Bank of Nova Scotia (BNS) came out with quarterly earnings of $1.06 per share, missing the Zacks Consensus Estimate of $1.14 per share. This compares to earnings of $1.16 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.02%. A quarter ago, it was expected that this bank would post earnings of $1.17 per share when it actually produced earnings of $1.22, delivering a surprise of 4.27%.Over the last four quarters, the company h ...

Group 1 - VersaBank will report its second quarter fiscal 2025 financial results on June 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 David Taylor, President & CEO, and John Asma, CFO, with a question and answer session to follow [1] - The financial results will be released via news release at approximately 7:00 a.m. ET on the same day [1] Group 2 - For those wishing to join the conference call, registration can be done in advance for an automated call back, or participants can dial in directly [2] - A live webcast of the presentation will be available on the Bank's website and through a specific link [3] - An archived version of the webcast will be accessible for 90 days post-event, and a replay of the teleconference will be available until July 4, 2025 [4] Group 3 - VersaBank operates as a federally chartered bank in both Canada and the US, utilizing a branchless, digital business-to-business model [5] - The Bank has launched a Receivable Purchase Program funding solution aimed at underserved markets in the US, building on its success in Canada [5] - VersaBank also owns DRT Cyber Inc., a leader in cybersecurity services, and has proprietary technology for digital assets, including Digital Deposit Receipts [5]

Core Viewpoint - Ellington Credit (EARN) reported quarterly earnings of $0.26 per share, missing the Zacks Consensus Estimate of $0.27 per share, and showing a decline from $0.27 per share a year ago [1][2] Financial Performance - The earnings surprise for the quarter was -3.70%, contrasting with a previous quarter where the company exceeded expectations by 3.85% [2] - Revenues for the quarter were $9.25 million, missing the Zacks Consensus Estimate by 9.34%, compared to revenues of $0.28 million a year ago [3] - The company has not surpassed consensus revenue estimates in the last four quarters [3] Stock Performance - Ellington Credit shares have declined approximately 15.1% since the beginning of the year, while the S&P 500 has gained 1.4% [4] - The stock's immediate price movement will largely depend on management's commentary during the earnings call [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.20 on revenues of $8.1 million, and for the current fiscal year, it is $0.96 on revenues of $36.81 million [8] - The estimate revisions trend for Ellington Credit is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [7] Industry Context - The REIT and Equity Trust industry, to which Ellington Credit belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting potential challenges ahead [9]

American Healthcare REIT (AHR) came out with quarterly funds from operations (FFO) of $0.38 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to FFO of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 2.70%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.40 per share when it actually produced FFO of $0.40, delivering no surprise.Over the last four quar ...

Group 1 - VersaBank will hold its annual meeting of shareholders on April 24, 2025, at the VersaBank Innovation Centre of Excellence in London, Ontario, and it will be livestreamed from the Nasdaq MarketSite in New York City [1] - David Taylor, Founder, President, and CEO of VersaBank, along with Tel Matrundola, President of VersaBank USA, will ring the Nasdaq Closing Bell on April 25, 2025, at 4:00 p.m. ET, with a livestream available [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 segments of the banking industry [3] - The bank launched its Receivable Purchase Program funding solution in August 2024, targeting the underserved multi-trillion-dollar US market, building on its success in Canada [3] - VersaBank owns DRT Cyber Inc., a leader in cybersecurity services, and its subsidiary Digital Meteor Inc. holds proprietary technology for next-generation digital assets, including Digital Deposit Receipts (DDRs) [3] Group 3 - VersaBank's common shares are traded on the Toronto Stock Exchange and NASDAQ under the symbol VBNK [4]

