$VBNK.TO

VersaBank up 1.2% in U.S. Pre-Market as Q2 Adjusted Earnings, Revenue, Beat Estimates

VersaBank (VBNK.TO), up 1.2% in U.S. pre-market trading, said Wednesday that second-quarter adjusted earnings and revenue both climbed, beating estimates.Adjusted earnings, stripped of most one-time items, surged 45% to $12.4 million, or $0.39 per share, compared with adjusted earnings of $8.5 million, or $0.26 per share in the prior year period. Analysts polled by FactSet had expected $0.35 per share.Total revenue jumped 27% to a record $38.3 million, beating the $36.5 million analysts expected. The increase was primarily due to the continued growth in credit assets, which were up 25% year-over-year.The company will pay a regular quarterly dividend of $0.025 per share on July 31, to shareholders of record on July 10.VersaBank separately announced today that it has publicly filed a Form S-4 registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with its plan to realign its corporate structure to a standard U.S. bank framework. The reorganization will see Versa Bancorp, a new Delaware corporation become the holding company of VersaBank and VersaBank USA National Association.Versabank shares were last seen up US$0.22, to US$18.35 in New York trading.

Versabank Reorganisation Will Cause Versa Bancorp, a new Delaware Corporation (Parent), To Become Holding Co of VersaBank and VersaBank USA National Association

Versabank Files With SEC On Reorganisation

Versabank Q2 Income Per Common Share Basic and Diluted $0.23

Versabank Q2 Adjusted (Core) Income Per Common Share Basic and Diluted 0.39

VersaBank Starts Pilot Program With FinanceIt For New Real-Time Structured Receivable Program

VersaBank (VBNK.TO, VBNK), a North American player in business-to-business digital banking and technology solutions for cybersecurity, commenced a pilot program with one of its "major" structured receivable program partner, FinanceIt Canada, for its new Real-Time Structured Receivable Program, it said Wednesday.The purpose of the pilot program is to demonstrate the "functionality and operational integrity" of the Real-Time SRP in a "limited-scale, real-world scenario" to refine the solution for full implementation by FinanceIt and simultaneous roll out to all VersaBank's current and prospective SRP partners in both Canada and the United States, the company said."VersaBank's Real-Time SRP is a breakthrough innovation in point-of-sale financing, providing the same reliable, economically attractive funding solution as the Bank's existing SRP, with the additional benefit of eliminating the need for SRP partners to warehouse multiple receivables over a period of time," said the company in a statement.Shares of the company closed unchanged at $25.15 on Tuesday on the Toronto Stock Exchange.

VersaBank Renews Its Normal Course Issuer Bid

VersaBank (VBNK.TO, VBNK) received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB) for its common shares, it said Tuesday.The company may buy back for cancellation up to 2-million of its common shares representing about 9.14% of its public float. As of April 16, the public float comprised of 21.9-million common shares and 32.2-million issued and outstanding common shares in total.The purchases may start on April 30, 2026, and will cancel on April 29, 2027, or such earlier date as VersaBank may complete its purchases pursuant to the NCIB.U.S.-listed shares of the company were last seen down 0.9% at US$18.10 in pre-market trading.

VersaBank Says Received TSX Approval For Renewal of NCIB

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.