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Complete financial analysis of VersaBank (VBNK) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of VersaBank, a leading company in the Banks – Regional industry within the Financial Services sector.
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VersaBank (VBNK)
About VersaBank
VersaBank, a schedule I chartered bank, provides various banking products and services in Canada. The company offers deposit products, such as guaranteed investment certificates, registered retirement savings plans, daily interest savings accounts, and tax-free savings accounts, as well as deposit insurance products. It also provides lending services, including point of sale financing that involves purchasing loan and lease receivables from finance companies operating in various industries; and commercial banking services comprising commercial real estate, public sector/infrastructure financing, condominium financing, and residential mortgages. The company was formerly known as Pacific & Western Bank of Canada and changed its name to VersaBank in May 2016. VersaBank was incorporated in 1979 and is headquartered in London, Canada.
| Metric | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 111.63M | 108.64M | 82.39M | 65.36M | 54.19M | 53.92M | 51.69M | 43.84M | 39.68M | 35.37M | 30.51M | 27.98M | 32.90M | 29.23M |
| Cost of Revenue | 0.00 | -609.00K | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 111.63M | 109.24M | 82.39M | 65.36M | 54.19M | 53.92M | 51.69M | 43.84M | 39.68M | 35.37M | 30.51M | 27.98M | 32.90M | 29.23M |
| Gross Profit Ratio | 100.00% | 100.56% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 51.95M | 15.05M | 45.53M | 31.35M | 25.32M | 23.97M | 24.03M | 25.06M | 23.57M | 22.69M | 20.86M | 20.68M | 21.82M | 15.62M |
| Selling & Marketing | 0.00 | 35.33M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 298.00K | 482.00K | 447.00K | 434.00K | 0.00 |
| SG&A | 51.95M | 50.38M | 45.53M | 31.35M | 25.32M | 23.97M | 24.03M | 25.06M | 23.57M | 22.69M | 20.86M | 20.68M | 21.82M | 15.62M |
| Other Expenses | 59.68M | 0.00 | -45.22M | -65.92M | -52.75M | -50.06M | -21.29M | -10.85M | -8.71M | 0.00 | 0.00 | 0.00 | 0.00 | -33.66M |
| Operating Expenses | 111.63M | 50.38M | 307.00K | -34.57M | -27.43M | -26.10M | 2.74M | 10.85M | 8.71M | 24.78M | 23.38M | 24.95M | 24.34M | -18.04M |
| Cost & Expenses | 111.63M | 50.38M | 307.00K | -34.57M | -27.43M | -26.10M | 2.74M | 54.85M | 58.09M | 24.78M | 23.38M | 24.95M | 24.34M | -18.04M |
| Interest Income | 285.42M | 229.33M | 76.67M | 89.49M | 86.09M | 88.31M | 80.91M | 71.77M | 69.66M | 64.46M | 58.16M | 60.92M | 60.90M | 56.10M |
| Interest Expense | 182.76M | 129.28M | 50.15M | 29.33M | 31.97M | 34.41M | 29.42M | 27.78M | 31.26M | 30.48M | 30.29M | 35.27M | 41.29M | 39.18M |
| Depreciation & Amortization | 2.63M | 1.78M | 1.94M | 1.73M | 1.15M | 721.00K | 623.00K | 553.00K | 776.00K | 393.00K | 396.00K | 494.00K | 699.00K | 0.00 |
| EBITDA | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 11.19M |
| EBITDA Ratio | 0.00% | 0.00% | 102.72% | 49.75% | 51.49% | 52.93% | 106.51% | 34.86% | 31.59% | 26.67% | 21.64% | 10.72% | 24.60% | 38.28% |
| Operating Income | 0.00 | 57.65M | 82.70M | 30.79M | 26.75M | 27.82M | 54.43M | 14.73M | 11.76M | 9.04M | 6.21M | 2.51M | 8.09M | 11.19M |
| Operating Income Ratio | 0.00% | 53.06% | 100.37% | 47.11% | 49.37% | 51.60% | 105.31% | 33.60% | 29.63% | 25.56% | 20.35% | 8.95% | 24.60% | 38.28% |
| Total Other Income/Expenses | 54.79M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -2.05M | -1.09M | 0.00 | -434.00K | -2.06M | 1.00 | -36.09M |
| Income Before Tax | 54.79M | 57.65M | 32.55M | 30.79M | 26.75M | 27.82M | 25.01M | 14.73M | 11.76M | 9.04M | 6.21M | 2.51M | 8.09M | 11.19M |
| Income Before Tax Ratio | 49.08% | 53.06% | 39.50% | 47.11% | 49.37% | 51.60% | 48.40% | 33.60% | 29.63% | 25.56% | 20.35% | 8.95% | 24.60% | 38.28% |
| Income Tax Expense | 15.05M | 15.48M | 9.89M | 8.41M | 7.35M | 7.63M | 6.94M | -4.74M | 3.29M | 821.00K | 531.00K | 741.00K | 4.27M | 3.62M |
