Welcome to our dedicated page for Versabank news (Ticker: VBNK), a resource for investors and traders seeking the latest updates and insights on Versabank stock.
VersaBank (VBNK) is a pioneering digital Schedule I Canadian bank operating through a branchless model, specializing in business-to-business financial solutions and cybersecurity services via its DRT Cyber subsidiary. This news hub provides investors and financial professionals with essential updates on the bank’s strategic initiatives, technological advancements, and market positioning.
Access real-time updates on VersaBank’s digital lending programs, including its innovative Receivable Purchase Program (RPP), cybersecurity developments, and partnerships shaping North American B2B banking. Our curated news collection helps stakeholders monitor operational efficiency metrics, regulatory compliance updates, and expansion strategies in digital finance.
Key coverage includes earnings reports, technology deployments, risk management practices, and analysis of the bank’s unique position in cloud-based financial services. All content is verified for accuracy and relevance to support informed decision-making.
Bookmark this page for ongoing insights into how VersaBank continues redefining commercial banking through secure, technology-driven solutions while maintaining one of the industry’s most efficient operating models.
VersaBank (TSX: VBNK, NASDAQ: VBNK) announced on June 5, 2024, the declaration of cash dividends for the quarter ending July 31, 2024. A dividend of CAD $0.025 per Common Share and CAD $0.1693 per Series 1 Preferred Share will be payable on July 31, 2024. Shareholders of record at the close of business on July 5, 2024, will be eligible for these dividends. The declared dividends are considered eligible for tax purposes.
VersaBank reported its second quarter fiscal 2024 results, highlighting a record 18% year-over-year growth in its loan portfolio and earnings per share (EPS) increase of 18%. Total assets grew 18% year-over-year to $4.4 billion, while total revenue rose 7% to $28.5 million. Net income increased by 15% to $11.8 million despite a sequential decline of 7%. The bank's efficiency ratio improved to 38%, and return on common equity stood at 12.36%. Challenges included a sequential revenue decrease of 1% and a drop in net interest margin to 2.45%. The bank is awaiting regulatory approval for a US bank acquisition, which could significantly boost its assets and profitability.
VersaBank (TSX: VBNK, NASDAQ: VBNK) has announced its participation in the MicroCap Rodeo Conference on June 6, 2024, in New York City. David Taylor, the President and CEO, will present at 3:00 p.m. ET. The presentation will be available via a live webcast on the bank's website. VersaBank will also engage in one-on-one meetings with institutional investors during the event. Interested investors can register for these meetings through the MicroCap Rodeo website.
VersaBank (TSX: VBNK, NASDAQ: VBNK) will release its second quarter fiscal 2024 financial results on Wednesday, June 5, 2024, at 7:00 a.m. ET. A conference call/webcast will follow at 9:00 a.m. ET, featuring presentations by CEO David Taylor and CFO John Asma, including a Q&A session. The webcast can be accessed via the Bank's website or a live link, with a replay available until July 5, 2024. Interested parties can join the conference call through automated call-back registration or direct dialing. The related slide presentation will also be available online.
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