Call reports 2010
VERUS BANK OF COMMERCE — 2010
What VERUS BANK OF COMMERCE reported to the FFIEC in 2010, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2010Q1 | 2010Q2 | 2010Q3 | 2010Q4 |
|---|---|---|---|---|
| Total assets | 97,373,000 | 100,339,000 | 105,117,000 | 106,848,000 |
| Total loans | 86,209,000 | 83,813,000 | 86,839,000 | 92,396,000 |
| Allowance for loan losses | 1,701,000 | 1,365,000 | 1,644,000 | 1,549,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 78,532,000 | 82,414,000 | 89,247,000 | 91,006,000 |
| Interest-bearing deposits | 70,175,000 | 75,174,000 | 78,732,000 | 79,325,000 |
| Noninterest-bearing deposits | 8,357,000 | 7,240,000 | 10,515,000 | 11,681,000 |
| Equity capital | 9,583,000 | 9,663,000 | 9,879,000 | 10,081,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2010Q1 | 2010Q2 | 2010Q3 | 2010Q4 |
|---|---|---|---|---|
| Interest income | 1,358,000 | 2,696,000 | 4,071,000 | 5,494,000 |
| Interest expense | 463,000 | 929,000 | 1,389,000 | 1,809,000 |
| Net interest income | 895,000 | 1,767,000 | 2,682,000 | 3,685,000 |
| Noninterest income | 76,000 | 214,000 | 573,000 | 623,000 |
| Noninterest expense | 434,000 | 971,000 | 1,557,000 | 2,263,000 |
| Provision for loan losses | 401,000 | 746,000 | 1,089,000 | 1,114,000 |
| Pretax income | 136,000 | 264,000 | 609,000 | 931,000 |
| Income tax | 50,000 | 98,000 | 227,000 | 347,000 |
| Net income | 86,000 | 166,000 | 382,000 | 584,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2010Q1 | 2010Q2 | 2010Q3 | 2010Q4 |
|---|---|---|---|---|
| Tier 1 capital | 9,327,000 | 9,663,000 | 9,879,000 | 10,081,000 |
| Total capital | 10,355,000 | 10,703,000 | 10,934,000 | 11,187,000 |
| Risk-weighted assets | 81,600,000 | 82,878,000 | 83,848,000 | 88,005,000 |
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