USAA Savings Bank (merged into USAA Federal Savings Bank)
USAA Savings Bank reported total assets of $2.6 bn at Q1 2024, its last Call Report before it merged into USAA Federal Savings Bank. The CET1 capital ratio at USAA Savings Bank was 94.68%, and the uninsured share of USAA Savings Bank was 6.59%. Source: FDIC Call Reports.
What sets USAA Savings Bank apart
Nothing in the latest data sets USAA Savings Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is USAA Savings Bank?
The balance sheet of USAA Savings Bank at : assets $2.6 bn, deposits $157.0 mn, net loans $0. Securities make up 23.2% of total assets at USAA Savings Bank. Since , when USAA Savings Bank held $1.8 bn, its assets grew 46.5%. In the year to , deposits at USAA Savings Bank rose 3.6% while its total assets rose 15.1%. At , USAA Savings Bank employed 4 full-time equivalent staff across 1 office, about $656.0 mn of assets per employee and $157.0 mn of deposits per office.
How much funding at USAA Savings Bank is uninsured?
At USAA Savings Bank, uninsured deposits (above the FDIC limit) made up 6.59% of domestic deposits at (-0.33 pp on a year earlier). In dollars, USAA Savings Bank estimated $10.3 mn of uninsured deposits.
Key facts, Q1 2024
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $157.0 mn | $151.6 mn (Q1 2023) | |
| Net loans and leases | $0 | $0 (Q1 2023) | |
| Loan-to-deposit ratio | 0.00% | 0.00% (Q1 2023) | |
| Tier 1 leverage ratio | 35.76% | 31.60% (Q1 2023) | |
| Total risk-based capital ratio | 94.68% | 110.36% (Q1 2023) | |
| Net interest margin | 4.03% | 3.71% (Q1 2023) | |
| Return on assets (ROA) | 11.18% | 13.57% (Q1 2023) | |
| Efficiency ratio | 68.23% | 65.07% (Q1 2023) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $1.1 mn | Widened by $182,000 | |
| Unrealized gain/loss on available-for-sale securities | Loss of $21.3 mn | Widened by $2.0 mn | |
| Noncurrent loans to total loans | 0.00% | 0.00% (Q1 2023) | |
| Net charge-offs to average loans | 0.00% | 0.00% (Q1 2023) |
US rank of USAA Savings Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
USAA Savings Bank: assets, deposits and loans
- Total assets $2.6bn
- Deposits $157mn
- Net loans $0
Capital and securities
The CET1 ratio of USAA Savings Bank stood at 94.68% in , -15.68 pp year on year. Low and high at USAA Savings Bank since : 54.92% () to 151.95% (). Equity capital of USAA Savings Bank at : $797.8 mn, or 30.4% of total assets. USAA Savings Bank also reported a total capital ratio of 94.68% for , and a tier 1 leverage ratio of 35.76%.
On held-to-maturity securities, USAA Savings Bank carried an unrealized loss of $1.1 mn at , equal to 0.1% of equity capital. The loss widened by $182,000 over the year. Its deepest point: $11.0 mn in . The available-for-sale portfolio of USAA Savings Bank showed an unrealized loss of $21.3 mn at ; the loss widened by $2.0 mn over the year.
USAA Savings Bank: capital ratios
- Total capital 95%
- CET1 95%
- Tier 1 leverage 36%
USAA Savings Bank: unrealized securities gains and losses
- Available for sale -$21mn
- Held to maturity -$1mn
Profitability and loan quality
For the year to , USAA Savings Bank earned a return on equity of 37.89%; return on assets: 11.18%. Net interest margin at USAA Savings Bank: 4.03%, +0.33 pp in a year. USAA Savings Bank net income: $72.6 mn, down 7.6% year on year. The efficiency ratio of USAA Savings Bank was 68.23%: about 68 cents cost per revenue dollar, against 56 cents at the median peer.
