Call reports 2003
COVENANT BANK — 2003
What COVENANT 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 | 52,716,000 | 50,609,000 | 42,063,000 | 45,799,000 |
| Total loans | 34,341,000 | 32,070,000 | 29,837,000 | 27,717,000 |
| Allowance for loan losses | 567,000 | 595,000 | 943,000 | 1,259,000 |
| Securities available for sale | 9,365,000 | 9,141,000 | 3,079,000 | 0 |
| Securities held to maturity | 0 | 0 | 0 | 3,381,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 49,008,000 | 47,495,000 | 40,407,000 | 41,607,000 |
| Interest-bearing deposits | 39,052,000 | 38,063,000 | 31,244,000 | 31,653,000 |
| Noninterest-bearing deposits | 9,956,000 | 9,432,000 | 9,163,000 | 9,954,000 |
| Equity capital | 2,884,000 | 2,240,000 | 1,254,000 | 3,894,000 |
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 | 723,000 | 1,401,000 | 1,882,000 | 2,470,000 |
| Interest expense | 152,000 | 306,000 | 413,000 | 505,000 |
| Net interest income | 571,000 | 1,095,000 | 1,469,000 | 1,965,000 |
| Noninterest income | 189,000 | 439,000 | 664,000 | 852,000 |
| Noninterest expense | 981,000 | 2,199,000 | 3,175,000 | 4,216,000 |
| Provision for loan losses | 63,000 | 124,000 | 533,000 | 854,000 |
| Pretax income | -289,000 | -800,000 | -1,770,000 | -2,449,000 |
| Income tax | -30,000 | -30,000 | -30,000 | -30,000 |
| Net income | -259,000 | -770,000 | -1,740,000 | -2,419,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2003Q1 | 2003Q2 | 2003Q3 | 2003Q4 |
|---|---|---|---|---|
| Tier 1 capital | 2,338,000 | 1,787,000 | 566,000 | 3,894,000 |
| Total capital | 2,785,000 | 2,203,000 | 923,000 | 4,317,000 |
| Risk-weighted assets | 35,630,000 | 33,115,000 | 27,951,000 | 32,972,000 |