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VersaBank 2025 Annual Meeting Results

On April 24, 2025, VersaBank conducted its Annual Meeting of Shareholders in London, Ontario, where several important resolutions were presented and voted upon. Among the highlights, all director nominees listed in the Management Information Circular dated February 28, 2025, were successfully elected as directors of the bank.

Director Election Results

The board elections resulted in the following outcomes:

• - Frank Newbould: Received 98.97% votes in favor.
• - Robbert-Jan Brabander: Achieved 98.18% support.
• - David A. Bratton: Garnered 97.12% approval.
• - Gabrielle Bochynek: Secured 98.39% backing.
• - Peter M. Irwin: Elected with 97.51% in favor.
• - Richard Jankura: Received 98.43% approval rate.
• - Arthur Linton: Attained 98.15% support.
• - Susan T. McGovern: Although elected, she had a comparatively lower approval rate of 93.61%.
• - Paul G. Oliver: Secured 98.38% backing.
• - David R. Taylor: Notably earned 99.08% support.

The impressive percentages reflect strong shareholder confidence in the leadership team.

Appointment of Auditors

In addition to the election of directors, the shareholders also approved the appointment of Ernst Young LLP as the bank's auditors, indicating a wish for continued integrity and transparency in financial reporting.

About VersaBank

VersaBank presents itself as a unique entity in the North American banking landscape. Federally chartered in both Canada and the United States, it operates with a branchless model, prioritizing digital engagements to streamline banking for business-to-business transactions. This approach focuses on addressing underserved market segments, thus ensuring profitability with reduced risk.

With technology at its core, VersaBank benefits significantly from operational efficiencies. A distinguishing feature is its Receivable Purchase Program launched in August 2024, catering specifically to point-of-sale finance companies, which has proven highly effective in Canada and is now targeting the vast U.S. market.

In addition, the bank owns DRT Cyber Inc., a leader in cybersecurity that aids financial entities and corporations in managing growing cyber threats. This strategic acquisition underlines VersaBank's commitment to providing comprehensive financial and technological support in a rapidly evolving digital landscape.

Looking Ahead

Looking forward, VersaBank continues to explore innovative solutions for the banking sector, including the development of Digital Deposit Receipts (DDRs) through its subsidiary, Digital Meteor Inc. The focus remains on embracing the next generation of digital assets, demonstrating its vision for future growth in an increasingly competitive marketplace.

VersaBank trades on the Toronto Stock Exchange and NASDAQ under the ticker symbol VBNK. For further information on their services and vision, visit VersaBank's website.

The promising outcomes of the shareholders' meeting, along with innovative initiatives and robust leadership, position VersaBank for a prosperous year ahead, reaffirming its status as a pioneering bank in the digital age.