Call reports 2022
VERSABANK USA, NATIONAL ASSOCIATION — 2022
What VERSABANK USA, NATIONAL ASSOCIATION reported to the FFIEC in 2022, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2022Q1 | 2022Q2 | 2022Q3 | 2022Q4 |
|---|---|---|---|---|
| Total assets | 94,818,000 | 89,592,000 | 79,810,000 | 77,475,000 |
| Total loans | 56,757,000 | 55,830,000 | 54,752,000 | 54,812,000 |
| Allowance for loan losses | 869,000 | 781,000 | 725,000 | 811,000 |
| Securities available for sale | 3,094,000 | 3,079,000 | 3,080,000 | 3,601,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 72,577,000 | 66,731,000 | 56,392,000 | 53,817,000 |
| Interest-bearing deposits | 66,255,000 | 60,172,000 | 50,620,000 | 48,010,000 |
| Noninterest-bearing deposits | 6,322,000 | 6,559,000 | 5,772,000 | 5,807,000 |
| Equity capital | 20,630,000 | 21,107,000 | 21,540,000 | 21,850,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2022Q1 | 2022Q2 | 2022Q3 | 2022Q4 |
|---|---|---|---|---|
| Interest income | 745,000 | 1,565,000 | 2,362,000 | 3,156,000 |
| Interest expense | 75,000 | 139,000 | 227,000 | 326,000 |
| Net interest income | 670,000 | 1,426,000 | 2,135,000 | 2,830,000 |
| Noninterest income | 8,000 | 17,000 | 29,000 | 43,000 |
| Noninterest expense | 243,000 | 451,000 | 667,000 | 875,000 |
| Provision for loan losses | -75,000 | -160,000 | -230,000 | -120,000 |
| Pretax income | 510,000 | 1,152,000 | 1,727,000 | 2,118,000 |
| Income tax | 127,000 | 285,000 | 430,000 | 527,000 |
| Net income | 383,000 | 867,000 | 1,297,000 | 1,591,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2022Q1 | 2022Q2 | 2022Q3 | 2022Q4 |
|---|---|---|---|---|
| Tier 1 capital | 20,667,000 | 21,153,000 | 21,583,000 | 21,876,000 |
| Total capital | 21,476,000 | 21,934,000 | 22,308,000 | 22,621,000 |
| Risk-weighted assets | 64,707,000 | 62,912,000 | 60,102,000 | 59,578,000 |