VersaBank (VB) has notable insider buying

VersaBank (:VB)

Nikola Kristo, a Senior Officer, acquired 2,000 Common Shares on an indirect ownership basis for registered holder CIBC - Non-Registered at prices ranging from $14.970 and $15.100 through the public market on December 20th, 2021. This represents a $30,135 investment into the company's shares and an account share holdings change of 50.0%.

David Roy Taylor, CEO and Director, acquired 12,000 Common Shares on an indirect ownership basis for registered holder RBC - David margin at prices ranging from $14.992 and $15.590 through the public market between December 16th, 2021 and December 21st, 2021. This represents a $181,746 investment into the company's shares and an account share holdings change of 12.2%.

VersaBank is a Canada-based chartered bank, which operates using an electronic branchless model. The Bank's point of sale financing (e-Commerce) division operates its receivable purchase program. The program involves purchasing loan and lease receivables from finance companies that operate throughout Canada in a variety of industries. Its commercial lending business provides financing solutions for commercial real estate, public sector/infrastructure financing, condominium financing and residential mortgages. The Bank re-organized its lending portfolio into the four asset categories: commercial real estate mortgages, commercial real estate loans, point of sale loans and leases, and public sector and other financing. It provides two primary services, including deposits and financing.