Financials
The Bank in 1927
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
 
 
 
 
A full copy of the Bank's 1927 Report and Statement of Accounts is reproduced here
 
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