Commissioner of Banking and Insurance

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Commissioner of Banking and Insurance You Are Viewing an Archived Copy from the New Jersey State Library STATE OF NEW JEHSEY ANNUAL REPORT OF THE COMMISSIONER OF BANKING AND INSURANCE RELATIVE TO SAVINGS BANKS, TRUST COMPANIES AND STATE BANKS OF DISCOUNT AND DEPOSIT, PRIVATE BANKERS, CREDIT UNIONS, PROVIDENT LOAN ASSOCIATIONS, SMALL LOAN BROKERS AND PAWNBROKERS FOR THE YEAR ENDED DECEMBER 31, 1947 You Are Viewing an Archived Copy from the New Jersey State Library Table of Contents PAGES Report of Commissioner ..................................................................................v to xxvii Aggregate Resources and Liabilities All State Institutions ...................................................................... vii Trust Companies .............................................................................. viii State Banks ........................................................................................ xii Savings Banks .................................................................................. xiii Savings Associations ........................................................................ xv Stock Savings Bank ........................................................................ xvi National Banks .................................................................................. xviii Credit Unions .................................................................................... xx Small Loan Licensees ...................................................................... xxi Pawnbrokers ...................................................................................... xxiii Provident Loan Associations .......................................................... xxiv Cemetery Associations .................................................................... xxv Money Remitters .............................................................................. xxvii Foreign Banking Institutions authorized to transact business in the State of New Jersey ........................................................................ xvii Condition of Banks in Liquidation ...................................................... xix STATISTICS Banks and Trust Companies, 1900-1947 ...................................................... ( 1) Mutual Savings Banks, 1900-1947 .................................................................. ( 1) SAVINGS BANKS Table 1-List of institutions with dates of incorporation and com­ mencement of business and names of presidents and treasurers ····--------····--····--····················--·····-·····-·················· 2- 3 Table 2-Resources and Liabilities, December 31, 1947 ........................ 4- 7 Table 4-Unclaimed deposits exceeding fifty dollars, December 31, 1947 ----·-·····--····-·················································· 8-15 Table 5-Condition as found by the latest official examinations made to December 31, 1947 .............................................................. 16-17 TRUST COMPANIES New York Federal Reserve District Table 1-List of companies in the Second Federal Reserve District with dates of incorporation and certificates of authority issued and names of presidents and treasurers ................ 18-21 Table 2-Resources, December 31, 1947 .................................................. 22-25 Table 3-Liabilities, December 31, 1947 .................................................... 26-29 (iii) You Are Viewing an Archived Copy from the New Jersey State Library iv TABLE OF CONTENTS TRUST COMPANIES Philadelphia Federal Reserve District PAGES Table 1-List of companies in the Third Federal Reserve District with dates of incorporation and certificates of authority issued and names of presidents and treasurers ---··-··--··--·--- 30-31 Table 2-Resources, December 31, 1947 --····-············-·····-·-··-··-···-·--··-----···· 32-33 Table 3-Liabilities, December 31, 1947 -·········--····-·-··-·-··-··-···-·--·····-··--·--·- 34-35 STATE BANKS Table 1-List of banks in New York and Philadelphia Federal Reserve Districts with dates of incorporation and certificates of authority issued and names of presidents and cashiers ---- 36-37 Table 2-Resources, December 31, 1947 ······--·················-··-·····-··-···········--- 38-39 Table 3-Liabilities, December 31, 1947 -················-··-·-····-··--·-·················- 40-41 CREDIT UNIONS List of credit unions with dates of incorporation and com­ mencement of business and names of presidents and treasurers ······-····-··········-····························································- 42-43 Schedule of assets, liabilities, receipts, disbursements, mis- cellaneous ................................................................................... 