Disclosure: Bullpen receives compensation from VersaBank for research coverage.

VersaBank (VBNK) announced the sale of its only retail location, after picking it up in a deal that gave the company access to the US market…

… where it’s now scaling its branchless B2B strategy. At close, the bank expects a US$1.7M non-cash write off (goodwill) and a further improvement in US segment efficiency…

… though continued growth in the SRP program should be the main driver of operating leverage, with US$200M of funding in Q1 and management reiterating its US$1B target for the year.

Read our VersaBank report

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