Call reports 2003
BOUNDARY WATERS BANK — 2003
What BOUNDARY WATERS BANK reported to the FFIEC in 2003, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2003Q1 | 2003Q2 | 2003Q3 | 2003Q4 |
|---|---|---|---|---|
| Total assets | 51,293,000 | 64,485,000 | 71,759,000 | 74,610,000 |
| Total loans | 43,480,000 | 52,887,000 | 58,297,000 | 61,423,000 |
| Allowance for loan losses | 450,000 | 529,000 | 585,000 | 688,000 |
| Securities available for sale | 2,717,000 | 4,596,000 | 5,952,000 | 4,871,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 43,615,000 | 54,696,000 | 60,895,000 | 63,334,000 |
| Interest-bearing deposits | 35,705,000 | 45,128,000 | 50,429,000 | 53,797,000 |
| Noninterest-bearing deposits | 7,910,000 | 9,568,000 | 10,466,000 | 9,537,000 |
| Equity capital | 5,111,000 | 6,258,000 | 6,353,000 | 6,895,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2003Q1 | 2003Q2 | 2003Q3 | 2003Q4 |
|---|---|---|---|---|
| Interest income | 832,000 | 1,704,000 | 2,766,000 | 3,773,000 |
| Interest expense | 242,000 | 510,000 | 803,000 | 1,129,000 |
| Net interest income | 590,000 | 1,194,000 | 1,963,000 | 2,644,000 |
| Noninterest income | 173,000 | 528,000 | 705,000 | 916,000 |
| Noninterest expense | 571,000 | 1,170,000 | 1,800,000 | 2,474,000 |
| Provision for loan losses | 10,000 | 94,000 | 156,000 | 261,000 |
| Pretax income | 182,000 | 458,000 | 712,000 | 825,000 |
| Income tax | 73,000 | 165,000 | 259,000 | 305,000 |
| Net income | 109,000 | 293,000 | 453,000 | 520,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2003Q1 | 2003Q2 | 2003Q3 | 2003Q4 |
|---|---|---|---|---|
| Tier 1 capital | 4,131,000 | 5,286,000 | 5,416,000 | 5,954,000 |
| Total capital | 4,581,000 | 5,815,000 | 6,001,000 | 6,642,000 |
| Risk-weighted assets | 43,230,000 | 53,511,000 | 56,907,000 | 61,128,000 |
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