Call reports 2020
VERUS BANK OF COMMERCE — 2020
What VERUS BANK OF COMMERCE reported to the FFIEC in 2020, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2020Q1 | 2020Q2 | 2020Q3 | 2020Q4 |
|---|---|---|---|---|
| Total assets | 272,534,000 | 284,009,000 | 281,562,000 | 300,589,000 |
| Total loans | 245,112,000 | 253,513,000 | 239,352,000 | 218,311,000 |
| Allowance for loan losses | 2,611,000 | 2,611,000 | 2,611,000 | 2,671,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 217,245,000 | 233,456,000 | 229,513,000 | 249,954,000 |
| Interest-bearing deposits | 151,786,000 | 155,041,000 | 153,375,000 | 147,840,000 |
| Noninterest-bearing deposits | 65,459,000 | 78,415,000 | 76,138,000 | 102,114,000 |
| Equity capital | 34,630,000 | 36,703,000 | 38,092,000 | 36,850,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2020Q1 | 2020Q2 | 2020Q3 | 2020Q4 |
|---|---|---|---|---|
| Interest income | 3,462,000 | 6,833,000 | 10,119,000 | 13,453,000 |
| Interest expense | 675,000 | 1,181,000 | 1,655,000 | 2,107,000 |
| Net interest income | 2,787,000 | 5,652,000 | 8,464,000 | 11,346,000 |
| Noninterest income | 190,000 | 407,000 | 648,000 | 918,000 |
| Noninterest expense | 1,736,000 | 2,713,000 | 3,910,000 | 5,075,000 |
| Provision for loan losses | 640,000 | 640,000 | 640,000 | 700,000 |
| Pretax income | 601,000 | 2,706,000 | 4,562,000 | 6,489,000 |
| Income tax | 151,000 | 680,000 | 1,147,000 | 1,631,000 |
| Net income | 450,000 | 2,026,000 | 3,415,000 | 4,858,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2020Q1 | 2020Q2 | 2020Q3 | 2020Q4 |
|---|---|---|---|---|
| Tier 1 capital | 33,928,000 | 36,042,000 | 37,431,000 | 36,189,000 |