VersaBank

VersaBank is a Canadian financial institution that provides a range of banking products and services in Canada and the United States. Its operations are structured into several segments: Digital Banking Canada, Digital Banking USA, and DRTC, which focuses on cybersecurity services and banking and financial technology development. The bank offers deposit products such as guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, along with deposit insurance products. On the lending side, it provides point-of-sale financing, which involves purchasing loan and lease receivables from finance companies across various industries, as well as commercial real estate mortgages and loans, public sector leases, and financing. Additionally, VersaBank offers cybersecurity services through its DRTC segment.

VersaBank is listed on the Nasdaq Global Select Market (NasdaqGS) under the ticker symbol VBNK. Its shares trade in US dollars (USD), making it accessible to investors in the United States and globally. The bank is headquartered in London, Canada, and its primary operations are in Canada and the United States, but its listing on a major US exchange provides liquidity and visibility to a broad investor base.

VersaBank operates in the Financial Services sector, specifically within the Banks - Regional industry. As a regional bank, it focuses on serving customers in specific geographic areas, primarily Canada and the United States. Its business includes traditional banking activities such as taking deposits and making loans, but it also has a unique focus on digital banking and cybersecurity services through its DRTC segment. This combination of traditional and technology-driven services distinguishes it from many other regional banks.

VersaBank is headquartered in London, Canada, and was incorporated in 1979. It serves customers in both Canada and the United States. The bank's operations are divided into Digital Banking Canada and Digital Banking USA segments, indicating a cross-border presence. Additionally, its DRTC segment provides cybersecurity services and develops banking and financial technology, which may serve clients beyond these two countries. The bank was formerly known as Pacific & Western Bank of Canada before rebranding to VersaBank in May 2016.

VersaBank's business is structured into three main segments: Digital Banking Canada, Digital Banking USA, and DRTC. The Digital Banking Canada segment handles deposit products and lending services within Canada, including point-of-sale financing, commercial real estate mortgages, and public sector loans. The Digital Banking USA segment extends similar services to the United States. The DRTC segment is distinct, focusing on cybersecurity services and the development of banking and financial technology. This segment allows VersaBank to offer innovative solutions and potentially generate revenue from technology services, complementing its traditional banking operations.