April 1st 1976 to November 20th 1979 

 

	£	Ratio of Reserves to Deposits (%)
Total Reserves Transferred from Birmingham Municipal Bank @ April 1st 1976	6,547,952	4.77
Surplus - April 1st 1976 to November 20th 1976 (No 2 Dept)	267,563
Surplus - April 1st 1976 to November 20th 1976 (Investment Dept)	544,151
Total Reserves @ November 20th 1976	7,359,666	5.38
Prior Year Adjustments	123,000
Surplus - November 21st 1976 to November 20th 1977	1,287,000
Total Reserves @ November 20th 1977	8,770,000	6.19
Surplus - November 21st 1977 to November 20th 1978	1,351,000
Prior Year Adjustments	547,000
Total Reserves @ November 20th 1978	10,668,000	6.64
Prior Year Adjustments	1,487,000
Surplus - November 21st 1978 to November 20th 1979	2,446,000
Total Reserves @ November 20th 1979	14,601,000	8.22

 

 

The Bank's Annual Reports for the three years ending November 20th 1979, published figures in units of a Thousand Pounds

Subsequent to the Government's acceptance of the recommendations of the Page Committee to Review National Savings a new Trustee Savings Banks Act was passed in 1976. The new legislation removed many of the restrictions under which TSBs operated and granted the banks powers to operate with equivalent services to the commercial banks. In order to make these services available to the customers of the Birmingham Municipal Bank (BMB), it was necessary for the BMB to operate under the provisions of the Trustee Savings Banks Acts, instead of the Birmingham Corporation Act of 1919. The legislation to effect the BMB's transfer to a TSB was made by the passing of the National Exhibition Centre and Birmingham Municipal Act, 1976 - this Act resulted in the transfer of the Assets and Liabilities of the Birmingham Municipal Bank to the newly formed Birmingham Municipal Trustee Savings Bank (BMTSB). The BMB closed its doors on March 31st 1976 and the new Bank opened for business on the following day. The 1976 TSB Act provided for the special relationship between the Bank and the City of Birmingham to continue with the Trustees of the new Bank being appointed and removed by the City Council. However, the Government had only agreed to the savings banks getting extended powers if the large number of individual banks (some of which were very small) was rationalised to a smaller number of regional banks. Eventually, a structure of seventeen regional banks was agreed that included the TSB of the Midlands (formed from three Banks: Coventry; Walsall; and Wolverampton) that BMTSB was committed to amalgamate with in due course. That amalgamation, to form TSB of Birmingham and the Midlands, took place on November 21st 1979 - thus the relationship with Birmingham City Council, that began with the Birmingham Corporation Savings Bank during the First World War, came to an end.

 

BMTSB produced four sets of Published Accounts. The results for these four periods are summarised below, and the full sets of reports are reproduced:

 

 - April 1st to November 20th 1976;

 

 - November 21st 1976 to November 20th 1977;

 

 - November 21st 1977 to November 20th 1978;

 

 - November 21st 1978 to November 20th 1979

 

LIABILITIES	1976	1977	1978	1979
Customers' Balances:	£	£000	£000	£000
Savings Department No 1	62,898,243
Savings Department No 2	24,617,335
Investment Department No 3	46,232,461
Current Account Department	2,891,926
TOTAL:	136,730,965
Savings Accounts		89,960	101,166	106,637
Cheque Accounts		4,156	7,144	9,960
Investment Accounts		39,980	49,043	51,182
Term Deposits		7,504	3,316	9,880
TOTALS:		141,600	160,669	177,659
ASSETS
Investments	99,033,838	100,036	104,034	123,403
National Debt Commissioners	27,526,198	23,459	25,102	22,155
Advances (less provisions)	8,653,146	9,436	13,193	18,465