Call reports 2021
VERUS BANK OF COMMERCE — 2021
What VERUS BANK OF COMMERCE reported to the FFIEC in 2021, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2021Q1 | 2021Q2 | 2021Q3 | 2021Q4 |
|---|---|---|---|---|
| Total assets | 292,882,000 | 264,222,000 | 263,381,000 | 278,443,000 |
| Total loans | 214,757,000 | 195,389,000 | 175,401,000 | 168,248,000 |
| Allowance for loan losses | 2,671,000 | 2,719,000 | 2,394,000 | 2,094,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 244,199,000 | 214,100,000 | 214,471,000 | 230,174,000 |
| Interest-bearing deposits | 147,033,000 | 135,614,000 | 132,918,000 | 128,784,000 |
| Noninterest-bearing deposits | 97,166,000 | 78,486,000 | 81,553,000 | 101,390,000 |
| Equity capital | 38,004,000 | 39,401,000 | 37,937,000 | 36,659,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2021Q1 | 2021Q2 | 2021Q3 | 2021Q4 |
|---|---|---|---|---|
| Interest income | 2,945,000 | 5,944,000 | 8,649,000 | 11,020,000 |
| Interest expense | 415,000 | 805,000 | 1,144,000 | 1,426,000 |
| Net interest income | 2,530,000 | 5,139,000 | 7,505,000 | 9,594,000 |
| Noninterest income | 256,000 | 534,000 | 807,000 | 1,055,000 |
| Noninterest expense | 1,478,000 | 2,579,000 | 4,104,000 | 5,263,000 |
| Provision for loan losses | 0 | 0 | -325,000 | -625,000 |
| Pretax income | 1,308,000 | 3,094,000 | 4,533,000 | 6,011,000 |
| Income tax | 329,000 | 777,000 | 1,139,000 | 1,511,000 |
| Net income | 979,000 | 2,317,000 | 3,394,000 | 4,500,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2021Q1 | 2021Q2 | 2021Q3 | 2021Q4 |
|---|---|---|---|---|
| Tier 1 capital | 37,343,000 | 38,618,000 | 37,154,000 | 35,876,000 |