LONDON,
ON, Sept. 21, 2022 /PRNewswire/ - VersaBank
("VersaBank" or the "Bank") (TSX: VBNK; NASDAQ: VBNK), announced
today that the Toronto Stock Exchange ("TSX") has approved an
amendment to the Bank's existing/current Normal Course Issuer Bid
("NCIB") for its common shares announced on August 15, 2022 to expand purchases for
cancellation to the Nasdaq Global Select Market (the "Nasdaq").
Under the revised NCIB, the Bank will be permitted to purchase
for cancellation on the open market through the facilities of the
TSX and the Nasdaq, or through alternate trading systems. All
other terms and conditions of the NCIB will remain as previously
announced. Expanding purchases to the Nasdaq will further the
Bank's capacity to utilize excess capital and fund significant
growth opportunities.
ABOUT VERSABANK
VersaBank is a Canadian Schedule I chartered bank with a
difference. VersaBank became the world's first fully digital
financial institution when it adopted its highly efficient
business-to-business model using its proprietary state-of-the-art
financial technology to profitably address underserved segments of
the Canadian banking market in the pursuit of superior net interest
margins while mitigating risk. VersaBank obtains all of its
deposits and provides the majority of its loans and leases
electronically, with innovative deposit and lending solutions for
financial intermediaries that allow them to excel in their core
businesses. In addition, leveraging its internally developed IT
security software and capabilities, VersaBank established wholly
owned, Washington, DC-based
subsidiary, DRT Cyber Inc. to pursue significant large-market
opportunities in cyber security and develop innovative solutions to
address the rapidly growing volume of cyber threats challenging
financial institutions, multi-national corporations and government
entities on a daily basis.
VersaBank's Common Shares trade on the TSX and on Nasdaq under
the symbol VBNK. Its Series 1 Preferred Shares trade on the TSX
under the symbol VB.PR.A.
Visit our website at: www.versabank.com
Follow VersaBank on Facebook, Instagram, LinkedIn and
Twitter.
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SOURCE VersaBank
