Financials
The Bank in 1949
At March 31st 1939, the Bank had a total amount standing to the credit of its Depositors of 29,350,236 - and Total Reserves amounting to 407,135 (ie a Ratio of Accumulated Profits to Depositor Liabilities of 1.39%). In the following ten-year period, the Excess of Income over Expenditure ('Profit') was reported annually as follows:
 
 Year-Ended
March 31st
 Profit
 Cumulative
 1939
 
 407,135
 1940
 19,338
 426,473
 1941
 10,642
437,115
 1942
 17,814
 454,929
 1943
 19,838
474,767
 1944
 19,722
 494,489
 1945
 6,001
 500,491
 1946
 14,031
 514,522
 1947
 5,204
 519,726
 1948
 7,512
 527,238
 1949
 9,994
 537,232
The figures in the 'Cumulative' column 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 ():
 
 1946 - Profit on Sale of Investments 5,604
 1946 - Creation of a Provision for Deferred Repairs at Head Office and Branches ... 15,000
 1947 - Work Executed (cost charged to Reserve for Deferred Repairs) .. (2,000)
 1949 - Addition to Reserve for Deferred Repairs ...... 2,000
 1949 - Transfers between Reserve Accounts .......... 17,158
 
The net amount of these transactions - 37,762 - when added to the 537,232 accumulated profits, produced a total amount of Reserves of 574,994, as shown in the 1949 published accounts, as follows ():
 
 - Reserve for Deferred Repairs at Head Office and Branches .... 15,000
 - Reserve Fund .........550,000
 - Income and Expenditure Account ........ 9,994
 
The Bank's deposit base continued to expand during this period, which was of course, dominated by the Second World War. By March 31st 1949, the number of branches had increased from 62 to 69 - mostly offices that were in the course of completion at the beginning of the War; no expenditure on Fixed Assets was incurred in the five years ended March 31st 1946. The nation's demand for savings to help finance the War is reflected in the huge increase in Deposit Balances from 29,350,236 to 83,368,124 - an average of almost 5 million each year. The number of Open Accounts increased by 160,559. Unsurprisingly, there was little demand for loans to purchase houses, and the balance outstanding on Mortgages fell from 2,431,517 to 1,552,084. Instead, deposits received were channelled into Government Securities as a contribution to the prosecution of the War; at March 31st 1949, almost 56 million was invested in this manner.
 
The level of profits over the ten-year period generally declined. The commencement of the War brought a higher annual charge for Taxation, and there were annual contributions to a War Damages Account. Depreciation was charged at a high rate, so that by March 31st 1941, the value of Land and Buildings was shown as a nominal 1,000; Furniture and Equipment was completely written off in 1942.
 
The 1942 Annual Report commented that all accommodation in the Safe Deposit at Head Office was fully taken up. The 1945 Report stated that: One of the most gratifying services the Bank has rendered is the provision of Safe Deposit facilities at Head Office. With the advent of war the advantages of this provision were recognised, and all the accommodation, consisting of 4,640 safes was quickly taken up. We have, probably, the most up-to-date Safe Deposit in the country. For a small annual charge depositors can rent a safe in which to keep their deeds, documents, etc., with the knowledge that they alone (or their properly accredited representative) can gain access to the safe. Freedom from anxiety, ever present when such documents are kept in the house, is a great relief. We have a long waiting list of applicants for safes, and it is our intention to enlarge the accommodation as early as circumstances permit.

The 1947 Report stated that 5,888 additional Safes to meet public demand have recently been installed, making a total of 10,528. Present rentals range from 7/6 to 1 10s 0d per annum, according to the size of Safe. During the year, access to renters has been given on 12,877 occasions.The same report showed a charge under Furniture and Equipment of 16,780 for the Safe Deposit Extension.
 
The 1946 Accounts (dated June 1946) reported: Mr J P Hilton, CBE, who was General Manager of the Bank from 1919, and also Manager of the Birmingham Corporation Savings Bank from 1916-1919, retired on the 24th March last on reaching the age limit. He was a great pioneer and laboured indefatigably from 1916 to build up the "Citizens' own Bank." How well he succeeded can be judged from the Bank's flourishing condition to-day. A presentation was made to Mr Hilton by the Committee to mark the occasion.
 
 
 
 The position at March 31st 1949, therefore, was as follows:
 
 Amount standing to the credit of Depositors:    83,368,124
 Advances outstanding, secured by Mortgage of Freehold and Leasehold Estate:    1,552,084
 Reserve Fund (Balance of Income over Expenditure):    574,994
 Ratio of Reserves to the Liability to Depositors (83,368,124) was 0.69%.
 Number of Open Accounts:    626,722 (approximately 46% of the population in Birmingham and adjoining areas)
 
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