VersaBank Receives Approval From Canada's Finance Minister, François-Philippe Champagne, To Realign Its Corporate Structure To Standard US Bank Framework Reorganization

VersaBank (TSX: VBNK, NASDAQ: VBNK) has received approval from Canada's Finance Minister, François-Philippe Champagne, to realign its corporate structure to a standard U.S. bank framework. This reorganization involves creating a new Delaware corporation, Versa Bancorp, which will serve as the direct holding company of the Bank. The reorganization is expected to be completed by the end of October 2026, pending approval from the Federal Reserve Board in the U.S., which remains uncertain.