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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 RECEIVES FINAL U.S. APPROVAL FOR U.S. BANK ACQUISITON
– Acquisition Will Enable VersaBank to Broadly Launch its Unique and Highly Successful Receivable Purchase Program Financing Solution in the United States – LONDON, ON , June 14, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business...
VersaBank (VBNK) Gets Fed Nod for Stearns Bank Holdingford Deal
VersaBank (VBNK) gets the Fed's approval to acquire Stearns Bank Holdingford. The deal will enable the company to broadly introduce its Receivable Purchase Program (RPP) in the United States.
VERSABANK RECEIVES FIRST OF TWO U.S. APPROVALS FOR U.S. BANK ACQUISITION
– Acquisition Would Enable VersaBank to Broadly Launch its Unique and Highly Successful Receivable Purchase Program Financing Solution in the United States – LONDON, ON , June 7, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business...
VersaBank (VBNK) Q2 2024 Earnings Call Transcript
Start Time: 09:00 January 1, 0000 9:35 AM ET VersaBank (NASDAQ:VBNK ) Q2 2024 Earnings Conference Call June 05, 2024, 09:00 AM ET Company Participants David Taylor - President and CEO John Asma - CFO Conference Call Participants David Feaster...
VersaBank (VBNK) Meets Q2 Earnings Estimates
VersaBank (VBNK) came out with quarterly earnings of $0.33 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.28 per share a year ago.
VERSABANK REPORTS SECOND QUARTER FISCAL 2024 RESULTS: 18% YEAR-OVER-YEAR GROWTH IN THE BANK'S LOAN PORTFOLIO AND EPS
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 second quarter 2024 ("Q2 2024") unaudited Interim Consolidated Financial Statements for...
VERSABANK DECLARES DIVIDENDS
LONDON, ON , June 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 TO PARTICIPATE IN MICROCAP RODEO CONFERENCE JUNE 6, 2024 IN NEW YORK CITY
LONDON, ON , June 3, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) today announced management will participate in the MicroCap Rodeo Conference to be held Thursday, June 6, 2024 in New York City. David Taylor,...
VERSABANK TO HOST SECOND QUARTER FISCAL 2024 FINANCIAL RESULTS CONFERENCE CALL/WEBCAST WEDNESDAY, JUNE 5, 2024 at 9:00 A.M. ET
Bank to Report Second Quarter Fiscal 2024 Results Wednesday, June 5, 2024 at 7:00 a.m. ET LONDON, ON , May 22, 2024 /PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VBNK) (NASDAQ: VBNK) will report its second quarter 2024 financial...
VERSABANK ANNOUNCES THE RESULTS OF ITS 2024 MEETING OF SHAREHOLDERS
LONDON, ON, April 18, 2024 /PRNewswire/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK) ("VersaBank" or the "Bank") reports the results of its 2024 Annual and Special Meeting of Shareholders (the "Meeting") held in London, Ontario on April 17, 2024. Each of...
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