Group 1: US Receivable Purchase Program (RPP) - VersaBank has entered into an agreement with its second US RPP partner, aiming to leverage its innovative RPP to fund loan and lease originations [1] - The US RPP portfolio has surpassed US$70 million (approximately CAD$100 million) in assets within 75 days of adding the first partner, with a target of US$290 million in fiscal 2025 [2][3] - The company expects to add more RPP partners, driven by favorable market conditions as alternative funding costs rise [3] Group 2: Financial Performance and Net Interest Margin - VersaBank's net interest margin (NIM) has expanded significantly in the first two months of the second quarter of fiscal 2025, influenced by factors such as the normalization of the yield curve and the replacement of higher interest rate term deposits [4] - The addition of higher margin US RPP assets is also contributing positively to the NIM [4] Group 3: CMHC-Insured Loans - The bank is on track to reach its target of $1 billion in commitments for Canada Mortgage and Housing Corporation (CMHC)-insured loans by the end of fiscal 2025, with commitments exceeding $730 million as of April 15, 2025 [6] - CMHC-insured loans are zero risk-weighted, requiring no risk-weighted capital, thus generating an attractive spread that contributes favorably to the credit asset net interest margin [6] Group 4: Expansion of Deposit Broker Network - VersaBank has expanded its deposit broker network by adding BMO Nesbitt Burns Inc., which is expected to further enhance the bank's NIM in fiscal 2025 [5] Group 5: Overview of VersaBank - VersaBank operates a branchless, digital, business-to-business model, utilizing proprietary technology to address underserved segments of the banking industry [9] - The bank launched its Receivable Purchase Program in the US market, which has been successful in Canada for nearly 15 years [9]

Financial Performance - Total revenue for Q4 2023 reached $29.173 million, a 9% increase from the previous quarter and a 20% increase year-over-year[3] - Net income for Q4 2023 was $12.479 million, up 25% from the previous quarter and 94% year-over-year[3] - Consolidated net income surged 94% YoY and 25% sequentially to $12.5 million, supported by operating leverage and credit loss recovery[11] - Consolidated net income for the full fiscal year rose 86% to $42.2 million, with earnings per share up 99% to $1.57[16] - Total revenue for the three months ended October 31, 2023, was $29.2 million, up from $24.3 million in the same period last year[32] - Net income for the three months ended October 31, 2023, was $12.5 million, compared to $6.4 million in the same period last year[32] Asset Growth - Total assets grew to $4.201 billion as of October 31, 2023, a 6% increase from the previous quarter and a 29% increase year-over-year[3] - Total assets grew 29% YoY and 6% sequentially to a record $4.2 billion, driven by strong loan growth[11] - VersaBank's total assets increased to $4.2 billion as of October 31, 2023, up from $3.3 billion in the previous year[32] - The company expects to surpass the $5 billion total asset milestone in fiscal 2024, driven by loan portfolio growth[15] Loan Performance - Loans increased 29% YoY and 5% sequentially to a record $3.85 billion, led by a 30% YoY growth in the Point-of-Sale Financing portfolio[11] - Net interest margin on loans decreased 34 bps YoY to 2.69%, impacted by higher cost of funds[11] - The bank's net interest margin was 2.54% for the three months ended October 31, 2023, compared to 2.81% in the same period last year[32] Profitability Metrics - Return on average common equity (ROCE) improved to 13.58% in Q4 2023, a 22% increase from the previous quarter and an 86% increase year-over-year[3] - VersaBank's return on average common equity was 13.58% for the three months ended October 31, 2023, up from 7.32% in the same period last year[32] - Efficiency ratio improved to 45% (down from 51% YoY), reflecting operational leverage in the digital banking model[11] - The bank's efficiency ratio improved to 43% for the three months ended October 31, 2023, compared to 57% in the same period last year[32] Income and Expenses - Net interest income for Q4 2023 was $26.239 million, a 5% increase from the previous quarter and a 17% increase year-over-year[5] - Non-interest income for Q4 2023 was $2.934 million, a 52% increase from the previous quarter and a 65% increase year-over-year[5] - Salaries and benefits expenses for Q4 2023 were $7.289 million, a 2% decrease from the previous quarter but a 1% increase year-over-year[5] - General and administrative expenses for Q4 2023 were $4.163 million, a 6% decrease from the previous quarter and a 25% decrease year-over-year[5] Credit and Capital - Provision for credit losses in Q4 2023 was a recovery of $184,000, compared to a provision of $171,000 in the previous quarter and $205,000 year-over-year[5] - Total capital ratio as of October 31, 2023, was 15.38%, a 2% increase from the previous quarter but a 7% decrease year-over-year[3] - VersaBank's Common Equity Tier 1 (CET1) capital ratio was 11.33% as of October 31, 2023, down from 12.00% in the previous year[32] Cybersecurity Services - Cybersecurity Services revenue increased 21% YoY to $3.4 million, with gross profit up 50% to $2.6 million due to improved operational efficiency[10] - Cybersecurity Services revenue for the full fiscal year increased 9% YoY to $10.6 million, with gross profit up 38% to $7.8 million[14] Business Segments - DRTC revenue increased 83% sequentially and 108% year-over-year to $3.7 million, with net income of $1.2 million compared to a net loss of $99,000 in the previous quarter[30] - DBG revenue increased 46% sequentially and 21% year-over-year to $3.4 million, with gross profit up 45% sequentially and 50% year-over-year to $2.6 million[31] Strategic Developments - The company is advancing the acquisition of Stearns Bank Holdingford N.A., with a regulatory decision expected in Q1 2024[11] - VersaBank announced strategic realignment of senior management roles, including the appointment of Shawn Clarke as Chief Operating Officer and John Asma as Chief Financial Officer[34]

