US$300M VersaBank (NASDAQ: VBNK) ECN Capital funding agreement expands U.S. SRP
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
VersaBank filed a Form 6-K after its U.S. subsidiary, VersaBank USA, entered an agreement with a wholly owned subsidiary of ECN Capital to use VersaBank’s Structured Receivable Program (SRP) in the United States.
The ECN Capital subsidiary is expected to add at least US$300 million in additional U.S. SRP fundings annually, with initial funding anticipated in the coming weeks. VersaBank and ECN Capital believe the program could eventually grow well beyond US$500 million per year. Management highlighted plans to introduce an industry-first real-time funding capability, designed to allow partners to finance individual loans within hours and reduce reliance on warehouse financing.
VersaBank describes itself as a branchless, digitally focused, business-to-business bank operating in Canada and the U.S., targeting underserved segments using proprietary technology, and also offering cybersecurity solutions and digital-asset-related technology through its DRT Cyber subsidiary.
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Key Figures
Expected additional US SRP fundings: US$300 million annually
Potential future US SRP volume: Well beyond US$500 million per year
Form type: Form 6-K
+1 more
4 metrics
Expected additional US SRP fundings
US$300 million annually
ECN Capital subsidiary contribution to U.S. SRP
Potential future US SRP volume
Well beyond US$500 million per year
Belief of VersaBank and ECN Capital on program growth
Form type
Form 6-K
Report of Foreign Private Issuer for July 2026
Announcement date
July 9, 2026
Date of press release and Form 6-K reference
Key Terms
Structured Receivable Program, point-of-sale financing, forward-looking statements, Real Bank Tokenized, +1 more
5 terms
Structured Receivable Program financial
"will utilize the Bank’s core Structured Receivable Program (“SRP”) in the United States"
A structured receivable program is a financing arrangement where a company turns its future customer payments into immediate cash by selling or pledging those expected receipts into a dedicated pool or vehicle. Think of it like selling future paychecks today to get money now; investors watch these programs because they change a company’s cash flow and risk profile, can affect reported debt and earnings, and rely on the quality and predictability of the underlying payments.
point-of-sale financing financial
"a leading force of significant scale in the North American point-of-sale financing industry"
Point-of-sale financing is a payment option offered to buyers at the moment they check out, letting them split a purchase into installments or get short-term credit instead of paying the full amount upfront. For investors, it matters because it can boost sales, raise average order size and customer conversion rates for merchants, while creating fee and interest revenue — but it also introduces credit risk and reliance on consumer spending patterns.
forward-looking statements regulatory
"VersaBank’s public communications often include written or oral forward-looking statements"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Real Bank Tokenized technical
"including the Bank’s revolutionary and proprietary Real Bank Tokenized"
business-to-business digital banking financial
"a North American leader in business-to-business digital banking, digital asset technology"
FAQ
What did VersaBank (VBNK) announce in its July 2026 Form 6-K?
VersaBank announced that its U.S. subsidiary entered an agreement with an ECN Capital subsidiary to use its U.S. Structured Receivable Program, adding a major new funding partner to support point-of-sale finance companies in the U.S. market.
How much funding is expected from the new ECN Capital subsidiary for VersaBank (VBNK)?
The ECN Capital subsidiary is expected to contribute at least US$300 million in additional U.S. Structured Receivable Program fundings annually. VersaBank and ECN Capital also believe the program could grow well beyond US$500 million per year over time.
When will the new VersaBank (VBNK) U.S. SRP funding with ECN Capital begin?
Initial funding under the agreement with the ECN Capital subsidiary is expected in the coming weeks from the July 9, 2026 announcement. This timing relates to the rollout of VersaBank’s Structured Receivable Program usage in the United States.
How does the ECN Capital deal fit into VersaBank’s (VBNK) U.S. SRP strategy?
The agreement adds a major originator and servicer of consumer loan assets to VersaBank’s U.S. Structured Receivable Program. Management views this as further validation of the SRP’s value and a step toward building significant scale in North American point-of-sale financing.
What technology enhancements is VersaBank (VBNK) planning for its Structured Receivable Program?
VersaBank plans to introduce an industry-first real-time funding capability for its Structured Receivable Program. This is intended to let partners finance individual loans within hours, which could lower overall financing costs and reduce the need for warehouse financing.
What is VersaBank’s (VBNK) business model and focus?
VersaBank operates a branchless, digital, business-to-business banking model in Canada and the U.S. It uses proprietary technology to serve underserved banking segments, funds primarily through electronic partners, and owns DRT Cyber, which provides cybersecurity and digital-asset-related technology solutions.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of July, 2026
Commission File Number: 001-40805
VersaBank
(Exact name of registrant as specified in its charter)
140 Fullarton Street, Suite 2002
London, Ontario N6A 5P2
Canada
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F o Form 40-F x
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o
On July 9, 2026, VersaBank issued a press release titled "VersaBank adds new ECN Capital subsidiary to US Structured Receivable Program", a copy of which is furnished as Exhibit 99.1 to this Report of Foreign Private Issuer on Form 6-K.
