Call reports 2008
COVENANT BANK — 2008
What COVENANT BANK reported to the FFIEC in 2008, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Total assets | 238,171,000 | 230,450,000 | 239,058,000 | 223,251,000 |
| Total loans | 151,143,000 | 154,127,000 | 149,031,000 | 145,948,000 |
| Allowance for loan losses | 1,645,000 | 2,807,000 | 1,795,000 | 1,623,000 |
| Securities available for sale | 39,621,000 | 37,778,000 | 44,269,000 | 34,474,000 |
| Securities held to maturity | 9,292,000 | 9,215,000 | 9,589,000 | 9,588,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 172,166,000 | 157,044,000 | 171,052,000 | 166,628,000 |
| Interest-bearing deposits | 138,558,000 | 127,397,000 | 146,423,000 | 135,300,000 |
| Noninterest-bearing deposits | 33,608,000 | 29,647,000 | 24,629,000 | 31,328,000 |
| Equity capital | 19,723,000 | 18,788,000 | 18,990,000 | 18,817,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Interest income | 3,590,000 | 6,943,000 | 10,139,000 | 13,230,000 |
| Interest expense | 1,754,000 | 3,240,000 | 4,646,000 | 5,892,000 |
| Net interest income | 1,836,000 | 3,703,000 | 5,493,000 | 7,338,000 |
| Noninterest income | 480,000 | 905,000 | 1,412,000 | 1,941,000 |
| Noninterest expense | 1,977,000 | 3,939,000 | 5,936,000 | 7,889,000 |
| Provision for loan losses | 60,000 | 1,381,000 | 407,000 | 789,000 |
| Pretax income | 279,000 | -712,000 | 562,000 | 601,000 |
| Income tax | 53,000 | -367,000 | 43,000 | -50,000 |
| Net income | 226,000 | -345,000 | 519,000 | 651,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 19,357,000 | 18,702,000 | 19,459,000 | 19,477,000 |
| Total capital | 21,002,000 | 21,124,000 | 21,254,000 | 21,100,000 |
| Risk-weighted assets | 189,836,000 | 193,376,000 | 190,926,000 | 182,696,000 |
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