Insured banks.......

Noninsured banks.

Wyoming.................

Insured banks.......

Noninsured banks.

152,064

144,366

7,698

87,662

87,070

592

486,439

483,862

2,577

1,335,183

.,310,721

24,462

147.707

147.707

106,616

106,616

557,467

557,379

88

439,957

428,772

11,185

283,061

278,288

4,773

860,969

852,633

8,336

62.058

62.058

1,842

981

861

2.096

2.096

2,586

2,349

237

5,942

4,346

1,596

99

99

505

417

88

704

631

73

92

775

646

129

318

318

4,720

3,600

1,1 2 0

14.020

14.020

16,364

16,014

350

35,768

31,994

3,774

1.550

1.550

535

535

8.063

8.063

5,242

5,015

227

4,105

3,689

416

19,484

19,223

261

733

733

12,928

11,704

1,224

13.129

13.129

24.673

24.673

’ 83,588 

78,581 

5,007

6.277

6.277

6.960

6.960

26,266

26,266

16,375

15,631

744

15,416

15,080

336

61,869

58,997

2,872

7.466

7.466

12,249

10,781

1,468

9,023

8,431

592

34,182

33,297

885

118,964

112,397

6,567

9.566

9.566

11,608

11,608

60.113

60.113

25.297

25.297

' 37,979 

36,840 

1,139 

104,661 

102,621 

2,040

10.482

10.482

21,013

17,988

3,025

14.781

14.781

42,727

41,622

1,105

102,957

101,764

1,193

12.158

12.158

30.553

30.553

84.893

84.893

18.503

18.503

' *41,809 

41,809

134.408

134.408

* 12,519 

12,519

26.046

26.046

17.362

17.362

28.804

28.804

158,382

152,057

6,325

5.641

5.641

44.448

44.448

95.997

95.997

24,757

22,165

2,592

73,866

71,076

2,790

128,348

125,314

3,034

16,822

16,822

11.591

11.591

17.251

17.251

25.879

25.879

148.321

148.321

6.349

6.349

12.512

12.512

51.780

51.780

61,086

53,537

7,549

33.388

33.388

81.380

81.380

13.718

13.718

61.675

61.675

199.014

199.014

507.575

507.575

106.067

106.067

160.728

160.728

81.670

81.670

76.406

76.406

135.232

135.232

112 ,21 0

1 1 2 ,2 1 0

173.686

173.686

69.122

69.122

206.323

206.323

194.812

194.812

deposits of insured banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937. Excludes figures for: 1 insured bank not a member of the Federal Reserve System for which daily average deposits are not available; 43 noninsured banks 

in the United States; and 1 noninsured bank in the possessions. See NOTE on page 65.

Back figures—See the following Annual Reports: 1936, page 128; 1935, page 156.

O

00DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 114. A v e r a g e DEPOSITS OF OPERATING MUTUAL SAVINGS BANKS DURING 19371

INSURED AND NONINSURED BANKS GROUPED BY AMOUNT OF DEPOSITS IN EACH STATE

All

banks

Banks with deposits of— 1

$1 00 ,00 0

and

under

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1,0 00 ,00 0

$1 ,0 0 0 ,0 0 0

to

$2 ,0 00 ,00 0

$2 ,0 00 ,00 0

to

$5,000,000

$5,000,000

to

$10 ,000 ,00 0

$10 ,0 00 ,00 0

to

$50,000,000

Over

$50,000,000

United States—total............ 10,126,578

999,659

9,126,919

715,567

94 537

236

301

1,974

740

1,234

(Inti

20,883

4,610

16,273

1,837

tousands of dol 

95,231 

17,130 

78,101

17,902

lars)

464,272

35,918

428,354

70,757

868,789

80,167

788,622

133,084

3,611,066

120,958

3,490,108

419,617

5,063,732

739,900

4,323,832

72,370

Insured banks......................

Noninsured banks................ 94

State

Connecticut.......................

Insured banks...................

Noninsured banks............ 715,567

35,341

1,837 17,902 70,757 133,084

8,440

419,617

26,901

72,370 Delaware.......... ..................

Insured banks...................

Noninsured banks............ 85,341

20,986

14,537

6,449

126,340

14,749

111,591

220,116

1,391

218,725

2,148,874

8,440

14,398

7,949

6,449

24,113

6,988

17,125

9,119

26,901 Indiana............................... 3.567

3.567

3.021 Insured banks................... 3.021 Noninsured banks............

Maine..................................

Insured banks...................

258 5,329

2,717

2,612

1.391

1.391

6,473

12,443 43,215

5,044

38,171

2,583

40,982

Noninsured banks............ 258

307

12,443

1,921

40,982 Maryland............................ 111,975 92,820 Insured banks...................

Noninsured banks............ 307 1,921

18,537

2,583

183,690

9,119

367,437

111,975

1,023,059

92,820

Massachu setts................... 94 167 549,417 Insured banks...................

Noninsured banks............. 2,148,874

66.762

66.762

94 167 6,473 18,537 183,690 367,437 1,023,059 549,417

66.762

66.762

Minnesota..........................

Insured banks...................

Noninsured banks............

New Hampshire................. 188,947 330 5,351 16,155 56,308 23,480 87,323 Insured banks...................

Noninsured banks............ 188,947

327,738

139,548

188,190

5,273,984

506,800

4,767,184

330

457

457

5,351

502

502

16,155

2,606

1,046

1,560

9,583

56,308

8,741

4,977

3,764

68,161

23,480

60,628

28,723

31,905

191,583

87,323

162,232

103,843

58,389

1,538,310

New Jersey......................... 92,572

........ 92,572

3,466,347

506,800

2,959,547

Insured banks...................

Noninsured banks............

New York............................

Insured banks...................

Noninsured banks............ 9,583 68,161 191,583 1,538,310

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Ohio.........................

Insured banks.......

Noninsured banks.

Oregon.....................

Insured banks.......

Noninsured banks.

Pennsylvania..........

Insured banks.......

Noninsured banks.

Rhode Island..........

Insured banks.......

Noninsured banks.

Vermont..................

Insured banks.......

Noninsured banks.

Washington............

Insured banks.......

Noninsured banks.

Wisconsin................

Insured banks.......

Noninsured banks.

117.968

117.968

1.589

1.589

576,181

6,321

569,860

176,191

176,191

64.171

64.171

61.363

61.363

4.460

4.460

134

134

236

236

339

339

283

283

1.480

1.480

1.589

1.589

6.745

6.745

1.087

1.087

1,616

1,616

6.321

6.321

4,920

4,920

11.057

11.057

2.890

2.890

2,608

2,608

7.536

7.536

28.971

28.971

79,172

79,172

104,380

104,380

17.115

17.115

108.952

108.952

490,688

490,688

66,418

66,418

57.386

57.386

December 31S 193i7SUrGd banks are averages of daily figures for the year; deposits of noninsured banks are averages of figures for December 31, 1936, June 30, 1937, and 

Back figures—See the following Annual Reports: 1936, page 132; 1935, page 164.

DEPOSITS OF BANKING OFFICES

Digitized for FRASER 

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

Table 115. SUMMARY OP ASSETS AND LIABILITIES OP OPERATING COMMERCIAL

B an k s in the U n ited States and P ossessions, D ecem ber 31, 1936, 

Ju n e 30, 1937, and D ecem ber 31, 1937

(Amounts in millions of dollars)

ASSETS AND LIABILITIES OF OPERATING BANKS

All banks

ASSETS

Cash and amounts due from other banks.......................................

United States Government obligations, direct and fully guaranteed

Other securities...............................................................................

Loans, discounts, and overdrafts....................................................

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

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

LIABILITIES AND CAPITAL

Total deposits..................................................................................

Miscellaneous liabilities...................................................................

Total capital account......................................................................

Total liabilities and capital account.................................

Number of banks:

Included in above figures.............................................................

Not included in above figures.....................................................

Total operating............................................................................

1936

Dec. 31

16,255

15,290

7,888

16,390

2,333

58,156

50,840

680

6,636

58,156

1937

June 30 Dec. 31

14,991

14,591

7,514

17,460

2,292

56,848

49,393

768

6,687

56,848

15,355

14,219

7,062

17,158

2 ,2 1 2

56,006

48,623

691

6,692

56,006

15,092

59

15,151

14,963

59

15,022

14,836

46

14,882

Insured banks

ASSETS

Cash and amounts due from other banks.......................................

United States Government obligations, direct and fully guaranteed

Other securities...............................................................................

Loans, discounts, and overdrafts....................................................

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

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

LIABILITIES AND CAPITAL

Total deposits..................................................................................

Miscellaneous liabilities...................................................................

Total capital account......................................................................

Total liabilities and capital account.................................

Number of banks:

Included in above figures.............................................................

Not included in above figures1.....................................................

Total operating............................................................................

15,731

14,749

7,558

15,940

2,218

56,196

49,258

609

6,329

56,196

14,540

13,965

7,214

17,015

2,158

54,892

47,800

696

6,396

54,892

14,931

13,669

6,807

16,718

2,096

54,221

47,191

626

6,404

54,221

13,970

3

13,973

13,885

2

13,887

13,795

2

13,797

Noninsured banks

ASSETS

Cash and amounts due from other banks........................................

United States Government obligations, direct and fully guaranteed.

Other securities.................................................................................

Loans, discounts, and overdrafts.....................................................

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

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

LIABILITIES AND CAPITAL

Total deposits........................................................

Miscellaneous liabilities.........................................

Total capital account.............................................

Total liabilities and capital account.......

524

541

330

450

115

1,960

1,582

71

307

1,960

451

626

300

445

134

1,956

1,593

72

291

1,956

424

550

255

440

116

1,785

1,432

65

288

1,785

Number of banks:

Included in above figures....................................

Statements of assets and liabilities not available. 

Total operating....................................................

1,1 2 2

56

1,178

1,078

57

1,135

1,041

44

1,085

HDn December 31,1936,2 trust companies not engaged in deposit banking, and 1 bank not a member 

of the Federal Reserve System from which a report was not received; on June 30 and December 31,1937,

2 trust companies not engaged in deposit banking.

Back figures—See the following Annual Reports: 1936, p. 134; 1935, p. 170.

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
ASSETS AND LIABILITIES OF OPERATING BANKS 107

Table 116. SUMMARY OF ASSETS AND LIABILITIES OF OPERATING MUTUAL

Savin gs B anks in th e U n ited States, D ecem ber 31, 1936,

Jun e 30,1937, and D ecem ber 31, 1937

(Amounts in millions of dollars)

1936

Dec. 31

1937

June 30 Dec. 31

All banks

ASSETS

Cash and amounts due from other banks.......................................

United States Government obligations, direct and fully guaranteed

Other securities...............................................................................

Loans, discounts, and overdrafts....................................................

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

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

LIABILITIES AND CAPITAL

Total deposits..................................................................................

Miscellaneous liabilities...................................................................

Total capital account......................................................................

Total liabilities and capital account.................................

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

565

2,188

2,730

4,973

942

11,398

10,061

19

1,318

11,398

529

2,342

2,746

4,972

938

11,527

10,163

24

1,340

11,527

547

2,464

2,677

4,929

922

11,539

10,173

22

1,344

11,539

563 562 562

Insured banks

ASSETS

Cash and amounts due from other banks.......................................

United States Government obligations, direct and fully guaranteed

Other securities...............................................................................

Loans, discounts, and overdrafts....................................................

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

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

LIABILITIES AND CAPITAL

Total deposits..................................................................................

Miscellaneous liabilities...................................................................

Total capital account......................................................................

Total liabilities and capital account.................................

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

70

237

262

469

94

1,132

998

131

1,132

69

252

247

470

101

1,139

1 ,002

4

133

1,139

72

250

246

472

101

1,141

1,004

3

134

1,141

56 56 56

Noninsured banks

ASSETS

Cash and amounts due from other banks.......................................

United States Government obligations, direct and fully guaranteed

Other securities...............................................................................

Loans, discounts, and overdrafts....................................................

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

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

LIABILITIES AND CAPITAL

Total deposits..................................................................................

Miscellaneous liabilities...................................................................

Total capital account......................................................................

Total liabilities and capital account.................................

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

495

1,951

2,468

4,504

848

10,266

9,063

16

1,187

10,266

460

2,090

2,499

4,502

837

10,388

9,161

20

1,207

10,388

475

2,214

2,431

4,457

821

10,398

9,169

19

1 ,210

10,398

507 506 506

Back figures—See the following Annual Reports: 1936, p. 135; 1935, p. 171.

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars)

T a b le 117. ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS, CALL DATES, g

Ju n e 30, 1934, t o D e ce m b e r 31, 1937 §o

1934 1935 1936 1937

June 30 Dec. 31 June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31

Number of banks1....................................................................... 13,896 14,137 14,175 14,123 14,059 13,970 13,885 13,795

ASSETS

Gash, balances with other banks, and cash items in process of 

collection:

Coin and currency..............................................................................

Reserve with Federal Reserve banks.................................................

Balances with private banks and American branches of foreign banks 

Other demand balances with banks in the United States:

In New York City..........................................................................

Other time balances with banks in the United States......................

Balances with banks in foreign countries..........................................

Cash items in process of collection....................................................

Total cash, balances with other banks, and cash items in 

process of collection.............................................................

Direct obligations of the U. S. Government:

Bonds ...............................................................................................

622,749

3,819,410

(2)

1,302,378

2,232,294

126,325

145,652

1,093,987

9,342,795

792,674

4,081,565

(2)

1,480,875

2,559,545

152,784

190,363

1,944,295

1 1 ,202 ,10 1

705,488

4,933,277

0

1,612,871

2,759,445

150,266

76,225

1,219,335

11,456,907

869,626

5,573,212

38,008

1,817,424

3,033,305

160,645

54,889

2,304,017

13,851,126

915,988

5,607,119

35,951

1,869,377

3,201,486

159,674

55,409

2,194,114

14,039,118

917,310

6,571,694

36,545

1,898,633

3,493,012

160,908

57,603

2,594,855

15,730,560

844,197

6,896,663

26,435

1,456,015

2,884,490

128,861

54,754

2,248,736

14,540,151

789,519

7,005,209

26,263

1,576,381

3,026,627

115,514

72,250

2,319,081

14,930,844

5,210,244

3,046,894

1,450,838

9,707,976

5,069,132

4,401,740

1,032,187

10,503,059

4,889,004

4,476,099

1,104,669

10,469,772

4,369,967

5,603,462

1,195,007

11,168,436

5,816,750

5,428,167

1,270,127

12,515,044

6,724,308

4,755,941

1,055,211

12,535,460

6,386,378

4,637,033

826,756

11,850,167

6,336,291

4,567,777

668,723

Total direct obligations of the U. S. Government............ 11,572,791

Obligations fully guaranteed by the U. S. Government:

Reconstruction Finance Corporation.................................................

Federal Farm Mortgage Corporation................................................

Home Owners’ Loan Corporation......................................................

Total obligations fully guaranteed by the U. S.

Other securities:

Obligations of:

Home Owners' Loan Corporation guaranteed as to interest only. ...

Federal Intermediate Credit banks................................................

States and their political subdivisions...........................................

Territorial and insular possessions of the United States...............

235,942

61,585

*295,997

593)524

245,462

326,788

637,585

1,209,835

246,715

447,451

1,188,051

1,882,217

243,393

563,041

1,300,419

2,106,853

238,076

575,357

1,444,000

2,257,433

212,709

568,258

1,433,126

2,214,093

2 2 1 ,1 1 1

484,318

1,409,116

2,114,545

257,687

494,590

1,344,284

2,096,561

f 273,466 

2,256,316 

23,256 

915,267

136,791 

J 177,353 

i 119,520 

2,388,770 

21,916 

980,743

10,498

205,925

134,422

2,558,536

21,507

1,025,574

224,116

98,702

2,633,631

24,326

1,017,472

258,191

139,687

2,758,456

19,521

1,173,943

229,903

114,260

2,734,041

22,089

1,232,832

199,937

131,772

2,662,173

22,057

1,203,111

182,987

134,943

2,567,801

19,119

1,121,469

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Public utilities................................. .

Real estate corporations.................

Other domestic corporations5......... .

Stock of Federal Reserve banks..........

Stock of other domestic corporations.. 

Foreign securities—public and private 

Total other securities..............

Total securities. . .

Loans, discounts, and overdrafts (including rediscounts):

Commercial paper bought in open market...............................

Notes, bills, acceptances, etc., payable in foreign countries... 

Acceptances of other banks payable in the United States.. . .

Reporting banks’ own acceptances..........................................

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

Loans to brokers and dealers in securities:

In New York City.................................................................

Elsewhere...............................................................................

Loans on farm land...................................................................

Loans on other real estate........................................................

Agricultural loans (excluding loans on farm land)...................

Commercial and industrial loans..............................................

All other loans:

On securities..........................................................................

Otherwise secured and unsecured.........................................

Overdrafts..................................................................................

Total loans, discounts, and overdrafts.......................

Miscellaneous assets:

Banking house, furniture and fixtures..............................

Other real estate owned.....................................................

Customer’s liability on account of acceptances................

Redemption fund and due from United States Treasurer.

Borrowed securities............................................................

Other assets........................................................................

Total miscellaneous assets....................................

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

902,784

106,673

703,466

145,990

535,131

334,236

6,196,585

908,600

101,533

691,339

146,553

489,402

296,093

6,458,613

975,497

97,597

711,150

146,382

501,800

295,610

6,684,498

1,090,295

97,632

745,078

130,317

486,065

293,465

6,841,099

1,176,996

91,988

853,656

130,810

510,502

297,859

7,411,609

1,287,352

89,507

932,697

130,744

505,643

278,638

7,557,706

1,137,234

80,226

878,815

132,238

493,220

273,068

7,213,851

1,035,529

73,681

837,660

132,637

483,742

217,852

6,807,420

16,498,085 18,171,507 19,036,487 20,116,388 22,184,086 22,307,259 21,178,563 20,476,772

218,727

20,559

265,222

216,690

165,095

257,223

31,987

257,273

235,382

163,951

284,725

17,751

201,164

138,969

127,807

309,903

29,377

181,539

174,874

105,322

318,879

17,979

144,298

118,780

86,865

378.018 

18,703

161.019 

133,090

90,269

440,745

15,533

131,645

115,626

118,973

419,652

22,938

127,946

131,435

73,497

1,116,165

213,261

555,885

2,906,282

(2)

<*>

876,561

191,825

499,251

2,836,414

(2)

(2)

993,856

197,497

497,475

2,832,874

(2)

<2)

1,064,772

203,078

487,505

2,835,257

(2)

(2)

1,097,524

273,513

489,244

2,876,819

661,606

*229,765

1,172,495

274,269

487,604

2,959,251

637,369

•244,446

1,300,825

265,611

504,217

3,080,036

726,400

<268,971

752,540

218,728

501,543

3,139,457

788,355

<265,499

3,713,803

5,789,309

7,680

15,188,678

3,492,460

5,751,098

9,729

14,603,154

3,294,779

5,901,592

6,966

14,495,455

3,228,460

6,068,215

9,679

14,697,981

3,193,292

5,591,228

7,393

15,107,185

3,102,832

6,270,346

1 0,0 11

15,939,722

3,150,481

6,885,564

9,996

17,014,623

3,065,034

7,201,866

8,977

16,717,467

1,212,843

426,996

254,360

36,249

5,110

470,672

2,406,230

1,212,438

465,313

243,093

33,956

3,641

504,067

2,462,508

1,209,938

507,573

158,934

11,842

2,306

372,177

2,262,770

1,196,266

550,723

180,495

1,194,621

574,024

159,267

1,177,752

560,468

181,281

1,172,617

537,430

190,745

1,160,501

519,572

157,141

1,489

323,095

2,252,068

1 ,0 0 0

319,091

2,248,003

1,115

297,760

2,218,376

818

256,629

2,158,239

1,162

257,910

2,096,286

43,435,788 46,439,270 47,251,619 50,917,563 53,578,392 56,195,917 54,891,576 54,221,369

ASSETS AND LIABILITIES OP OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
(Amounts in thousands of dollars)

T a b le 117, A ssets AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS, CALL DATES,

June 30, 1934, t o D ecem ber 31, 1937— Continued

1934 1935 1936 1937

June 30 Dec. 31 June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31

14,881,070

1,708,141

2,023,548

400,287

19,013,046

16,717,180

1,686,555

2,265,552

862,934

21,532,221

18,029,625

804,567

2,586,882

445,727

21,866,801

20,074,063

881,308

2,674,238

921,170

24,550,779

21,463,913

1,105,886

2,885,335

832,437

26,287,571

23,419,236

946,564

2,916,202

935,237

28,217,239

22,624,279

651,489

3,164,685

802,196

27,242,649

22,106,285

801,354

2,668,152

813,974

26,389,765

9,163,890

1,459,611

617,041

79,656

661,327

384,032

12,365,557

9,708,911

1,363,516

556,316

25,549

524,404

335,070

12,513,766

10,236,013

1,355,785

577,171

85,102

372,479

325,624

12,952,174

10,575,116

1,299,133

590,436

30,874

279,928

405,187

13,180,674

10,933,195

1,335,166

637,045

100,291

195,840

428,928

13,630,465

11,491,137

1,254,003

676,659

32,343

139,737

347,084

13,940,963

11,814,508

1,243,390

753,974

120,922

131,602

346,429

14,410,825

12,100,322

1,213,532

608,950

36,739

125,915

588,044

14,673,502

4,270,506

164,485

4,434,991

4,794,507

155,846

4,950,353

5,201,586

279,638

5,481,224

5,941,190

452,978

6,394,168

6,232,648

475,065

6,707,713

6,657,491

442,291

7,099,782

5,514,043

632,375

6,146,418

5,662,112

466,036

6,128,148

35,813,594 38,996,340 40,300,199 44,125,621 46,625,749 49,257,984 47,799,892 47,191,415

694,790

78,850

5,110

61,387

279,212

(2)

258,518

683,077

650,935

48,768

3,641

43,943

263,672

42,287

238,117

640,428

222,045

46,299

2,306

35,304

175,659

37,897

218,708

516,173

35,019

1,489

31,347

198,718

43,598

271,346

581,517

38,558

1,0 0 0

27,578

180,299

45,682

360,938

654,055

32,296

1,115

23,634

203,226

48,502

300,458

609,231

35,425

818

21,823

215,267

46,599

375,694

695,626

30,082

1,162

18,924

176,128

46,301

353,315

625,912

37,191,461 40,287,703 41,038,417 44,707,138 47,279,804 49,867,215 48,495,518 47,817,327

LIABILITIES AND CAPITAL

Demand deposits (exclusive of interbank deposits):

Individuals, partnerships, and corporations.....................................

United States Government.................................................................

States and their political subdivisions...............................................

Cash letters of credit, certified, officers’ , and travelers' checks outstanding, and amounts due to Federal Reserve banks.................

Total demand deposits...........................................................

Time deposits (exclusive of interbank deposits) *

Individuals, partnerships, and corporations:

Evidenced by savings pass books..................................................

Certificates of deposit.....................................................................

Open accounts.................................................................................

Christmas savings and similar accounts........................................

Postal savings.....................................................................................

States and their political subdivisions...............................................

Total time deposits.................................................................

Interbank deposits:

Banks in the United States................................................................

Banks in foreign countries..................................................................

Total interbank deposits........................................................

Total deposits........................................................................

Circulating notes outstanding---- ----

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for borrowed money7

Securities borrowed.............................................................................

Mortgage bonds and participation certificates outstanding.........

Acceptances outstanding executed by or for the account of reporting

banks......................................................................................

Dividends declared but not yet payable8.................................

Other liabilities..........................................................................

Total miscellaneous liabilities.....................................

Total liabilities (excluding capital account).........

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Capital account:

Capital stock, notes, and debentures................................................

Surplus...............................................................................................

Undivided profits—net..................................................*.*!.*!!!!!!!!

Reserves for contingencies and undeclared dividends*................

Retirement fund for preferred stock, capital notes, and debentures.. 

Total capital account.............................................................

Total liabilities and capital account...................................

MEMORANDUM

Pledged assets:

United States Government obligations, direct and fully guaranteed,

pledged to secure liabilities............................................................

Other assets pledged to secure liabilities......................................... '

Secured liabilities:

Deposits secured by pledged assets pursuant to requirement of law.

3,319,216

1,962,163

470,668

491,126

1,154

6,244,327

3,348,841

1,914,833

470,017

414,087

3,789

6,151,567

3,365,309

1,892,655

529,451

420,661

5,126

6,213,202

3,300,196

1,946,020

548,084

407,369

8,756

6,210,425

3,212,615

2,042,072

628,478

401,455

13,968

6,298,588

3,081,433

2,184,512

6 66 ,02 0

374,295

22,442

6,328,702

3,053,970

2,225,180

707,589

384,103

25,216

6,396,058

3,030,146

2,268,179

711,186

366,868

27,663

6,404,042

43,435,788 46,439,270 47,251,619 50,917,563 53,578,392 56,195,917 54,891,576 54,221,369

3,922,453

1,880,591

4,048,426

1,500,536

3,101,588

1,342,620

2,994,476

1,180,649

3,438,857

1,043,355

3,217,375

1,014,004

3,114,308

979,258

3,190,912

948,196

4,202,769 4,084,550 3,445,769 3,492,359 3,838,827 3,590,329 3,368,921 3,341,823

«des ti ie foll°wmg insured banks not members of the Federal Reserve System: 43 on June 30, 1934; 12 on December 31, 1934; 4 on June 29, 1935; 3 on December 

31, 1935; 6 on June 30, 1936; 3 on December 31, 1936; 2 on June 30, 1937; and 2 on December 31, 1937.

2Not reported separately.

8Includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.

4Not available. See footnote 3.

includes obligations of Joint Stock Land banks.

•Amounts reported separately only for banks not members of the Federal Reserve System.

Includes agreements to repurchase securities sold and obligations on industrial advances transferred to Federal Reserve banks.

"Dividends declared but not yet payable includes for national banks, amounts set aside for dividends not declared, and for State banks members of the Federal Reserve 

System, amounts set aside for dividends not declared and for accrued interest on capital notes and debentures.

ASSETS AND LIABILITIES OP OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 118. A ssets AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM, £*

C a l l D a te s, Ju n e 30,1934, t o D e ce m b e r 31,1937 to

(Amounts in thousands of dollars)

1934 1935 1936 1937

June 30 Dec. 31 June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31

7,521 7,695 7,765 7,736 7,659 7,594 7,528 7,454

ASSETS

Gash, balances with other banks, and cash items in process of 

collection:

Balances with private banks and American branches of foreign banks 

Other demand balances with banks in the United States:

Other time balances with banks in the United States......................

Total cash, balances with other banks, and cash items in

150,106

(a)

185,723

682,672

32,316

4,972

37,208

1,092,997

184,072

(a)

199,984

804,602

39,645

5,848

40,988

1,275,139

168,478

(2)

233,015

853,898

39,566

4,981

35,962

1,335,900

204,848

1,249

256,956

972,764

42,534

4,101

49,262

1,531,714

202,567

1,488

261,386

1,016,739

43,363

3,711

46,621

1,575,875

219,930

900

298,823

1,174,202

48,716

2,123

61,580

1,806,274

214,892

1,064

254,501

985,833

47,429

2,777

47,907

1,554,403

200,062

1,476

287,071

996,152

45,696

2,527

59,730

1,592,714

Direct obligations of the U. S. Government: 371,801

175,996

23,495

571,292

410,583

184,556

2,228

597,367

431,038

162,194

5,414

598,646

464,482

199,996

3,431

667,909

521,901

267,482

4,186

793,569

663,984

229,296

2,694

895,974

697,206

276,416

6,141

979,763

700,961

290,736

6,951

Total direct obligations of the U. S. Government 998,648 ............

Obligations fully guaranteed by the U. S. Government:

Federal Farm Mortgage Corporation................................................

Total obligations fully guaranteed by the U. S.

922

20,461

863,498

84,881

4,073

84,688

131,866

220,627

2,991

114,204

206,641

323,836

1,989

127,535

209,465

338,989

1,994

116,966

188,016

306,976

2,381

110,870

195,124

308,375

1,509

98,093

196,413

296,015

2,255

95,691

201,208

299,154

Other securities:

Obligations of: .

Home Owners* Loan Corporation guaranteed as to interest only..

Territorial and insular possessions of the United States...............

I 0) V 34,812

424,258

4,527

179,659

25,643 

J 41,338 

1 2,231 

441,135 

4,815 

187,760

3,109

43,456

1,055

457,024

4,708

200,516

48,955

873

474,534

5,908

195,635

49,828

2 ,6 8 6

494,189

3,911

225,605

45,343

3,192

525,403

4,315

240,898

38,099

4,236

529,514

4,677

246,170

32,881

4,769

535,933

4,376

235,826

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Public utilities.......................................................................

Real estate corporations.......................................................

Other domestic corporations5................................................

Stock of other domestic corporations.......................................

Foreign securities—public and private.....................................

Total other securities....................................................

Total securities...........................................................

Loans, discounts, and overdrafts (including rediscounts):

Commercial paper bought in open market.............................

Notes, bills, acceptances, etc., payable in foreign countries... 

Acceptances of other banks payable in the United States. . . .

Reporting banks’ own acceptances..........................................

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

Loans to brokers and dealers in securities:

In New York City................................................................

Elsewhere...............................................................................

Loans on farm land..................................................................

Loans on other real estate........................................................

Agricultural loans (excluding loans on farm land)®..................

Commercial and industrial loans6 ............................................

All other loans:

On securities..........................................................................

Otherwise secured and unsecured.........................................

Overdrafts.................................................................................

Total loans, discounts, and overdrafts......................

Miscellaneous assets:

Banking house, furniture and fixtures...................................

Other real estate owned............................................................

Customers* liability on account of acceptances.......................

Borrowed securities...................................................................

Other assets...............................................................................

Total miscellaneous assets...........................................

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

191,183

28,894

138,177

131,174

57,369

1,190,053

193,797

26,794

137,365

118,632

51,828

1,231,338

210,820

26,066

142,160

118,914

49,525

1,257,353

234,648

23,307

159,390

106,910

49,558

1,299,718

250,841

22,675

173,324

95,995

47,522

1,366,576

285,267

20,532

201,162

94,828

42,139

1,463,079

266,501

20,343

202,478

92,161

44,920

1,449,099

241,058

18,084

188,593

86,968

36,550

1,385,038

1,846,226 2,049,332 2,179,835 2,306,616 2,467,121 2,667,428 2,724,877 2,682,840

18,723

357

1,482

6,532

12,029

24,782

583

1,232

3,558

8,454

37,621

459

537

3,751

8,753

37,954

460

528

5,477

7,337

40,932

284

231

1,589

6,173

54,276

315

494

1,959

5,160

63,816

385

947

2,379

4,323

56,055

436

2,111

1,740

3,554

34,538

5,723

267,405

838,062

33,193

5,120

237,455

824,849

19,224

5,688

238,946

814,066

17,897

6,810

236,290

802,623

18,629

7,191

233,088

792,797

240,992

229,765

28,049 

8,107 

229,377 

812,946 

211,482 

244 446

22,585 

7,819 

239,712 

839,170 

266 654

14,417

6,649

236,619

856,954

288,297 OfiQ Q71 ocr’aqq

404,945

1,073,723

2,179

2,665,698

382,900

1,049,763

3,162

2,575,051

363,681

1,072,608

2,155

2,567,489

335,917

1,068,632

2,954

2,522,879

329,840

662,089

1,740

2,565,340

318,096

662,680

2,482

2,579,869

321,119

690,388

1,480

2,729,748

312,614

712,716

1,983

2,759,644

215,026

140,648

1,444

2,586

86,352

446,056

211,351

151,757

1,142

1,745

96,562

462,557

211,293

168,487

1,183

1,388

61,400

443,751

204,582

183,744

1,424

698

43,871

434,319

199,700

194,567

2,313

445

39,044

436,069

195,777

192,982

1,867

526

32,861

424,013

192,242

183,716

3,602

473

33,902

413,935

189,036

176,878

2,637

267

31,841

400,659

6,050,977 6,362,079 6,526,975 6,795,528 7,044,405 7,477,584 7,422,963 7,435,857

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 118. A s s e ts AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM,

C a l l D a te s , Jun e 30, 1934, t o D e ce m b e r 31, 1937—C o n tin u e d

(Amounts in thousands of dollars)

1934 1935 1936 1937

June 30 Dec. 31 June 29 Dec. 31 June 30 Dec. 31 June 30 Dec. 31

1,532,346

50,348

425,678

1,766,011

51,039

466,117

1,823,382

25,851

496,274

2,038,981

37,267

534,774

2,141,915

69,311

564,882

2,448,932

64,603

587,022

2,351,847

23,364

587,240

2,358,835

20,320

536,168

28,621

2,036,993

24,679

2,307,846

29,116

2,374,623

39,464

2,650,486

43,300

2,819,408

54,106

3,154,663

50,582

3,013,033

46,632

2,961,955

1,995,651

514,433

26,669

20,207

76,300

51,358

2,684,618

2.109.883 

481,538

36,227

6 ,2 0 2

72,416

40,618

2.746.884

2,250,367

487,005

34,564

20,369

65,876

40,548

2,898,729

2,281,256

483,232

42,064

9,371

62,364

43,841

2,922,128

2,367,563

491,911

24,032

22,996

43,606

50,930

3,001,038

2,499,921

488,688

29,161

7,024

35,368

50,855

3,111,017

2,569,941

485,772

29,870

29,329

31,866

54,149

3,200,927

2,639,196

473,205

33,118

7,978

31,262

106,323

3,291,082

78,109

1,507

79,616

91,691

1,514

93,205

87,410

1,310

88,720

94,620

4,204

98,824

95,514

4,225

99,739

102,288

4,690

106,978

92,812

3,074

95,886

97,029

2,693

99,722

4,801,227 5,147,935 5,362,072 5,671,438 5,920,185 6,372,658 6,309,846 6,352,759

38,696

2,586

12,450

29,640 

1,745 

* 8,678

30,023

1,388

7,729

20,820

698

6,905

18,706

445

6,801

15,116

526

5,101

17,991

473

4,854

15,432

267

3,844

1,214

55,401

110,347

905

1,975

74,129

117,072

1,090

1,621

23,476

65,327

1,147

2,579

26,688

58,837

2,078

1,683

31,286

60,999

1,739

3,071

25,850

51,403

3,468

2,500

26,568

55,854

2,517

2,878

25,293

50,231

4,911,574 5,265,007 5,427,399 5,730,275 5,981,184 6,424,061 6,365,700 6,402,990

LIABILITIES AND CAPITAL

Demand deposits (exclusive of interbank deposits):

Individuals, partnerships, and corporations.....................................

United States Government.................................................................

States and their political subdivisions...............................................

Cash letters of credit, certified, officers’, and travelers' checks outstanding, and amounts due to Federal Reserve banks.................

Total demand deposits...........................................................

Time deposits (exclusive of interbank deposits):

Individuals, partnerships, and corporations:

Evidenced by savings pass books..................................................

Certificates of deposit.....................................................................

Open accounts.................................................................................

Christmas savings and similar accounts........................................

Postal savings.....................................................................................

States and their political subdivisions...............................................

Total time deposits.................................................................

Interbank deposits:

Banks in the United States................................................................

Banks in foreign countries.................................................................

Total interbank deposits........................................................

Total deposits.

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for borrowed money7

Securities borrowed............................................................................

Mortgage bonds and participation certificates outstanding.............

Acceptances outstanding executed by or for the account of reporting

banks...............................................................................................

Dividends declared but not yet payable...........................................

Other liabilities...................................................................................

Total miscellaneous liabilities..............................................

Total liabilities (excluding capital account)..................

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Capital account:

Capital stock, notes, and debentures................................................

Surplus................................................................................................

Undivided profits—net......................................................................

Reserve for contingencies and undeclared dividends........................

Retirement fund for preferred stock, capital notes, and debentures.. 

Total capital account.............................................................

Total liabilities and capital account...................................

MEMORANDUM

Pledged assets and securities loaned:

United States Government obligations, direct and fully guaranteed,

pledged to secure liabilities............................................................

Other assets pledged to secure liabilities..........................................

Assets deposited with State authorities to qualify for the exercise of 

fiduciary or corporate powers, or pledged for other purposes6. . . .

Securities loaned to banks, dealers in securities, and others6...........

Total pledged assets and securities loaned........................

Secured and preferred liabilities:

Deposits secured by pledged assets pursuant to requirement of law.. 

Deposits preferred under the provisions of law but not secured by

pledge of assets6..............................................................................

Bills payable, rediscounts, and other liabilities for borrowed money6

Other liabilities secured by pledged assets6.......................................

Total secured and preferred liabilities................................

667,034

271,603

83,440

116,869

457

1,139,403

6,050,977

182,483

370,742

378,632

684,755

253,177

79,004

78,869

1,267

1,097,072

6,362,079

209,650

306,713

390,527

681,990

245,631

93,085

77,133

1,737

1,099,576

6,526,975

225,203

256,788

362,174

666,456

235,421

89,792

70,994

2,590

1,065,253

6,795,528

244,182

238,010

391,638

645,418

235,556

108,195

70,145

3,907

1,063,221

7,044,405

265,258

199,182

37,473

293

502,206

406,005

60,505

2 0 ,2 2 1

16,551

503,282

627,593

248,142

105,696

64,478

7,614

1,053,523

7,477,584

277,258

190,574

30,933

472

499,237

408,743

74,008

14,645

13,113

510,509

609,721

253,716

120,094

64,455

9,277

,057,263

7,422,963

255,421

190,697

27,862

65

474,045

374,035

66,790

16,552

9,710

467,087

599,540

257,758

108,756

55,513

11,300

1,032,867

7,435,857

279,744

183,347

25,371

109

488,571

372,788

75,545

14,270

5,448

468,051

TM ^cludes the w.1?JLln~ured banks not members of the Federal Reserve System: 43 on June 30, 1934; 12 on December 31, 1934; 4 on June 29, 1935; 3 on December 

31, 1935; 6 on June 30, 1936; 3 on December 31, 1936; 2 on June 30, 1937; and 2 on December 31, 1937.

2Not reported separately.

includes Home Owners’ Loan Corporation 4 percent bonds guaranteed as to interest only.

4Not available. See footnote 3.

includes obligations of Joint Stock Land banks.

•Amounts reported separately only for call dates June 30, 1936, to December 31, 1937.

7Includes agreements to repurchase securities sold.

