LONDON, ON, Dec. 10, 2025 /PRNewswire/ - VersaBank (or the "Bank") (TSX:VBNK) (NASDAQ:VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today reported its results for the fourth quarter and fiscal year ended October 31, 2025. All figures are in Canadian dollars unless otherwise stated.
CONSOLIDATED FINANCIAL SUMMARY
(unaudited)
As at or for the three months ended
As at or for the year ended
October 31
July 31
October 31
October 31
October 31
(thousands of Canadian dollars except per share amounts)
2025
2025
Change
2024
Change
2025
2024
Change
Financial results
Total revenue
$ 35,092
$ 31,583
11 %
$ 27,285
29 %
$ 124,641
$ 111,633
12 %
Cost of funds*
3.15 %
3.33 %
(5 %)
4.11 %
(23 %)
3.37 %
4.04 %
(17 %)
Net interest margin*
2.29 %
2.25 %
2 %
2.12 %
8 %
2.18 %
2.27 %
(4 %)
Net interest margin on credit assets*
2.65 %
2.55 %
4 %
2.34 %
13 %
2.52 %
2.52 %
0 %
Return on average common equity*
3.89 %
4.94 %
(21 %)
5.28 %
(26 %)
6.11 %
10.16 %
(40 %)
Adjusted return on average common equity*
7.81 %
7.24 %
8 %
5.28 %
48 %
7.85 %
10.16 %
(23 %)
Net income
5,204
6,582
(21 %)
5,516
(6 %)
28,458
39,748
(28 %)
Adjusted net income*
10,549
9,670
9 %
5,516
91 %
36,891
39,748
(7 %)
Income per common share basic and diluted
0.16
0.20
(20 %)
0.20
(20 %)
0.90
1.49
(40 %)
Adjusted income per common share basic and diluted*
0.33
0.30
10 %
0.20
65 %
1.17
1.49
(21 %)
Balance sheet and capital ratios**
Total assets
$ 5,808,475
$ 5,477,489
6 %
$ 4,838,484
20 %
$ 5,808,475
$ 4,838,484
20 %
Book value per common share*
16.67
16.42
2 %
15.35
9 %
16.67
15.35
9 %
Common Equity Tier 1 (CET1) capital ratio
12.92 %
13.56 %
(5 %)
11.24 %
15 %
12.92 %
11.24 %
15 %
Total capital ratio
15.72 %
16.50 %
(5 %)
14.48 %
9 %
15.72 %
14.48 %
9 %
Leverage ratio
8.47 %
8.90 %
(5 %)
7.38 %
15 %
8.47 %
7.38 %
15 %
* See definition under 'Non-GAAP and Other Financial Measures' in the 2025 Annual Management's Discussion and Analysis.
** Capital management and leverage measures are in accordance with OSFI's Capital Adequacy Requirements and Basel III Accord.
SEGMENTED FINANCIAL SUMMARY, QUARTERLY
(thousands of Canadian dollars)
for the three months ended
October 31, 2025
Digital Banking
Digital Banking
Digital Meteor
DRTC
Eliminations/
Consolidated
Canada
USA
Adjustments
Net interest income
$ 27,399
$ 5,234
$ -
$ -
$ -
$ 32,633
Non-interest income
250
(15)
673
1,898
(347)
2,459
Total revenue
27,649
5,219
673
1,898
(347)
35,092
Provision for (recovery of) credit losses
1,365
(46)
-
-
-
1,319
26,284
5,265
673
1,898
(347)
33,773
Non-interest expenses:
Salaries and benefits
7,446
1,213
130
1,327
-
10,116
General and administrative
10,941
924
140
143
(347)
11,801
Premises and equipment
929
323
276
426
-
1,954
19,316
2,460
546
1,896
(347)
23,871
Income (loss) before income taxes
6,968
2,805
127
2
-
9,902
Income tax provision
3,840
806
33
19
-
4,698
Net income (loss)
$ 3,128
$ 1,999
$ 94
$ (17)
$ -
$ 5,204
Total assets
$ 5,050,922
$ 759,733
$ 10,207
$ 24,538
$ (36,925)
$ 5,808,475
Total liabilities
$ 4,777,508
$ 498,822
$ 8,006
$ 28,319
$ (36,853)
$ 5,275,802
for the three months ended
July 31, 2025
Digital Banking
Digital Banking
Digital Meteor
DRTC
Eliminations/
Consolidated
Canada
USA
Adjustments
Net interest income
$ 26,656
$ 3,123
$ -
$ -
$ -
$ 29,779
Non-interest income
(37)
(7)
622
1,569
(343)
1,804
Total revenue
26,619
3,116
622
1,569
(343)
31,583
Provision for (recovery of) credit losses
1,201
(20)
-
-
-
1,181
25,418
3,136
622
1,569
(343)
30,402
Non-interest expenses:
Salaries and benefits
7,214
1,174
214
1,497
-
10,099
General and administrative
8,636
1,163
47
214
(343)
9,717
Premises and equipment
898
186
373
376
-
1,833
16,748
2,523
634
2,087
(343)
21,649
Income (loss) before income taxes
8,670
613
(12)
(518)
-
8,753
Income tax provision
2,150
176
(35)
(120)
-
2,171
Net income (loss)
$ 6,520
$ 437
$ 23
$ (398)
$ -
