Call reports 2008
VERUS BANK — 2008
What VERUS BANK 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 | 100,507,000 | 100,775,000 | 99,054,000 | 100,450,000 |
| Total loans | 58,577,000 | 59,556,000 | 59,763,000 | 62,508,000 |
| Allowance for loan losses | 641,000 | 643,000 | 633,000 | 641,000 |
| Securities available for sale | 18,838,000 | 18,589,000 | 20,259,000 | 18,247,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 91,468,000 | 91,938,000 | 90,155,000 | 88,124,000 |
| Interest-bearing deposits | 68,780,000 | 67,268,000 | 66,605,000 | 64,260,000 |
| Noninterest-bearing deposits | 22,688,000 | 24,670,000 | 23,550,000 | 23,864,000 |
| Equity capital | 8,299,000 | 8,147,000 | 8,279,000 | 9,194,000 |
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 | 1,410,000 | 2,805,000 | 4,152,000 | 5,493,000 |
| Interest expense | 471,000 | 878,000 | 1,248,000 | 1,567,000 |
| Net interest income | 939,000 | 1,927,000 | 2,904,000 | 3,926,000 |
| Noninterest income | 433,000 | 918,000 | 1,435,000 | 1,922,000 |
| Noninterest expense | 1,123,000 | 2,266,000 | 3,504,000 | 4,757,000 |
| Provision for loan losses | 32,000 | 34,000 | 43,000 | 49,000 |
| Pretax income | 217,000 | 545,000 | 792,000 | 1,042,000 |
| Income tax | 8,000 | 21,000 | 30,000 | 27,000 |
| Net income | 209,000 | 524,000 | 762,000 | 1,015,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 7,997,000 | 8,155,000 | 8,236,000 | 8,853,000 |
| Total capital | 8,638,000 | 8,798,000 | 8,869,000 | 9,494,000 |
| Risk-weighted assets | 69,172,000 | 69,178,000 | 69,103,000 | 70,527,000 |