Core Viewpoint - Canadian Imperial Bank reported quarterly earnings of $1.57 per share, exceeding the Zacks Consensus Estimate of $1.43 per share, and showing an increase from $1.41 per share a year ago, representing an earnings surprise of +9.79% [1][2] Financial Performance - The bank's revenues for the quarter ended July 2025 were $5.28 billion, surpassing the Zacks Consensus Estimate by 3.09%, and up from $4.82 billion year-over-year [2] - Over the last four quarters, the company has consistently surpassed consensus EPS estimates four times and topped revenue estimates three times [2] Stock Performance - Canadian Imperial Bank shares have increased approximately 19.1% since the beginning of the year, outperforming the S&P 500's gain of 10.2% [3] - The current consensus EPS estimate for the upcoming quarter is $1.42 on revenues of $5.16 billion, and for the current fiscal year, it is $5.92 on revenues of $20.75 billion [7] Industry Outlook - The Zacks Industry Rank for Banks - Foreign is currently in the top 28% of over 250 Zacks industries, indicating a favorable outlook for the sector [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5][6]

Group 1 - Bank of Nova Scotia reported quarterly earnings of $1.37 per share, exceeding the Zacks Consensus Estimate of $1.28 per share, and up from $1.19 per share a year ago, representing an earnings surprise of +7.03% [1] - The bank's revenues for the quarter ended July 2025 were $6.9 billion, surpassing the Zacks Consensus Estimate by 0.59%, and an increase from $6.11 billion year-over-year [2] - The stock has gained approximately 6.7% since the beginning of the year, while the S&P 500 has increased by 9.5% [3] Group 2 - The earnings outlook for Bank of Nova Scotia is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the next quarter is $1.31 on revenues of $6.89 billion, and for the current fiscal year, it is $4.93 on revenues of $27.05 billion [7] - The Zacks Industry Rank indicates that the Banks - Foreign sector is in the top 25% of over 250 Zacks industries, suggesting a favorable outlook for stocks in this category [8]

Core Viewpoint - VersaBank has launched a pilot program for its proprietary Digital Deposit Receipts (DDRs) in the United States, positioning them as a secure and compliant alternative to traditional stablecoins, with the ability to pay interest and FDIC insurance [1][2][3] Group 1: Digital Deposit Receipts (DDRs) - DDRs are bank-issued tokenized deposits that represent actual cash deposits on a 1:1 basis, offering enhanced security, stability, and regulatory compliance compared to stablecoins [1][4] - The USDVB Pilot Program aims to demonstrate the functionality and operational integrity of DDRs in a US dollar environment while ensuring compliance with US banking regulations [2][3] - DDRs were developed in collaboration with law enforcement to serve as a trusted alternative for mainstream financial applications, addressing the growing trend of digital asset management [4] Group 2: Pilot Program Details - The USDVB Pilot Program will involve phased testing with thousands of transactions, starting with controlled internal testing and expanding to limited external deployment [3] - USDVBs will be issued at a rate of 1 USDVB for each US$1.00 on deposit, managed through VersaBank's proprietary digital vault platform [3][6] - The pilot program is expected to be completed by the end of 2025, with plans for commercial launch shortly thereafter [3] Group 3: Company Overview - VersaBank operates as a federally chartered bank in both Canada and the US, focusing on a digital, business-to-business banking model [7] - The bank has successfully launched a Receivable Purchase Program in the US, expanding its services to underserved markets [7] - VersaBank also owns DRT Cyber Inc., a leader in cybersecurity services, enhancing its capabilities in managing digital assets securely [7]

