Call reports 2008
COVENANT BANK & TRUST — 2008
What COVENANT BANK & TRUST reported to the FFIEC in 2008, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Total assets | 94,597,000 | 101,481,000 | 109,036,000 | 110,861,000 |
| Total loans | 80,018,000 | 84,347,000 | 89,680,000 | 89,947,000 |
| Allowance for loan losses | 801,000 | 884,000 | 1,121,000 | 1,112,000 |
| Securities available for sale | 9,192,000 | 8,916,000 | 10,439,000 | 10,371,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 83,879,000 | 87,496,000 | 92,406,000 | 93,751,000 |
| Interest-bearing deposits | 81,993,000 | 84,787,000 | 89,963,000 | 91,962,000 |
| Noninterest-bearing deposits | 1,886,000 | 2,709,000 | 2,443,000 | 1,789,000 |
| Equity capital | 8,390,000 | 8,513,000 | 9,130,000 | 9,646,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Interest income | 1,497,000 | 2,906,000 | 4,458,000 | 6,046,000 |
| Interest expense | 943,000 | 1,821,000 | 2,720,000 | 3,620,000 |
| Net interest income | 554,000 | 1,085,000 | 1,738,000 | 2,426,000 |
| Noninterest income | 16,000 | 40,000 | 76,000 | 107,000 |
| Noninterest expense | 674,000 | 1,378,000 | 2,134,000 | 2,838,000 |
| Provision for loan losses | 61,000 | 144,000 | 390,000 | 394,000 |
| Pretax income | -165,000 | -395,000 | -708,000 | -697,000 |
| Income tax | -23,000 | -46,000 | -71,000 | -95,000 |
| Net income | -142,000 | -349,000 | -637,000 | -602,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 8,115,000 | 8,290,000 | 8,865,000 | 9,304,000 |
| Total capital | 8,916,000 | 9,174,000 | 9,986,000 | 10,416,000 |
| Risk-weighted assets | 84,703,000 | 88,163,000 | 92,770,000 | 94,713,000 |