VersaBank Receives Canadian Finance Minister Approval for Reorganization

VersaBank (TSX:VBNK, NASDAQ:VBNK) received approval from Canada's Finance Minister for its U.S. reorganization plan, pending Federal Reserve approval. The restructuring aims to establish Versa Bancorp as the bank's direct holding company by October 2026. The company operates in digital B2B banking and cybersecurity.

VersaBank (VBNK) reported Q3 2026 earnings with total revenue of CAD 38.8 million, up 23% YoY, and net income of CAD 10.1 million, up 53% YoY. Growth was driven by the U.S. Structured Receivable Program (SRP), which contributed nearly 25% of digital banking revenue. Total assets reached CAD 7.2 billion, and the company aims for significant growth in FY 2027, including a target of US$3 billion in U.S. SRP fundings.

VersaBank reported Q3 2026 earnings with record assets of $7.2 billion. Net interest margin decreased to 2.44%, and non-core costs totaled $4.6 million. The CET1 ratio fell to 11.5%. Management targets $3 billion in U.S. fundings for 2027, with half from existing partners. The AI-enabled real-time SRP program is driving demand. Divestiture of DRTC cybersecurity business extended to August 2027. Core noninterest expenses are expected to remain stable. The bank aims for 20% ROE at $10 billion in a

VersaBank (VBNK) furnished an SEC Form 6-K — earnings release. Exhibit 99.3 FOR IMMEDIATE RELEASE: September 3, 2026 VERSABANK REPORTS STRONG THIRD QUARTER RESULTS: ACCELERATING US SRP GROWTH DRIVES 23% YEAR-OVER-YEAR INCREASE IN REVENUE, 53% GROWTH IN NET INCOME AND 27% GROWTH IN ADJUSTED (CORE) NET INCOME AS IT CONTINUES TO BENEFIT FROM OP

VersaBank (TSX: VBNK, NASDAQ: VBNK) said its Form S-4 registration statement for a proposed reorganization was declared effective by the SEC. The plan would make Versa Bancorp, a new Delaware holding company, the direct parent of VersaBank and VersaBank USA National Association. Shareholders will vote Sept. 16, 2026, subject to regulatory approvals.

VersaBank (TSX: VBNK, NASDAQ: VBNK) said its US subsidiary will work with a wholly owned ECN Capital subsidiary to use VersaBank’s US Structured Receivable Program. ECN is expected to add at least US$300 million in annual SRP fundings, with initial funding in coming weeks. VersaBank and ECN expect growth beyond US$500 million per year.