Call reports 2007
VERUS BANK OF COMMERCE — 2007
What VERUS BANK OF COMMERCE reported to the FFIEC in 2007, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2007Q1 | 2007Q2 | 2007Q3 | 2007Q4 |
|---|---|---|---|---|
| Total assets | 60,148,000 | 45,468,000 | 56,872,000 | 61,085,000 |
| Total loans | 57,233,000 | 42,590,000 | 54,135,000 | 59,388,000 |
| Allowance for loan losses | 744,000 | 679,000 | 813,000 | 889,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 51,379,000 | 35,258,000 | 44,778,000 | 51,161,000 |
| Interest-bearing deposits | 45,707,000 | 30,274,000 | 39,018,000 | 44,814,000 |
| Noninterest-bearing deposits | 5,672,000 | 4,984,000 | 5,760,000 | 6,347,000 |
| Equity capital | 8,412,000 | 8,643,000 | 8,769,000 | 8,862,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2007Q1 | 2007Q2 | 2007Q3 | 2007Q4 |
|---|---|---|---|---|
| Interest income | 1,164,000 | 2,292,000 | 3,343,000 | 4,464,000 |
| Interest expense | 515,000 | 1,004,000 | 1,435,000 | 1,968,000 |
| Net interest income | 649,000 | 1,288,000 | 1,908,000 | 2,496,000 |
| Noninterest income | 19,000 | 82,000 | 173,000 | 231,000 |
| Noninterest expense | 401,000 | 800,000 | 1,176,000 | 1,596,000 |
| Provision for loan losses | 49,000 | -16,000 | 118,000 | 194,000 |
| Pretax income | 218,000 | 586,000 | 787,000 | 937,000 |
| Income tax | 81,000 | 218,000 | 293,000 | 350,000 |
| Net income | 137,000 | 368,000 | 494,000 | 587,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2007Q1 | 2007Q2 | 2007Q3 | 2007Q4 |
|---|---|---|---|---|
| Tier 1 capital | 8,052,000 | 8,643,000 | 8,769,000 | 8,862,000 |
| Total capital | 8,787,000 | 9,204,000 | 9,469,000 | 9,618,000 |
| Risk-weighted assets | 58,760,000 | 44,756,000 | 55,909,000 | 60,366,000 |
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