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Sector:  Financials Industry:  Banks
See Regulatory Filings on SEDAR
Company Contact
Address: 140 Fullarton St Suite 2002
Tel: 1-800-2441509
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