Mr. David Taylor reports

VERSABANK WELCOMES BACK FINANCING INDUSTRY VETERAN MOE DANIS TO SUPPORT ANTICIPATED GROWTH OF REAL-TIME SRP

VersaBank has added point-of-sale financing industry veteran Moe Danis, CFA, to the bank's structured receivable program (SRP) team to support business development in response to increased demand following the bank's launch of its real-time SRP, with a particular focus on specialized large-partner opportunities in the United States market.

"Previously with the bank from 2010 to 2016, Moe knows the point-of-sale financing industry and, more importantly, knows VersaBank's SRP, having been integral to its early development and rollout," said David Taylor, founder and president, VersaBank. "He is the natural choice as an additional experienced expert to address the significantly increased demand for our SRP since launching our real-time funding."

"I am pleased to welcome Moe to the U.S. SRP team to help capitalize on the new opportunities arising from our announcement of our game-changing real-time capabilities," said Tel Matrundola, president, VersaBank USA. "Moe is an excellent complement to the experience and expertise of our SRP veteran Mike Dixon to ensure we have the resources to maximize this opportunity at this critical juncture."

"VersaBank's real-time SRP is a revolutionary funding solution for point-of-sale financing companies and it's not at all surprising that the bank is seeing a significant increase in interest in what is a truly unique and highly attractive funding solution," said Mr. Danis. "I am thrilled to again work with what I believe is the most innovative banking team in North America and contribute to the growth of the SRP portfolio."

Mr. Danis has nearly five decades of experience as a leader and innovator in the banking and lease and finance industries. In addition to being a highly sought after consultant, including to point-of-sale financing companies and his previous tenure at VersaBank, Mr. Danis's experience includes serving as senior vice-president, program finance, at CWB Maxium Financial Inc. and managing director, lease finance, private fixed income, at SunLife.

Since the late 1980s, Mr. Danis has been a leader and innovator in the private securitization market in Canada. He has experienced the complete business and credit life cycle through the lens of several of Canada's leaders of portfolio finance facilities. His ability to understand the demands of a highly regulated institutional environment allows him to create and structure attractive finance programs for all sizes of originators. Mr. Danis has served as a board member to a number of independent leasing companies and the Canadian Finance and Leasing Association.

ABOUT VersaBank

VersaBank is a North American bank with a difference. Federally chartered in both Canada and the United States, VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its funding activities electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity. In August, 2024, VersaBank launched its unique structured receivable program funding solution for point-of-sale finance companies, which has been highly successful in Canada for over 15 years, to the underserved multitrillion-dollar United States market. VersaBank also owns Minnesota-based DRT Cyber Inc., a North American leader in the provision of cybersecurity services to address the rapidly growing volume of cyber threats challenging financial institutions, multinational corporations and government entities. Through DRT Cyber Inc., VersaBank owns proprietary intellectual property and technology to enable the next generation of digital assets for the banking and financial community, including the bank's revolutionary and proprietary Real Bank Tokenized Deposits.

We seek Safe Harbor.