VersaBank Gets Canadian Finance Minister Approval for Reorganization

08:44 AM EDT, 10/14/2026 (MT Newswires) -- VersaBank (VBNK.TO, VBNK) received approval from Canada's Finance Minister, Francois-Philippe Champagne, for its plan to realign its corporate structure to a standard US bank framework reorganization under which Versa Bancorp, a new Delaware corporation, will become the direct holding company of the bank, it said Wednesday. The approval marks one of two regulatory approvals required for the bank to complete the reorganization following its approval by the bank's shareholders in September, said VersaBank. VersaBank expects to complete the reorganization by the end of October 2026, it said. The reorganization remains subject to approval by the Federal Reserve Board in the United States, it added.