LONDON, ON, Nov. 12, 2021
/PRNewswire/ - VersaBank ("VersaBank" or the "Bank") (TSX: VB)
(NASDAQ: VBNK), a leader in digital banking and cyber security
solutions, today announced that David
Taylor, President and Chief Executive Officer, will present
(virtually) at the Investor Summit Q4 Conference on Wednesday, November 17, 2021 at 9:30 a.m. ET. A webcast of the presentation
will be available in the investor relations section of VersaBank's
website at www.versabank.com on the "Quarterly Info, Events
and Presentations" page. A replay of the presentation
will be available on the same page of the web site following the
event.
VersaBank will also be participating in virtual one-on-one
meetings at the Conference. Institutional investors
interested in scheduling a one-on-one meeting should contact
Sasha Murray at
sasha@investorsummit.com or Lawrence Chamberlain at
lawrence.chamberlain@loderockadvisors.com.
In his presentation, Mr. Taylor will discuss VersaBank's highly
efficient, low-risk digital banking operations, which have
generated a compounded annual growth rate in net income of 23% over
the past six years based on the Bank's development and application
of its proprietary software to address unmet needs in the banking
industry. VersaBank's digital banking operations are poised for
continued outsized growth as its existing lending channels
experience a significant increase in origination activity,
including the launch of its third lending channel based on its
proven software, which will enable it to enter the $200 billion Canadian home financing market, and
plans to bring its highly successful Point of Sale financing model
to the 1.8 trillion U.S. market. The Bank is also well positioned
to continue to grow its low-cost deposits, including through its
new, highly-encrypted digital deposit receipt, VCAD, which could
function as an A-rated Bank-issued stablecoin, represented 1:1 by
Canadian dollar deposits with VersaBank.
Mr. Taylor will also discuss the significant growth opportunity
for VersaBank's wholly-owned, Washington,
DC-based subsidiary, DRT Cyber, Inc. DRT Cyber's
VersaVault is the world's first digital bank vault for securing
cryptocurrency, blockchain-based assets and highly sensitive
digital documents. Recently, DRT Cyber acquired North
American IT security assurances services leader, Digital Boundary
Group, as it builds a comprehensive suite of innovative cyber
security solutions that address high-demand, underserved segments
of this rapidly growing market. DRT Cyber's Chief Operating
Officer, Gurpreet Sahota, previously
spent 16 years at BlackBerry, where he helped build and implement
its industry-leading cyber security architecture. DRT is chaired by
the Honorable Tom Ridge, the first US Secretary of Homeland
Security.
ABOUT VERSABANK
VersaBank is a Canadian Schedule I chartered bank with a
difference. VersaBank became the world's first fully digital
financial institution when it adopted its highly efficient
business-to-business model using its proprietary state-of-the-art
financial technology to profitably address underserved segments of
the Canadian banking market in the pursuit of superior net interest
margins while mitigating risk. VersaBank obtains all of its
deposits and provides the majority of its loans and leases
electronically, with innovative deposit and lending solutions for
financial intermediaries that allow them to excel in their core
businesses. In addition, leveraging its internally developed IT
security software and capabilities, VersaBank established wholly
owned, Washington, DC-based
subsidiary, DRT Cyber Inc. to pursue significant large-market
opportunities in cyber security and develop innovative solutions to
address the rapidly growing volume of cyber threats challenging
financial institutions, multi-national corporations and government
entities on a daily basis.
VersaBank's Common Shares trade on the Toronto Stock Exchange
under the symbol VB and Nasdaq under the symbol VBNK. Its Series 1
Preferred Shares trade on the Toronto Stock Exchange under the
symbol VB.PR.A.
Visit our website at: www.versabank.com
Follow VersaBank on Facebook, Instagram, LinkedIn and
Twitter.
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SOURCE VersaBank