NASDAQ : VBNK
VersaBank — Financial statements
Financials · Banks - Regional · Canada
Last price 21.96 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 716.10M
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Financial statements
Income statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 308.60M | 273.53M | 264.88M | 215.69M | 123.19M | 88.06M |
| Interest Income on Investments | 22.88M | 22.15M | 20.54M | 13.65M | 3.63M | 1.43M |
| Total Interest Income | 331.48M | 295.68M | 285.42M | 229.33M | 126.82M | 89.49M |
| Interest Paid on Deposits | 186.79M | 174.01M | 177.09M | 123.49M | 44.60M | 26.45M |
| Interest Paid on Borrowings | 5.73M | 5.50M | 5.67M | 5.79M | 5.55M | 2.88M |
| Total Interest Expense | 192.52M | 179.51M | 182.76M | 129.28M | 50.15M | 29.33M |
| Net Interest Income | 138.97M | 116.17M | 102.66M | 100.05M | 76.67M | 60.16M |
| Other Non-Interest Income | 9.74M | 8.47M | 8.98M | 8.58M | 5.73M | 5.20M |
| Total Non-Interest Income | 9.74M | 8.47M | 8.98M | 8.58M | 5.73M | 5.20M |
| Revenues Before Loan Losses | 148.71M | 124.64M | 111.63M | 108.64M | 82.39M | 65.36M |
| Provision for Loan Losses | 2.22M | 4.41M | -268.00K | 609.00K | 451.00K | -438.00K |
| Revenue | 146.49M | 120.23M | 111.90M | 108.03M | 81.94M | 65.80M |
| Salaries and Employee Benefits | 43.77M | 37.90M | 32.44M | 30.53M | 25.33M | 20.24M |
| Occupancy Expenses | 8.01M | 7.02M | 5.16M | 3.90M | 3.87M | 3.65M |
| Selling, General & Administrative | 45.29M | 33.81M | 19.52M | 15.95M | 20.20M | 11.11M |
| Total Non-Interest Expense | 97.06M | 78.73M | 57.11M | 50.38M | 49.39M | 35.01M |
| EBT Excluding Unusual Items | 49.42M | 41.49M | 54.79M | 57.65M | 32.55M | 30.79M |
| Pretax Income | 49.42M | 41.49M | 54.79M | 57.65M | 32.55M | 30.79M |
| Income Tax Expense | 15.57M | 13.04M | 15.04M | 15.48M | 9.89M | 8.41M |
| Net Income | 33.86M | 28.46M | 39.75M | 42.16M | 22.66M | 22.38M |
| Preferred Dividends & Other Adjustments | 988.00K | 988.00K | 988.00K | 1.58M | ||
| Net Income to Common | 33.86M | 28.46M | 38.76M | 41.17M | 21.67M | 20.80M |
| Basic Shares Outstanding | 32.11M | 31.51M | 25.97M | 26.27M | 27.43M | 21.75M |
| Diluted Shares Outstanding | 32.11M | 31.51M | 25.97M | 26.27M | 27.43M | 21.75M |
| EPS (Basic) | 1.05 | 0.90 | 1.49 | 1.57 | 0.79 | 0.96 |
| EPS (Diluted) | 1.05 | 0.90 | 1.49 | 1.57 | 0.79 | 0.96 |
| Dividend Per Share | 0.03 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 |
| Effective Tax Rate | 31.50% | 31.41% | 27.46% | 26.86% | 30.39% | 27.31% |
Balance sheet
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 490.05M | 581.71M | 225.25M | 132.24M | 88.58M | 271.52M |
| Investment Securities | 134.18M | 81.88M | 300.25M | 168.89M | 142.52M | 953.00K |
| Trading Asset Securities | 2.27M | 20.00K | 1.52M | |||
| Total Investments | 136.44M | 81.88M | 300.27M | 170.41M | 142.52M | 953.00K |
| Gross Loans | 6.14B | 5.05B | 4.22B | 3.83B | 2.98B | 2.10B |
| Allowance for Loan Losses | -8.11M | -7.28M | -3.30M | -2.51M | -1.90M | -1.45M |
| Net Loans | 6.13B | 5.04B | 4.21B | 3.83B | 2.98B | 2.09B |
| Property, Plant & Equipment | 31.45M | 26.36M | 26.62M | 9.96M | 10.99M | 11.89M |
| Goodwill | 12.30M | 12.30M | 12.30M | 5.75M | 5.75M | 5.75M |
| Other Intangible Assets | 7.39M | 10.56M | 12.05M | 2.79M | 3.19M | 3.64M |
