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Varo Bank, National Association

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

Draper, UT

NEW · Q2 2026 RECAP

Your Quarter, Wrapped

A 35-second highlight reel of your Q2 — the wins worth celebrating and the one signal worth watching, pulled straight from your scorecard data.

Q2 2026 at a glance

  • 1 of 2,643 banks in the $100M-$1B peer group nationwide — 1 of 13 in UT.
  • Deposits +30.2% year over year ($209.8M on the books).
  • Delinquency rate 0.46%.
  • Return on assets -25.68%.
  • Efficiency ratio 131.06% vs a 64.48% peer average.
  • Loan-to-deposit ratio 41.65% vs a 77.95% peer average.

Animation disabled (reduced-motion preference). Full details in the Core Metrics table below.

2643 banks in the $100M-$1B peer group nationally 13 in UT
View $100M-$1B leaderboard (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 6.5% in tier
  • + Revenue Diversifier: Top 33.9% in tier
  • + Delinquency Rate 0.45% below tier average

Key Concerns

Areas that may need attention

  • - Efficiency Drag: Bottom 12.5% in tier
  • - Return on Assets 27.00% below tier average
Get updates when Varo Bank, National Association releases new data →

Core Metrics

As of 2026-Q2

Metric Current vs Tier Tier Avg State Avg (UT) National Avg Tier Percentile
Total Assets ? $337.8M
+19.8% YoY -9.7% QoQ
-$48.7M $386.6M
+1.2% YoY
$31.1B
+21.2% YoY
$6.3B
+7.7% YoY
52%
Total Loans ? $87.4M
+12.1% YoY -4.1% QoQ
-$171.0M $258.3M
+1.7% YoY
$18.5B
+10.6% YoY
$3.2B
+9.4% YoY
Bottom 13.5% in tier
Total Deposits ? $209.8M
+30.2% YoY -4.7% QoQ
-$116.9M $326.7M
+0.7% YoY
$23.9B
+15.2% YoY
$4.9B
+7.3% YoY
36%
Return on Assets ? -25.68%
-2.4% YoY -4.1% QoQ
-27.00% 1.32%
+10.8% YoY
2.15%
+9.7% YoY
1.30%
+12.1% YoY
Bottom 0.1% in tier
Net Interest Margin ? 7.26%
+28.5% YoY +7.1% QoQ
+3.28% 3.99%
+5.0% YoY
7.81%
+8.6% YoY
3.95%
+4.9% YoY
Top 0.3% in tier
Efficiency Ratio ? 131.06%
-9.4% YoY +0.6% QoQ
+66.58% 64.48%
-3.2% YoY
105.46%
+37.7% YoY
70.05%
+2.5% YoY
Bottom 0.8% in tier
Delinquency Rate ? 0.46%
-14.4% YoY -21.1% QoQ
-0.45% 0.92%
+15.7% YoY
1.38%
+2.5% YoY
0.98%
+16.3% YoY
48%
Loan-to-Deposit Ratio ? 41.65%
-13.9% YoY +0.6% QoQ
-36.30% 77.95%
+1.0% YoY
83.52%
+2.9% YoY
79.03%
+2.3% YoY
Top 4.7% in tier
Non-Interest-Bearing Deposit Share ? 55.87%
-21.9% YoY +0.2% QoQ
+33.84% 22.03%
-0.6% YoY
17.78%
-2.6% YoY
21.98%
-0.6% YoY
Top 1.0% in tier
Nonperforming Asset Ratio ? 0.12%
-19.9% YoY -16.1% QoQ
-0.55% 0.67%
+16.4% YoY
0.92%
+4.0% YoY
0.69%
+15.8% YoY
68%
Tier 1 Capital Ratio ? 18.46%
-10.4% YoY -21.9% QoQ
+2.55% 15.91%
+1.4% YoY
21.39%
+2.0% YoY
17.09%
+0.8% YoY
83%
Non-Interest Income / Assets ? 21.66%
-11.0% YoY +123.7% QoQ
+21.09% 0.57%
+7.6% YoY
2.21%
+5.7% YoY
0.66%
+5.2% YoY
Top 0.3% in tier

Additional Detail

Deposit mix, loan mix, capital, efficiency, asset quality & profitability · As of 2026-Q2

Deposit Composition

% of total deposits

Metric Current vs Tier Tier Avg State Avg (UT) National Avg Tier Percentile
Noninterest-Bearing 55.9%
-15.7pp YoY
+0.1pp QoQ
 +33.7pp 22.1% 20.1% 22.2% 99%
Brokered Deposits n/a n/a 7.9% 28.6% 8.5% n/a

Loan Composition

% of total loans & leases

Metric Current vs Tier Tier Avg State Avg (UT) National Avg Tier Percentile
C&I n/a n/a 11.6% 25.0% 12.5% n/a
CRE n/a n/a 39.5% 44.1% 41.4% n/a
1-4 Family n/a n/a 32.6% 13.8% 31.3% n/a
Consumer 110.4%
+3.6pp YoY
+0.7pp QoQ
 +106.3pp 4.1% 45.8% 5.0% 100%

