VersaBank (NASDAQ: VBNK) adds veteran Moe Danis to bolster Real-Time SRP
Rhea-AI Filing Summary
VersaBank reported that it has added point-of-sale financing industry veteran Moe Danis, CFA, to its Structured Receivable Program (SRP) team to support business development, particularly with specialized large partners in the U.S. market, following increased demand after the launch of its Real-Time SRP.
Danis, who previously worked at VersaBank from 2010 to 2016, brings nearly five decades of experience in banking, leasing, finance and the private securitization market. Leadership comments emphasize his role in addressing significantly higher interest in the SRP, a funding solution for point-of-sale finance companies that VersaBank launched into the underserved multi-trillion-dollar U.S. market in August 2024 after more than 15 years of success in Canada. The communication also outlines VersaBank’s digital, branchless business-to-business banking model, its cybersecurity subsidiary DRT Cyber Inc., and includes cautions regarding forward-looking statements and macroeconomic, competitive and regulatory risks.
Positive
- None.
Negative
- None.
Key Figures
Industry experience: nearly five decades
Canadian SRP track record: over 15 years
U.S. point-of-sale finance market size: multi-trillion-dollar U.S. market
+1 more
4 metrics
Industry experience
nearly five decades
Experience of Moe Danis in banking and lease and finance industries
Canadian SRP track record
over 15 years
Period SRP funding solution has been highly successful in Canada
U.S. point-of-sale finance market size
multi-trillion-dollar U.S. market
Size of underserved U.S. market targeted by VersaBank’s SRP funding solution
U.S. SRP launch date
August 2024
Launch of Structured Receivable Program funding solution into the U.S. market
Key Terms
Structured Receivable Program, point-of-sale financing, private securitization market, Portfolio Finance facilities, +1 more
5 terms
Structured Receivable Program financial
"added ... to the Bank’s Structured Receivable Program (SRP) team"
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
"Moe knows the point-of-sale financing industry and, more importantly, knows VersaBank’s SRP"
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.
private securitization market financial
"leader and innovator in the private securitization market in Canada"
A private securitization market is the buying and selling of securities backed by pools of loans or receivables (like mortgages, car loans, or credit-card debt) that are issued directly to a limited set of institutional investors instead of being sold on public exchanges. Think of it as bundling many loans into a single IOU sold privately; it matters to investors because it affects return, liquidity, credit risk, and transparency compared with public bond markets.
Portfolio Finance facilities financial
"leaders of Portfolio Finance facilities"
Real Bank Tokenized financial
"including the Bank’s revolutionary and proprietary Real Bank Tokenized"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did VersaBank (VBNK) announce regarding Moe Danis?
VersaBank announced that Moe Danis, CFA, a veteran of the point-of-sale financing industry, has joined its Structured Receivable Program (SRP) team to support business development, with a focus on specialized large-partner opportunities in the U.S. market.
What is VersaBank’s Structured Receivable Program (SRP) and Real-Time SRP?
VersaBank’s SRP is a funding solution for point-of-sale finance companies. The Bank has launched its Real-Time SRP, providing real-time funding capabilities, and extended the SRP funding solution to the underserved multi-trillion-dollar U.S. market in August 2024.
What experience does Moe Danis bring to VersaBank (VBNK)?
Moe Danis brings nearly five decades of experience in banking and lease and finance industries, including prior service at VersaBank, senior roles at CWB Maxium Financial Inc. and SunLife, and leadership in Canada’s private securitization market since the late 1980s.
How does VersaBank (VBNK) describe its business model?
VersaBank describes itself as a digital, branchless, business-to-business bank, federally chartered in Canada and the U.S., obtaining substantially all deposits electronically through financial intermediary partners, which it states provides operating leverage that supports efficiency and return on common equity.
What other businesses and technology does VersaBank (VBNK) own?
VersaBank owns DRT Cyber Inc., a cybersecurity services provider addressing cyber threats to financial institutions, corporations and governments. Through DRT Cyber Inc., VersaBank also owns proprietary intellectual property supporting next-generation digital assets, including its Real Bank Tokenized technology.
What forward-looking statement risks does VersaBank highlight in this update?
VersaBank notes that forward-looking statements involve risks related to economic conditions in Canada and the U.S., interest rate policies, competition, inflation, regulatory and tax changes, technological change, consumer behavior, wars or conflicts, disease outbreaks, terrorist activities, and natural disasters, among other factors.
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 23, 2026, VersaBank issued a press release titled "VersaBank welcomes back financing industry veteran Moe Danis to support anticipated growth of Real-Time SRP", 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 23, 2026 | By: | /s/ Tammie Ashton | ||||||
| Name: Tammie Ashton | ||||||||
| Title: Global Executive Vice President | ||||||||
EXHIBIT INDEX
Exhibit No. | Description | |||||||
99.1 | Press Release dated July 23, 2026 titled "VersaBank welcomes back financing industry veteran Moe Danis to support anticipated growth of Real-Time SRP". | |||||||
For Immediate Release: July 23, 2026 Attention: Business Editors VERSABANK WELCOMES BACK FINANCING INDUSTRY VETERAN MOE DANIS TO SUPPORT ANTICIPATED GROWTH OF REAL-TIME SRP LONDON, ONTARIO/CNW/ – VersaBank (“VersaBank” or the “Bank”) (TSX:VBNK; NASDAQ:VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced it has added point-of-sale financing industry veteran Moe Danis, CFA, to the Bank’s Structured Receivable Program (SRP) team to support business development in response to increased demand following the Bank’s launch of its Real-Time SRP, with a particular focus on specialized large- partner opportunities in the U.S. market. “Previously with the Bank from 2010 to 2016, Moe knows the point-of-sale financing industry and, more importantly, knows VersaBank’s SRP, having been integral to its early development and roll out,” said David Taylor, Founder and President, VersaBank. “He is the natural choice as an additional experienced expert to address the significantly increased demand for our SRP since launching our real-time funding.” “I am pleased to welcome Moe to the U.S. SRP team to help capitalize on the new opportunities arising from our announcement of our game-changing real-time capabilities,” said Tel Matrundola, President, VersaBank USA. “Moe is an excellent complement to the experience and expertise of our SRP veteran Mike Dixon to ensure we have the resources to maximize this opportunity at this critical juncture.” “VersaBank’s Real-Time SRP is a revolutionary funding solution for point-of-sale financing companies and it’s not at all surprising that the Bank is seeing a significant increase in interest in what is a truly unique and highly attractive funding solution,” said Moe Danis. “I am thrilled to again work with what I believe is the most innovative banking team in North America and contribute to the growth of the SRP portfolio.” Mr. Danis has nearly five decades of experience as a leader and innovator in the banking and lease and finance industries. In addition to being a highly sought after consultant, including to point-of-sale financing companies, and his previous tenure at VersaBank, Mr. Danis’ experience includes serving as Senior Vice President, Program Finance, at CWB Maxium Financial Inc. and Managing Director, Lease Finance, Private Fixed Income at SunLife. Since the late 1980s, Mr. Danis has been a leader and innovator in the private securitization market in Canada. He has experienced the complete business and credit lifecycle through the lens of several of Canada’s leaders of Portfolio Finance facilities. His ability to understand the demands of a highly regulated institutional environment allows him to create and structure attractive finance programs for all sizes of originators. Mr. Danis has served as a board member to a number of independent leasing companies and the Canadian Finance and Leasing Association.
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 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 STATAEMENTS 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 within 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 lawrence.chamberlain@loderockadvisors.com Visit our website at: www.versabank.com Follow VersaBank on Facebook, Instagram, LinkedIn and X.