| Accrued Interest Receivable | 28.22M | 23.42M | 21.78M | 20.68M | 14.70M | 8.20M |
| Other Receivables | 7.76M | 7.37M | 10.72M | 3.86M | 3.77M | 2.64M |
| Other Current Assets | 23.72M | 17.88M | 14.40M | 22.13M | 16.39M | 12.70M |
| Long-Term Deferred Tax Assets | 4.59M | 4.04M | 750.00K | 4.06M | 2.13M | 2.93M |
| Total Assets | 6.88B | 5.81B | 4.84B | 4.20B | 3.27B | 2.42B |
| Accounts Payable | 9.08M | 12.52M | 10.75M | 9.68M | 7.66M | 6.89M |
| Interest Bearing Deposits | 5.91B | 4.79B | 4.14B | 3.46B | 2.66B | 1.85B |
| Total Deposits | 5.91B | 4.79B | 4.14B | 3.46B | 2.66B | 1.85B |
| Short-Term Borrowings | 416.00K | |||||
| Current Portion of Leases | 611.00K | |||||
| Current Income Taxes Payable | 2.56M | 126.00K | 893.00K | 7.47M | 5.80M | 2.95M |
| Accrued Interest Payable | 69.30M | 76.95M | ||||
| Other Current Liabilities | 275.95M | 290.67M | 171.21M | 153.77M | 126.11M | 110.76M |
| Long-Term Debt | 103.79M | 103.52M | 102.50M | 106.85M | 104.95M | 95.27M |
| Long-Term Leases | 3.45M | 2.06M | 3.04M | 3.77M | 4.47M | 5.11M |
| Long-Term Deferred Tax Liabilities | 16.00K | 33.00K | 141.00K | 731.00K | 786.00K | 898.00K |
| Other Long-Term Liabilities | 4.96M | 5.00M | 6.08M | 8.82M | 8.01M | 7.89M |
| Total Liabilities | 6.31B | 5.28B | 4.44B | 3.82B | 2.92B | 2.08B |
| Preferred Stock, Convertible | 13.65M | |||||
| Common Stock | 334.90M | 325.91M | 215.61M | 214.82M | 239.63M | 241.32M |
| Additional Paid-In Capital | 1.02M | 2.47M | 2.48M | 2.51M | 1.61M | 145.00K |
| Retained Earnings | 229.97M | 203.73M | 181.24M | 146.04M | 109.33M | 90.64M |
| Comprehensive Income & Other | -330.00K | 562.00K | -130.00K | 131.00K | 99.00K | -4.00K |
| Total Common Equity | 565.57M | 532.67M | 399.20M | 363.51M | 350.68M | 332.11M |
| Shareholders' Equity | 565.57M | 532.67M | 399.20M | 377.16M | 350.68M | 332.11M |
| Total Liabilities & Equity | 6.88B | 5.81B | 4.84B | 4.20B | 3.27B | 2.42B |
| Total Debt | 107.24M | 106.60M | 105.54M | 110.62M | 109.42M | 100.39M |
| Net Cash (Debt) | 385.07M | 475.11M | 119.74M | 23.14M | -20.84M | 171.14M |
| Net Cash Per Share | 11.99 | 15.08 | 4.61 | 0.88 | -0.76 | 7.87 |
| Filing Date Shares Outstanding | 32.42M | 31.95M | 26.00M | 25.96M | 27.23M | 27.44M |
| Total Common Shares Outstanding | 32.42M | 31.95M | 26.00M | 25.96M | 27.25M | 27.44M |
| Book Value Per Share | 17.45 | 16.67 | 15.35 | 14.00 | 12.87 | 12.10 |
| Tangible Book Value | 545.88M | 509.81M | 374.85M | 354.97M | 341.74M | 322.71M |
| Tangible Book Value Per Share | 16.84 | 15.96 | 14.42 | 13.67 | 12.54 | 11.76 |
Cash flow statement
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 33.86M | 28.46M | 39.75M | 42.16M | 22.66M | 22.38M |
| Depreciation & Amortization | 4.02M | 3.10M | 2.63M | 1.78M | 1.94M | 1.73M |
| Gain (Loss) on Sale of Investments | -1.53M | -150.00K | -373.00K | -155.00K | -533.00K | |
| Total Asset Writedown | 2.26M | 415.00K | ||||
| Provision for Credit Losses | 2.22M | 4.41M | -268.00K | 609.00K | 451.00K | -322.00K |
| Change in Other Net Operating Assets | -1.30B | -707.29M | -293.41M | -828.12M | -865.49M | -421.39M |
| Other Operating Activities | -4.53M | -8.00M | 337.00K | 36.98M | 16.49M | 2.19M |