Company Overview - VersaBank is a North American bank with a unique branchless, digital, business-to-business model that leverages proprietary technology to serve underserved segments of the banking industry in a risk-mitigated manner [5] - The bank has a significant operating leverage due to its electronic deposit acquisition and funding through financial intermediary partners, which enhances efficiency and return on common equity [5] - VersaBank launched its Receivable Purchase Program in August 2024, targeting the underserved multi-trillion-dollar US market, building on its successful Canadian operations [5] - The bank owns DRT Cyber Inc., a leader in cybersecurity services, addressing the increasing cyber threats faced by financial institutions and corporations [5] - Through its subsidiary Digital Meteor Inc., VersaBank holds proprietary technology for next-generation digital assets, including Digital Deposit Receipts (DDRs) [5] Upcoming Financial Results - VersaBank will report its third quarter 2025 financial results on September 4, 2025, at 7:00 a.m. ET, followed by a conference call at 9:00 a.m. ET [1] - The conference call will feature presentations by the President and CFO, along with a question and answer session [1] Accessing Information - Investors can join the conference call via telephone or through a live webcast available on the bank's website [2][3] - An archived version of the webcast will be accessible for 90 days post-event, and a replay of the teleconference will be available until October 4, 2025 [4]

Core Insights - VersaBank has expanded its Receivable Purchase Program (RPP) in the US and Canada by launching a securitized financing solution aimed at point-of-sale and other financing companies, which is expected to enhance asset and earnings growth [1][2] - The new RPP Securitized Financing strategy will involve investment in senior-level tranches of securitized credit assets and the establishment of a platform for securitization of assets from financing partners, addressing the demand for lower-cost financing in the current interest rate environment [1][2] - The addition of securitized financing is anticipated to strengthen VersaBank's core RPP offering and facilitate quicker relationship building with target markets, providing a comprehensive financing solution [2] Company Strategy - The bank aims to leverage its OCC-licensed status in the US to capture additional market opportunities and enhance its asset and earnings growth through securitized financing [2] - The RPP Securitized Financing offering utilizes the same proprietary Asset Management System (AMS) technology as the core RPP solution, ensuring efficient cash flow management through a cash holdback from financing partners [2] Leadership and Expertise - Timothy Comiskey has been appointed as Managing Director for Origination, Structuring & Securitization to support the growth of the new RPP securitization financing option in the US, bringing over three decades of experience in financial products and risk management [3][4] - Comiskey's previous roles include significant positions at Nasdaq and GCSA Capital Partners, where he developed and managed financial products and risk transfer strategies [4][5] Market Position - VersaBank operates a branchless, digital, business-to-business banking model, focusing on underserved segments of the banking industry, which allows for significant operating leverage and efficiency [6] - The bank's Receivable Purchase Program has been successful in Canada for nearly 15 years and is now being introduced to the US market, which is valued in the multi-trillion-dollar range [6]

Group 1: Earnings Performance - Fidus Investment reported quarterly earnings of $0.57 per share, exceeding the Zacks Consensus Estimate of $0.53 per share, with an earnings surprise of +7.55% [1] - The company posted revenues of $39.97 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 5.35%, compared to year-ago revenues of $35.66 million [2] - Over the last four quarters, Fidus Investment has consistently surpassed consensus EPS estimates [2] Group 2: Stock Performance and Outlook - Fidus Investment shares have declined approximately 1.3% since the beginning of the year, while the S&P 500 has gained 7.9% [3] - The company's earnings outlook will be crucial for future stock performance, with current consensus EPS estimates at $0.53 for the coming quarter and $2.10 for the current fiscal year [4][7] - The estimate revisions trend for Fidus Investment was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Group 3: Industry Context - The Financial - SBIC & Commercial Industry, to which Fidus Investment belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, which may impact stock performance [8]

Group 1 - VersaBank will participate in the Sidoti Virtual Investor Conference on June 11-12, 2025, with a presentation by President David Taylor scheduled for June 12 at 2:30 p.m. ET [1] - The Bank will also hold one-on-one meetings with interested institutional investors during the conference [2] Group 2 - VersaBank operates as a federally chartered bank in both Canada and the US, utilizing a branchless, digital, business-to-business model that leverages proprietary technology to serve underserved banking segments [3] - The Bank launched its Receivable Purchase Program in August 2024, targeting the US market for point-of-sale finance companies, building on its success in Canada [3] - VersaBank owns DRT Cyber Inc., a leader in cybersecurity services, and Digital Meteor Inc., which holds proprietary technology for digital assets, including Digital Deposit Receipts (DDRs) [3]