ASSETS AND LIABILITIES OP OPERATING BANKS 115

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OF DEPOSITS

Table 119. ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE FEDERAL RESERVE SYSTEM,

D e c e m b e r 31, 1937

All

banks

Banks with deposits of—

$1 00,000

and

under

$1 00 ,00 0

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$50,000,000

Over

$50,000,000

Number of banks1.................................. 7,442 587 2,151 2 ,0 2 1 1,377 788 377 79 57 5

ASSETS

Cash, balances with other banks, and cash 

items in process of collection:

Coin and currency.........................................

Balances with banks.....................................

Cash items in process of collection...............

Total cash, balances with other banks, 

and cash items in process of collection ...................................................

Securities:

Obligations, direct, of the U. S. Government. 

Obligations fully guaranteed by the U. S.

Government...............................................

Obligations of States and their political

subdivisions................................................

Other securities.............................................

Total securities.......................................

Loans, discounts, and overdrafts (including rediscounts):

Commercial paper bought in open market.. 

Notes, bills, acceptances, etc., payable in 

foreign countries.......................................

198,519

1,325,331

57,807

1,581,657

2 ,1 0 2

13,738

98

15,938

13,555

103,779

711

118,045

(I)

24,342

181,778

2,310

208,430

n thousands c

30,936

217,424

4,276

252,636

>f dollars)

36,468

232,858

8 ,0 0 0

277,326

35,794

205,559

11,494

252,847

16,528

97,256

7,506

121,290

30,984

207,954

15,270

254,208

7,810

64,985

8,142

80,937

993,662

298,351

535,778

843,879

2,671,670

3,580

1,534

3,249

1,507

9,870

37,060

16,678

32,085

30,431

116,254

79,116

35,249

69,221

77,831

261,417

113,371

49,038

90,019

133,275

385,703

144,754

52,925

98,136

165,291

461,106

186,885

54,727

83,661

189,329

514,602

95,853

18,701

36,914

85,399

236,867

209,999

44,907

74,299

138,183

467,388

123,044

24,592

48,194

22,633

218,463

55,245

436

2 ,1 1 1

1,740

3,554

14,417

6,646

236,496

849,141

288,293

265,499

309,907

701,813

1,981

2,737,279

76 1,692

4

15

143

172

5,307 8,461

123

2

30

350

8,995 15,365

259

151

20

341

375

1,013

23,735

179,568

13,441

55,588

69,235

99,836

119

459,046

5,720

27

147

154

1,361

830

7,291

83,907

2,355

23,591

36,013

59,523

108

221,027

9,629

23

1,756

1.351 

1 ,6 6 6

7.352 

3,127 

6,642

143,548

1,349

38,571

83,471

99,386

43

397,914

5,180

224

2,231

126,652

1

6,172

15,605

10,432

3

166,500

Acceptances of other banks payable in the

United States.............................................

Reporting banks' own acceptances...............

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

Loans to brokers and dealers in securities: 

Ijj New York City . ..........................

49

5

100

339

35

96

483

149

1 ,0 0 1

45,501

144,189

35,689

50,029

57,155

135,339

594

479,255

Elsewhere...................................................

Loans on farm land.......................................

Loans on other real estate............................

Agricultural loans (excluding loans on farm

land)...........................................................

Commercial and industrial loans..................

All other loans:

On securities..............................................

Otherwise secured and unsecured.............

Overdrafts......................................................

Total loans, discounts, and overdrafts

Total loans and securities.................

3,446

1,902

12,874

1,945

416

6,871

63

27,642

3

31,051

21,171

70,429

15,164

4,732

56,870

249

201,695

147

54,348

53,343

84,312

31,730

14,463

100,216

319

344,629

301

62,251

94,861

67,843

42,709

28,817

133,340

483

439,571

5,408,949 37,512 317,949 606,046 825,274 940,361 973,648 457,894 865,302 384,963

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Miscellaneous assets:

Banking house, furniture and fixtures..........

Other real estate owned..................................

Customers' liability on account of acceptances ..............................................................

Borrowed securities.........................................

187,798

176,780

2,623

267

1,947

1,397

1

1

10,723

6,462

10

79

17,384 

10,623 i

40

86

I

23,725

17,747

64

10

1

32,072

24,521

36

91

36,569

32,157

277

16,421

22,990

162

39,383

49,876

2,017

9,069

11,007

16

Other assets......................................................

Total miscellaneous assets....................

31,742

399,210

184

3,530

728

18,002

1,245

29,378

2,198

43,744

2,666

59,386

4,375

73,378

4,922

44,495

14,186

105,967

1,238

21,330

Total assets................................................ 7,389,816 56,980 453,996 843,854 1,121,654 1,277,073 1,299,873 623,679 1,225,477 487,230

LIABILITIES AND CAPITAL 

Deposits:

Individuals, partnerships, and corporations:

Demand........................................................

Time..............................................................

States and their political subdivisions..........

United States Government.............................

Postal savings..................................................

Other banks.....................................................

Cash letters of credit, certified, officers’ , and

travelers’ checks outstanding.....................

Total deposits............................................

Demand.....................................................

T im e..........................................................

2,341,418

3,134,080

641,951

20,146

31,199

99,516

46,391

6,314,701

3,029,011

8,285,690

24,481

11,160

5,246

26

167

415

169

41,664

29,611

12,053

189,707

131,567

45,106

339

1,868

1,841

1,848

372,276

234,416

137,860

329,165

297,335

82,861

808

5,401

3,185

4,194

722,949

A ll,092

311,857

388,901

450,229

103,952

1,283

7,821

6,115

6,349

964,650

494,821

469,829

419,446

543,570

110,386

1,727

6,461

9,853

7,851

1,099,294

533,116

566,173

388,923

594,180

94,040

2,829

4,148

15,714

9,225

1,109,059

487,429

621,630

184,488

283,929

45,294

2,680

1,525

9,588

4,424

531,928

233,061

298,867

342,990

509,363

121,137

7,334

3,808

41,869

7,648

1,034,149

489,905

544,244

73,317

312,747

33,929

3,120

........10,936

4,683

438,732

115,560

323,172

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for borrowed money2......................

Securities borrowed.........................................

15,432

267

75

1

709

79

890

86

1,376

10

1,955

91

1,590 463 8,374

Mortgage bonds and participation certificates

outstanding................................................... 3,844 65 160 959 1,256 1,116 58 121 109

Acceptances outstanding executed by or for

the account of reporting banks.................. 2,503

2,827

28 35 260 102 2,062

338

16

Dividends declared but not yet payable. . . . 46 245 428 462 481 471 268 88

Other liabilities................................................ 24,866 112 750 1,473 2,736 3,342 3,712 4,039 7,401 1,301

Total miscellaneous liabilities............. 49,739 234 1,848 3,037 5,571 7,160 7,149 4,930 18,296 1,514

Total liabilities (excluding capital

accou n t).............................................. 6,364,440 41,898 374,124 725,986 970,22! 1,106,454 1,116,208 536,858 1,052,445 440,246

Capital account:

Capital stock, notes, and debentures............ 595,247 11,568 55,752 77,651 94,346 103,271 103,438 48,050 81,339 19,832

Surplus.............................................................. 255,697 2,270 14,362

7,020

23,270 32,954 39,679 43,636 24,865 57,554 17,107

Undivided profits—net................................... 108,134 939 11,663 15,865 17,682 21,224 9,080 18,586 6,075

Reserve for contingencies and undeclared

dividends....................................................... 55,119 209 1,873 3,858 6,517 7,584 13,226 4,170 14,123 3,559

Retirement fund for preferred stock, capital

notes, and debentures................................. 11,179 96 865 1,426 1,751 2,403 2,141 656 1,430 411

Total capital accoun t.............................. 1,025,376 15,082 79,872 117,868 151,433 170,619 183,665 86,821 173,032 46,984

Total liabilities and capital accou n t.. 7,389,816 56,980 453,996 843,854 1,121,654 1,277,073 1,299,873 623,679 1,225,477 487,230

Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in the -q 

District of Columbia; and 2 other State banks.

’Includes agreements to repurchase securities sold.

Back figures—See the following Annual Reports: 1936, p. 142; 1935, p. 176; 1934, p. 198.

ASSETS AND LIABILITIES OF OPERATING BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OP DEPOSITS

T a b le 120. AVERAGES PER BANK OP ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE

F e d e r a l R e s e r v e System , D e ce m b e r 31, 1937

All

banks

Banks with deposits of—

$1 00,000

and

under

$1 00,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1 ,0 00 ,00 0

$1 ,0 0 0 ,0 0 0

to

$2 ,00 0 ,0 0 0

$2 ,0 00 ,00 0

to

$5,000,000

$5,000,000

to

$1 0 ,0 00 ,00 0

$1 0 ,0 00 ,00 0

to

$50,000,000

Over

$50,000,000

i1)

Number of banks2.................................. 7,442 587 2,151 2 ,0 2 1 1,377 788 377 79 57 5

ASSETS

Cash, balances with other banks, and cash 

items in process of collection:

$26,675 $3,581 $6,302 $12,045 $22,466 $46,279 $94,944 $209,215 $543,579 $1,562,000

178,088 23,404 48,246 89,944 157,897 295,506 545,250 1,231,088 3,648,316 12,997,000

7,768

212,531

167 331 1,143 3,105 10,152 30,488 95,013 267,895 1,628,400

Total cash, balances with other banks, 

and cash items in process of col27,152 54,879 103,132 183,468 351,937 670,682 1,535,316 4,459,790 16,187,400

Securities:

Obligations, direct, of the U. S. Government. 

Obligations fully guaranteed by the U. S. 

Government...............................................

$133,520

40,090

$6,098

2,614

$17,229

7,754

$39,146

17,442

$82,332

35,612

$183,698

67,164

$495,717

145,164

$1,213,330

236,721

$3,684,193

787,842

$24,608,800

4,918,400

Obligations of States and their political 

subdivisions................................................ 71,994 5,535 14,916 34,251 65,373 124,538 221,912 467,266 1,303,491 9,638,800

Other securities............................................. 113,394

358,998

2,568 14,148 38,511 96,787 209,760 502,198 1,081,000 2,424,263 4,526,600

Total securities....................................... 16,815 54,047 129,350 280,104 585,160 1,364,991 2,998,317 8,199,789 43,692,600

Loans, discounts, and overdrafts (including rediscounts) :

Commercial paper bought in open market.. 

Notes, bills, acceptances, etc., payable in 

foreign countries ..................................

$7,423

59

$129 $787

2

$2,626 $6,145

89

$11,415 $40,756

687

$72,405

342

$168,930

404

Acceptances of other banks payable in the 

United States ....................................... 284 7 2 1 44 400 1,861 30,807

Pannrfincr Kanlra’ nnrn jU'PPnfiinr'P!) 234

477

66 50 22 122 53 23,702

Loans to banks . ......... 84 80 168 254 613 904 1,949 29,228

Loans to brokers and dealers in securities: 

In New York City 1,937

893

189 995 17,228 128,982 $1,036,000

Elsewhere................................................... 1 73 218 1,270 2,687 10,506 54,860 44,800

Loans on farm land....................................... 31,778

114,102

38,738

5,871 14,436 26,892 45,208 57,742 62,958 92,291 116,526 446,200

Loans on other real estate............................ 3,240 9,842 26,394 68,890 182,981 476,308 1,062,114 2,518,386 25,330,400

Agricultural loans (excluding loans on farm 

land)........................................................... 21,932 32,742 41,718 49,269 45,291 35,653 29,810 23,667 200

Commercial and industrial loans.................. 35,677

41,643

94,304

266

3,313 7,050 15,700 31,016 63,489 147,448 298,620 676,684 1,234,400

All other loans:

On securities ............................................. 709 2 ,2 0 0 7,156 20,927 72,532 183,647 455,861 1,464,403 3 ,121,000

Otherwise secured and unsecured............. 11,705 26,439 49,587 96,834 171,750 264,817 753,456 1,743,614 2,086,400

Overdrafts...................................................... 107 116 158 351 754 315 1,367 754 600

Total loans, discounts, and overdrafts 367,815 47,090 93,768 170,524 319,224 608,192 1,217,628 2,797,810 6,980,947 33,300,000]

Total loans and securities.. $726,813 $63,905 $147,815 $299,874 $599,328 $1,193,352 $2,582,619 $5,796,127 $15,180,736 j $76,992,600

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Miscellaneous assets:

Banking house, furniture and fixtures....

Other real estate owned............................

Customers* liability on account of acceptances ................................ .....................

Borrowed securities...................................

Other assets...............................................

Total miscellaneous assets...............

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

LIABILITIES AND CAPITAL

Deposits:

Individuals, partnerships, and corporations:

Demand.................................................

Time.......................................................

States and their political subdivisions.. . .

United States Government.......................

Postal savings............................................

Other banks...................................................

Cash letters of credit, certified, officers’, and

travelers’ checks outstanding....................

Total deposits.........................................

Demand..................................................

Time.......................................................

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for borrowed money3.....................

Securities borrowed.......................................

Mortgage bonds and participation certificates

outstanding................................................

Acceptances outstanding executed by or for

the account of reporting banks.................

Dividends declared but not yet payable. . . .

Other liabilities..............................................

Total miscellaneous liabilities.............

Total liabilities (excluding capital 

account)............................................

Capital account:

Capital stock, notes, and debentures...........

Surplus...........................................................

Undivided profits—net.................................

Reserve for contingencies and undeclared

dividends....................................................

Retirement fund for preferred stock, capital

notes, and debentures...............................

Total capital account............................

Total liabilities and capital account..

$25,235

23,754

354

36

4,265

53,644

$992,988

$314,622

421,134

86,261

2,707

4,192

13,372

6,234

848,522

407,016

441,506

$2,074

36

516

3,342

6,684

$855,206

$79,985

34,359

14,531

7,405

1,502

137,782

$992,988

$3,317

2,380

1

2

313

6,013

$97,070

$41,705

19,012

8,937

44

285

707

288

70,978

50,445

20,583

$128

2

78

191

399

$71,377

$19,707

3,867

1,600

356

163

25,693

$97,070

$4,985

3,004

5

37

338

8,369

$211,063

$88,194

61,166

20,970

158

8 68

856

859

173,071

108,980

64,091

$329

37

30

114

349

859

$173,930

$25,919

6,677

3,264

870

403

37,133

$211,063

$8,602

5,256

20

43

616

14,537

$417,543

$162,873

147,123

41,000

400

2,672

1,576

2,075

357,719

203,410

154,309

$440

43

2 12

728

1,502

$359,221

$38,422

11,514

5,771

1,909

706

58,322

$417,543]

$17,229

1 2,8 88

47

7

1,596

31,767

$814,563

$282,426

326,963

75,492

932

5,680

4,441

4,611

700,545

859,347

841,198

696

20

336

1,987

4,045

$704,590

$68,515

23,932

11,522

4,732

1,272

109,973

$814,563

$40,700

31,118

46

115

3,383

75,362

$1,620,651

$97,000

85,297

735

‘ 11,605 

194,637

$3,447,938

$532,292

689,810

140,084

2,192

8,199

12,504

9,963

1,395,044

676,544

718,500

$1,031,626

1,576,074

249,443

7,504

11,003

41,682

24,469

2,941,801

1,292,915 1,648,886

$2,481

115

1,594

44

610

4,241

9,085

$4,218

2,960

689

1,249

9,846

18,962

$1,404,129

$131,055

50,354

22,439

9,625

3,049

216,522

$1,620,651

$2,960,763

$274,372

115,745

56,297

35,082

5,679

487,175

$3,447,938

$207,861

291,012

2,051

62,304

563,228

$7,894,671

$2,335,291

3,594,038

573,342

33,924

19,304

121,367

56,000

6,733,266

2,950,189

8,783,127

$5,861

734

1,291

3,392

51,127

62,405

$6,795,671

$608,228

314,747

114,937

52,784

8,304

1,099,000

$7,894,671

$699,790

875,017

35,386

248,877

1,859,070

$21,499,596

$6,017,368

8,936,193

2,125,211

128,667

66,807

734,544

134,175

18,142,965

8,594,825

9,548,140

$146,912

2,123

36,175

5,930

129,842

320,982

$18,463,947

$1,427,000

1,009,719

326,070

247,772

25,088

3,035,649

$21,499,596

$1,813,800

2,201,400

3,200

247,600

4,266,000

$97,446,000

$14,663,400

62.549.400 

6,785,800

624,000

’ ‘2,187,200

936,600

87.746.400

23,112,000

64.634.400

$21,800

3,200

17,600

260,200

302,800

$88,049,200

$3,966,400

3,421,400

1,215,000

711,800

82,200

9,396,800

$97,446,000

because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.

^Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in 

the District of Columbia; and 2 other State banks.

’Includes agreements to repurchase securities sold.

Back figures—See the following Annual Reports: 1936, p. 144; 1935, p. 178; 1934, p. 200.

ASSETS AND LIABILITIES OF OPEEATING BANKS 119

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Federal Reserve Bank of St. Louis
T a b le 121. PERCENTAGE DISTRIBUTION OP ASSETS AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS

o f t h e F e d e r a l R e s e r v e System , D e ce m b e r 31, 1937

BANKS GROUPED BY AMOUNT OP DEPOSITS

Banks with deposits of—

All

banks $100,000

and

under

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1,0 00,000

$1,000 ,00 0

to

$2 ,000 ,00 0

$2 ,0 00,000

to

$5,000,000

$5,000,000

to

$10 ,000 ,00 0

$10 ,000 ,00 0

to

$50,000,000

Over

$50,000,000

0 )

Number of banks2 .................................. 7,442 587 2,151 2,021 1,377 788 377 79 57 5

ASSETS (As percent of total assets)

Cash, balances with other banks, and cash 

items in process of collection:

Balances with banks.....................................

Cash items in process of collection...............

Total cash, balances with other banks, 

and cash items in process of col2.7

17.9

.8

21.4

3.7

24.1

.2

28.0

3.0

2 2 .8

.2

26.0

2.9

21.5

.3

24.7

2 .8

19.3

.4

22.5

2.9

18.2

.6

21.7

2 .8

15.8

.9

19.5

2.7

15.6

1 .2

19.5

2.5

16.9

1.3

20.7

1.6

13.3

1.7

16.6

Securities:

Obligations, direct, of the U. S. Government 

Obligations fully guaranteed by the U. S.

Obligations of States and their political

subdivisions................................................

Other securities.............................................

Total securities.......................................

13.4 

4.1

7.3

11.5 

36.3

6.3

2.7

5.7 

2 .6

17.3

8 .1

3.7

7.1

6 .6

25.5

9.4

4.2

8 .2 

9.3

31.1

10.1

4.4

8.0

11.9

34.4

11.3

4.2

7.7

12.9

36.1

14.4 

4.2

6.5

14.5

39.6

15.4

3.0

5.9

13.7

38.0

17.2 

3.6

6.1

1 1.2 

38.1

25.2

5.1

9.9

4.6

44.8

Loans, discounts, and overdrafts (including rediscounts):

Commercial paper bought in open market.. 

Notes, bills, acceptances, etc., payable in

foreign countries........................................

Acceptances of other banks payable in the

.8 .1 .4 .6 .8 .7 1 .2 .9 .8

.1

.1

.1 .1 .1

Loans to brokers and dealers in securities:

t_Vn.u /'■'sxT- .2 .2 .6 1.1

.1 .1 .1 .1 .3 .1

Agricultural loans (excluding loans on farm 

land) .................

3.2

11.5

3.9

6 .1

3.3

2 2 .6

6.8

4.7

15.5

6.4

6.3

1 0.0

5.5

8.5

6 .0

3.6

11.3

2 .8

1 .8

13.8

1 .0

1.2

13.5

.4

.6

11.7

.1

.4

26.0

Commercial and industrial loans..................

All other loans:

On securities..............................................

Otherwise secured and unsecured.............

3.6

4.2

9.5

3.4

.7

12.1

.1

3.4

1.1

12.5

.1

3.8

1.7

11.9

3.8

2 .6

11.9

.1

3.9

4.5

1 0 .6

.1

4.3

5.4 

7.7

3.8

5.8 

9.5

3.2

6 .8

8 .1

1.3

3,2

2 .1

Total loans, discounts, and overdrafts 37.0 48.5 44.5 40.8 39.2 37.6 35.3 35.4 32.5 34.2

Total loans and securities................. 73.3 65.8 70.0 71.9 73.6 | 73.7 74.9 73.4 70.6 79.0

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Miscellaneous assets:

Banking house, furniture and fixtures.........

Other real estate owned................................

Customers’ liability on account of acceptances ..........................................................

Borrowed securities.......................................

Other assets...................................................

Total miscellaneous assets...................

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

LIABILITIES AND CAPITAL 

Deposits:

Individuals, partnerships, and corporations:

Demand............................................

Time.................................................

States and their political subdivisions.

United States Government..................

Postal savings.......................................

Other banks.........................................

Cash letters of credit, certified, officers’, and

travelers’ checks outstanding...........

Total deposits................................

Demand.........................................

Time..............................................

Miscellaneous liabilities:

Bills payable, rediscounts, and other liabilities for borrowed money3.....................

Securities borrowed.......................................

Mortgage bonds and participation certificates

outstanding................................................

Acceptances outstanding executed by or for

the account of reporting banks.........

Dividends declared but not yet payable

Other liabilities......................................

Total miscellaneous liabilities....

Total liabilities 

account)..........

(excluding capital

Capital account:

Capital stock, notes, and debentures..

Surplus.................................................

Undivided profits—net........................

Reserve for contingencies and undeclared 

dividends..........................................

notes, and debentures... 

Total capital account.

Total liabilities and capital account..

2.5

2.4

3.4

2.5

2.4

1.4

2 .1

1 .2

2 .1

1 .6

2.5

1.9

2 .8

2.5

2 .6

3.7

3.2

4.1

.2

1.9

2 .2

.4

5.3

.3

6 .2

.2

4.0

.1

3.4

.2

3.9

.2

4.6

.3

5.6

.8

7.1

1 .2

8.7

.3

4.4

100.0 1 00 .0 1 00 .0 1 00 .0 1 00 .0 1 00 .0 1 00 .0 1 00 .0 1 00 .0 1 00.0

31.7 43.0 41.8 39.0 34.7 32.9 29.9 29.6 28.0 15.0 42.4 19.6 29.0 35.3 40.1 42.6 45.8 45.5 41.6 64.1 8.7 9.2 9.9 9.8 9.3 8 .6 7.2 7.3 9.9 7.0 .3 .1 .1 .1 .1 .2 .4 .6 .7 .4 .3 .4 .6 .7 .5 .3 .3 .3 1.4 .7 .4 .4 .5 .8 1 .2 1.5 3.4 2 .2

.6 .3 .4 .5 .6 .6 .7 .7 .6 1.0 85.5 73.1 82.0 85.7 8 6 .0 8 6.1 85.3 85.3 84.4 90.0

41.0 52.0 51.6 48.7 44-1 U .8 37.5 37.4 40.0 23.7 44-5 21.1 30.4 37.0 41.9 u .s ±7.8 47.9 44-4 66.3

.2 .1 .2 .1 .1 .2 .1 .1 .7

.1 .1 .1 .1

.2

.1 .1 .i .1

.3 .2 .1 .2 .2 .2 .3 .7 .6 .3

.6 .4 .4 .3 .5 .5 .6 .8 1.5 .3

86.1 73.5 82.4 8 6 .0 86.5 8 6 .6 85.9 8 6.1 85.9 90.3

8 .1 20.3 12.3 9.2 8.4 8 .1 7.9 7.7 6 .6 4.1 3.5 4.0 3.2 2 .8 2.9 3.1 3.4 4.0 4.7 3.5 1.4 1.6 1.5 1.4 1.4 1.4 1.6 1.4 1.6 1.3

.7 .4 .4 .4 .6 .6 1 .0 .7 1.1 .7

.2 .2 .2 .2 .2 .2 .2 .1 .1 .1 13.9 26.5 17.6 14.0 13.5 13.4 14.1 13.9 14.1 9.7

100.0 100 .0 1 100 .0 100 .0 1 1 00 .0 1 00 .0 1I 100 .0 1I 1 00 .0 1 1 00 .0 i 100.0

because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000

Excludes the following insured banks not members of the Federal Reserve System: 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in 

the District of Columbia; and 2 other State banks, 

includes agreements to repurchase securities sold.

Back figures—See the following Annual Reports: 1936, p. 146; 1935, p. 180; 1934, p. 202.

toASSETS AND LIABILITIES OF OPERATING BANKS

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122 FEDERAL DEPOSIT INSURANCE CORPORATION

CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE 

CORPORATION

Table 122. CAPITAL INVESTMENT OF THE RECONSTRUCTION FINANCE CORPORATION

in O p e ra tin g In su re d C om m ercial B an k s, D e ce m b e r 31,1937

BY CLASS OF BANK IN EACH STATE AND POSSESSION

(Amounts in thousands of dollars)

All b

Banks members F. R. System1 Banks not members F. R. 

SystemNational State

No. of 

banks Amount

No. of 

banks Amount

No. of 

banks Amount

No. of 

banks Amount

United States and

possession—total.. 4,865 547,923 1,622 261,697 316 114,976 2,927 171,250

State

Alabama.................... 48 9,773 12 5,994 4 2,968 32 811

Arizona...................... 3 1 348 2 1,323 1 25

Arkansas.................... 93 3,612 16 1,214 5 605 f 72 1,793

California................... 77 26.004 40 14,437 3 1,870 34 9,697

Colorado.................... 51 2 992 29 2,256 2 223 20 513

Connecticut.............. 37 6 078 15 3,272 22 2,806

Delaware.................. 10 317 4 130 6 187

District of Columbia.. 7 2,343 2 993 1 582 4 768

Florida....................... 39 1,625 12 882 2 215 25 528

Georgia...................... 67 3,134 14 1,083 5 592 48 1,459

Idaho......................... 22 1,782 8 926 3 631 11 225

Illinois........................ 167 44.897 108 40.927 11 1,755 48 2,215

Indiana...................... 234 11,278 38 3,523 9 1,514 187 6,241

Iowa........................... 118 6,430 39 3.439 5 946 74 2,045

Kansas....................... 169 4,122 40 1,781 4 109 125 2,232

Kentucky................... 99 6,587 25 2,290 4 1,355 70 2.942

Louisiana................... 85 8,142 13 3,511 4 1,853 68 2J78

Maine......................... 23 5,247 11 1,473 2 878 10 2,896

Maryland................... 61 7,368 11 2,1 2 1 4 1,965 46 3,282

Massachusetts............ 45 9,745 26 6,135 4 1,494 15 2,116

Michigan.................... 156 31,637 43 15,339 33 9,725 80 6,573

Minnesota.................. 190 8,6 8 6 66 6,440 1 22 123 2,224

Mississippi................. 136 7,725 15 2,268 121 5,457

Missouri..................... 171 7,377 22 2,371 19 2 ,2 2 0 130 2,786

Montana.................... 40 1,586 14 508 5 645 21 433

Nebraska.................... 119 4,224 43 2,942 2 69 74 1,213

Nevada............. 3 103 2 74 1 29

New Hampshire. 5 241 4 141 1 100

New Jersey................. 191 64,675 123 25,755 26 16,282 42 22,638

New Mexico............... 17 612 6 340 2 29 9 243

New York.................. 334 64,815 185 21,547 46 26,293 103 16,975

North Carolina.......... 111 5,973 17 1,116 3 1,650 91 3,207

North Dakota... . 99 2,337 22 1,204 77 1,133

Ohio.......................... 281 55,556 68 20,341 27 22,728 186 12,487

Oklahoma................... 36 3,206 30 3,148 1 8 5 50

Oregon........................ 34 1,057 7 176 3 39 24 842

Pennsylvania............. 251 37,536 171 14,457 15 8,718 65 14,361

Rhode Island.......... 4 729 3 480 1 249

South Carolina....... 32 2,009 5 1,336 27 673

South Dakota............. 91 3,004 22 2,089 4 154 65 761

Tennessee................... 110 11,165 24 7,037 2 215 84 3,913

Texas.......................... 318 20,935 126 15,699 18 383 174 4,853

Utah........................... 33 2,276 7 944 10 877 16 455

Vermont................... 40 7,313 8 428 32 6,885

Virginia...................... 116 7,052 28 1,699 2 1,823 86 3,530

Washington................ 69 3,064 16 1,930 7 442 46 692

West Virginia............. 76 4,223 29 1,943 4 383 43 1,897

Wisconsin................... 329 24,880 45 11,839 12 2,664 272 10,377

Wyoming................... 17 980 6 396 2 52 9 532

Possession

Virgin Islands............. 1 123 1 123

*Data concerning national and State banks members of the Federal Reserve System were obtained 

from the Report of the Reconstruction Finance Corporation for the Fourth Quarter of 1937.

Back figures—-See the following Annual Reports: 1936, p. 162; 1935, p. 196; 1934, p. 219.

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Federal Reserve Bank of St. Louis
CAPITAL INVESTMENT RECONSTRUCTION FINANCE CORPORATION 123

Table 123. DISBURSEMENTS AND RETIREMENTS OP RECONSTRUCTION FINANCE

C o r p o r a tio n C a p ita l op O p e ra tin g In su re d C om m ercial B an k s 

n o t M em bers op t h e F e d e r a l R e s e r v e System D u r in g 1937

in each state an d possession

United States and possession—total.................

State

Alabama............................

Arizona.............................

Arkansas...........................

California..........................

Colorado...........................

Connecticut.......................

Delaware...........................

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

Florida..............................

Georgia..............................

Idaho.................................

Illinois...............................

Indiana.............................

Iowa..................................

Kansas...............................

Kentucky..........................

Louisiana..........................

Maine................................

Maryland..........................

Massachusetts...................

Michigan...........................

Minnesota.........................

Mississippi........................

Missouri............................

Montana...........................

Nebraska...........................

Nevada.............................

New Hampshire................

New Jersey........................

New Mexico......................

New York.........................

North Carolina.................

North Dakota...................

Ohio...................................

Oklahoma..........................

Oregon...............................

Pennsylvania.....................

Rhode Island....................

South Carolina..................

South Dakota....................

Tennessee..........................

Texas.................................

Utah..................................

Vermont............................

Virginia.............................

Washington.......................

West Virginia....................

Wisconsin..........................

Wyoming...........................

Possession 

Virgin Islands....................

R. F. C. 

capital 

outstanding 

Dec. 31,19361

$192,491,481

1,020,965

24,967

1,970,240

1 1 ,2 1 1 ,2 0 0

575.000

2,904,168

209.000 

1,444,700

546,365

1.618.500

230.000

3.110.550

7.450.000 

2,295,600 

2,533,222

3,105,900

3.476.000 

2,919,619 

3,497,200

2.575.000

7,400,780

2,582,300

5,687,400

3,289,450

585.000

1,513,058

30.000

100 .00 0 

23,022,192

247.500

21.599.500 

3,496,750

1.224.000 

14,032,000

50.000

931.000 

14,954,067

250.000 

712,300

882.500

4.001.550

5.733.500

470.000

7.110.000 

4,102,938

1.067.500

2.166.000

11.859.500

548.500

124,000

Disbursements3

$209,250

74,250

‘ 2 5 ,6 6 0

35,000

1 0,0 00

1 0,0 00

1 0,0 00

45,000

Retirements2

$16,342,065

209,714

4

162,373

1,514,008

36,900

98,057

2 2 ,0 0 0

32,000

18,310

129.450

4,850

728.450 

521,775 

200,415 

278,980

14,205

418,885

23,342

164,738

358,840

708,020

358,400

230,614

212,193

117,300

290,304

1,0 0 0

284,076

14,175

4,489,850

289,265

31.800 

1,134,600

125

27.300 

392,599

1,250

39,600

47.800

63,875

405,945

15,000

224,550

408,018

285,585

201,175

1,112,800

16.300

1,250

Other

deductions3

$5,108,287

15,000

‘ 2 5 ,6 0 6

644,700

” 30,666

167,500

761,925

50,000

47,500

150,000

278,750

50,000

1 00 ,00 0

119,800

326,107

35,000

9,705

1 00 ,00 0

135,000

69,500

409,900

62,200

2 0 0 ,0 0 0

73,500

25,000

485,000

165.000

89,200

113.000

370.000

R. F. C. 

capital 

outstanding 

|Dec. 81, 1937

$171,250,379

811,251

24,963

1,792,867

9,697,192

513,100

2,806,111

187.000

768.000 

528,055

1,459,050

225,150

2,214,600

6,240,550

2,045,185

2,231,742

2,941,695

2,778,365

2,896,277

3,282,462

2,116,160

6,572,960

2,223,900

5,456,786

2,786,150

432.700

1,213,049

29,000

1 00 .00 0 

22,638,116

243,325

16,974,650

3,207,485

1,132,700

12,487,500

49,875

841,500

14,361,468

248,750

672.700

761.200

3,912,675

4,852,555

455,000

6,885,450

3,529,920

692,715

1,896,825

10,376,700

532.200

122,750

VRevised.

3Excludes changes due to conversion of preferred stock loans to capital notes and debentures. 

*Due to changes in charter jurisdiction, insured status, etc.

Back figures—See the following Annual Reports: 1936, p. 163; 1935, p. 197.

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Federal Reserve Bank of St. Louis
Table 124. CAPITAL RATIOS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE 

System , E xam in ation s O c t o b e r 1, 1933, t o D e ce m b e r 31, 1937

EXAMINERS’ ANALYSIS OF INSURED BANKS

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

Net capital account as percent of—

Appraised value of assets Total deposits Total capital account

»1933 1934 1935 1936 1937 >1933 1934 1935 1936 1937 U933 1934 1935 1936 1937

United States—total.......... 9.6 13.5 14.0 14.4 13.1 1 1.2 15.8 16.6 17.1 15.3 45.1 67.2 76.5 90.9 92.3

Banks with deposits of- 2

$1 0 0 ,0 0 0 and under........... 2 2 .8 25.2 24.7 23.8 23.5 31.8 34.5 33.5 31.6 31.3 69.0 80.6 83.8 85.8 87.5

$100,000 to $250,000......... 14.0 18.2 17.7 17.3 16.7 17.2 22.5 21.9 2 1 .2 20.3 60.1 81.1 87.5 92.7 91.8

$250,000 to $500,000......... 10.4 15.1 15.1 14.5 13.5 12.2 17.9 17.9 17.1 15.7 52.1 77.3 86.4 95.2 94.7

$500,000 to $1,000,000___ 8.4 13.4 13.7 14.1 13.1 9.8 15.9 16.0 16.6 15.2 40.7 68.9 82.8 94.5 93.2

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ... 7.9 13.1 13.9 14.0 12.6 9.2 15.4 16.4 16.6 14.6 37.7 67.3 77.2 90.6 90.5

$2,000,000 to $5,000,000... 9.3 12.7 13.1 14.1 12.8 10.6 14.8 15.4 16.6 14.8 42.3 62.7 71.8 89.3 90.6

$5,000,000 to $10,000,000.. 

$10,000,000 to $50,000,000. [ 1 0 .0 13.0 13.5 J 14.2 

1 14.1

13.6

12.6 [ 11.5 15.1 16.1 J 17.3 

i 16.9

16.2

14.9 [■ 44.0 61.5 69.4 J 87.5 86.8

94.1

Over $50,000,000*.............. 2 .6 6 .2 1 0.2 12.6 10.7 2 .6 6 .6 11.5 14.6 1 2.2 19.6 43.9 6 6 .2 97.1 101.5

State

Alabama 99.3 100.2 ............................. 18.4 21.5 19.6 18.8 17.6 23.9 28.1 25.3 23.5 21.5 61.2 84.9 90.6

Arizona............................... (4) (4) 1 0.8 10.6 8.7 (4) (4) 12.1 11.9 9.6 (4) (4) 108.0 112.4 108.4

Arkansas............................ 14.5 18.8 17.2 15.4 14.4 18.2 23.5 20.9 18.4 16.8 59.7 83.0 85.3 89.2 89.9

California........................... 5.5 9.7 12.7 14.0 12.6 5.9 10.7 14.7 16.5 14.5 45.8 80.7 92.6 107.7 113.6

Colorado............................ 4.7 11.4 10.9 10.3 8.5 5.1 1 2.8 1 2.2 11.5 9.3 2 2 .6 72.4 78.7 88.4 87.7

Connecticut........................ 9.3 12.7 1 2 .6 1 2 .8 13.5 10.7 14.8 14.6 15.7 15.7 50.7 69.9 77.2 89.1 90.0

Delaware............................ 12.3 16.8 16.4 18.5 16.3 14.3 19.8 19.8 23.2 19.6 60.8 77.9 87.4 100.3 90.5

District of Columbia......... (4) (4) (4) (4) (5) (4) (4) (4) (4) (5) (4) (4) (4) (4) (5)

Florida............................... 16.9 15.9 15.5 14.4 13.3 2 1 .0 19.0 18.5 16.9 15.3 71.9 88.7 96.5 102.5 100.3

Georgia............................... 18.1 2 0 .8 19.0 17.9 17.6 24.0 28.0 24.9 2 2 .1 21.7 6 8 .2 86.5 90.5 98.2 99.5

Idaho.................................. 1 2 .6 12.4 11.9 11.6 11.4 14.7 14.0 13.6 13.1 12.9 62.0 85.2 92.5 101.1 101.6

Illinois................................ 14.8 16.0 15.3 14.0 12.3 18.1 19.0 18.2 16.3 14.1 56.5 8 8 .1 95.9 102 .1 99.9

Indiana............................... 5.7 1 1 .6 11.5 11.7 11.3 6.5 13.3 13.5 13.6 1 2.8 29.2 64.8 75.5 85.9 88.6

Iowa................................... 10.9 1 2.1 1 1.0 10.6 10.0 12.7 13.7 12.4 11.9 1 1.2 69.4 8 8 .8 95.1 103.8 98.9

Kansas............................... 11.3 1 2 .6 12.7 12.6 12.1 12.8 14.4 14.6 14.4 13.9 60.9 79.2 90.7 97.0 96.3

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Kentucky.........

Louisiana.........

Maine..............

Maryland.........

Massachusetts.

Michigan.. 

Minnesota.

Missouri. 

Montana.

Nebraska.............

Nevada4...............

New Hampshire4.

New Jersey..........

New Mexico........

New York........

North Carolina. 

North Dakota..

Ohio.................

Oklahoma........

