VersaBank

NasdaqGS:VBNK Stock Report

Market Cap: US$698.9m

VersaBank Management

Management criteria checks 2/4

VersaBank's CEO is Susan McGovern, appointed in May 2025, has a tenure of 1.17 years. total yearly compensation is CA$180.15K, comprised of 16.7% salary and 83.3% bonuses, including company stock and options. directly owns 0.12% of the company’s shares, worth $850.21K. The average tenure of the management team and the board of directors is 1.5 years and 6.8 years respectively.

Key information

Susan McGovern

Chief executive officer

CA$180.1k

Total compensation

CEO salary percentage16.65%
CEO tenure1.2yrs
CEO ownership0.1%
Management average tenure1.5yrs
Board average tenure6.8yrs

Recent management updates

Recent updates

Seeking Alpha • Jun 02

VersaBank: A Quiet Winner

Summary VersaBank is rated a long-term buy due to its unique, low-credit-loss business model and efficient branchless operations. VBNK's US Structured Receivable Program (SRP) is expected to drive significant earnings growth, with higher net interest margins than Canadian operations. The US SRP is projected to reach $1B USD by fiscal 2026, supporting efficiency ratios as low as 25% and robust asset growth. Key risks include potential NIM compression and capital ratio declines, but current metrics and management execution support the bullish thesis. Read the full article on Seeking Alpha
Seeking Alpha • Jan 04

VersaBank: High ROE, High Growth And Low Risk

Summary VersaBank in 2025 is at the cusp of rapid growth and delivering high ROE whilst maintaining a low-risk business model. The U.S. expansion aims to replicate Canadian success in the much larger U.S. POS segment. VersaBank is also adding capital-light income streams from syndicated fees and CMHC-insured loans. The ROE trajectory of the bank should exceed 20% and the valuation multiples could re-rate accordingly. Read the full article on Seeking Alpha

CEO Compensation Analysis

How has Susan McGovern's remuneration changed compared to VersaBank's earnings?
DateTotal CompensationSalaryCompany Earnings
Apr 30 2026n/an/a

CA$30m

Jan 31 2026n/an/a

CA$31m

Oct 31 2025CA$180kCA$30k

CA$28m

Jul 31 2025n/an/a

CA$29m

Apr 30 2025n/an/a

CA$31m

Jan 31 2025n/an/a

CA$34m

Oct 31 2024CA$124kn/a

CA$39m

Jul 31 2024n/an/a

CA$46m

Apr 30 2024n/an/a

CA$46m

Jan 31 2024n/an/a

CA$44m

Oct 31 2023n/an/a

CA$41m

Jul 31 2023n/an/a

CA$35m

Apr 30 2023n/an/a

CA$31m

Jan 31 2023n/an/a

CA$26m

Oct 31 2022CA$99kn/a

CA$22m

Jul 31 2022n/an/a

CA$21m

Apr 30 2022n/an/a

CA$21m

Jan 31 2022n/an/a

CA$21m

Oct 31 2021CA$89kn/a

CA$21m

Jul 31 2021n/an/a

CA$19m

Apr 30 2021n/an/a

CA$18m

Jan 31 2021n/an/a

CA$17m

Oct 31 2020CA$85kn/a

CA$17m

Jul 31 2020n/an/a

CA$18m

Apr 30 2020n/an/a

CA$18m

Jan 31 2020n/an/a

CA$18m

Oct 31 2019CA$64kn/a

CA$18m

Compensation vs Market: Susan's total compensation ($USD127.27K) is below average for companies of similar size in the US market ($USD3.54M).

Compensation vs Earnings: Susan's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Susan McGovern

1.2yrs
Tenure
CA$180,149
Compensation

Ms. Susan Teresa McGovern, B.Sc. has been an Independent Director of VersaBank since May 6, 2011 and also serves as its Vice Chair and also serves as its Interim Chief Executive Officer since May 2025. Ms....

Leadership Team

NamePositionTenureCompensationOwnership
Susan McGovern
Interim CEO & Vice Chair1.2yrsCA$180.15k0.12%
$ 851.0k
David Taylor
Group President & Director33.5yrsCA$3.45m4.22%
$ 29.5m
John Asma
Executive Vice Presidentless than a yearCA$894.17k0.037%
$ 260.5k
R. Clarke
Chief Operating Officer of VersaBank USA1.9yrsCA$876.33k0.062%
$ 434.2k
Michael Dixon
Senior Vice President1.5yrsCA$874.41k0.057%
$ 395.7k
Telemaco Matrundola
President of VersaBank USA & CEO of VersaBank USA1.9yrsCA$944.51k0.19%
$ 1.3m
Nicolas Ospina
Global Chief Financial Officerless than a yearno datano data
Wooi Koay
Chief Information Officer5.9yrsno data0.033%
$ 231.9k
Brent Hodge
Senior VPno datano data0.050%
$ 346.3k
Elizabeth Kuranoff
Chief Compliance Officer1.5yrsno data0.010%
$ 72.3k
Jonathan Francis Taylor
Global Chief Human Resources Officerno dataCA$674.08k0.069%
$ 481.4k
Nikola Kristo
Senior Vice President1.5yrsCA$862.02k0.031%
$ 217.1k
1.5yrs
Average Tenure
66yo
Average Age

Experienced Management: VBNK's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.

Board Members

NamePositionTenureCompensationOwnership
Susan McGovern
Interim CEO & Vice Chair15.2yrsCA$180.15k0.12%
$ 851.0k
David Taylor
Group President & Director33.5yrsCA$3.45m4.22%
$ 29.5m
Robbert-Jan Brabander
Independent Director16.7yrsCA$150.41k0.20%
$ 1.4m
Francis J. Newbould
Independent Chairman1.3yrsCA$105.58k0.095%
$ 666.4k
David Bratton
Independent Director32.8yrsCA$83.97k0.10%
$ 701.2k
Richard H. Jankura
Independent Director4.2yrsCA$101.59k0.026%
$ 180.2k
Gabrielle Bochynek
Independent Director7.3yrsCA$81.37k0.047%
$ 327.2k
Arthur Linton
Independent Director6.3yrsCA$74.37k0.021%
$ 143.3k
Peter Irwin
Independent Director5.5yrsCA$117.97k0.079%
$ 553.6k
Scott Verity
Directorless than a yearno data0.0064%
$ 45.0k
6.8yrs
Average Tenure

Experienced Board: VBNK's board of directors are considered experienced (6.8 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/13 22:30
End of Day Share Price 2026/07/13 00:00
Earnings2026/04/30
Annual Earnings2025/10/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

VersaBank is covered by 4 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Timothy SwitzerKeefe, Bruyette, & Woods
Joseph YanchunisRaymond James & Associates
Craig IrwinRoth Capital Partners