On August 24, 2026, VersaBank filed a Reorganization Agreement with its Delaware parent company, Versa Bancorp. The transaction involves converting all outstanding VersaBank common shares into new Exchangeable Shares on a one-for-one basis, which will then be automatically exchanged for one share of Versa Bancorp common stock per Exchangeable Share. This reorganization establishes Versa Bancorp as the holding company for VersaBank and its subsidiaries. The deal is contingent upon obtaining required regulatory approvals from Canadian authorities (Superintendent of Financial Institutions) and U.S. regulators (Federal Reserve), as well as shareholder approval by a two-thirds majority at a special meeting scheduled for September 16, 2026. Additionally, VersaBank will sell its interest in VersaHoldings US Corp to Versa Bancorp in exchange for a promissory note and subsequently distribute this note as a return of capital. VersaBank operates in the banking industry, providing financial services including lending and deposit-taking.

VersaBank announced the signing of a Reorganization Agreement and the filing and mailing of materials for a Special Meeting of Shareholders scheduled for September 16, 2026. The proposed reorganization aims to realign the company's corporate structure into a standard U.S. bank framework, making Versa Bancorp the direct or indirect holding company of VersaBank and its subsidiaries. Existing shareholders will hold equity interests in the new publicly traded parent entity following shareholder approval. The Board of Directors unanimously recommends voting for the proposal. This transaction follows the SEC's declaration of effectiveness for the related Registration Statement on August 4, 2026. VersaBank operates as a digital business-to-business bank and cybersecurity technology provider.