Q3 2023 Conference Call Presentation August 30, 2023 Follow us Post Conference Call Q&A 2 Toll-free: 1 (888) 664-6392 (Canada/US) Local: (416) 764-8659 For those wishing to ask questions during the Q&A, please access today's call through the telephone dial-in: Advisory 3 The Bank occasionally makes forward-looking statements about its objectives, operations and targeted financial results. These statements may be written or verbal and may be included in such things as press releases, corporate presentations, ...

Exhibit 99.1 Interim Consolidated Financial Statements April 30, 2023 (Unaudited) 1 VERSABANK Consolidated Balance Sheets (Unaudited) (thousands of Canadian dollars) | | | April 30 | | October 31 | | April 30 | | --- | --- | --- | --- | --- | --- | --- | | As at | | 2023 | | 2022 | | 2022 | | Assets | | | | | | | | Cash | $ | 223,661 | $ | 88,581 | $ | 198,157 | | Securities (note 4) | | 39,652 | | 141,564 | | - | | Loans, net of allowance for credit losses (note 5) | | 3,419,455 | | 2,992,678 | | 2,450,276 ...

[Interim Consolidated Financial Statements](index=2&type=section&id=Interim%20Consolidated%20Financial%20Statements) This section provides VersaBank's interim consolidated financial statements, covering balance sheets, income, equity changes, and cash flows [Consolidated Balance Sheets](index=2&type=section&id=Consolidated%20Balance%20Sheets) As of January 31, 2023, VersaBank's total assets increased to **$3,531.7 million**, driven by a rise in net loans to **$3,235.1 million**, with deposits growing to **$2,925.5 million** Consolidated Balance Sheet Highlights (in thousands of Canadian dollars) | Balance Sheet Item | Jan 31, 2023 | Oct 31, 2022 | Jan 31, 2022 | | :--- | :--- | :--- | :--- | | **Total Assets** | **$3,531,690** | **$3,265,998** | **$2,415,346** | | Cash | $201,372 | $88,581 | $155,239 | | Loans, net | $3,235,083 | $2,992,678 | $2,215,638 | | **Total Liabilities** | **$3,180,513** | **$2,915,323** | **$2,078,395** | | Deposits | $2,925,452 | $2,657,540 | $1,847,003 | | **Total Shareholders' Equity** | **$351,177** | **$350,675** | **$336,951** | [Consolidated Statements of Income and Comprehensive Income](index=3&type=section&id=Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) For Q1 2023, VersaBank's net income significantly increased by **69.2%** to **$9.4 million**, driven by a **43.8%** rise in net interest income to **$24.3 million**, with EPS reaching **$0.34** Income Statement Highlights (in thousands of Canadian dollars) | Metric | Q1 2023 (3 months ended Jan 31) | Q1 2022 (3 months ended Jan 31) | YoY Change | | :--- | :--- | :--- | :--- | | Net Interest Income | $24,274 | $16,885 | +43.8% | | Total Revenue | $25,918 | $18,266 | +41.9% | | Income Before Income Taxes | $13,198 | $7,628 | +73.0% | | **Net Income** | **$9,417** | **$5,566** | **+69.2%** | | **Basic and Diluted EPS** | **$0.34** | **$0.19** | **+78.9%** | [Consolidated Statements of Changes in Shareholders' Equity](index=4&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity increased to **$351.2 million** year-over-year, primarily due to **$9.4 million** in net income, partially offset by **$7.1 million** in share