Call reports 2023
VERSABANK USA, NATIONAL ASSOCIATION — 2023
What VERSABANK USA, NATIONAL ASSOCIATION reported to the FFIEC in 2023, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Total assets | 77,842,000 | 78,683,000 | 77,685,000 | 78,493,000 |
| Total loans | 54,191,000 | 61,225,000 | 62,247,000 | 61,250,000 |
| Allowance for loan losses | 881,000 | 992,000 | 1,173,000 | 1,128,000 |
| Securities available for sale | 3,628,000 | 3,609,000 | 3,617,000 | 3,121,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 53,708,000 | 54,441,000 | 53,048,000 | 53,522,000 |
| Interest-bearing deposits | 47,493,000 | 48,929,000 | 47,523,000 | 48,044,000 |
| Noninterest-bearing deposits | 6,215,000 | 5,512,000 | 5,525,000 | 5,478,000 |
| Equity capital | 22,128,000 | 22,316,000 | 22,429,000 | 22,796,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Interest income | 831,000 | 1,678,000 | 2,579,000 | 3,483,000 |
| Interest expense | 133,000 | 333,000 | 612,000 | 929,000 |
| Net interest income | 698,000 | 1,345,000 | 1,967,000 | 2,554,000 |
| Noninterest income | 27,000 | 37,000 | 49,000 | 62,000 |
| Noninterest expense | 228,000 | 443,000 | 648,000 | 751,000 |
| Provision for loan losses | -55,000 | 140,000 | 410,000 | 425,000 |
| Pretax income | 552,000 | 799,000 | 958,000 | 1,440,000 |
| Income tax | 137,000 | 199,000 | 238,000 | 358,000 |
| Net income | 415,000 | 600,000 | 720,000 | 1,082,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Tier 1 capital | 22,132,000 | 22,318,000 | 22,437,000 | 22,799,000 |
| Total capital | 22,871,000 | 23,128,000 | 23,257,000 | 23,612,000 |
| Risk-weighted assets | 59,043,000 | 64,653,000 | 65,318,000 | 64,752,000 |