Call reports 2024
VERSABANK USA, NATIONAL ASSOCIATION — 2024
What VERSABANK USA, NATIONAL ASSOCIATION reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 79,294,000 | 79,139,000 | 161,607,000 | 177,765,000 |
| Total loans | 62,513,000 | 63,518,000 | 54,068,000 | 44,666,000 |
| Allowance for loan losses | 1,172,000 | 1,155,000 | 740,000 | 443,000 |
| Securities available for sale | 3,123,000 | 3,114,000 | 100,534,000 | 108,079,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 54,061,000 | 53,893,000 | 63,469,000 | 65,439,000 |
| Interest-bearing deposits | 48,744,000 | 48,653,000 | 58,743,000 | 60,626,000 |
| Noninterest-bearing deposits | 5,317,000 | 5,240,000 | 4,726,000 | 4,813,000 |
| Equity capital | 22,916,000 | 23,164,000 | 97,385,000 | 97,501,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 899,000 | 1,850,000 | 628,000 | 2,585,000 |
| Interest expense | 338,000 | 687,000 | 137,000 | 616,000 |
| Net interest income | 561,000 | 1,163,000 | 491,000 | 1,969,000 |
| Noninterest income | 9,000 | 20,000 | 4,000 | 15,000 |
| Noninterest expense | 213,000 | 426,000 | 123,000 | 1,708,000 |
| Provision for loan losses | 200,000 | 265,000 | -25,000 | -256,000 |
| Pretax income | 157,000 | 492,000 | 397,000 | 532,000 |
| Income tax | 39,000 | 122,000 | 114,000 | 153,000 |
| Net income | 118,000 | 370,000 | 283,000 | 379,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 22,917,000 | 23,169,000 | 97,385,000 | 97,482,000 |
| Total capital | 23,746,000 | 24,007,000 | 98,081,000 | 97,925,000 |
| Risk-weighted assets | 66,019,000 | 66,780,000 | 55,689,000 | 60,123,000 |