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 ...

Group 1 - VersaBank will participate in the ThinkEquity Conference on October 30, 2024, in New York City, with a presentation by President and CEO David Taylor at 4:30 p.m. ET [1] - A live webcast of the presentation will be available on the Bank's website [1] Group 2 - VersaBank operates a branchless, digital, business-to-business banking model that leverages proprietary technology to serve underserved segments of the banking industry [2] - The Bank has launched a Receivable Purchase Program (RPP) funding solution for point-of-sale finance companies, targeting the US market, which has been successful in Canada for nearly 15 years [2] - VersaBank owns DRT Cyber Inc., a leader in cyber security services in North America, addressing the increasing volume of cyber threats faced by financial institutions and government entities [2]

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 ...

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, ...

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].

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 ...

Group 1 - VersaBank will present at two virtual investor conferences on August 20, 2024, including The Investor Summit Summer 2024 Virtual Forum and The MoneyShow Powerful Investing & Trading Strategies Expo [1][2] - David Taylor, President and CEO of VersaBank, will discuss the bank's transformational opportunity through entry into the US market during a "fireside chat" at the MoneyShow Expo [2] - VersaBank is a Canadian Schedule I chartered bank that operates as a fully digital financial institution, focusing on underserved segments of the Canadian banking market [3] Group 2 - The bank has received regulatory approvals to acquire a US OCC-licensed bank, enabling it to launch its Receivables Purchase Program in the US market [3] - VersaBank primarily conducts its operations electronically, providing innovative deposit and lending solutions for financial intermediaries [3] - The bank has established a subsidiary, DRT Cyber Inc., to address cybersecurity threats and develop solutions for financial institutions and corporations [3]

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 ...

– 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 ...