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TSE: VBNK; NASDAQ: VBNK

VersaBank – March 2022

by LodeRock Advisors
March 25, 2022January 6, 2023

Our investment thesis for (TSX/NASDAQ: VBNK) is that its technology-based business model will enable multi-year double-digit EPS growth, while its expansion strategies in US markets, blockchain (tokenized deposits) and cybersecurity (DRT) provide free upside optionality. Despite some execution delays, 1Q22 results and management commentary leave us bullish that the loan growth outlook remains strong with US expansion a potential material catalyst in 2022.

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