Messrs. Matrundola and Clarke will move from VersaBank Canada to their new roles at VersaBank USA. The appointments are subject to approval by the VersaBank USA board upon completion of the U.S. bank acquisition, which has been approved by both U.S. and Canadian regulators, and is scheduled for closing on August 30, 2024. Tel Matrundola joined VersaBank in 2003 as Vice President of Public & Corporate Affairs. In May 2016, he was appointed Chair of PWC Capital, the former parent company of VersaBank, later s ...

– Acquisition Will Enable VersaBank to Broadly Launch its Unique and Highly Successful Receivable Purchase Program (RPP) Financing Solution in the United States – Stearns Holdingford is an independent OCC-chartered national bank with US$79 million in assets located in Holdingford, Minnesota that is wholly owned by Stearns Financial Services, Inc. ("Stearns Financial"). Stearns Financial, a multi-bank holding company owning two additional and separate national bank charters, Stearns Bank Upsala National Asso ...

LONDON, ON, June 17, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced it has appointed Glenn Campbell as Advisor to its Board of Directors. Mr. Campbell will be available to advise VersaBank's Board on a number of matters to ensure the Bank is well positioned for its proposed entry into the United States. Mr. Campbell has more than 30 years of experience with the Canad ...

VersaBank is a Canadian Schedule I chartered (federally licensed) bank with a difference. VersaBank became the world's first fully digital financial institution when it adopted its highly efficient business-to-business model in 1993 using its proprietary state-of-the-art financial technology to profitably address underserved segments of the Canadian banking market in the pursuit of superior net interest margins while mitigating risk. VersaBank obtains all of its deposits and provides the majority of its loa ...

– Acquisition Would Enable VersaBank to Broadly Launch its Unique and Highly Successful Receivable Purchase Program Financing Solution in the United States –LONDON, ON, June 7, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced it has received formal approval of its proposed acquisition of Minnesota-based Stearns Bank Holdingford (the "Stearns Holdingford Acquisition"), ...

Good morning, David. Operator David Taylor Well, I hate to use the word kind of great with respect to insolvencies because obviously that means a lot of core folks are 60% increase in small business insolvencies and 20% odd increase in consumers not good for this -- for the economy, but it's very good for our deposit growth. That's -- I was saying earlier it's a leading indicator. The more accounts we open, the more insolvency there are the greater that portfolios of deposits growth, it's going to record le ...

VersaBank (VBNK) came out with quarterly earnings of $0.33 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.28 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this company would post earnings of $0.31 per share when it actually produced earnings of $0.36, delivering a surprise of 16.13%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. VersaBank, which belongs to the Za ...

VERSABANK Consolidated Balance Sheets (Unaudited) (thousands of Canadian dollars) | | | April 30 | | October 31 | | April 30 | | --- | --- | --- | --- | --- | --- | --- | | As at | | 2024 | | 2023 | | 2023 | | Assets | | | | | | | | Cash | $ | 198,808 | $ | 132,242 | $ | 223,661 | | Securities (note 4) | | 103,769 | | 167,940 | | 39,652 | | Loans, net of allowance for credit losses (note 5) | | 4,018,458 | | 3,850,404 | | 3,419,455 | | Other assets (note 6) | | 67,285 | | 51,024 | | 46,625 | | | $ | 4,388,3 ...

LONDON, ON, June 5, 2024 /PRNewswire/ - VersaBank (the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced that cash dividends in the amount of CAD $0.025 per Common Share of the Bank and CAD $0.1693 per Series 1 Preferred Share of the Bank, have been declared for the quarter ending July 31, 2024, payable as of July 31, 2024, to shareholders of record at the close of business on July 5, 2024. The dividends to which this notice relates are eligible dividends for tax purposes. About VersaBank VersaBank is a Ca ...

LONDON, ON, June 3, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced management will participate in the MicroCap Rodeo Conference to be held Thursday, June 6, 2024 in New York City. David Taylor, President and CEO, will present at 3:00 p.m. ET. A live webcast of the presentation will be available on the Bank's website at https://www.versabank.com/investor-relations/events-presentations/. Versabank will participate in one-on-one meetings on Thursday, June 6 ...