13.1

1 1 .2 

1 .2

1 2 .1

7.6

1.4

9.5 

8 .1

10.3

1 2 .2

1 1.6

16.2

19.1 

3.2

14.9 

1 1.6

9.8

11.9 

14.7

13.2

15.1

14.2

15.0

18.0

10.5

14.7

12.5

9.9

11.9

14.2

1 1.8

14.7

13.8

15.2 

16.5

12.4 

16.0

14.0

11.4

1 2.2

13.1

1 1.2 

13.3

14.0

14.0

14.8

13.2

14.6

12.9

1 0 .2

10.9 

12.5

10.9

13.0

13.7

16.2

14.0

1.3

14.4 

8.7

1.5

10.5

9.4

1 1.6

14.1

13.2

19.6

24.2 

3.3

17.8

13.2

1 1 .0

13.4

17.7

15.4

17.8

16.4

17.8 

2 2 .2 

11.7 

17.6

14.5

11.5

13.6

16.9

13.6 

17.2

16.1

18.1

19.9

14.2

19.4

16.4

13.3

13.9

15.2 

1 2 .8

15.4

16.3

16.5

17.5

15.4

17.2 

14.9

1 1.8

1 2 .2

14.4 

12.3

15.0

16.0

57.4

48.2 

7.6

56.0

41.4

7.9

6 6 .1

51.2 

51.6

51.5

53.2

80.7

79.1

2 1 .8 

70.4

62.2

58.3

87.8

83.7

81.8 

81.0

89.0

83.8

89.5 

45.1 

78.7

70.6

67.7

96.0

92.9

85.1 

89.0

95.6

93.2

1 00.6

59.9

97.5

85.5

90.0 

105.4 

101.1

89.7

99.1

101.6

93.1

104.9

67.4 

100.3

85.5

96.8 

101 .8 

101.1

92.8 

97.7

98.3

Oregon.............

Pennsylvania... 

Rhode Island4.. 

South Carolina. 

South Dakota..

Tennessee.

Texas........

Utah.........

Vermont... 

Virginia. . .

Washington.. . 

West Virginia.

Wisconsin.......

Wyoming........

5.4

.9

8.7 

1 1 .6

6.7 

7.3

9.7

7.0

17.0

5.1

9.2

14.8

14.8

10.9

15.2 

11.6

13.2 

18.0

7.9

8.8

14.9

15.6

13.6

14.9

11.7

1 1.0

18.8

10.7 

8 .6

15.4 

13.9

14.5

14.8

11.6

1 1.8 

20.3

9.9

8.7

13.3

13.8

13.8

13.3

11.3

10.5

17.6

6 .0

.9

9.9

13.9

7.7 

8.3

1 0.8

7.7 

2 2 .1

5.7

1 0.2

17.7

17.9

12.3

18.0

13.2

15.1

23.2

8 .8

9.7

18.2

19.2 

15.9 

17.7

13.3

12.3 

24.1

12.3 

9.4

18.9 

16.7

16.9

17.4 

13.2

13.5 

26.1

11.3

9.5

16.1

16.5 

16.1

15.5 

1 2 .8

11.7

2 1 .6

19.0

5.8

37.6

64.5

27.6 

41.4 

62.8

45.9

55.7

22.3

75.8

61.5

88.9

37.9

74.3

85.3

64.5

35.9

87.3

68.4

99.4

53.5

80.7

94.5

93.0

72.7

62.3

95.7

84.0 

107.0

6 6 .6

93.8 

99.2

105.6

93.0

7.5

1 0 .2

13.0

14.1

8.3 

13.6 

13.9

14.0

9.3

5.4 

7.9

9.9

12.9

12.6

18.8

13.9

10.4

16.7

17.1

13.5

11.8

12.1

1 0.8

15.7

11.7

18.4

14.5

15.5

15.7

15.3

13.8 

13.0

11.3

11.1

14.7

13.1 

16.5 

14.9

18.1

14.8

14.3

14.3

14.3

11.9

9.8

14.0

13.6

15.8

15.6 

18.4

13.9

1 2.6

14.0 

12.6 

11.2

8.4

12.1

16.5

16.6 

9.3

13.6

17.7

17.0

11.5

6 .1

8 .8

1 1.0

15.0

14.7

23.4

16.3

1 2.0 

2 0 .6

20.3 

15.9

13.6

13.7

1 2 .2

18.6

13.4

2 2 .8

17.2 

18.6

19.8

18.2 

16.2 

15.1

12.8

12.5

17.2

15.4 

19.9

17.6

2 2 .2

18.5

16.8

16.8

16.7

13.6

10.9

16.4

16.0

18.8

18.5

22.7

16.8

14.6

16.4

14.4

1 2.6

50.6

46.1

66.4

68.5

38.7 

104.1

61.3

66.3

40.6 

31.5

41.2

8 8 .0

57.0

6 6 .2

80.2

75.7

35.8

76.1

8 8 .1

56.0

60.1 

6 8.1

91.4

75.2

70.8

83.6

96.3

46.3

80.8

95.7

63.5 

76.9 

79.2

97.5

79.4

8 6.1

90.9

102.7

59.6

85.8

107.8

70.8

95.4

87.7

64.4

99.4

90.0

104.4

74.8

94.5 

98.3

99.8

91.5

96.9

81.2

84.8

95.6 

107.6

72.7 

85.2

104.3

75.1

91.2 

91.6

Examination for admission to insurance in 1933 and 1934.

*For 1933, 1936, and 1937, deposits are as of date of examination; for 1934 and 1935, deposits are as of December 31.

•Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. 

♦Figures are included in deposit groups and in total.

6Not compiled.

to

Cl ex am in er s’ analysis of insured banks

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
BANKS GROUPED BY AMOUNT OP DEPOSITS AND BY STATE

T a b le 125. EXAMINERS' ANALYSIS OP CAPITAL AND LIABILITIES OP OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OP THE

F e d e ra l R eserv e System, L atest Exam ination in 1937

to

o

Capital account Liabilities (exclusive of capital 

account)

of

banks1 Total R.F.C.

capital

Private

capital

Net 

deductions 

or additions

Net

capital

account

Net

private

capital

account

Total Deposits Other

liabilities

United States—total................. .... 7,293 999,547 156,457 843,090

(In th< 

77,434

Dusands of d 

922,113

lollars)

765,656 6,105,811 6,016,839 88,972

Banks with deposits of—

$1 0 0 ,0 0 0 and under.................................................... 564 14,270 2,133 12,137 1,781 12,489 10,356 40,608 39,901 707

$100,000 to $250,000.................................................. 2 ,1 1 0 79,922 10,824 69,098 6,527 73,395 62,571 365,364 361,755 3,609

$250,000 to $500,000.................................................. 2,065 122,425

153,210

17,545 104,880 6,457 115,968 98,423 742,604 737,784 4,820

$500,000 to $1,000,000............................................... 1,335 24,389 128,821 10,471 142,739 118,350 950,214 941,020 9,194

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ............................................ 734 165,962 28,738 137,224 15,757 150,205 121,467 1,040,445 1,031,507 8,938

$2,000,000 to $5,000,000............................................ 350 169,559 26,783 142,776 15,952 153,607 126,824 1,043,660 1,034,666 8,994

$5,000,000 to $10,000,000.......................................... 77 94,727 16,541 78,186 12,498 82,229 65,688 521,094 508,685 12,409

$10,000,000 to $50,000,000........................................ 53 148,313 16,341 131,972 8,760 139,553 123,212 969,482 935,320 34,162

Over $50,000,000........................................................ 5 51,159

9,151

13,163 37,996 769 51,928 38,765 432,340 426,201 6,139

State

Alabama...................................................................... 124 902 8,249 16 9,167 8,265 43,032 42,540 492

Arizona........................................................................ 5 1,634 25 1,609 137 1,771 1,746 18,702 18,457 245

Arkansas..................................................................... 154 9,168 1 ,8 8 8 7,280 922 8,246 6,358 49,116 48,951 165

California.................................................................... 89 53,948

3,011

9,823

541

44,125 7,889 61,287 51,464 425,400 422,284 3,116

Colorado...................................................................... 50 2,470 370 2,641 2 ,1 0 0 28,512 28,475 37

Connecticut................................................................. 37 16,218

9,885

2,794 13,424 1,617 14,601 11,807 93,340 92,800 540

Delaware..................................................................... 24 197 9,688 938 8,947 8,750 45,969 45,724 245

Florida........................................................................ 97 9,041 536 8,505 80 9,071 8,535 59,252 59,172 80

Georgia........................................................................ 183 15,331 1,466 13,865 75 15,256 13,790 71,998 70,171 1,827

Idaho........................................................................... 20 1,215 

41,484

230 985 20 1,235 1,005 9,557 9,555 2

Illinois......................................................................... 419 2 ,2 0 1 39,283 61 41,423 39,222 295,170 293,550 1,620

Indiana........................................................................ 341 43,772 6 ,2 1 0 37.562 5,010 38,762 32,552 305,618 302,219 3,399

Iowa............................................................................ 412 25,886

13,718

1,608 24,278 278 25,608 24,000 229,757 229,436 321

Kansas........................................................................ 254 2,274 11,444 510 13,208 10,934 95,458 95,280 178

Kentucky.................................................................... 268 25,801

14.252 

7,884

18.252 

19,309

2,883 22,918 1,778 24,023 21,140 147,603 145,972 1,631

Louisiana..................................................................... 107 2,850 11,402 699 14,951 1 2 ,1 0 1 85,754 85,410 344

Maine.......................................................................... 17 2,761 5,123 2,573 5,311 2,550 34,811 34,439 372

Maryland.................................................................... 97 3,088 15,164 63 18,315 15,227 107,260 106,301 959

Massachusetts............................................................. 38 2,400 16,909 2,797 16,512 14,112 111,292 110,831 461

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Michigan.....................................................................

Minnesota...................................................................

Mississippi..................................................................

Missouri......................................................................

Montana.....................................................................

Nebraska....................................................................

235

439

168

464

48

224

2

3

26,730 

21,174 

16,622 

28,080 

2,798

9,295

6,825

2,425

5,549

2,919

469

1,403

19,905 

18,749 

11,073 

25,161 

2,329

7,892

866 

887

187

2,023 

63

154

25,864 

21,561 

16,809 

26,057 

2,735

9,141

19,039

19,136

11,260

23,138

2,266

7,738

227,032

176,815

117,805

213,926

18,303

57,360

218,282

176,384

117,080

211,159

18,254

57,258

8,750

431

725

2,767

49

102

New Jersey.................................................................

New Mexico...............................................................

93 58,395 13,494 44,901 20,781 37,614 24,120 341,206 334,282 6,924

14 970 243 727 6 964 721 10,106 10,104 2

New York................................................................... 178 113,426 17,769 95,657 11,288 102,138 84,369 664,967 634,037 30,930

North Carolina........................................................... 174 22,958 3,272 19,686 1,004 23,962 20,690 150,169 145,054 5,115

North Dakota............................................................. 116 4,324 1 ,1 1 1 3,213 1,091 3,233 2 ,1 2 2 20,132 20,076 56

362 54,544 12,893 41,651 2,993 51,551 38,658 335,210 332,687 2,523

Oklahoma................................................................... 163 5,898 50 5,848 102 5,796 5,746 45,243 45,165 78

40 3,537 845 2,692 6 3,531 2 ,6 8 6 30,157 30,106 51

Pennsylvania..............................................................

Rhode Island3.............................................................

290

2

133,063 7,061 126,002 11,326 121,737 114,676 569,143 562,546 6,597

South Carolina........................................................... 86 5,737 707 5,030 179 5,558 4,851 51,137 50,910 227

South Dakota............................................................. 111 4,541 777 3,764 854 3,687 2,910 22,573 22,516 57

Tennessee.................................................................... 218 16,046 3,381 12,665 2,446 13,600 10,219 85,947 85,040 907

284 22,417 5,171 17,246 981 21,436 16,265 114,179 113,811 368

27 4,499 462 4,037 842 4,841 4,379 26,196 26,099 97

Vermont...................................................................... 33 16,474 6,942 9,532 4,504 11,970 5,028 52,956 52,632 324

160 23,325 3,802 19,523 3,461 19,864 16,062 122,547 118,063 4,484

Washington.................................................................

West Virginia.............................................................

Wisconsin....................................................................

82 4,196 754 3,442 181 4,377 3,623 30,223 30,055 168

74 13,043 2 ,0 1 1 11,032 3,248 9,795 7,784 60,067 59,866 201

444 43,691 10,529 33,162 3,827 39,864 29,335 276,743 275,920 823

Wyoming.................................................................... 23 1,740 538 1 ,2 0 2 146 1,594 1,056 12,659 12,627 32

irThe number of banks examined during the year does not agree with the number of banks at the close of the year.

*Not compiled.

’Figures are included in deposit groups and in total.

NOTE: Italics indicate net addition to capital account*

Back figures—See the following Annual Reports: 1936, p. 148; 1935, p. 182.

exam in ees' analysis op insured banks

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 126. E x a m in ers’ A n a ly sis OP ASS3TS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE £2

F e d e r a l R e s e r v e System, L a t e s t E xa m in a tion in 1937

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

Total assets Securities

Number

of

banks1 Book

Estimated 

net loss

Appraised value Cash and 

due from 

banks Book

Estimated 

net loss

Appraised value

value and

doubtful2 Total

Fixed 

and substandard

Not

criticized

value and

doubtful2 Total Substandard

Not

criticized

United States—total............ 7,293 7,105,358 75,358 7,030,000 1,109,856

(In thousan 

5,920,144

ds of dollars 

1,510,979

)

2,584,211 25,157 2,609,368 329,495 2,279,873

Banks with deposits of—

$100 ,00 0 and under............. 564 54,878 1,737 53,141 9,766 43,375 15,585 8,687 85 8,772 1,566 7,206

$100,000 to $250,000........... 2 ,1 1 0 ' 445,286 6,447 438,839 66,570 372,269 121,352 113,340 592 113,932 17,956 95,976

$250,000 to $500,000........... 2,065 865,029 6,947 858,082 118,916 739,166 223,785 270,405 2,206 272,611 38,366 234,245

$500,000 to $1,000,000........ 1,335 1,103,424 10,642 1,092,782 163,756 929,026 258,787 381,657 i> m 383,081 53,910 329,171

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .... 734 1,206,407 15,427 1,190,980 189,653 1,001,327 262,991 445,232 1,276 446,508 60,531 385,977

$2,000,000 to $5,000,000.... 350 1,213,219 15,691 1,197,528 204,767 992,761 241,632 478,526 1,87 U 479,900 59,251 420,649

$5,000,000 to $10,000,000... 77 615,821 11,998 603,823 114,745 489,078 114,256 226,066 1,U80 227,546 33,546 194,000

$10,000,000 to $50,000,000. . 53 1,117,795 7,244 1,110,551 188,951 921,600 209,810 441,469 10,1>62 451,931 55,302 396,629

Over $50,000,000................. 5 483,499 775 484,274 52,732 431,542 62,781 218,829 6,258 225,087 9,067 216,020

State

Alabama............................... 124 52,183 26 52,209 6,549 45,660 15,631 10,161 212 10,373 2 ,0 1 2 8,361

Arizona................................. 5 20,336 1S2 20,468 1,900 18,568 7,787 6,673 159 6,832 515 6,317 Arkansas.............................. 154 58,284 891 57,393 8,482 48,911 23,038 13,440 99 13,539 3,216 10,323 California............................. 89 479,348 7,SU0 486,688 57,153 429,535 52,258 202,065 8M7 210,512 5,559 204,953

Colorado............................... 50 31,523 362 31,161 3,178 27,983 11,965 8 ,2 2 1 65 8,286 1,019 7,267

Connecticut.......................... 37 109,558 1,601 107,957 29,164 78,793 22,562 31,559 807 32,366 4,698 27,668 Delaware.............................. 24 55,854 1,027 54,827 10,406 44,421 7,554 24,839 418 24,421 4,129 20,292 District of Columbia3...........

Florida................................. 97 68,293 5U 68,347 10,266 58,081 21,806 25,061 8U 25,405 5,435 19,970

Georgia................................. 183 87,329 474 86,855 15,235 71,620 24,216 16,928 71 16,999 3,593 13,406

Idaho.................................... 20 10,772 20 10,792 562 10,230 3,469 3,696 us 3,739 158 3,581

Illinois.................................. 419 336,654 32 336,622 42,548 294,074 91,392 137,894 2,126 140,020 11,300 128,720

Indiana................................. 341 349,390 4,949 344,441 50,284 294,157 8 6,2 12 129,940 561 130,501 11,852 118,649

Iowa..................................... 412 255,643 272 255,371 27,962 227,409 63,778 79,381 U52 79,833 7,420 72,413

Kansas................................. 254 109,176 463 108,713 7,752 100,961 33,341 30,344 717 31,061 1,028 30,033

FEDERAL DEPOSIT INSURANCE CORPORATION

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Kentucky............................. 268 173,404 1,715 171,689 26,055 145,634 39,628 54,679 298 54,977 7,254 47,723

Louisiana.............................. 107 100,006 704 100,710 15,074 85,636 35,224 28,538 714 29,252 5,300 23,952

Maine................................... 17 42,695 2,573 40,122 10,284 29,838 6,204 15,738 448 15,290 3,798 11,492

Maryland.............................. 97 125,512 lh% 125,654 23.231 102,423 20,371 52,526 2,305 54,831 10,323 44,508

Massachusetts...................... 38 130,601 2,795 127,806 17,882 109,924 19,302 47,335 1,192 46,143 6,142 40,001

Michigan.............................. 235 253,762 840 252,922 18,799 234,123 56,434 109,199 171 109,370 4,697 104,673

Minnesota............................ 439 197,989 m 198,410 22,086 176,324 40,606 79,925 1,378 81,303 10,119 71,184

Mississippi............................ 168 134,427 202 134,629 23,960 110,669 42,392 46,891 1,069 47,960 12,376 35,584

Missouri................................ 464 242,006 1,999 240,007 30,631 209,376 62,612 71,346 953 72,299 7,592 64,707

Montana.............................. 48 2 1,1 01 56 21,045 2,042 19,003 5,916 7,796 102 7,898 588 7,310

Nebraska.............................. 224 66,655 137 66,518 5,466 61,052 22,525 16,727 322 17,049 888 16,161

Nevada4 ................................ 2

New Hampshire4.................. 3

New Jersey.......................... 93 399,601 20,310 379,291 92,486 286,805 64,598 156,474 2,053 154,421 26,397 128,024

New Mexico......................... 14 11,076 5 11,071 631 10,440 4,635 2,646 47 2,693 108 2,585

New York............................ 178 778,393 10,291 768,102 122,267 645,835 128,408 288,814 4,932 293,746 38,663 255,083

North Carolina.................... 174 173,127 1,0 24 174,151 25,138 149,013 49,934 59,746 1,885 61,631 14,966 46,665

North Dakota...................... 116 24,456 1,047 23,409 4,613 18,796 6,314 8,069 64 8,133 1,268 6,865

Ohio...................................... 362 389,754 2,782 386,972 56,123 330,849 74,262 146,512 578 147,090 12,430 134,660

Oklahoma............................. 163 51,141 74 51,067 2,789 48,278 19,873 14,269 280 14,549 813 13,736

Oregon.................................. 40 33,694 7 33,687 3,561 30,126 7,396 11,585 181 11,766 300 11,466

Pennsylvania........................ 290 702,206 11,157 691,049 165,893 525,156 105,373 306,647 779 307,426 59,024 248,402

Rhode Island4...................... 2

South Carolina..................... 86 56,874 170 56,704 4,019 52,685 19,620 17,519 160 17,679 1,826 15,853

South Dakota...................... 111 27,114 836 26,278 4,730 21,548 6,733 7,719 20 7,699 1,530 6,169

Tennessee............................. 218 101,993 2,302 99,691 21.796 77,895 25,455 22,118 207 22,325 5,091 17,234

Texas.................................... 284 136,596 1,336 135,260 17.538 117,722 46,856 33,929 180 34.109 4,458 29,651

Utah..................................... 27 30,695 s u 31,039 2,134 28,905 7,307 9,345 462 9,807 461 9,3*6

Vermont........................ ... 33 69,430 4,452 64,978 23,625 41,353 5,598 24,581 628 23,953 4,065 19,888

Virginia................................ 160 145,872 3,424 142,448 26,185 116,263 28,548 31,490 112 31,602 4,409 27,193

Washington.......................... 82 34,419 193 34.612 3,347 31,265 9,628 11,793 232 12.025 1,555 10,470

West Virginia....................... 74 73,110 3,185 69,925 12,822 57.103 17.974 19,288 304 18,984 2,215 16,769

Wisconsin............................. 444 320,434 3,720 316,714 47.474 Ii 269,240 59,706 147,497 1,109 146.388 17,119 129,269

Wyoming.............................. 23 14.399 111 14,288 2,245 ! 12,043 4,895 3.264 ! 77 j 3,341 285 3,056

EXAMINERS' ANALYSIS OF INSURED BANKS

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Federal Reserve Bank of St. Louis
Table 126. EXAMINERS’ ANALYSIS OP ASSETS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE 

F e d e r a l R e s e r v e System , L a te s t E xa m in a tion in 1937—Continued

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

CO

o

Loans, discounts, and overdrafts Miscellaneous assets

Number

of

banks1 Book

Estimated 

net loss

Appraised value

Book

Estimated 

net loss

Appraised value

value and

doubtful2 Total |

1

i Sub- 

| standard |

Not 

1 criticized

value and

doubtful2 Total

Fixed 

and substandard

Not

criticized

inited States—total............ 7,293 2,577,550 65,526 2,512,024 421,677

(In thousand 

2,090,347

Is of dollars) 

432,618 34,989 397,629 358,684 38,945

Banks with deposits of—

$1 0 0 ,0 0 0 and under............. 564 26,993 1,284 25,709 5,299 20,410 3,613 538 3,075 2,901 174

$100,000 to $250,000........... 2 ,1 1 0

2,065

189,718 4,969 184,749 31,542 153,207 20,876 2,070 18,806 17,072 1,734

$250,000 to $500,000........... 336,628 6,698 329,930 50,712 279,218 34,211 2,455 31,756 29,838 1,918

$500,000 to $1,000,000........

$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....

1,335

734

350

410,734

432,511

415,411

8,664

10,901

11,982

402,070

421,610

403,429

65,939

73,062

78,665

336,131

348,548

324,764

52,246

65,673

77,650

3,402

5,802

5,083

48,844

59,871

72,567

43,907

56,060

66,851

4,937

3,811

5,716

$5,000>000 to $10,000,000... 

$10,000,000 to $50,000,000. . 

Over $50,000,000 ...............

77

53

6

220,958

370,387

174,210

8,150

11,292

1,586

212,808

359,095

172,624

37,264

55,656

23,538

175,544

303,439

149,086

54,541

96,129

27,679

5,328

6,414

3,897

49,213

89,715

23,782

43,935

77,993

20,127

5,278

11,722

3,655

State

Alabama............................... 124 23,498 153 23,345 1,959 21,386 2,893 33 2,860 2,578 282

Arizona............................... 5 4,901 31 4,870 638 4,232 975 u 979 747 232

Arkansas............................... 154 19,384 847 18,537 3,479 15,058 2,422 143 2,279 1,787 492

California.............................. 89 200,720 414 200,306 29,265 171,041 24,305 693 23,612 22,329 1,283

Colorado............................... 50 10,388 340 10,048 1,415 8,633 949 87 862 744 118

Connecticut.......................... 37 46,955 1,853 45,102 16,852 28,250 8,482 555 7,927 7,614 313

Delaware.............................. 24 20,755 390 20,365 3,995 16,370 2,706 219 2,487 2,282 205

Florida.................................. 97 18,113 244 17,869 1,947 15,922 3,313 46 3,267 2,884 383

Georgia................................. 183 39,476

3,329

365 39,111 5,520 33,591 6,709 180 6,529 6 ,1 2 2 407

Idaho.................................... 20 15 3,314 158 3,156 278 8 270 246 24

Illinois.................................. 419 92,067 1,687 90,380 17,370 73,010 15,301 471 14,830 13,878 952

Indiana................................. 341 111,859 3,150 108,709 21,676 87,033 21,379 2,360 19,019 16,756 2,263

Iowa...................................... 412 106,868 682 106,186 15,103 91,083 5,616 42 5,574 5,439 135

Kansas.................................. 254 41,674 750 40,924 3,819 37,105 3,817 430 3,387 2,905 482

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.............................. 268 71,948 1,589 70,359 13,508 56,851 7,149 424 6,725 5,293 1,432

Louisiana.............................. 107 30,842 158 30,684 4,681 26,003 5,402 1U8 5,550 5.093 457

Maine................................... 17 17,956 1,6 8 8 16,268 4,158 1 2,1 10 2,797 437 2,360 2,328 32

Maryland.............................. 97 46,237 1,435 44,802 7,936 36,866 6,378 728 5,650 4,972 678

Massachusetts...................... 38 55,335 887 54,448 4,356 50,092 8,629 716 7,913 7,384 529

Michigan.............................. 235 78,811 390 78,421 5,728 72,693 9,318 621 8,697 8,374 323

Minnesota............................ 439 71,805 783 71,022 7,444 63,578 5,653 174 5,479 4,523 956

Mississippi............................ 168 39,089 537 38,552 6,755 31,797 6,055 330 5,725 4,829 896

Missouri................................ 464 98,625 2,400 96,225 15,806 80,419 9,423 552 8,871 7,233 1,638

Montana............................... 48 6,625 177 6,448 781 5,667 764 19 783 673 110

Nebraska.............................. 224 25,565 343 25,222 3,041 22,181 1,838 116 1,722 1,537 185

2

3

New Jersey........................... 93 127,518 9,686 117,832 27,545 90,287 51,011 8,571 42,440 38,544 3,896

New Mexico......................... 14 3,537 39 3,498 319 3,179 258 13 245 204 41

New York............................. 178 301,946 10,985 290,961 37,262 253,699 59,225 4,238 54,987 46,342 8,645

North Carolina.................... 174 57,735 835 56,900 5,911 50,989 5,712 26 5,686 4,261 1,425

North Dakota...................... 116 8,357 890 7,467 2*066 5,401 1,716 221 1,495 1,279 216

Ohio...................................... 362 150,467 2,553 147,914 26,549 121,365 18,513 807 17,706 17,144 562

Oklahoma............................. 163 16,042 301 15,741 1,292 14,449 957 53 904 684 2 20

Oregon.................................. 40 12,987 128 12,859 1,714 11,145 1,726 60 1,6 6 6 1,547 119

Pennsylvania........................ 290 218,635 6,441 212,194 46,020 166,174 71,551 5,495 66,056 60,849 5,207

Rhode Island4 2

South Carolina..................... 86 18,009 162 17,847 868 16,979 1,726 168 1,558 1,325 233

South Dakota....................... 111 11,147 580 10,567 1,957 8,610 1,515 236 1,279 1,243 36

Tennessee.............................. 218 46,108 1,276 44,832 10,129 34,703 8,312 1,233 7,079 6,576 503

Texas.................................... 284 48,726 953 47,773 7,514 40,259 7,085 563 6,522 5,566 956

Utah..................................... 27 12,920 63 12,857 724 12,133 1,123 55 1,068 949 119

Vermont................................ 33 31,625 2,606 29,019 13,396 15,623 7,626 1,218 6,408 6,164 244

Virginia................................. 160 74,793 2,363 72,430 12,218 60,212 11,041 1,173 9,868 9,558 310

Washington.......................... 82 12,032 43 11,989 870 11,119 966 U 970 922 48

West Virginia....................... 74 30,373 1,923 28,450 6,500 21,950 5,475 958 4,517 4,107 410

Wisconsin.............................. 444 100,027 2,035 97,992 18,528 79,464 13,204 576 12,628 11,827 801

Wyoming.............................. 23 5,732 155 5,577 1,513 4,064 508 33 475 i 447

!|

28

irThe number of banks examined during the year does not agree with the number of banks at the close of the year.

2Total amount of assets classified as loss and doubtful less (1) appraised value of assets not shown on the books of the banks and (2) unrealized appreciation in a'ssets. 

8Not compiled.

4Figures are included in deposit groups and in total.

NOTE: Italics indicate excess of appraised value of assets over book value.

Back figures—See the following Annual Reports: 1936, p. 152; 1935, p. 184; 1934, p. 208.

COexaminers’ analysis of insured banks

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Table 127. APPRAISED VALUE OF ASSETS AS PERCENT OF BOOK VALUE OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS

o f t h e F e d e r a l R e s e r v e System , L a t e s t E xa m in a tion in 1987

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

03

to

United States—total.

Banks with deposits of

$1 00 ,00 0 and under..........

$100,000 to $250,000........

$250,000 to $500,000........

$500,000 to $1,000,000. . . 

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .. 

$2,000,000 to $5,000,000..

$5,000,000 to $10,000,000. 

$10,000,000 to $50,000,000 

Over $50,000,000*............

State 

Alabama..

Arizona__

Arkansas. . 

California. 

Colorado..

Connecticut...............

Delaware...................

District of Columbia4.

Florida......................

Georgia.......................

Idaho... 

Illinois. . 

Indiana. 

Iowa 

Kansas.

Number

of

banks1

7,293

564

2,110

2,065

1,335

734

350

77

53

5

124

5

154

89

50

37

24

97

183

20

419

341

412

254

Total assets

Cash and 

due from 

banks

Securities

Book

value

Estimated 

net loss 

and 

doubtful3

Appraised value i.i

Book

value

1

Estimated 

net loss 

and 

doubtful2

Appraised value

Total

Fixed 

and substandard

Not

criticized Total II

•!

SubstandardNot

criticized

(As percent’ of book value)

1 0 0 .0 1.1 98.9 15.6 83.3 1 00 .0 1 00 .0 1.0 1 01 .0 1 2 .8 8 8 .2

1 0 0 .0 3.2 96.8 17.8 79.0 1 00 .0 1 00 .0 1.0 1 01 .0 18.0 83.0

1 00 .0 1.4 98.6 15.0 83.6 100 .0 1 00 .0 .5 100.5 15.8 84.7

1 0 0 .0 .8 99.2 13.7 85.5 100 .0 1 00 .0 .8 100 .8 14.2 86.6

1 00 .0 1.0 99.0 14.8 84.2 1 00 .0 1 0 0 .0 4 100.4 14.1 86.3

1 0 0 .0 1.3 98.7 15.7 83.0 100 .0 1 00 .0 .8 100.3 13.6 86.7

1 00 .0 1.3 98.7 16.9 81.8 100 .0 1 00 .0 .3 100.3 12.4 87.9

1 0 0 .0 2 .0 98.0 18.6 79.4 100 .0 1 00 .0 .7 100.7 14.9 85.8

1 0 0 .0 .6 99.4 16.9 82.5 1 00 .0 1 00 .0 2.U 102.4 12.5 89.9

1 00 .0 .2 100.2 10.9 89.3 100 .0 1 00 .0 2.9 102.9 4.2 98.7

1 0 0 .0 .0 100.0 12.5 87.5 100 .0 1 0 0 .0 2.1 102 .1 19.8 82.3

1 0 0 .0 .6 100 .6 9.3 91.3 1 00 .0 1 00 .0 2.U 102.4 7.7 94.7

1 0 0 .0 1.5 98.5 14.6 83.9 100 .0 1 00 .0 .7 100.7 23.9 76.8

1 0 0 .0 1.5 101.5 11.9 89.6 100 .0 1 0 0 .0 U.2 104.2 2 .8 101.4

1 0 0 .0 1.1 98.9 1 0.1 8 8 .8 100 .0 1 00 .0 .8 1 00 .8 12.4 88.4

1 00 .0 1.5 98.5 26.6 71.9 100 .0 1 00 .0 2.6 1 02 .6 14.9 87.7

1 0 0 .0 1 .8 98.2 18.7 79.5 100 .0 1 00 .0 1.7 98.3 16.6 81.7

1 00 .0 .1 100.1 15.0 85.1 100 .0 1 00 .0 1.U 101.4 21.7 79.7

1 0 0 .0 .5 99.5 17.5 82.0 1 00 .0 1 00 .0 4 100.4 2 1 .2 79.2

1 0 0 .0 .1 100.1 5.2 94.9 1 00 .0 1 00 .0 1.2 1 01 .2 4.3 96.9

1 0 0 .0 100 .0 1 2 .6 87.4 1 00 .0 1 00 .0 1.5 101.5 8 .2 93.3

1 0 0 .0 1.4 98.6 14.4 84.2 1 00 .0 1 00 .0 4 100.4 9.1 91.3

1 00 .0 .1 99.9 10.9 89.0 1 00 .0 1 00 .0 .6 1 00 .6 9.4 91.2

1 0 0 .0 .4 99.6 7.1 92.5 1 00 .0 1 00 .0 2.U 102.4 3.4 99.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky...........

Louisiana...........

Maine.................

Maryland...........

Massachusetts...

Michigan............

Minnesota..........

Mississippi.........

Missouri.............

Montana............

Nebraska...........

Nevada5 .............

New Hampshire5.

New Jersey........

New Mexico. . . .

New York..........

North Carolina.. 

North Dakota...

Ohio...................

Oklahoma..........

Oregon...............

Pennsylvania___

Rhode Island6. .. 

South Carolina. . 

South Dakota...

Tennessee...........

Texas.................

Utah...................

Vermont.............

Virginia..............

Washington........

West Virginia. . .

Wisconsin...........

Wyoming...........

268

107

17

97

38

235

439

168

464

48

22423

93

14

178

174

116

362

163

40

2902

86

111

218

284

27

33

160

74

444

23

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

1 .0

.7

6 .0

.1

2 .1

.3

.2

.2

.8

.3

99.0 

100.7

94.0 

100.1

97.9

99.7 

100.2 

100.2

99.2

99.7

99.8

15.0

15.1

24.1 

18.5

13.7

7.4

1 1 .2 

17.9

12.7 

9,7

8 .2

84.0

85.6 

69.9

81.6

84.2

92.3

89.0

82.3

86.5

90.0

91.6

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

1 00 .0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

.5

2.5

2.9

u.u

2.5

.2

1.7

2.5

1.3

1.3

100.5

102.5 

97.1

104.4

97.5

100.2

101.7

102.3

101.3

101.3

101.9

13.3 

18.6 

24.1

19.6 

13.0

4.3

12.6

26.4 

10.6

7.5

5.3

87.2

83.9

73.0

84.8

84.5

95.9

89.1

75.9

90.7

93.8

96.6

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

5.1

1.3 

.6

4.3 

.7 

.1

1 .6

94.9 

100.0

98.7 

100.6

95.7

99.3

99.9

100.0

98.4

23.1

5.8

15.7

14.5 

18.9 

14.4

5.5

1 0.6 

23.6

71.8 

94.2

83.0

8 6.1

76.8

84.9

94.4

89.4 

74.8

100.0

1 00 .0

100.0

1 00 .0

1 00 .0

1 00 .0

1 00 .0

1 00 .0

100 .0

1 00 .0

1 00 .0

1 00 .0

1 00 .0

1 0 0 .0

100.0

1 00 .0

1 0 0 .0

1 00 .0

1.3

1.8

1.7

3.2

.84

2.0

1.6

,3

98.7

101 .8

101.7

103.2

100.8 

100.4 

102.0

101 .6

100.3

16.9

13.4

25.1

15.7

8.5 

5.7

2 .6 

19.3

81.8

97.7

88.3

78.1

85.1 

91.9

96.3

99.0

81.0

100 .0

100 .0

1 00 .0

100 .0

100 .0

100.0

100 .0

100 .0

100 .0

100 .0

1 00 .0

.3

3.1

2.3 

1 .0

1.1

6.4

2.3

.6

4.4 

1.2

.8

99.7 

96.9

97.7 

99.0

101 .1

93.6

97.7

100.6

95.6

98.8 

99.2

7.1

17.4

21.4 

1 2.8

6.9

34.0

18.0

9.7

17.5 

14.8

15.6

92.6

79.5

76.3

8 6 .2

94.2

59.6

79.7

90.9

78.1

84.0

83.6

1 00 .0

1 00 .0

1 00 .0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

100.0

1 00 .0

1 00 .0

100.0

1 00 .0

1 00 .0

1 00 .0

1 00 .0

1 00 .0

1 00 .0

.9

.3

.9

.5 a4

2.0

1.6

.8

2.1*

100.9 

99.7

100.9 

100.5

104.9

97.4

100.4

1 02 .0

98.4 

99.2

102.4

10.4 

19.8

23.0

13.1 

4.9

16.5 

14.0

13.2

11.5

1 1.6 

8.7®

90.5

79.9

77.9

87.4 

100 .0

80.9

86.4

83.8

86.9

87.6 

93.72

COCO

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T able 127. APPRAISED VALUE OP ASSETS AS PERCENT OF BOOK VALUE OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS 

of the Federal R eserve System, Latest Examination in 1937— Continued

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

Loans, discounts, and overdrafts Miscellaneous assets

Number

of

banks1 Book

Estimated 

net loss

Appraised value

Book

Estimated 

net loss

Appraised value

value and

doubtful3 Total |1 Subj standard

Not

criticized

value and

doubtful* Total

Fixed 

and substandard

Not

criticized

Jnlted States—total............ 7,293 1 00 .0 2.5 97.5 16.4

(As percent o 

81.1

f book value) 

1 00 .0 8 .1 91.9 82.9 9.0

Banks with deposits of—

$1 0 0 ,0 0 0 and under............. 564 1 00 .0 4.8 95.2 19.6 75.6 1 00 .0 14.9 85.1 80.3 4.8

$100,000 to $250,000........... 2 ,1 1 0 1 00 .0 2 .6 97.4 16.6 80.8 1 0 0 .0 9.9 90.1 81.8 8.3

$250,000 to $500,000........... 2,065 1 0 0 .0 2 .0 98.0 15.1 82.9 1 00 .0 7.2 92.8 87.2 5.6

$500,000 to $1,000,000........ 1,335 1 00 .0 2 .1 97.9 16.1 81.8 1 00 .0 6.5 93.5 84.0 9.5

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .... 734 1 0 0 .0 2.5 97.5 16.9 80.6 1 00 .0 8 .8 91.2 85.4 5.8

$2,000,000 to $5,000,000.... 350 1 0 0 .0 2.9 97.1 18.9 78.2 1 00 .0 6.5 93.5 8 6.1 7.4

$5,000,000 to $10,000,000... 77 1 0 0 .0 3.7 96.3 16.9 79.4 1 00 .0 9.8 90.2 80.5 9.7

$10,000,000 to $50,000,000.. 53 1 0 0 .0 3.1 96.9 15.0 81.9 1 00 .0 6.7 93.3 81.3 12.2

Over $50,000,000®............... 5 100 0 .9 99.1 13.5 85.6 1 00 .0 14.1 85.9 72.7 13.2

State

Alabama............................... 124 1 00 .0 .7 99.3 8.3 91.0 1 00 .0 1.1 98.9 89.1 9.8

Arizona................................. 5 1 0 0 .0 .6 99.4 13.0 86.4 1 00 .0 4 100.4 76.6 23.8

Arkansas............................... 154 1 00 .0 4.4 95.6 17.9 77.7 1 00 .0 5.9 94.1 73.8 20.3

California.............................. 89 1 0 0 .0 .2 99.8 14.6 85.2 1 0 0 .0 2.9 97.1 91.9 5.2

Colorado............................... 50 1 0 0 .0 3.3 96.7 13.6 83.1 1 00 .0 9.2 90.8 78.4 12.4

Connecticut.......................... 37 1 0 0 .0 3.9 96.1 35.9 60.2 1 0 0 .0 6.5 93.5 89.8 3.7

Delaware.............................. 24 1 0 0 .0 1.9 98.1 19.2 78.9 1 0 0 .0 8 .1 91.9 84.3 7.6

District of Columbia4...........

