Call reports 2020
VERSABANK USA, NATIONAL ASSOCIATION — 2020
What VERSABANK USA, NATIONAL ASSOCIATION reported to the FFIEC in 2020, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2020Q1 | 2020Q2 | 2020Q3 | 2020Q4 |
|---|---|---|---|---|
| Total assets | 98,766,000 | 94,554,000 | 94,810,000 | 102,791,000 |
| Total loans | 85,092,000 | 86,901,000 | 85,378,000 | 81,345,000 |
| Allowance for loan losses | 1,665,000 | 1,915,000 | 2,299,000 | 2,110,000 |
| Securities available for sale | 2,720,000 | 2,705,000 | 3,177,000 | 3,167,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 81,117,000 | 76,878,000 | 76,817,000 | 84,025,000 |
| Interest-bearing deposits | 75,509,000 | 69,869,000 | 71,039,000 | 77,539,000 |
| Noninterest-bearing deposits | 5,608,000 | 7,009,000 | 5,778,000 | 6,486,000 |
| Equity capital | 16,824,000 | 16,845,000 | 17,092,000 | 17,666,000 |
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 | 2020Q3 | 2020Q4 |
|---|---|---|---|---|
| Interest income | 1,167,000 | 2,348,000 | 3,587,000 | 4,749,000 |
| Interest expense | 340,000 | 613,000 | 819,000 | 1,005,000 |
| Net interest income | 827,000 | 1,735,000 | 2,768,000 | 3,744,000 |
| Noninterest income | 6,000 | 13,000 | 23,000 | 32,000 |
| Noninterest expense | 148,000 | 289,000 | 409,000 | 596,000 |
| Provision for loan losses | 515,000 | 1,255,000 | 1,837,000 | 1,869,000 |
| Pretax income | 170,000 | 204,000 | 545,000 | 1,311,000 |
| Income tax | 42,000 | 51,000 | 136,000 | 327,000 |
| Net income | 128,000 | 153,000 | 409,000 | 984,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2020Q1 | 2020Q2 | 2020Q3 | 2020Q4 |
|---|---|---|---|---|
| Tier 1 capital | 16,810,000 | 16,835,000 | 17,091,000 | 17,666,000 |
| Total capital | 17,916,000 | 17,948,000 | 18,190,000 | 18,744,000 |
| Risk-weighted assets | 87,950,000 | 88,264,000 | 86,778,000 | 85,240,000 |