VersaBank announced the US commercial phase for its Real Bank Tokenized Deposits (RBTDs), branded VUSD, with full regulatory compliance. The product offers interest-bearing, FDIC-insured tokenized deposits tradable on exchanges, and includes regulator tools to freeze or seize deposits if abused. Management expects VUSD to attract inexpensive deposits, support ROE via U.S. Treasuries, and expand the Structured Receivable Program in the US.
VersaBank and Fiserv unveiled a partnership via VersaBank USA to issue and manage Roughrider Coin, a USD-backed stablecoin for Bank of North Dakota. VersaBank will mint, burn, custody and manage reserves as the first live use case of Fiserv’s Digital Asset Platform, highlighting VersaBank's digital-asset capabilities and potentially expanding its US bank-custody opportunities.
Analyst initiates coverage on VBNK with a price target of $18. VersaBank is federally chartered in the U.S. and Canada after acquiring Stearns Bank. Management aims to enhance leverage via point-of-sale lending model in the U.S. Analyst anticipates modest net interest margin expansion due to retail pricing power. FY25 EPS forecasted at $1.68, despite pressures from lower-margin real estate loans.
VBNK's shares hit a 52-week high at $14.22, closing at $13.40. Acquired Stearns Bank for $14 million, bolstering its asset base significantly. Launch of Receivable Purchase Program targets the large U.S. financing market. Expected earnings per share growth post-acquisition indicates strong profitability potential. Other finance stocks like JHG and BWB are also pursuing acquisitions.