Florida.................................. 97 1 0 0 .0 1.3 98.7 1 0.8 87.9 1 0 0 .0 1.4 98.6 87.0 11.6

Georgia................................. 183 1 0 0 .0 .9 99.1 14.0 85.1 1 0 0 .0 2.7 97.3 91.2 6.1

Idaho.................................... 20 1 0 0 .0 .5 99.5 4.7 94.8 1 0 0 .0 2.9 97.1 88.5 8.6

Illinois.................................. 419 1 0 0 .0 1 .8 98.2 18.9 79.3 1 00 .0 3.1 96.9 90.7 6.2

Indiana................................. 341 1 00 .0 2 .8 97.2 19.4 77.8 100 .0 1 1.0 89.0 78.4 10.6

Iowa..................................... 412 1 00 .0 .6 99.4 14.1 85.3 100 .0 .8 99.2 96.8 2.4

Kansas.................................. 254 1 00 .0 1.8 98.2 9.2 89.0 100 .0 11.3 88.7 76.1 1 12.6

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Kentucky.............................. 268 100 .0 2 .2 97.8 18.8 79.0 1 0 0 .0 5.9 94.1 74.0 2 0.1

Louisiana.............................. 107 100.0 .5 99.5 15.2 84.3 1 00 .0 2.7 102.7 94.3 8.4

Maine................................... 17 100 .0 9.4 90.6 23.2 67.4 1 0 0 .0 15.6 84.4 83.2 1.2

Maryland.............................. 97 100 .0 3.1 96.9 17.2 79.7 1 00 .0 11.4 8 8 .6 78.0 10.6

Massachusetts...................... 38 100 .0 1.6 98.4 7.9 90.5 1 0 0 .0 8.3 91.7 85.6 6 .1

Michigan.............................. 235 100.0 .5 99.5 7.3 92.2 1 00 .0 6.7 93.3 89.8 3.5

Minnesota............................ 439 100 .0 1.1 98.9 10.4 88.5 1 00 .0 3.1 96.9 80.0 16.9

Mississippi............................ 168 100.0 1.4 98.6 17.3 81.3 100 .0 5.4 94.6 79 -8 14.8

Missouri................................ 464 100.0 2.4 97.6 16.0 81.6 100 .0 5.9 94.1 76.7 17.4

Montana.............................. 48 1 00 .0 2.7 97.3 1 1 .8 85.5 1 00 .0 2.5 102.5 8 8.1 14.4

Nebraska.............................. 224 100.0 1.3 98.7 11.9 8 6.8 100 .0 6.3 93.7 83.6 10.1

Nevada5................................ 2

New Hampshire6.................. 3

New Jersey........................... 93 100 .0 7.6 92.4 2 1 .6 70.8 1 00 .0 16.8 83.2 75.6 7.6

New Mexico......................... 14 1 00 .0 1.1 98.9 9.0 89.9 1 0 0 .0 5.0 95.0 79.1 15.9

New York............................. 178 100 .0 3.6 96.4 12.3 84.1 1 00 .0 7.2 92.8 78.2 14.6

North Carolina.................... 174 100 .0 1.5 98.5 1 0 .2 88.3 1 0 0 .0 .5 99.5 74.6 24.9

North Dakota...................... 116 100 .0 10.6 89.4 24.7 64.7 1 0 0 .0 12.9 87.1 74.5 1 2.6

Ohio...................................... 362 1 00 .0 1.7 98.3 17.6 80.7 1 00 .0 4.4 95.6 92.6 3.0

Oklahoma............................. 163 100 .0 1.9 98.1 8 .1 90.0 1 0 0 .0 5.5 94.5 71.5 23.0

Oregon.................................. 40 100.0 1.0 99.0 13.2 85.8 1 00 .0 3.5 96.5 89.6 6.9

Pennsylvania........................ 290 100.0 2.9 97.1 2 1 .1 76.0 1 00 .0 7.7 92.3 85.0 7.3

Rhode Island5 ...................... 2

South Carolina..................... 86 100 .0 .9 99.1 4.8 94.3 1 00 .0 9.7 90.3 76.8 13.5

South Dakota....................... 111 100 .0 5.2 94.8 17.6 77.2 1 00 .0 15.6 84.4 82.0 2.4

Tennessee............................. 218 100 .0 2 .8 97.2 2 2 .0 75.2 1 00 .0 14.8 85.2 79.1 6 .1

Texas.................................... 284 100.0 2 .0 98.0 15.4 82.6 1 00 .0 7.9 92.1 78.6 13.5

Utah..................................... 27 100.0 .5 99.5 5 6 93.9 1 00 .0 4.9 95.1 84.5 1 0.6

Vermont............................... 33 100 .0 8 .2 91.8 42.4 49.4 1 00 .0 16.0 84.0 80.8 3.2

Virginia................................ 160 100 .0 3.2 96.8 16.3 80.5 1 00 .0 1 0.6 89.4 8 6.6 2 .8

Washington........................... 82 1 00.0 .4 99.6 7.2 92.4 1 00.0 •U 100.4 95.4 5.0

West Virginia....................... 74 1 00.0 6.3 93.7 21.4 72.3 1 00 .0 17.5 82.5 75.0 7.5

Wisconsin............................. 444 100 .0 2 .0 98.0 18.5 79.5 1 00 .0 4.4 95.6 89.5 6 .1

Wyoming.............................. 23 100 .0 2.7 97.3 26.4 70.9 100 .0 6.5 93.5 8 8.0 5.5

lfThe number of banks examined during the year does not agree with the number of banks at the close of the year.

*Total amount of assets classified as loss and doubtful less (1) appraised value of assets not shown on the books of the banks and (2) unrealized appreciation in assets. 

3Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.

4Not compiled.

‘Figures are included in deposit groups and in total.

NOTE: Italics indicate excess of appraised value of assets over book value.

Back figures—See the following Annual Reports: 1936, p. 156; 1935, p. 188; 1934, p. 212.

EXAMINERS’ ANALYSIS OF INSURED BANKS 135

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 128. NUMBER AND DEPOSITS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE FEDERAL RESERVE SYSTEM,

L a te s t E xam in ation in 1937

GROUPED BY QUALITY OF MANAGEMENT, NET CAPITAL AND SUBSTANDARD ASSET RATIOS, AND RATE OF NET EARNINGS ON TOTAL ASSETS

Number1 Deposits (in thousands of dollars)

All

banks

Banks with management considered to be—

All

banks

Banks with management considered to be—

Good Satisfactory Fair Unsatisfactory Poor Good Satisfactory Fair Unsatisfactory Poor

All banks................................ 7,293 747 3,632 2,066 673 175 6,016,839 866,646 3,083,168 1,458,172 437,037 171,816

Banks with net capital 

account as percent of 

net value of assets of— 

0 percent.............................. 13 2 g 8 10,911

157,695

1,547,472

2,659

6,941

771,488

1,051

45,501

396,190

7,201

67,797

37,400

1 to 5 percent......................

5 to 10 percent.....................

72

1,365

2

130

6

617

25

398

22

170

17

50

22,457

163,121

14,999

179,273

10 to 15 percent...................

15 to 20 percent...................

20 to 25 percent...................

2,786

1,795

776

309

196

62

1,465

908

393

738

517

240

231

144

64

43

30

17

2,545,833

1,227,777

336,932

429,989

166,448

28,719

1,356,539

671,997

190,298

601,181

287,072

87,728

121,629

87,233

23,123

36,495

15,027

7,064

25 to 30 percent...................

30 to 35 percent...................

35 to 40 percent...................

40 percent and over.............

278

128

43

37

26

10

8

4

139

66

19

17

84

38

12

11

25

10

3

4

4

4

1

1

81,775

62,636

36,616

9,192

9,249

37,369

6,472

2,822

43,499

11,031

25,536

3,180

20,448

12,096

3,916

2,989

8,246

1,863

571

100

333

277

121

101

Banks with substandard 

assets as percent of 

net value of assets of—

Under 5 percent...................

5 to lo percent.....................

10 to 15 percent...................

812

1,591

1,581

278

242

130

462

1,035

886

61

255

452

5

52

94

6

7

19

533,443

1,412,269

1,232,632

228,040

274,763

218,668

247,524

970,218

629,982

42,146

132.019

310,346

1,784

30,826

61,549

13,949

4,443

12,087

15 to 2 0 percent...................

20 to 25 percent.................

25 to 30 percent...................

1,255

877

507

59

24

8

587

346

166

455

343

218

131

133

93

23

31

22

1,010,971

749,710

468,308

64,679

53,897

20,113

602,706

310,573

161,687

263,331

299,945

128,976

66,710

63,174

90,436

13,545

2 2,121

67,096

30 to 35 percent...................

35 to 40 percent...................

318

161

3 79

37

137

74

78

35

21

15

266,503

193,427

149,576

988 83,963

39,981

36,534

121 ,11 2

108,932

51,365

49,086

35,819

37,653

11,354

8,695

40 percent and over............. 191 3 34 71 52 31 5,498 18,526

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Banks with net current 

operating deficits per 

$100 of total assets

of— 2..............................

$0.50 and over.................... 62 23 24 10 5 44,790

93,944

19,936

38,036

19,533

25,915

2,295

8,180

3,026 Less than $0.50.................... 143 8 56 45 27 7 16,706 5,107

Banks with net current 

operating earnings 

per $10 0 of total assets

of—*..............................

Less than $0.50....................

$0.50 to $0.99.......................

$1.00 to $1.49.......................

892

2,071

2,266

47

175

255

425

1,027

1,164

295

604

626

101

211

180

24

54

41

717,081

1,834,408

2,191,473

62,337

213,544

337,719

284,311

889,389

1,278,522

253,577

531,684

414,759

51,150

149,175

136,405

65,706

50,616

24,068

$1.50 to $1.99.......................

$2.00 to $2.49.......................

$2.50 to $2.99.......................

$3.00 and over......................

1,068

433

167

129

121

67

34

28

549

213

86

60

288

111

29

27

85

31

15

11

25

11

3

3

696,280

195,931

98,162

59,044

130,813

36,407

39,037

20,845

353,825

91,345

45,277

26,009

143,449

47,885

6,838

7,604

56,625

13,578

3,957

3,343

11,568

6,716

3,053

1,243

Banks operating less 

than full year............. 62 12 29 17 2 2 85,726 9,238 56,518 6,928 12,329 713

irThe number of banks examined during the year does not agree with the number of banks at the close of the year.

aAverage net current operating earnings for the last 3-year period as percent of monthly average of total assets for the last 3-year period. In the case of banks operating for 

1 year or more but less than 3 years, averages are for calendar years of operations.

COEXAMINERS* ANALYSIS OF INSURED BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Table 129. SUMMARY OF EXAMINERS* ANALYSIS OF LOANS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F e d e r a l R e s e r v e System , E xam in ation s 1934-1937

co

00

United States—total.

Banks with deposits of-

$1 00 ,00 0 and under..........

$100,000 to $250,000........

$250,000 to $500,000........

$500,000 to $1,000,000. . . 

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 .. 

$2,000,000 to $5,000,000..

$5,000.,000 to $1 0 ,0 0 0 ,0 0 0 . 

$10,000,000 to $50,000,000 

Over $50,000,0002...........

State 

Alabama.. 

Arizona... 

Arkansas. . 

California. 

Colorado..

Connecticut...............

Delaware...................

District of Columbia..

Florida......................

Georgia......................

Idaho.. 

Illinois. . 

Indiana. 

Iowa. .. 

Kansas.

BANKS GROUPED BY AMOUNT OF DEPOSITS AND BY STATE

Estimated loss and doubtful loans as percent 

of book value of loans

Substandard loans as percent 

of book value of loans

Not criticized loans as percent 

of book value of loan s

1934 1935 1936 1937 1934 1935 1936 1937 1934 1935 1936 1937

8 .0 6.5 4.4 2.5 32.6 25.4 2 1 .0 16.4 59.4 6 8 .1 74.6 81.1

8.4 7.1 6.4 4.8 34.8 25.9 22.3 19.6 56.8 67.0 71.3 75.6

6 .1 4.6 3.5 2 .6 35.1 23.9 19.8 16.6 58.8 71.5 76.7 80.8

6.5 4.3 3.1 2 .0 34.4 23.7 18.7 15.1 59.1 72.0 78.2 82.9

6.4 4.5 3.4 2 .1 35.9 26.0 20.4 16.1 57.7 69.5 76.2 81.8

7.6 6 .1 4.3 2.5 33.9 26.1 21.3 16.9 58.5 67.8 74.4 80.6

8.9 7.8 5.2 2.9 31.2 26.9 2 2 .8 18.9 59.9 65.3 72.0 78.2

1 J 4.9 3.7 \ 31.2 26.3 J 20.4 16.9 }► 58.9 65.2 J 74.7 79.4

> 9.9 8.5 i 6.3 3.1 i 23.5 15.0 i 70.2 81.9

8.7 7.8 3.8 .9 25.8 2 0 .6 19.0 13.5 65.5 71.6 77.2 85.6

5.1 2.5 1 .2 .7 30.9 18.5 17.2 8.3 64.0 79.0 81.6 91.0

(3) 1.3 .9 .6 (3) 28.5 17.1 13.0 (3) 70.2 82.0 86.4

5.7 5.8 6.3 4.4 52.6 28.5 22.3 17.9 41.7 65.7. 71.4 77.7

2.7 2 .8 2.1 .2 25.3 19.6 18.8 14.6 72.0 77.6 79.1 85.2

1 0.1 7.8 6 .0 3.3 28.4 23.4 17.9 13.6 61.5 6 8 .8 76.1 83.1

7.1 6.5 5.3 3.9 25.1 35.0 35.1 35.9 67.8 58.5 59.6 60.2

6 .0 3.8 2.9 1.9 29.5 23.5 2 1 .1 19.2 64.5 72.7 76.0 78.9

(3) (*) (3) (4) (8) (3) (3) (4) (3) (3) (•) (4)

3.8 2.4 1.8 1.3 30.6 19.0 14.7 1 0 .8 65.6 78.6 83.5 87.9

4.5 2.7 1.7 .9 85.8 25.6 22.4 14.0 59.7 71.7 75.9 85.1

5.6 3.7 2 .8 .5 26.4 13.7 1 0.6 4.7 6 8 .0 82.6 8 6 .6 94.8

5.8 3.5 2.9 1 .8 37.4 30.3 23.7 18.9 56.8 6 6 .2 73.4 79.3

7.7 5.4 4.6 2 .8 36.1 28.8 23.8 19.4 56.2 65.8 71.6 77.8

3.7 1 .6 .7 .6 31.2 21.9 15.9 14.1 65.1 76.5 83.4 85.3

7.1 4.1 2 .2 1.8 2 1 .8 12.1 9.7 9.2 71.1 83.8 8 8 .1 89.0

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
Kentucky...........

Louisiana...........

Maine.................

Maryland...........

Massachusetts...

Michigan............

Minnesota..........

Mississippi.........

Missouri.............

Montana............

Nebraska.............

Nevada3...............

New Hampshire*.

New Jersey.........

New Mexico.

3.7

4.8 

12.6

6.2

5.9

8.0

4.1 

4.4

5.3

6.4

6.1

4.1

2.7 

12.3

6.4

5.1

6.3

3.2

2.9 

5.0

5.7

1.9

3.1

1.5 

11.7

4.5 

3.3

2.1

1.9 

1.8 

4.1

3.0

1.1

2.2

.5

9.4

3.1 

1.6

.5

1.1

1.4

2.4 

2.7

1.3

33.4

40.7

36.8 

42.0 

26.3

29.8

24.2 

40.6

28.8

31.3

23.8

27.4

35.4

40.5 

32.7

27.4

19.0

13.9

32.9

22.4 

17.3

15.6

21.9

24.9 

32.7

24.6

16.9

10.5 

12.0 

23.3

18.7

13.5

11.7

18.8

15.2

23.2

17.2 

7.9

7.3

10.4

17.3 

16.0 

11.8

11.9

62.9

54.5

50.6

51.8

67.8

62.2

71.7

55.0

65.9 

62.3

70.1

68.5

61.9

47.2

60.9

67.5

74.7

82.9

64.2

72.6 

77.0

82.5

75.0

73.6

55.6 

70.9

79.8

87.4

86.1

74.9

77.2

83.5

87.2

79.0

84.3

67.4

79.7

90.5

92.2

88.5

81.3

81.6 

85.5

86.8

New York........

North Carolina. 

North Dakota..

Ohio.................

Oklahoma.........

Oregon..............

Pennsylvania... 

Rhode Island3. . 

South Carolina. 

South Dakota..

19.5

6.3

10.9

4.3

23.5

7.3 

4.5

6.3 

8.2

17.7

4.0

9.4

2.4 

19.3

6.0

2.3

6.1

7.6

12.4 

2.8

7.0

2.3

14.4

3.6

1.7

1.6

4.3

7.6 

1.1

3.6 

1.5

10.6

1.7

1.9

1.0

2.9

35.7

44.8

20.8 

33.1 

39.9 

46.6 

22.5

47.8

24.8

24.7

18.3

16.9 

27.0

31.7

12.4

33.8

27.5

23.7 

16.2

18.6

14.5

27.2

24.1 

9.6

22.8

24.2

21.6

9.0

12.3

10.2

24.7

17.6

8.1

13.2

21.1

44.8

48.9

68.3

62.6

36.6

46.1 

73.0

45.9

58.2

57.5

71.3

72.3

80.7

53.7

62.3

85.3

60.1

64.9

63.9

81.0

74.4

83.2

58.4

72.3 

88.7

75.6

71.5

70.8

89.9

84.1

88.3

64.7

80.7

90.0

85.8

76.0

Tennessee.

Texas.

Utah.........

Vermont.., 

Virginia.. .

Washington... 

West Virginia.

Wisconsin.......

Wyoming........

1.0

16.3

6.1

8.8

7.4

12.6

6.1

4.0

11.6

8.3

9.7

1.5 

10.1

5.7

7.0 

2.2

14.8

5.0

2.1 

10.2

6.4

5.6

2.3 

8.5

3.4 

3.9

1.4 

12.2

4.0

1.2

8.8

4.2

4.2

.9

5.2

2.8

2.0

.5

8.2

3.2

.4

6.3 

2.0 

2.7

14.0

32.0

43.9

41.6

27.3

41.9

36.7

34.8

39.9 

43.6

31.3

6.0

20.6

36.2 

29.0

23.2

47.5

25.2

22.9

33.2

32.6

39.3

7.2

17.5

25.8

20.8 

9.5

48.2 

21.9

12.6

26.0 

25.5

34.2

4.8

17.6

22.0

15.4 

5.6

42.4

16.3

7.2

21.4

18.5 

26.4

85.0 

51.7

50.0 

49.6 

65.3

45.5

57.2

61.2

48.5

48.1 

59.0

92.5 

69.3

58.1

64.0

74.6

37.7

69.8

75.0 

56.6

61.0 

55.1

90.5

74.0

70.8

75.3

89.1

39.6

74.1

86.2

65.2

70.3

61.6

94.3

77.2

75.2 

82.6

93.9

49.4

80.5

92.4

72.3

79.5

70.9

Tor 1934 and 1935, deposits are as of December 31; for 1936 and 1937, deposits are as of date of examination.

2Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. 

’Figures are included in deposit groups and in total.

‘Not compiled.

00

CDEXAMINEES’ ANALYSIS OF INSURED BANKS

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Federal Reserve Bank of St. Louis
F e d e r a l R e s e r v e System, L a t e s t E x a m in a tion in 1937

o

BANKS GROUPED BY AMOUNT OF DEPOSITS

Table 130. BOOK VALUE OP SECURITIES HELD BY OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

Number

of

banks1

Net book 

value of 

securities

Valuation

allowance

Gross book value of securities before deduction of valuation allowance

Total

Group I—satisfactory for bank investment Substandard

Total

Obligations 

of the U. S. 

Government*

States and 

their political subdivisions and 

other noncorporate 

issues3

Corporate bonds ratedTotal

Low-grade

and

defaulted

bonds

StocksBettergrade

Borderline

(In thousands of dollars)

All banks................................ 7,293 2,584.211 20,410 2,604,621 2,260,862 1,194,950 525,312 301,250 239,350 343,759 257,097 86,662

Banks with deposits of—

$1 00 ,00 0 and under.............. 564 8,687 18 8,705 7,116 4,362 2,168 225 361 1,589 1,510 79

$100,000 to $250,000............ 2 ,1 1 0 113,340 428 113,768 95,136 51,887 25,679 6,964 10,606 18,632 17,877 755

$250,000 to $500,000............ 2,065 270,405 987 271,392 232,416 114,737 64,971 23,599 29,109 38,976 36,661 2,315

$500,000 to $1,000,000 1,335 381,657 1,675 383,332 326,813 153,161 86,135 42,907 44,610 56,519 49,751 6,768

$1,000 ,00 0 to $2 ,0 0 0 ,0 0 0 ___ 734 445,232 2,862 448,094 383,682 180,498 90,549 62,153 50,482 64,412 52,478 11,934

$2,000,000 to $5,000,000___ 350 478,526 3,616 482,142 418,473 212,896 82,679 72,344 50,554 63,669 41,892 21,777

$5,000,000 to $10,000,000. .. 77 226,066 1,587 227,653 192,510 110,241 36,369 26,974 18,926 35,143 17,750 17,393

$10,000,000 to $50,000,000. . 53 441,469 4,135 445,604 391,172 224,086 84,663 54,228 28,195 54,432 32,151 22,281

Over $50,000,000*................. 5 218,829 5,102 223,931 213,544 143,082 52,099 11,856 6,507 10,387 7,027 3,360

(As percent of net book value of securities)

All banks................................ 7,293 1 0 0 .0 .8 1 00.8 87.5 46.2 20.3 11.7 9.3 13.3 9.9 3.4

Banks with deposits of—

$100 ,00 0 and under.............. 564 1 0 0 .0 .2 100 .2 81.9 50.2 25.0 2 .6 4.1 18.3 17.4 .9

$100,000 to $250,000............ 2 ,1 1 0 1 0 0 .0 .4 100.4 83.9 45.8 22.7 6 .1 9.3 16.5 15.8 .7

$250,000 to $500,000........... 2,065 1 0 0 .0 .4 100.4 8 6 .0 42.5 24.0 8.7 1 0.8 14.4 13.6 .8

$500,000 to $1,000,000 ....... 1,335 1 0 0 .0 .4 100.4 85.6 40.1 2 2 .6 1 1 .2 11.7 14.8 13.0 1.8

$1 ,00 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ___ 734 1 0 0 .0 .6 100 .6 8 6 .2 40.6 20.3 14.0 11.3 14.4 1 1 .8 2 .6

$2,000,000 to $5,000,000.. . 350 1 0 0 .0 .8 100.8 87.5 44.5 17.3 15.1 1 0.6 13.3 8 .8 4.5

$5,000,000 to $10,000,000. .. 77 1 0 0 .0 .7 100.7 85.2 48.8 16.1 11.9 8.4 15.5 7.8 7.7

$10,000,000 to $50,000,000.. 53 1 0 0 .0 .9 100.9 8 8 .6 50.7 19.2 12.3 6.4 12.3 7.3 5.0

Over $50,000,0004................. 5 1 0 0 .0 2.3 102.3 97.6 65.4 23.8 5.4 3.0 4.7 3.2 1.5

lThe number of banks examined during the year does not agree with the number of banks at the close of the year, 

includes both direct and fully guaranteed, 

includes some not-rated corporate issues.

‘Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
EARNINGS OF INSURED COMMERCIAL BANKS 141

EARNINGS OF INSURED COMMERCIAL BANKS

Table 131. EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF OPERATING 

In su re d C om m ercial B anks, C a le n d a r Y e a r 1937

BY CLASS OF BANK

(Amounts in thousands of dollars)

All insured 

banks

Banks n 

F. R. i

National

nembers

System

State

Banks not 

members 

F. R. 

System1

Number of banks................................................. 13,783 5,260 1,081 7,442

Current operating earnings:

Interest and discount on loans....................................

Interest and dividends on securities...........................

Commissions, fees, and collection, exchange, and service charges.............................................................

703,656

571,613

110.600

240,498

1,631,367

372.773

323,573

54,286

106,268

856,900

179,790

157,237

23,188

104,150

464,365

156,093

90,803

33,126

30,080

310,102

Other current operating earnings................................

Gross current operating earnings.....................

Current operating expenses:

Interest on time and savings deposits........................

Interest and discount on borrowings..........................

Salaries, wages, and fees.............................................

Taxes (other than on income).....................................

Depreciation on banking house, furniture and fixtures.

Other current operating expenses...............................

Total current operating expenses......................

Net current operating earnings................................

Profits on assets sold or exchanged, recoveries and 

reductions in valuation allowances:

Profits on securities sold or exchanged.......................

Recoveries and reductions in valuation allowances on 

loans........................................................................

235,031

1,333

462,782

2102,615

351,382

307,160

1,160,303

471,064

124.599

331

240,051

255.581

24.581 

164,296 

609,439

247,461

49,850 

245 

139,019 

230,6 12 

12,287 

97,831 

329,844

134,521

60,582

757

83,712

16,422

314,514

45,033

2 21 ,02 0

89,082

117,194

89,812

57,898

43,819

308,723

68,840

50,303

33,772

18,445

171,360

30,110

25,200

16,554

12,944

84,808

18,244

14,309

7,572

12,430

52,555

Recoveries and reductions in valuation allowances on

securities..................................................................

All other recoveries, profits on assets sold, and reductions in valuation allowances..................................

Total profits on assets sold, recoveries, etc....

Net earnings, profits and recoveries on assets, etc..

Losses, charge-offs, and additions to valuation 

allowances:

On loans......................................................................

779,787 418,821 219,329 141,637

141,448

176,373

77,067

394,888

71,775

92,132

27,495

191,402

33,013

55,826

21,349

110,188

36,660

28,415

28,223

93,298

On securities................................................................

All other losses, charge-offs, and additions to valuation 

allowances.............. . ...............................................

Total losses, charge-offs, etc...............................

Net profits before income taxes and dividends. . . .

Income taxes, Federal and State..............................

Net profits after income taxes...................................

Cash dividends declared and interest paid on 

capital:

Interest paid on capital notes and debentures and dividends declared on preferred stock...........................

Dividends declared on common capital......................

Total cash dividends declared and interest paid 

on capital...........................................................

(4)

(4) 380,051

(4)

(4)

227,419

(4)

(4)

109,141

48,339

4,848

43,491

24,164

201,260

225,424

11,528

109,907

121,435

6,409

73,157

79,566

6,227

18,196

24,423

Net profits after dividends......................................... 154,627 105,984 29,575 19,068

Excludes 2 national banks in Alaska; 1 national bank in the Virgin Islands; 9 State banks in the 

District of Columbia; and 2 other State banks.

includes “income taxes” for national and State banks members of the Federal Reserve System, 

includes “other expenses of occupancy and maintenance of banking quarters” for banks not members of the Federal Reserve System.

4Not available. See footnote 2.

Back figures—See Table 132, and the following Annual Reports: 1S36, p. 165; 1935, p. 198.

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

T able 132. EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OP OPERATING

In su re d C om m ercial B anks, C a le n d a r Y e a r s 1934-1937

(Amounts in thousands of dollars)

>1934 11935 11936 1937

Number of banks3. 14,124 14,110 13,956 13,783

Current operating earnings:

Interest and discount on loans...................................

Interest and dividends on securities...........................

Commissions, fees, and collection, exchange, and service charges.............................................................

689,143

549,504

75,553

201,408

1,515,608

641,737

547,108

89,668

204,488

1,483,001

661,574

573,472

104,696

223,948

1,563,690

708,656

571,613

110,600

240,498

1,631,367

Other current operating earnings................................

Gross current operating earnings.....................

Current operating expenses:

Interest on time and savings deposits........................

Interest and discount on borrowings..........................

Salaries, wages, and fees.............................................

Taxes...........................................................................

323,029

7.319

401,222

76,834

47.710

258,829

1,114,943

276.998

2.642

410,084

79,047

39,815

272,104

1,080,690

236,830

1,624

436,624

895,113

<52,196

299,118

1,121,505

235,031

1,333

462,782

*102,615

<51,382

307,160

1,160,303

Depreciation on banking house, furniture and fixtures.

Other current operating expenses...............................

Total current operating expenses......................

Net current operating earnings................................

Profits on assets sold or exchanged, recoveries and 

reductions in valuation allowances:

Profits on securities sold or exchanged.......................

Recoveries and reductions in valuation allowances on 

loans........................................................................

400,665 402,311 442,185 471,064

(5)

52,770

206,120

32,755

291,645

(5)

81,675

315,937

34,445

432,057

267,674

110,403

174,970

31,404

584,451

117,194

89,812

57,898

43,819

308,723

Recoveries and reductions in valuation allowances on 

securities..................................................................

All other recoveries, profits on assets sold, and reductions in valuation allowances..................................

Total profits on assets sold, recoveries, etc....

Net earnings, profits and recoveries on assrets, etc.

Losses, charge-offs, and additions to valuation 

allowances:

On loans.......................................................................

692,310 834,368 1,026,636 779,787

551,644

391,266

88,619

1,031,529

318,271

239,053

70,125

627,449

249,756

154,574

96,485

500,815

141,448

176,373

77,067

394,888

On securities................................................................

All other losses, charge-offs, and additions to valuation 

allowances................................................................

Total losses, charge-offs, etc..............................

Net profits before dividends.......................................

Cash dividends declared and interest paid on 

capital....................................................................

-339,219

187,595

206,919

207,317

•523,379

223,208

•380,051

225,424

Net profits after dividends......................................... -526,814 -398 300,171 154,627

iFigures were revised by the transfer of “depreciation on banking house, furniture and fixtures” , 

from the category of loss or charge-off to that of current operating expense. See NOTE on page 65.

2Excludes the following insured banks not members of the Federal Reserve System: 25 for 1934; 

16 for 1935; 17 for 1936; and 14 for 1937. Excludes in addition for 1936, 52 national banks and 9 State 

banks members of the Federal Reserve System reporting for the first half of the year only, the figures of 

which are included.

3Exdudes “income taxes” of $2,442,000 in 1936, and of $4,848,000 in 1937 paid by banks not members 

of the Federal Reserve System.

includes “ other expenses of occupancy and maintenance of banking quarters” for banks not members of the Federal Reserve System, 

included with recoveries.

•After payment of “ income taxes” . See footnote 3.

NOTE: Minus (-) indicates net loss.

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Federal Reserve Bank of St. Louis
EARNINGS OP INSURED COMMERCIAL BANKS 143

Table 133. RATIOS OP EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OP 

O p e ra tin g In su re d C om m ercial B an ks, C a le n d a r Y e a r s 1934-1937

(Amounts per $100 of total assets) 1

21934 21935 21936 1937

Number of banks5. . 14,124 14,110 13,956 13,783

Current operating earnings:

Interest and discounts on loans..................................

Interest and dividends on securities...........................

Commissions, fees, and collection, exchange, and service charges.............................................................

Other current operating earnings................................

Gross current operating earnings.....................

$1.53

1 .2 2

.17

.45

3.37

$1.33

1.14

.19

.42

3.08

$1.24

1.07

.2 0

.41

2.92

$1.29

1.04

.2 0

.44

2.97

Current operating expenses:

Interest on time and savings deposits........................

Interest and discount on borrowings..........................

Salaries, wages, and fees..............................................

Taxes...........................................................................

Depreciation on banking house, furniture and fixtures.

Other current operating expenses...............................

Total current operating expenses......................

$0.72

.0 2

.89

.17

.11

.57

2.48

$0.57

.01

.85

16

.08

.57

2.24

$0.44

.0 0

.82

<.18

8.09 

.56

2.09

$0.43

.0 0

.84

«.19

*.09

.56

2 .1 1

Net current operating earnings................................ $0.89 $0.84 $0.83 $0 .8 6

Profits on assets sold or exchanged, recoveries and 

reductions in valuation allowances:

Profits on securities sold or exchanged.......................

Recoveries and reductions in valuation allowances on

loans.........................................................................

Recoveries and reductions in valuation allowances on

securities..................................................................

All other recoveries, profits on assets sold, and reductions in valuation allowances..................................

Total profits on assets sold, recoveries, etc....

(«)

$0 .1 2

.46

.07

.65

(8)

$0.17

.6 6

.07

.90

$0.50

.21

.33

.05

1.09

$0 .2 1

.16

.11

.08

.56

Net earnings, profits and recoveries on assets, etc. $1.54 $1.74 $1 92 $1.42

Losses, charge-offs, and additions to valuation 

allowances:

On loans.......................................................................

On securities................................................................

All other losses, charge-offs, and additions to valuation

allowances................................................................

Total losses, charge-offs, etc...............................

$1.23

.87

.19

2.29

$0 .6 6

.50

.15

1.31

$0.47

.29

.18

.94

$0.26

.32

.14

.72

Net profits before dividends....................................... $-0.75 $0.43 7$0.98 7$0.69

Cash dividends declared and interest paid on 

capital.................................................................... .42 .43 .42 .41

Net profits after dividends......................................... $-1.17 $0.56 $0.28

Averages of figures for beginning, middle, and end of year.

^Figures were revised by the transfer of “depreciation on banking house, furniture and fixtures", 

from the category of loss or charge-off to that of current operating expense. See NOTE on page 65.

3Excludes the following insured banks not members of the Federal Reserve System: 25 for 1934; 

16 for 1935; 17 for 1936; and 14 for 1937. Excludes in addition for 1936, 52 national banks and 9 State 

banks members of the Federal Reserve System, reporting for the first half of the year only, the figures 

of which are included.

^Excludes “income taxes*' paid by banks not members of the Federal Reserve System.

^Includes “other expenses of occupancy and maintenance of banking quarters” for banks not members of the Federal Reserve System.

•Included with recoveries.

7After payment of “income taxes” . See footnote 4.

NOTE: Minus (-) indicates net loss.

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Federal Reserve Bank of St. Louis
T a b le 134. EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF OPERATING INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

Federal R eserve System, Calendar Y ears 1934-1937

Amounts in thousands of dollars Amounts per $100 of total assets1

1937

21934 21935 1936 Total

1 Operating 

throughout 

entire year

Operating 

less than 

full year

1934 1935 1936 1937

Number of banks3........................................ 7,682 7,723 7,580 7,442 7,351 91 7,682 7,723 7,580 7,442

Current operating earnings:

Interest and discount on loans........................... 149,129 143,319 148,170 156,093 155,287 806 $2.42 $2 .2 1 $2.13 $2.14 Interest and dividends on securities.................. 75,713 79,894 86,365 90,803 90,467 336 1.23 1.23 1.24 1.24 Commissions, fees, and collection, exchange, and 

service charges................................................. 20,124 25,201 33,877 33,126 32,875 251 .33 .39 .49 .45

Other current operating earnings....................... 26,769 27,927 24,357 30,080 29,994 86 .42 .43 .35 .41

Gross current operating earnings............ 271,735 276,341 292,769 310,102 308,623 1,479 4.40 4.26 4.21 4.24

Current operating expenses:

Interest on time and savings deposits............... 79,666 68,512 61,664 60,582 60,373 209 $1.28 $1.06 $0.89 $0.83

Interest and discount on borrowings................. 3,682

73,798

1,411

75,620

1,017

78,632

757 757 .06

1 .2 0

.02

1.16

02 .01

Salaries, wages, and fees..................................... 83,712 83,189 523 1.13 1.14

Taxes (other than on income)............................ 414,556 415,368 13,961 16,422 16,328 94 .24 .24 .20 .22

Other expenses of occupancy and maintenance of 

banking quarters............................................... *8,288 *6,2 2 2 13,475 14,514 14,444 70 .13 .09 .19 .20

Other current operating expenses...................... 46,142 47,435 41,914 45,033 44,703 330 .75 .73 .60 .62

Total current operating expenses............. 226,132 214,568 210,663 2 21 ,02 0 219,794 1,226 3.66 3.30 3.03 3.02

Net current operating earnings........................ 45,603 61,773 82,106 89,082 88,829 253 $0.74 $0.96 $1.18 $1 .22

Profits on assets sold or exchanged, recoveries 

and reductions in valuation allowances:

Profits on securities sold or exchanged..............

Profits on other assets sold or exchanged..........

Recoveries and reductions in valuation allowances on loans..................................................

(6)

(6)

8,381

(•)

(6)

9,765

36,975

1,524

16,148

18,244

2,076

14,309

18,206

2,072

14,251

38

4

58 $0.14 $0.15

$0.53

.02

.23

$0.25

.03

.20

Recoveries and reductions in valuation allowances on securities........................................... 20,529 38,897 14,653 7,572 7,556 16 .33 .60 .21 .10

All other recoveries and reductions in valuation 

allowances........................................................ 8,776 7,370 7,083 10,354 10,260 94 .14 .11 .11 .14

Total profits on assets sold, recoveries, etc. 37,686 56,032 76,383 52,555 52,345 210 .61 .86 1 .10 .72

Net earnings, profits and recoveries on assets

etc..................................................................... 83,289 117,805 158,489 141,637 141,174 463 $1.35 $1.82 $2.28 $1.94

Losses, charge-offs, and additions to valuation 

allowances:

On loans.............................................................. 99,862 65,897 43,213 36,660 36,358 302 $1.61 $1 .02 $0.62 $0.50

On securities........................................................ 70,770 40,263 23,166 28,415 28,331 84 1.15 .62 .33 .39

All other losses, charge-offs, and additions to 

valuation allowances....................................... 27,375 16,607 31,588 28,223 28,035 188 .45 .26 .46 .39

Total losses, charge-offs, etc...................... 198,007 122,767 97,967 93,298 92,724 574 3.21 1.90 1.41 1.28

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Net profits before income taxes and dividends

Income taxes, Federal and State.....................

Net profits after income taxes..........................

Cash dividends declared and interest paid on 

capital:

Interest paid on capital notes and debentures and

dividends declared on preferred stock 8 ...........

Dividends declared on common capital8 ...........

Total cash dividends declared and interest 

paid on capital.........................................

Net profits after dividends..................

Other additions to capital account:

Preferred capital sold (par or face value).........

Common capital sold (par or face value)..........

Premiums on new capital sold............................

Deposits waived and subordinated....................