repurchases and **$0.9 million** in dividends - The Bank purchased and cancelled common shares during the period, reducing share capital by **$7.1 million**[5](index=5&type=chunk) - Retained earnings increased to **$116.6 million**, reflecting the net effect of **$9.4 million** in net income, less **$1.2 million** for share cancellations and **$0.9 million** in dividends paid[5](index=5&type=chunk) [Consolidated Statements of Cash Flows](index=5&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For Q1 2023, cash provided by operations significantly shifted to **$126.2 million** from a prior year usage of **$112.9 million**, resulting in a **$116.8 million** increase in cash to **$201.4 million** Cash Flow Summary (in thousands of Canadian dollars) | Cash Flow Activity | Q1 2023 (3 months ended Jan 31) | Q1 2022 (3 months ended Jan 31) | | :--- | :--- | :--- | | **Cash provided by (used in) Operations** | **$126,203** | **($112,864)** | | Cash used in Purchase of investment | ($25) | ($32) | | Cash used in Financing | ($9,407) | ($1,103) | | **Change in Cash** | **$116,771** | **($113,999)** | | Cash, end of the period | $201,372 | $155,239 | [Notes to Interim Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20Interim%20Consolidated%20Financial%20Statements) This section provides detailed notes to the interim consolidated financial statements, elaborating on key accounts and accounting policies [Note 5. Loans, net of allowance for credit losses](index=9&type=section&id=Note%205.%20Loans%2C%20net%20of%20allowance%20for%20credit%20losses) The Bank's net loan portfolio expanded to **$3,235.1 million**, with **Point-of-Sale loans** at **$2,414.3 million**, and the total allowance for credit losses at **$2.29 million** [Summary of loans and allowance for credit losses](index=10&type=section&id=Summary%20of%20loans%20and%20allowance%20for%20credit%20losses) The gross loan portfolio reached **$3,221.7 million**, primarily comprising **Point-of-Sale loans** at **$2,414.3 million**, with a total allowance for credit losses of **$2.29 million** Loan Portfolio Breakdown (in thousands of Canadian dollars) | Loan Category | Jan 31, 2023 | Oct 31, 2022 | Jan 31, 2022 | | :--- | :--- | :--- | :--- | | Point-of-sale loans and leases | $2,414,266 | $2,220,894 | $1,439,781 | | Commercial real estate mortgages | $752,138 | $710,369 | $722,829 | | Other | $55,334 | $48,617 | $45,847 | | **Total Loans (Gross)** | **$3,221,738** | **$2,979,880** | **$2,208,457** | | **Allowance for credit losses** | **($2,289)** | **($1,904)** | **($1,455)** | ECL Allowance by Stage as of Jan 31, 2023 (in thousands of Canadian dollars) | Stage | Loan Amount | ECL Allowance | Expected Loss % | | :--- | :--- | :--- | :--- | | Stage 1 (Performing) | $3,131,875 | $2,212 | 0.07% | | Stage 2 (Increased Credit Risk) | $88,181 | $77 | 0.09% | | Stage 3 (Impaired) | $1,682 | - | 0.00% | | **Total** | **$3,221,738** | **$2,289** | **0.07%** | [Expected Credit Loss Model and Sensitivity](index=11&type=section&id=Expected%20Credit%20Loss%20Model%20and%20Sensitivity) The Bank's IFRS 9 ECL model uses third-party macroeconomic scenarios, with sensitivity analysis showing a **downside scenario** could increase the allowance to **$4.0 million** from the reported **$2.3 million** - The Bank uses third-party forward-looking credit risk parameter modeling systems from Moody's Analytics due to its limited historical loss data, which is crucial for estimating expected credit losses[37](index=37&type=chunk) ECL Sensitivity Analysis as of Jan 31, 2023 (in thousands of Canadian dollars) | Scenario | Estimated ECL | Variance from Reported ECL | Variance % | | :--- | :--- | :--- | :--- | | **Reported ECL** | **$2,289** | **-** | **-** | | 100% Upside | $1,857 | ($432) | (19%) | | 100% Baseline | $2,772 | $483 | 21% | | 100% Downside | $4,025 | $1,736 | 76% | [Impaired loans](index=18&type=section&id=Impaired%20loans) Impaired loans significantly increased to **$1.7 million** as of January 31, 2023, up from **$279 thousand** at October 31, 2022 - The value of impaired loans increased to **$1.7 million** as of January 31, 2023, up from **$279,000** at October 31, 2022[51](index=51&type=chunk) [Note 9. Share capital](index=19&type=section&id=Note%209.%20Share%20capital) The Bank repurchased and cancelled **822,296 common shares** for **$8.3 million** under its NCIB, with **26.4 million common shares** outstanding as of January 31, 2023 - The Bank initiated a Normal Course Issuer Bid (NCIB) to purchase up to **1,700,000 common shares**, as management believes the market price is at a material discount to book value[57](index=57&type=chunk) - During the quarter ended January 31, 2023, the Bank purchased and cancelled **822,296 common shares** for **$8.3 million**[59](index=59&type=chunk) [Note 15. Capital management](index=22&type=section&id=Note%2015.%20Capital%20management) VersaBank maintained strong capital ratios above OSFI minimums, with **CET1 at 11.19%** and **Total Capital at 15.34%**, despite a slight decrease due to risk-weighted asset growth - The Bank's policy is to maintain a strong capital base to support future growth and retain market confidence, while balancing returns to shareholders[70](index=70&type=chunk) Regulatory Capital Ratios | Capital Ratio | Jan 31, 2023 | Oct 31, 2022 | Minimum Requirement | | :--- | :--- | :--- | :--- | | CET1 Capital Ratio | 11.19% | 12.00% | 7.0% | | Tier 1 Capital Ratio | 11.66% | 12.50% | 8.5% | | Total Capital Ratio | 15.34% | 16.52% | 10.5% | | Leverage Ratio | 9.21% | 9.84% | 3.0% | [Note 18. Operating segmentation](index=25&type=section&id=Note%2018.%20Operating%20segmentation) The Bank's **Digital Banking segment** generated **$24.3 million** in revenue and **$9.9 million** in net income, while the DRTC cybersecurity segment reported a **$516 thousand net loss** Segment Performance (in thousands of Canadian dollars) | Segment (Q1 2023) | Total Revenue | Net Income (Loss) | Total Assets | | :--- | :--- | :--- | :--- | | Digital Banking | $24,276 | $9,933 | $3,522,279 | | DRTC | $1,833 | ($516) | $23,797 | | **Consolidated** | **$25,918** | **$9,417** | **$3,531,690** | - The Digital Banking segment remains the primary driver of profitability, while the DRTC cybersecurity segment continues to be in an investment phase, reporting a net loss[88](index=88&type=chunk)