Call reports 2008
VERUS BANK OF COMMERCE — 2008
What VERUS BANK OF COMMERCE reported to the FFIEC in 2008, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Total assets | 63,411,000 | 70,596,000 | 75,506,000 | 80,247,000 |
| Total loans | 59,646,000 | 63,774,000 | 67,908,000 | 74,280,000 |
| Allowance for loan losses | 929,000 | 954,000 | 947,000 | 1,101,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 44,957,000 | 49,996,000 | 53,759,000 | 54,839,000 |
| Interest-bearing deposits | 38,838,000 | 43,421,000 | 46,534,000 | 48,190,000 |
| Noninterest-bearing deposits | 6,119,000 | 6,575,000 | 7,225,000 | 6,649,000 |
| Equity capital | 9,041,000 | 9,226,000 | 9,398,000 | 9,482,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Interest income | 1,063,000 | 2,123,000 | 3,250,000 | 4,438,000 |
| Interest expense | 527,000 | 1,057,000 | 1,615,000 | 2,178,000 |
| Net interest income | 536,000 | 1,066,000 | 1,635,000 | 2,260,000 |
| Noninterest income | 62,000 | 152,000 | 175,000 | 190,000 |
| Noninterest expense | 274,000 | 569,000 | 891,000 | 1,234,000 |
| Provision for loan losses | 40,000 | 70,000 | 70,000 | 229,000 |
| Pretax income | 284,000 | 579,000 | 849,000 | 987,000 |
| Income tax | 105,000 | 215,000 | 313,000 | 367,000 |
| Net income | 179,000 | 364,000 | 536,000 | 620,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 9,041,000 | 9,226,000 | 9,398,000 | 9,482,000 |
| Total capital | 9,813,000 | 10,041,000 | 10,261,000 | 10,397,000 |
| Risk-weighted assets | 61,635,000 | 65,078,000 | 68,928,000 | 73,045,000 |
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