Assessments and other contributions................

Total other additions to capital account8

Other deductions from capital account: 

Preferred capital retired (par or face value) .... 

Common capital retired (par or face value) .. . .

Premiums on preferred capital retired...............

Payments on subordinated claims.....................

Total other d e d u c tio n s from capital 

account8

Net change in total capital account for period8

Total capital account at beginning of year9...............

Total capital account at end of year8 ........................

Average of assets and liabilities:1

ASSETS8

Cash and due from banks..................................

Securities.............................................................

Loans. .................................................................

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

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

LIABILITIES AND CAPITAL8

Demand deposits.........................................

Time deposits...............................................

Total deposits........................................

Miscellaneous liabilities...............................

Total capital account..................................

Total liabilities and capital account.

(7)

(?)

-114,718

13,929

-128,647

(7)

(7)

-4,962

20,473

-25,435

60,522

2,442

58,080

7,205

17,311

24,516

33,564

4,022

2,670

2,982

287

2,713

12,674

16,645

594

29

5,087

22,355

23,883

1,019,078

1,042,961

1,567,381

2,439,957

2,497,141

450,971

6,955,450

2,877,642

2,961,437

5,839,079

72,695

1,043,676

6,955,450

48,339

4,848

43,491

48,450

4,838

43,612

-1 1 1 $0.87

.04

$0 .6 6

10 .07

-1 2 1 $-1 .8 6 $-0.08 .83 .59

6,227

18,196

24,423

6,218

18,155

24,373

9 $0.10

.25

$0.09

.2441

50 $0.23 $0.31 .35 .33

19,068 19,239 -171 $-2.09 $-0.39 $0.48 $0.26

1,474

3,953

2,810

90

1,366

3,762

2,778

90

108 $0.06

.04

$0.02

.06191

32 .04 .04

.00

1,768

10,095

1,746

9,742

22 .04 .02

353 .18 .14

15,040

467

14,994

462

46 $0.24

.01

$0.21

5 .01

253 253 .00

3,897

19,657

3,890

19,599

7 .07 .05

58 .32 .27

9,506 9,382 124 $0.34 $0.13

1,013,822

H,023,328

1,006,927

1,016,309

6,895

7,019

14-65

14.99

13.87

1 4 ‘00

1,612,757

2,645,720

2,640,610

409,559

7.308.646

3,064,795

3,159,695

6,224,490

60,068

1,024,088

7.308.646

1,597,382

2,631,770

2,622,995

407,445

7.259.592

3,036,855

3,145,623

6,182,478

59,967

1,017,147

7.259.592

15,375

13,950

17,615

2,114

49,054

27,940

14,072

42,012

101

$22.53

35.08

$22.07

36.20

35.90 36.13

6.49 5.60

100.00 100.00

$41.37

42.58

$41.93

43.24

83.95 85.17

1.05 .82

6,941 15.00 14.01

49,054 100.00 100.00

‘Averages of figures for beginning, middle, and end of year for 1934, 1935, and 1937; averages of end-of-month figures for 1936.

2Figures were revised by the transfer of “ depreciation on banking house, furniture and fixtures,” from the category of loss or charge-off to that of current operating expense. 

3Excludes banks as follows: 25 for 1934; 16 for 1935; 17 for 1936; and 14 for 1937. 

includes “ income taxes” .

5“ Depreciation on banking house, furniture and fixtures” only, 

included with recoveries.

7Not available. See footnote 4.

8Amounts not reported in 1934 and 1935.

9Figure does not agree with that shown in Assets and Liabilities of Operating Insured Banks, December SI, 1937, Report No. 8 due to changes made subsequent to the 

tabulation of the call report.

NOTE: Minus (-) indicates net loss.

4^CREARNINGS OF INSURED COMMERCIAL BANKS

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Federal Reserve Bank of St. Louis
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS

T a b le 135. EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

Federal R eserve System, Calendar Y ear 1937

All

Banks with average deposits of— 1

banks $1 00 ,00 0

and

under

$1 00,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$10,0 00,000

$10,000,000

to

$50,000,000

Over

$50,000,000

Number of banks.......................................... 7,351 582 2,123 2,046 1,334 763 362 81 55 5

Current operating earnings:

Interest and discount on loans............................. 155,287 2,169 13,669 22,013

(In thous 

26,240

ands of dolla 

26,790

irs)

23,979 13,357 19,053 8,017

Interest and dividends on securities................... 90,467 325 4,154 9,606 13,649 16,063 16,708 7,905 15,436 6,621

Commissions, fees, and collection, exchange, and 

service charges.................................................. 32,875 638 3,509 5,245 5,618 5,300 4,496 2,436 4,698 935

Other current operating earnings........................ 29,994 143 890 1,679 2,527 3,643 4,652 4,003 10,865 1,592

Gross current operating earnings............. 308,623 3,275 2 2,2 22 38,543 48,034 51,796 49,835 27,701 50,052 17,165

Current operating expenses:

Interest on time and savings deposits................. 60,373 264 2 ,8 8 6 6,561 9,163 10,741 11,148 5,520 8,733 5,357

Tnforoaf* qhH rlianrmnf ati hnrrnwin(Ml 757 11 42 50 103 140 94 18 299

Salaries, wages, and fees...................................... 83,189 1,172 7,046 11,063 12,821 13,389 1 2,6 68 7,386 14,105 3,539

Taxes (other than on income)............................. 16,328 182 1,114 1,831 2,363 2,773 2,797 1,725 3,044 499

Other expenses of occupancy and maintenance of 

jte banking quarters.............................................. 14,444 154 907 1,545 1,905 2,235 2,115 1,254 3,445 884

Other current operating expenses........................ 44,703 617 3,617 5,701 7,002 7,193 7,006 4,202 7,321 2,044

Total current operating expenses.............. 219,794 2,400 15,612 26,751 33,357 36,471 35,828 20,105 36,947 12,323

Net current operating earnings......................... 88,829 875 6,610 11,792 14,677 15,325 14,007 7,596 13,105 4,842

Profits on assets sold or exchanged, recoveries 

and reductions in valuation allowances: 

Profits on securities sold or exchanged............... 18,206 42 672 1,534 2,540 3,009 3,616 2,085 3,552 1,156

Profits on other assets sold or exchanged........... 2,072 9 146 2 10 262 348 392 143 425 137

Recoveries and reductions in valuation allowances on loans................................................... 14,251 173 1,179 1,715 1,794 2,024 1,840 1,0 1 1 3,758 757

Recoveries and reductions in valuation allowances on securities............................................ 7,556 36 340 658 1,056 1,592 1,528 652 1,463 231

All other recoveries and reductions in valuation 

allowances......................................................... 10,260 66 383 664 873 982 1,256 1,047 3,674 1,315

Total profits on assets sold, recoveries, etc. 52,345 326 2,720 4,781 6,525 7,955 8,632 4,938 12,872 3,596

Net earnings, profits and recoveries on assets,

141,174 1,201 9,330 16,573 2 1,2 02 23,280 22,639 12,534 25,977 8,438

Losses, charge-offs, and additions to valuation 

allowances:

On loans................................................................ 36,358 486 2,602 3,837 4,701 4,639 5,769 3,945 8,040 2,339

On securities......................................................... 28,331 90 1,126 2,735 4,144 5,492 5,350 2,775 5,896 723

All other losses, charge-offs, and additions to 

valuation allowances........................................ 28,035 249 1,635 2,364 3,279 3,858 4,381 2,698 6,031 3,540

Total losses, charge-offs, etc....................... 92,724 825 5,363 8,936 12,124 13,989 15,500 9,418 19,967 6,602

146 FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Gash dividends declared and interest paid on 

capital:

Interest paid on capital notes and debentures and

dividends declared on preferred stock.............

Dividends declared on common capital..............

Total cash dividends declared and interest 

paid on capital...........................................

Net profits after dividends.................................

Other additions to capital account:

Preferred capital sold (par or face value)...........

Common capital sold (par or face value)...........

Premiums on new capital sold............................

Deposits waived and subordinated.....................

Assessments and other contributions..................

Total other additions to capital account.

Other deductions from capital account: 

Preferred capital retired (par or face value). . . .

Common capital retired (par or face value).......

Premiums on preferred capital retired................

Payments on subordinated claims......................

Total other deductions from capital 

account.......................................................

Net change in total capital account for period.

Total capital account* December 31, 1936...............

Total capital account, December 81, 1937...............

Average of assets and liabilities :l

ASSETS

Cash and due from banks....................................

Securities..............................................................

Loans....................................................................

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

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

LIABILITIES AND CAPITAL

Demand deposits..................................................

Time deposits.......................................................

Total deposits................................................

Miscellaneous liabilities.................................

Total capital account...........................................

Total liabilities and capital account.........

Net profits before income taxes and dividends

Income taxes, Federal and State......................

Net profits after income taxes...........................

48,450

4,838

43,612

376

55

321

3,967

403

3,564

| 7,637

707

6,930

9,078

901

8,177

9,291

786

8,505

! 7,139

' 549 

1 6,590

3,116

330

2,786

6 ,0 1 0

719

5,291

1,836

388

1,448

6,218

18,155

61

159

385

1,354

614

2,339

848

2,790

1 ,1 2 2

2,562

1,300

2,725

606

1,674

895

3,546

387

1,006

24,373 2 20 1,739 2,953 3,638 3,684 4,025 2,280 4,441 1,393

19,239 101 1,825 3,977 4,539 4,821 i 2,565 506 850 55

1,366 29 88 94 238 335 362 20 200 3,762

2,778

90

6 123

19

204

31

501

126

90

489

358

528

494

346

159

1,065

891

500

700

1,746 68 245 369 380 148 174 si 281 9,742 103 475 698 1,335 1,330 1,558 606 2,437 1,200

14,994

462

58 863

120

1,716

98

1,964

90

2,800

151

2,564

3

889 1,682 2,458

253 10 2 181 35 5 20 3,890 15 316 694 852 971 689 353

19,599 73 1,309 2,510 3,087 3,957 3,261 1,242 1,702 2,458

9,382 131 991 2,165 2,787 2,194 862 -130 1,585 -1,203

1,006,927

1,016,809

14,81*8

14,479

78,895

79,886

116,864

119,029

147,689

150,476

165,989

168,183

178,05k

178,916

89,91*8

89,818

166,952

168,537

48,188

46,985

1,597,382

2,631,770

2,622,995

407,445

7,259,592

17,215

8,976

26,634

3,477

56,302

125,334

113,834

187,992

19,301

446,461

226,781

264,078

330,115

30,983

851,957

261,973

375,920

409,957

45,872

1,093,722

279,977

447,907

451,451

61,314

1,240,649

250,157

494,172

432,389

72,678

1,249,396

130,674

238,934

230,244

47,b03

647,355

232,661

468,303

382,928

104,257

1,188,149

72,610

219,646

171,285

22,060

485,601

3,036,855

3,145,623

6,182,478

59,967

1,017,147

7,259,592

30,078

11,598

41,676

291

14,335

56,302

233,222

132,019

365,^41

1,958

79,262

446,461

422,960

308,328

731,288

2,706

117,963

851,957

488,687

448,043

936,730

7,153

149,839

1,093,722

520,364

543,261

1,063,625

9,165

167,859

1,240,649

474,937

587,189

1,062,126

7,863

179,407

1,249,396

255,885

292,406

548,291

8,954

90,110

647,355

491,076

506,626

997,702

20,193

170,254

1,188,149

119,646

316,153

435,799

1,684

48,118

485,601

^sset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937. 

NOTE: Minus (-) indicates net decrease in total capital account.

Back figures—See the following Annual Reports: 1936, p. 168; 1935, p. 216; 1934, p. 236.

EARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS £

T a b le 136. AVERAGES PER BANK OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT

M em bers of the F ederal R eserve System , Calen d ar Y e a r 1937

All

banks

Banks with average deposits of— 1

$100,000

and

under

$100,000

to

$250,000

$250,000

to

$500,000

$500,000

to

$1 ,0 0 0 ,0 0 0

$1 ,0 0 0 ,0 0 0

to

$2 ,0 0 0 ,0 0 0

$2,000,0001 $5,000,000 

to to 

$5,000,0001$10,000,000

$1 0 ,000 ,00 0

to

$50,000,000

Over

$50,000,000

(2)

Number of banks.......................................... 7,351 582 2,123 2,046 1,334 763 362 81 55 5

Current operating earnings:

Interest and discount on loans............................ $21,125 $3,727 $6,438 $10,759 $19,670 $35,111 $66,240 $164,901 $346,418 $1,603,400

Interest and dividends on securities................... 12,307 558 1,957 4,695 10,232 21,053 46,155 97,593 280,655 1,324,200

Commissions, fees, and collection, exchange, and 

service charges.................................................. 4,472 1,096 1,653 2,563 4,211 6,946 12.420 30,074 85,418 187,000

Other current operating earnings........................ 4,080 246 419 821 1,894 4,774 12,850 49,420 197,545 318,400

Gross current operating earnings............. 41,984 5,627 10,467 18,838 36,007 67,884 137,665 341,988 910,036 3,433,000

Current operating expenses:

Interest on time and savings deposits................. $8,213 $454 $1,359 $3,207 $6,869 $14,077 $30,796 $68,148 $158,782 $1,071,400

Interest and discount on borrowings................. 103 19 20 24 77 183 260 2 22 5,436

Salaries, wages, and fees...................................... 11,317 2,014 3,319 5,407 9,611 17,548 34,994 91,185 256,455 707,800

Taxes (other than on income)............................. 2,221 313 525 895 1,771 3,634 7,727 21,296 55,345 99,800

Other expenses of occupancy and maintenance of 

banking quarters............................................... 1,965 265 427 755 1,428 2,929 5,842 15,482 62,636 176,800

Other current operating expenses........................ 6,081 1,059 1,704 2,787 5,249 9,428 19,353 51,877 133,109 408,800

Total current operating expenses.............. 29,900 4,124 7,354 13,075 25,005 47,799 98,9/2 248,210 671,763 2,464,600

Net current operating earnings......................... $12,084 $1,503 $3,113 $5,763 $1 1,0 02 $20,085 $38,693 $93,778 $238,273 $968,400

Profits on assets sold or exchanged, recoveries 

and reductions in valuation allowances: 

Profits on securities sold or exchanged............... $2,477 $72 $317 $750 $1,904 $3,944 $9,989 $25,741 $64,582 $231,200

Profits on other assets sold or exchanged........... 282 15 69 103 196 456 1,083 1,765 7,727 27,400

Recoveries and reductions in valuation allowances on loans................................................... 1,939 297 555 838 1,345 2,653 5,083 12,481 68,327 151,400

Recoveries and reductions in valuation allowances on securities............................................ 1,028 62 160 322 792 2,087 4,221 8,049 26,600 46,200

All other recoveries and reductions in valuation 

allowances......................................................... 1,395 114 180 324 654 1,286 3,469 12,927 66,800 263,000

Total profits on assets sold, recoveries, etc. 7,121 560 1,281 2,337 4,891 10,426 23,845 60,963 234,036 719,200

Net earnings, profits and recoveries on assets, 

etc..................................................................... $19,205 $2,063 $4,394 $8 ,1 0 0 $15,893 $30,511 $62,538 $154,741 $472,309 $1,687,600

Losses, charge-offs, and additions to valuation 

allowances:

On loans................................................................ $4,946 $835 $1,226 $1,875 $3,524 $6,080 $15,936 $48,704 $146,182 $467,800

On securities......................................................... 3,854 155 530 1,337 3,106 7,198 14,779 34,259 107,200 144,600

All other losses, charge-offs, and additions to 

valuation allowances....................................... 3,814 427 770 1,156 2,458 5,056 12,103 33,309 109,654 708,000

Total losses, charge-offs, etc....................... 12,614 1,417 2,526 4,368 9,088 18,334 42,818 116,272 363,036 1,320,400

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Cash dividends declared and interest paid on 

capital:

Interest paid on capital notes and debentures and 

dividends declared on preferred stock...

Dividends declared on common capital..............

Total cash dividends declared and interest 

paid on capital...........................................

Net profits after dividends...................

Other additions to capital account:

Preferred capital sold (par or face value)...........

Common capital sold (par or face value)...........

Premiums on new capital sold.............................

Deposits waived and subordinated.....................

Assessments and other contributions..................

Total other additions to capital account.

Other deductions from capital account: 

Preferred capital retired (par or face value). . . .

Common capital retired (par or face value).......

Premiums on preferred capital retired................

Payments on subordinated claims......................

Total other deductions from capital 

account........................................................

Net change in total capital account for period.

Total capital account, December 81, 1986...............

Total capital account, December 31, 1937...............

Average of assets and liabilities:1

ASSETS

Cash and due from banks....................................

Securities..............................................................

Loans....................................................................

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

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

LIABILITIES AND CAPITAL

Demand deposits..................................................

Time deposits.......................................................

Total deposits.................................................

Miscellaneous liabilities.......................................

Total capital account...........................................

Total liabilities and capital account.........

Net profits before Income taxes and dividends

Income taxes, Federal and State.................

Net profits after income taxes......................

$6,591

658

5,933

$646

95

551

$1,8 6 8 i 190 

1,678

$3,732 

| 345 

1 3,387

$6,805 

675 ! 6,130 j

$12,177 

1 1,030 

11,147

; $19,720

1,516

18,204

$38,469

4,074

34,395

$109,273

13,073

96,200

$367,200

77,600

289,600

$846

2,470

§106

272

i

J

$181 

638 1

i

$300 

| 1,143

!

$636

2,091

$1,470 

3,358 |

i

$3,591 

| 7,528

i

$7,481

20,667

$16,273

64,473

$77,400

2 0 1 ,2 0 0

3,316 378 819 | 1,443 2,727 4,828 j 11,119 28,148 80,746 278,600

$2,617 $173 $859 $1,944 $3,403 $6,319 $7,085 $6,247 $15,454 $11,0 00

$186 $50 $41 $46 $178 $439 $1 ,0 0 0 $247

4,271

1,963

$3,636

19,364

16,200

512

378

10 58

9

100

15

376

94

67

641

469

1,459

1,365

$100 ,00 0

140,000

12

237 117 116 180 285 i94 480 1 ,0 0 0

7,481

5,109 1,325 177 224 341 1 ,0 0 0 1,743 4,304 44,309 240,000

$2,040

63

$100 $407

57

$839

48

$1,472

67

$3,670

198

$7,082

8

$10,975 $30,582 $491,600

34 5 1 136 46 14 363 529 25 147 339 639 1,272 1,904

9,008

4,358

2 ,6 6 6 125 616 1,227 2,314 5,186 15,333 30,945 491,600

$1,276 $225 $467 $1,058 $2,089 $2,876 $2,381 $-1,605 $28,818 $-240,600

136,978

138,254

24,653

24,878

37,162

37,629

57,118

58,176

110,711

112,800

217,547

220,428

491,862

494,243

1,110,469

1,108,864

8,035,491

8,064,309

9,687,600

9,897,000

$217,301

358,016

356,822

55,427

987,566

$29,579

15,423

45,763

5,974

96,739

$59,036

53,620

88,550

9,091

210,297

$110,841

129,070

161,347

15,143

416,401

$196,381

281,799

307,314

34,387

819,881

$366,942

587,034

591,679

80,359

1,626,014

$691,041

1,365,116

1,194,445

200,768

3,451,370

$1,613,259

2,949,802

2,842,519

586,457

7,992,037

$4,230,200

8,514,600

6,962,327

1,895,582

21,602,709

$14,522,000

43.929.200 

34,257,000

4,412,000

97.120.200

$413,122

427,918

841,040

8,158

138,368

987,566

$51,680

19,928

71,608

500

24,631

96,739

$109,855

62,185

172,040

922

37,335

210,297

$206,725

150,698

357,423

1,323

57,655

416,401

$366,332

335,864

702,196

5,362

112,323

819,881

$681,997

712,006

1,394,003

1 2,0 12

219,999

1,626,014

$1,311,981

1,622,069

2,934,050

21,721

495,599

3,451,370

$3,159,074

3,609,951

6,769,025

110,543

1,112,469

7,992,037

$8,928,655

9,211,382

18,140,037

367,145

3,095,527

21,602,709

$23,929,200

63.230.600 

87,159,800

336,800

9.623.600 

97,120,200

JAsset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.

^Because of the small number of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. 

NOTE: Minus (—) indicates net decrease in total capital account.

Back figures—See the following Annual Reports: 1936, p. 170; 1935, p. 218 (revised); 1934, p. 238.

SOEARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 137. R atio s OP EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS

of the F ederal R eserve System, Calen d a r Y e a r 1937

BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED BY AMOUNT OF DEPOSITS

Banks with average deposits of— 1

All

banks $1 0 0 ,0 0 0

and

under

$100 ,00 0

to

$250,000

$250,000

to

$500,000

$500,000

to

$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

$10 ,00 0 ,0 0 0

$10,0 0 0 ,0 0 0

to

$50,000,000

Over

$50,000,000

(*)

Number of banks.......................................... 7,351 582 2,123 2,046 1,334 763 362 81 55 5

Amounts per $100 of gross earnings 

Current operating earnings:

Interest and discount on loans............................ $50.32 $66.23 $61.51 $57.11 $54.63 $51.72 $48.12 $48.22 $38.07 $46.71 Interest and dividends on securities.................... 29.31 9.92 18.69 24.92 28.42 31.01 33.53 28.54 30.84 38.57 Commissions, fees, and collection, exchange, and 

service charges.................................................. 10.65 19.48 15.79 13.61 11.69 10.23 9.02 8.79 9.39 5.45 Other current operating earnings......................... 9.72 4.37 4.01 4.36 5.26 7.04 9.33 14.45 21.70 9.27 Gross current operating earnings.............. 1 00 .00 1 00 .00 100.00 1 0 0 .0 0 1 0 0 .0 0 1 0 0 .0 0 1 00 .00 1 0 0 .0 0 1 0 0 .0 0 1 00 .00

Current operating expenses:

Interest on time and savings deposits................. $19.56 $8.06 $12.99 $17.02 $19.08 $20.74 $22.37 $19.93 $17.45 $31.21 Interest and discount on borrowings................... .25 .34 .19 .13 .21 .27 .19 .06 .60 Salaries, wages, and fees...................................... 26.95 35.78 31.71 28.70 26.69 25.85 25.42 26.66 28.18 20.62 Taxes (other than on income)............................. 5.29 5.56 5.01 4.75 4.92 5.35 5.61 6.23 6.08 2.91 Other expenses of occupancy and maintenance of

banking quarters............................................... 4.68 4.70 4.08 4.01 3.97 4.31 4.24 4.53 6 .8 8 5.15 Other current operating expenses........................ 14.49 18.84 16.27 14.79 14.58 13.89 14.06 15.17 14.63 11.90 Total current operating expenses.............. 71.22 73.28 70.25 69.40 69.45 70.41 71.89 72.58 73.82 71.79

Net current operating earnings......................... $28.78 $26.72 $29.75 $30.60 $30.55 $29.59 $28.11 $27.42 $26.18 $28.21

Amounts per $100 of total assets1

Current operating earnings:

Interest and discount on loans............................ $2.14 $3.85 $3.06 $2.58 $2.40 $2.16 $1.92 $2.06 $1.60 $1.65 Interest and dividends on securities.................... 1.25 .58 .93 1.13 1.25 1.29 1.34 1.22 1.30 1.36 Commissions, fees, and collection, exchange, and

service charges.................................................. .45 1.13 .79 .62 .51 .43 .36 .38 .40 .19 Other current operating earnings........................ .41 .26 .20 .19 .23 .29 .37 .62 .91 .33 Gross current operating earnings............. 4.25 5.82 4.98 4.52 4.39 4.17 3.99 4.28 4.21 3.53

Current operating expenses:

Interest on time and savings deposits................. $0.83 $0.47 $0.65 $0.77 $0.84 $0.87 $0.89 $0.85 $0.73 $1.10 Interest and discount on borrowings................... .01 .02 .01 .01 .01 .01 .01 .00 .03 Salaries, wages, and fees...................................... 1.19 Taxes (other than on income).............................

1.15 2.08 1.58 1.30 1.17 1.08 1.0 1 1.14 .73

.22 .32 .25 .21 .22 .22 .22 .27 .26 .10 Other expenses of occupancy and maintenance of

banking quarters........... *.................................. .20 .27 .20 .18 .17 .18 .17 .19 .29 .18 Other current operating expenses........................ .62 1 .1 0 .81 .67 .64 .58 .57 .66 .61 .42 Total current operating expenses.............. 3.03 4.26 3.50 3.14 3.05 2.94 2.87 3.11 3.11 2.53

Net current operating earnings $1.2 2 $1.56 $1.48 $1.38 $1.34 $1.23 $1 .1 2 $1.17 $1 .1 0 $1.00

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc....................

Losses and depreciation on assets.......................

Net profits before incoir e taxes and dividends

Income taxes, Federal and State........................

Net profits after income taxes........................

Cash dividends declared......................................

Net profits after dividends. , ..........................

Other additions to total capital account.............

Other deductions from total capital account 

Net change in total capital account.. . . . . . .

Total capital account, December 31, 1936.............

Total capital account, December 31, 1937.............

$0.72

1.27

.67

.07

.60

.34

.26

.14

.27

.13

13.87

14.00

$0.58

1.47

.67

.10

.57

.39

.18

.18

.13

.23

25.^8

25.71

$0.61

1 .2 0

.89

.09

.80

.39

.41

.10

.29

.22

17.67

17.89

$0.56

1.05

.89

.08

.81

.34

.47

.08

.30

.25

13.72

13.97

$0.60

1.11

.83

.08

.75

.33

.42

.12

.28

.26

13.50

13.76

$0.64

1 .1 2

.75

.06

.69

.30

.39

.11

.32

.18

13.38

13.56

$0.69

1.24

.57

.04

.53

.32

.21

.12

.26

.07

14.25

14-32

$0.76

1.45

.48

.05

.43

.35

.08

.09

.19

- .0 2

13.89

13.87

$1.08

1 .68

.50

.06

.44

.37

.07

.20

.14

.13

14-05

14.18

$0.74

1.36

.38

.08

.30

.29

.01

.25

.51

-.25

9.92

9.67

Amounts per $ 10 0 of total capital 

account1

Net current operating earnings.....................

Recoveries, profits on securities, etc....................

Losses and depreciation on assets.......................

Net profits before income taxes and dividends

Income taxes, Federal and State........................

Net profits after income taxes........................

Cash dividends declared......................................

Net profits after dividends..............................

Other additions to total capital account.............

Other deductions from total capital account. . . . 

Net change in total capital account.............

$8.73

5.15

9.12

4.76

.47

4.29

2.40

1.89

.96

1.93

.92

$6 .1 0

2.27

5.75

2.62

.38

2.24

1.54

.70

.72

.51

.91

$8.34

3.43

6.77

5.00

.51

4.49

2.19

2.30

.60

1.65

1.25

$1 0.0 0

4.05

7.58

6.47

.60

5.87

2.50

3.37

.59

2 .1 2

1.84

$9.80

4.35

8.09

6.06

.60

5.46

2.43

3.03

.89

2.06

1 .8 6

$9.13

4.74

8.33

5.54

.47

5.07

2 .2 0

2.87

.79

2.35

1.31

$7.81

4.81 

8.64 

3.98

.31

3.67

2.24

1.43

.87

1.82 

.48

$8.43

5.48

10.45

3.46

.37

3.09

2.53

.56

.67

1.38

-.15

$7.70

7.56

11.73

3.53

.42

3.11

2.61

.50

1.43

1 .0 0

.93

$10.06

7.47

13.72

3.81

.80

3.01

2.89

.12

2.49

5.11

-2.50

Special ratios 

Interest and discount on loans per $ 10 0 of total

loans1.................................................................

Interest and dividends on securities per $ 100 of

total securities1.................................................

Profits on securities per $ 10 0 of total securities1.. 

Interest on time deposits per $100 of time deposits 

of individuals, partnerships, and corporations1

Losses on loans per $10 0 of total loans1..............

Losses on securities per $100 of total securities1.

$5.92

3.44

.69

1.92

1.39

1.08

$8.14

3.62

.47

2.28

1.82

1.0 0

$7.27

3.65

.59

2.19

1.38

.99

$6.67

8.64

.58

2.13

1.16

1.04

$6.40

3.63

.68

2.05

1.15

1 .1 0

$5.93

3.59

.67

1.98

1.03

1.23

$5.55

3.38

.73

1.90

1.33

1.08

$5.80

3.31

.87

1.89

1.71

1.16

$4.98

3.30

.76

1.72

2 .1 0

1.26

$4.68

3.01

.53

1.69

1.37

.33

Average of assets and liabilities per $100 of 

total assets:1

ASSETS

Cash and due from banks....................................

Securities..............................................................

Loans................................................................

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

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

$2 2.0 0

36.25

36.13

5.62

1 00.00

$30.58

15.94

47.31

6.17

1 00.00

$28.07

25.50

42.11

4.32

1 00 .00

$26.62

31.00

38.75

3.63

1 00 .00

$23.95

34.37

37.48

4.20

1 00 .00

$22.57

36.10

36.39

4.94

100 .00

$2 0 .0 2

39.55

34.61

5.82

1 00 .00

$20.19

36.91

35.57

7.33

1 00 .00

$19.58

39.41

32.23

8.78

1 00 .00

$14.95

45.23

35.27

4.55

100.00

LIABILITIES AND CAPITAL

Demand deposits..................................................

Time deposits.......................................................

Total deposits................................................

Miscellaneous liabilities.......................................

Total capital account..........................................

Total liabilities and capital account.........

$41.83 

43.33 

85.16 

.83 

14.01 

100.00 i

$53.42

20.60

74.02

.52

25.46

100.00

$52.24

29.57

81.81

.44

17.75

1 00 .00

$49.65

36.19

85.84 

.31

13.85 

1 00.00

$44.68

40.97

85.65

.65

13.70

1 00 .00

$41.94

43.79

85.73

.74

13.53

1 00 .00

$38.01

47.00

85.01 

.63

14.36

1 00.00

$39.53

45.17

84.70

1.38

13.92

1 00 .00

$41.33

42.64

83.97

1.70

14.33

1 00.00

$24.64

65.11

89.75

.34

9.91

100.00

JAsset and liability items are averages of figures for December 81, 1936, June 30, 1937, and December 81, 1937.

xTr\TM^Se e S/nla^ ?*urtl^er of banks, the figures for this group are not necessarily typical of banks with deposits of over $50,000,000. NOTE: Minus (-) indicates net decrease in total capital account.

Back figures—See the following Annual Reports: 1936, p. 172; 1935, p. 220; 1934, p. 240.

EARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO POPULATION OF CENTER IN WHICH LOCATED

(Amounts in thousands of dollars) ur

T a b le 138. EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

Federal Reserve System, Calender Y ear 1937

Banks in centers with population of—

banks Under

250

250

to

500

500

to

1 ,0 0 0

1 ,0 0 0

to

2,500

2,500

to

5,000

5.000 

to

1 0 .0 0 0

1 0,0 00

to

25,000

25.000 

to

50.000

50,000

and

over

Number of banks.......................................... 7,351 671 1,365 1,624 1,517 705 495 358 160 456

Current operating earnings:

Interest and discount on loans............................ 155,287 3,967 9,882 15,145 20,375 14,894 15,901 16,531 9,314 49,278

Interest and dividends on securities................... 90,467 1,330 3,864 7,160 10,541 9,271 9,455 11,290 5,969 31,587

Commissions, fees, and collection, exchange, and 

service charges.................................................. 32,875 661 1,922 3,330 4,784 3,353 2,946 3,172 1,445 11,262

Other current operating earnings......................... 29,994 146 527 992 1,901 1,705 2,244 2,774 1,754 17,951

Gross current operating earnings.............. 308,623 6,104 16,195 26,627 37,601 29,223 30,546 33,767 18,482 110,078

Current operating expenses:

Interest on time and savings deposits................. 60,373 1,208 3,018 4,993 6,910 5,620 6,158 7,397 4,046 21,023

Interest and discount on borrowings................... 757 9 18 34 37 60 14 12 38 535

Salaries, wages, and fees...................................... 83,189 1,774 4,644 7,449 10,186 7,677 7,881 8,392 4,485 30,701

Taxes (other than on income)............................. 16,328 236 712 1,236 1,968 1,452 1,794 1,870 1 ,0 2 0 6,040

Other expenses of occupancy and maintenance of 

banking quarters............................................... 14,444 214 520 1 ,0 0 2 1,309 1,127 1,175 1,570 797 6,730

Other current operating expenses........................ 44,703 899 2,483 3,849 5,463 4,113 4,281 4,789 2,541 16,285

Total current operating expenses.............. 219,794 4,340 11,395 18,563 25,873 20,049 21,303 24,030 12,927 81,314

Net current operating earnings......................... 88,829 1,764 4,800 8,064 11,728 9,174 9,243 9,737 5,555 28,764

Profits on assets sold or exchanged, recoveries 

and reductions in valuation allowances: 

Profits on securities sold or exchanged............... 18,206 242 687 1,184 1,765 1,630 1,673 2,435 1,118 7,472

Profits on other assets sold or exchanged........... 2,072 31 98 141 205 236 302 191 116 752

Recoveries and reductions in valuation allowances on loans................................................... 14,251 260 767 1,258 1,649 1,087 1,235 1,118 858 6,019

Recoveries and reductions in valuation allowances on securities............................................ 7,556 82 344 542 788 652 748 1,017 471 2,912

All other recoveries and reductions in valuation 

allowances......................................................... 10,260 107 222 520 708 469 535 737 460 6,502

Total profits on assets sold, recoveries, etc. 52,345 722 2,118 3,645 5,115 4,074 4,493 5,498 3,023 23,657

Net earnings, profits and recoveries on assets, 

etc..................................................................... 141,174 2,486 6,918 11,709 16,843 13,248 13,736 15,235 8,578 52,421

Losses, charge-offs, and additions to valuation 

allowances:

On loans................................................................ 36,358 629 1,752 2,812 3,631 2,906 2,723 4,314 1,903 15,688

On securities......................................................... 28,331 475 1,223 2,025 2,945 2,687 2,945 3,583 1,856 10,592

All other losses, charge-offs, and additions to 

valuation allowances......................................... 28,035 393 1,006 1,689 2 ,6 8 8 2,157 2,257 2,822 1,598 13,425

Total losses, charge-offs, etc....................... 92,724 1,497 3,981 6,526 9,264 7,750 7,925 10,719 5,357 39,705

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Cash dividends declared and interest paid on 

capital:

Interest paid on capital notes and debentures and

dividends declared on preferred stock.............

Dividends declared on common capital..............

Total cash dividends declared and interest 

paid on capital...........................................

Net profits after dividends..................................

Other additions to capital account:

Preferred capital sold (par or face value)...........

Common capital sold (par or face value)...........

Premiums on new capital sold.............................

Deposits waived and subordinated.....................

Assessments and other contributions..................

Total other additions to capital account.

Other deductions from capital account: 

Preferred capital retired (par or face value). . . .

Common capital retired (par or face value).......

Premiums on preferred capital retired................

Payments on subordinated claims......................

Total other deductions from capital 

account........................................................

Net change in total capital account for period.

Total capital account, December 81, 1986...............

Total capital account, December 31, 1937...............

Average of assets and liabilities:1

ASSETS

Cash and due from banks....................................

Securities..............................................................

Loans....................................................................

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

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

LIABILITIES AND CAPITAL

Demand deposits..................................................

Time deposits.......................................................

Total deposits.................................................

Miscellaneous liabilities.......................................

Total capital account...........................................

Total liabilities and capital account.........

Net profits before income taxes and dividends

Income taxes, Federal and State.......................

Net profits after income taxes............................

48,450

4,838

43,612

989

115

874

2,937

286

2,651

5,183

470

4,713

7,579

677

6,902

5,498

453

5,045

5,811

449

5,362

4,516

390

4,126

3,221

225

2,996

12,716

1,773

10,943

6,218

18,155

99

287

319

858

415

1,536

734

2,301

590

1,731

699

1,936

738

1,802

497

892

2,127

6,812

24,373 386 1,177 1,951 3,035 2,321 2,635 2,540 1,389 8,939

19,239 488 1,474 2,762 3,867 2,724 2,727 1,586 1,607 2,004

1,366

3,762

2,778

90

18

12

2

80

103

5

45

134

18

130

230

105

270

178

287

228

224

3

10

365

566

626

15

318

82

215

1,997

1,650

80

514

4,456

1,746

9,742

37

69

160

348

269

466

353

818

223

958

132

597

36

1,593

22

437

14,994

462

146 715

36

1,170

140

1,643

81

1,446

52

1,369 2,227 833

50

5,445

103 253 10 40 102

547

56

202

23

404

2

698

20

3,890 77 268 591 674 429

19,599 223 1,019 1,911 2,438 2,147 1,627 2,654 1,583 5,997

9,382 334 803 1,317 2,247 1,535 1,697 525 461 463

1,006,927

1,016,309

21,289

21,573 5 4 MU

55,047

84,586

85,908

115,757

118,004

91,824

92,859

101,765

108,462

111,837

112,862

64,647

65,108

861,528

861,991

1,597,382

2,631,770

2,622,995

407,445

7,259,592

34,457

37,472

60,922

4,335

137,186

89,678

105,889

147,597

12,372

355,536

151,627

195,514

231,014

21,003

599,158

225,293

291,306

315,181

33,193

864,973

169,172

250,960

244,817

31,184

696,133

172,189

264,596

260,744

37,541

735,070

176,525

328,058

290,602

48,656

843,841

97,221

175,125

161,404

27,875

461,625

481,220

982,850

910,714

191,286

2,566,070

3,036,855

3,145,623

6,182,478

59,967

1,017,147

7,259,592

60,034

55,577

115,611

272

21,303

137,186

162,573

137,662

300,235

793

54,508

355,536

279,506

232,853

512,359

1,602

85,197

599,158

415,626

329,769

745,395

2,241

117,337

864,973

325,286

275,252

600,538

2,902

92,693

696,133

322,162

307,634

629,796

2,209

103,065

735,070

355,354

372,397

727,751

3,400

112,690

843,841

177,997

215,102

393,099

3,419

65,107

461,625

938,317

1,219,377

2,157,694

43,129

365,247

2,566,070

^sset and liability items are averages of figures for December 31,1936, June 30, 1937, and December 31, 1937.

Back figures—See the Annual Report for 1936, p. 174.

EARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO POPULATION OP CENTER IN WHICH LOCATED

Table 139. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OP PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS

of the F ederal R eserve System, Calen dar Y ea r 1937

All

Banks in centers with population ofbanks Under

250

250

to

500

500

to

1 ,0 0 0

1 ,0 0 0

to

2,500

2,500

to

5,000

5.000 

to

1 0.0 00

1 0,0 00

to

25,000

25.000 

to

50.000

50,000

and

over

Number of banks.......................................... 7,351 671 1,365 1,624 1,517 705 495 358 160 456

Amounts per $100 of gross earnings 

Current operating earnings:

Interest and discount on loans............................

Interest and dividends on securities....................

Commissions, fees, and collection, exchange, and

service charges.................................................

Other current operating earnings........................

Gross current operating earnings..............

$50.32

29.31

10.65

9.72

1 00 .00

$64.99

21.79

10.83

2.39

100 .00

$61.02

23.86

11.87 

3.25

100.00

$56.88

26.89

12.51

3.72

1 00 .00

$54.19

28.03

12.72

5.06

100 .00

$50.97

31.73

11.47

5.83

1 00 .00

$52.06

30.95

9.64

7.35

1 0 0 .0 0

$48.96

33.44

9.39

8 .2 1

1 00 .00

$50.39

32.30

7.82

9.49

1 00 .00

$44.77

28.70

10.23

16.30

1 00 .00

Current operating expenses:

Interest on time and savings deposits.................

Inte.est and discount on borrowings...................

Salaries, wages, and fees......................................

Taxes (other than on income).............................

Other expenses of occupancy and maintenance of

banking quarters...............................................

Other current operating expenses........................

Total current operating expenses..............

$19.56

.25

26.95

5.29

4.68

14.49

71.22

$19.79

.15

29.06

3.87

3.51

14.72

71.10

$18.64

.11

28.67

4.40

3.21

15.33

70.36

$18.75

.13

27.97

4.64

3.76

14.46

69.71

$18.38

.10

27.09

5.23

3.48

14.53

68.81

$19.23

.21

26.27

4.97

3.86

14.07

68.61

$20.16

.05

25.80

5.87

3.85

14.01

69.74

$21.91

.04

24.85

5.54

4.65

14.17

71.16

$21.89

.21

24.27

5.52

4.31

13.74

69.94

$19.10

.49

27.89

5.49

6 .1 1

14.79

73.87

Net current operating earnings......................... $28.78 $28.90 $29.64 $30.29 $31.19 $31.39 $30.26 $28.84 $30.06 $26.13

Amounts per $100 of total assets1 

Current operating earnings:

Interest and discount on loans............................

Interest and dividends on securities....................

Commissions, fees, and collection, exchange, and

Other current operating earnings.........................

Gross current operating earnings..............

$2.14

1.25

.45

.41

4.25

$2.89

.97

.48

.11

4.45

$2.78

1.09

.54

.15

4.56

$2.53

1.20

.56

.16

4.45

$2.36

1 .2 2

.55

.22

4.35

$2.14

1.33

.48

.25

4.20

$2.16

1.29

.40

.31

4.16

$1.96

1.34

.37

.33

4.00

$2 .0 2

1.29

.31

.38

4.00

$1.92

1.23

.44

.70

4.29

Current operating expenses:

Interest and discount on borrowings...................

Salaries, wages, and fees......................................

Taxes (other than on income).............................

Other expenses of occupancy and maintenance of

Total current operating expenses..............

$0.83

.01

1.15

.22

.20

.62

3.03

$0 .8 8

.01

1.29

.17

.16

.65

3.16

$0.85

.01

1.31

.20

.15

.69

3.21

$0.83

,01

1.24

.21

.17

.64

3.10

$0.80

.00

1.18

.23

.15

.63

2.99

$0.81

.01

1 .1 0

.21

.16

.59

2 .8 8

$0.84

.00

1.07

.25

.16

.58

2.90

$0 .8 8

.00

.99

.22

.19

.57

2.85

$0 .8 8

.01

.97

.22

.17

.55

2.80

$0.82

.02

1 .2 0

.24

.26

.63

3.17

Net current operating earnings......................... $1 .2 2 $1.29 $1.35 $1.35 $1.36 $1.32 $1.26 $1.15 $1.20 $1.12

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc................

Losses and depreciation on assets..................

Net profits before income taxes and dividends

Income taxes, Federal and State.........................

Net profits after income taxes........................

Cash dividends declared......................................

Net profits after dividends..............................

Other additions to total capital account.............

Other deductions from total capital account. . . .

Net change in total capital account.............

Total capital account, December 81, 193ft.............

Total capital account, December 31, 1937.............

Amounts per $100 of total capital 

account1

Net current operating earnings ...................

Recoveries, profits on securities, etc....................

Losses and depreciation on assets.......................

Net profits before income taxes and dividends

Income taxes, Federal and State........................

Net profits after income taxes........................

Cash dividends declared......................................

Net profits after dividends..............................

Other additions to total capital account.............

Other deductions from total capital account.... 

Net change in total capital account.............

Special ratios 

Interest and discount on loans per $10C of total

loans1.................................................................

Interest and dividends on securities per $100 of

total securities1.................................................

Profits on securities per $100 of total securities1.. 

Interest on time deposits per $10 0 of time deposits 

of individuals, partnerships, and corporations1

Losses on loans per $100 of total loans1.............

Losses on securities per $100 of total securities1.

Average of assets and liabilities per $100 of 

total assets:1

ASSETS

Cash and due from banks....................................

Securities..............................................................

Loans....................................................................

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

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

LIABILITIES AND CAPITAL

Demand deposits.................................................

Time deposits.......................................................

Total deposits................................................

Miscellaneous liabilities.......................................

Total capital account..........................................

Total liabilities and capital account.........

$0.72

1.27

.67

.07

.60

.34

.26

.13

.26

.13

18.87

14.00

$8.73

5.15

9.12

4.76

.47

4.29

2.40

1.89

.96

1.93

.92

$5.92

3.44

.69

1.92

1.39

1.08

$22.00

36.25

36.13

5.62 100.00

$41.83

43.33

85.16

.83

14.01 100.00

$0.52

1.09

.72

.08

.64

.28

.36

.05

.16

.25

15.48

15.73

$8.28

3.39

7.03 

4.64

.54

4.10

1.81

2.29

.32

1.04 

1.57

$6.51

3.55

.65

2.17

1.03

1.27

$25.12

27.31

44.41

3.16

100.00

$43.76

40.51

84.27

.20

15.53 100.00

$0.60

1.12

.83

.08

.75

.33

.42

.09

.28

.23

15.25

15.48

$8.80

3.89

7.30

5.39

.53

4.86 

2.16 

2.70

.64

1.87 

1.47

$6.70

3.65

.65

2.19

1.19 

1.15

$25.22

29.78

41.51

3.49

100.00

$45.73

38.72

84.45

.22

15.33 100.00

$0.61

1.09

.87

.08

.79

.33

.46

.08

.32

.22

14.12

14.84

$9.46

4.28 

7.66 

6.08

.55

5.53

2.29

3.24 

.55

2.24 

1.55

$6.56

3.66

.61

2.14

1.22

1.04

$25.31

32.63

38.56

3.50 100.00

$46.65

38.86

85.51

.27

14.22 100.00

$0.59

1.07

.8 8

.08

.80

.35

.45

.09

.28

.26

18.88

18.64

$10.00

4.36

7.90 

6.46

.58

5.88

2.59

3.29

.70

2.08

1.91

$6.46

3.62

.61

2 .1 0

1.15

1 .0 1

$26.05

33.68

36.44

3.83

100.00

$48.05

38.12

86.17

.26

13.57 100.00

$0.58

1.11

.79

.07

.72

.33

.39

.14

.31

.22

13.12

13.34

$9.89

4.40

8.36

5.93 

.49

5.44

2.50

2.94 

1.04 

2.32 

1 .6 6

$6.08

3.69

.65

2.04

1.19

1.07

$24.30

36.05

35.17

4.48

100.00

$46.73

39.54

86.27

.42

13.31

100.00

$0.61

1.08

.79

.06

.73

.36

.37

.08

.22

.23

18.84

14.07

$8.97

4.36

7.69

5.64 

.44

5.20

2.55

2.65 

.58

1.58

1.65

$6 .1 0

3.57

.63

2 .0 0

1.04

1 .1 1

$23.42

36.00

35.47

5.11 100.00

$43.83

41.85

85.68

.30

14.02

100.00

$0.65

1.27

.53

.04

.49

.30

.19

.19

.31

.07

18.25

18.32

$8.64

4.88

9.51

4.01

.35

3.66

2.25

1.41

1.41 

2.36

.46

$5.69

3.44

.74

1.99

1.48

1.09

$20.92

38.87

34.44

5.77 100.00

$42.11

44.13

86.24

.40

13.36 100.00

$0.65

1.15

.70

.05

.65

.30

.35

.09

.34

.10

14.00

14.10

$8.54

4.64

8.23

4.95

.35

4.60

2.13

2.47

.67

2.43

.71

$5.77

3.41

.64

1.88

1.18

1.06

$21.06

37.94

34.96

6.04 100.00

$38.56

46.60

85.16

.74

14.10 100.00

$0.92

1.54

.50

.07

.43

.35

.08

.17

.23

.02

14.09

14.11

$7.88

6.48 

10.87

3.49 

.49

3.00

2.45

.55

1.22

1.64

.13

$5.41

3.21

.76

1.72

1.72 

1.08

$18.75

38.31

35.49

7.45 100.00

$36.57

47.52

84.09

1.68

14.23

100.00

JAsset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937.

Back figures—See the Annual Report for 1936, p. 176.

EARNINGS OF INSURED COMMERCIAL BANKS 155

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS ON TOTAL ASSETS

T a b le 14 0. EARNTNGS, EXPENSES, AND DISPOSITION OP PROFITS OP INSURED COMMERCIAL BANKS NOT MEMBERS OP THE

F ederal R eserve System, Calen dar Y e a r 1937

All

Banks with net current 

operating deficits per 

$100 of total assets of- 1

Banks with net current operating earnings per $100 of total assets of — 1

banks

$0.50 

and over

Less than 

$0.50

Less than 

$0.50

$0.50 

to $0.99

$1 .0 0 

to $1.49

$1.50 

to $1.99

$2 .0 0 

to $2.49

$2.50 

to $2.99

$3.00 

and over

Number of banks.......................................... 7,351 42 74 528 1,655 2,303 1,544 665 294 246

Current operating earnings:

Interest and discount on loans............................ 155,287 431 947

(li

8,978

l thousands 

32,596

of dollars) 

55,786 29,557 14,367 4,553 8,072

Interest and dividends on securities................... 90,467 286 908 6,478 23,256 36,282 15,852 4,800 1,860 745

Commissions, fees, and collection, exchange, and 

service charges.................................................. 32,875 125 391 2,298 5,789 10,795 6,845 2,916 1,840 1,876

Other current operating earnings........................ 29,994 201 306 3,215 10,974 8,777 3,195 1,879 755 692

Gross current operating earnings............. 308,623 1,043 2,552 20,969 72,615 111,640 55,449 23,962 9,008 11,385

Current operating expenses:

Interest on time and savings deposits................. 60,373 314 548 4,460 15,646 24,882 9,236 3,309 856 1,122

Interest and discount on borrowings................... 757 12 46 15 401 112 46 53 14 58

Salaries, wages, and fees...................................... 83,189 505 1,016 7,200 21,864 27,481 13,844 5,993 2,361 2,925

Taxes (other than on income)............................. 16,328 101 196 1,542 4,610 5,623 2,567 927 364 398

Other expenses of occupancy and maintenance of 

banking quarters............................................... 14,444 111 264 1,819 4,147 4,282 2,099 882 319 521

Other current operating expenses........................ 44,703 255 581 3,781 11,508 15,211 7,362 3,246 1,153 1,606

Total current operating expenses.............. 219,794 1,298 2,651 18,817 58,176 77,591 35,154 14,410 5,067 6,630

Net current operating earnings......................... 88,829 -255 -99 2,152 14,439 34,049 20,295 9,552 3,941 4,755

Profits on assets sold or exchanged, recoveries 

and reductions in valuation allowances: 

Profits on securities sold or exchanged............... 18,206 188 248 1,893 5,022 6,661 2,867 964 243 120

Profits on other assets sold or exchanged........... 2,072 30 24 165 582 819 318 93 22 19

Recoveries and reductions in valuation allowances on loans................................................... 14,251 43 180 2,018 3,353 4,261 2,335 1,162 357 542

Recoveries and reductions in valuation allowances on securities............................................ 7,556 75 66 471 2,087 2,799 1,303 611 91 53

AU other recoveries and reductions in valuation 

allowances......................................................... 10.260 74 41 759 3,906 3,479 1,104 652 160 85

Total profits on assets sold, recoveries, etc. 52,345 410 559 5,306 14,950 18,019 7,927 3,482 873 819

Net earnings, profits and recoveries on assets, 

etc..................................................................... 141,174 155 460 7,458 29,389 52,068 28,222 13,034 4,814 5,574

Losses, charge-offs, and additions to valuation 

allowances:

On loans................................................................ 36,358 74 741 3,067 10,885 11,601 5,503 2,635 661 1,191

On securities......................................................... 28,331 128 205 1,907 8,230 9,534 5,413 2,153 547 214

All other losses, charge-offs, and additions to 

valuation allowances........................................ 28,035 128 660 3,474 7,098 8,448 4,239 2,032 1,185 771

Total losses, charge-offs, etc....................... 92,724 330 1,606 8,448 26,213 29,583 15,155 6,820 2,393 2,176

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Gash dividends declared and interest paid on 

capital:

Interest paid on capital notes and debentures and

dividends declared on preferred stock.............

Dividends declared on common capital..............

Total cash dividends declared and interest 

paid on capital...........................................

Net profits after dividends...................

Other additions to capital account:

Preferred capital sold (par or face value)...........

Common capital sold (par or face value)...........

Premiums on new capital sold............................

Deposits waived and subordinated.....................

Assessments and other contributions................

Total other additions to capital account.

Other deductions from capital account: 

Preferred capital retired (par or face value). . . .

Common capital retired (par or face value).......

Premiums on preferred capital retired................

Payments on subordinated claims......................

Total other deductions from capital 

account........................................................

Net change in total capital account for period.

Total capital account, December 81, 1936...............

Total capital account, December 81, 1937...............

Average of assets and liabilities: 1

ASSETS

Cash and due from banks....................................

Securities..............................................................

Loans....................................................................

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

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

LIABILITIES AND CAPITAL

Demand deposits..................................................

Time deposits.......................................................

Total deposits................................................

Miscellaneous liabilities.......................................

Total capital account...........................................

Total liabilities and capital account.........

Net profits before income taxes and dividends

Income taxes, Federal and State......................

Net profits after income taxes...........................

48,450

4,838

43,612

-175

3

-178

-1,146

11

-1,157

-990

95

-1,085

3,176

512

2,664

22,485

1,673

20,812

1 13,067

1,028 

| 12,039

| 6,214

686

j 5,528

2,421

341

2,080

I 3,398 

489

1 2,909

6,218

18,155

10

6

31

46

365

810

1,566

2,950

2,674

6,854

992

3,643

352

1,955

145

882

83

1,009

24,373 16 77 1,175 4,516 9,528 4,635 2,307 1,027 1,092

19,239 -194 -1,234 -2,260 -1,852 11,284 7,404 3,221 1,053 1,817

1,366 43 372 832 77

623

17

109

25 3,762 75 740 972 1,227

1,189

16 2,778 729 697 163 90 80 10 1,746

9,742

119

119

6

81

187

1,699

509

2,630

625

3,873

151

1,014

74

210

49

65

26

51

14,994

462

2

60

25 1,277

75

2,329

120

6,593

60

2,377

116

1,873

31

292 226

253 161 42 16 34

3,890

19,599

128 293 778

3,269

1,206

7,875

1,025

3,552

235

2,139

116

408

109

62 153 1,806 335

9,382 -137 -1,306 -2,367 -2,491 7,282 4,866 1,292 710 1,533

1,006,927

1,016,309

6,488

6,351

14,470

18,164

76,401

74,084

263,641

261,150

360,082

367,364

167,162

172,028

64,818

66,110

29,892

80,102

24,473

26,006

1,597,382

2,631,770

2,622,995

407,445

7,259,592

9,211

9,433

11,1 00

2,931

32,675

17,839

27,981

20,951

7,867

74,638

164,889

211,371

189,302

42,467

608,029

439,391

707,575

608,478

139,731

1,895,175

559,592

1,067,700

988,138

134,457

2,749,887

257,995

420,449

465,395

50,798

1,194,637

89,736

123,701

198,721

15,785

427,943

34,193

46,004

58,322

7,996

146,515

24,536

17,556

82,588

5,413

130,093

3,036,855

3,145,623

6,182,478

59,967

1,017,147

7,259,592

9,392

16,056

25,448

806

6,421

32,675

24,997

32,667

57,664

3,015

13,959

74,638

272,685

256,536

529,221

2,881

75,927

608,029

800,716

813,085

1,613,801

16,808

264,566

1,895,175

1,068,311

1,303,952

2,372,263

12,591

365,033

2,749,887

547,834

467,769

1,015,603

8,718

170,316

1,194,637

192,329

164,149

356,478

5,914

65,551

427,943

76,006

39,399

115,405

1 ,2 1 0

29,900

146,515

44,585

52,010

96,595

8,024

25,474

136,093

1 Asset and liability items are averages of figures for December 81, 1936, June 30, 1937, and December 31, 1937. 

NOTE: Minus (-) indicates deficit, net loss, or net decrease in total capital account.

Back figures—See the Annual Report for 1936, p. 182.

EARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS ON TOTAL ASSETS

T a b le 141. RATIOS OF EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF INSURED COMMERCIAL BANKS NOT MEMBERS

of the F ederal R eserve Sy ste m , Calen d ar Y e a r 1937

All

banks

Banks with net current 

operating deficits per 

$100 of total assets of- 1

Banks with net current operating earning3 per $100 of total assets of— 1

$.50 

and over

Less than 

$0.50

Less than 

$0.50

$0.50 

to $0.99

$1.0 0 

to $1.49

$1.50 

to $1.99

$2 .0 0 

to $2.49

$2.50 

to $2.99

$3.00 

and over

Number of banks.......................................... 7,351 42 74 528 1,655 2,303 1,544 665 294 246

Amounts per $100 of gross earnings 

Current operating earnings:

Interest and discount on loans............................ $50.32 $41.33 $37.11 $42.82 $44.89 $49.97 $53.31 $59.96 $50.54 $70.90

Interest and dividends on securities.................... 29.31 27.42 35.58 30.89 32.03 32.50 28.59 20.03 20.65 6.54

Commissions, fees, and collection, exchange, and

service charges.................................................. 10.65 11.98 15.32 10.96 7.97 9.67 12.34 12.17 20.43 16.48

Other current operating earnings......................... 9.72 19.27 11.99 15.33 15.11 7.86 5.76 7.84 8.38 6.08

Gross current operating earnings.............. 100 .00 100 .00 100 .00 1 0 0 .0 0 1 00 .00 1 0 0 .0 0 1 0 0 .0 0 1 00 .00 1 00 .00 100.00

Current operating expenses:

Interest on time and savings deposits................. $19.56 $30.11 $21.48 $21.27 $21.55 $22.29 $16.66 $13.81 $9.50 $9.86

Interest and discount on borrowings................... .25 1.15 1.80 .07 .55 .10 .08 .22 .16 .51

Salaries, wages, and fees...................................... 26.96 48.42 39.82 34.35 30.11 24.61 24.96 25.01 26.21 25.68

Taxes (other than on income)............................. 5.29 9.68 7.68 7.35 6.35 5.04 4.63 3.87 4.04 3.50

Other expenses of occupancy and maintenance of 

banking quarters............................................... 4.68 10.64 10.34 8.67 5.71 3.84 3.79 3.68 3.54 4.58

Other current operating expenses........................ 14.48 24.45 22.76 18.03 15.85 13.62 13.28 13.55 12.80 14.10

Total current operating expenses.............. 71.22 124.45 103.88 89.74 80.12 69.50 63.40 60.14 56.25 58.23

Net current operating earnings......................... $28.78 $-24.45 $-3.88 $10.26 $19.88 $30.50 $36.60 $39.86 $43.75 $41.77

Amounts per $100 of total assets1

Current operating earnings:

Interest and discount on loans............................ $2.14 $1.32 $1.27 $1.47 $1.71 $2.03 $2.47 $3.36 $3.10 $6.21

Interest and dividends on securities.................... 1.25 .88 1 .2 2 1.07 1.23 1.32 1.33 1 .1 2 1.27 .57

Commissions, fees, and collection, exchange, and 

service charges.................................................. .45 .38 .52 .38 .31 .39 .57 .68 1.26 1.44

Other current operating earnings......................... .41 .62 .41 .53 .58 .32 .27 .44 .52 .53

Gross current operating earnings.............. 4.25 3.20 3.42 3.45 3.83 4.06 4.64 5.60 6.15 8.75

Current operating expenses:

Interest on time and savings deposits................. $0.83 $0.96 $0.73 $0.73 $0.83 $0.90 $0.77 $0.77 $0.58 $0.86

Interest and discount on borrowings................... .01 .04 .06 .00 .02 .00 .00 .01 .01 .04

Salaries, wages, and fees...................................... 1.15 1.55 1.37 1.19 1.15 1 .0 0 1.16 1.40 1.61 2.25

Taxes (other than on income)............................. .22 .31 .26 .25 .24 .20 .21 .22 .25 .31

Other expenses of occupancy and maintenance of

banking quarters............................................... .20 .34 .35 .30 .22 .16 .18 .21 .22 .40

Other current operating expenses........................ .62 .78 .78 .62 .61 .55 .62 .76 .79 1.23

Total current operating expenses.............. 3.03 3.98 3.55 3.09 3.07 2.81 2.94 3.37 3.46 5.09

Net current operating earnings......................... $1 .22 $-0.78 $-0.13 $0.36 $0.76 $1.25 $1.70 $2.23 $2.69 $3.66

OX

0 0FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Recoveries, profits on securities, etc....................

Losses and depreciation on assets...................

Net profits before income taxes and dividends

Income taxes, Federal and State........................

Net profits after income taxes........................

Cash dividends declared......................................

Net profits after dividends..............................

Other additions to total capital account.............

Other deductions from total capital account....

Net change in total capital account.............

Total capital account, December SI, 1986 ...........

Total capital account, December 81,19S7...........

$0.72

1.27

.67

.07

.60

.33

.27

.13

.27

.13

13.87

14-00

$1.25

1 .0 1

-.54

.00

-.54

.05

-.59

.36

.19

-.42

19.86

19.44

$0.75

2.16

-1.54

.01

-1.55

.10

-1.65

.11

.21

-1.75

19.39

17.64

$0.87

1.39

-.16

.02

-.18

.19

-.37

.28

.30

-.39

12.57

12.18

$0.79 

1.38 

.17 

.03 

.14 

.24 

- .1 0 

.14 

.17 

-.13 

IS.91

18.78

$0.65

1.08

.82

.06

.76

.35

.41

.14

.29

.26

18.10 1S.S6

$0 .6 6

1.27

1.09

.08

1 .01

.39

.62

.08

.29

.41

13.99

14-40

$0.81

1.59

1.45

.16

1.29

.54

.75

.05

.50

.30

15.15

15.45

$0.60

1.64

1.65 

.23

1.42

.70

.72

.04

.28

.48

20.06

20.54

$0.63

1.67

2.62

.38

2.24

.84

1.40

.04

.26

1.18

18.81

19.99

Amounts per $100 of total capital

account1

Net current operating earnings..................... $8.73 $-3.97 $-0.71 $2.83 $5.46 $9.33 $11.92 $14.57 $13.18 $18.67

Recoveries, profits on securities, etc.................... 5.15 6.39 4.00 6.99 5.65 4.94 4.65 5.31 2.92 3.22

Losses and depreciation on assets....................... 9.12 5.14 11.50 1 1.1 2 9.91 8 .1 1 8.90 10,40 8 .0 0 8.55

Net profits before income taxes and dividends 4.76 -2.72 - 8 .2 1 -1.30 1 .2 0 6.16 7.67 9.48 8 .1 0 13.34

Income taxes, Federal and State........................ .47 .05 .08 .13 .19 .46 .60 1.05 1.14 1.92

Net profits after income taxes........................ 4.29 -2.77 -8.29 -1.43 1.01 5.70 7.07 8.43 6.96 11.42

Cash dividends declared...................................... 2.40 .25 .55 1.55 1.71 2.61 2.72 3.52 3.44 4.29

Net profits after dividends.............................. 1.89 -3.02 -8.84 -2.98 -.70 3.09 4.35 4.91 3.52 7.13

Other additions to total capital account............. .96 1 .8 6 .58 2.24 .99 1.06 .60 .32 .22 .20

Other deductions from total capital account.. . . 1.93 .97 1 .10 2.38 1.23 2.16 2.09 3.26 1.37 1.31

Net change in total capital account............. .92 -2.13 -9.36 -3.12 -.94 1.99 2 .8 6 1.97 2.37 6 .0 2

Special ratios 

Interest and discount on loans per $100 of total

loans1................................................................. $5.92 $3.88 $4.52 $4.74 $5.36 $5.65 $6.35 $7.23 $7.81 $9.77

Interest and dividends on securities per $100 of

total securities1................................................. 3.44 3.03 3.25 3.06 3.29 3.40 3.77 3.88 4.04 4.24

Profits on securities per $100 of total securities1.. .69 1.99 .89 .90 .71 .62 .68 .78 .53 .68

Interest on time deposits per $100 of time deposits

of individuals, partnerships, and corporations1 1.92 1.96 1 .6 8 1.74 1.92 1.91 1.97 2 .0 2 2.17 2.16

Losses on loans per $100 of total loans1............. 1.39 .67 3.54 1.62 1.79 1.17 1.18 1.33 1.13 1.44

Losses on securities per $100 of total securities1. 1.08 1.36 .73 .90 1.16 .89 1.29 1.74 1.19 1 .2 2

Average of assets and liabilities per $100 of 

total assets :l

ASSETS

Cash and due from banks.................................... $2 2.0 0 $28.19 $23.90 $27.12 $23.18 $20.35 $21.60 $20.97 $23.34 $18.86

Securities.............................................................. 36.25 28.87 37.49 34.76 37.34 38.83 35.19 28.91 31.40 13.49

Loans.................................................................... 36.13 33.97 28.07 31.13 32.11 35.93 38.96 46.43 39.80 63.49

Miscellaneous assets............................................. 5.62 8.97 10.54 6.99 7.37 4.89 4.25 3.69 5.46 4.16

Total assets.................................................... 1 00 .00 1 00.00 1 0 0 .0 0 1 00 .00 1 00 .00 1 0 0 .0 0 1 00 .00 1 0 0 .0 0 1 00.00 100 .00

LIABILITIES AND CAPITAL

Demand deposits.................................................

Time deposits.......................................................

$41.83 $28.74 $33.49 $44.85 $42.25 $38.85 $45.85 $44.94 $51.88 $34.27

43.33 49.14 43.77 42.19 42.90 47.42 39.16 38.36 26.89 39.98

Total deposits................................................ 85.16 77.88 77.26 87.04 85.15 86.27 85.01 83.30 78.77 74.25

Miscellaneous liabilities....................................... .83 2.47 4.04 .47 .89 .46 .73 1.38 .83 6.17

Total capital account.......................................... 14.01 19.65 18.70 12.49 13.96 13.27 14.26 15.32 20.40 19.58

Total liabilities and capital account......... 100.06 100.00 100.00 1 00.00 1 00.00 1 00.00 100.00 100 .00 100.00 100.00

xAsset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937. 

NOTE: Minus (-) indicates deficit, net loss, or net decrease in total capital account.

Back figures—See the Annual Report for 1936, p. 184.

EARNINGS OP INSURED COMMERCIAL BANKS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
NUMBER OP BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OP NET EARNINGS ON TOTAL ASSETS, K

AMOUNT OP DEPOSITS, POPULATION OP CENTER IN WHICH LOCATED, AND NUMBER OP COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED O

T a b le 142. N ET CURRENT OPERATING EARNINGS OP INSURED COMMERCIAL BANKS NOT MEMBERS OP THE

F ederal R eserve System, Calen d ar Y e a r 1937

All

banks

Banks with net current 

operating deficits per 

$100 of total assets of— 1

Banks with net current operating earnings per $100 of total assets of— 1

$0.50 

and over

Less than 

$0.50

Less than 

$0.50

$0.50 

to $0.99

$1 .0 0 

to $1.49

$1.50 

to $1.99

$2 .0 0 

to $2.49

$2.50 

to $2.99

$3.00 

and over

All banks................................................................ 7,351 42 74 528 1,655 2,303 1,544 665 294 246

Banks with average deposits of— 1

$1 00,000 and under.............................................. 582 14 17 69 98 121 98 65 50 50

$100,000 to $250,000............................................ 2,123 15 23 146 424 575 484 233 122 101

$250,000 to $500,000............................................ 2,046 4 15 138 450 670 456 189 70 54

$500,000 to $1,000,000......................................... 1,334 4 7 86 328 455 270 118 35 31 $1,000 ,00 0 to $2 ,0 0 0 ,0 0 0 ...................................... 763 2 7 52 2 00 280 156 44 16 6

$2,000,000 to $5,000,000...................................... 362 2 2 24 112 151 60 10 1

$5,000,000 to $10,000,000.................................... 81 2 5 25 31 13 3 2

$10,000,000 to $50,000,000.................................. 55 1 1 6 18 17 7 3 1 1

Over $50,000,000.................................................. 5 2 3

Banks in centers with population of—

Under 250............................................................. 671 3 12 65 152 205 125 63 27 19

250 to 500............................................................. 1,365 10 13 101 290 410 286 144 64 47

500 to 1,000.......................................................... 1,624 12 15 103 358 493 363 151 78 51

1,000 to 2,500....................................................... 1,517 9 11 91 299 471 366 152 72 46

2,500 to 5,000....................................................... 705 7 52 173 215 161 59 21 17

5,000 to 10,000..................................................... 495 4 32 120 187 78 47 15 12

10,000 to 25,000................................................... 358 3 3 25 100 132 62 12 8 13

25,000 to 50,000................................................... 160 1 12 52 50 33 7 1 4

50,000 and over.................................................... 456 5 8 47 111 140 70 30 8 37

Banks in centers with—

1 banking office.................................................... 4,697 27 42 307 978 1,444 1,031 478 228 162

2 banking offices................................................... 1,585 7 20 128 406 508 320 126 46 24

3 banking offices................................................... 389 2 1 27 93 141 84 15 8 18

4 banking offices................................................... 166 1 2 13 50 50 27 14 3 6

5 banking offices................................................... 76 1 4 23 24 15 3 2 4

6 banking offices................................................... 61 3 9 15 16 8 4 1 5

7 or 8 banking offices........................................... 50 1 1 7 10 15 7 2 7

9 to 19 banking offices......................................... 150 1 2 9 44 48 23 13 3 7

Over 19 banking offices........................................ 177 2 3 24 36 57 29 10 3 13

JAsset and liability items are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937. 

Back figures—See the Annual Report for 1936, p. 186.

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
NUMBER OF BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET PROFITS ON TOTAL ASSETS,

AMOUNT OF DEPOSITS. POPULATION OF CENTER IN WHICH LOCATED, AND NUMBER OF COMMERCIAL BANKING OFFICES IN CENTER IN WHICH LOCATED

T a b le 143. NET PROFITS BEFORE DIVIDENDS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F ederal R e serve System, C alen dar Y e a r 1937

All

Banks with net losses before dividends 

per $ 100 of total assets of— 1

$1.50 

and over

$1 .0 0 

to $1.49

$0.50 

to $0.99

Less than 

$0.50

Less than 

$0.50

$0.50 

to $0.99

$1 .0 0 

to $1.49

$1.50 

to $1.99

$2 .0 0 

to $2.49

$2.50 

to $2.99

$3.00 

and over

All banks................................................................ 7,351 248 118 233 563 1,364 1,827 1,492 826 360 169 151

Banks with average deposits of— 1

$1 00,000 and under............................................. 582 46 20 29 55 119 97 83 64 27 20 22

$100,000 to $250,000........................................... 2,123 80 41 75 187 373 434 409 278 126 67 53

$250,000 to $500,000........................................... 2,046 47 22 58 142 375 533 448 228 110 46 37

$500,000 to $1,000,000......................................... 1,334 29 19 39 86 229 374 299 149 56 27 27

$1,00 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 ...................................... 763 26 13 21 54 136 228 168 73 30 6 8

$2,000,000 to $5,000,000...................................... 362 14 2 9 32 91 119 59 25 6 3 2

$5,000,000 to $10,000,000.................................... 81 3 1 2 3 27 21 15 5 2 2

$10,000,000 to $50,000,000.................................. 55 2 3 14 19 10 4 3

Over $50,000,000.................................................. 5 1 1 2 1

Banks in centers with population of—

Under 250............................................................ 671 31 19 30 65 131 157 127 56 29 13 13

250 to 500............................................................ 1,365 58 18 53 111 265 323 253 156 69 37 22

500 to 1,000.......................................................... 1,624 46 31 50 130 295 384 359 167 90 34 38

1,000 to 2,500....................................................... 1,517 37 18 44 99 252 362 329 227 84 40 25

2,500 to 5,000....................................................... 705 25 10 20 49 123 175 151 84 38 18 12

5,000 to 10,000..................................................... 495 15 10 14 33 81 143 113 51 14 11 10

10,000 to 25,000................................................... 358 14 5 12 24 77 113 57 33 10 5 8

25,000 to 50,000................................................... 160 1 4 4 11 46 49 31 8 3 1 2

50,000 and over.................................................... 456 21 3 6 41 94 121 72 44 23 10 21

Banks in centers with—

1 banking office.................................................... 4,697 150 80 151 366 832 1,120 977 547 258 119 97

2 banking offices.................................................. 1,585 65 24 58 112 295 418 329 180 58 30 16

3 banking offices.................................................. 389 7 5 8 23 89 109 76 38 17 7 10

4 banking offices.................................................. 166 8 4 7 15 38 42 25 15 4 3 5

5 banking offices................................................... 76 1 2 6 16 25 13 7 3 3

6 banking offices................................................... 61 ...........2 * 1 2 4 10 19 10 7 2 2 2

7 or 8 banking offices........................................... 50 1 2 15 13 10 2 3 2 2

9 to 19 banking offices......................................... 150 6 1 2 18 26 37 28 16 6 2 8

Over 19 banking offices....................................... 177 9 2 3 17 43 44 24 14 9 4 8

Banks with net profits before dividends per $100 of total assets of— 1

xAsset and liability items are averages of figures for December 31, 1936, June i

Back figures—See the Annual Report for 1936, p. 187.

, 1937, and December 31, 1937.

EARNINGS OF INSURED COMMERCIAL BANKS

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
T a b le 14 4. NET CURRENT OPERATING EARNINGS OF INSURED COMMERCIAL BANKS NOT MEMBERS OF THE

F e deral R eserve System, C alen dar Y e a r 1937

NUMBER OF BANKS OPERATING THROUGHOUT ENTIRE YEAR GROUPED ACCORDING TO RATE OF NET EARNINGS AND NET PROFITS ON TOTAL ASSETS

All

Banks with net current 

operating deficits per 

$ 10 0 of total assets of- 1

Banks with net current operating earnings per $100 of total assets of— 1

banks $0.50 

and over

Less 

than $0.50 thanef<>.50

$0.50 

to $0.99

$1 .0 0 

to $1.49

$1.50 

to $1.99

$2 .0 0 

to $2.49

$2.50 

to $2.99

$3.00 

and over

All banks................................................................ 7,351 42 74 528 1,655 2,303 1,544 665 294 246

Banks with losses—total................................. 1,162 31 47 175 335 321 171 54 15 13

Banks with profits—total................................ 6,189 11 27 353 1,320 1,982 1,373 611 279 233

Banks with net losses before dividends 

per $ 100 of total assets of— 1

$1.50 and over.................................................. 248 10 12 38 67 64 35 14 4 4

$1.00 to $1.49................................................... 118 5 2 12 45 29 17 5 2 1

$0.50 to $0.99................................................... 233 12 8 37 63 64 32 11 1 5

Less than $0.50................................................. 563 4 25 88 160 164 87 24 8 3

Banks with net profits before dividends 

per $ 100 of total assets of— 1

Less than $0.50................................................ 1,364 4 16 246 459 378 164 59 26 12

$0.50 to $0.99................................................... 1,827 2 3 73 643 713 270 83 24 16

$1.00 to $1.49................................................... 1,492 2 6 19 157 646 464 145 36 17

$1.50 to $1.99...................................................

$2.00 to $2.49...................................................

826

360

2 12

1

34

12

164

44

330

84

183

96

76

67

25

56

$2.50 to $2.99................................................... 169 1 1 9 17 27 32 34 48

$3.00 and over.................................................. 151 1 1 1 6 2 0 34 13 16 59

1Total assets are averages of figures for December 31, 1936, June 30, 1937, and December 31, 1937. 

Back figures—See the Annual Report for 1936, p. 188.

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
EARNINGS OF INSURED COMMERCIAL BANKS 163

Table 145. EARNINGS, EXPENSES, AND DISPOSITION OF PROFITS OF OPERATING 

In su re d M u tu a l Savin gs B an k s, C a le n d a r Y e a r s 1935-1937

(Amounts in thousands of dollars)

*1935 1936 1937

Number of banks.. 56 56 56

Current operating earnings:

Interest and discount on loans...................................................... 20,769

17,152

104

4,707

42,732

18,708

16,551

132

5,990

41,381

18,577

15,649

228

7,594

42,048

Interest and dividends on securities.............................................

Commissions, fees, and collection, exchange, and service charges. 

Other current operating earnings..................................................

Gross current operating earnings.......................................

Current operating expenses:

Interest and discount on borrowings............................................ (2)

3,162

*3,049

4124

6,554

12,889

18

3,344

3,111

606

7,270

14,349

34

3,609

3,800

751

7,619

15,813

Salaries, wages, and fees................................................................

Taxes (other than on income).......................................................

Other expenses of occupancy and maintenance of banking quarters 

Other current operating expenses..................................................

Total current operating expenses........................................

Net current operating earnings................................................. 29,843 27,032 26,235

Profits on assets sold or exchanged, recoveries and reductions 

in valuation allowances:

Profits on securities sold or exchanged......................................... 2,457

(5) 1,813

1,170

1,527

6,967

4,032

1,843

999

263

4,524

11,661

3,466

2,414

774

93

3,675

10,422

Profits on other assets sold or exchanged.....................................

Recoveries and reductions in valuation allowances on loans........

Recoveries and reductions in valuation allowances on securities

All other recoveries and reductions in valuation allowances........

Total profits on assets sold, recoveries, etc................

