Varo Bank, N.A.
Varo Bank, N.A. is an FDIC-insured commercial bank, during the regulatory-tailoring period. On its most recent Q1 2026 call report, Varo Bank reported $374M in total assets against $220M in deposits. Earnings turned negative this period, with ROA at -25.45%. Under the simplified Community Bank Leverage Ratio framework, leverage of 23.62% exceeds the 9% CBLR threshold. Credit metrics are pristine, with nonperforming loans at just 0.00%. The bank operates from a single office.
Headquarters Profile
- Address
- 11781 S Lone Peak Pkwy, DRAPER, UT 84020
- County
- Salt Lake
- Metro Area
- SALT LAKE CITY-MURRAY, UT
- Charter
- Commercial bank, national (federal) charter, Fed member, OCC-supervised
- Primary Regulator
- OCC
- Fed District
- 14
- Established
- August 1, 2020
- Branches
- 1 domestic
- Employees (FTE)
- 285
- FDIC Cert
- 59190
- Fed RSSD
- 5518023
- Website
- www.varomoney.com →
- Parent Holding Company
- VARO MONEY, INC. (RSSD 5463637)
Profitability
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Varo Bank, N.A. rankings
How this bank ranks against the full population of US commercial banks in each leaderboard. Click any rank to see the full ranked list.
Quarterly trend — last 6 quarters
Quarter-over-quarter movement in the five most-watched ratios. Sourced from the bank's own FFIEC call report filings.
Branch Network
Every branch from the FDIC Summary of Deposits — mapped, and listed with the deposits booked at each location.
| Branch | Location | ZIP | Deposits |
|---|---|---|---|
| Loading branches… | |||
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Frequently asked about Varo Bank, N.A.
What are Varo Bank, N.A.'s total assets?
As of the Q1 2026 filing, Varo Bank, N.A. reported total assets of $374.3 million in its most recent FFIEC call report. All figures come directly from the bank's quarterly Schedule RC filing.
Where is Varo Bank, N.A. headquartered?
Varo Bank, N.A. is headquartered in DRAPER, UT, United States. It files quarterly FFIEC call reports as required of all FDIC-insured commercial banks.
When was Varo Bank, N.A. founded?
Varo Bank, N.A. was established in 2020, per the FDIC institution directory.
Is Varo Bank, N.A. FDIC-insured?
Yes. Varo Bank, N.A. is an FDIC-insured commercial bank (FDIC Certificate #59190). Deposits are insured up to $250,000 per depositor, per insured bank, for each account ownership category, per FDIC rules.
Who regulates Varo Bank, N.A.?
Varo Bank, N.A.'s primary federal regulator is the OCC. All FDIC-insured banks also report to the FDIC and, depending on charter, the Federal Reserve.
How many branches does Varo Bank, N.A. operate?
Varo Bank, N.A. operates 1 domestic branch, per the most recent FDIC Summary of Deposits filing.
What is Varo Bank, N.A.'s Texas Ratio?
Varo Bank, N.A.'s Texas Ratio is 0.61% — within the healthy range (under 25%). The Texas Ratio measures non-performing assets against the bank's capital and reserves; see our /glossary/texas-ratio/ page for the full definition.
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