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VERSABANK CONGRATULATES RPP PARTNER ECN CAPITAL ON PRIVATIZATION TRANSACTION
VERSABANK CONGRATULATES RPP PARTNER ECN CAPITAL ON PRIVATIZATION TRANSACTION Canada NewsW...
About this update from Versabank
[{"type":"text","content":"\n\n\nVERSABANK CONGRATULATES RPP PARTNER ECN CAPITAL ON PRIVATIZATION TRANSACTION\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\nCanada NewsWire\n\n\nBank Completes Additional Funding with ECN Subsidiary, Source One, Bringing Total Fundings to Date to US$90 Million\nLONDON, ON, Dec. 8, 2025 /CNW/ - VersaBank (TSX: VBNK) (NASDAQ: VBNK), a North American leader in business-to-business digital banking, as well as technology solutions for cybersecurity, today congratulated its US Receivable Purchase Program (RPP) partner, ECN Capital Corp. (TSX: ECN) (\"ECN Capital\"), ECN founder and Chief Executive Officer, Steve Hudson and the purchasers of ECN Capital, and the investor group, controlled by Warburg Pincus LLC on the recently announced privatization transaction for ECN Capital. ECN Capital, through its wholly owned subsidiary, Source One Financial Services (\"Source One\"), is the unnamed largest US RPP partner to date recently added to the Bank's US RPP, as per the Bank's news release of November 3, 2025. VersaBank also announced completion of an additional funding with Source One, bringing total fundings with Source One to date to more than US$90 million.\n\n\n\n\n\n\n\n\"VersaBank has a long and successful history of working with ECN Capital founder and point-of-sale financing veteran, Steve Hudson, and we are thrilled to further our relationship through our partnership with ECN as it moves into its next stage of growth as a private company,\" said David Taylor, Founder and President, VersaBank.  \"Our partnership with Source One is further evidence of the attractiveness of VersaBank's Core RPP financing solution in the United States. I would like to congratulate all on their recently announced transaction. We look forward to expanding our relationship with ECN to our mutual benefit. Both our Core RPP and our Securitized RPP offerings have strong momentum in the US market, and we expect to expand our US RPP assets to grow at a minimum of several fold in fiscal 2026.\"\n\"I am excited to once again partner with VersaBa...