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VersaBank revenue jumps to $38.8 million
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VersaBank revenue jumps to $38.8 million

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  • VersaBank (NASDAQ:VBNK) reported third quarter 2026 revenue of $38.8 million, up 23% year over year.
  • Net income increased 53% to $10.1 million, while total assets grew 26% to $6.88 billion.
  • The bank plans at least US$3 billion in new U.S. Structured Receivable Program fundings in fiscal 2027.

VersaBank (NASDAQ:VBNK) reported third quarter 2026 results with revenue increasing 23% year over year to $38.8 million, supported by growth in its U.S. Structured Receivable Program and digital banking operations.

The bank’s net income increased to $10.1 million from the prior-year period, while adjusted core net income reached $12.3 million, up 27% year over year.

VersaBank reported that total assets increased 26% year over year to $6.88 billion, with U.S. Structured Receivable Program assets reaching US$793 million at the end of the quarter.

The company recorded $3.1 million in non-core non-interest expenses mainly related to its proposed U.S. holding company reorganization and a software write-off, while CET1 and total capital ratios declined to 11.47% and 13.32%.

VersaBank stated that it is targeting at least US$3 billion in new U.S. Structured Receivable Program fundings in fiscal 2027 and plans broader artificial intelligence deployment to support operating efficiency.

The bank provides digital banking services and financing solutions, including structured receivable programs, with operations focused on technology-driven financial services.

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