VersaBank Files S-4 Registration Statement for Corporate Restructuring

VersaBank announced it has publicly filed a Form S-4 registration statement with the SEC in connection with the Bank's proposed plan to realign its corporate structure to a standard U.S. bank framework. Specifically, the Reorganization, among other things, will cause Versa Bancorp, a new Delaware corporation to become the holding company of VersaBank and VersaBank USA National Association. The Registration Statement has not been declared effective, and a result, the information contained therein is subject to change. Upon the Registration Statement being declared effective by the SEC, the Bank intends to convene a special meeting of shareholders at which it will seek approval of the Reorganization. In addition to the approval of shareholders, the completion of the Reorganization remains subject to various regulatory approvals, including approval by the Office of the Superintendent of Financial Institutions and Ministry of Finance in Canada and the Federal Reserve Board in the United States.