Call reports 2009
COVENANT BANK — 2009
What COVENANT BANK reported to the FFIEC in 2009, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2009Q1 | 2009Q2 | 2009Q3 | 2009Q4 |
|---|---|---|---|---|
| Total assets | 65,661,000 | 79,063,000 | 86,648,000 | 99,183,000 |
| Total loans | 49,911,000 | 57,442,000 | 67,909,000 | 80,964,000 |
| Allowance for loan losses | 593,000 | 660,000 | 785,000 | 952,000 |
| Securities available for sale | 12,173,000 | 14,165,000 | 15,158,000 | 14,760,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 44,380,000 | 55,979,000 | 62,541,000 | 73,389,000 |
| Interest-bearing deposits | 36,911,000 | 49,667,000 | 54,114,000 | 64,563,000 |
| Noninterest-bearing deposits | 7,469,000 | 6,312,000 | 8,427,000 | 8,826,000 |
| Equity capital | 11,339,000 | 11,035,000 | 11,089,000 | 11,051,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2009Q1 | 2009Q2 | 2009Q3 | 2009Q4 |
|---|---|---|---|---|
| Interest income | 822,000 | 1,797,000 | 2,911,000 | 4,194,000 |
| Interest expense | 263,000 | 551,000 | 867,000 | 1,184,000 |
| Net interest income | 559,000 | 1,246,000 | 2,044,000 | 3,010,000 |
| Noninterest income | 6,000 | 17,000 | 70,000 | 186,000 |
| Noninterest expense | 1,009,000 | 1,806,000 | 2,632,000 | 3,542,000 |
| Provision for loan losses | 114,000 | 181,000 | 306,000 | 473,000 |
| Pretax income | -558,000 | -724,000 | -824,000 | -819,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | -558,000 | -724,000 | -824,000 | -819,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2009Q1 | 2009Q2 | 2009Q3 | 2009Q4 |
|---|---|---|---|---|
| Tier 1 capital | 10,915,000 | 10,748,000 | 10,640,000 | 10,626,000 |
| Total capital | 11,481,000 | 11,416,000 | 11,405,000 | 11,518,000 |
| Risk-weighted assets | 45,289,000 | 53,418,000 | 61,166,000 | 71,300,000 |
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