/C O R R E C T I O N -- VersaBank/

Core Points - VersaBank has donated $50,000 to The Salvation Army's Harvest Hope campaign to combat food insecurity in Canada, particularly in London, Ontario, where the bank is headquartered [1][2] - The donation is part of a broader effort to support vulnerable communities amid a sluggish economy, as highlighted by the increased demand for food bank services [1][2] - Food Banks Canada reported that food bank usage has doubled since March 2019, with a 5.2% increase in usage this year compared to 2024 [1] - The Salvation Army distributed over 7 million pounds of food and served 2.6 million shelter meals in Ontario in 2024 [1] Company Overview - VersaBank operates as a federally chartered bank in both Canada and the US, utilizing a branchless, digital business-to-business model [7] - The bank focuses on underserved segments of the banking industry, leveraging proprietary technology to enhance efficiency and return on common equity [7] - VersaBank launched its Receivable Purchase Program in August 2024, targeting the underserved US market for point-of-sale finance companies [7] - The bank also owns DRT Cyber Inc., a leader in cybersecurity services, and Digital Meteor Inc., which focuses on next-generation digital assets [7] Industry Context - Food insecurity is identified as an urgent crisis in Ontario and Canada, necessitating support from organizations like VersaBank [2] - The Salvation Army plays a crucial role in providing various social services, including food banks, shelter, and rehabilitation programs across over 400 communities in Canada [5] - The final months of the year are critical for fundraising efforts for organizations like The Salvation Army, emphasizing the need for corporate support [4]