VersaBank Expands U.S. Presence with Acquisition

Versabank (TSE:VBNK) has released an update.

VersaBank, a pioneering digital financial institution, has secured Canadian regulatory approval for its acquisition of Stearns Bank Holdingford, with the transaction set to finalize on August 30, 2024. This strategic move aims to expand VersaBank’s successful Receivable Purchase Program into the United States, capitalizing on the significant market demand. As VersaBank prepares to launch its digital funding solution in the U.S., the bank continues to demonstrate robust growth in its RPP portfolio, evidencing its strong performance and potential for further expansion.

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