Call reports 2020
COVENANT BANK — 2020
What COVENANT BANK reported to the FFIEC in 2020, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2020Q1 | 2020Q2 |
|---|---|---|
| Total assets | 522,300,000 | 608,001,000 |
| Total loans | 420,544,000 | 472,012,000 |
| Allowance for loan losses | 3,859,000 | 3,884,000 |
| Securities available for sale | 10,207,000 | 9,868,000 |
| Securities held to maturity | 1,000,000 | 1,000,000 |
| Trading assets | 0 | 0 |
| Total deposits | 402,769,000 | 479,948,000 |
| Interest-bearing deposits | 333,291,000 | 372,373,000 |
| Noninterest-bearing deposits | 69,478,000 | 107,575,000 |
| Equity capital | 52,489,000 | 53,725,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2020Q1 | 2020Q2 |
|---|---|---|
| Interest income | 5,778,000 | 11,219,000 |
| Interest expense | 1,494,000 | 2,748,000 |
| Net interest income | 4,284,000 | 8,471,000 |
| Noninterest income | 149,000 | 298,000 |
| Noninterest expense | 2,794,000 | 5,467,000 |
| Provision for loan losses | 25,000 | 100,000 |
| Pretax income | 1,614,000 | 3,202,000 |
| Income tax | 323,000 | 716,000 |
| Net income | 1,291,000 | 2,486,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2020Q1 | 2020Q2 |
|---|---|---|
| Tier 1 capital | 52,390,000 | 53,585,000 |
| Total capital | 56,320,000 | 57,590,000 |
| Risk-weighted assets | 436,701,000 | 433,566,000 |
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