Call reports 2020
VARO BANK, NATIONAL ASSOCIATION — 2020
What VARO BANK, NATIONAL ASSOCIATION reported to the FFIEC in 2020, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2020Q3 | 2020Q4 |
|---|---|---|
| Total assets | 148,876,000 | 515,114,000 |
| Total loans | 840,000 | 3,564,000 |
| Allowance for loan losses | 129,000 | 1,945,000 |
| Securities available for sale | 0 | 30,812,000 |
| Securities held to maturity | 0 | 0 |
| Trading assets | 0 | 0 |
| Total deposits | 38,000 | 415,271,000 |
| Interest-bearing deposits | 20,000 | 288,315,000 |
| Noninterest-bearing deposits | 18,000 | 126,956,000 |
| Equity capital | 122,572,000 | 81,845,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2020Q3 | 2020Q4 |
|---|---|---|
| Interest income | 72,000 | 270,000 |
| Interest expense | 0 | 739,000 |
| Net interest income | 72,000 | -469,000 |
| Noninterest income | 8,185,000 | 19,688,000 |
| Noninterest expense | 31,780,000 | 81,094,000 |
| Provision for loan losses | -40,000 | 3,367,000 |
| Pretax income | -23,483,000 | -65,242,000 |
| Income tax | 0 | 0 |
| Net income | -23,483,000 | -65,242,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2020Q3 | 2020Q4 |
|---|---|---|
| Tier 1 capital | 106,874,000 | 67,297,000 |
| Total capital | 107,004,000 | — |
| Risk-weighted assets | 23,048,000 | — |