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 Varo Bank, National Association
Varo Bank, National Association
| RSSD ID 5518023 | CERTIFICATE 59190 | ABA NUMBER 124303201 |
| 11781 S Lone Peak Pkwy |
Quarter Ended : |
2025-03-31 |
| Draper, Utah, 84020 |
Updated : |
2025-04-29 |
| www.varomoney.com |
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| Institution Profile |
| Year Opened : |
2020 |
Institution Type : |
Commercial bank |
| Entity Type : |
Federal |
Federal Regulator : |
OCC |
| Member Federal Reserve : |
Yes |
S-Corp : |
No |
| Fiduciary Powers : |
No |
Powers Exercised : |
No |
| Filing Type : |
051 |
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| Specialization : |
Other Specialized Under 1 Billion |
| Number of Offices : |
1 |
Number of Employees : |
375 |
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| Financial Fast Facts |
Balance Sheet
(USD, in thousands) |
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Income Statement
(USD, in thousands, ytd) |
| Total Assets | 355,299 |
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Total Interest Income | 4,488 |
| Total Liabilities | 267,752 |
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Total NonInterest Income | 34,536 |
| Total Bank Equity Capital | 87,547 |
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Total Interest Expense | 1,113 |
| Total Deposits | 214,653 |
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Total NonInterest Expense | 59,438 |
| Net Loans & Leases | 80,250 |
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Net Income | (25,053) |
| Loan Loss Allowance | 4,885 |
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Net Charge Offs | 3,608 |
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| Regulatory Capital |
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Quarterly Averages
(USD, in thousands) |
| Community Bank Leverage Ratio | Yes |
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Total loans | 81,182 |
| Total assets for the leverage ratio | 339,335 |
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Loans secured by real estate: | 0 |
| Tier 1 Leverage Ratio | 23.08 |
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Commercial and industrial loans | 0 |
| Off Balance Sheet Exposures (%) | 0 |
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Loans to individuals - Credit Cards | 42,916 |
| Trading Assets and Liabilities (%) | 0 |
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Loans to individuals - Other | 37,647 |
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:· Varo Bank, National Association
