‘Historic event’ boosts London bank

Norman De Bono
The London Free Press

The made-in-London bank is making history.

VersaBank now stands alone, having recently completed a merger with its parent company, Pacific and Western Capital Inc., said ­David Taylor, VersaBank’s chief executive.

It is the first Schedule 1 bank to join with another, Taylor said.

“It was an historic event, we were the first bank in Canada to amalgamate. The minister (of finance) saw the wisdom of allowing amalgamation.”