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STATE BANKING DEPARTMENT

REPORT OF THE COMMISSIONER.

STATE OF MICHIGAN, Banking Department, Lansing, December 31, 1922.

To the Honorable Alex. J. Groesbeck, Governor, State of Michigan :

Agreeable to the provisions of section 43 of the General Banking Law of Michigan, I have the honor to submit for your consideration the thirty-fourth annual report of this department for the year ending December 31, 1922.

During the past year a continued growth will be observed, as shown by abstracts of statements as of September 6, 1921, and call of September 15, 1922. Between these dates total banking resources increased $48,632,413.62 or 4.91 per cent.

The general tendencies of the year up to September 15, 1922, as reflected in the condition of Michigan state banks are indicated by the following comparative statement:

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Since September 6, 1921, the general tendency has been toward a reduction in loans and discounts and bills payable and rediscounts.

I take pleasure in presenting the detailed statistics outlining the activities of this Department and the condition of the institutions under its supervision in the following pages.

Respectfully submitted,

HDm Devon

Commissioner of the Banking Department.

REPORT OF COMMISSIONER.

NUMBER OF STATE BANKS AND TRUST COMPANIES.

There are at the date of this report, under the supervision of the Department, 568 state banks, 2 industrial banks and 11 trust companies transacting business in Michigan.

FINANCIAL CONDITION.

Reports showing the condition of all state banks and trust companies will be found on pages 3 to 301 inclusive. Reports of condition were called for by the Department and made by the banks at the close of business, December 31, 1921, March 10, May 5, June 30, September 15, and December 29, 1922. The report of September 15, as to each state bank will appear in the Department's annual report for the year 1922. In order that the annual report may be in the hands of the public in time to be of use as a book of reference, this plan of publishing eports has been adopted.

Statements of condition of each national bank in Michigan will be found on pages 305 to 364 inclusive.

Again included are the statistics of the state and national banks located in Detroit and statistics of the state and national banks by counties.

NUMBER OF EXAMINATIONS.

The examining staff of the Department, during the year 1922, made examinations, as follows:

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All state banks have been examined during the year as well as 9 trust companies.

Preliminary examinations consist of examinations of new banks under Section 7 of the Banking Law, which is incumbent upon the Department to make precedent to the issuance of certificate of authority to commence business.

Reports of examiners as to condition of the several state banks have been carefully scrutinized and letters of criticism written the banks. Such letters, as well as replies thereto, are made a part of the directors' records in each bank.

All state banks, with the exception of those organized during the year, have made five reports of condition, two reports of earnings and dividends, two reports showing results of directors' examinations, and also special reports whenever the Department has deemed it necessary to require the same.

Oaths of directors, signatures of officers, and list of stockholders, together with a report as to the number of depositors, are furnished the Department each year

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