44-45 PROVIDENT LOAN ASSOCIATIONS List of provident loan associations with dates of incorpora­ tion and commencement of business and names of pres- idents and treasurers ................................................................ 56-57 Schedule of assets, liabilities, receipts and disbursements .... 56-57 SMALL LOAN LICENSEES Table 1-Assets, December 31, 1947 -········-····-····-·····················-·······-········ 58-63 Table 2-Liabilities and Income, December 31, 1947 -----·-···········------·--- 64-69 Table 3-Expense and Profit, December 31, 1947 -············-··················--·· 70-75 PAWNBROKERS Table 1-Assets, December 31, 1947 ···-·-············-···-····-·····-···-····-·········-··-·· 76-77 Table 2-Liabilities, December 31, 1947 ·······--·····-··--··-····-···--·-···-····---------- 78-79 Table 3-Income and Initial Surplus or Net Worth, December 31, 1947 80-81 Table 4-Expense and Surplus or Net Worth, December 31, 1947 .... 82-83 You Are Viewing an Archived Copy from the New Jersey State Library ANNUAL REPORT DEPARTMENT OF BANKING AND INSURANCE BUREAU OF BANKING February 10, 1948 To the Honorable the Senate and General Assembly: In compliance with the statute, I have the honor to submit the report of this Department relating to trust companies, state banks of discount and deposit, savings banks, stock savings bank, savings associations, banks in liquidation, credit unions, provident loan associations, small loan brokers, pawnbrokers, and cemetery associations, for the year ending December 31, 1947. The number, total resources, capital, debentures, surplus and undivided profits and deposits, as reported by the trust companies, state banks of discount and savings banks, for December 31, 194 7 (amounts in thousands of dollars), are given in the following summary: AGGREGATE RESOURCES, CAPITAL, DEBENTURES, SURPLUS, UNDIVIDED PROFITS AND DEPOSITS December 31, 194 7 (Amounts in thousands of dollars) Surplus Total Capital Stock Undivided No. Resources and Debentures Profits Deposits 104 Trust companies ---------- $2,178,904 $52,504 $ 79,666 $2,025,502 26 State banks ---------------- 197 ,043 5,325 7,235 183,097 24 Savings banks ------------ 568,535 300* 53,349 504,798 154 Totals -------------------------- $2,944,482 i58,i29 ·~ $2,713,}97 • Capital debentures one institution. Deposits of all reporting institutions amounted to $2, 713,- 397,000, of which $1,190,094,000 were demand and $1,523,- 303,000 time deposits, an increase of $72,814,000. A de­ crease of $35,883,000 is noted however in United States You Are Viewing an Archived Copy from the New Jersey State Library vi BANK REPORT Government deposits due to further withdrawals of war loan funds. Total deposits in the 130 commercial institutions showed $2,208,599,000, an increase of . 7 % , while the de­ posits in the 24 mutual savings banks amounted to $504, 798,- 000, an increase of 12.6 % . Time deposits of individuals, partnerships, and corporations, reported by all institutions increased 5.2 %, while the total demand deposits of individ­ uals, partnerships, and corporations, increased 3 .4 %. Of the 130 commercial banks with $2,208,599,000 in de­ posits, 78 with deposits of $1,677,695,000, or 76%, were members of the Federal Reserve System, leaving deposits of $530,904,000, or 24%, held by the 52 nonmembers. All except one of the institutions accepting deposits were members of the Federal Deposit Insurance Corporation. Government securities made up 51. 9 % of the total assets as compared with 5 6. 7 % a year ago, while cash represented 14.1 % of the total as against 13. 7 % . These two items, therefore, accounted for 66 % of the total assets. Loans and discounts plus mortgage loans, in the commercial banks, increased 22.4 % during the year and represented 22.1 % of their assets. Mortgage loans and other loans in the savings banks increased 22 % and comprised 19.9 % of their assets. The total of the banking plants and real estate owned in the commercial banks, other than sold under agreement, showed a ratio of 18.5 % of the total capital accounts as com­ pared with 19 % in December 1946. The comparable ratio for the mutual savings banks showed 7.4 % of surplus and reserves as against 8.4 % a year ago. The total capital accounts of the commercial banks repre­ sented 7 % of their total deposits as compared with 6.8 % a year ago. The comparable ratio for the mutual savings banks showed 12.2% as compared with 12.1 %. During the year 1947 the single stock savings bank of the state converted to a trust company and the two specially chartered savings associations supervised converted to savings banks. The figures of the latter two associations are re­ flected in the savings bank totals for the first time and hence serve to augment slightly the increases shown in the compara­ tive figures and ratios. You Are Viewing an Archived
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