Total Assets
$376M
Total balance-sheet footings
FDIC Cert #59190 · Draper, Utah · Est. 2020
Varo Bank, National Association - FDIC Bank Health Profile
This profile flags real pressure points from the bank's own quarterly Call Report, read past the headline grade before drawing conclusions.
- $376M
- Total assets
- C
- Health grade · Fair
- -26.42%
- Return on assets
- 32.3%
- Tier 1 capital
Data updated July 2026
The verdict
Varo Bank, National Association earns a PlainBankData health grade of C (60/100), with well-capitalized at 32.32% Tier 1, -26.42% ROA, 139% efficiency ratio.
- #2,172
- largest of 4,313 FDIC banks by assets
- 50th
- percentile by asset size, nationally
- 32.32%
- Tier 1 ratio - above the 10% well-capitalized line
- 0th
- percentile for profitability (ROA), nationally
A weak grade is PlainBankData's own read of the Call Report data, not an official FDIC rating, and it does not change your insurance coverage: every dollar stays protected to $250,000 per depositor, per category.
How Varo Bank, National Association's 60/100 score adds up
Each factor is scored from this bank's own FDIC Call Report figures, then summed to the composite health score.
Varo Bank, National Association's composite health score
Tier 1 Capital Ratio (32.32%) 40/40
Return on Assets (ROA) (-26.42%) 0/25
Texas Ratio (0.71%) 20/20
Efficiency Ratio (139.28%) 0/15
60 of 100 points earned across four weighted factors. See our methodology for the full scoring formula.
Balance sheet at a glance
Total Deposits
$211M
Customer-funded liabilities
Net Loans
$87M
Outstanding loan book
Net Income
$-91,762K
Bottom-line earnings
Capital adequacy vs federal thresholds
Where Varo Bank, National Association ranks
Every one of the 4,307 FDIC-insured banks with a computed health score, bucketed by score. Varo Bank, National Association's score of 60/100 falls in the highlighted band.
Varo Bank, National Association's size among FDIC-insured banks
Every one of the 4,307 FDIC-insured banks with reported assets, bucketed by total-asset scale (note the buckets are powers of 10, most banks cluster in the $100M-$1B range). Varo Bank, National Association's $376M falls in the highlighted band.
Safety metrics
Tier 1 capital ratio
Well-capitalized 10%
32.32% of risk-weighted assets - above the federal "well-capitalized" threshold of 10%.
Tier 1 Capital Ratio
32.32%
Texas Ratio
0.71%
Equity Capital
$95M
Profitability metrics
Return on Assets (ROA)
0th percentile nationally
-26.42%
Return on Equity (ROE)
-125.51%
Efficiency Ratio
139.28%
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. It holds $376M in total assets - 2,172nd of 4,313 FDIC-insured banks, $211M in customer deposits, and $87M in net loans. Capital-wise, the Tier 1 ratio sits at 32.32%, clearing the federal 10% well-capitalized bar; the Texas Ratio reads 0.71%, a healthy figure under the 50% watch level. That combination rolls up into a PlainBankData health grade of C (60 of 100), blending Tier 1 capital, ROA, the Texas Ratio, and efficiency. These figures come directly from the bank's quarterly FDIC Call Report.
Varo Bank, National Association sits 35th of 42 banks headquartered in Utah by total assets, placing it in the middle tier of the state's banking landscape.
Income & expense breakdown
$18M
Interest Income
$135M
Non-Interest Income
$218M
Non-Interest Expense
Asset quality, Texas Ratio detail
The Texas Ratio compares troubled assets to the capital available to absorb losses. Varo Bank, National Association reports a Texas Ratio of 0.71% - comfortably in the healthy band; non-performing loans are a small fraction of the bank’s loss-absorbing capital.
Texas Ratio
Caution 50%
0.71% - lower is safer; 100% is the level at which troubled assets equal loss-absorbing capital.
What to watch at Varo Bank, National Association
Varo Bank, National Association's grade of C reflects specific pressure points in the FDIC Call Report. The bank reported negative net income of $-91,762K for the period, a loss that, if sustained, erodes the equity cushion.
Your deposits are still protected. Regardless of grade, FDIC insurance covers every dollar on deposit at Varo Bank, National Association up to $250,000 per depositor, per ownership category. A weak grade signals institutional financial stress for analysts, it is not a prediction of failure, and it does not affect insured-deposit safety.
Top banks in Utah by total assets
Source: FDIC BankFind Suite, Call Report (FFIEC 031/041) Varo Bank, National Association (FDIC Cert #59190) - Tier 1 capital ratio, total assets, deposits, ROA/ROE · 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 AssociationSalt Lake City | $253.3B | A | 1.86% |
| American Express National BankSandy | $211.3B | A | 3.89% |
| Ally BankSandy | $184.6B | A | 0.91% |
| UBS Bank USASalt Lake City | $119.3B | A | 1.13% |
| Synchrony BankDraper | $112.1B | A | 2.89% |
| Zions Bancorporation, N.A.Salt Lake City | $89.0B | B | 1.01% |
| SoFi Bank, National AssociationCottonwood Heights | $46.6B | A | 1.96% |
| Sallie Mae BankSalt Lake City | $29.7B | A | 2.90% |
Frequently asked questions
What is Varo Bank, National Association's health grade?▼
Varo Bank, National Association receives a health grade of C (60/100) based on four FDIC financial metrics: Tier 1 Capital Ratio (40%), Return on Assets (25%), Texas Ratio (20%), and Efficiency Ratio (15%). This bank meets regulatory minimums but has some areas of financial weakness to monitor.
How large is Varo Bank, National Association?▼
Varo Bank, National Association holds $376M in total assets and $211M in deposits, ranking 2,172nd of 4,313 FDIC-insured banks by asset size. It is headquartered in Draper, Utah.
Is my money safe at Varo Bank, National Association?▼
Yes, deposits at Varo Bank, National Association (Certificate #59190) are FDIC-insured up to $250,000 per depositor, per ownership category, regardless of health grade.
What is Varo Bank, National Association's Tier 1 Capital Ratio?▼
Varo Bank, National Association has a Tier 1 Capital Ratio of 32.32%. That clears the federal 10% bar regulators use to call a bank "well-capitalized."
What is the Texas Ratio for Varo Bank, National Association?▼
Varo Bank, National Association has a Texas Ratio of 0.71%. Staying under 50% is the level analysts treat as healthy. The Texas Ratio measures non-performing loans against equity and reserves, a higher ratio signals greater exposure to loan losses.
How efficient is Varo Bank, National Association?▼
Varo Bank, National Association has an Efficiency Ratio of 139.28%. Past the 60% mark, a bigger slice of revenue is absorbed by operating costs. This metric compares non-interest expenses to total revenue.
What to do with this
How to read Varo Bank, National Association's profile as a depositor or analyst.
- Varo Bank, National Association's grade reflects capital, profitability, and asset quality, read the four pillars before drawing conclusions. How grades work
- Compare Varo Bank, National Association against other Utah banks before moving funds. Utah banks
Not financial advice. Health grades are PlainBankData's interpretation of public FDIC Call Report data, not official FDIC ratings or predictions. Verify the latest figures at the FDIC BankFind Suite.
Every figure on PlainBankData is rendered directly from FDIC federal source data, no number is typed in by an editor. Informational only, not professional advice; consult a qualified professional before acting on it. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error. Data current as of Q4 2025.
Disclaimer: Data from the FDIC BankFind Suite. PlainBankData does not rate or rank banks as investment or safety recommendations. Health grades are informational only, computed from public regulatory filings. Always verify current standing directly with FDIC.gov before making financial decisions.