VersaBank targets US$3B boost from U.S. loan program

VersaBank extends its U.S. Structured Receivable Program to small business lending, aiming for at least US$3 billion in additional SRP fundings next year.

Rhea-AI Filing Summary

VersaBank (VBNK) announced an expansion of its U.S. Structured Receivable Program (SRP) by launching funding to point-of-sale originators of small business loans and leases, in addition to its existing retail consumer focus. Management estimates this more than doubles its SRP market opportunity in the U.S.

The bank has built a pipeline of potential new SRP partners and expects the broader program, including its Real-Time SRP, to support a target of generating at least US$3 billion in additional U.S. SRP fundings next year. Real-Time SRP also enables partners to finance individual loans within hours, potentially reducing warehouse financing needs and enhancing VersaBank’s AI-driven risk evaluation.

Positive

• U.S. SRP market more than doubles as VersaBank adds small business loans and leases to its U.S. Structured Receivable Program, expanding beyond the retail consumer sector.
• Management targets at least US$3 billion in additional U.S. SRP fundings next year, signalling ambitious growth expectations for the expanded program.

Negative

• None.

Key Figures

Additional U.S. SRP fundings target: at least US$3 billion Change in U.S. SRP market size: more than doubles Real-Time SRP warehouse period replaced: 5–30+ days +2 more

5 metrics

Additional U.S. SRP fundings target at least US$3 billion Target for additional U.S. Structured Receivable Program fundings next year

Change in U.S. SRP market size more than doubles Estimated increase in U.S. market opportunity from adding small business loans and leases to SRP

Real-Time SRP warehouse period replaced 5–30+ days Typical period partners previously warehoused receivables before Real-Time SRP allowed funding within hours

Canadian SRP small business track record since 2010 VersaBank’s experience servicing the small business sector in Canada through SRP

U.S. SRP launch timing August 2024 Launch of VersaBank’s Structured Receivable Program to the U.S. market

Key Terms

Structured Receivable Program, Real-Time SRP, point-of-sale originators, warehouse financing, +1 more

5 terms

Structured Receivable Program financial

"VersaBank's Structured Receivable Program ("SRP") is an innovative and highly attractive digital funding solution"

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.

Real-Time SRP financial

"VersaBank's Real-Time SRP is a revolutionary innovation in funding for point-of-sale financing companies"

point-of-sale originators financial

"launch of its SRP, including its groundbreaking Real-Time SRP, to point-of-sale originators of small business loans and leases"

warehouse financing financial

"reducing the overall financing cost and the need for warehouse financing"

Warehouse financing is a short-term loan arrangement where a lender advances money against a company’s stock of goods or recently originated loans so the company can keep operating until those assets are sold or packaged for longer-term funding. Think of it like a temporary storage locker loan that frees up cash now by using inventory or loan pools as collateral. For investors, it matters because changes in warehouse financing can quickly affect a company’s cash flow, leverage and vulnerability to funding disruptions.

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.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did VersaBank (VBNK) announce in this 6-K filing?

VersaBank announced it has expanded its U.S. Structured Receivable Program to fund point-of-sale originators of small business loans and leases, moving beyond its prior focus on retail consumer loans in the U.S. and leveraging its Real-Time SRP technology.

How does the SRP expansion affect VersaBank (VBNK)’s U.S. market opportunity?

Management estimates that making the SRP available for funding small business loans and leases more than doubles VersaBank’s market opportunity in the U.S., by serving both new small business-focused partners and expanding usage by existing partners.

What growth target did VersaBank (VBNK) provide for its U.S. SRP?

VersaBank stated that the expanded SRP, including small business funding, supports its target to generate at least US$3 billion in additional U.S. SRP fundings next year, reflecting its growth expectations for the program.

What is VersaBank (VBNK)’s Real-Time Structured Receivable Program?

Real-Time SRP is described as a funding innovation that lets point-of-sale finance companies finance individual loans within hours instead of warehousing receivables for 5–30 days, reducing financing costs and warehouse needs while enhancing AI-based risk evaluation.

How long has VersaBank (VBNK) offered the Structured Receivable Program in Canada and the U.S.?

