| Show utah banks make ma ke A ag new loans renew others business firms using only one halt of tile lie open lines oi of credit that banks in utah are actively serving the credit needs of their communities is evidenced by the results of a survey of b bank ank lending activity announced by the american bankers association indicating that the commercial banks of th the state made more than new loans totaling to bu business i firms and individuals during the first six months of 1939 arid and renewed outstanding loons loans totaling 23 during the same period the survey also reveals that business firms in the state adiv ar ising only about one half of the I 1 open lines of credit credi tIP maintained for their use on the books of the banks these estimated figures are based on reports received from 26 banks in utah holding membership in tho the A B A or 43 per cent of the 60 commercial banks in the state and allowance is made for the concentration oi of leading activity in the tian areas oi of salt lake city and ogden new loans total li the 26 banks reported they made new loans totaling 16 bet lettween tween january ase an and june 30 0 1939 and renewed ollist outstanding anding loans totaling in addition they re ported new mortgage loans to home owners and other real estate owners totaling the average number of new loans per bank was and the average new loan was ithe number ut renewals per bank was and the average renewal was for 2522 the average number of new nev mortgages per bank was 36 and the average mortgage was for 3 in addition to mal making ing loans on individual applications the banks of the larger cities maintain what are known as open lines of credit on their books available at all times to regul regular ar business borrowers three banks reported such 0 pen open lines of credit totaling 57 7 however only or about 54 per cent of this credit was being us used A by business firms on june 30 |
