VersaBank reports Q4 EPS 47c, consensus 28c

Reports Q4 Book value per common share $14.00, up 3% from the previous quarter. “Another record quarter capped off another record year as continued strong growth in our loan portfolio increasingly enabled us to capitalize on the significant operating leverage in our unique, branchless, business-to-business, partner-based digital banking model,” said David Taylor, President and CEO. “29% growth in total assets for the year, which pushed us well past our $4B milestone, drove an 86% increase in annual net income, improving our banking efficiency ratio for the year to 43% from 55% and return on common equity at the end of the year to just under 12% for the year and just under 14% for the Q4 from 7.3% last year.”