Following the small deficit made by the bank in its first period of trading, September 1st 1919 to March 31st 1920 (see The Bank in 1920), excellent progress was made over the next seven years. The year 1926/27 was the first in which the published Annual Report (see below) contained a formal Income and Expenditure Account. For the periods covering September 1st 1919 to March 31st 1926, a Receipts and Payments Account accompanied the annual Balance Sheet. The following figures have been extracted from those Receipts and Payments Accounts to show the cumulative profits made in the period:

 

 

Year-Ended March 31st	Profit (£)	Cumulative Profit (£)
1920 (7 months)	(1,702)	(1,702)
1921	6,539	4,837
1922	6,655	11,492
1923	9,693	21,185
1924	9,429	30,614
1925	10,463	41,077
1926	14,432	55,509
1927	15,301	70,810

The Cumulative figures shown above represent the accumulated totals of the Excess of Income over Expenditure for the period. In addition, there were transactions on the Reserve Fund as follows (£):

 

1922	Repayment to Borough Fund and Rate Account re Deficit of Birmingham Corporation Savings Bank	(3,000)
1922	Contributions by Bank Staff to Superannuation Scheme	340
1923	Repayment to Borough Fund and Rate Account re Deficit of Birmingham Corporation Savings Bank	(4,149)
1923	Contributions by Bank Staff to Superannuation Scheme	365
1923	Profit on Sale of Investments	34,156
1924	Contributions by Bank Staff to Superannuation Scheme	483
1925	Contributions by Bank Staff to Superannuation Scheme	477
1926	Contributions by Bank Staff to Superannuation Scheme	511
	Total:	29,183

The net amount of these transactions, when added to the £70,810 accumulated profits, produced a total amount of Reserves of £99,993, as shown in the Balance Sheet reproduced below. The ratio of Reserves to the Liability to Depositors (£7,800,221) was 1.28%.

 

The two payments made to the City Council's Fund and Rate Account wiped out the deficit that was outstanding at the closure of the Birmingham Corporation Savings Bank.

 

By the date of the 1927 Annual Report, the number of branches had increased to 43. Of these, 27 were full-time, Nechells had just been opened as a permanent branch, and the remaining 15 were part-time Evening Branches. The total number of Open Accounts at March 31st 1927 had increased from 40,130 in 1920, to 225,760:

Number of Open Accounts
	1927	1920
Head Office	36,009	17,381
Small Heath	16,458	2,392
Sparkbrook	15,430	4,870
Aston	13,200	2,144
Handsworth	10,674	1,509
Balsall Heath	9,054	909
Duddeston	8,966	1,015
Rotton Park	8,808	749
Erdington	8,497	458
Bournville Works	8,304
Aston Cross	8,279
Saltley	8,153	1,041
Ladywood	7,467	1,782
Lozells	7,183	2,046
Bearwood	6,782	307
Kings Heath	6,630	370
Springfield	6,057
Hockley	5,205
Stirchley	4,458	311
Harborne	4,261	466
Selly Oak	4,253	735
Hay Mills	3,681	970
Acocks Green	3,187	423
Ward End	2,724
Spring Hill	2,613
Bordesley Green	1,766
Northfield	1,567	252
Evening Branches	6,094
Total Open Accounts:	225,760	40,130

1927 was the year that J P Hilton, the Bank's General Manager, published his book: Britain's First Municipal Savings Bank.
In Part Two of that book, three chapters deal with the progress of the Bank to its position in 1927:

Chapter 26: Progress of the Bank

Chapter 27: The Financial Position of the Bank

 

 

Reproduced below is a full copy of the Bank's 1927 Report and Statement of Accounts.