{"id":904036,"date":"2025-11-03T08:32:55","date_gmt":"2025-11-03T13:32:55","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/"},"modified":"2025-11-03T08:32:55","modified_gmt":"2025-11-03T13:32:55","slug":"versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/","title":{"rendered":"VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <b>Attention: Business Editors<\/b>\n      <\/p>\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">LONDON, ON<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Nov. 3, 2025<\/span><\/span> \/PRNewswire\/ &#8211;\u00a0VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced its wholly owned US subsidiary, VersaBank <span class=\"xn-location\">USA<\/span>, has entered into an agreement with its largest US RPP partner to date, under which, the partner will utilize the Bank&#8217;s core Receivable Purchase Program (RPP) in <span class=\"xn-location\">the United States<\/span>. For commercial reasons, the partner has requested not to be named until a later date.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/2811279\/VersaBank_VERSABANK_ANNOUNCES_LARGEST_US_RPP_PARTNER_TO_DATE__SU.html\" target=\"_blank\" rel=\"nofollow\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/2811279\/VersaBank_VERSABANK_ANNOUNCES_LARGEST_US_RPP_PARTNER_TO_DATE__SU.jpg\" title=\"VersaBank Logo (CNW Group\/VersaBank)\" alt=\"VersaBank Logo (CNW Group\/VersaBank)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>The Bank immediately completed an initial funding of <span class=\"xn-money\">US$61 million<\/span> with the new partner, bringing its total US RPP fundings in fiscal 2025 to <span class=\"xn-money\">US$310 million<\/span> and bringing RPP assets at year end to <span class=\"xn-money\">US$293 million<\/span>, surpassing the Bank&#8217;s first year target of <span class=\"xn-money\">US$290 million<\/span>. The Bank&#8217;s <span class=\"xn-money\">US$310 million<\/span> of fundings in fiscal 2025 was composed of <span class=\"xn-money\">US$242 million<\/span> through the Bank&#8217;s core RPP offering and <span class=\"xn-money\">US$68 million<\/span> through the Bank&#8217;s Securitized RPP offering, while the <span class=\"xn-money\">$293 million<\/span> in RPP assets at year end was composed of <span class=\"xn-money\">US$227 million<\/span> through the Bank&#8217;s core RPP offering and <span class=\"xn-money\">US$66 million<\/span> through the Bank&#8217;s Securitized RPP offering.<\/p>\n<p>&#8220;We are thrilled to add our largest US RPP partner to date, further evidence of the attractiveness of VersaBank&#8217;s RPP, and we look forward to expanding our relationship with this partner to our mutual benefit, while continuing to add new partners in the year to come,&#8221; said <span class=\"xn-person\">David Taylor<\/span>, Founder and President,\u00a0VersaBank. &#8220;Both our core RPP and our Securitized RPP offerings are gaining momentum in the US market, and we expect to expand our US assets at a minimum of several fold in fiscal 2026.&#8221;<\/p>\n<p>\n        <b>About VersaBank<\/b>\n      <\/p>\n<p>VersaBank is a North American bank with a difference. Federally chartered in both <span class=\"xn-location\">Canada<\/span> and the US, VersaBank has a branchless, digital, business-to-business model based on its proprietary state-of-the-art technology that enables it to profitably address underserved segments of the banking industry in a significantly risk mitigated manner. Because VersaBank obtains substantially all of its deposits and undertakes the majority of its funding electronically through financial intermediary partners, it benefits from significant operating leverage that drives efficiency and return on common equity. In <span class=\"xn-chron\">August 2024<\/span>, VersaBank broadly launched its unique Receivable Purchase Program funding solution for point-of-sale finance companies, which has been highly successful in <span class=\"xn-location\">Canada<\/span> for nearly 15 years, to the underserved multi-trillion-dollar US market. VersaBank also owns <span class=\"xn-location\">Minneapolis<\/span>-based DRT Cyber Inc., a <span class=\"xn-location\">North America<\/span> leader in the provision of cyber security services to address the rapidly growing volume of cyber threats challenging financial institutions, multi-national corporations and government entities. Through its wholly owned subsidiary, Digital Meteor Inc. (&#8220;Digital Meteor&#8221;),\u00a0VersaBank owns proprietary intellectual property and technology to enable the next generation of digital assets for the banking and financial community, including the Bank&#8217;s revolutionary tokenized deposits.<\/p>\n<p>VersaBank&#8217;s Common Shares trade on the Toronto Stock Exchange and NASDAQ under the symbol VBNK.<\/p>\n<p>\n        <b>FORWARD-LOOKING STATEMENTS<\/b>\n      <\/p>\n<p>VersaBank&#8217;s public communications often include written or oral forward-looking statements. Statements of this type are included in this document, and may be included in other filings and with Canadian securities regulators or the U.S. Securities and Exchange Commission, or in other communications. All such statements are made pursuant to the &#8220;safe harbour&#8221; provisions of, and are intended to be forward-looking statements under, the United States Private Securities Litigation Reform Act of 1995 and any applicable Canadian securities legislation. The statements in this press release that relate to the future are forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, many of which are out of our control. Risks exist that predictions, forecasts, projections, and other forward-looking statements will not be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements as several important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, the strength of the Canadian and U.S. economy in general and the strength of the local economies within <span class=\"xn-location\">Canada<\/span> and U.S. in which we conduct operations; the effects of changes in monetary and fiscal policy, including changes in interest rate policies of the Bank of <span class=\"xn-location\">Canada<\/span> and the U.S. Federal Reserve; changing global commodity prices; the effects of competition in the markets in which we operate; inflation; capital market fluctuations; the timely development and introduction of new products in receptive markets; the impact of changes in the laws and regulations pertaining to financial services; changes in tax laws; technological changes; unexpected judicial or regulatory proceedings; unexpected changes in consumer spending and savings habits; the impact of wars or conflicts including the crisis in <span class=\"xn-location\">Ukraine<\/span> and the impact of the crisis on global supply chains; the impact of new variants of COVID-19 and the Bank&#8217;s anticipation of and success in managing the risks implicated by the foregoing. For a detailed discussion of certain key factors that may affect our future results, please see our annual MD&amp;A for the year ended <span class=\"xn-chron\">October 31, 2024<\/span>.