Call reports 2019
VERUS BANK OF COMMERCE — 2019
What VERUS BANK OF COMMERCE reported to the FFIEC in 2019, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2019Q1 | 2019Q2 | 2019Q3 | 2019Q4 |
|---|---|---|---|---|
| Total assets | 268,422,000 | 268,424,000 | 268,881,000 | 274,886,000 |
| Total loans | 244,280,000 | 244,135,000 | 244,642,000 | 248,641,000 |
| Allowance for loan losses | 1,956,000 | 1,971,000 | 1,971,000 | 1,971,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 207,661,000 | 207,763,000 | 225,640,000 | 210,862,000 |
| Interest-bearing deposits | 149,002,000 | 150,093,000 | 162,632,000 | 140,686,000 |
| Noninterest-bearing deposits | 58,659,000 | 57,670,000 | 63,008,000 | 70,176,000 |
| Equity capital | 34,517,000 | 36,031,000 | 37,414,000 | 34,194,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2019Q1 | 2019Q2 | 2019Q3 | 2019Q4 |
|---|---|---|---|---|
| Interest income | 3,418,000 | 7,008,000 | 10,607,000 | 14,150,000 |
| Interest expense | 673,000 | 1,477,000 | 2,241,000 | 2,911,000 |
| Net interest income | 2,745,000 | 5,531,000 | 8,366,000 | 11,239,000 |
| Noninterest income | 171,000 | 443,000 | 822,000 | 1,002,000 |
| Noninterest expense | 1,632,000 | 2,655,000 | 3,739,000 | 4,937,000 |
| Provision for loan losses | 0 | 0 | 0 | 0 |
| Pretax income | 1,284,000 | 3,319,000 | 5,449,000 | 7,304,000 |
| Income tax | 323,000 | 834,000 | 1,370,000 | 1,836,000 |
| Net income | 961,000 | 2,485,000 | 4,079,000 | 5,468,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2019Q1 | 2019Q2 | 2019Q3 | 2019Q4 |
|---|---|---|---|---|
| Tier 1 capital | 33,815,000 | 35,329,000 | 36,712,000 | 33,492,000 |
| Total capital | 35,771,000 | 37,300,000 | 38,683,000 | 35,463,000 |
| Risk-weighted assets | 244,710,000 | 242,988,000 | 242,094,000 | 246,188,000 |