Net earnings, profits and recoveries on assets, etc.................. 36,810 38,693 36,657

Losses, charge-offs, and additions to valuation allowances: 

On loans......................................................................................... 2,557

3,276

2,642

8,475

1,656

3,101

6,604

11,361

4,782

7,089

3,765

15,636

On securities..................................................................................

All other losses, charge-offs, and additions to valuation allowances 

Total losses, charge-offs, etc.................................................

Net profits before income taxes and dividends......................... 28.335

(6)

28.335

27,332

6

27,326

2 1,0 21

8

21,013

Income taxes, Federal and State.................................................

Net profits available for distribution to depositors and for 

addition to capital funds......................................................

Interest and dividends paid depositors and interest paid on 

capital:

Interest and dividends paid depositors......................................... 22,132

297

22,429

19,607

479

20,086

19,262

407

19,669

Interest paid on capital notes and debentures..............................

Total interest and dividends.................................................

Net profits after interest and dividends..................................... 5,906 7,240 1,344

figures were revised by the transfer of “ depreciation on banking house, furniture and fixtures" 

from the category of loss or charge-off to that of current operating expense; and by the transfer of “interest and discount on borrowings” from the category of current operating expense to that of interest 

and dividends. See NOTE on page 65.

included with “interest paid on capital notes and debentures” . See footnote 1. 

includes “income taxes’*.

♦“ Depreciation on banking house, furniture and fixtures** only, 

included with recoveries.

®Not available. See footnote 3.

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Federal Reserve Bank of St. Louis
SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

T a b le 146. NUMBER AND DEPOSITS OF BANKS SUSPENDING OPERATIONS, 1934-1937

GROUPED BY CLASS OF BANK, BY YEAR, BY AMOUNT OF DEPOSITS, AND BY STATE

United States—total. .

Calendar Year

193 4 

193 5 

193 6 

193 7 

Banks with deposits of— 1

$1 0 0 ,0 0 0 and under.................

$100,000 to $250,000...............

$250,000 to $500,000...............

$500,000 to $1,000,000. .. 

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . 

$2,000,000 to $5,000,000.

$5,000,000 to $10,000,000.. 

$10,000,000 to $50,000,000. 

Over $50,000,000.................

State 

Arkansas... 

California... 

Connecticut.

Georgia.......

Illinois........

Indiana...

Iowa........

Kansas. .. 

Kentucky. 

Louisiana.

Number

Total

194

1

1

1

6

5

25

4

6 

10

3

Insured banks

Total

129

Members F. R. 

System

National State

10

Not 

members 

F. R. 

System

117

8

22

40

47

52

39

13

8

5

1

5

3

10

1

3

9

3

Noninsured

banks2

65

48

8

3

6

28

17

14

1

3

2

15

2

Deposits (in thousands of dollars) 1

Total

77,923

36,937

9,852

m,412

19,722

4,623

9,257

10,880

6,893

811,184

17,970

17,116

157

84

1,050

726

987

5,032

4,013

468

2,806

1,654

Insured banks

Total

41,019

1,952

9,005

310,820

19,242

3,022

6,706

5,867

6,151

311,184

8,089

157

1,050

692

846

2,953

3,749

238

2,806

1,654

Members F. R. 

System

National State

13,189

40

5,263

507

7,379

40

194

903

507

3,456

8,089

3,594

1,474

1,708

1,708

365

1,343

Not 

members 

F. R. 

System

26,122

1,912

3,742

310,313

10,155

2,982

6,512

4,599

5,644

*6,385

157

1,050

692

846

2,953

155

238

1,332

1,654

Noninsured

banks2

36,904

34,985

.847

592

480

1,601

2,551

5,013

742

9,881

17,116

84

34

141

2,079

264

230

£FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Maryland.......

Michigan........

Minnesota. . . . 

Mississippi.... 

Missouri.........

Montana........

Nebraska........

New Jersey. .. 

New York. ... 

North Dakota.

Ohio...............

Oklahoma... . 

Pennsylvania.. 

South Carolina 

South Dakota.

Tennessee.......

Texas.............

Virginia..........

West Virginia. 

Wisconsin.......

1 669 669

1 1 107 59

2 155 155

2 153 153

24 13 5,599 3,661

1 94 94

3 469 194

3 8 25,591 3,477

2 9,041 1,982

7 467 467

1 3 *2,964 *2,242

3 1 572 561

1 1 5,996 5,886

1 1 305 136

8 1,175 1,175

6 1 476 464

10 1 2,863 2,435

1 2 843 376

1 1,172 1,172

8 4 2,235 1,516

40

194

1,982

261

4,824

507

313

1,708

669

59

155

153

3,661

54

1,769

“ 467

*1,981

561

1,062

136

668

464

2,435

63

1,172

1,516

48

1,938

275

22,114

7,059

722

11

110

169

12

428

467

719

deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of date of latest report prior to suspension.

2Excludes noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation.

*Revised.

NOTE: Figures for 1935 include 1 insured bank in Oklahoma, with deposits of $85,000, which was reopened as an insured bank. Figures for 1937 include 4 banks which 

were not placed in receivership: 1 insured bank in Iowa, with deposits of $3,594,000, which was merged with the aid of a loan from the Federal Deposit Insurance Corporation 

(SeeTable 154, page 180); 1 insured bank in Kentucky, with deposits of $206,000, which was reopened; 1 insured bank in Tennessee, with deposits of $122,000, which was taken 

over by another bank and operated as a branch; and 1 noninsured bank in Missouri, with deposits of $45,000, which was reopened. Figures for 1937 also include 1 insured bank 

in Maryland, with deposits of $669,000, which was not placed in receivership until 1938.

05Ol SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
T a b le 14 7. NUMBER AND DEPOSITS OP BANKS SUSPENDING OPERATIONS, 1937

GROUPED BY CLASS OP BANK, BY AMOUNT OP DEPOSITS, AND BY STATE

05

05

United States—total.

Banks with deposits of— 1

$1 0 0 ,0 0 0 and under...................

$100,000 to $250,000.................

$250,000 to $500,000.................

$500,000 to $1,000,000. .. 

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . 

$2,00d,000 to $5,000,000.

$5,000,000 to $10,000,000.. 

$10,000,000 to $50,000,000. 

Over $50,000,000.................

State 

Arkansas. 

Georgia... 

Illinois. .. 

Indiana... 

Iowa........

Kentucky.. 

Louisiana.. 

Maryland.. 

Minnesota. 

Missouri...

Montana........

New Jersey. .. 

New York. . .. 

North Dakota. 

Pennsylvania..

Number

Total

59

24

17

9

4

4

1

Insured banks

Total

53

Members F. R. 

System

National State

Not 

members 

F. R. 

System

47

19

16

7

4

1

Noninsured

banks3

Deposits (in thousands of dollars) 1

Total

19,722

1,440

2,927

3,207

2,583

5,971

3,594

157

205

610

828

3,858

2,582

248

669

82

1,855

54

1,708

1,982

421

329

Insured banks

Total

19,242

1,170

2,717

3,207

2,583

5,971

3,594

157

205

610

735

3,594

2,582

248

669

82

1,744

54

1,708

1,982

421

329

Members F. R. 

System

National State

7,379

3,456

3,594

3,594

1,474

1,982

329

1,708

365

1,343

1,708

Not 

members 

F. R. 

System

10,155

1,170

2,717

2,513

2,583

1,172

157

205

610

735

1,108

248

669

82

1,744

54

421

Noninsured

banks3

480

270

210

93

264

111

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

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Federal Reserve Bank of St. Louis
South Dakota

Tennessee___

Texas............

Virginia........

West Virginia.

Wisconsin___

6 6

3 2

5 5

1 1

1 1

2 2

534 534

322 310

1,879 1,879

63 63

1,172 1,172

164 164

534

310

1,879

63

1,172

164

12

1Deposits of insured banks are as of date of suspension; deposits of noninsured banks are as of date of latest report prior to suspension.

^Excludes 4 noninsured banks operating under restrictions or moratoria which were placed in receivership or liquidation; 2 of these were incorporated banks with deposits 

totaling $125,000, and 2 were private banks for which deposits are not available. One of these banks subsequently reopened.

See NOTE on page 164.

Back figures—See the following Annual Reports: 1936, p. 192; 1935, p. 224.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
T able 148. Num ber and Deposits op Insured B anks Merged with the Aid op L oans prom the

Federal Deposit I nsurance Corporation, 1935-1937

GROUPED BY CLASS OP BANK, BY YEAR, BY AMOUNT OP DEPOSITS, AND BY STATE

United States—total.

Calendar year

193 5 

193 6 

193 7 

Banks with deposits of— 1

$1 0 0 ,0 0 0 and under...................

$100,000 to $250,000.................

$250,000 to $500,000.................

$500,000 to $1,000,000. . . 

$1 ,0 0 0 ,0 0 0 to $2 ,0 0 0 ,0 0 0 . 

$2,000,000 to $5,000,000.

$5,000,000 to $10,000,000. . 

$10,000,000 to $50,000,000. 

Over $50,000,000...............

State 

Alabama. 

Illinois. .. 

Indiana. . 

Iowa

Kansas.. .

Kentucky.........

Massachusetts.

Michigan.........

Missouri......... .

Montana..........

New Jersey. . . .

New York........

North Carolina. 

North Dakota.. 

Oklahoma........

Number

Total

53

1

27

25

17

12

8

8

2

5

Banks members F. R. 

System

National

12

2

10

State

Banks not 

members 

F. R. 

System

39

1

24

14

15

11

5

6 

1

1

1

1

10

1

10

1

Deposits (in thousands of dollars) 1

Total

39,350

4,357

16,699

18,294

1,120

1,895

3,129

6,099

2,944

17,405

6,758

428

893

983

3,594

146

235

809 12,222

1,823

83

5,413

1,214

162

2,168

586

Banks members F. R. 

System

National

14,412

2,166

12,246

161

127

1,122

744

2,944

9,314

428

258

3,594

1,729

’ “ 83

4,404

1,214

437

State

4,382

3,734

648

648

3,734

3,734

648

Banks not 

members 

F. R. 

System

20,556

4,357

10,799

5,400

959

1,768

2,007

4,707

4,357

6,758

635

983

146

809

6,759

1,823

361

162

2,168

149

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
Pennsylvania.....................................................................................................

2 II 1 1 1 2 I.................

1 6,417

127

160

78

844

965

2,060

127

4,357 South Dakota..................................... .............................................................

Tennessee..........................................................................................................

2 160

11 1 

1 .................

78

Virginia.............................................................................................................

13

844

Wisconsin.......................................................................................................... 3 |................. 965

1Deposits are as of date of examination prior to loan.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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Federal Reserve Bank of St. Louis
T able 149. INSURED BANKS PLACED IN RECEIVERSHIP, 1937

Designating

number

Name and location

Class

of

bank1

Year of 

organization

Date of 

suspension

Date of first payment 

to depositors 

by FDIC

Receiver

75

76

78

79

80

81

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99 

100

101

102

103

104

105

106

107

108

109

110

First International Bank, Noonan, North Dakota...................

Sterling State Bank, Sterling, North Dakota..........................

Bank of Houghton, Houghton, South Dakota........................

Farmers Bank of Trenton, Trenton, Missouri...........................

Farmers State Bank, Corsica, South Dakota............................

Akaska State Bank, Akaska, South Dakota............................

The Citizens State Bank of Lebanon, Lebanon, S. D..............

Texas State Bank and Trust Company, Corpus Christi, Texas

First State Bank, Arlington, Texas..........................................

Rio State Bank, Rio, Illinois....................................................

Bank of Eureka, Eureka, Missouri..........................................

The Citizens Bank, Bucklin, Missouri.....................................

St. Onge State Bank, St. Onge, South Dakota.........................

Whitewood Banking Company, Whitewood, South Dakota__

The State Bank of Marcellus, Marcellus, Michigan3...............

The Romney Bank, Romney, Indiana.....................................

Coloma State Bank, Coloma, Wisconsin..................................

Union State Bank & Trust Company, Bryan, Texas................

Hardin Trust Company, Hardin, Missouri..............................

Amite River Bank, Denham Springs, Louisiana......................

Ghent Deposit Bank, Ghent, Kentucky..................................

First State Bank of South San Antonio, Texas.......................

Bank of Sturgis, Sturgis, Kentucky.........................................

Chattooga County Bank, Summerville, Georgia.......................

Farmers State Bank of Bainville, Bainville, Montana............

Farmers & Merchants Bank, Newbern, Tennessee...................

Peoples Bank of Bloxom, Inc., Bloxom, Virginia......................

The Taylor National Bank of Campbeilsville, Kentucky.........

First Bank & Trust Company of Hamilton, Hamilton, Mo.. . . 

The Bank of Noel, Noel, Missouri............................................

The Fort Greene National Bank in N. Y., Brooklyn, N. Y .. ..

Farmers Bank & Trust Co., Charles Town, West Virginia.......

The Bank of Galena, Galena, Missouri.....................................

Perth Amboy Trust Company, Perth Amboy, New Jersey___

The Raritan Trust Company, Perth Amboy, New Jersey........

C 1907

C 1908

c 1908

c 1928

c 1905

c 1906

c 1910

c 1925

c 1915

c 1903

c 1904

c 1908

c 1906

c 1888

c 1927

c 1901

c 1920

c 1934

c 1919

c 1932

c 1887

c 1917

c 1876

c 1905

c 1911

c 1900

c 1923

A 1902

c 1930

c 1934

A 1929

c 1917

c 1909

B 1902

B 1916

April 3, 1937 

November 30, 1937 

January 12, 1937 

February 10, 1937 

February 18, 1937

February 18, 1937 

February 20, 1937 

April 8 , 1937 

April 12, 1937 

March 26, 1937

April 23, 1937 

May 1, 1937 

April 30, 1937 

April 29, 1937 

June 17, 1937

June 15, 1937 

June 14, 1937 

June 16, 1937 

June 18, 1937 

June 23, 1937

June 26, 1937 

June 29, 1937 

July 3, 1937 

July 13, 1937 

July 13, 1937

July 17, 1937 

July 19, 1937 

June 30, 1937 

July 24, 1937 

August 11, 1937

August 14, 1937 

August 31, 1937 

September 14, 1937 

October 2, 1937 

October 2, 1937

April 20, 1937 

December 15, 1937 

January 27, 1937 

February 25, 1937 

March 2, 1937

March 8 , 1937 

March 9, 1937 

April 27, 1937 

May 3, 1937 

May 17, 1937

May 3, 1937 

May 11, 1937 

May 12, 1937 

May 19, 1937 

June 17, 1937

August 24, 1937 

June 29, 1937 

June 29, 1937 

June 30, 1937 

July 12, 1937

July 8 , 1937 

July 19, 1937 

July 2 0 , 1937 

July 29, 1937 

July 24, 1937

August 4, 1937 

July 28, 1937 

August 30, 1937 

August 9, 1937 

August 26, 1937

August 19, 1937 

September 14, 1937 

September 24, 1937 

October 4, 1937 

October 4, 1937

FDIC

FDIC

FDIC

State banking authority 

FDIC

FDIC 

FDIC 

State banking authority 

State banking authority

State banking authority 

FDIC 

FDIC 

FDIC

State banking authority 

FDIC

State banking authority 

State banking authority

State banking authority 

State banking authority 

FDIC 

State banking authority 

State banking authority

FDIC 

FDIC 

State banking authority 

State banking authority

FEDERAL DEPOSIT INSURANCE CORPORATION

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Federal Reserve Bank of St. Louis
111

112

113

114

115

116

117

118

119

120

121

1 22

123

124

125

Burt State Bank, Burt, North Dakota................................

Ringgold State Bank, Ringgold, Texas................................

Roanoke State Bank, Roanoke, Illinois...............................

Fanners State Bank of Carlisle, Carlisle, Minnesota...........

The Nescopeck National Bank, Nescopeck, Pennsylvania..

Farmers State Bank, Wyndmere, North Dakota...............

Farmers & Merchants Bank of Elgin, Elgin, North Dakota

First State Bank, Barbourville, Kentucky...........................

Carter County Commercial Bank, Olive Hill, Kentucky . . . 

Bank of Swifton, Swifton, Arkansas.....................................

First State Bank, Center, North Dakota.............................

Bank of Alba, Alba, Missouri...............................................

Commercial Bank & Trust Co., Union City, Indiana..........

Nevada Trust Company, Nevada, Missouri,......................

Big Falls State Bank, Big Falls, Wisconsin..........................

C 1912 September 25,1937 October 14, 1937

C 1905 October 1, 1937 October 11, 1937

C 1913 September 8 , 1937 October 27, 1937

C 1915 October 7, 1937 November 1, 1937

A 1922 October 2 2 , 1937 November 9, 1937

C 1910 October 23, 1937 November 6 , 1937

C 1915 October 30, 1937 November 10, 1937

C 1923 October 29, 1937 November 12, 1937

C 1909 October 30, 1937 November 11, 1937

C 1905 November 19, 1937 December 9, 1937

C 1924 November 1, 1937 November 26, 1937

C 1906 November 1, 1937 November 16, 1937

C 1930 November 4, 1937 November 18, 1937

C 1918 December 2, 1937 December 16, 1937

c 1918 December 17, 1937 December 30, 1937

FDIC

State banking authority 

FDIC

FDIC 

FDIC 

State banking authority 

State banking authority

FDIC 

State banking authority 

State banking authority

*A—National bank member of the Federal Reserve System; B—State bank member of the Federal Reserve System; C—Bank not member of the Federal Reserve System. 

2This bank was placed in voluntary liquidation, with the Federal Deposit Insurance Corporation acting as liquidating agent.

NOTE: The bank designated by number 77 was placed in receivership in 1936.

Back data—See the following Annual Reports: 1936, p. 193; 1935, p. 225.

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS 171

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Federal Reserve Bank of St. Louis
T a b le 150. ASSETS OP INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 34-1 937

AS SHOWN BY BOOKS OF BANK AT DATE OP SUSPENSION

Designating

number Name and location Total

assets

Cash and 

due from 

banks

United

States

Government

securities

Other

securities

Loans, discounts, and 

overdrafts

Banking 

house, 

furniture 

and fixtures

Other real 

estate

Other

assets

Total, 1934-1937 (125 banks) $47,243,439 $6,592,597 $3,497,857 $5,046,917 $25,734,304 $1,485,115 $1,935,433 $2,951,216

Total, 1934 (9 banks).................................................................. 2,661,327 185,056 603,519 273,638 1,329,865 79,365 120,319 69,565

Total, 1935 (24 banks)................................................................ 12,323,948 1,974,181 698,440 510,479 6,842,116 459,055 242,274 1,597,403

Total, 1936 (42 banks)................................................................ 112,974,788 12,194,712 1902,215 11,955,104 16,454,624 459,700 734,874 1273,559

Total, 1937 (50 banks)................................................................

1937

First International Bank, Noonan, North Dakota........................

19,283,376 2,238,648 1,293,683 2,307,696 11,107,699 486,995 837,966 1,010,689

75 192,156 21,168 850 2,429 129,308 5,679 32,164 558

76 Sterling State Bank, Sterling, North Dakota................................. 120,849 14,426 2,300 32 89,869 5,050 8,876 296

78 Bank of Houghton, Houghton, South Dakota............................... 81,508 20,606 2 ,0 0 0 311 49,673 5,065 1,489 2,364

79 Farmers Bank of Trenton, Trenton, Missouri............................... 335,388 51,163 62,301 1,280 210,929 3,500 4,785 1,430

80 Farmers State Bank, Corsica, South Dakota................................. 204,543 70,919 18,350 14,000 84,970 9,500 2,800 4,004

81 Akaska State Bank, Akaska, South Dakota................................... 92,404 8,905 1,500 2,957 69,501 4,600 2,371 2,570

82 The Citizens State Bank of Lebanon, Lebanon, S. D.................... 153,512 7,567 4,127 108,321 8,600 2 1 ,2 2 0 3,677

83 Texas State Bank and Trust Company, Corpus Christi, Texas.. . 627,866 213,487 “ ‘ * 5 ,003 998 340,371 7,801 21,242 38,964

84 First State Bank, Arlington, Texas................................................ 718,781 178,519 41,625 187,318 270,365 4,750 11,552 24,652

85 Rio State Bank, Rio, Illinois........................................................... 384,412 15,811 8,400 4,625 301,576 6,700 47,300

86

87

Bank of Eureka, Eureka, Missouri................................................. 69,822

156,509

7,640

20,981

604 53,045

76,129

6,775

3,500

1,277

1,500

481

The Citizens Bank, Bucklin, Missouri............................................ 13,551 40,739 109

88

89

90

91

92

93

St. Onge State Bank, St. Onge, South Dakota..............................

Whitewood Banking Company, Whitewood, South Dakota..........

The State Bank of Marcellus, Marcellus, Michigan......................

The Romney Bank, Romney, Indiana...........................................

80,665

123,907

94,893

64,010

94,380

359,112

5,016

6,955

3,866

1,058

5,122

30,047

13,282

9,410

24,881

11,388

58,115

78,594

58,579

46,969

32,559

192,643

1,632

7,500

7,738

500

5,400

4,200

1,092

1,777

40

15,483

Coloma State Bank, Coloma, Wisconsin........................................ 725 52,561 913

90,400

2,500

Union State Bank & Trust Company, Bryan, Texas.................... 32,976 6 ,0 0 0 3,500 3,546

94 Hardin Trust Company, Hardin, Missouri.................................... 259,316 31,688 23,100 27,422 164,873 4,500 7,546 187

95 Amite River Bank, Denham Springs, Louisiana........................... 307,811 44,349 43,855 166,269 14,988 36,993 1,357

96 Ghent Deposit Bank, Ghent, Kentucky......................................... 223,152 27,471 1 0 ,0 0 0 25,632 113,920 3,800 41,588 741

97 First State Bank of South San Antonio, Texas............................. 513,503 70,921 15,000 177,001 217,653 14,005 857 18,066

98 Bank of Sturgis, Sturgis, Kentucky................................................ 245,582 67,400 19,850 25,000 116,199 4,000 11,980 1,153

99

100

Chattooga County Bank, Summerville, Georgia............................

Farmers State Bank of Bainville, Bainville, Montana..................

265,014

103,780

44,592

18,195

14,600 289

12,243

146,762

46,414

9,500

6 ,0 0 0

13,489

19,898

35,782

1,030

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
101 Farmers & Merchants Bank, Newbern, Tennessee...............

102 Peoples Bank of Bloxom, Inc., Bloxom, Virginia..................

103 The Taylor National Bank of Campbellsviile, Kentucky....

104 First Bank & Trust Company of Hamilton, Hamilton, Mo..

105 The Bank of Noel, Noel, Missouri........................................

106 The Fort Greene National Bank in N. Y., Brooklyn, N. Y..

107 Farmers Bank & Trust Co., Charles Town, West Virginia. .

108 The Bank of Galena, Galena, Missouri.................................

109 Perth Amboy Trust Company, Perth Amboy, New Jersey. .

110 The Raritan Trust Company, Perth Amboy, New Jersey...

111 Burt State Bank, Burt, North Dakota.................................

112 Ringgold State Bank, Ringgold, Texas.................................

113 Roanoke State Bank, Roanoke, Illinois................................

114 Farmers State Bank of Carlisle, Carlisle, Minnesota............

115 The Nescopeck National Bank, Nescopeck, Pennsylvania...

116 Farmers State Bank, Wyndmere, North Dakota..................

117 Farmers & Merchants Bank of Elgin, Elgin, North Dakota.

118 First State Bank, Barbourville, Kentucky............................

119 Carter County Commercial Bank, Olive Hill, Kentucky....

120 Bank of Swifton, Swifton, Arkansas......................................

121 First State Bank, Center, North Dakota..............................

122 Bank of Alba, Alba, Missouri................................................

123 Commercial Bank & Trust Co., Union City, Indiana...........

124 Nevada Trust Company, Nevada, Missouri.........................

125 Big Falls State Bank, Big Falls, Wisconsin..........................

263,518

100,718

1,651,200

698,098

134,787

2,379,365

1,262,325

92,568

2,899,000

706,960

63,251

92,429

265,254

99,329

396,585

100,373

56,561

425,410

139,109

207,642

80,302

96,667

853,353

242,220

103,477

1Revised.

Back figures—See the following Annual Reports: 1936, p. 194; 1935, p. 226

11,037

15,793

252,976

56,621

13,244

318,388

54,060

33,019

48,205

8,316

7,945

8,507

31,630

12,982

35,294

25,376

12,912

9,641

20,656

84,836

11,897

29,383

91,724

47,050

9,284

56,100

538,704

261,137

11,919

7,500

27,500

26,264

15,061

15,000

21,860

12,400

“ “ 8 ,375 

6,450

58,650 175,831 6,218 11,782

9,185 59,068 6,624 6 ,0 0 0 4,048

149,599 605,893 35,000 607,732

16,297 431,941 48,500 82,118 6,526

320 108,642 3,750 3,244 5,587

355,638 1,032,273 22,336 77,248 34,778

188,069 662,138 47,500 34,689 14,732

7,057 40,321 5,800 1,850 4,521

122,608 2,534,226 37,518 89,979 54,545

19,430 432,476 4,500 237,766 4,472

533 48,665 2,700 3,080 328

15,001 51,836 5,900 3,927 7,258

214,388 7,600 4,136

8,902 50,219 3,850 565 .........811

119,357 171,011 41,833 1,560 1,266

850 50,161 5,000 563 3,362

4,077 30,588 2,761 6,008 215

52,495 324,779 17,500 2 ,0 0 0 3,995

19,475 65,711 2 ,0 0 0 9,407

4,224 110,853 2,797 * * ‘ ’ 4,932

10,533 37,898 3,275 527 3,772

92 55,878 7,350 3,900 64

268,489 448,005 7,500 472 28,788

77,825 101,207 9,600 88

44,488 40,085 “ ’ ' 6 ,0 0 0 4,605 15

SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 151. L iabilities op I nsured Ban k s Placed in R eceiversh ip, 19 34-1 937

AS SHOWN BY BOOKS OF BANK AT DATE OF SUSPENSION

Designating

number

75

76

78

79

80

81

82

83

84

85

87

88

89

90

91

92

93

94

95

96

97

98

99 

100

Name and location

Total, 1934-1937 (125 banks)..

Total, 1934 (9 banks).......................................................

Total, 1935 (24 banks).....................................................

Total, 1936 (42 banks).....................................................

Total, 1937 (50 banks).....................................................

1937

First International Bank, Noonan, North Dakota.............

Sterling State Bank, Sterling, North Dakota......................

Bank of Houghton, Houghton, South Dakota....................

Farmers Bank of Trenton, Trenton, Missouri....................

Farmers State Bank, Corsica, South Dakota......................

Akaska State Bank, Akaska, South Dakota........................

The Citizens State Bank of Lebanon, Lebanon, S. D.........

Texas State Bank and Trust Company, Corpus Christi, Te:

First State Bank, Arlington, Texas.....................................

Rio State Bank, Rio, Illinois................................................

Bank of Eureka, Eureka, Missouri......................................

The Citizens Bank, Bucklin, Missouri.................................

St. Onge State Bank, St. Onge, South Dakota................

Whitewood Banking Company, Whitewood, South Dakota 

The State Bank of Marcellus, Marcellus, Michigan...........

The Romney Bank, Romney, Indiana.................................

Coloma State Bank, Coloma, Wisconsin.............................

Union State Bank & Trust Company, Bryan, Texas..........

Hardin Trust Company, Hardin, Missouri.........................

Amite River Bank, Denham Springs, Louisiana................

Ghent Deposit Bank, Ghent, Kentucky..............................

First State Bank of South San Antonio, Texas...................

Bank of Sturgis, Sturgis, Kentucky.....................................

Chattooga County Bank, Summerville, Georgia.................

Farmers State Bank of Bainville, Bainville, Montana.......

Total

liabilities

$47,243,439

2,661,327

12,323,948

212,974,788

19,283,376

192,156

120,849

81,508

335,388

204,543

92,404

153,512

627,866

718,781

384,412

69,822

156,509

80,665

123,907

94,893

64,010

94,380

359,112

259,316

307,811

223,152

513,503

245,582

265,014

103,780

Total

deposits

Other

liabilities,

secured

Other

liabilities,

unsecured

$36,406,861

1,951,992

8,700,485

211,039,098

14,715,286

138,843

84,051

50,399

323,409

164,173

59,354

112,163

420,596

639,073

330,277

56,782

140,905

60,753

87,713

64.070

3,888

79.071 

301,609 

226,792 

248,448

188,835

465,777

212,968

204,956

54,107

$2,955,905

77,630

1,826,850

246,618

1,004,807

6,345

72

17

6,500

122

11,000

$487,397

27,333

285,036

247,077

127,951

50

31

56

186

24,335

37

23

74

R. F. C. 

capital

Private

capital

stock

$1,856,250

90,000

223.000

788.000 

755,250

25.000

15.000

14.000

20.000 

13,500

10,000

15.000 100,000

25.000

5.000 

8,900

11,900

5.000

15,000

30.000

30.000

15.000

15.000

30.000

25.000

$4,950,265

432,100

950,000

1,069,350

2,498,815

15.000

15.000

15.000

32.000

25.000

15.000

25.000 

100,000

50.000

40.000

11,650

5,000

10.000 20,000 20,000

25,700

10,000

50.000

30.000

25.000

15.000

25.000

15.000

30.000

25.000

Other

capital

accounts1

$586,761

82,272

338,577

2-15,355

181,267

13,313

6,748

2,109

-40,021

1,839

1,705

1,349

7,214

4,522

14,063

1,373

5,604 1,012

4,294

5,823

-4,913

-1,191

7,381

-38,476

4,334

4,280

22,703

2,614

-16

-327

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
101 102

103

104

105

106

107

108

109

110

111

112

113

114

115

116

117

118

119

120

121

122

123

124

125

Farmers & Merchants Bank, Newbern, Tennessee...................

Peoples Bank of Bloxom, Inc., Bloxom, Virginia.....................

The Taylor National Bank of Campbellsville, Kentucky.........

First Bank & Trust Company of Hamilton, Hamilton, Mo.... 

The Bank of Noel, Noel, Missouri............................................

The Fort Greene National Bank in N. Y., Brooklyn, N. Y___

Farmers Bank & Trust Co., Charles Town, West Virginia....

The Bank of Galena, Galena, Missouri....................................

Perth Amboy Trust Company, Perth Amboy, New Jersey.... 

The Raritan Trust Company, Perth Amboy, New Jersey.......

Burt State Bank, Burt, North Dakota.....................................

Ringgold State Bank, Ringgold, Texas....................................

Roanoke State Bank, Roanoke, Illinois....................................

Farmers State Bank of Carlisle, Carlisle, Minnesota...............

The Nescopeck National Bank, Nescopeck, Pennsylvania.......

Farmers State Bank, Wyndmere, North Dakota.....................

Farmers & Merchants Bank of Elgin, Elgin, North Dakota...

First State Bank, Barbourville, Kentucky...............................

Carter County Commercial Bank, Olive Hill, Kentucky.........

Bank of Swifton, Swifton, Arkansas.........................................

First State Bank, Center, North Dakota.................................

Bank of Alba, Alba, Missouri.. . ............................................

Commercial Bank & Trust Co., Union City, Indiana..............

Nevada Trust Company, Nevada, Missouri.............................

Big Falls State Bank, Big Falls, Wisconsin..............................

263,518

100,718

1,651,200

698,098

134,787

2,379,365

1,262,325

92,568

2,899,000

706,960

63,251

92,429

265,254

99,329

396,585

100,373

56,561

425,410

139,109

207,642

80,302

96,667

853,353

242,220

103,477

188,447

63,485

1,474,349

543,669

107,565

1,981,665

1,172,488

76,420

1,343,462

364,608

38,532

50,850

280,025

81,858

328,684

72,069

35,106

391,324

109,214

156,722

51,920

78,722

731,449

188,578

85,063

22,500 25.000

15.000

50.000

17.000 

2,500

125,716

250 60,000

15,000

15,793

161

17

86,674

137

63,000

581,067

156,018

5,000

10,795 1 0,0 00

20

3

9

14

10,0 00 34,650

7,500

5,000

10,0 00

1 0,000

15.000

1 2.0 00

52

155 39,800

5,000

25.000 

12,500

100,000

60.000 

10,000

500.000

115.000 

16,000

520,590

150.000

10,000 20,000

50.000

10.000

50.000

15.000

15.000

21.000

15.000 10.000

15.000

15.000 

34,375

50.000 10.000

2,571

9,733

26,851

17,179

-278

-243,809

-88,324

131

367,207

36,197

9,719

784

-64,791

7,468

-26,758

5,790

1,455

3,086

4,843

25,920

1,382

2,945

47,574

3,642

3,414

includes surplus, undivided profits, and reserve funds minus operating deficit, if any, as shown by books. 

2Revised.

Back figures—See the following Annual Reports: 1936, p. 196; 1935, p. 227.

Minus (-) indicates net operating deficit.

< 1

cnSUSPENSIONS, RECEIVERSHIPS, AND MERGERS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
Designating

number

75

76

78

79

80

81

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99 

100

T a b le 152. DEPOSITS OP INSURED BANKS PLACED IN RECEIVERSHIP, 1 9 34-1 937

AS SHOWN BY BOOKS OP FDIC, DECEMBER 31, 1937

Name and location Total1 Insured9 Secured and 

preferred*

Subject to 

offset

Uninsured, 

unsecured, not 

preferred, and 

not subject 

to offset

Restricted 

and deferred 

deposits 

uninsured

Total, 1934-1937 (125 banks)..

Total, 1934 (9 banks).............................................................

Total, 1935 (24 banks)...........................................................

Total, 1936 (42 banks)...........................................................

Total, 1937 (50 banks)...........................................................

1937

First International Bank, Noonan, North Dakota...................

Sterling State Bank, Sterling, North Dakota...........................

Bank of Houghton, Houghton, South Dakota..........................

Farmers Bank of Trenton, Trenton, Missouri..........................

Farmers State Bank. Corsica, South Dakota............................

Akaska State Bank, Akaska, South Dakota.............................

The Citizens State Bank of Lebanon, Lebanon, S. D...............

Texas State Bank and Trust Company, Corpus Christi, Texas

First State Bank, Arlington, Texas...........................................

Rio State Bank, Rio, Illinois......................................................

Bank of Eureka, Eureka, Missouri............................................

The Citizens Bank, Bucklin, Missouri......................................

St. Onge State Bank. St. Onge, South Dakota.........................

Whitewood Banking Company, Whitewood, South Dakota. . . 

The State Bank of Marcellus, Marcellus, Michigan.................

The Romney Bank, Romney, Indiana......................................

Coloma State Bank, Coloma, Wisconsin...................................

Union State Bank & Trust Company, Bryan, Texas...............

Hardin Trust Company, Hardin, Missouri...............................

Amite River Bank, Denham Springs, Louisiana......................

Ghent Deposit Bank, Ghent, Kentucky...................................

First State Bank of South San Antonio, Texas........................

Bank of Sturgis, Sturgis, Kentucky..........................................

Chattooga County Bank, Summerville, Georgia......................

Farmers State Bank of Bainville, Bainville, Montana............

$36,704,748

1,966,872

9,045,436

11,184,688

14,507,752

138,842

84,051

50,369

323,462

164,121

61,737

112,175

419,044

719,645

328,972

56,782

141,010

60,739

87,713

64.070

56,205

79.071 

301,604 

224,979 

248,455

188,823

490,418

212,969

205,000

54,107

$27,116,687

942,464

6,053,521

8,137,649

11,983,053

134,478

82,407

46,439

281,642

134,544

56,620

105,240

370,606

503,719

260,092

46,716

134,019

53,328

72,847

60,959

47,882

75,147

170,106

167,791

161,244

175,632

417,558

194,516

178,898

46,319

$2,850,166

755,533

466,207

610,226

1,018,200

2,113

11,917

19,786

3,311

4,007

55,569

7,500

4,951

9,317

110,300

25,290

76,751

8,119

14,406

$2,142,122

94,806

538,662

597,690

910,964

4,322

1,644

1,752

18,669

9,791

1,744

2,928

40,471

88,509

46,428

9,016

6,501

2,411

4,648

3,111

498

902

17,758

18,203

1,100

8,467

56,162

18,356

11,696

7,788

$3,694,333

102,785

1,982,043

1,013,970

595,535

42

65

11,234

62

7,967

71,848

14,952

1,050

490

49

901

7,825

3,022

3,440

13,695

9,360

4,724

8,579

97

$901,440

71,284

5,003

825,153

FEDERAL DEPOSIT INSURANCE CORPORATION

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
101

102

103

104

105

106

107

108

109 110

111

112

113

114

115

116

117

118

119

120

121 122

123

124

125

Farmers & Merchants Bank, Newbern, Tennessee.............

Peoples Bank of Bioxom, Inc., Bloxom, Virginia................

The Taylor National Bank of Campbellsville, Kentucky... 

First Bank & Trust Company of Hamilton, Hamilton, Mo. 

The Bank of Noel, Noel, Missouri......................................

The Fort Greene National Bank in N. Y., Brooklyn, N. Y. 

Farmers Bank & Trust Co., Charles Town, West Virginia..

The Bank of Galena, Galena, Missouri...............................

Perth Amboy Trust Company, Perth Amboy, New Jersey. 

The Raritan Trust Company, Perth Amboy, New Jersey..

Burt State Bank, Burt, North Dakota...............................

Ringgold State Bank, Ringgold, Texas...............................

Roanoke State Bank, Roanoke, Illinois..............................

Farmers State Bank of Carlisle. Carlisle, Minnesota..........

The Nescopeck National Bank, Nescopeck, Pennsylvania..

Farmers State Bank, Wyndmere, North Dakota................

Farmers & Merchants Bank of Elgin, Elgin, North Dakota

First State Bank, Barbourville, Kentucky..........................

Carter County Commercial Bank, Olive Hill, Kentucky... 

Bank of Swifton, Swifton, Arkansas....................................

First State Bank, Center, North Dakota............................

Bank of Alba, Alba, Missouri..............................................

Commercial Bank & Trust Co., Union City, Indiana.........

Nevada Trust Company, Nevada, Missouri.......................

Big Falls State Bank, Big Falls, Wisconsin........................

