VersaBank Announces Withdrawal of Preliminary Prospectus

LONDON, Ontario–(BUSINESS WIRE)–VersaBank (the « Bank ») (TSX:VB) announced today that, in light of current market conditions, it has determined not to proceed with its previously announced public offering of non-cumulative 5-year rate reset preferred shares, series 5 of the Bank at this time and is withdrawing its preliminary short form prospectus previously filed on June 9, 2017.

About VersaBank

VersaBank, a technology based and digital Canadian Schedule I chartered bank, operates using an « electronic branchless model ». It obtains deposits, along with consumer and commercial loan and lease receivables, electronically. The Bank also makes residential development and commercial mortgages it obtains through a well-established network of brokers and through direct contact with its lending staff. VersaBank’s Common Shares trade on the Toronto Stock Exchange under the symbol VB and its Series 1 Preferred Shares and Series 3 Preferred Shares trade under the symbols VB.PR.A and VB.PR.B, respectively.