Call reports 2006
VERUS BANK OF COMMERCE — 2006
What VERUS BANK OF COMMERCE reported to the FFIEC in 2006, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2006Q1 | 2006Q2 | 2006Q3 | 2006Q4 |
|---|---|---|---|---|
| Total assets | 33,680,000 | 39,793,000 | 48,682,000 | 54,521,000 |
| Total loans | 30,922,000 | 36,743,000 | 46,698,000 | 52,147,000 |
| Allowance for loan losses | 402,000 | 515,000 | 625,000 | 695,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 25,501,000 | 31,604,000 | 39,043,000 | 45,844,000 |
| Interest-bearing deposits | 20,934,000 | 27,039,000 | 33,456,000 | 37,056,000 |
| Noninterest-bearing deposits | 4,567,000 | 4,565,000 | 5,587,000 | 8,788,000 |
| Equity capital | 8,073,000 | 8,032,000 | 8,067,000 | 8,275,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2006Q1 | 2006Q2 | 2006Q3 | 2006Q4 |
|---|---|---|---|---|
| Interest income | 599,000 | 1,308,000 | 2,243,000 | 3,327,000 |
| Interest expense | 171,000 | 437,000 | 809,000 | 1,264,000 |
| Net interest income | 428,000 | 871,000 | 1,434,000 | 2,063,000 |
| Noninterest income | 42,000 | 77,000 | 143,000 | 314,000 |
| Noninterest expense | 420,000 | 847,000 | 1,305,000 | 1,743,000 |
| Provision for loan losses | 96,000 | 209,000 | 319,000 | 389,000 |
| Pretax income | -46,000 | -108,000 | -47,000 | 245,000 |
| Income tax | -15,000 | -36,000 | -10,000 | 74,000 |
| Net income | -31,000 | -72,000 | -37,000 | 171,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2006Q1 | 2006Q2 | 2006Q3 | 2006Q4 |
|---|---|---|---|---|
| Tier 1 capital | 7,856,000 | 7,794,000 | 7,851,000 | 7,915,000 |
| Total capital | 8,258,000 | 8,279,000 | 8,476,000 | 8,593,000 |
| Risk-weighted assets | 33,232,000 | 38,736,000 | 50,764,000 | 54,206,000 |
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