Draper, UT · Cert 59190 · Varo Money Inc.
National charter · OCC · 1 branch
Q2 2026
Board Package
Performance Trends and Peer Comparison
Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.
Income statement: year to date as filed, annualized, on both parts.
Balance sheet: as filed at quarter end.
Banks under $1B in assets (n=581 to 629). Each measure ranks only the institutions that reported it, so n varies by measure.
Peer groups below the disclosure floor are suppressed.
Capital
77
Asset Quality
26
Profitability
32
Liquidity
0
Efficiency
4
Growth
No peer data yet
Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.
Draper, UT · Cert 59190 · Varo Money Inc.
National charter · OCC · 1 branch
Q2 2026
Market Position · Salt Lake City-Murray, UT · 2026 SOD (annual) · 0.0% share · #37 of 57 inst. · $0.2B of $1175.7B
Return on Assets (YTD, annualized)
Net Interest Margin (YTD, annualized)
Efficiency Ratio (YTD, annualized)
Tier 1 Leverage Ratio
Year to date, annualized, through each quarter.
| Metric | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | YoY Δ | Trend |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||||
| Return on Assets | -13.04% | -13.68% | -24.96% | -25.08% | -27.83% | -26.42% | -24.68% | -25.68% | -59 bps | |
| Return on Equity | -67.06% | -74.74% | -135.77% | -125.34% | -139.76% | -125.51% | -99.49% | -109.59% | +1,575 bps | |
| Net Interest Margin | 2.48% | 2.81% | 3.98% | 4.98% | 5.78% | 5.85% | 4.95% | 5.19% | +20 bps | |
| Efficiency Ratio | 129.17% | 130.97% | 153.60% | 144.62% | 144.70% | 139.28% | 130.26% | 131.06% | -1,356 bps | |
| Non-Interest Burden | 14.80% | 15.96% | 28.05% | 28.81% | 32.21% | 29.72% | 21.51% | 23.14% | -567 bps | |
| Growth | ||||||||||
| Asset Growth (YoY) | -17.97% | -7.96% | -33.33% | -41.32% | -35.50% | -15.96% | 5.34% | 19.85% | +6,117 bps | |
| Loan Growth (YoY) | 57.01% | 45.58% | 34.35% | 25.83% | 21.65% | 24.14% | 18.25% | 15.64% | -1,019 bps | |
| Deposit Growth (YoY) | -12.64% | 3.85% | -43.38% | -52.48% | -47.19% | -37.22% | 2.52% | 30.17% | +8,265 bps | |
| Asset Quality | ||||||||||
| Nonperforming Loans / Loans | 0.00% | 0.31% | 0.58% | 0.50% | 0.80% | 0.76% | 0.53% | 0.42% | -9 bps | |
| Net Charge-Offs / Loans | 17.24% | 16.64% | 16.95% | 18.11% | 20.86% | 21.79% | 28.37% | 29.82% | +1,172 bps | |
| Allowance / Loans | 6.62% | 6.44% | 5.74% | 7.14% | 8.15% | 9.18% | 9.50% | 9.98% | +284 bps | |
| Allowance Coverage of NPLs | n/a | 21.0x | 9.9x | 14.2x | 10.1x | 12.0x | 17.9x | 23.9x | +9.7x | |
| Capital | ||||||||||
| Tier 1 Leverage Ratio | 18.66% | 14.50% | 23.08% | 20.60% | 16.67% | 32.32% | 23.62% | 18.46% | -215 bps | |
| Total Risk-Based Capital | 18.66% | 14.50% | 23.08% | 20.60% | 16.67% | 32.32% | 23.62% | 18.46% | -215 bps | |
| Equity / Assets | 17.98% | 13.42% | 24.64% | 24.65% | 19.52% | 25.16% | 24.43% | 20.39% | -426 bps | |
| Liquidity & Funding | ||||||||||
| Loans / Deposits | 23.79% | 22.90% | 39.66% | 52.08% | 54.80% | 45.27% | 45.75% | 46.27% | -582 bps | |
| Liquid Assets / Assets | 52.14% | 47.00% | 36.59% | 20.14% | 16.40% | 33.88% | 38.11% | 23.94% | +380 bps | |
| CRE / Total Capital | n/a | n/a | n/a | n/a | 0.00% | 0.00% | 0.00% | n/a | n/a | |
Draper, UT · Cert 59190 · Peer group: banks under $1B in assets (n=581-629) · Varo Money Inc.
National charter · OCC · 1 branch
Q2 2026
Return on Assets
-27.57%
Rank 628 of 629
Net Interest Margin
5.19%
Rank 18 of 629
Efficiency Ratio
138.16%
Rank 607 of 629
Equity / Assets
20.39%
Rank 80 of 629
| Metric | Your Bank | Peer 25th | Peer Median | Peer 75th | Standing | Rank | 8-Qtr Trend | Peer Position |
|---|---|---|---|---|---|---|---|---|
| Earnings | ||||||||
| Return on Assets | -27.57% | 0.60% | 1.01% | 1.45% | Beats 0% | 628 / 629 | ||
| Return on Equity | -135.23% | 5.38% | 9.30% | 13.28% | Beats 0% | 628 / 629 | ||
| Net Interest Margin | 5.19% | 3.03% | 3.54% | 4.05% | Beats 97% | 18 / 629 | ||
| Efficiency Ratio | 138.16% | 58.35% | 67.79% | 79.08% | Beats 4% | 607 / 629 | ||
| Asset Quality | ||||||||
| Nonperforming Loans / Loans | 0.42% | 0.09% | 0.46% | 1.20% | Beats 52% | 277 / 581 | ||
| Net Charge-Offs / Loans | 16.96% | n/a | 0.01% | 0.06% | Beats 0% | 581 / 581 | ||
| Capital | ||||||||
| Tier 1 Capital Ratio | 18.46% | 11.24% | 13.84% | 18.77% | Beats 74% | 165 / 629 | ||
| Total Risk-Based Capital Ratio | 18.46% | 11.58% | 14.43% | 19.66% | Beats 71% | 181 / 629 | ||
| Equity / Assets | 20.39% | 9.09% | 10.65% | 13.80% | Beats 87% | 80 / 629 | ||
| Liquidity & Funding | ||||||||
| Loans / Deposits | 46.27% | 67.24% | 80.90% | 93.48% | 9th pctl | 539 / 594 | ||
| Loans / Assets | 28.74% | 53.31% | 67.71% | 78.15% | 10th pctl | 564 / 629 | ||
| Brokered Deposits / Deposits | n/a | Not reported for this institution | ||||||