VersaBank Receives Canadian Finance Minister Approval for Reorganization

London, Ontario--(Newsfile Corp. - October 14, 2026) - VersaBank (TSX: VBNK) (NASDAQ: VBNK) ("VersaBank" or the "Bank"), a North American leader in business-to-business digital banking, digital asset technology and technology solutions for cybersecurity, today announced it has received approval from Canada's Finance Minister, François-Philippe Champagne, for its previously announced plan to realign its corporate structure to a standard U.S. bank framework reorganization pursuant to which Versa Bancorp, a new Delaware corporation, will become the direct holding company of the Bank (the "Reorganization"). Approval by Minister Champagne is one of two regulatory approvals required for the Bank to complete the Reorganization following its approval by the Bank's shareholders in September.

"We are grateful to Minister Champagne for his thoughtful consideration and approval of this important matter, which will support VersaBank in its continued leadership of the Canadian banking industry in terms of innovation and outsized contribution to the Canadian economy," said David Taylor, Founder and President, VersaBank.