VersaBank Stock Hits 52-Week High on Acquisition of Stearns Bank

Shares of VersaBank (VBNK) touched a 52-week high of $14.22 on Tuesday before closing the session a tad lower at$13.40. The surge was driven by the optimism surrounding the news of its acquisition of Stearns Bank Holdingford N.A. ("SBH"). On Aug. 30, 2024, VersaBank completed the acquisition of SBH, a $62 million asset-sized bank, from Stearns Financial Services, Inc. ("Stearns Financial"). This completion of the acquisition marks the official launch of VersaBank's Receivable Purchase Program (RPP) in the ...