| Net Income | 39.75M | 42.16M | 22.66M | 22.38M | 19.41M | 20.20M | 18.07M | 19.47M | 8.47M | 8.22M | 5.68M | 1.76M | 3.82M | 7.57M |
| Net Income Ratio | 35.61% | 38.81% | 27.50% | 34.24% | 35.81% | 37.46% | 34.97% | 44.41% | 21.35% | 23.24% | 18.61% | 6.31% | 11.62% | 25.90% |
| EPS | 1.44 | 1.53 | 0.79 | 0.96 | 0.82 | 0.85 | 0.86 | 0.83 | 0.32 | 0.33 | 0.29 | 0.11 | 0.24 | 0.48 |
| EPS Diluted | 1.49 | 1.57 | 0.79 | 0.96 | 0.82 | 0.85 | 0.86 | 0.83 | 0.32 | 0.33 | 0.29 | 0.11 | 0.24 | 0.48 |
| Weighted Avg Shares Out | 26.96M | 26.90M | 27.43M | 21.75M | 21.12M | 21.12M | 21.12M | 20.86M | 19.86M | 19.44M | 19.44M | 16.57M | 15.83M | 15.83M |
| Weighted Avg Shares Out (Dil) | 25.96M | 26.27M | 27.43M | 21.75M | 21.12M | 21.12M | 21.12M | 20.86M | 19.86M | 19.44M | 19.44M | 16.57M | 15.83M | 15.83M |
VERSABANK REPORTS THIRD QUARTER FISCAL 2024 RESULTS: RESULTS CONTINUE TO DEMONSTRATE STRENGTH OF BUSINESS MODEL AS BANK ENTERS US MARKET
All amounts are unaudited and in Canadian dollars and are based on financial statements prepared in compliance with International Accounting Standard 34 Interim Financial Reporting, unless otherwise noted. Our third quarter 2024 ("Q3 2024") unaudited Interim Consolidated Financial Statements for...
VERSABANK DECLARES DIVIDENDS
LONDON, ON , Sept. 5, 2024 /PRNewswire/ - VersaBank (the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced that cash dividends in the amount of CAD $0.025 per Common Share of the Bank and CAD $0.1693 per Series 1 Preferred Share...
VersaBank Stock Hits 52-Week High on Acquisition of Stearns Bank
VBNK hits a 52-week high following its buyout of SBH and the launch of RPP, a digital funding solution that provides lending to individuals and small companies.
VERSABANK CLOSES U.S. BANK ACQUISITION: FORMALLY LAUNCHES INNOVATIVE DIGITAL FUNDING SOLUTION TO UNDERSERVED, MULTI-TRILLION-DOLLAR U.S. MARKET
LONDON, ON , Sept. 3, 2024 /PRNewswire/ - 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 that, on August 30, 2024, it closed...
VERSABANK TO HOST THIRD QUARTER FISCAL 2024 FINANCIAL RESULTS CONFERENCE CALL/WEBCAST THURSDAY, SEPTEMBER 5, 2024 at 9:00 A.M. ET
Bank to Report Third Quarter Fiscal 2024 Results Thursday, September 5, 2024 at 7:00 a.m. ET LONDON, ON , Aug. 21, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) will report its third quarter 2024 financial...
VERSABANK TO PRESENT AT TWO VIRTUAL INVESTOR CONFERENCES ON AUGUST 20, 2024
LONDON, ON , Aug. 16, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced David Taylor, President and Chief Executive Officer, will present at the following virtual investor conferences on Tuesday, August 20, 2024: The...
VERSABANK TO PARTICIPATE IN 25th ANNUAL KBW COMMUNITY BANK INVESTOR CONFERENCE JULY 30-31, 2024 IN NEW YORK CITY
LONDON, ON , July 25, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced management will participate in the 25th Annual KBW Community Bank Investor Conference to be held July 30-31, 2024 in New York...
VERSABANK APPOINTS SENIOR EXECUTIVES TO U.S. SUBSIDIARY AHEAD OF U.S. BANK ACQUISITION
LONDON, ON , July 15, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) ( NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced the appointments of four senior executives to its newly...
VERSABANK RECEIVES CANADIAN REGULATORY APPROVAL FOR U.S. BANK ACQUISITON: TRANSACTION TARGETED TO CLOSE AUGUST 30, 2024
– Acquisition Will Enable VersaBank to Broadly Launch its Unique and Highly Successful Receivable Purchase Program (RPP) Financing Solution in the United States – LONDON, ON , June 25, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader...
VERSABANK ANNOUNCES APPOINTMENT OF LONG STANDING CANADIAN FEDERAL OFFICIAL GLENN CAMPBELL AS ADVISOR TO BOARD
LONDON, ON , June 17, 2024 /PRNewswire/ - VersaBank (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 appointed Glenn Campbell as Advisor to its Board of Directors....
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