Call reports 2015
VERUS BANK OF COMMERCE — 2015
What VERUS BANK OF COMMERCE reported to the FFIEC in 2015, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2015Q1 | 2015Q2 | 2015Q3 | 2015Q4 |
|---|---|---|---|---|
| Total assets | 282,762,000 | 281,947,000 | 277,069,000 | 270,808,000 |
| Total loans | 256,427,000 | 257,415,000 | 248,254,000 | 245,212,000 |
| Allowance for loan losses | 2,750,000 | 2,750,000 | 2,753,000 | 2,239,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 209,602,000 | 222,271,000 | 230,459,000 | 209,019,000 |
| Interest-bearing deposits | 172,395,000 | 187,090,000 | 189,364,000 | 167,188,000 |
| Noninterest-bearing deposits | 37,206,000 | 35,181,000 | 41,096,000 | 41,832,000 |
| Equity capital | 39,507,000 | 41,309,000 | 43,168,000 | 40,678,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2015Q1 | 2015Q2 | 2015Q3 | 2015Q4 |
|---|---|---|---|---|
| Interest income | 3,482,000 | 7,062,000 | 10,634,000 | 13,971,000 |
| Interest expense | 344,000 | 703,000 | 1,055,000 | 1,396,000 |
| Net interest income | 3,138,000 | 6,359,000 | 9,579,000 | 12,575,000 |
| Noninterest income | 179,000 | 390,000 | 595,000 | 792,000 |
| Noninterest expense | 1,480,000 | 2,487,000 | 3,379,000 | 4,380,000 |
| Provision for loan losses | 490,000 | 490,000 | 490,000 | -10,000 |
| Pretax income | 1,347,000 | 3,772,000 | 6,305,000 | 8,997,000 |
| Income tax | 487,000 | 1,363,000 | 2,278,000 | 3,251,000 |
| Net income | 860,000 | 2,409,000 | 4,027,000 | 5,746,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2015Q1 | 2015Q2 | 2015Q3 | 2015Q4 |
|---|---|---|---|---|
| Tier 1 capital | 38,167,000 | 39,969,000 | 41,827,000 | 39,337,000 |
| Total capital | 40,912,000 | 42,719,000 | 44,580,000 | 41,576,000 |
| Risk-weighted assets | 252,112,000 | 252,346,000 | 243,835,000 | 238,773,000 |