Call reports 2021
VARO BANK, NATIONAL ASSOCIATION — 2021
What VARO BANK, NATIONAL ASSOCIATION reported to the FFIEC in 2021, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2021Q1 | 2021Q2 | 2021Q3 | 2021Q4 |
|---|---|---|---|---|
| Total assets | 403,496,000 | 247,876,000 | 731,746,000 | 649,283,000 |
| Total loans | 5,887,000 | 7,727,000 | 6,058,000 | 9,495,000 |
| Allowance for loan losses | 2,459,000 | 3,183,000 | 2,554,000 | 1,824,000 |
| Securities available for sale | 30,226,000 | 30,374,000 | 60,630,000 | 57,536,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 281,589,000 | 152,415,000 | 260,631,000 | 251,128,000 |
| Interest-bearing deposits | 172,268,000 | 91,165,000 | 148,377,000 | 143,126,000 |
| Noninterest-bearing deposits | 109,320,000 | 61,250,000 | 112,254,000 | 108,002,000 |
| Equity capital | 94,414,000 | 66,939,000 | 430,336,000 | 345,498,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2021Q1 | 2021Q2 | 2021Q3 | 2021Q4 |
|---|---|---|---|---|
| Interest income | 173,000 | 318,000 | 518,000 | 983,000 |
| Interest expense | 479,000 | 760,000 | 1,025,000 | 1,399,000 |
| Net interest income | -306,000 | -442,000 | -507,000 | -416,000 |
| Noninterest income | 16,998,000 | 38,303,000 | 56,291,000 | 74,829,000 |
| Noninterest expense | 59,859,000 | 134,530,000 | 222,587,000 | 327,156,000 |
| Provision for loan losses | 2,639,000 | 7,269,000 | 10,550,000 | 12,718,000 |
| Pretax income | -45,806,000 | -103,938,000 | -177,382,000 | -265,490,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | -45,806,000 | -103,938,000 | -177,382,000 | -265,490,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2021Q1 | 2021Q2 | 2021Q3 | 2021Q4 |
|---|---|---|---|---|
| Tier 1 capital | 80,733,000 | 52,912,000 | 416,897,000 | 334,289,000 |