Call reports 2023
VERUS BANK OF COMMERCE — 2023
What VERUS BANK OF COMMERCE reported to the FFIEC in 2023, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Total assets | 198,971,000 | 195,171,000 | 200,674,000 | 192,999,000 |
| Total loans | 152,045,000 | 156,172,000 | 162,082,000 | 159,308,000 |
| Allowance for loan losses | 1,394,000 | 1,394,000 | 1,354,000 | 1,352,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 160,485,000 | 143,750,000 | 144,128,000 | 152,767,000 |
| Interest-bearing deposits | 89,048,000 | 88,365,000 | 86,449,000 | 99,185,000 |
| Noninterest-bearing deposits | 71,437,000 | 55,385,000 | 57,679,000 | 53,582,000 |
| Equity capital | 35,421,000 | 36,144,000 | 36,994,000 | 36,953,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Interest income | 2,439,000 | 4,916,000 | 7,545,000 | 10,280,000 |
| Interest expense | 228,000 | 585,000 | 1,078,000 | 1,851,000 |
| Net interest income | 2,211,000 | 4,331,000 | 6,467,000 | 8,429,000 |
| Noninterest income | 148,000 | 275,000 | 426,000 | 570,000 |
| Noninterest expense | 1,537,000 | 2,817,000 | 3,967,000 | 5,194,000 |
| Provision for loan losses | 0 | 0 | 0 | 0 |
| Pretax income | 822,000 | 1,789,000 | 2,926,000 | 3,805,000 |
| Income tax | 206,000 | 450,000 | 736,000 | 957,000 |
| Net income | 616,000 | 1,339,000 | 2,190,000 | 2,848,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Tier 1 capital | 34,770,000 | 35,707,000 | 36,557,000 | 36,516,000 |