Call reports 2017
VERSABANK USA, NATIONAL ASSOCIATION — 2017
What VERSABANK USA, NATIONAL ASSOCIATION reported to the FFIEC in 2017, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2017Q1 | 2017Q2 | 2017Q3 | 2017Q4 |
|---|---|---|---|---|
| Total assets | 68,540,000 | 76,604,000 | 76,883,000 | 81,266,000 |
| Total loans | 59,891,000 | 57,791,000 | 64,620,000 | 70,418,000 |
| Allowance for loan losses | 751,000 | 748,000 | 869,000 | 878,000 |
| Securities available for sale | 2,203,000 | 2,631,000 | 2,563,000 | 2,504,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 54,042,000 | 62,125,000 | 62,135,000 | 66,554,000 |
| Interest-bearing deposits | 47,696,000 | 56,077,000 | 55,852,000 | 59,752,000 |
| Noninterest-bearing deposits | 6,346,000 | 6,048,000 | 6,283,000 | 6,802,000 |
| Equity capital | 14,389,000 | 14,425,000 | 14,652,000 | 14,592,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2017Q1 | 2017Q2 | 2017Q3 | 2017Q4 |
|---|---|---|---|---|
| Interest income | 643,000 | 1,297,000 | 2,065,000 | 2,880,000 |
| Interest expense | 94,000 | 190,000 | 335,000 | 488,000 |
| Net interest income | 549,000 | 1,107,000 | 1,730,000 | 2,392,000 |
| Noninterest income | 7,000 | 15,000 | 26,000 | 35,000 |
| Noninterest expense | 178,000 | 385,000 | 563,000 | 799,000 |
| Provision for loan losses | 0 | 250,000 | 400,000 | 700,000 |
| Pretax income | 378,000 | 487,000 | 793,000 | 928,000 |
| Income tax | 146,000 | 219,000 | 297,000 | 492,000 |
| Net income | 232,000 | 268,000 | 496,000 | 436,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2017Q1 | 2017Q2 | 2017Q3 | 2017Q4 |
|---|---|---|---|---|
| Tier 1 capital | 14,381,000 | 14,417,000 | 14,645,000 | 14,585,000 |
| Total capital | 15,132,000 | 15,165,000 | 15,486,000 | 15,463,000 |
| Risk-weighted assets | 61,490,000 | 61,613,000 | 67,231,000 | 72,811,000 |