VersaBank to Pay Quarterly Dividends on Its Common Shares and Series 1 and Series 3 Preferred Shares

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Attention: Business Editors

LONDON, February 27, 2019/BUSINESS WIRE/ – VersaBank (TSX:VB) today announced that
its Board of Directors have declared quarterly cash dividends on its Common Shares (TSX:VB),
7.0% Series 1 Preferred Shares (TSX:VB.PR.A) and 7.0% Series 3 Preferred Shares

The Common Share dividend of $0.015 per share and the Series 1 Preferred Share and Series 3
Preferred Share dividends of $0.175 per share are payable, subject to the approval of the Toronto
Stock Exchange (“TSX”), as of April 30, 2019 to shareholders of record at the close of business on
April 5, 2019.

The dividends to which this notice relates are eligible dividends for tax purposes.

About VersaBank

VersaBank adopted an electronic branchless model in 1993, becoming the world’s first branchless
financial institution. It holds a Canadian Schedule I chartered bank license and obtains its deposits,
and the majority of its loans and leases, electronically. 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.

For further information please contact:
Investor Relations: Wade MacBain, (800) 244-1509, [email protected]
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