At , noncurrent loans were 0.00% of total loans at USAA Savings Bank; net charge-offs: 0.00% of average loans. Gross loans and leases at USAA Savings Bank: $0.
USAA Savings Bank: profitability
- Return on equity 38%
- Net interest margin 4.0%
- Return on assets 11%
Peer group of USAA Savings Bank
The peer group of USAA Savings Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 1 shares the charter type of USAA Savings Bank (state nonmember bank) and 0 have head offices in Nevada. Against them, USAA Savings Bank shows CET1 ratio 94.68% against a peer median of 12.82%, return on equity 37.89% against a peer median of 11.02% and uninsured deposit share 6.59% against a peer median of 34.70%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| American First National Bank | National bank | TX | $2.6 bn | 13.69% | 12.06% | 19.44% | |
| Centreville Bank | State-chartered stock savings bank | RI | $2.6 bn | not reported | 8.56% | 15.04% | |
| St. Charles Bank & Trust Company | National bank | IL | $2.6 bn | 11.01% | 15.86% | 28.37% | |
| USAA Savings Bank | State nonmember bank | NV | $2.6 bn | 94.68% | 37.89% | 6.59% | |
| Macatawa Bank | National bank | MI | $2.6 bn | 17.67% | 14.58% | 41.03% | |
| UniBank for Savings | State nonmember bank | MA | $2.6 bn | 12.82% | 9.97% | 54.85% | |
| Quad City Bank and Trust Company | State member bank | IA | $2.6 bn | 11.52% | 7.49% | 43.58% | |
. FDIC Call Reports.
Last eight quarters
Two years at USAA Savings Bank, to : assets $2.3 bn to $2.6 bn, deposits $158.9 mn to $157.0 mn, equity $725.0 mn to $797.8 mn. Staff 8 to 4.
| Metric | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $2.3 bn | $2.2 bn | $2.3 bn | $2.3 bn | $2.3 bn | $2.4 bn | $2.6 bn | $2.6 bn |
| Total deposits | $158.9 mn | $153.4 mn | $149.9 mn | $151.6 mn | $153.0 mn | $154.8 mn | $155.7 mn | $157.0 mn |
| Bank equity capital | $725.0 mn | $576.5 mn | $635.1 mn | $697.7 mn | $720.7 mn | $743.5 mn | $734.3 mn | $797.8 mn |
| CET1 ratio | 84.32% | 109.80% | 84.66% | 110.36% | 104.54% | 92.24% | 82.37% | 94.68% |
| Return on equity (ROE) | 91.67% | 78.04% | 73.00% | 47.13% | 45.68% | 44.25% | 44.87% | 37.89% |
| Uninsured share of domestic deposits | 8.10% | 7.60% | 7.06% | 6.92% | 6.90% | 6.70% | 6.73% | 6.59% |
| Full-time equivalent employees | 8 | 7 | 6 | 6 | 6 | 6 | 5 | 4 |
| Number of offices | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of USAA Savings Bank, oldest first; figures before and after each event are not like for like.
- . Merged into USAA Federal Savings Bank (FDIC certificate 32188).
Questions and identifiers
What were the total assets of USAA Savings Bank?
USAA Savings Bank reported $2.6 bn at in its Call Report.
Is USAA Savings Bank the same as its holding company?
No. This page covers USAA Savings Bank, FDIC certificate 34351; UNITED SERVICES AUTOMOBILE ASSN (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is USAA Savings Bank profitable?
USAA Savings Bank reported net income of $72.6 mn for the year to ; annualized return on equity: 37.89%. So yes: USAA Savings Bank made a profit over these months.
When is data for USAA Savings Bank next updated?
USAA Savings Bank no longer files Call Reports; its data ends at .
Where can I check the figures for USAA Savings Bank?
In the FDIC BankFind Suite record for certificate 34351, and in the Call Reports of USAA Savings Bank (RSSD ID 2502656) at the FFIEC Central Data Repository.