Call reports 2014
VERUS BANK OF COMMERCE — 2014
What VERUS BANK OF COMMERCE reported to the FFIEC in 2014, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2014Q1 | 2014Q2 | 2014Q3 | 2014Q4 |
|---|---|---|---|---|
| Total assets | 273,425,000 | 280,975,000 | 273,547,000 | 266,662,000 |
| Total loans | 248,162,000 | 254,288,000 | 248,601,000 | 246,360,000 |
| Allowance for loan losses | 3,670,000 | 2,253,000 | 2,254,000 | 2,256,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 229,483,000 | 224,900,000 | 223,113,000 | 204,240,000 |
| Interest-bearing deposits | 190,210,000 | 191,005,000 | 185,338,000 | 165,191,000 |
| Noninterest-bearing deposits | 39,274,000 | 33,895,000 | 37,775,000 | 39,050,000 |
| Equity capital | 38,520,000 | 40,265,000 | 41,956,000 | 38,672,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2014Q1 | 2014Q2 | 2014Q3 | 2014Q4 |
|---|---|---|---|---|
| Interest income | 3,360,000 | 6,824,000 | 10,300,000 | 13,886,000 |
| Interest expense | 392,000 | 779,000 | 1,169,000 | 1,538,000 |
| Net interest income | 2,968,000 | 6,045,000 | 9,131,000 | 12,348,000 |
| Noninterest income | 128,000 | 277,000 | 439,000 | 588,000 |
| Noninterest expense | 1,543,000 | 2,475,000 | 3,385,000 | 4,267,000 |
| Provision for loan losses | -261,000 | -261,000 | -261,000 | -261,000 |
| Pretax income | 1,814,000 | 4,108,000 | 6,446,000 | 8,930,000 |
| Income tax | 655,000 | 1,483,000 | 2,328,000 | 3,227,000 |
| Net income | 1,159,000 | 2,625,000 | 4,118,000 | 5,703,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2014Q1 | 2014Q2 | 2014Q3 | 2014Q4 |
|---|---|---|---|---|
| Tier 1 capital | 38,520,000 | 40,265,000 | 41,956,000 | 38,672,000 |
| Total capital | 41,514,000 | 42,518,000 | 44,210,000 | 40,928,000 |
| Risk-weighted assets | 238,797,000 | 242,618,000 | 235,942,000 | 232,126,000 |
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