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Varo Bank, National Association
Draper, UT · FDIC Certificate #59190 · Chartered 08/0
Total assets
$337.82M
Total deposits
$209.82M
Total equity
$68.88M
Net loans
$87.39M
Branches (offices)
1
Net income (YTD)
-$46.57M
Rank: #2,302 of 4,213 U.S. banks by assets · #37 of 44 in Utah. Assets changed 19.8% and deposits 30.2% over the year to June 30, 2026.
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Key ratios
| Return on assets (YTD, annualized by FDIC) | -25.68% |
| Return on equity | -109.59% |
| Net interest margin (YTD) | 7.26% |
| Equity to assets | 20.39% |
| Tier 1 leverage ratio | 18.46% |
| Uninsured deposits (share of deposits) | 1.7% |
| Noncurrent loans (share of loans) | 0.42% |
| Net charge-offs (share of loans) | 29.60% |
| Loans to deposits | 41.6% |
| Real estate loans (share of loans) | 0.0% |
Loan mix
| Category | Amount | Share | |
|---|---|---|---|
| Real estate loans | $0 | 0.0% | |
| Commercial & industrial | $0 | 0.0% | |
| Consumer / individual | $96.51M | 110.4% | |
| Construction & development | $0 | 0.0% | |
| Agricultural | $0 | 0.0% |
Five-year trend (June snapshots)
| Period | Total assets | Deposits | Net income (year to date) | Equity / net worth |
|---|---|---|---|---|
| Jun 2022 | $593.18M | $311.76M | -$161.52M | $222.22M |
| Jun 2023 | $554.82M | $360.83M | -$56.46M | $149.86M |
| Jun 2024 | $480.41M | $339.22M | -$29.86M | $89.54M |
| Jun 2025 | $281.88M | $161.19M | -$45.35M | $69.49M |
| Jun 2026 | $337.82M | $209.82M | -$46.57M | $68.88M |
Where its branch deposits sit (FDIC Summary of Deposits)
| State | Branch deposits | Offices |
|---|---|---|
| Utah | $209.82M | 1 |
Branch deposits are booked at the office that holds them, which is not always where the customer lives. Total across all offices: $209.82M.
Similar-sized banks
Security State Bank ($338.05M) · Bath State Bank ($337.56M)
Source: FDIC BankFind - Call Report and institution data as of June 30, 2026; branch deposits from the FDIC Summary of Deposits (June 30, 2026). See methodology.
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