SoFi Technologies has transformed into a licensed bank following its acquisition of Golden Pacific Bancorp in February 2022. The company’s deposit base has grown from $1.2 billion to approximately $45.5 billion in just over four years, representing a 33-fold increase. Deposits now account for 94% of SoFi’s total liabilities, which stood at $42.9 billion as of Q1 2026. Net interest margin reached 5.94% in Q1 2026, with net interest income growing from $252 million in 2021 to over $2.2 billion in 2025. This deposit-funded model provides SoFi with a competitive advantage by offering stable, low-cost funding independent of credit market conditions.
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