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Show 33 Banks in Utah Loan $57,000,000 FifAy steven percent of the banks in Utah made more than 42,000 loans totaling $57,000,000 to business houses and individuals throughout the state during the second half of 1940, according to the semi-annual survey of bank-lending bank-lending activity made by the Research Re-search Council of the American Bankers Association. The A. B. A. loan survey was participated in by 33 Utah banks, or 57 per cent of the 58 banks in the state. These 33 banks reported that they made between July 1 and December 31, 1940: 29,049 new loans, totaling $29, 272,682; 11,413 renewls of loans totaling $22,159,551; 1,918 new mortgage loans totaling $6,208.4009; total loans, 42,380, amounting to $57,640,642. The survey showed that business firms in the state used only 60 per cent of the confermed open lines of credit maintained for their use on the books of banks. A total of eight banks in the larger centers cen-ters of the slate reported that they carried on their books $9,-632,100 $9,-632,100 in "open lines of credit'' offered to and kept available for regular borrowers for use as needed need-ed by them. Of this amount $5,-603,713 $5,-603,713 or 60.3 per cent was used. The average numbe of new loans made per bank during the six months period under review was 880 and the average size of loan was 1,003. The average numer of loans renewed per bank was 346 and the average renewal was for $1, 942. The average number of new mortgage loans made per bar.k was 53 and the average new mort- gage made was for $3,237. |