Core Insights - VersaBank is set to present its innovative Digital Deposit Receipts (DDRs) at the Florida Bankers Association's Annual Meeting, highlighting their potential to enable banks to issue stablecoins backed by actual deposits [1][2] - The US Administration's positive stance on digital assets is prompting both large and community banks to explore stablecoin solutions for modernizing payment systems [2] - VersaBank operates a branchless, digital business-to-business model, focusing on underserved segments of the banking industry while maintaining a risk-mitigated approach [3] Company Overview - VersaBank is federally chartered in both Canada and the US, utilizing advanced technology to efficiently serve the banking sector [3] - The bank has launched a Receivable Purchase Program funding solution aimed at the US market, which has been successful in Canada for nearly 15 years [3] - VersaBank owns DRT Cyber Inc., a leader in cybersecurity services, and Digital Meteor Inc., which focuses on developing next-generation digital assets [3] Market Position - The Digital Deposit Receipt solution is designed to integrate seamlessly with existing banking software, addressing regulatory concerns and ensuring high security standards [2] - The bank's unique model allows it to achieve significant operating leverage, enhancing efficiency and return on common equity [3] - VersaBank's shares are traded on both the Toronto Stock Exchange and NASDAQ under the symbol VBNK [4]

Exhibit 99.1 Interim Consolidated Financial Statements April 30, 2025 (Unaudited) 1 VERSABANK Consolidated Balance Sheets (Unaudited) (thousands of Canadian dollars) | | | April 30 | | October 31 | | April 30 | | --- | --- | --- | --- | --- | --- | --- | | As at | | 2025 | | 2024 | | 2024 | | Assets | | | | | | | | Cash | $ | 340,186 | $ | 225,254 | $ | 198,808 | | Securities (note 4) | | 104,807 | | 299,300 | | 103,769 | | Credit assets, net of allowance for credit losses (note 5) | | 4,523,812 | | 4,236,1 ...

Core Viewpoint - VersaBank reported strong financial results for Q2 2025, with record total revenue and significant growth in credit assets, driven by its Receivable Purchase Program and digital banking operations [2][12][19]. Financial Performance - Total revenue for Q2 2025 reached CAD 30.1 million, a 6% increase year-over-year and an 8% increase sequentially [12][18]. - Net income for Q2 2025 was CAD 8.5 million, compared to CAD 8.1 million in Q1 2025 and CAD 11.8 million in Q2 2024 [12][18]. - Earnings per share for Q2 2025 were CAD 0.26, down from CAD 0.28 in Q1 2025 and CAD 0.45 in Q2 2024 [12][18]. Asset Growth - Total assets increased by 15% year-over-year and 2% sequentially to a record CAD 5.0 billion, primarily due to growth in credit portfolios [12][20]. - Total credit assets reached CAD 4.52 billion, marking a 13% year-over-year increase and a 4% sequential increase [11][12]. Digital Banking Operations - Digital Banking operations generated total revenue of CAD 28.1 million, a 6% increase year-over-year and a 9% increase sequentially [15]. - The net interest margin on credit assets for Digital Banking operations increased to 2.59%, reflecting a 3% year-over-year increase and a 10% sequential increase [15][12]. Strategic Initiatives - The company is pursuing a structural realignment to align with a standard US bank framework, which is expected to enhance shareholder value and reduce costs [9][12]. - The Receivable Purchase Program in the US is on track to reach at least USD 290 million by fiscal year-end [8][19]. Market Position - VersaBank operates a branchless, digital business-to-business model, leveraging technology to address underserved segments in the banking industry [22]. - The bank's cybersecurity subsidiary, DRT Cyber Inc., positions it as a leader in addressing the growing volume of cyber threats [22].