VersaBank has serviced the small business sector in Canada through its SRP since 2010, and it launched its Structured Receivable Program for point-of-sale finance companies in the U.S. in August 2024.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/22/2026 - 09:24 AM Accepted by SEC EDGAR 09/22/2026 - 09:23 AM Learn about SEC filing dates

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 September 2026

Commission File Number: 001-40805

VersaBank
(Translation of registrant's name into English)

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 ☐      Form 40-F ☒

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): ☐

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): ☐

SUBMITTED HEREWITH

Exhibits

Exhibit		Description
99.1		Press  Release dated September 22, 2026 titled "VersaBank Significantly Expands Addressable Market for Structured Receivable Program in the U.S. with Launch of Funding to Small Business Sector"

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
	(Registrant)
Date: September 22, 2026	By:	/s/ Lawrence Chamberlain
		Name: Lawrence Chamberlain
		Title: Global Senior Vice President, Investor & Stakeholder Relations

FOR RELEASE: September 22, 2026

VERSABANK SIGNIFICANTLY EXPANDS ADDRESSABLE MARKET FOR STRUCTURED RECEIVABLE PROGRAM IN THE U.S. WITH LAUNCH OF FUNDING TO SMALL BUSINESS SECTOR

LONDON, ON - VersaBank (or the "Bank") (TSX: VBNK; NASDAQ: VBNK) today announced that, as the next step in the ramp up of its Structured Receivable Program ("SRP") in the United States, it has significantly expanded the addressable market for its SRP in the U.S. through the launch of its SRP, including its groundbreaking Real-Time SRP, to point-of-sale originators of small business loans and leases.  Prior to the launch of the SRP for the small business sector, all the Bank's SRP fundings in the U.S. have been to the retail consumer sector.  The launch enables VersaBank to add SRP partners that are focused on lending to the small business sector, while also enabling existing partners to expand their utilization of the Bank's SRP to small business loan originations.  In anticipation of this launch, the Bank has developed a robust pipeline of potential new SRP partners in the U.S.

David Taylor, Founder and President, VersaBank commented, "The considerable growth and success of our SRP in the U.S. to date has been entirely through funding of point-of-sale loans to the retail consumer sector, resulting in pent-up demand for our SRP for funding of the small business sector - a sector we have serviced in Canada since 2010 and a major contributor to our growth there.  We estimate that making our SRP available to partners for the funding of small business loans and leases more than doubles the size of our market opportunity in the U.S., addressing a need within our current SRP partners, while enabling us to add new partners, all of which supports our target to generate at least US$3 billion in additional U.S. SRP fundings next year."

"Once again, VersaBank is leading through innovation, using our sophisticated, proprietary banking technology to address an underserved banking market with a better alternative.  Small businesses are a massive and vital part of the U.S. economy and VersaBank is proud to now offer a new and unique reliable, efficient and economical funding solution to point-of-sale companies providing financing to this sector.  Our SRP and Real-Time SRP will better enable U.S. small businesses to do what they do - invest and grow in their role as the true powerhouses of U.S. economic activity."

ABOUT VERSABANK'S STRUCTURED RECEIVABLE PROGRAM ("SRP") AND REAL-TIME SRP

VersaBank's Structured Receivable Program ("SRP") is an innovative and highly attractive digital funding solution for finance companies that lend money to consumers and small businesses for what are typically "big ticket" purchases (e.g. consumer home improvement/HVAC projects and a wide variety of commercial equipment). It was specifically designed to address an unmet need in the market for consistently available, readily accessible financing with economically attractive capital designed to maximize return on equity while employing VersaBank's proprietary, state-of-the-art banking technology.

VersaBank's Real-Time SRP is a revolutionary innovation in funding for point-of-sale financing companies, providing the same reliable, economically attractive funding solution as the Bank's existing SRP, with the additional benefit of eliminating the need for SRP partners to warehouse multiple receivables over a period of time (typically from five to 30 or more days). This enables the Bank's SRP partners to finance individual loans within just hours, reducing the overall financing cost and the need for warehouse financing. It also further strengthens VersaBank's exceptional risk mitigation capabilities by enabling the Bank to better leverage its own, internal AI platform through evaluation of the partner loans underlying the SRP receivables on an individual basis.

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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 technology designed to address underserved segments of the banking industry. VersaBank obtains substantially all of its deposits and undertakes the majority of its funding activities electronically through financial intermediary partners. In August 2024, VersaBank launched its unique Structured Receivable Program funding solution for point-of-sale finance companies, which has been deployed in Canada for over 15 years, to the U.S. market. VersaBank also owns Minnesota-based DRT Cyber Inc., which provides 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 designed to enable the next generation of digital assets for the banking and financial community, including the Bank's proprietary Real Bank Tokenized Deposits^TM.

VersaBank's 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, including statements regarding our ability to obtain any required regulatory approvals, the impact of the Reorganization on VersaBank and its shareholders and other matters relating to the Reorganization.

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 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.

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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:

Lawrence Chamberlain

Global Senior Vice President, Investor and Stakeholder Relations

(416) 540-7486

lawrencec@versabank.com

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Filing Exhibits & Attachments

1 document

Press Releases

• EX-99.1 EXHIBIT 99.1 11.3 KB