188,854

63,484

914,183

543,676

107,564

1,987,317

1,360,569

76,425

1,344,148

365,133

38,532

51,117

280,038

81,837

328,801

72,069

35,106

391,471

109,214

156,722

51,935

78,729

732,823

188,578

85,064

148,564

49,753

794,231

468,536

96,304

1,488,889

1,063,820

68,119

1,233,053

321,103

32,728

47,314

244,263

67,804

302,339

69,685

34,178

325,101

97,952

105,795

43,241

72,198

609,985

138,513

80,836

18,427

38,717

381,428

77,190

93,279

7,364

13,300

20,938

14,220

17,012

13,731

56,404

34,884 10,021

89,845

94,971

8,306

12,557

3,062

3,803

22,651

6,669

9,254

2,343

928

44,749

11,262

10,263

8,694

5,955

47,571

8,926

4,228

4,851

63,548

1,539

1,239

27,155

124,588

5,259

44,030

2,742

13,124 

* 3,908 

41

683

*40,664

576

61,047

41,139

iThe amount of deposits given in Table 152 does not agree with the amount shown in Table 151 due to the inclusion in Table 152 of deposits subsequently discovered or reclassified.

includes all deposits to be paid by FDIC.

’Includes only the portions of secured deposits to be met by sale of security and of preferred deposits to be paid by the receiver.

Back figures—See the following Annual Reports: 1936, p. 198; 1935, p. 228.

-3SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

Digitized for FRASER 

http://fraser.stlouisfed.org/ 

Federal Reserve Bank of St. Louis
T a b le 153. PAYMENTS TO DEPOSITORS OP INSURED BANKS PLACED IN RECEIVERSHIP, 1934-1 937

AS SHOWN BY BOOKS OF FDIC, DECEMBER 31, 1937

Designating

number

Number of depositors Insured deposits1

Name and location

Total Paid by 

FDIC

Fully paid 

by offset2

Unpaid Total Paid Unpaid

Total, 1934-1937 (125 banks)... 162,354 122,427 14,695 25,232 $27,116,687 $26,144,080 $972,607

Total, 1934 (9 banks).............................................................. 15,540 1 1,2 20 919 3,401 942,464 930,182 12,282

Total, 1935 (24 banks)............................................................ 31,612 23,249 2,575 5,788 6,053,521 5,883,490 170,031

Total, 1936 (42 banks)............................................................ 41,695 30,355 4,384 6,956 8,137,649 7,994,073 143,576

Total, 1937 (50 banks)............................................................

1937

73,507 57,603 6,817 9,087 11,983 053 11,336 335 646,718

75 First International Bank, Noonan, North Dakota.................... 492 426 58 8 134,478 134,136 342

76 Sterling State Bank, Sterling, North Dakota............................. 428 255 22 151 82,407 59,031 23,376

78 Bank of Houghton, Houghton, South Dakota........................... 173 123 23 27 46,439 46,257 182

79 Farmers Bank of Trenton, Trenton, Missouri............................ 1,285 1,006 187 92 281,642 280,658 984

80 Farmers State Bank, Corsica, South Dakota............................. 698 629 22 47 134,54*4 133,188 1,356

81 Akaska State Bank, Akaska, South Dakota............................... 238 165 48 25 56,620 56,425 195

82 The Citizens State Bank of Lebanon, Lebanon, S. D................ 419 321 77 21 105,240 105,185 55

83 Texas State Bank and Trust Company, Corpus Christi, Texas. 2,951 1,924 234 793 370,606 358,822 11,784

84 First State Bank, Arlington, Texas............................................ 2,593 1,615 344 634 503,719 495,395 8,324

85 Rio State Bank, Rio, Illinois....................................................... 989 682 247 60 260,092 244,401 15,691

86 Bank of Eureka, Eureka, Missouri............................................. 545 271 89 185 46,716 44,685 2,031

87 The Citizens Bank, Bucklin, Missouri........................................ 622 444 129 49 134,019 133,931 88

88 St. Onge State Bank, St. Onge, South Dakota........................... 285 223 49 13 53,328 53,145 183

89 Whitewood Banking Company, Whitewood, South Dakota. ... 257 190 42 25 72,847 72,571 276

90 The State Bank of Marcellus, Marcellus, Michigan................... 348 221 69 58 60,959 58,649 2,310

91 The Romney Bank, Romney, Indiana........................................ 140 107 1 32 47,882 47,434 448

92 Coloma State Bank, Coloma, Wisconsin.................................... 190 166 12 12 75,147 62,563 12,584

93 Union State Bank & Trust Company, Bryan, Texas................. 1,062 757 269 36 170,106 167,177 2,929

94 Hardin Trust Company, Hardin, Missouri................................. 1,0 1 0 683 273 54 167,791 167,409 382

95 Amite River Bank, Denham Springs, Louisiana........................ 1,197 816 9 372 161,244 145,337 15,907

96 Ghent Deposit Bank, Ghent, Kentucky..................................... 598 434 116 48 175,632 163,717 11,915

97 First State Bank of South San Antonio, Texas.......................... 3,409 1,662 737 1 ,0 1 0 417,558 401,010 16,548

98 Bank of Sturgis, Sturgis, Kentucky............................................ 899 722 113 64 194,516 192,234 2,282

99 Chattooga County Bank, Summerville, Georgia........................

Farmers State Bank of Bainville, Bainville, Montana..............

1,092 728 155 209 178,898 165,830 13,068

100 274 219 25 30 46,319 45,955 364

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Federal Reserve Bank of St. Louis
101

102

103

104

105

106

107

108

109

110

111 112

113

114

115

116

117

118

119 120

121 122

123

124

125

Farmers & Merchants Bank, Newbern, Tennessee.............

Peoples Bank of Bloxom, Inc., Bloxom, Virginia................

The Taylor National Bank of Campbellsville, Kentucky... 

First Bank & Trust Company of Hamilton, Hamilton, Mo. 

The Bank of Noel, Noel, Missouri......................................

The Fort Greene National Bank in N. Y., Brooklyn, N. Y. 

Farmers Bank & Trust Co., Charles Town, West Virginia. ,

The Bank of Galena, Galena, Missouri...............................

Perth Amboy Trust Company, Perth Amboy, New Jersey. 

The Raritan Trust Company, Perth Amboy, New Jersey..

Burt State Bank, Burt, North Dakota...............................

Ringgold State Bank, Ringgold, Texas...............................

Roanoke State Bank, Roanoke, Illinois...............................

Farmers State Bank of Carlisle, Carlisle, Minnesota..........

The Nescopeck National Bank, Nescopeck, Pennsylvania..

Farmers State Bank, Wyndmere, North Dakota................

Farmers & Merchants Bank of Elgin, Elgin, North Dakota

First State Bank, Barbourville, Kentucky..........................

Carter County Commercial Bank, Olive Hill, Kentucky. .. 

Bank of Swifton, Swifton, Arkansas....................................

First State Bank, Center, North Dakota............................

Bank of Alba, Alba, Missouri..............................................

Commercial Bank & Trust Co., Union City, Indiana.........

Nevada Trust Company, Nevada, Missouri.......................

Big Falls State Bank, Big Falls, Wisconsin........................

1,232

321

2,769

3,202

750

2,702

4,198

521

18,973

5,531

194

321

707

295

1,734

397

280

1,967

559

590

347

666

1,782 1,022

253

240

435

1,464

670

57

148,564

49,753

794,231

468,536

96,304

1,488,889

1,063,820

68,119

1,233,053

321,103

32,728

47,314

244,263

67,804

302,339

69,685

34,178

325,101

97,952

105,795

43,241

72,198

609,985

138,513

80,836

146.374 

49,557

782.445 

460,410

66,387

1,460,431

995.375 

66,358

1,233,053

321,103

32,723

42,087

230,497

54,563

183,554

68,601

32,671

298,309

93,881

73,790

41,541

62,591

580.445 

102,704

21,740

2,190

196

11,786

8,126

29,917

28,458

68,445

1,761

5

5,227

13,766

13,241

118,785

1,084

1,507

26,792

4,071

32,005

1,700

9,607

29,540

35,809

59,096

includes all deposits to be paid by FDIC.

includes all depositors whoss claims have been fully paid by counterclaim, by sale of security, or directly by the receiver because of preferred status. 

Back figures—See the following Annual Reports: 1936, p. 200; 1935, p. 229.

<X> SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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T able 154. LOANS MADE TO AND ASSETS PURCHASED FROM INSURED BANKS BY THE FEDERAL DEPOSIT INSURANCE CORPORATION

AUGUST 23, 1935, TO DECEMBER 31, 1937

Name and location

Class

of

bank1

Number Total Disbursement

Successor bank of

accounts deposits Date Amount

Total, 1935-1937 (53 banks)............................

Total, 1935 (1 bank).......................................

Total, 1936 (27 banks)...................................

Total, 1937 (25 banks)....................................

1937

Sargent County Bank

Forman, North Dakota................ C

114,882

12,324

46,258

56,300

792

$39,349,812

4,356,778

16,698,882

18,294,152

154,245 January 16, 1937

$16,703,992

2,862,650

6,730,830

7,110,512

22,367

Havana State Bank 

Havana, North Dakota

The First National Bank of Ismay 

Ismay, Montana........................... A 217 83,281 February 20, 1937 27,026

The Bank of Baker 

Baker, Montana

Robbins Bank & Trust Company 

Robbins, Tennessee....................... C 265 28,979 April 15, 1937 9,432

The First National Bank of Oneida 

Oneida, Tennessee

Farmers & Merchants Trust Bank

Cape Charles, Virginia.................................... C 2,600 843,728 May 22, 1937 487,097

Northampton County Trust Bank2 

Cape Charles, Virginia

The Farmers National Bank of Grayville

Grayville, Illinois............................................. A 1,186 257,686 May 28, 1937 81,987

The Peoples National Bank of Grayville2 

Grayville, Illinois

Carroll Exchange Bank

Carrollton, Missouri........................................ C 2,227 786,733 June 1, 1937 267,651

Carroll County Trust Company 

Carrollton, Missouri

The First National Bank of Mahanoy City 

Mahanoy City, Pennsylvania......................... A 4,162 2,059,933 June 7, 1937 1,332,407

The Union National Bank of Mahanoy City 

Mahanoy City, Pennsylvania

The First National Bank of Pukwana 

Pukwana, South Dakota.................... A 1,104 126,626 June 17, 1937 23,465

Northwest Security National Bank of 

Sioux Falls, S. D. (Chamberlain Branch)

American Bank

Higginsville, Missouri C 1,129 205,676 July 6 , 1937 126,568

Bank of Higginsville 

Higginsville, Missouri

Bank of Anutt

Anutt, Missouri.................................. C 143 32,642 July 13, 1937 14,600

Bank of Salem 

Salem, Missouri

Michigan City Trust & Savings Bank 

Michigan City, Indiana...................... C 2,779 983,307 July 21, 1937 245,770

The First National Bank of Michigan City 

Michigan City, Indiana

Kochan Banking Co.

Maysville, Missouri......................................... C 963 172,634 August 6 , 1937 34,117

The Farmers Bank of Weatherby 

Weatherby, Missouri

The First National Bank of Albertville 

Albertville, Alabama............................ A 2,437 427,993 August 12, 1937 142,623 i

Tennessee Valley Bank

Decatur, Alabama (Albertville Branch)

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Farmers and Merchants Bank....................

Brillion, Wisconsin...................................

Stoneham Trust Company 

Stoneham, Massachusetts..... .........

Westwood Trust Company

Westwood, New Jersey............................

The First National Bank of Lovelady

Lovelady, Texas.......................................

The First National Bank of Perth Amboy

Perth Amboy, New Jersey......................

State Bank of Mundelein

Mundelein, Illinois....................

The Little Ferry National Bank 

Little Ferry, New Jersey......................

The First National Bank in Burlington 

Burlington, Iowa....................................

First State Bank of Cobden

Cobden, Illinois...................

Loganville State Bank

Loganville, Wisconsin.............. .......

Peoples United Bank

Southport, North Carolina..........................

First National Bank and Trust Company of 

Manhasset, New York.................................

c 766 159,026 August 23, 1937 16,245

Calumet County Bank 

Brillion, Wisconsin

c 4,392 808,744 September 13, 1937 265,560

Middlesex County National Bank of Everett 

Everett, Mass. (Stoneham Branch)

B 2,818 647,721 October 1 , 1937 96,943

Peoples Trust Company of Bergen County 

Hackensack, New Jersey

A 457 77,727 October 2, 1937 43,829

The State National Bank of Lovelady 

Lovelady, Texas

A 10,350 3,660,339 October 4, 1937 2,487,278

First Bank and Trust Company2 

Perth Amboy, New Jersey

C 1,406 521,965 October 19, 1937 295,512

First National Bank of Mundelein2 

Mundelein, Illinois

A 3,216 743,641 October 22, 1937 293,597

The City National Bank and Trust Company of 

Hackensack, New Jersey

A 5,648 3,593,953 November 9, 1937 214,360

National Bank of Burlington2 

Burlington, Iowa

C 287 52,287 November 24, 1937 2 2 ,2 0 0

The First National Bank of Cobden 

Cobden, Illinois

C 1,060 488,976 November 29, 1937 230,426

Farmers and Merchants Bank 

Reedsburg, Wisconsin

C 664 161,972 December 3, 1937 35,080

Waccamaw Bank & Trust Company 

Whiteville, N. C. (Southport Branch)

A 5,232 1,214,338 December 20, 1937 294,372

Port Washington National Bank & Trust Co. 

Port Washington, New York

2Newly organized bank.

Back figures—See Annual Report for 1936, p. 202.

; B—State bank member of the Federal Reserve System; C—Bank not member of the Federal Reserve System.

00SUSPENSIONS, RECEIVERSHIPS, AND MERGERS

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INDEX

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INDEX

Absorptions. See Mergers and consolidations.

Actions of Federal Deposit Insurance Corporation. See Federal Deposit 

Insurance Corporation.

Administrative expenses of Federal Deposit Insurance Corporation.............27,28

Admissions to insurance:

Applications approved and disapproved.............................................. 20

By class of bank.............................................................................. 33, 70-72

Number during 1937............................................................. 20, 21, 33, 70-72

Policy of Corporation regarding........................................................... 15

Size of center in which banks were approved during 1937.................. 21

Amendment of Regulation IV ......................................................................... 23,61

Applications from banks:

For loans to facilitate mergers.............................................................. 10-11

To assume deposit liabilities................................................................. 23

To become insured................................................................................ 20

To change location................................................................................ 23

To establish branches............................................................................ 21

To release restricted deposits............................................................... 22-23

To retire or reduce capital.................................................................... 22

Assessments:

Adequacy of............................. ... 14,16

Rate and amount................. ... 14,28

Assets and liabilities of banks:

All commercial banks:

December 31, 1936, June 30, 1937, and December 31, 1937. .. 106

June 30, 1937, compared with 1920 and 1929.......................... 37

Insured commercial banks:

At beginning and close of year.................................................. 35

Call dates, 1934-37.....................................................................108-11

December 31, 1936, June 30, 1937, and December 31, 1937. .. 106 

Insured commercial banks not members of the Federal Reserve 

System:

Averages 1936 and 1937............................................................ 145

Call dates, June 30, 1934, to December 31, 1937................... 112-115

Grouped by amount of deposits......................116-121, 147, 149, 151

Grouped by population of center in which located.................153,155

Grouped by rate of net earnings on total assets.....................157,159

Mutual savings banks.......................................................................... 53, 107

Noninsured banks............................................................................... 106, 107

Assets and liabilities of the Federal Deposit Insurance Corporation.............25,26

Assets, examiners’ analysis of, insured commercial banks not members of 

the Federal Reserve System:

Loss and doubtful, substandard, and not criticized.................38-41, 128-31

Ratios of appraised value to book value..................................38-41, 132-35

Substandard assets, number and deposits of banks with.................... 136

Assets of banks purchased by Federal Deposit Insurance Corporation.

See Loans to insolvent insured banks.

Assets of insured banks, quality of (see also Assets, examiners’ analysis):

During 1937........................................................................................... 3,39

Improvement since admission to insurance......................................... 39

Policy of Federal Deposit Insurance Corporation regarding............... 16

Relation to quality of management...................................................... 47

Assets, percentage change in principal classes of, during 1937, insured 

commercial banks not members of the Federal Reserve 

System........................................................................... 36

185

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Page

Assumption of uninsured deposits. 23

Balance sheet of the Federal Deposit Insurance Corporation.. 26

Bank examinations. See Examinations of banks.

Banking developments, summary o f.

Banking offices, establishment of:

Banks beginning operations............................................................ 32, 70

Banks opened, or opening contemplated, approved for insurance. . 20 

Branches, establishment approved by Federal Deposit Insurance

Corporation.................................................... .. 21

Branches opened....................................................................... 71, 72

Policy of Federal Deposit Insurance Corporation regarding. ... 15

Relation of branch banking to holding company banking.................. 17

Size of centers in which additional offices were approved by Federal

Deposit Insurance Corporation.................................. 21

Banking practices (see also Unsafe and unsound banking practices).. ?

Bank management. See Management of banks, quality of.

Banks beginning operations. See Banking offices, establishment of.

Banks ceasing operations.............................................................................32, 70, 72

Banks operating branches. See Banking offices, establishment of; Number 

of banks operating branches.

Board of Directors of the Federal Deposit Insurance Corporation. 7, 24

Board of Governors of the Federal Reserve System:

Banks cited to.................................................... 13

Examiners' criticism of bank loans................... 42

Review of bank examinations made by.................. 4, 14

Branch banks. See Number of banks operating branches.

Branches. See Banking offices, establishment of; Number of branches.

Capital of banks (see also Assets and liabilities of banks; Earnings, expenses, 

and disposition of profits):

Net capital account:

Definition.................................................................................. 15

Policy of Federal Deposit Insurance Corporation regarding. .. 15

Ratio to assets............................................................................124-25

Ratio to deposits..................................................... 31, 44-46, 124-25

Ratio to total capital account........................................ 44,45,124-25

Relationship to bank management........................................... 47,136

Unsafe and unsound practices................................................. 19

Policy of Federal Deposit Insurance Corporation regarding............... 15-16

Reductions and retirements approved by the Federal Deposit Insurance Corporation.................................................... 22

Rehabilitation of capital of insured commercial banks since 1933......... 43-46

Sound capital......................................................................................... 15

Supplied by Reconstruction Finance Corporation........................43,122,123

Total capital account of all commercial banks 1920,1929, and 1937___ 38

Total capital account of insured commercial banks:

Changes during 1937............................................................. 35, 43-45

Examiners' analysis, banks not members Federal Reserve

System...........................................................................124-27

Relation to deposits and assets............................................. 35, 36, 42

Relation to expansion of loans....................................................35-37

Capital of Federal Deposit Insurance Corporation.......................... 26

Cash and due from banks (see also Assets and liabilities of banks)...............35-36

Changes during 1937 in number and deposits of operating banks. See

Deposits; Number of operating banks.

Chartering of banks. .

186 FEDERAL DEPOSIT INSURANCE CORPORATION

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INDEX 187

Page

Classification of banks and banking offices.......................................... 65-66

Closed banks. See Receivership, insured banks placed in; Suspensions.

Commercial banks. See Assets and liabilities of banks; Capital of banks;

Deposits; Earnings, expenses, and disposition of 

profits; Number of operating banks.

Commercial banking offices. See Number of operating banking offices.

Comptroller of the Currency:

Banks cited to..................................... 18

Director of Corporation.......................... 7

Examiners’ criticism of bank loans............ 42

National banks chartered............................ 20

Review of bank examinations made by......... 4, 14

Consolidations. See Mergers and consolidations.

Demand deposits. See Deposits.

Deposit insurance, participation in. .. .. 3, 9, 32-34, 53

Depositors. See Number of depositors.

Depositors’ claims against closed insured banks. See Receivership, insured 

banks placed in.

Deposits:

Assumption of by other banks.............................. 23

Changes during 1937............................................................................. 34

Classified by type of deposit (see also Assets and liabilities of banks). 34

Definition, for assessment purposes...................................................... 66-67

Demand (see also Assets and liabilities of banks)... 34

Insured. See Insured deposits.

Interbank (see also Assets and liabilities of banks).. 34

Interest on. See Interest.

Of all banks, 1937................................. ...................... 96-99

Of all commercial banks...................................................34, 38, 96-103, 106

Of all insured banks, daily average daring 1937...........................3, 9, 96-99

Of all mutual savings banks.............................................. 96-99,104-05,107

Of banks grouped by:

Amount of deposits (see also Assets and liabilities

of banks)..........................................................96-97, 100-105

Class of bank.............................................................................. 96-99

State and possession................................................................... 98-105

Of banks merged with aid of loans or purchase of assets by the Federal

Deposit Insurance Corporation...........................4, 9, 168-69

Of banks operating branches................................................................ 97

Of insured banks in receivership.......................................................... 176-77

Of insured commercial banks:

Call dates, 1934-37...................................................................109-110

Change during 1937................................................................... 34

Daily average during 1937.........................................................96-103

December 31, 1936, June 30, 1937, and December 31, 1937. .. 106 

Of insured commercial banks not members of the Federal Reserve 

System:

At time of latest examination, 1937__ .. 126-27

Call dates, 1934-37.....................................................................113-15

Daily average during 1937......................................................... 96-99

December 31, 1937, banks grouped by amount of deposits................................................................. 117, 119, 121

Grouped by character of management.... ...........46, 136-37

Of insured mutual savings banks:

Daily average during 1937........................................... 96-99, 104-05

December 31, 1936, June 30, 1937, and December 31, 1937. .. 107

December 31, 1937................................................................... 53

Of noninsured banks:

Average during 1937.................................................................. 96-105

December 31, 1936, June 30, 1937, and December 31, 1937............106, 107

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188 FEDERAL DEPOSIT INSURANCE CORPORATION

Deposits:—Continued. Page

Of suspended banks (see also Receivership, insured banks placed in). .. 164-67

Of unit banks........................................................................................ 96

Paid and unpaid in closed insured banks................................10, 11, 178-79

Payments of, to insured depositors. See Receivership, insured 

banks placed in.

Postal savings deposits (see also Assets and liabilities of banks). . 34

Preferred. See Deposits, secured and preferred.

Public funds (see also Assets and liabilities of banks)......................... 34, 67

Restricted deposits........................................................................ 22-23, 176

Savings and time deposits:

Amount of (see also Assets and liabilities of banks)................. 34

Interest paid on (see also Earnings, expenses, and disposition

of profits)....................................................................... 52-53

Secured and preferred:

Insured banks placed in receivership............................. 10,11,176-77

Insured commercial banks......................................................... I ll

Insured commercial banks not members Federal Reserve

System........................................................................... 115

Sources of data..................................................................................... 65-67

Subject to offset. See Receivership, insured banks placed in.

Uninsured. See Uninsured deposits.

Disposition of profits. See Earnings, expenses, and disposition of profits.

Dividends. See Earnings, expenses, and disposition of profits.

Dividends paid by insured banks placed in receivership... .. 12, 13

Doubtful assets. See Assets, examiners’ analysis of.

Earnings, expenses, and disposition of profits:

All insured commercial banks.............................................. 3, 48-50, 141-43

Insured commercial banks not members of the Federal Reserve

System................................................................50-53,144-45

Insured commercial banks not members of the Federal Reserve 

System operating throughout entire year 1937:

Grouped according to character of dividends paid................... 52

Grouped according to population of center..............152-55, 160, 161

Grouped according to rate of net operating earnings on total

assets................................................................ 50-51, 156-62

Grouped according to rate of net profits or losses on total

assets.................................................................51-52, 161-62

Grouped by average amount of deposits..................146-51, 160, 161

Grouped according to number of offices in center................ 160, 161

Ratios to gross earnings, total assets and total capital account..................................................150-51, 154-55, 158-59

Related to size of bank, size of town, and type of community... 51

Insured mutual savings banks............................................................54, 163

Sources and adjustment of data........................................................... 67

Employees, Federal Deposit Insurance Corporation...................................... 24-25

Examinations of banks (see also Assets, examiners’ analysis of; Capital of 

banks):

Cost o f................................................................................................... 28

In connection with loans to and purchase of assets of insured banks___ 14

Number by Federal Deposit Insurance Corporation, 1937........4, 9, 14, 126

Policy and program................................................................................14, 15

Purposes of............................................................................................ 3,14

Review of examinations made by Comptroller of the Currency and

Board of Governors of the Federal Reserve System. . . . 4,14

Expenses of banks. See Earnings, expenses, and disposition of profits.

Expenses of the Federal Deposit Insurance Corporation............................25,27,28

Failures. See Receivership, insured banks placed in; Suspensions.

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INDEX 189

Federal Deposit Insurance Corporation: Page

Actions regarding:

Applications of banks for admission to insurance................... 20

Assumption of deposit liabilities................................................ 23

Branch banking.......................................................................... 21

Capital of insured banks............................................................ 22

Change of location of insured banks......................................... 23

Loans and purchase of assets to facilitate mergers................... 10-11

Release of restricted deposits.................................................... 22-23

Unsafe and unsound banking practices and violations of law or

regulations..................................................................... 17-19

Balance sheet......................................................................................... 26

Board of Directors................................................................................ 7, 24

Capital and surplus............................................................................... 26

Divisions and committees..................................................................... 8, 25

Employees............................................................................................. 24, 25

Examinations of banks (see also Examinations of banks)............3, 4, 14-15

Income and expenses.........................................................................25,27,28

Investments...........................................................................................26, 28

Liquidating agent for insured banks, appointment as........................... 12-13

Loans to and purchase of assets from insured banks. . . .4, 9, 10-12, 180- 81

Losses incurred......................................................................................25, 28

Officers................................................................................................... 8, 25

Operations............................................................................................. 9-28

Organization and staff.......................................................................... 8, 24

Payments to insured depositors................................................ 9-11, 178-79

Policies...............................................................................................3, 13-17

Powers................................................................................................... 14

Receiver for insured banks, appointment as...........................12-13, 170-71

Recoveries on subrogated claims of insured depositors....................... 12-13

Regulations and rulings........................................................................ 23, 61

Reports to insured banks...................................................................... 28

Federal Reserve Banks, review of bank examinations made by............. 14

Head offices of branch systems. See Number of banks operating branches. 

Holding company banking....................................................................... 1"

Insolvent banks (see also Loans to insolvent insured banks; Mergers and 

consolidations; Receivership, insured banks placed in; 

Suspensions)................................................................ 4, 9-13

Insurance coverage. See Insured deposits.

Insured banks. See:

Admissions to insurance;

Assets and liabilities of banks;

Assets, examiners’ analysis of;

Capital of banks;

Classification of banks and banking offices;

Deposits;

Earnings, expenses, and disposition of profits;

Examinations of banks;

Loans of commercial banks;

Management of banks, quality of;

Mergers and consolidations;

Number of banks operating branches;

Number of branches;

Number of operating banking offices;

Number of operating banks;

Receivership, insured banks placed in;

Regulations and rulings;

Securities;

Suspensions;

Terminations of insurance;

Unsafe and unsound banking practices.

Insured commercial banks, developments during 1937 affecting (see also Insured banks).................................................................. 31-52

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Insured commercial banks not members of the Federal Reserve System (see also Insured banks).....................................38-42, 43-47

Insured deposits (see also Number of depositors):

Amount.................................................................................................. 3, 9

Of bank in voluntary liquidation without adequate provision for

payment of depositors.................................................. 9

Of insolvent banks merged with aid of loans by Federal Deposit Insurance Corporation.............................................. 11, 180-81

Of insured banks placed in receivership................................... 9-11, 176-79

Insured mutual savings banks (see also Mutual savings banks).............53-54, 163

Insured State banks members of the Federal Reserve System. See Insured 

banks.

Interbank deposits. See Deposits.

Interest:

On deposits:

Rate o f....................................................................................... 52-53

Regulation of Corporation regarding.............. ......................... 23, 61

On loans and securities, rate of, 1934-37.............................................. 52-53

On preferred capital held by Reconstruction Finance Corporation,

reduction o f................................................................... 22

Investments. See Assets and liabilities of banks; Unsafe and unsound 

banking practices.

Investments of the Federal Deposit Insurance Corporation. . . .26, 28

Law, State, regarding deposit insurance.. 24

Liquidation, banks placed in:

Banks in a weakened position......... .. 9, 12

Banks operating under restrictions...................................................... 32, 70

Number............................................................................................. 32,33,70

With Federal Deposit Insurance Corporation liquidating agent........... 12-13

Without adequate provision for payment of depositors...................... 9, 171

Loans of commercial banks (see also Assets and liabilities of banks; Assets, 

examiners’ analysis of; Unsafe and unsound banking 

practices):

All commercial banks, quality in 1920, 1929, and 1937.. 37

Insured commercial banks:

Criticized by examiners, by class of bank........................... 42

Expansion during 1937............................................................ 35-36

Policy of Federal Deposit Insurance Corporation regarding. .. 3, 16 

Insured commercial banks not members of the Federal Reserve 

System, examiners’ analysis:

Classified as loss and doubtful, substandard and not criticized.. 130-31 

Ratios of appraised to book value.................... 41-42,134-35,138-39

Loans to insolvent insured banks by Federal Deposit Insurance Corporation:

Action of Corporation on applications. ............... 10-11

Amounts and number of loans............... ....... 11-12,180-81

Losses incurred by Corporation...................... ............................25, 28

Names and location of banks to which made...................................... 180-81

Number and deposits of banks merged with aid of loans................... 168-69

Recoveries by Corporation on assets purchased or held as collateral. . . 13

Location of insured banks, changes approved by the Federal Deposit Insurance Corporation...................................................... 23

Losses of the Federal Deposit Insurance Corporation. ... -----25, 28

Management of banks, quality of:

Banks cited for unsafe and unsound banking practices...................... 19

Insured commercial banks not members of the Federal Reserve

System..............................................................46-47, 136-37

Relation to quality of bank assets....................................................... 16

Relation to sound banking structure.............................................. 14

190 FEDERAL DEPOSIT INSURANCE CORPORATION

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INDEX 191

Mergers and consolidations: Pa2e

AssumDtion of deposit liabilities........................................................... 23

During 1937.....................................................................................32-34, 70

Of insolvent insured banks with aid of loans or purchase of assets by

Federal Deposit Insurance Corporation.. 10-12, 70, 168-69,

180-81

Mergers and liquidations of insured banks in a weakened condition.. 9, 12

Morris Plan banks, classification o f.. 65

Mutual savings banks:

Assets and liabilities............... ...............53, 107

Classification of.................. ...................... 65

Deposits................................................................................... 96-99, 104-05

Number........................................................................................... 69, 88-89

National banks. See Comptroller of the Currency; Insured banks.

New banks. See Banking offices, establishment of.

Noninsured banks. See:

Assets and liabilities of banks;

Capital of banks;

Classification of banks and banking offices;

Deposits;

Mergers and consolidations;

Number of banks operating branches;

Number of operating banking offices;

Number of operating banks;

Number of branches;

Suspensions;

Uninsured deposits.

Number of accounts. See Number of depositors.

Number of banks operating branches:

By amount of deposits............................ ....S3, 93

By amount of deposits at head offices......... .............81, 93

By character of branch system............................. ................... 90-91

By class of bank..............................................................................73-79, 81

By number of offices in centers in which head offices are located. . . . 95

By population of centers in which head offices are located.............90, 93, 95

By States and possessions......................................................... 73-79, 90-91

Change during 1937..............................................................................31, 32

December 31, 1935, 1936, and 1937........................ ...................68, 69

Number of branches:

According to location in relation to head office..............................31, 90-91

By amount of deposits.......................................................................... 81, 93

By class of bank.............................................................................. 73-79, 81

By number of offices in centers in which located. . .................... 95

By population of centers in which located.......................................90,93, 95

By States and possessions......................................................... 73-79, 90-91

Change during 1937...................................................................31, 32, 71, 72

December 31, 1935, 1936, and 1937....................................................68, 69

Establishment approved by Federal Deposit Insurance Corporation.. 21

Number of depositors:

All insured banks......................... ................. 3, 9

Insolvent insured banks closed... . .4, 9-11, 178-81

Number of operating banking offices:

Additional offices approved by Federal Deposit Insurance Corporation 21

All offices...............................................................................................68, 73

By amount of deposits...............................................................80-81, 92-93

By class of bank..............................................................................68, 73-81

By number of offices in center in which located.................................. 94-95

By population of center in which located............................................ 92-95

By States and possessions................................... .................... 73-79

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192 FEDERAL DEPOSIT INSURANCE CORPORATION

Number of operating banking offices:—Continued. Pase

By type of office...................................................................31, 73-81, 92-95

Changes during 1937....................................................................... 32, 70-72

Classification................................................ ........................................ 65-66

Of commercial banks...................................................... 68, 70, 73-81, 92-95

Of insured banks.....................................................................32,68-81,92-95

Of mutual savings banks................................................................. 69, 88-89

Of noninsured banks............................................................................. 68-81

Number of operating banks:

All banks................................................................ .................68, 73

All commercial banks...................................................................... 31,68,106

All mutual savings banks....................................................................69, 107

Approved for admission to insurance................................................... 20

By amount of deposits...............................................................82-89, 92-93

By class of bank.................................................................................... 68-83

By number of offices in center in which located..................................94, 95

By population of center in which located............................................ 92-95

By States and possessions..........................................................73-79, 84-91

Changes during 1937................................................................. 32-34, 70-72

Classification......................................................................................... 65-66

Insured commercial banks:

Call dates, 1934-37..................................................................... 108

Changes during 1937...................................................... 32-34, 70-71

December 31, 1935, 1936, and 1937......................................... 68

December 31, 1936, June 30, 1937, and December 31, 1937. .. 106

December 31, 1937..................................................................... 73-87

For which earnings statements are tabulated....................... 141, 142

Insured commercial banks not members of the Federal Reserve 

System:

Call dates, 1934-37..................................................................... 112

Changes during 1937................................................................. 70-71

December 31, 1935, 1936, and 1937......................................... 68

December 31, 1937..................................................................... 73-83

Examined during 1937...............................................................126-27

For which earnings statements are tabulated. 144, 146, 152, 156, 161

Grouped by character of management.............................. 46, 136-37

Operating throughout 1937........................................................ 146

Insured mutual savings banks:

Changes during 1937................................................................. 72

December 31, 1935, 1936, and 1937......................................... 69

December 31, 1936, June 30, 1937, and December 31, 1937. .. 107

December 31, 1937....................................................................53, 82

Noninsured banks:

Changes during 1937............................................................33, 70-71

December 31, 1935, 1936, and 1937......................................... 68-69

December 31, 1936, June 30, 1937, and December 31, 1937. .106-107

December 31, 1937..................................................................... 73-89

Suspending operations, insured and noninsured, 1934-37 .................. 164

Unit banks.................................................................31, 73-79, 80, 82, 92, 94

Officers and employees of the Federal Deposit Insurance Corporation......... 24-25

Operating banks. See Number of operating banks.

Payments to depositors in closed insured banks. See Receivership, insured 

banks placed in.

Postal savings deposits. See Deposits.

Preferred deposits. See Deposits, secured and preferred.

Preferred stock. See Capital of banks.

Profits. See Earnings, expenses, and disposition of profits.

Protection to depositors. See Insured deposits; Deposits, secured and preferred; Capital of banks, policy of Federal Deposit 

Insurance Corporation regarding.

Public funds. See Deposits.

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INDEX 193

Purchase of bank assets by Federal Deposit Insurance Corporation. See Page 

Loans to insolvent insured banks by Federal Deposit 

Insurance Corporation.

Receivership, insured banks placed in:

Assets and liabilities of, at date of suspension, 1934-37.................... 172-175

Date of suspension and year of organization.......................................170-71

Deposits:

Insured, paid and unpaid by December 31, 1937..........10,11,178-79

Insured, secured, preferred, subject to offset.................10,11,176-77

Secured, preferred and subject to offset, paid and unpaid by

December 31, 1937........................................................ 11

Uninsured, unsecured, not preferred and not subject to

offset...................................................................10,11,176-77

Depositors:

Date of first payment to ........................................................... 170-71

Number fully protected, paid and unpaid...........................10,178-79

Payments to ..................................................................... 9-11,178-79

Liquidation o f....................................................................................... 12

Losses by Federal Deposit Insurance Corporation on depositors’

claims paid.................................................................... 25, 28

Names and location of, during 1937...................................................170-171

Receivers, names of............................................................................ 170-171

Recoveries by Federal Deposit Insurance Corporation on subrogated

claims against............................................................... 12, 13

Reconstruction Finance Corporation investment in capital of banks:

Amount...................................................................................43, 53, 122, 123

Examinations by Federal Deposit Insurance Corporation in connection

with................................................................................ 15

Retirements..............................................................................22, 45, 54, 123

Regulations and rulings:

Issued by Federal Deposit Insurance Corporation during 1937......... 23, 61

Violations by insured banks................................................................. 19

Repayments to the Federal Deposit Insurance Corporation.. .. 12-13

Reports from banks........................................................ 23

Savings and time deposits. See Deposits.

Secured and preferred deposits. See Deposits.

Securities (see also Assets and liabilities of banks; Unsafe and unsound banking practices):

Effect of changing market value upon bank holdings and profits. . . .41, 49

Held by Federal Deposit Insurance Corporation................................ 26

Held by insured commercial banks not members Federal Reserve 

System, examiners' analysis:

Classified as loss and doubtful, substandard, and not criticized.........................................................................40,128-29

Policy of Federal Deposit Insurance Corporation regarding... 3, 16-17

Ratios of appraised to book values....................................132-33,140

Types and quality................................................................ 40-41,140

State banks members of the Federal Reserve System. See Insured banks.

State banks not members of the Federal Reserve System. See Insured banks; 

Noninsured banks.

State bank supervisory authorities, banks cited to... 18

State legislation regarding deposit insurance___ 24

Substandard assets. See:

Assets, examiners’ analysis;

Loans of commercial banks;

Management of banks, quality of;

Securities held by insured commercial banks not members Federal 

Reserve System.

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194 FEDERAL DEPOSIT INSURANCE CORPORATION

Suspensions (see also Receivership, insured banks placed in): Page

All commercial banks........................................................................ 32, 70,164-67 Banks cited for unsafe and unsound banking practices......................... 18 Insured banks.......................................... . 9-10, 33, 70,164-67

Terminations of insurance:

For unsafe and unsound banking practices and violations of law cr regulations.........................................................................18,20, 34 Number. ..................... 33-34

Uninsured deposits:

Assumption by insured banks... ............ 23 Of banks in receivership.................................... .. 10,11,176-77

Unit banks. See Deposits; Number of operating banks.

United States Government obligations (see also Assets and liabilities of banks):

Held by commercial banks 1920, 1929, and 1937. . 37 Held by Federal Deposit Insurance Corporation. .26, 28

Unsafe and unsound banking practices:

Action of Federal Deposit Insurance Corporation. .4, 17-19 Number of banks cited to supervisory authorities. 18 Types of, for which banks were cited.................................. 19

Unsecured deposits. See Receivership, insured banks placed in.

Violations of law or regulations. i, 17-19

Worthless assets. See Assets, examiners’ analysis of.

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Federal Reserve Bank of St. Louis