VersaBank Gains Toronto Stock Exchange's Approval for Share Buyback Program Renewal

VersaBank Secures Approval for Normal Course Issuer Bid Renewal

On April 28, 2026, VersaBank, the innovative North American bank, announced a significant development as it received approval from the Toronto Stock Exchange (TSX) to renew its Normal Course Issuer Bid (NCIB). This pivotal move allows the bank to repurchase up to 2 million common shares, representing about 9.14% of its public float. Such strategic maneuvers reflect VersaBank's strong market performance and future ambitions.

David Taylor, President of VersaBank, expressed confidence in the bank's growth trajectory, attributing its success to the rising demand for its Structured Receivable Program in the United States. This program has established a solid foundation for the bank's cloud-based, digital banking model which aims to enhance efficiency and maximize returns on equity. Taylor emphasized the bank's belief that their stock remains undervalued despite noticeable growth.

The updated NCIB will enable VersaBank to prudently allocate capital, especially in times of market fluctuation. The bank plans to commence share repurchases on April 30, 2026, continuing until April 29, 2027, or until the purchases are fully executed, depending on market conditions. The purchases will be made only through open market transactions, ensuring compliance with TSX and Nasdaq regulations.

As of April 16, 2026, the public float consisted of 21,876,251 common shares, with a total of 32,167,347 shares issued. The average daily trading volume during the preceding six months was 26,510 shares; therefore, daily purchases under the NCIB will be limited to 25% of that volume, translating to 6,627 shares per day, unless block purchase exceptions are invoked.

In the past six months, VersaBank has made a substantial imprint on the trading scene, with nearly 12 million shares traded across various exchanges, including approximately 3.3 million shares on the TSX. Previous buyback attempts under the former NCIB saw the acquisition of 573,251 shares at an average price of USD 11.49, showcasing the bank's strategic finesse in share management.

In addition to this announcement, the bank continues to prepare for further innovations with its Real Bank Tokenized Deposit (RBTD™) and stablecoin custody strategies, marking its intent to evolve and adapt to new market opportunities. Taylor noted that the planned realignment towards a standard U.S. bank framework could also pave the way for VersaBank's inclusion in the Russell 2000 index, enhancing visibility and credibility in the financial market.

VersaBank operates with a unique approach to banking in North America—focusing on digital and cloud-based solutions. Since its inception, the bank has leveraged advanced technology to cater to underserved banking segments, facilitating significant operating efficiency and leveraging its resources effectively. With its head office in London, Ontario, VersaBank has demonstrated resilience and innovation in navigating the evolving landscape of digital banking.

The bank's recent initiatives, including the successful launch of its Structured Receivable Program for the U.S. market, further highlight its commitment to growth and adaptability. Moreover, the acquisition of DRT Cyber Inc., a leader in cybersecurity services, enables VersaBank to bolster its defenses against the growing threats faced by financial institutions today. Their proprietary technology and expertise not only enhance bank security but also enable the future development of next-gen digital assets in the financial sector.

As VersaBank embarks on this new chapter with the NCIB renewal, it exemplifies a robust commitment to providing value to its shareholders while ensuring operational flexibility amid changing market conditions. With the backing of its innovative digital strategy and a solid capital allocation plan, VersaBank is well-positioned to navigate the future of the banking industry with confidence.

For those interested in learning more about VersaBank, including its shares listed on the TSX and NASDAQ under the ticker VBNK, or its revolutionary products and services, visit www.versabank.com. Follow their journey on platforms like Facebook, Instagram, LinkedIn, and X to stay updated on their latest developments.