VERSABANK THIRD QUARTER RESULTS CONTINUE TO DEMONSTRATE STRENGTH OF BUSINESS MODEL AS US RPP PORTFOLIO RAMPS UP
1. Expansion of RPP Program enhances asset and earnings growth potential. 2. New partnerships in Canada include first RPP Securitization partner. 3. Tokenized Deposit Pilot Program at VersaBank USA is progressing well. 4. Financial results reflect a planned $4.2 million expense for corporate realignment. 5. Net income decreased but adjusted income showed an 11% sequential increase.