VersaBank (VBNK) has notable insider buying

VersaBank (T:VBNK)

David Roy Taylor, CEO and Director, acquired 5,000 Common Shares on a direct ownership basis at a price of $7.000 through an exercise of options on September 15th, 2023. The insider also acquired 35,000 Common Shares on an indirect ownership basis for registered holder Scotia - David margin at a price of $7.000 through an exercise of options on September 15th, 2023. This represents a $280,000 investment into the company's shares and an account share holdings change of greater than 100%.

VersaBank is a Canada-based chartered bank. The Bank provides commercial lending and banking services in Canada and the United States, as well as cybersecurity services and banking and financial technology development services through the operations of its wholly owned subsidiary DRT Cyber Inc. (DRTC). It operates through two segments: Digital Banking and DRTC (cybersecurity services). Digital Banking segment obtains its deposits and provides its loans and leases electronically via deposit and lending solutions for financial intermediaries. DRTC segment develops solutions to address the volume of cyber threats challenging financial institutions, multi-national corporations and government entities. Its loan portfolio includes point-of-sale loans and leases, commercial real estate mortgages, commercial real estate loans and public sector and other financing. It also offers tax-free savings accounts, guaranteed investment certificates, and registered retirement savings plans.