$VBNK

VersaBank Shareholders Approve US Corporate Reorganization

VersaBank (VBNK) shareholders have voted in favor of the special resolution approving a plan to realign its corporate structure to a standard US bank framework, according to a regulatory filing Thursday.The total common shares that voted for the reorganization resolution were around 21.9 million, or 99.7%, the filing said.Under the reorganization, a new Delaware-based holding company, Versa Bancorp, would become the parent of VersaBank and VersaBank USA National Association and succeed VersaBank as the publicly traded entity, according to an earlier statement.Price: $22.83, Change: $+0.21, Percent Change: +0.93%

VersaBank Reports Higher Fiscal Q3 Adjusted (Core) Income Per Common Share, Total Revenue Rises; Declares Dividends

VersaBank (VBNK.TO, VBNK) reported fiscal third quarter adjusted income per share of CA$0.38 compared with CA$0.30 a year earlier.Revenue for the quarter ended July 31 was CA$38.81 million compared with CA$31.58 million a year earlier, VersaBank added Thursday. Three analysts polled by FactSet expected revenue of CA$40.3 million.VersaBank also declared a dividend of CA$0.025 per share for the quarter ending Oct. 31, payable as of Oct. 31, to shareholders of record on Oct. 9, it added. It is unchanged from the prior quarter.The company's shares were last seen up CA$0.55 to CA$26.99 on the Toronto Stock Exchange.Price: $26.99, Change: $+0.55, Percent Change: +2.08%

Earnings Flash (VBNK) VersaBank Reports Q3 Revenue CA$38.8M, vs. FactSet Est of CA$40.3M

Earnings Flash (VBNK) VersaBank Posts Q3 Adjusted EPS CA$0.38 per Share, vs. FactSet Est of CA$0.44

Roth Capital Upgrades VersaBank to Buy From Neutral, Lifts Price Target to CA$35.58 From CA$27.91

VersaBank Launches Real-Time Structured Receivable Program in Canada, US

VersaBank (VBNK) said Monday it launched its AI-enabled Real-Time Structured Receivable Program in Canada and the US, with Financeit.The bank said the real-time SRP is now available to existing and prospective partners and expects the platform to expand its addressable point-of-sale financing market while helping grow business with current and new partners.Financeit said it expects the rollout to make an immediate contribution to its business as it approaches $2 billion in annual loan originations.Price: $20.05, Change: $+0.77, Percent Change: +3.99%

VersaBank Begins Receiving QCAD Deposits Under Stablecorp Deal; Notes Kraken Listing Of C$ Stablecoin

VersaBank (VBNK.TO) on Monday said began receiving QCAD deposits under its previously announced custody services agreement with Stablecorp, a Canadian digital-asset infrastructure company and servicer of the QCAD Digital Trust and whose investors include Coinbase, Circle, DeFi Technologies and FTP Ventures.QCAD is Canada's first regulatory compliant Canadian-dollar stablecoin.The bank also congratulated Stablecorp on the listing of QCAD on Kraken, a registered restricted dealer in Canada and one of the longest-standing crypto asset trading platforms globally. Under the listing, QCAD will be available for trading on Kraken, facilitating the settlement of digital-asset transactions in a Canadian dollar denominated instrument."The start of the flow of QCAD deposits is not only further validation of the market-readiness of our VersaVault technology for the rapidly growing digital asset opportunity but also represent a significant milestone for the bank as our first incremental income from our digital asset strategy," said president David Taylor. "The value of stablecoins in circulation is forecast to grow to as much as US$4 trillion in the next four years - a 20-fold increase. Licensed, regulated banks, as they have been for centuries, are the trusted, regulated safekeepers of deposits for individuals and businesses, and are ideally positioned to act in the same capacity," he added.Shares of VersaBank closed up $2.20 to $24.05 on the Toronto stock Exchange.