SoFi Bank, National Association

For information concerning SoFi Bank online bank, please click here.

SoFi Bank, National Association is an FDIC insured institution headquartered at 2750 E Cottonwood Pkwy, Cottonwood Heights, UT 84121.
It was founded in 1986 and has approximately $24 billion in assets. Customers can open an account at one of its 4 branches.

Deposit Rates - May 21, 2024

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 26881
Date Established 1986
Assets $ 24.06 billion
Loans $ 19.76 billion
Deposits $ 18.88 billion
Capital $ 3.40 billion

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 3.05 billion
Interest-bearing balances $ 2.97 billion
Total securities $ 552.62 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 19.76 billion
Loan loss allowance $ 54.70 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 86.22 million
All other assets $ 119.67 million
     Total Assets $ 20.66 billion

LIABILITIES
Total deposits $ 18.88 billion
      Interest-bearing deposits $ 18.82 billion
      Deposits held in domestic offices $ 18.88 billion
      % insured (estimated) 96.79%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 571.05 million
Subordinated debt N.A.
All other liabilities $ 130.08 millionn
      Total Liabilities $ 20.66 billion
      Shareholders’ Equity $ 3.40 billion

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 1,707.42 million
Total Interest Expense $ 587.88 million
Net interest income $ 1,119.54 million
Provision for loan and lease losses $ 54.95 million
Total non interest income $ 535.27 million
Total non interest expense $ 1,136.18 million
Pre-tax Net Operating Income $ 33.27 million


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Branches

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SoFi Bank, National Association Locations