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Download (Pdf) STATISTICAL SUPPLEMENT to the 1966 Annual Report The Administrator of National Banks William B. Camp Comptroller of the Currency THE UNITED STATES TREASURY, WASHINGTON Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis U.S. GOVERNMENT PRINTING OFFICE WASHINGTON : 1967 For sale by the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402 - Price $1.25 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis TREASURY DEPARTMENT, OFFICE OF THE COMPTROLLER OF THE CURRENCY, Washington, D.C., September 1,1967. SIRS: I am pleased to submit the Statistical Supplement to the 1966 Annual Report of the Comptroller of the Currency. Respectfully, WILLIAM B. CAMP, Comptroller of the Currency. THE PRESIDENT OF THE SENATE THE SPEAKER OF THE HOUSE OF REPRESENTATIVES Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Contents Title of Section Page I. The National Banking System in 1966 2 A. Assets, Liabilities, and Capital Accounts 3 B. Income and Expenses of National Banks 3 C. Structural Changes in the National Banking System 4 II. Financial Operations of the Office of the Comptroller of the Currency, 1966 16 Appendices A. Merger Decisions, 1966 22 B. Statistical Tables 116 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis I. The National Banking System In 1966 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis INDEX Statistical Tables Table No. Title Page Table No. Title Page 1 Assets, liabilities, and capital of National banks, 1965 6 Branches of National banks: in operation December and 1966. 5 31, 1965, opened, discontinued, or consolidated, 2 Income and expenses of National banks, 1965 and calendar 1966; and branches in operation Decem- 1966. 6 ber 31, 1966 11 3 Number of National banks and banking offices, by 7 Status of de novo branch applications of National States, December 31, 1966 7 4 Status of applications for National bank charters, and banks, by States, calendar 1966 12 charters issued, by States, calendar 1966 9 8 De novo branches of National banks opened for busi- 5 Status of applications for conversion to National bank ness, by community size and size of bank, calendar charters, and charters issued, by States, calendar 1966 13 1966 10 9 Mergers, calendar 1966 13 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis I. The National Banking System in 1966 A. Assets. Liabilities, and Capital B. Income and Expenses of National Accounts Banks Total assets of National banks grew to $236.0 billion The continuation in 1966 of the shift in bank assets at the end of 1966, an increase of $16.9 billion or 7.7 from securities to loans influenced the pattern of bank percent from the end of 1965. The principal asset cate- operating revenues. gories showed the following increases during 1966: Net income after taxes of National banks in 1966 Loans and discounts, 8.6 percent, from $116.8 to $126.9 totaled $1.58 billion, a 14.1 percent increase over the billion; securities, 0.6 percent, from $57.3 to $57.7 bil- $1.39 billion figure for 1965. Current operating reve- lion; cash and cash items, 13.0 percent, from $36.8 to nue reached $11.3 billion, a 16.5 percent increase. $41.7 billion. As a result of these differential rates of However, current operating expenses showed an even higher percentage increase of 17.6 percent, and growth, the proportion of loans and discounts to total equaled $8.5 billion for the year. Net current operating assets inched upward from 53.3 percent to 53.8 per- earnings for 1966 were $2.8 billion, a figure 13.4 per- cent, while the ratio of securities to total assets dropped, cent higher than that for 1965. from 26.1 percent to 24.4 percent. Interest and discount on loans spurted by 18.8 per- National bank holdings of U.S. Government obli- cent, to a 1966 figure of $7.58 billion. This represented gations declined by 4.8 percent during 1966, to $30.4 67.0 percent of 1966 current operating revenue, an billion. This movement nearly duplicated the 1965 increase from the 65.7 percent contribution of loan decline of 4.9 percent. Meanwhile, holdings of State income in 1965. Higher interest rates led to a slight and local obligations increased by 5.5 percent, from increase in the revenue received from U.S. Government $22.5 billion to $23.8 billion. Holdings of securities of obligations, $1.23 billion from $1.21 billion, despite Federal agencies and corporations showed by far the the absolute decline in bank holdings of these obliga- largest percentage increase, 27.0 percent, although the tions already noted. The proportion of operating reve- dollar amount, $3.0 billion at the end of 1966, remained nue stemming from U.S. obligations dropped from relatively small. 