HOKITIKA SAVINGS BANK
A HOOD YEAR'S WORK. At the monthly meeting of the Trustees of the Hokitika Savings Bank yesterday, tho Manager (Mr AY. Wilson) submitted the balance sheet for the year elided March 31. The depositors at the Bank, now number 1,364, and there are 119 mortgagors. The total deposits for tile year amounted to £34,330, and the interest paid on deposits for the period at 4J%, was £3,447. The withdrawals for the year were £38,871, an excess over deposits of £4,480. The total deposits at tho Bank now amount to £82,952. During the year £12,193 was invested on mortgage and £3,200 in County debentures. The mortgages repaid in tho year were £7,721, while £407 was paid olf County debentures. At -date tho Bank had £58,013 invested on first mortgage of freehold land, and £S,SGG ui County debentures. In addition the Bank had £14,755 on fixed deposit in the local banking institutions, and £19,030 in Government war loan bonds. The accumulated balance of profits of the Bank now amounts to £16,942. The proportion of assets to liabilities of the Hokitika Savings Bank has now reached 119%. That is for every £IOO of liability, there are assets to the value of £ll9. This is an extremely satisfactory margin, and a. very good reserve. In the last ton years, it is interesting to note the depositors at the Bank have increased from £52,767 to £82.952, an appreciation of £30,184. Tiie total funds over the same period have grown from £64,400 to £99.894, a gain of £35,494. From this record it will be seen that the Bank continues to do an ever-increasing turnover, more than retaining the confidence of tho public. The local institution which has had a long term of useful service for the benefit of the town and district, is evidently very popular. 'flic Trustees are at present- considering the question of rebuilding the Bank premises, and it is probable that the new building will be of concrete, and be erected on the present site which is so well-known to tho clients of the Bank.
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Hokitika Guardian, 12 May 1923, Page 2
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345HOKITIKA SAVINGS BANK Hokitika Guardian, 12 May 1923, Page 2
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