Call reports 2008
COVENANT BANK — 2008
What COVENANT 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 | 37,582,000 | 34,615,000 | 33,811,000 | 57,452,000 |
| Total loans | 13,995,000 | 13,268,000 | 14,808,000 | 39,381,000 |
| Allowance for loan losses | 696,000 | 472,000 | 467,000 | 467,000 |
| Securities available for sale | 0 | 0 | 0 | 0 |
| Securities held to maturity | 6,234,000 | 8,570,000 | 6,513,000 | 6,168,000 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 28,909,000 | 28,230,000 | 27,648,000 | 51,705,000 |
| Interest-bearing deposits | 23,094,000 | 22,931,000 | 23,148,000 | 47,276,000 |
| Noninterest-bearing deposits | 5,815,000 | 5,299,000 | 4,500,000 | 4,429,000 |
| Equity capital | 6,520,000 | 6,208,000 | 5,850,000 | 5,541,000 |
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 | 421,000 | 776,000 | 1,101,000 | 1,537,000 |
| Interest expense | 135,000 | 264,000 | 356,000 | 551,000 |
| Net interest income | 286,000 | 512,000 | 745,000 | 986,000 |
| Noninterest income | 85,000 | 158,000 | 247,000 | 332,000 |
| Noninterest expense | 556,000 | 1,167,000 | 1,847,000 | 2,481,000 |
| Provision for loan losses | -9,000 | -9,000 | -9,000 | -9,000 |
| Pretax income | -176,000 | -488,000 | -846,000 | -1,154,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | -176,000 | -488,000 | -846,000 | -1,154,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2008Q1 | 2008Q2 | 2008Q3 | 2008Q4 |
|---|---|---|---|---|
| Tier 1 capital | 5,420,000 | 4,571,000 | 4,193,000 | 3,879,000 |
| Total capital | 5,695,000 | 4,808,000 | 4,434,000 | 4,277,000 |
| Risk-weighted assets | 21,544,000 | 18,687,000 | 21,720,000 | 41,316,000 |