Canadian digital lender, eyeing U.S. market, sees upside in market downturn

Economic uncertainty has positioned Canada’s digital-only VersaBank for strong growth in the U.S. market, according to CEO David Taylor.

Earlier this week, the small online lender announced a $13.5 million deal to acquire a subsidiary of St. Cloud, Minnesota-based Stearns Financial Services, which Taylor described as “an essential piece of the puzzle” during an interview Thursday.