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VersaBank (T:VB)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEDAR | |
| Company Contact | |
| Address: | 140 Fullarton St Suite 2002 LONDON ON N6A 5P2 |
| Tel: | 1-800-2441509 |
| Website: | https://www.versabank.com |
| IR: | See website |
| Key People | ||
| Thomas A. Hockin Independent Chairman of the Board | Scott Andrew Mizzen Vice President - Real Estate Finance | David R. Taylor President, Chief Executive Officer, Director |
| Maurizio Bevilacqua Vice Chairman of the Board | R. Shawn Clarke Chief Financial Officer, Chief Operating Officer | Nick Kristo Senior Vice President - Credit, Chief Risk Officer |
| Jonathan F.P. Taylor Senior Vice President - Deposit Services & Human Resources | Maurice A Danis Senior Vice President - Structured & Corporate Finance | Ross P Duggan Senior Vice President - Lending | Stephanie Anne Francis Vice-President - Finance and Accounting |
| 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 six months ended 30 April 2020, VersaBank interest income increased 4% to C$44.9M. Net interest income after loan loss provision increased 3% to C$27.8M. Net income applicable to common stockholders increased 5% to C$9.2M. Net interest income after loan loss provision reflects Interest Income - Loans increase of 4% to C$43.2M, Cash and securities increase of 6% to C$1.6M. |
| Employees: | 92 as of Oct 31, 2019 |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $174.15M as of Apr 30, 2020 |
| Annual revenue (TTM): | $90.08M as of Apr 30, 2020 |
| EBITDA (TTM): | $29.89M as of Apr 30, 2020 |
| Net annual income (TTM): | $18.47M as of Apr 30, 2020 |
| Free cash flow (TTM): | $234.57M as of Apr 30, 2020 |
| Net Debt Last Fiscal Year: | N/A |
| Shares outstanding: | 21,123,559 as of Apr 30, 2020 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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