Call reports 2016
VERUS BANK OF COMMERCE — 2016
What VERUS BANK OF COMMERCE reported to the FFIEC in 2016, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2016Q1 | 2016Q2 | 2016Q3 | 2016Q4 |
|---|---|---|---|---|
| Total assets | 267,251,000 | 263,428,000 | 252,269,000 | 253,834,000 |
| Total loans | 241,538,000 | 236,400,000 | 229,123,000 | 220,597,000 |
| Allowance for loan losses | 1,941,000 | 1,943,000 | 1,944,000 | 1,946,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 210,722,000 | 207,131,000 | 204,272,000 | 215,501,000 |
| Interest-bearing deposits | 169,399,000 | 167,436,000 | 157,589,000 | 160,409,000 |
| Noninterest-bearing deposits | 41,323,000 | 39,695,000 | 46,683,000 | 55,092,000 |
| Equity capital | 33,444,000 | 34,757,000 | 36,132,000 | 33,053,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2016Q1 | 2016Q2 | 2016Q3 | 2016Q4 |
|---|---|---|---|---|
| Interest income | 3,307,000 | 6,507,000 | 9,766,000 | 12,882,000 |
| Interest expense | 348,000 | 704,000 | 1,049,000 | 1,366,000 |
| Net interest income | 2,959,000 | 5,803,000 | 8,717,000 | 11,516,000 |
| Noninterest income | 134,000 | 272,000 | 577,000 | 718,000 |
| Noninterest expense | 1,564,000 | 2,488,000 | 3,482,000 | 4,460,000 |
| Provision for loan losses | -300,000 | -300,000 | -300,000 | -300,000 |
| Pretax income | 1,829,000 | 3,887,000 | 6,112,000 | 8,074,000 |
| Income tax | 661,000 | 1,404,000 | 2,209,000 | 2,918,000 |
| Net income | 1,168,000 | 2,483,000 | 3,903,000 | 5,156,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2016Q1 | 2016Q2 | 2016Q3 | 2016Q4 |
|---|---|---|---|---|
| Tier 1 capital | 32,104,000 | 33,417,000 | 34,792,000 | 31,713,000 |
| Total capital | 34,045,000 | 35,360,000 | 36,736,000 | 33,659,000 |
| Risk-weighted assets | 233,569,000 | 228,700,000 | 222,454,000 | 220,119,000 |