VersaBank(US:VBNK)2022-03-02 15:15Financial Performance - Total assets increased by 18% year-over-year, reaching $2.42 billion compared to $2.04 billion in the previous year[18] - Total revenue increased by 18% year-over-year, reaching $18.3 million compared to $15.4 million in the previous year[11, 23] - Net income increased by 5% year-over-year, reaching $5.6 million compared to $5.3 million in the previous year[12, 23] - The cost of funds decreased by 13 bps year-over-year to 1.29%[13, 23, 25] Balance Sheet & Ratios - Book value per common share increased by 8% to $11.78 from $10.90[18] - CET1 ratio increased by 235 bps year-over-year to 14.83%[18] - Leverage ratio increased by 129 bps year-over-year to 12.69%[18] Loan Portfolio - The loan portfolio reached a record of over $2.2 billion[14] - Point-of-Sale Loans/Leases accounted for $1.4 billion, representing 65% of the total loan portfolio[22] - Commercial Lending – Real Estate Loans accounted for $723 million, representing 33% of the total loan portfolio[22]