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VersaBank

VersaBank

NASDAQ•VBNK
CEO: Mr. David Roy Taylor B.Sc., BSc (Hons), FICB, M.B.A., MBA, PPL
Sector: Financial Services
Industry: Banks - Regional
Listing Date: 2021-08-27
VersaBank provides various banking products and services in Canada and the United States. It offers deposit products, such as web-based chequing accounts, guaranteed investment certificates, registered retirement savings plans, and tax-free savings accounts, as well as deposit insurance products. The company also provides lending services, including point of sale financing that covers purchasing loan and lease receivables from finance companies operating in various industries; commercial banking services comprising commercial real estate, public sector/infrastructure financing, and condominium financing; and residential mortgages. In addition, it offers cybersecurity services. The company was formerly known as Pacific & Western Bank of Canada and changed its name to VersaBank in May 2016. VersaBank was incorporated in 1979 and is headquartered in London, Canada.
Contact Information
140 Fullarton Street, Suite 2002, London, ON, N6A 5P2, Canada
519-645-1919
www.versabank.com
Market Cap
$377.65M
P/E (TTM)
18.7
14.1
Dividend Yield
0.6%
52W High
$18.38
52W Low
$8.51
52W Range
33%
2.6
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.6 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$55.15M+180.75%
4-Quarter Trend

EPS

$0.15-42.86%
4-Quarter Trend

FCF

$133.63M-1388.73%
4-Quarter Trend

2024 FY Earnings Highlights

Key Highlights

FY2024 Annual Report Amended Amendment No. 1 filed for fiscal year ended October 31, 2024, primarily adding governance exhibits and certifications.
Share Count Verified Total outstanding common shares confirmed at 26,002,577 as of the close of the reporting period for the annual report.
Governance Exhibits Filed Compensation Recoupment Policy (Exhibit 97.1) and updated CEO/CFO certifications (Exhibit 99.5) included in this amendment filing.
Regulatory Filings Complete Registrant confirms all required Section 13 or 15(d) reports were filed during the preceding twelve months successfully.

Risk Factors

Governance Compliance Scrutiny Inclusion of new recoupment policy suggests heightened focus on executive compensation clawback requirements under SEC rules.
Foreign Issuer Disclosure Differences Canadian disclosure standards differ from US GAAP, requiring careful reconciliation for US investors accessing Form 40-F.
Certification Liability Exposure New Section 302/906 certifications increase executive liability regarding financial statement accuracy and internal control effectiveness.

Outlook

Future Governance Updates Expect continued adherence to US governance standards, including future exhibit updates as mandated by SEC rules for compliance.
Financial Statement Review Full financial performance analysis requires review of Exhibits 99.2 (Statements) and 99.3 (MD&A) from original filing.
Dual Listing Maintained Bank maintains dual listing status on Nasdaq Global Select Market and Toronto Stock Exchange successfully for investors.

Peer Comparison

Revenue (TTM)

Kearny Financial Corp.KRNY
$267.54M
-18.8%
First Business Financial Services, Inc.FBIZ
$252.67M
-1.3%
Southern First Bancshares, Inc.SFST
$220.88M
+4.7%

Gross Margin (Latest Quarter)

Sierra BancorpBSRR
71.9%
+2.5 pp
Southern First Bancshares, Inc.SFST
51.7%
+8.0 pp
VersaBankVBNK
40.1%
-232.9 pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
COFS$447.38M20.81.6%5.7%
FBIZ$435.10M8.315.0%0.0%
HBCP$426.32M9.610.9%1.8%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-0.1%
Flat Growth
4Q Net Income CAGR
+5.8%
Profitability Improving
Cash Flow Stability
50%
Cash Flow Needs Attention

Research & Insights

Reports
All Years

  • Form 40-F/A - FY 2024

    Period End: Oct 31, 2024|Filed: Apr 15, 2025|
    Revenue: $80.31M+2.8%
    |
    EPS: $1.07-2.6%
    Beat

  • Form 40-F - FY 2024

    Period End: Oct 31, 2024|Filed: Dec 9, 2024|Refer to amended data

  • Form 40-F - FY 2023

    Period End: Oct 31, 2023|Filed: Dec 13, 2023|
    Revenue: $80.55M+31.9%
    |
    EPS: $1.13+93.7%
    Beat

  • Form 40-F - FY 2022

    Period End: Oct 31, 2022|Filed: Dec 7, 2022|
    Revenue: $63.94M+26.1%
    |
    EPS: $0.61-17.7%
    Beat

  • Form 40-F - FY 2021

    Period End: Oct 31, 2021|Filed: Jan 28, 2022|
    Revenue: $52.04M+20.6%
    |
    EPS: $0.76+17.1%
    Meet