VersaBank Q3 2024 Earnings Call Transcript - Thomson StreetEvents

VersaBank Q3 2024 Earnings Call Transcript

VersaBank Q3 2024 Earnings Call Transcript - Thomson StreetEvents
VersaBank Q3 2024 Earnings Call Transcript
Published Sep 05, 2024
8 pages (4652 words) — Published Sep 05, 2024
Price US$ 54.00  |  Buy this Report Now

About This Report

  
Abstract:

Edited Transcript of VBNK.TO earnings conference call or presentation 5-Sep-24 1:00pm GMT

  
Brief Excerpt:

...Good morning, everyone, and thank you for joining us for today's call. With me today is Chief Financial Officer, John Asma. I'd like to begin today's call by discussing one of the most important announcements in the history of our bank, the closing late last week of our US acquisition. It's been a long process, spanning more than two years since we first announced the transaction in spring of 2022, but this was no mean feat, what we understand to be a relatively rare occurrence in the United States. There were many who thought it wouldn't be possible, however, with a rock solid foundation based on our branchless digital B2B model, a proven track record of innovation, earnings growth and no loan losses, and a truly unique risk mitigated offering in our receivable purchase program, we present to the US regulators with a very compelling proposition. I'd like to take this opportunity to publicly thank all those at VersaBank for their tireless efforts on both the regulatory approval process...

  
Report Type:

Transcript

Source:
Thomson StreetEvents
Company:
VersaBank
Ticker
VBNK.TO
Time
1:00pm GMT
Format:
PDF Adobe Acrobat
Buy Now

The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: David Feaster - Raymond James & Associates, Inc. - Analyst : All right. Good morning, everybody. Congratulations on closing the deal.

Question: David Feaster - Raymond James & Associates, Inc. - Analyst : So we've got -- the deal is now closed, I was hoping maybe you could start with just how conversations are going with new partners in the US. How demand is trending and maybe the growth trajectory that you're expecting. And then just remind us of those better economics on the RPP program in the states that you were alluding to.

Question: David Feaster - Raymond James & Associates, Inc. - Analyst : That's terrific. And to that point, I was hoping you could touch on the funding growth side in the states. You just talked about the lower deposit costs. Could you just touch on the timeline? I mean, like, can you immediately with deal close, start driving deposit growth here in the states and just walk through your strategy for funding growth in the US?

Question: David Feaster - Raymond James & Associates, Inc. - Analyst : That's great. I love to hear it. And then just one quick modeling question. You called out some one-time costs in the quarter. Could you quantify those and maybe quantify what was in this quarter and some of the one-time charges you might expect next quarter?

Question: David Feaster - Raymond James & Associates, Inc. - Analyst : And based on the disclosures, it's about a three-month lag. Is that right?

Question: David Feaster - Raymond James & Associates, Inc. - Analyst : Okay. That's helpful. Thanks, everybody. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 05, 2024 / 1:00PM, VBNK.TO - Q3 2024 VersaBank Earnings Call

Table Of Contents

Versabank Q3 2025 Earnings Call Transcript – 2025-09-04 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 4-Sep-25 1:00pm GMT

Versabank Q2 2025 Earnings Call Transcript – 2025-06-04 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 4-Jun-25 1:00pm GMT

Versabank Annual Shareholders Meeting Transcript – 2025-04-24 – US$ 54.00 – Edited Transcript of VBNK.TO shareholder or annual meeting 24-Apr-25 2:30pm GMT

Versabank Q1 2025 Earnings Call Transcript – 2025-03-05 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 5-Mar-25 2:00pm GMT

Versabank Q4 2024 Earnings Call Transcript – 2024-12-09 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 9-Dec-24 2:00pm GMT

VersaBank Q2 2024 Earnings Call Transcript – 2024-06-05 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 5-Jun-24 1:00pm GMT

VersaBank Q3 2023 Earnings Call Transcript – 2023-08-30 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 30-Aug-23 1:00pm GMT

VersaBank Q2 2023 Earnings Call Transcript – 2023-06-07 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 7-Jun-23 1:00pm GMT

VersaBank Annual Shareholders Meeting Transcript – 2023-04-19 – US$ 54.00 – Edited Transcript of VBNK.TO shareholder or annual meeting 19-Apr-23 2:30pm GMT

VersaBank Q1 2023 Earnings Call Transcript – 2023-03-08 – US$ 54.00 – Edited Transcript of VBNK.TO earnings conference call or presentation 8-Mar-23 2:00pm GMT

More from Thomson StreetEvents

Thomson StreetEvents—Thomson StreetEvents is a leading provider of Web-based solutions for the investment community, offering services that transform the way companies communicate and meet disclosure requirements while assisting investors in managing and leveraging this information. Thomson StreetEvents service offers institutional investors a one-stop solution for managing corporate disclosure information by aggregating conference calls, webcasts, transcripts, call summaries, and other financial information into a time-saving, efficiency tool.
Purchase Thomson StreetEvents' Transcripts (verbatim reports) and Briefs (call summaries) of earnings, guidance, M&A and other corporate calls directly through Alacra. Discounted prices apply to reports produced over two weeks ago.

About the Author


Cite this Report

  
MLA:
Thomson StreetEvents. "VersaBank Q3 2024 Earnings Call Transcript" Sep 05, 2024. Alacra Store. Nov 06, 2026. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2024-VersaBank-Earnings-Call-T16103859>
  
APA:
Thomson StreetEvents. (2024). VersaBank Q3 2024 Earnings Call Transcript Sep 05, 2024. New York, NY: Alacra Store. Retrieved Nov 06, 2026 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q3-2024-VersaBank-Earnings-Call-T16103859>
  
US$ 54.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.