| Operating Cash Flow | -1.27B | -679.39M | -250.57M | -745.85M | -823.02M | -395.41M |
| Capital Expenditures | -6.12M | -954.00K | -18.58M | -362.00K | -581.00K | -14.00K |
| Cash Acquisitions | -12.12M | -7.47M | ||||
| Investment in Securities | 35.60M | 218.53M | -126.89M | -27.78M | -141.03M | -953.00K |
| Other Investing Activities | -14.09M | -5.32M | ||||
| Investing Cash Flow | 15.39M | 212.26M | -157.58M | -28.14M | -141.61M | -8.44M |
| Long-Term Debt Issued | 89.50M | |||||
| Long-Term Debt Repaid | -367.00K | -5.74M | -700.00K | -642.00K | -10.66M | |
| Lease Payments | -762.00K | -367.00K | -736.00K | -700.00K | -642.00K | -621.00K |
| Net Debt Issued (Repaid) | -762.00K | -367.00K | -5.74M | -700.00K | -642.00K | 78.84M |
| Issuance of Common Stock | 8.11M | 114.77M | 607.00K | 280.00K | 73.23M | |
| Repurchase of Common Stock | -3.72M | -9.13M | -13.29M | -1.93M | ||
| Preferred Share Repurchases | -15.69M | |||||
| Common Dividends Paid | -3.21M | -3.23M | -2.60M | -2.61M | -2.74M | -2.27M |
| Preferred Dividends Paid | -988.00K | -988.00K | -988.00K | -1.58M | ||
| Total Dividends Paid | -3.21M | -3.23M | -3.59M | -3.60M | -3.73M | -3.85M |
| Net Increase (Decrease) in Deposit Accounts | 1.28B | 723.84M | 523.28M | 840.56M | 790.37M | 287.10M |
| Other Financing Activities | -14.62M | -1.12M | ||||
| Financing Cash Flow | 1.28B | 825.88M | 499.95M | 823.25M | 784.06M | 418.51M |
| Foreign Exchange Rate Adjustments | -2.08M | -2.30M | 1.22M | -5.60M | -2.38M | -779.00K |
| Net Cash Flow | 29.74M | 356.45M | 93.01M | 43.66M | -182.94M | 13.88M |
| Free Cash Flow | -1.27B | -680.35M | -269.15M | -746.21M | -823.60M | -395.42M |
| Free Cash Flow Margin | -869.75% | -565.88% | -240.53% | -690.77% | -1,005.11% | -600.99% |
| Free Cash Flow Per Share | -39.67 | -21.59 | -10.37 | -28.40 | -30.03 | -18.18 |
| Free Cash Flow After Leases | -1.27B | -680.71M | -269.89M | -746.91M | -824.24M | -396.04M |
| Cash Interest Paid | 193.78M | 186.92M | 167.66M | 93.79M | 35.96M | 30.80M |
| Cash Income Tax Paid | 11.88M | 14.43M | 19.72M | 15.95M | 6.28M | 1.39M |
Ratios
Fiscal year November - October; amounts in CAD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 716.10M | 384.25M | 390.00M | 193.68M | 186.94M | 327.12M |
| Last Close Price | 21.96 | 11.82 | 14.85 | 7.52 | 6.75 | 11.62 |
| PE Ratio | 29.17 | 18.92 | 14.02 | 6.53 | 11.76 | 19.50 |
| PS Ratio | 6.86 | 4.48 | 4.86 | 2.49 | 3.11 | 6.16 |
| PB Ratio | 1.78 | 1.01 | 1.36 | 0.71 | 0.73 | 1.22 |
| Debt / Equity Ratio | 0.19 | 0.20 | 0.26 | 0.29 | 0.31 | 0.30 |
| Net Debt / Equity Ratio | -0.68 | -0.89 | -0.30 | -0.06 | 0.06 | -0.52 |
| Net Debt / FCF Ratio | 0.30 | 0.70 | 0.45 | 0.03 | -0.03 | 0.43 |
| Return on Equity (ROE) | 6.19% | 6.11% | 10.24% | 11.59% | 6.64% | 7.62% |
| Return on Assets (ROA) | 0.55% | 0.53% | 0.88% | 1.13% | 0.80% | 1.03% |
| Earnings Yield | 3.43% | 5.29% | 7.31% | 15.67% | 8.89% | 5.52% |
| FCF Yield | -127.38% | -126.34% | -49.53% | -277.41% | -323.07% | -97.50% |
| Dividend Yield | 0.33% | 0.59% | 0.48% | 0.97% | 1.07% | 0.68% |
| Payout Ratio | 9.67% | 11.37% | 9.03% | 8.54% | 16.46% | 17.18% |
| Buyback Yield / Dilution | -7.15% | -21.34% | 1.17% | 4.20% | -26.08% | -2.98% |
| Total Shareholder Return | -6.82% | -20.75% | 1.65% | 5.17% | -25.01% | -2.30% |