Call reports 2024
VERUS BANK OF COMMERCE — 2024
What VERUS BANK OF COMMERCE reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 207,192,000 | 193,802,000 | 190,055,000 | 192,264,000 |
| Total loans | 165,437,000 | 167,453,000 | 165,397,000 | 168,363,000 |
| Allowance for loan losses | 1,356,000 | 1,354,000 | 1,356,000 | 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 | 147,138,000 | 141,141,000 | 143,173,000 | 150,068,000 |
| Interest-bearing deposits | 97,588,000 | 94,321,000 | 99,777,000 | 107,318,000 |
| Noninterest-bearing deposits | 49,550,000 | 46,820,000 | 43,396,000 | 42,750,000 |
| Equity capital | 36,911,000 | 37,439,000 | 38,064,000 | 36,513,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 2,727,000 | 5,499,000 | 8,375,000 | 11,287,000 |
| Interest expense | 870,000 | 1,815,000 | 2,823,000 | 3,752,000 |
| Net interest income | 1,857,000 | 3,684,000 | 5,552,000 | 7,535,000 |
| Noninterest income | 146,000 | 291,000 | 423,000 | 571,000 |
| Noninterest expense | 1,376,000 | 2,643,000 | 3,839,000 | 4,909,000 |
| Provision for loan losses | 0 | 0 | 0 | 0 |
| Pretax income | 627,000 | 1,332,000 | 2,136,000 | 3,197,000 |
| Income tax | 158,000 | 335,000 | 502,000 | 752,000 |
| Net income | 469,000 | 997,000 | 1,634,000 | 2,445,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 36,474,000 | 37,032,000 | 37,657,000 | 36,106,000 |