Call reports 2018
VERUS BANK OF COMMERCE — 2018
What VERUS BANK OF COMMERCE reported to the FFIEC in 2018, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2018Q1 | 2018Q2 | 2018Q3 | 2018Q4 |
|---|---|---|---|---|
| Total assets | 245,152,000 | 255,764,000 | 242,295,000 | 258,797,000 |
| Total loans | 222,714,000 | 230,074,000 | 220,373,000 | 231,688,000 |
| Allowance for loan losses | 1,956,000 | 1,956,000 | 1,956,000 | 1,956,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 177,641,000 | 190,198,000 | 195,727,000 | 212,019,000 |
| Interest-bearing deposits | 126,080,000 | 141,363,000 | 145,538,000 | 145,926,000 |
| Noninterest-bearing deposits | 51,561,000 | 48,835,000 | 50,189,000 | 66,093,000 |
| Equity capital | 33,766,000 | 35,200,000 | 36,709,000 | 33,556,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2018Q1 | 2018Q2 | 2018Q3 | 2018Q4 |
|---|---|---|---|---|
| Interest income | 3,147,000 | 6,380,000 | 9,754,000 | 13,031,000 |
| Interest expense | 356,000 | 821,000 | 1,365,000 | 1,941,000 |
| Net interest income | 2,791,000 | 5,559,000 | 8,389,000 | 11,090,000 |
| Noninterest income | 150,000 | 307,000 | 541,000 | 707,000 |
| Noninterest expense | 1,650,000 | 2,690,000 | 3,750,000 | 4,716,000 |
| Provision for loan losses | 0 | 0 | 0 | 0 |
| Pretax income | 1,291,000 | 3,176,000 | 5,180,000 | 7,081,000 |
| Income tax | 331,000 | 783,000 | 1,278,000 | 1,746,000 |
| Net income | 960,000 | 2,393,000 | 3,902,000 | 5,335,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2018Q1 | 2018Q2 | 2018Q3 | 2018Q4 |
|---|---|---|---|---|
| Tier 1 capital | 32,956,000 | 34,390,000 | 35,899,000 | 32,746,000 |
| Total capital | 34,912,000 | 36,346,000 | 37,855,000 | 34,702,000 |
| Risk-weighted assets | 224,966,000 | 232,831,000 | 221,695,000 | 231,434,000 |