VersaBank(US:VBNK)2025-03-05 16:35Financial Performance - Total assets increased to $4.97 billion, a 15% year-over-year increase from $4.31 billion[9, 11] - Credit assets reached $4.35 billion[9, 11, 16] - Cash and securities significantly increased by 109% year-over-year, reaching $0.55 billion compared to $0.26 billion[11] - Net income was $8.1 million, a 36% decrease year-over-year[9, 14] - Earnings per share (EPS) was $0.28, a 42% decrease year-over-year[9, 14] - Total revenue was $27.8 million, a 4% decrease year-over-year[9, 14] Digital Banking Operations - Canadian Digital Banking Efficiency Ratio is 47%[9] - Digital Banking Canada revenue decreased by 11% year-over-year to $23.81 million[15] - Digital Banking USA revenue was $2.04 million[15] - Net Interest Margin (NIM) on credit assets was 2.36%[9, 19] Receivable Purchase Program (RPP) - Receivable Purchase Program portfolio comprised $928 million of the $4.35 billion total credit asset portfolio[17] - Multi-Family Residential Loans & Other comprised $3.4 billion of the $4.35 billion total credit asset portfolio[17] Capital and Ratios - CET1 Ratio was 14.61%, an increase of 322 bps year-over-year[11] - Leverage Ratio was 9.67%, an increase of 123 bps year-over-year[11] - Book value per common share increased by 11% year-over-year to $16.03[11]