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Sector:  Financials Industry:  Banks
See Regulatory Filings on SEDAR
Company Contact
Address: 140 Fullarton St Suite 2002
Tel: N/A
IR: See website
Key People
Thomas A. Hockin
Independent Chairman of the Board
David R. Taylor
President, Chief Executive Officer, Director
R. Shawn Clarke
Chief Financial Officer, Corporate Secretary
Jonathan F.P. Taylor
Chief Human Resource Officer, Senior Vice President - Deposits
Michael Richard Dixon
Senior Vice President- ECommerce
Ross P. Duggan
Senior Vice President - Commercial Lending
Aly Lalani
Chief Risk Officer, Treasurer
Nick Kristo
Chief Credit Officer
Business Overview
VersaBank, formerly Pacific & Western Bank of Canada (the Bank,) is a Canada-based chartered bank, which operates using an electronic branchless model. It sources deposits, consumer loans, commercial loans and leases electronically. The Bank also makes residential development and commercial mortgages as its sources through a network of brokers and direct contact with its lending staff. It operates through Banking segment. The Bank provides financing in the form of commercial and consumer loans, and lease receivables sourced through the Bank's bulk purchase program. It also finances real estate developers in Southwestern Ontario and provides consumer lending through its private label credit card program. Its loan portfolio includes residential multi-family mortgages, commercial and consumer loans and leases, commercial mortgages, government financings and credit card receivables. Its commercial and consumer loans, and leases consist of commercial loans to investment grade corporations.
Financial Overview
For the three months ended 31 January 2021,VersaBank interest income decreased 3% to C$21.5M. Netinterest income after loan loss provision increased 4% toC$14.3M. Net income applicable to common stockholdersincreased 3% to C$4.7M. Net interest income after loan lossprovision reflects increase in interest earning assets anddecrease in interest bearing liabilities.
Employees: 92 as of Oct 31, 2019
Reporting Currency: Canadian Dollars
Enterprise value: $207.03M as of Jan 31, 2021
Annual revenue (TTM): $85.44M as of Jan 31, 2021
EBITDA (TTM): $28.77M as of Jan 31, 2021
Net annual income (TTM): $17.39M as of Jan 31, 2021
Free cash flow (TTM): $121.70M as of Jan 31, 2021
Net Debt Last Fiscal Year: N/A
Shares outstanding: 21,123,559 as of Jan 31, 2021
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization