Call reports 2023
VARO BANK, NATIONAL ASSOCIATION — 2023
What VARO BANK, NATIONAL ASSOCIATION reported to the FFIEC in 2023, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Total assets | 563,519,000 | 554,816,000 | 520,736,000 | 486,350,000 |
| Total loans | 40,418,000 | 41,528,000 | 45,817,000 | 52,963,000 |
| Allowance for loan losses | 2,762,000 | 3,627,000 | 3,496,000 | 3,172,000 |
| Securities available for sale | 84,967,000 | 70,238,000 | 65,934,000 | 61,307,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 395,680,000 | 360,829,000 | 346,175,000 | 324,267,000 |
| Interest-bearing deposits | 215,661,000 | 196,434,000 | 186,172,000 | 164,333,000 |
| Noninterest-bearing deposits | 180,019,000 | 164,395,000 | 160,003,000 | 159,934,000 |
| Equity capital | 123,474,000 | 149,862,000 | 125,624,000 | 107,732,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Interest income | 4,128,000 | 9,502,000 | 14,567,000 | 19,010,000 |
| Interest expense | 1,582,000 | 3,370,000 | 5,036,000 | 6,531,000 |
| Net interest income | 2,546,000 | 6,132,000 | 9,531,000 | 12,479,000 |
| Noninterest income | 26,991,000 | 53,925,000 | 79,957,000 | 109,934,000 |
| Noninterest expense | 55,971,000 | 110,049,000 | 163,043,000 | 215,772,000 |
| Provision for loan losses | 2,449,000 | 6,468,000 | 9,304,000 | 11,928,000 |
| Pretax income | -28,883,000 | -56,460,000 | -82,859,000 | -105,287,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | -28,883,000 | -56,460,000 | -82,859,000 | -105,287,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2023Q1 | 2023Q2 | 2023Q3 | 2023Q4 |
|---|---|---|---|---|
| Tier 1 capital | 125,630,000 | 153,225,000 | 130,115,000 | 109,525,000 |