The information in this Form 6-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VERSABANK | ||||||||
| Date: July 9, 2026 | By: | /s/ Tammie Ashton | ||||||
| Name: Tammie Ashton | ||||||||
| Title: Global Executive Vice President | ||||||||
EXHIBIT INDEX
Exhibit No. | Description | |||||||
99.1 | Press Release dated July 9, 2026 titled "VersaBank adds new ECN Capital subsidiary to US Structured Receivable Program". | |||||||
1 July 9, 2026 Attention: Business Editors VERSABANK ADDS NEW ECN CAPITAL SUBSIDIARY TO US STRUCTURED RECEIVABLE PROGRAM – New Partner Expected to Contribute at Least US$300 Million in Additional US SRP Fundings Annually – LONDON, ON/CNW – VersaBank (TSX: VBNK; NASDAQ: VBNK), a North American leader in business-to-business digital banking, digital asset technology and technology solutions for cybersecurity, today announced its wholly owned US subsidiary, VersaBank USA, has entered into an agreement with a wholly owned subsidiary of ECN Capital (the “ECN Subsidiary”), under which the ECN Subsidiary will utilize the Bank’s core Structured Receivable Program (“SRP”) in the United States. This is the second SRP program into which ECN Capital has entered with VersaBank in the United States. The ECN Subsidiary is expected to contribute at least US$300 Million in additional US SRP fundings annually with the initial funding expected in the coming weeks. VersaBank and ECN Capital believe the program could grow well beyond US$500 million per year in the future. “The addition of our new partner, an undisputed North American leader in originating and servicing high quality consumer loan assets, is further validation of the value and attractiveness of our Structured Receivable Program and the team we have built in the United States,” said David Taylor, Founder and President, VersaBank. “Building on the SRP, we are about to take its value proposition to a whole new level with an industry first real-time funding capability. This will enable partners such as ECN Capital to finance individual loans within just hours, thereby reducing the overall financing cost and the need for warehouse financing. This groundbreaking capability using our proprietary technology will accelerate our plan to establish VersaBank as a leading force of significant scale in the North American point-of-sale financing industry.” “VersaBank’s SRP is a unique and highly attractive source of funding, and we are thrilled to expand our relationship,” said Lawrence Krimker, Chief Executive Officer, ECN Capital. “As expected, the Bank’s SRP has been a tremendous benefit to our businesses since our engagement last year and we look forward to continuing to expand the relationship with VersaBank for many years to come.” ABOUT VERSABANK VersaBank is a North American bank with a difference. Federally chartered in both Canada and the U.S., VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its funding activities electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity. In August 2024, VersaBank launched its unique Structured Receivable Program funding solution for point-of-sale finance companies, which has been highly successful in
2 Canada for over 15 years, to the underserved multi-trillion-dollar U.S. market. VersaBank also owns Minnesota- based DRT Cyber Inc., a North American leader in the provision of cyber security services to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities. Through DRT Cyber Inc., VersaBank owns proprietary intellectual property and technology to enable the next generation of digital assets for the banking and financial community, including the Bank’s revolutionary and proprietary Real Bank Tokenized DepositsTM. VersaBank’s Common Shares trade on the Toronto Stock Exchange and NASDAQ under the symbol VBNK. FORWARD LOOKING STATEMENTS VersaBank’s public communications often include written or oral forward-looking statements. Statements of this type are included in this press release and may also be included in other securities filings or in other communications. All such statements are made pursuant to the “safe harbor” provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. The statements in this press release that relate to future events or future performance are forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, many of which are beyond VersaBank’s control. There is a risk that predictions, forecasts, projections and other forward-looking statements will not be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, as a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such statements. These factors include, but are not limited to: the strength of the Canadian and US economies in general and the local economies in which VersaBank operates; the effects of changes in monetary and fiscal policy, including changes in interest rate policies of the Bank of Canada and the US Federal Reserve; global commodity prices; the effects of competition in the markets in which VersaBank operates; inflation; capital market fluctuations; the timely development and introduction of new products in receptive markets; the impact of changes in laws, including trade laws and tariffs, and regulations applicable to financial services; changes in tax laws; technological changes; unexpected judicial or regulatory proceedings; unexpected changes in consumer spending and savings habits; the impact of wars or conflicts and related effects on global supply chains and markets; the impact of outbreaks of disease or illness affecting local, national or international economies; the possible effects of terrorist activities; natural disasters and disruptions to public infrastructure (including transportation, communications, power or water supply); and VersaBank’s ability to anticipate and manage the risks associated with these factors. The foregoing list of important factors is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors as well as other uncertainties and potential events. The forward-looking information contained in this press release is presented to assist VersaBank shareholders and others in understanding VersaBank’s financial position and may not be appropriate for any other purposes. Except as required by applicable securities laws, VersaBank does not undertake to update any forward- looking statement contained in this press release or made from time to time by VersaBank or on its behalf. FOR FURTHER INFORMATION, PLEASE CONTACT: LodeRock Advisors Lawrence Chamberlain (416) 540-7486
3 lawrence.chamberlain@loderockadvisors.com Visit our website at: www.versabank.com Follow VersaBank on Facebook, Instagram, LinkedIn and X.