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Versabank ( (TSE:VBNK) ) has shared an announcement.
VersaBank has completed a successful public offering of common shares, raising gross proceeds of approximately US$75 million. The proceeds are intended for general banking purposes and to qualify as Common Equity Tier 1 capital, potentially strengthening the bank’s financial position and supporting its operations in the digital banking sector.
More about Versabank
VersaBank is a North American bank, federally chartered in Canada and the United States, known for its branchless, digital, business-to-business model that leverages proprietary technology to serve underserved banking segments. It benefits from significant operating leverage by obtaining deposits and conducting lending electronically through financial intermediaries. VersaBank also launched a Receivable Purchase Program for point-of-sale finance companies in the U.S. and owns DRT Cyber Inc., a leader in cybersecurity services.
YTD Price Performance: 25.11%
Average Trading Volume: 75,920
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $353.7M
For an in-depth examination of VBNK stock, go to TipRanks’ Stock Analysis page.
