BlastPoint's Banking Scorecard

Varo Bank, National Association

$100M-$1B Specialty: Other UT FDIC cert 59190

Draper, UT

2664 banks in the $100M-$1B peer group nationally 12 in UT

Varo Bank, National Association has 3 strengths but faces 2 concerns

Key Strengths include matched growth signatures, metrics ranked in the top 10%, and values meaningfully above the tier average.

Key Concerns include matched risk or decline signatures, metrics ranked in the bottom 10%, and values meaningfully below the tier average.

Key Strengths

Areas where this bank excels compared to peers

+ Deposit Franchise: Top 7.3% in tier
+ Revenue Diversifier: Top 33.9% in tier
+ Delinquency Rate 0.30% below tier average

Key Concerns

Areas that may need attention

- Return on Assets 25.94% below tier average
- Efficiency Ratio 64.97% above tier average

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Core Metrics

As of 2026-Q1

Metric	Current	vs Tier	Tier Avg	State Avg (UT)	National Avg	Tier Percentile
Total Assets ?	$374.3M +5.3% YoY -0.5% QoQ	-$11.8M	$386.1M +0.5% YoY	$31.5B +16.1% YoY	$6.2B +9.1% YoY	58%
Total Loans ?	$91.1M +13.5% YoY +4.8% QoQ	-$164.6M	$255.7M +1.1% YoY	$18.8B +6.7% YoY	$3.2B +10.8% YoY	16%
Total Deposits ?	$220.1M +2.5% YoY +4.1% QoQ	-$107.9M	$328.0M +0.1% YoY	$24.2B +10.6% YoY	$4.8B +8.2% YoY	39%
Return on Assets ?	-24.68% +1.1% YoY +6.6% QoQ	-25.94%	1.27% +12.9% YoY	2.19% +3.7% YoY	1.23% +13.4% YoY	Bottom 0.1% in tier
Net Interest Margin ?	6.79% +47.0% YoY +4.2% QoQ	+2.85%	3.93% +6.0% YoY	7.79% +9.7% YoY	3.89% +5.7% YoY	Top 0.6% in tier
Efficiency Ratio ?	130.26% -15.2% YoY -6.5% QoQ	+64.97%	65.29% -4.5% YoY	105.45% +9.4% YoY	66.95% -4.1% YoY	Bottom 0.6% in tier
Delinquency Rate ?	0.59% -4.0% YoY -30.2% QoQ	-0.30%	0.89% +18.8% YoY	1.46% +7.1% YoY	0.95% +18.8% YoY	41%
Loan-to-Deposit Ratio ?	41.40% +10.7% YoY +0.7% QoQ	-35.23%	76.64% +0.8% YoY	84.36% +3.4% YoY	76.70% +0.9% YoY	Top 4.8% in tier
Non-Interest-Bearing Deposit Share ?	55.78% +20.6% YoY -21.0% QoQ	+33.76%	22.02% -1.0% YoY	17.87% +4.4% YoY	22.01% -1.2% YoY	Top 1.0% in tier
Nonperforming Asset Ratio ?	0.14% +3.4% YoY -26.4% QoQ	-0.50%	0.64% +19.7% YoY	1.01% +17.9% YoY	0.67% +19.3% YoY	65%
Tier 1 Capital Ratio ?	23.62% +2.3% YoY -26.9% QoQ	+7.79%	15.83% +1.5% YoY	22.97% +16.9% YoY	17.06% +0.8% YoY	Top 7.9% in tier
Non-Interest Income / Assets ?	9.68% -0.4% YoY -73.1% QoQ	+9.40%	0.28% +9.3% YoY	1.04% +5.8% YoY	0.32% +4.1% YoY	Top 0.4% in tier

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$250B+

12 performance metrics with tier, state, and national benchmarks

Signature behaviors (strengths & concerns)

Metric and signature rankings across 4,287 FDIC-insured banks

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Signature Analysis

Composite behavioral patterns that combine multiple metrics to identify what stands out about this bank. Matched signatures only; metric-level callouts appear in the Key Strengths / Key Concerns summary above.

Strengths are growth signatures this bank matches (e.g. Revenue Diversifier, Profitability Leader).

Concerns are risk or decline signatures this bank matches (e.g. Margin Compression, Credit Quality Pressure).

Strengths (2)

Deposit Franchise

growth

#21 of 272 • Top 7.3% in tier

Top-quartile non-interest-bearing deposits AND top-quartile NIM. A premium deposit franchise translating into above-peer spread.

Why this signature

Noninterest-Bearing Deposit Share: 55.78%

(Tier: 22.02%, National: 22.01%)

better than tier avg

Net Interest Margin: 6.79%

(Tier: 3.93%, National: 3.89%)

better than tier avg

272 of 272 Community banks match · 369 nationally

→ Stable -14 banks QoQ

Revenue Diversifier

growth

#227 of 666 • Top 33.9% in tier

Top-quartile non-interest income relative to assets. Revenue less dependent on spread - more resilient to rate cycles.

Why this signature

Noninterest Income / Assets: 9.68%

(Tier: 0.28%, National: 0.32%)

better than tier avg

Return on Assets: -24.68%

(Tier: 1.27%, National: 1.23%)

but worse than tier avg

666 of 666 Community banks match · 926 nationally

→ Stable +3 banks QoQ | QoQ rank declining

Concerns (0)

No matched concern signatures this quarter

Metric Rankings

See how this bank ranks across all tracked metrics compared to peers.

Strengths are metrics in the top 25% (75th percentile or higher).

Concerns are metrics in the bottom 25% (25th percentile or lower).

Compare against:

Comparing against 2664 peers in $100M-$1B

Top Strengths (5 metrics)

Non-Interest Income / Assets

revenue_mix

Value: 9.68%

Peer Median: 0.28%

#11 of 2664 Top 0.4% in $100M-$1B

Net Interest Margin

profitability

Value: 6.79%

Peer Median: 3.93%

#17 of 2664 Top 0.6% in $100M-$1B

Non-Interest-Bearing Deposit Share

funding

Value: 55.78%

Peer Median: 22.02%

#28 of 2664 Top 1.0% in $100M-$1B

129

Loan-to-Deposit Ratio

liquidity

Value: 41.40%

Peer Median: 76.64%

#129 of 2664 Top 4.8% in $100M-$1B

211

Tier 1 Capital Ratio

capital

Value: 23.62%

Peer Median: 15.83%

#211 of 2664 Top 7.9% in $100M-$1B

Top Weaknesses (3 metrics)

2663

Return on Assets

profitability

Value: -24.68%

Peer Median: 1.27%

#2663 of 2664 Bottom 0.1% in $100M-$1B

2650

Efficiency Ratio

profitability

Value: 130.26%

Peer Median: 65.29%

#2650 of 2664 Bottom 0.6% in $100M-$1B

2234

Total Loans

size

Value: $91.11M

Peer Median: $255.72M

#2234 of 2664 Bottom 16.2% in $100M-$1B