VersaBank (VBNK) has notable insider buying

VersaBank (T:VBNK)

John William Asma, a Senior Officer, acquired 5,000 Common Shares on an indirect ownership basis for registered holder National Bank - RSP at a price of $9.640 through the public market on November 8th, 2022. This represents a $48,200 investment into the company's shares and an account share holdings change of 100.0%.

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.