Summary of Key Points Core Viewpoint - VersaBank has successfully completed a public offering of common shares, raising approximately US$75 million, which will be used for general banking purposes and will qualify as Common Equity Tier 1 capital for the Bank [1][2]. Group 1: Offering Details - The offering price was set at US$13.25 per share, with a total of 5,660,378 shares sold, resulting in gross proceeds of US$75,000,009 (approximately CAD$107,287,513) [1]. - An over-allotment option has been granted to underwriters to purchase an additional 15% of the common shares sold, exercisable until January 15, 2025 [2]. Group 2: Underwriters and Regulatory Filings - Raymond James & Associates, Inc. acted as the sole bookrunning manager, with Keefe, Bruyette & Woods, A Stifel Company, and Roth Canada, Inc. serving as co-managers for the offering [3]. - The offering was conducted under a prospectus supplement dated December 16, 2024, which is part of the Bank's short form base shelf prospectus filed with Canadian securities regulatory authorities and the U.S. SEC [4]. Group 3: Company Overview - VersaBank operates a branchless, digital, business-to-business banking model, focusing on underserved segments of the banking industry [7]. - The Bank has launched a Receivable Purchase Program (RPP) funding solution aimed at the U.S. market, building on its successful experience in Canada [7]. - VersaBank also owns DRT Cyber Inc., a leader in providing cybersecurity services to financial institutions and government entities [7].

Summary of Key Points Core Viewpoint - VersaBank has announced a public offering of 5,660,378 common shares at a price of US$13.25 per share, expecting gross proceeds of approximately US$75 million before underwriting discounts and offering costs [1][2]. Group 1: Offering Details - The offering includes an over-allotment option for underwriters to purchase an additional 15% of the common shares within 30 days from the final prospectus supplement [2]. - The net proceeds from the offering will be utilized for general banking purposes and will qualify as Common Equity Tier 1 capital for the bank [3]. - The closing of the offering is anticipated around December 18, 2024, subject to customary closing conditions and exchange approvals [4]. Group 2: Regulatory Filings - VersaBank has filed a preliminary prospectus supplement and will file a final prospectus supplement with securities regulatory authorities in Canada and the U.S. [6]. - The prospectus documents will be accessible on SEDAR+ and EDGAR, providing detailed information about the offering [6]. Group 3: Company Overview - VersaBank operates as a branchless, digital bank focused on underserved segments of the banking industry, leveraging proprietary technology for efficiency and return on equity [7]. - The bank has successfully launched a Receivable Purchase Program targeting the U.S. market, building on its experience in Canada [7]. - VersaBank also owns DRT Cyber Inc., a leader in cybersecurity services, addressing the growing threats faced by financial institutions and corporations [8].

The Base Shelf Prospectus and the Preliminary Supplement are accessible on SEDAR+ and on EDGAR LONDON, ON, Dec. 16, 2024 /PRNewswire/ - VersaBank (Nasdaq: VBNK) (TSX: VBNK) (the "Bank") today announced that it has filed a preliminary prospectus supplement (the "Preliminary Supplement") to its short form base shelf prospectus dated November 22, 2024 (the "Base Shelf Prospectus"). The Preliminary Supplement was filed in connection with a public offering of the Bank's common shares (the "Offering"). The Prelim ...

For Immediate Release: December 9, 2024 Attention: Business Editors VERSABANK FOURTH QUARTER AND FISCAL 2024 RESULTS CONTINUE TO DEMONSTRATE STRENGTH OF BUSINESS MODEL AS BANK LAUNCHES PROVEN RPP SOLUTION IN US MARKET VersaBank's 2024 annual audited Consolidated Financial Statements and Management's Discussion and Analysis ("MD&A") will be available today online at www.versabank.com/investor-relations, SEDAR+ at www.sedarplus.ca and EDGAR at www.sec.gov/edgar.shtml. Supplementary Financial Information will ...

LONDON, ON, Dec. 2, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) will report its fourth quarter and fiscal 2024 year-end financial results and host a conference call to discuss those results on Monday, December 9, 2024. The conference call/webcast is scheduled for 9:00 a.m. ET and is expected to last approximately 60 minutes. The conference call/webcast will include a presentation by David Taylor, President & CEO and John Asma, CFO, followed by a question and answer p ...

LONDON, ON, Nov. 14, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK; NASDAQ: VBNK) today announced management will participate in the 13th Annual ROTH Technology Conference to be held November 19-20, 2024 in New York City.  VersaBank management will be participating in one-on-one meetings throughout the conference.  The conference is exclusively for ROTH's institutional clients and is by invitation only. Prospective attendees are encouraged to contact their ROTH sales representative or ...

LONDON, ON, Nov. 7, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced management will participate in the KBW Fintech Conference to be held November 13-14, 2024 in New York City.  As part of the conference, David Taylor, President and CEO will participate in a panel discussing The Future of Fintech-Bank Partnerships on Wednesday, November 13, 2024 at 1:25 p.m. ET.  This event will be available only to those attending in person.  VersaBank management will be ...

LONDON, ON, Oct. 24, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced management will participate in the ThinkEquity Conference to be held October 30, 2024 in New York City.  David Taylor, President and CEO, will present at 4:30 p.m. ET. A live webcast of the presentation will be made available on the Bank's website at https://www.versabank.com/investor-relations/events-presentations/. About VersaBankVersaBank is a North American bank (federally chartered ...

Roth MKM analyst Craig Irwin initiated coverage on VersaBank VBNK with a price target of $18. Following the August 2024 acquisition of Stearns Bank Holdings, VersaBank is now federally chartered in both the U.S. and Canada. According to the analyst, management plans to implement VersaBank's proven, risk-mitigated point-of-sale lending model in the U.S. to enhance leverage and deliver long-term value in this larger, more profitable market. Irwin says VersaBank's technology infrastructure enables it to digita ...

LONDON, ON, Sept. 25, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) ("VersaBank" or the "Bank") today announced its intention to redeem all outstanding Non-cumulative 5-Year Rate Reset Preferred Shares, Series 1 (Non-Viability Contingent Capital (NVCC)) ("Series 1 Preferred Shares") of the Bank on October 31, 2024 at a price equal to $10.00 per share together with all declared and unpaid dividends to the Redemption Date. The redemption has been approved by the Office of the Superintendent of Financial Instituti ...