Capital

Metric Current vs Tier Tier Avg State Avg (UT) National Avg Tier Percentile
CET1 Ratio n/a n/a 18.8% 25.0% 19.7% n/a
Leverage Ratio 18.5%
-2.1pp YoY
-5.2pp QoQ
 +6.3pp 12.2% 15.7% 12.6% 95%
Total Capital Ratio n/a n/a 19.9% 26.3% 20.8% n/a

Efficiency & Staffing

Metric Current vs Tier Tier Avg State Avg (UT) National Avg Tier Percentile
Full-Time Employees 270
-102 (-27.4%) YoY
-15 (-5.3%) QoQ
 +211 58 1,029 482 99%
Assets per Employee ($) $1.3M
+65.1% YoY
-4.7% QoQ
 -$6.3M $7.5M $39.6M $8.8M 0%
Branch Count 1
0 YoY
0 QoQ
 -4 4 13 18 0%

Asset Quality

Metric Current vs Tier Tier Avg State Avg (UT) National Avg Tier Percentile
Past Due 90+ Days 0.5%
-0.1pp YoY
-0.1pp QoQ
 +0.1pp 0.3% 0.6% 0.4% 81%
Nonaccrual 0.0%
0.0pp YoY
 -0.9pp 0.9% 1.2% 1.0% 1%
Allowance Coverage 23.93x
+68.5% YoY
+33.9% QoQ
 -0.22x 24.15x 7.86x 20.23x 90%
Net Charge-off Rate (YTD) 29.6%
+11.1pp YoY
+0.5pp QoQ
 +29.4pp 0.1% 3.6% 0.2% 100%

Profitability

Metric Current vs Tier Tier Avg State Avg (UT) National Avg Tier Percentile
ROE -109.6%
+15.8pp YoY
-10.1pp QoQ
 -121.8pp 12.2% 15.9% 11.6% 0%
Cost of Funds (YTD) 1.3%
-0.1pp YoY
+0.2pp QoQ
 -0.5pp 1.7% 2.3% 1.7% 22%
Net Income ($, YTD) $-46573000.0
-2.7% YoY
— QoQ
 -$49.1M $2.6M $307.8M $40.4M 0%

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
#19 of 278 • Top 6.5% 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: 55.87%
(Tier: 22.03%, National: 21.98%)
better than tier avg
Net Interest Margin: 7.26%
(Tier: 3.99%, National: 3.95%)
better than tier avg
278 of 278 Community banks match · 368 nationally
→ Stable -1 banks QoQ | QoQ rank improving

Revenue Diversifier

growth
#225 of 661 • 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: 21.66%
(Tier: 0.57%, National: 0.66%)
better than tier avg
Return on Assets: -25.68%
(Tier: 1.32%, National: 1.30%)
but worse than tier avg
661 of 661 Community banks match · 923 nationally
→ Stable

Concerns (1)

Efficiency Drag

risk
#46 of 361 • Bottom 12.5% in tier

Efficiency ratio above 80% - operating costs elevated relative to revenue. Margin improvement opportunity.

Why this signature
Efficiency Ratio: 131.06%
(Tier: 64.48%, National: 70.05%)
worse than tier avg
361 of 361 Community banks match · 426 nationally
↓ Shrinking -64 banks QoQ | QoQ rank improving

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).
Comparing against 2643 peers in $100M-$1B

Top Strengths (5 metrics)

10
Net Interest Margin
profitability
Value: 7.26%
Peer Median: 3.99%
#10 of 2643 Top 0.3% in $100M-$1B
10
Non-Interest Income / Assets
revenue_mix
Value: 21.66%
Peer Median: 0.57%
#10 of 2643 Top 0.3% in $100M-$1B
27
Non-Interest-Bearing Deposit Share
funding
Value: 55.87%
Peer Median: 22.03%
#27 of 2643 Top 1.0% in $100M-$1B
125
Loan-to-Deposit Ratio
liquidity
Value: 41.65%
Peer Median: 77.95%
#125 of 2643 Top 4.7% in $100M-$1B
462
Tier 1 Capital Ratio
capital
Value: 18.46%
Peer Median: 15.91%
#462 of 2643 Top 17.4% in $100M-$1B

Top Weaknesses (3 metrics)

2643
Return on Assets
profitability
Value: -25.68%
Peer Median: 1.32%
#2643 of 2643 Bottom 0.1% in $100M-$1B
2624
Efficiency Ratio
profitability
Value: 131.06%
Peer Median: 64.48%
#2624 of 2643 Bottom 0.8% in $100M-$1B
2286
Total Loans
size
Value: $87.39M
Peer Median: $258.35M
#2286 of 2643 Bottom 13.5% in $100M-$1B
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