# Erebor Call Reports Quarterly balance-sheet ledger for [[Erebor]] (Erebor Bank, N.A.; FDIC cert. 59378; RSSD ID 6053129). Every U.S. bank files a **call report** with federal regulators each quarter, due 30 days after the quarter ends. For a private bank this is the most reliable public window into the business. Press-reported figures between filings go in the second table, kept separate so they are never mistaken for filed numbers. **Ledger discipline:** only figures from a filed call report go in the first table. Data aggregators (BankRegReports, Visbanking) re-publish FFIEC data and can mislabel it. Visbanking's Q1 2026 page showed impossible values (a 140% leverage ratio, a 0% CET1 ratio) and is **not** used here. ## Filed call reports | Quarter end | Total assets | Deposits | Loans | Cash & due from banks | Equity | Tier 1 leverage ratio | Net income | Source | |---|---|---|---|---|---|---|---|---| | Mar 31, 2026 | — | — | — | — | — | — | — | Q1 figures not yet verified from a reliable source | | **Jun 30, 2026** | $4.66B | $4.06B | $77.8M | $4.17B | $597.4M | 38.81% | −$10.3M | FFIEC data via BankRegReports | | Sep 30, 2026 | due Oct 30, 2026 | | | | | | | **Pending** | ## Press-reported figures between filings | As of | Figure | Source | |---|---|---| | ~7 weeks after opening (late Mar 2026) | Deposits over $1.1B | Bloomberg; FT; Airwallex | | End of July 2026 | Deposits $4.6B | FT via CoinDesk (Aug 11) | | Early October 2026 | Deposits over $7B; 500+ customers and $3B+ added in the prior quarter | FT, relayed by Crowdfund Insider and TBPN (Oct 6) | ## The capital arithmetic The FT reported that Erebor operates under a **12% minimum leverage ratio for its first three years**, a condition of its charter. The public OCC release lists no conditions, so this rests on the FT. Two different ratios are easy to confuse: - **The regulatory leverage ratio was 38.81% on June 30.** It divides Tier 1 capital by the bank's *average* assets over the quarter. Because deposits roughly quadrupled during the quarter, the average was far below the quarter-end figure, which flatters the ratio. - **Equity against quarter-end assets was 12.8%** ($597.4M ÷ $4.66B), barely above the 12% floor. Airwallex's August profile made the same comparison. - **What happens as deposits pass $7B (inference, not a filed figure):** if equity stayed near $600M and the bank kept losing money, equity would be **under 9%** of a balance sheet of roughly $7.6B. Once average assets catch up with that growth, the 12% floor would be breached unless new capital arrives. **Bottom line:** the ~$1.5B raise is not optional growth capital. It is what lets the bank keep taking deposits at this pace without breaching its charter condition. That is why the round's close and the Q3 call report are the two beats to watch. If Q3 shows equity well above $600M, the raise (or part of it) has closed. If not, watch for deposit caps, slower onboarding or a regulatory response. ## Loans against deposits Loans were **1.9%** of deposits on June 30 ($77.8M ÷ $4.06B), and about **90%** of assets sat as cash at other banks. Erebor is so far a deposit vault, not a lender. The [[Valar Atomics]] facility came after this filing. See [[Erebor Loan Book]]. ## See Also - [[Erebor Dossier]] · [[Erebor Loan Book]] · [[Erebor Investors]] · [[Erebor Watch Log]] - [[OCC]] · [[FDIC]] · [[Silicon Valley Bank]]