<\/p>\n<p>The foregoing list of important factors is not exhaustive. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The forward-looking information contained in this document and the related management&#8217;s discussion and analysis is presented to assist our shareholders and others in understanding our financial position and may not be appropriate for any other purposes. Except as required by securities law, we do not undertake to update any forward-looking statement that is contained in this document and the related management&#8217;s discussion and analysis or made from time to time by the Bank or on its behalf.<\/p>\n<p>Visit our website at: <u><a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4547530-1&amp;h=495799066&amp;u=https%3A%2F%2Fwww.versabank.com%2F&amp;a=www.versabank.com\" target=\"_blank\" rel=\"nofollow\">www.versabank.com<\/a><br \/><\/u>Follow VersaBank on <u><a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4547530-1&amp;h=3406443940&amp;u=https%3A%2F%2Fwww.facebook.com%2FVersaBank%2F&amp;a=Facebook\" target=\"_blank\" rel=\"nofollow\">Facebook<\/a><\/u>, <u><a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4547530-1&amp;h=3253727814&amp;u=https%3A%2F%2Fwww.instagram.com%2Fversabank%2F&amp;a=Instagram\" target=\"_blank\" rel=\"nofollow\">Instagram<\/a><\/u>, <u><a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4547530-1&amp;h=2011387300&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fversabank%2F%3ForiginalSubdomain%3Dca&amp;a=LinkedIn\" target=\"_blank\" rel=\"nofollow\">LinkedIn<\/a><\/u> and <u><a href=\"https:\/\/edge.prnewswire.com\/c\/link\/?t=0&amp;l=en&amp;o=4547530-1&amp;h=1718476712&amp;u=https%3A%2F%2Ftwitter.com%2Fversabank%3Flang%3Den&amp;a=X\" target=\"_blank\" rel=\"nofollow\">X<\/a><\/u>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/edge.prnewswire.com\/c\/img\/favicon.png?sn=TO13380&amp;sd=2025-11-03\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025-302601970.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025-302601970.html<\/a><\/p>\n<p>SOURCE  VersaBank<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=TO13380&amp;Transmission_Id=202511030700PR_NEWS_USPR_____TO13380&amp;DateId=20251103\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire Attention: Business Editors LONDON, ON , Nov. 3, 2025 \/PRNewswire\/ &#8211;\u00a0VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced its wholly owned US subsidiary, VersaBank USA, has entered into an agreement with its largest US RPP partner to date, under which, the partner will utilize the Bank&#8217;s core Receivable Purchase Program (RPP) in the United States. For commercial reasons, the partner has requested not to be named until a later date. The Bank immediately completed an initial funding of US$61 million with the new partner, bringing its total US RPP fundings in fiscal 2025 to US$310 million and bringing RPP assets at year end to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-904036","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire Attention: Business Editors LONDON, ON , Nov. 3, 2025 \/PRNewswire\/ &#8211;\u00a0VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced its wholly owned US subsidiary, VersaBank USA, has entered into an agreement with its largest US RPP partner to date, under which, the partner will utilize the Bank&#8217;s core Receivable Purchase Program (RPP) in the United States. For commercial reasons, the partner has requested not to be named until a later date. The Bank immediately completed an initial funding of US$61 million with the new partner, bringing its total US RPP fundings in fiscal 2025 to US$310 million and bringing RPP assets at year end to &hellip; Continue reading &quot;VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-03T13:32:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/2811279\/VersaBank_VERSABANK_ANNOUNCES_LARGEST_US_RPP_PARTNER_TO_DATE__SU.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025\",\"datePublished\":\"2025-11-03T13:32:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\\\/\"},\"wordCount\":992,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/2811279\\\/VersaBank_VERSABANK_ANNOUNCES_LARGEST_US_RPP_PARTNER_TO_DATE__SU.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\\\/\",\"name\":\"VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; 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SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025 - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/","og_locale":"en_US","og_type":"article","og_title":"VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025 - Market Newsdesk","og_description":"PR Newswire Attention: Business Editors LONDON, ON , Nov. 3, 2025 \/PRNewswire\/ &#8211;\u00a0VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today announced its wholly owned US subsidiary, VersaBank USA, has entered into an agreement with its largest US RPP partner to date, under which, the partner will utilize the Bank&#8217;s core Receivable Purchase Program (RPP) in the United States. For commercial reasons, the partner has requested not to be named until a later date. The Bank immediately completed an initial funding of US$61 million with the new partner, bringing its total US RPP fundings in fiscal 2025 to US$310 million and bringing RPP assets at year end to &hellip; Continue reading \"VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; SURPASSES US RPP TARGET WITH US$310 MILLION FUNDED IN FISCAL 2025\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/","og_site_name":"Market Newsdesk","article_published_time":"2025-11-03T13:32:55+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/2811279\/VersaBank_VERSABANK_ANNOUNCES_LARGEST_US_RPP_PARTNER_TO_DATE__SU.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/versabank-announces-largest-us-rpp-partner-to-date-surpasses-us-rpp-target-with-us310-million-funded-in-fiscal-2025\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"VERSABANK ANNOUNCES LARGEST US RPP PARTNER TO DATE; 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