Q1 2026 Versabank Earnings Call Transcript

Mar 4, 2026 / 02:00 PM GMT

Release Date Price: €15.1 (+7.86%)

Transcript

Key Points

Positve

VersaBank (VBNK) reported a record growth in credit assets and revenue, with credit assets up 23% and revenue up 31% year over year.
The bank's US operations have surpassed Canadian operations in efficiency, benefiting from less expensive deposit funding and a smaller team.
VersaBank (VBNK) achieved a significant milestone by surpassing its 2025 target for the US structured receivable program, completing over $200 million in additional fundings in Q1.
The bank's net interest margin on credit assets increased by 28 basis points year over year, indicating improved profitability.
VersaBank (VBNK) is on track to achieve its target of adding at least $1 billion in funding for fiscal 2026, with strong momentum in its US structured receivable program.

Negative

The bank incurred $1.5 million in costs related to its reorganization to a US bank framework, with expectations of additional costs in the coming quarters.
VersaBank (VBNK) is experiencing higher than typical levels of liquidity, which dampens overall net interest margin.
The cybersecurity component of DRTC generated a net loss of $630,000 due to higher operating expenses.
The bank's multi-family residential loans and other portfolio decreased by 1% year over year and 8% sequentially.
VersaBank (VBNK) anticipates incurring additional costs of $4 to $4.5 million in the second quarter related to its reorganization efforts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

VBNK.TO - VersaBank
Q1 2026 Versabank Earnings Call
Mar 04, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen. Welcome to Versa Bank's first quarter fiscal 2026 financial results conference call. This morning, Versa Bank issued a news release reporting its financial results for the first quarter ended January 31, 2026. That news release, along with the bank's financial statements, MD&A, and supplemental financial information are available on the bank's website in the investor relations section, as well as on Cedar Plus and Edgar.

Please note that in addition to the telephone dial-in, Versa Bank is webcasting this morning's conference call. The webcast is listen-only. If you are listening to the webcast but wish to ask a question in the Q&A session following Mr. Taylor's presentation, please dial into the

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