Question
The following balance sheet accounts (in millions of dollars) have been taken from the annual report for a U.S. bank. Arrange the accounts in balance
The following balance sheet accounts (in millions of dollars) have been taken from the annual report for a U.S. bank. Arrange the accounts in balance sheet order and determine the value of total assets. Based on the balance sheet structure, would you classify this bank as a community bank, regional bank, or a money center bank? (LG 11-6)
Premises | $1,078 | Net loans | $29,981 |
Savings deposits | 3,292 | Short-term borrowing | 2,080 |
Cash | 2,660 | Other liabilities | 778 |
NOW accounts | 12,816 | Equity | 3,272 |
Long-term debt | 1,191 | Investment securities | 5,334 |
Other assets | 1,633 | Demand deposits | 5,939 |
Intangible assets | 758 | Certificates of deposit (under $100,000) | 9,853 |
Other time deposits | 2,333 | Federal funds sold | 110 |
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