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]

Investment Plans - MercadoLibre plans to increase its investment in Brazil by 48%, from 23 billion reais (approximately $3.7 billion) in 2024 to 34 billion reais (approximately $5.8 billion) in 2025, focusing on logistics, technology, marketing, and increasing its staff by 14,000 to a total of 50,000 [1] - The company also announced a $3.4 billion investment in Mexico, its second largest market after Brazil [2] Market Performance - MercadoLibre reported double-digit growth year over year in unique active buyers and items sold, with unique buyers increasing by 24% to 67.3 million and items sold rising by 27% to 525.5 million [3] Strategic Goals - The Chief Financial Officer emphasized the importance of a solid credit card offering to the company's ambition of becoming the largest digital bank in Latin America, indicating continued investment in the platform despite potential short-term margin pressures [4] - MercadoLibre aims to leverage data from its extensive customer base to offer financial products such as loans and insurance, positioning itself as a dominant force in digital banking in the region [4] Digital Engagement in Brazil - Brazil has been identified as a global leader in digital engagement, with the highest number of activity days among consumers in core digital activities such as banking, shopping, and entertainment [5]

Core Viewpoint - Bank of America remains a strong investment option despite a recent stock decline, benefiting from a robust consumer business and organic growth strategies [1][5]. Group 1: Company Performance - Bank of America is the second-largest U.S. bank by assets, with a strong consumer business that has thrived in a high-interest-rate environment, adding 1.1 million new consumer checking accounts and 4 million credit cards in 2024 [1]. - The global wealth segment has seen significant growth, with client balances reaching $4.3 trillion, up 12% year over year, and assets under management increasing by 52% to $79 billion [2]. - Commercial banking is also performing well, with investment banking fees rising by 31% in 2024 and average deposits increasing by 10% to a record $528 billion [2]. Group 2: Digital and Organic Growth - The company has focused on organic growth, particularly in its deposit business, with 78% of consumer banking customers using the digital platform in Q4, and digital sales accounting for 61% of total sales [3]. - Heavy investments in technology have enhanced customer engagement on digital platforms, positioning Bank of America competitively against all-digital banks [3]. Group 3: Financial Metrics - Average loans increased by 3%, with commercial loans up by 5%, while net interest income rose from $14.1 billion to $14.5 billion year over year in Q4, contributing to a revenue increase of 15% [4]. - Earnings per share (EPS) improved to $0.82, up from $0.35 the previous year [4]. Group 4: Investment Appeal - Bank of America is characterized as a classic Buffett stock, known for its necessity in various economic conditions and its ability to generate profits without excessive reinvestment [5]. - The company offers a growing dividend yield of 2.4%, indicating a commitment to shareholder wealth creation [6]. - The stock is considered relatively cheap, trading at less than 12 times forward one-year earnings and 1.2 times book value, making it an attractive option for passive income [7].