VersaBank Expands with Stearns Bank Acquisition

Versabank (TSE:VBNK) has released an update.

VersaBank has reported its fiscal 2024 results showcasing the resilience of its business model, despite lower earnings due to the acquisition of Stearns Bank Holdingford. The acquisition, which involved significant one-time costs and a strategic capital allocation, aims to bolster VersaBank’s presence in the U.S. market, emphasizing its commitment to expand digital banking solutions.

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