Verus Bank Of Commerce is headquartered in Fort Collins and is the 27th largest bank in the state of Colorado. It is also the 2,404th largest bank in the nation. It was established in 2005 and as of December of 2013, it had grown to 17 employees at 2 locations. Verus Bank Of Commerce has a B+ health rating.
Entrepreneurial enviroment with great customer service.
In a world where banking typically means call 1-800-"find someone who cares", Verus is a breath of fresh air. They do real business with real people and treat you like real people. If you want to do business with a bank where the person on the other end of the line flips through a manual to decide what to tell you, this isn't your bank. If you want to sit and talk to people with a real understanding and the flexibilty to consider your real world circumstance-give these guys a try! I've been a customer for four+ years and I recomend them heartily!
"Verus has been a partner in growing our company to the next level. They have been able to provide the capital to help us expand while offering the support and personalized service that comes with a local bank."
Verus has been very down to earth and nimble in accommodating the needs of my business clients. I strongly recommend them as a very competent community banking solution in northern Colorado.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Verus Bank Of Commerce had $3.43 million in non-current loans and owned real-estate with $41.34 million in equity and loan loss allowances on hand to cover it. This gives Verus Bank Of Commerce a Texas Ratio of 8.29% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Verus Bank Of Commerce decreased slightly from 11.04% as of December 31, 2012 to 8.29% as of December 31, 2013, resulting in a positive change of 24.87%.This indicates that the balance sheet and financial strength for Verus Bank Of Commerce has improved slightly in recent periods.
In the past year, Verus Bank Of Commerce has decreased its total deposits by -$9.38 million, resulting in -4.14% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Verus Bank Of Commerce has shown is below average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Verus Bank Of Commerce has $266.02 million in assets with $41.34 million in equity, resulting in a capitalization level of 15.54%, which is excellent.
|FDIC Certificate #||58025|
|Assets and Liabilities|
|Equity Capital||$37.41 million|
|Loan Loss Allowance||$3.93 million|
|Unbacked Noncurrent Loans||$704,000|
|Real Estate Owned||$2.72 million|
|Historic Data - December 2012|
|Equity Capital||$35.42 million|
|Loan Loss Allowance||$4.09 million|
|Unbacked Noncurrent Loans||$704,000|
|Real Estate Owned||$2.69 million|
|Profit Margin - Quarterly|
|Net Interest Margin||4.77%|
|Return on Assets||2.11%|
|Return on Equity||14.87%|
|Interest Income||$13.89 million|
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|0.25%||$3k||-||Health Savings Account|
|0.10%||-||-||Big Thompson Savings|
|0.10%||-||-||Larkbunting Minor Savings|
|0.10%||-||-||Blue Spruce Business Savings|
|0.15%||$25k||-||Foothills Money Market|
|0.10%||-||-||Pikes Peak Business Money Market|
|0.10%||-||-||Rockies Bus Int Checking|
|0.05%||-||-||Mile High Interest Chkg|
|1.26%||$1k||$100k||60 Month CD|
|1.00%||$1k||$100k||48 - 59 Month CD|
|0.70%||$1k||-||36 - 47 Month CD|
|0.60%||$1k||$100k||24 - 35 Month CD|
|0.30%||$1k||$100k||12 - 23 Month CD|
|0.20%||$1k||$100k||180 - 364 Day CD|
|0.15%||$1k||$100k||90 - 179 Day CD|
|1.26%||$1k||$100k||60 Month IRA|
|1.00%||$1k||$100k||48 - 59 Month IRA|
|0.70%||$1k||-||36 - 47 Month IRA|
|0.65%||$1k||$100k||24 - 35 Month IRA|
|0.50%||$1k||$100k||18 - 23 Month IRA|
|0.30%||$1k||$100k||12 - 17 Month IRA|
|Verus Bank Of Commerce Locations|
|Loveland Bank Of Commerce Branch||102 East 29th Street||Loveland, CO 80538|
|Verus Bank Of Commerce||3700 S. College Avenue, Unit 102||Fort Collins, CO 80525|