VersaBank Gets Approval for Share Buyback Program

Dow Jones

Apr 28, 2025

By Robb M. Stewart

VersaBank has the go-ahead from the Toronto Stock Exchange to buy back up to almost 9% of its public float of shares over a one-year period.

The London, Ontario-based online bank said it received approval from the exchange to proceed with a normal course issuer bid for up to 2 million of its shares.

Buying shares can begin Wednesday and the buyback program will terminate April 29, 2026.

VersaBank, which runs a branchless business-to-business banking model in Canada and the U.S., said that in the fiscal year to date it has delivered considerable year-over-year growth in profitability, which is translating into improvements in its efficiency ratio and return on common equity.

The bank's shares have fallen 24% so far this year, though remain up 12% over the past 12 months, last closing at C$15.10.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

April 28, 2025 07:35 ET (11:35 GMT)

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Stewart at robb.stewart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 28, 2025 07:35 ET (11:35 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4211","symbol_name":"区域性银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2530477236","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2530477236","pubTimestamp":1745840100,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"VersaBank has the go-ahead from the Toronto Stock Exchange to buy back up to almost 9% of its public float of shares over a one-year period.The London, Ontario-based online bank said it received approval from the exchange to proceed with a normal course issuer bid for up to 2 million of its shares.Buying shares can begin Wednesday and the buyback program will terminate April 29, 2026.VersaBank, which runs a branchless business-to-business banking model in Canada and the U.S., said that in the fiscal year to date it has delivered considerable year-over-year growth in profitability, which is translating into improvements in its efficiency ratio and return on common equity.The bank's shares have fallen 24% so far this year, though remain up 12% over the past 12 months, last closing at C$15.10.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4211":"区域性银行","VBNK":"VersaBank"},"translate_title":"VersaBank股票回购计划获得批准","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VBNK":1},"content_text":"By Robb M. Stewart \n\n\n \n\n\nVersaBank has the go-ahead from the Toronto Stock Exchange to buy back up to almost 9% of its public float of shares over a one-year period. \n\n\n  The London, Ontario-based online bank said it received approval from the exchange to proceed with a normal course issuer bid for up to 2 million of its shares. \n\n\n  Buying shares can begin Wednesday and the buyback program will terminate April 29, 2026. \n\n\n  VersaBank, which runs a branchless business-to-business banking model in Canada and the U.S., said that in the fiscal year to date it has delivered considerable year-over-year growth in profitability, which is translating into improvements in its efficiency ratio and return on common equity. \n\n\n  The bank's shares have fallen 24% so far this year, though remain up 12% over the past 12 months, last closing at C$15.10. \n\n\n \n\n\n  Write to Robb M. Stewart at robb.stewart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 28, 2025 07:35 ET (11:35 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"shareholding,buyback","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}