VERSABANK acquires Stearns Bank Holdingford

VersaBank completes acquisition of Stearns Bank Holdingford N.A. and launches innovative digital funding solution for the U.S. market

09/04/24, 7:45 AM

Location

minnesota

Industry

banking

lending

financial services

VersaBank, a North American leader in digital banking, has successfully closed the acquisition of Stearns Bank Holdingford N.A. and has formally launched its unique Receivable Purchase Program (RPP) funding solution for the underserved multi-trillion-dollar U.S. market. This strategic acquisition reinforces VersaBank's commitment to expanding its innovative financial services to new markets, enabling the bank to provide its state-of-the-art digital solutions to a wider audience.

Company Info

Company

VERSABANK

Company info

VersaBank is a Canadian Schedule I chartered (federally licensed) bank with a difference. It became the world's first fully digital financial institution when it adopted its highly efficient business-to-business model in 1993 using its proprietary state-of-the-art financial technology to profitably address underserved segments of the Canadian banking market

Company news

Fri, 25 Apr 2025 07:00:00 GMT

VERSABANK ANNOUNCES THE RESULTS OF ITS 2025 MEETING OF SHAREHOLDERS - PR Newswire

Mon, 28 Apr 2025 11:00:00 GMT

VERSABANK RECEIVES TSX APPROVAL FOR NORMAL COURSE ISSUER BID - PR Newswire

Fri, 28 Jun 2024 07:00:00 GMT

VersaBank’s cross-border acquisition of Minnesota lender gets final nod - Banking Dive

Mon, 09 Dec 2024 08:00:00 GMT

VERSABANK FOURTH QUARTER AND FISCAL 2024 RESULTS CONTINUE TO DEMONSTRATE STRENGTH OF BUSINESS MODEL AS BANK LAUNCHES PROVEN RPP SOLUTION IN US MARKET - PR Newswire Canada

Wed, 05 Mar 2025 08:00:00 GMT

VERSABANK FIRST QUARTER 2025 RESULTS CONTINUE TO DEMONSTRATE STRENGTH OF BUSINESS MODEL AS BANK RAMPS UP PROVEN RPP SOLUTION IN US MARKET - PR Newswire

Wed, 05 Mar 2025 08:00:00 GMT

VERSABANK DECLARES DIVIDENDS - PR Newswire

Mon, 27 Jan 2025 08:00:00 GMT

VERSABANK TRANSFERS DIGITAL DEPOSIT RECEIPT ASSETS AND OTHER RESOURCES TO WHOLLY OWNED SUBSIDIARY FOCUSED EXCLUSIVELY ON DIGITAL ASSET OPPORTUNITY - PR Newswire

Thu, 17 Apr 2025 07:00:00 GMT

VERSABANK ADDS SECOND US RPP PARTNER; RAPIDLY SURPASSES US$70 MILLION IN US RPP ASSETS IN JUST 75 DAYS - PR Newswire

Fri, 31 Jan 2025 08:00:00 GMT

VERSABANK ANNOUNCES WATERCRESS FINANCIAL AS ITS US RECEIVABLE PURCHASE PROGRAM PARTNER - PR Newswire

Tue, 22 Apr 2025 07:00:00 GMT

VERSABANK'S 2025 ANNUAL MEETING ON APRIL 24 TO BE LIVESTREAMED FROM NASDAQ MARKETSITE IN NEW YORK CITY / BANK TO RING NASDAQ CLOSING BELL APRIL 25 - PR Newswire

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Trends

	Raised	Growth The data in the raised column shows reported funding for this location/industry over last 90 days. The data in the growth column indicates the % increase or decrease of the last 90 days vs. the previous 90 days. Please note: one or more large fundings, especially for a location/industry that doesn't historically receive much funding, can have a significant impact on the increase or decrease percentage.
lending	$349.4 M	-64.6%
banking	$239.3 M	-72.6%