VersaBank(VBNK)

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VERSABANK ANNOUNCES REDEMPTION OF NON-CUMULATIVE SERIES 1 PREFERRED SHARES (NVCC)
Prnewswire· 2024-09-25 11:00
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 ...
VersaBank(VBNK) - 2024 Q3 - Quarterly Report
2024-09-05 11:15
Exhibit 99.1 Interim Consolidated Financial Statements July 31, 2024 (Unaudited) 1 VERSABANK Consolidated Balance Sheets (Unaudited) | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------------------------|-------|--------------------|-------|-----------------------|-------|------------------| | (thousands of Canadian dollars) \nAs at | | July 31 \n2024 | | October 31 \n2023 | | July 31 \n2023 | | | | | | | | | | Assets | | | | | | | | | | | | | | | | Cash | $ | 247, ...
VersaBank Stock Hits 52-Week High on Acquisition of Stearns Bank
ZACKS· 2024-09-04 16:10
Core Insights - VersaBank's shares reached a 52-week high of $14.22, closing at $13.40, driven by the acquisition of Stearns Bank Holdingford N.A. [1] - The acquisition of Stearns Bank, valued at $62 million in assets, was completed on August 30, 2024, for nearly $14 million in cash [1][3]. Acquisition Details - VersaBank acquired 100% of the outstanding shares of Stearns Bank, taking over approximately $54.1 million in deposits and liabilities, and $61.1 million in assets [3]. - Following the acquisition, Stearns Bank was rebranded as VersaBank USA N.A. [4]. Receivable Purchase Program (RPP) - The acquisition marks the launch of VersaBank's Receivable Purchase Program (RPP) in the U.S., which has seen significant growth in Canada [2]. - RPP aims to provide secure funding solutions for point-of-sale finance companies, targeting a large underserved segment of the multi-trillion-dollar U.S. market [2][5]. Strategic Benefits - The acquisition is expected to enhance VersaBank's earnings per share in the first year and broaden its loan portfolio [6]. - The RPP will allow VersaBank to operate efficiently in the consumer and small business financing markets, leveraging its branchless, digital model [6]. Market Performance - VersaBank's shares have increased by 38% over the past three months, contrasting with an 8.1% decline in the industry [9].
VERSABANK TO HOST THIRD QUARTER FISCAL 2024 FINANCIAL RESULTS CONFERENCE CALL/WEBCAST THURSDAY, SEPTEMBER 5, 2024 at 9:00 A.M. ET
Prnewswire· 2024-08-21 11:00
Bank to Report Third Quarter Fiscal 2024 Results Thursday, September 5, 2024 at 7:00 a.m. ET LONDON, ON, Aug. 21, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) will report its third quarter 2024 financial results and host a conference call to discuss those results on Thursday, September 5, 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 Tay ...
VERSABANK TO PRESENT AT TWO VIRTUAL INVESTOR CONFERENCES ON AUGUST 20, 2024
Prnewswire· 2024-08-16 11:00
LONDON, ON, Aug. 16, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced David Taylor, President and Chief Executive Officer, will present at the following virtual investor conferences on Tuesday, August 20, 2024: The Investor Summit Summer 2024 Virtual Forum at 10:30 a.m. ET. A live webcast of Mr. Taylor's presentation will be available to the public on the Bank's website at https://www.versabank.com/investorrelations/events-presentations/. VersaBank managem ...
VERSABANK TO PARTICIPATE IN 25th ANNUAL KBW COMMUNITY BANK INVESTOR CONFERENCE JULY 30-31, 2024 IN NEW YORK CITY
Prnewswire· 2024-07-25 14:30
LONDON, ON, July 25, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced management will participate in the 25th Annual KBW Community Bank Investor Conference to be held July 30-31, 2024 in New York City. VersaBank management will participate in one-on-one meetings throughout the conference. Those interested in meeting with VersaBank should contact their KBW representative or VersaBank investor relations through Lawrence Chamberlain at [email protected]. Vers ...
VERSABANK RECEIVES CANADIAN REGULATORY APPROVAL FOR U.S. BANK ACQUISITON: TRANSACTION TARGETED TO CLOSE AUGUST 30, 2024
Prnewswire· 2024-06-25 11:00
– 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 ...
VERSABANK ANNOUNCES APPOINTMENT OF LONG STANDING CANADIAN FEDERAL OFFICIAL GLENN CAMPBELL AS ADVISOR TO BOARD
Prnewswire· 2024-06-17 11:00
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 RECEIVES FINAL U.S. APPROVAL FOR U.S. BANK ACQUISITON
Prnewswire· 2024-06-14 11:00
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 ...
VersaBank(VBNK) - 2024 Q2 - Earnings Call Transcript
2024-06-05 16:30
Start Time: 09:00 January 1, 0000 9:35 AM ET VersaBank (NASDAQ:VBNK) Q2 2024 Earnings Conference Call June 05, 2024, 09:00 AM ET Company Participants David Taylor - President and CEO John Asma - CFO Conference Call Participants David Feaster - Raymond James Mike Rizvanovic - KBW Research Operator Good morning, ladies and gentlemen, and welcome to VersaBank's Second Quarter Fiscal 2024 Financial Results Conference Call. This morning, VersaBank issued a news release reporting its financial results for the sec ...