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STATE BANKING DEPARTMENT

REPORT OF THE COMMISSIONER.

STATE OF MICHIGAN. Banking Department. Lansing, December 31, 1925.

To the Honorable Alex J. Groesbeck, Governor, State of Michigan:
The thirty-seventh annual report of the Commissioner of the Banking Department for the
State of Michigan is herewith submitted in compliance with Section (43) of the general banking
laws for the year ending December 31, 1925.

During the past year a continued growth is noted in Michigan banks as evidenced by a comparison of the total resources as shown by the call of October 8, 1924 and the call of September 28, 1925. The October 8, 1924 showed total resources of 586 state banks, 2 industrial banks and 12 trust companies were $1,268,746,262.24, and on the call of September 28, 1925 total resources of the 582 state banks, 2 industrial banks and 18 trust companies were $1,453,108,186.10, showing a net increase for the year of $184,361,923.86.

A review of the calls herewith submitted would indicate that this growth signifies a prosperous condition in Michigan as the principal item of increase was in the deposit account.

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10-8-24

$369,911,870 28

9-28-25 $403,349,186 39 Increase 8.76%

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29.514%
10.033%

20.827% 9.757%

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

Respectfully submitted,

Commissioner of the Banking Department.

REPORT OF THE COMMISSIONER.

NUMBER OF STATE BANKS AND TRUST COMPANIES,

There are at the date of this report, under the supervision of the Department, 585 state banks, 2 industrial banks and 20 trust companies transacting business in Michigan.

FINANCIAL CONDITION.

Reports showing the conditions of all state banks and trust companies will be found on pages 3 to 325 inclusive. Reports of condition were called for by the Department and made by the banks at the close of business December 31, 1924, April 6, 1925, June 30, 1925, September 28, 1925 and December 31, 1925, The report of September 28, 1925 as to each state bank and trust company will appear in the Department's annual report for the year 1925.

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 reports has been adopted.

Statements of condition of each national bank in Michigan will be found on pages 329 to 392 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 1925 made examinations as follows: First examinations

Second examinations..
Preliminary examinations.
Special Examinations.

585

374

13

1

973

All state banks have been examined during the year as well as each of the 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.

All state banks with the exception of those organized during the year have made four reports of condition, two reports of earnings and dividends, two reports showing results of directors' examination 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 by each

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