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

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

David Taylor, President & CEO, remarked that “VersaBank is pleased to have reached an important milestone: the declaration of its first common share dividend.”

The Common Share dividend of $0.01 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 January 31, 2018 to shareholders of record at the close of business on January 5, 2018.

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

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 TSX 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.

Visit our website at: http://www.versabank.com