Brief: Versabank Reports Results For First Quarter 2021

VersaBank

24/02/2021 12:19

Feb 24 (Reuters) - VersaBank  VB.TO :
    * VERSABANK REPORTS CONTINUING STRONG FINANCIAL RESULTS FOR
FIRST
QUARTER 2021 - RECORD PERFORMANCE IN BANKING OPERATIONS PLUS
SIGNIFICANT MOMENTUM IN CYBERSECURITY BUSINESS
    * VERSABANK - QTRLY TOTAL REVENUE INCREASED 14% YEAR OVER
YEAR AND
12% SEQUENTIALLY, TO A RECORD $15.4 MILLION
    * VERSABANK - QTRLY NET INCOME INCREASED 3% YEAR OVER YEAR
AND 11%
SEQUENTIALLY TO $5.3 MILLION, ITS THIRD HIGHEST REPORTED NET
INCOME IN ITS HISTORY
    * VERSABANK - QTRLY NET INTEREST MARGIN DECREASED 10 BPS OR
3%
YEAR OVER YEAR, HOWEVER, INCREASED 4 BPS OR 1% SEQUENTIALLY, TO
2.86%

Source text for Eikon:  ID:nCNW4pd08a 
Further company coverage:  VB.TO 

 ((Reuters.Briefs@thomsonreuters.com;))