Total Assets
$376M
Total balance-sheet footings
2026 data FDIC sourced Public-data reference.
Varo Bank, National Association — FDIC Bank Health Profile
Draper, Utah · Est. 2020. Free, sourced from the FDIC BankFind Suite — refreshed each quarter and cross-checked against the FDIC Call Report.
Nationally chartered (OCC) National Bank FDIC Cert #59190 San Francisco Region
F
Health grade
At Risk
Score: 0/100
Basel III capital ratios — Varo Bank, National Association
Total Deposits
$211M
Customer-funded liabilities
Net Loans
$87M
Outstanding loan book
Net Income
$-91,762K
Bottom-line earnings
Safety Metrics
Tier 1 capital ratio
Well-capitalized 10%
0.00% of risk-weighted assets — below the federal "well-capitalized" threshold of 10%.
Tier 1 Capital Ratio
Core capital ÷ risk-weighted assets. Well-capitalized: ≥10%
0.00%
Texas Ratio
Non-performing loans ÷ equity. Danger zone: >100%
—
Equity Capital
Tangible book value as a capital buffer
$95M
Profitability Metrics
Return on Assets (ROA)
Net income ÷ assets. Healthy: ≥1%
-26.42%
Return on Equity (ROE)
Net income ÷ equity. Industry avg: ~10%
-125.51%
Efficiency Ratio
Operating costs ÷ revenue. Efficient: <60%
139.28%
Income & Expense Breakdown
$18M
Interest Income
$135M
Non-Interest Income
$218M
Non-Interest Expense
FDIC Deposit Insurance
Varo Bank, National Association is FDIC-insured (Certificate #59190). Your deposits are protected up to $250,000 per depositor, per account category regardless of this bank's health grade.
What the Numbers Say About Varo Bank, National Association
Varo Bank, National Association is an FDIC-insured institution (Certificate #59190) headquartered in Draper, Utah, established in 2020. The bank currently holds $376M in total assets and $211M in customer deposits, with $87M deployed as loans. It operates as a Nationally chartered (OCC) (National Bank) within the FDIC San Francisco region. These figures come directly from the bank's quarterly FDIC Call Report and reflect the balance sheet as of the latest regulatory filing.
On safety metrics, Varo Bank, National Association reports a Tier 1 Capital Ratio of 0.00% — below the 6% "adequately capitalized" minimum set by federal regulators and a Texas Ratio of —. Equity capital stands at $95M, serving as the tangible buffer against loan losses. On profitability, the bank posted a Return on Assets of -26.42% and a Return on Equity of -125.51%, with an Efficiency Ratio of 139.28% — above the 60% benchmark, meaning a larger share of revenue is consumed by operating costs. The combined picture yields a PlainBankData health grade of F (0/100), a composite score that blends all four dimensions.
Not financial advice. This page summarizes public FDIC Call Report data for informational purposes only. Health grades are our interpretation of regulatory filings and are not official FDIC ratings, endorsements, or predictions. Regardless of grade, every dollar on deposit at Varo Bank, National Association is protected by FDIC insurance up to $250,000 per depositor, per ownership category — even if the bank were to fail. For decisions about where to hold deposits, consult a qualified financial professional and verify the latest figures directly at the FDIC's BankFind Suite.
Top 5 banks in Utah by total assets
Source: FDIC BankFind Suite — Call Report (FFIEC 031/041) + CRA performance data Varo Bank, National Association (FDIC Cert #59190) — Tier 1 capital ratio, total assets, deposits, CRA rating · 2025 FDIC Call Reports filed quarterly; latest publicly-available vintage shown. Health grades are PlainBankData's interpretation of regulatory filings and are not official FDIC ratings.
Other Banks in Utah
All Utah banks →| Bank | Assets | Grade | ROA |
|---|---|---|---|
| Morgan Stanley Bank, National Association Salt Lake City | $253.3B | A | 1.86% |
| American Express National Bank Sandy | $211.3B | C | 3.89% |
| Ally Bank Sandy | $184.6B | C | 0.91% |
| UBS Bank USA Salt Lake City | $119.3B | B | 1.13% |
| Synchrony Bank Draper | $112.1B | B | 2.89% |
| Zions Bancorporation, N.A. Salt Lake City | $89.0B | C | 1.01% |
| SoFi Bank, National Association Cottonwood Heights | $46.6B | B | 1.96% |
| Sallie Mae Bank Salt Lake City | $29.7B | B | 2.90% |
Frequently Asked Questions
What is Varo Bank, National Association's health grade? ▼
Varo Bank, National Association receives a health grade of F (0/100) based on four FDIC financial metrics: Tier 1 Capital Ratio (40%), Return on Assets (25%), Texas Ratio (20%), and Efficiency Ratio (15%). This bank has significant financial challenges. All deposits remain FDIC-insured up to $250,000.
How large is Varo Bank, National Association? ▼
Varo Bank, National Association holds $376M in total assets and $211M in deposits. It is headquartered in Draper, Utah.
Is my money safe at Varo Bank, National Association? ▼
Yes. Varo Bank, National Association is FDIC-insured (Certificate #59190). Your deposits are protected up to $250,000 per depositor, per account category, regardless of the bank's health grade. If a bank fails, the FDIC typically makes insured deposits available within one business day.
What is Varo Bank, National Association's Tier 1 Capital Ratio? ▼
Varo Bank, National Association has a Tier 1 Capital Ratio of 0.00%. The federal "well-capitalized" threshold is 10%. This bank is below the 6% minimum for "adequately capitalized" status.
How efficient is Varo Bank, National Association? ▼
Varo Bank, National Association has an Efficiency Ratio of 139.28%. Above 60% means a larger share of revenue goes to operating costs. This metric compares non-interest expenses to total revenue.
Bank Safety Guides
Related Data Sources
Data from the FDIC BankFind Suite API. Financial data as of Q4 2025.
Related
Data sourced from official U.S. government datasets. See our methodology for details. Retrieved and formatted by PlainBankData Editorial
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the FDIC BankFind Suite. Consult a qualified professional before making decisions based on this data.
Read our methodology — how this data is sourced, computed, and verified.