VersaBank Appoints Tammie Ashton as Associate Chief Risk Officer

VersaBank (the “Bank”) today announced that Tammie Ashton has been appointed to the position of Associate Chief Risk Officer and will commence employment on May 1, 2020. Ms. Ashton brings a wealth of knowledge and experience in the risk management and legal fields to the Bank's executive team.

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Ms. Ashton has held Chief Risk Officer, Chief Compliance Officer and Counsel and Corporate Secretary positions at another financial institution and has many years of experience as Corporate Counsel with other companies. She holds a BA degree from the University of Western Ontario and an LLB from the University of Ottawa.

David Taylor, President & CEO of the Bank, stated: "VersaBank prides itself on its ability to generate industry leading net interest margins for our shareholders while taking on below average risk. I am pleased to welcome Tammie to our executive team. Her extensive risk management, corporate counsel and compliance experience will no doubt prove invaluable in ensuring VersaBank remains at the forefront of applying our proprietary technology to develop innovative solutions for unmet banking needs, and continuing to do so in a prudent, risk-averse manner.”

About VersaBank

VersaBank adopted an electronic B2B branchless model in 1993, becoming the world’s first branchless financial institution. It holds a Canadian Schedule I chartered bank license and obtains its deposits, and the majority of its loans and leases, electronically. VersaBank’s Common Shares trade on the Toronto Stock Exchange under the symbol VB and its Series 1 Preferred Shares and Series 3 Preferred Shares trade under the symbols VB.PR.A and VB.PR.B, respectively.

The Bank is proud to announce it will celebrate 40 years in business in May 2020.

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Wade MacBain, Investor Relations, 1 (800) 244-1509, [email protected]
VersaBank’s website: www.versabank.com