Varo Bank, National Association
Draper, UT · Owner: Varo Money Inc
$338M
total assets, June 30, 2026
$338M
total assets, June 30, 2026
Varo Bank, National Association is a national bank based in Draper, UT, owned by Varo Money Inc. As of June 30, 2026 it held $337.8 million in assets and $209.8 million in deposits; assets were up 19.9% from a year before. It has 1 branch.
Updated Oct 11, 2026 · numbers as of June 30, 2026
Total assets
$338M
+19.9% in a year · -9.7% in a quarter
Deposits
$210M
+30.2% in a year · -4.7% in a quarter
Loans
$97.1M
+15.6% in a year · -3.6% in a quarter
Profit so far
-$46.6M
Jan 1 to Jun 30, 2026
Capital ratio
18.45%
-2.15 pts in a year
Return on assets
-25.68%
-0.59 pts in a year
Facts
- Type
- National bank
- Head office
- 11781 S Lone Peak Pkwy, Draper, UT, 84020
- County
- Salt Lake
- Holding company
- Varo Money Inc
- Established
- Aug 1, 2020
- Employees
- 270
- Branches
- 1
- Website
- www.varomoney.com
- Id
- b59190
Quarter by quarter
September 30, 2020 to June 30, 2026
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Branches
1 office as of June 30, 2026, holding $209.8 million in deposits
Branch map
Every branch, sized by its deposits
| State | Branches | Deposits | Share |
|---|---|---|---|
| Utah | 1 | $210M | 100.0% |
Related pages
Questions and answers
How big is Varo Bank, National Association?
$337.8 million in total assets and $209.8 million in deposits as of June 30, 2026, with assets up 19.9% from a year before. Its loans were $97.1 million.
How many branches does Varo Bank, National Association have?
1 branch in Utah as of June 30, 2026.
Is Varo Bank, National Association profitable?
No: it lost $46.6 million from January 1 to June 30, 2026. Its return on assets was -25.68% a year; about 1% is typical.
Who owns Varo Bank, National Association?
Varo Bank, National Association is owned by Varo Money Inc, its holding company.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.