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: | N/A |
| Website: | https://www.versabank.com |
| 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 | |
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