This morning VersaBank announced Nicolas Ospina will join the company as Global CFO in January. He brings over a decade of financial services focused capital markets experience at Raymond James…

… who led VersaBank’s US$86M equity raise in December of last year, so they’ve previously worked together - making the hire a vote of confidence from both sides. Nicolas’ experience should be key to VBNK’s growth south of the border…

… given the U.S. capital markets will play an increasingly important role. The market agrees, pushing VBNK shares up ~2% on the news in what’s been a pretty quiet day of trading for U.S. peers.

While the announcement doesn’t warrant any estimates changes, it reiterates our core thesis - VersaBank is a U.S. growth story with a lot of upside if it can execute.

Disclaimer: VersaBank is a client of Bullpen Finance Inc.