12.5 percent in 1965 to 10.9 percent in 1966. The con- Total deposits of National banks increased by 6.5 tribution of other securities increased slightly, from 7.8 percent, from $193.9 billion to $206.5 billion. Of the percent to 8.0 percent of operating revenue. $12.6 billion increase, time and savings deposits ac- About 58 percent of the $1.27 billion increase in cur- counted for $8.1 billion. At the end of 1966, total time rent operating expenses of National banks was ac- counted for by the $731 million increase in interest paid and savings deposits stood at $94.1 billion, equal to on time and savings deposits. Interest paid represented 45.6 percent of total deposits. The share of total de- 44.0 percent of current operating expenses in 1966, posits accounted for by time and savings has risen having climbed from 38.2 percent in 1964 and 41.6 steadily in recent years, from 41.8 percent at the end percent in 1965. Approximately $200 million of the of 1964 and 44.4 percent a year later. other increased expenses were due to larger amounts Total capital of National banks reached $18.5 bil- expended on officers' and employees' salaries and lion at the end of 1966, having increased 5.9 percent wages. during the year. The ratio of capital to total assets Net operating earnings of $2.81 billion were reduced declined very slightly, from 7.96 percent to 7.82 by $624 million of nonoperating adjustments to arrive percent. at $2.19 billion of net income before related taxes. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Federal and State income taxes for 1966 equaled $607 two (Arkansas, Florida, Missouri, and Wisconsin), and million, compared to $612 million in 1965. Total cash one receiving three (Texas). Twenty-five charters were dividends declared of $738 million were larger than issued for the conversion of State banks to National the 1965 figure by 8.0 percent, and represented 47 banks. percent of the 1966 after-tax net income. During 1966, 694 branches opened for business as National bank branches, including 548 de novo C. Structural Changes in the Na- branches and 146 branches of either converted banks or banks acquired through merger. During the tional Banking System same period, 47 branches were discontinued or con- solidated. Of the 548 de novo branches, 152, or 28 per- At the end of 1966, there were 4,799 operating Na- cent, were located in communities with a population tional banks, compared with 4,815 a year earlier. Of of less than 5,000, and 329, or 60 percent, were in these, 1,402 were operating 9,404 branches. The total communities under 25,000. Of the same 548 branches, number of banking offices operated by National banks 220, or 40 percent, were opened by banks with less at the end of 1966 was 14,203. This represents an than $25 million in total assets. increase of 630 during 1966. Seventy-five bank mergers, consolidations, and pur- Twenty-four National bank charters were issued for chases in which the resulting bank was a National bank newly organized banks in 1966. These were scattered were consummated during 1966. This compares with among 18 States, with 13 receiving one, four receiving 91inl964and76inl965. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis TABLE 1 Assets, liabilities, and capital of National banks, 1965 and 1966 [Dollar amounts in millions] Dec. 31, 1965 Dec. 31, 1966 Change, 1965-66 4,815 banks 4,799 banks Amount Percent Amount Percent Amount Percent distribution distribution ASSETS Cash, balances with other banks, and cash items in process of collection $36, 880 16.83 $41, 690 17.67 $4, 810 13.04 U.S. Government obligations, direct and guaranteed.... 31,896 14.56 30, 355 12.86 — 1, 541 -4.83 Obligations of States and political subdivisions 22, 541 10.29 23, 778 10.08 1,237 5.49 Securities of Federal agencies and corporations not guaranteed by United States 2,383 1.09 3,026 1.28 643 26.98 Other bonds, notes, and debentures 490 0.22 509 0.22 19 3.88 Total securities 57, 310 26.16 57, 668 24.44 358 0.62 Securities purchased under agreements to resell 573 0.24 573 Federal funds sold .... 1,433 0.66 1, 728 .73 295 20.59 Direct lease financing.. 271 . 12 331 . 14 60 22. 14 Loans and discounts 116,833 53.32 126, 881 53.76 10, 048 8.60 Fixed assets 3, 158 1.44 3,451 1.46 293 9.28 Customers' liability on acceptances outstanding 926 .42 1,077 .46 151 16.31 Other assets 2,292 1.05 2,597 1.10 305 13.31 Total assets 219, 103 100.
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