Call reports 2024
VARO BANK, NATIONAL ASSOCIATION — 2024
What VARO BANK, NATIONAL ASSOCIATION reported to the FFIEC in 2024, quarter by quarter.
Balance sheet
What the bank holds and owes at quarter end
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Total assets | 532,887,000 | 480,409,000 | 427,165,000 | 447,615,000 |
| Total loans | 63,367,000 | 66,718,000 | 71,937,000 | 77,104,000 |
| Allowance for loan losses | 3,180,000 | 3,841,000 | 4,761,000 | 4,967,000 |
| Securities available for sale | 56,456,000 | 51,236,000 | 50,127,000 | 46,711,000 |
| Securities held to maturity | 0 | 0 | 0 | 0 |
| Trading assets | 0 | 0 | 0 | 0 |
| Total deposits | 379,143,000 | 339,216,000 | 302,422,000 | 336,750,000 |
| Interest-bearing deposits | 192,696,000 | 171,149,000 | 159,782,000 | 163,486,000 |
| Noninterest-bearing deposits | 186,447,000 | 168,067,000 | 142,639,000 | 173,264,000 |
| Equity capital | 100,482,000 | 89,541,000 | 76,825,000 | 60,068,000 |
Income
Cumulative from the start of the year, as filed — Q1 covers January to March, Q2 January to June, Q4 the full year
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Interest income | 4,122,000 | 7,499,000 | 11,173,000 | 15,642,000 |
| Interest expense | 1,520,000 | 2,895,000 | 4,167,000 | 5,404,000 |
| Net interest income | 2,602,000 | 4,604,000 | 7,006,000 | 10,238,000 |
| Noninterest income | 35,698,000 | 70,870,000 | 106,518,000 | 139,142,000 |
| Noninterest expense | 52,115,000 | 99,278,000 | 149,735,000 | 199,727,000 |
| Provision for loan losses | 2,465,000 | 6,060,000 | 10,888,000 | 14,627,000 |
| Pretax income | -16,280,000 | -29,864,000 | -47,099,000 | -64,974,000 |
| Income tax | 0 | 0 | 0 | 0 |
| Net income | -16,280,000 | -29,864,000 | -47,099,000 | -64,974,000 |
Regulatory capital
Basel measures — not reported for every quarter
| Measure | 2024Q1 | 2024Q2 | 2024Q3 | 2024Q4 |
|---|---|---|---|---|
| Tier 1 capital | 101,714,000 | 86,026,000 | 70,229,000 | 52,904,000 |