Versabank · TSX:VBNK
Versabank — Shareholder Meeting (April 2024)
21 slides from Versabank's shareholder meeting presentation, Apr 17, 2024
Slide 1: Banking on the Future!
2024 Annual and Special Meeting April 17, 2024 Banking on the Future!
Slide 2: Hon. Thomas A. Hockin, Chair
VersaBank Choice Through Innovation Hon. Thomas A. Hockin Chair
Slide 3: Board of Directors
3 Board of Directors Honourable Thomas A. Hockin Chair Susan McGovern Director and Vice-Chair Gabrielle Bochynek Director Robbert-Jan Brabander Director David Bratton Director Peter Irwin Director Rick Jankura Director Art Linton Director Paul Oliver Director David Taylor President & CEO
Slide 4: Senior Management
4 Senior Management Officers of the Bank: David Taylor Jon Taylor Additional Senior Management: President & Chief Executive Officer Chief Human Resources Officer Gurpreet Sahota Tel Matrundola Jim Gardiner President, DRT Cyber Inc. Executive Vice President Real Estate Credit Officer Lawrence Chamber
Slide 5: Auditors
5 Auditors
Slide 6: Appointment of Auditors
6 Appointment of Auditors
Slide 7: Election of Directors: Director Nominees
7 Election of Directors Director Nominees Honourable Thomas A. Hockin David Taylor Gabrielle Bochynek Robbert-Jan Brabander David Bratton Peter Irwin Richard Jankura Art Linton Susan McGovern Paul Oliver
Slide 8: Renewal of the Bank's Omnibus Long-Term Incentive Plan
Renewal of the Bank’s Omnibus Long-Term Incentive Plan
Slide 9: 2024 Annual and Special Meeting
2024 Annual and Special Meeting April 17, 2024
Slide 10: David Taylor, President & CEO
VersaBank Choice Through Innovation David Taylor President & CEO
Slide 11: Advisory
11 Advisory The Bank occasionally makes forward-looking statements about its objectives, operations and targeted financial results. These statements may be written or verbal and may be included in such things as press releases, corporate presentations, annual reports and other disclosure documents a
Slide 12: F2023: Another Year of Record Financial Performance
29% YoY growth in total assets to F2023 record $4.20 B 29% YoY growth in loan portfolio Another Year of to record $3.85 B Record Financial 30% YoY growth in POS business Performance 99% Earnings Per Share Realizing the 86% Net income Significant Strong, profitable growth in Operating Leverage Cybers
Slide 13: FY 2023 Key Metrics & Highlights: Record Results
13 FY 2023 Key Metrics & Highlights: Record Results1 Total Assets $4.20B Loan Portfolio $3.85B Digital Banking 43% Efficiency Rati0 1,193 bps (22%) Loan Growth YoY 29% YoY Total Revenue YoY 32% Ave. Return on Common Equity 11.75% 514 bps Net Income YoY 86% (ROCE) YoY (78%) EPS YoY 99% Realizing sign
Slide 14: Momentum in Profitability and Long-Term Earnings Capacity
14 Momentum in Profitability and Long-Term Earnings Capacity 180 $4.20B 5 160 4 140 $3.27B 4 120 $109M 3 $ CAD (millions) $ CAD (billions) $2.42B 100 3 $82M $1.81B $1.94B 80 $1.79B $65M 2 60 $52M $54M $54M $49M $50M 2 $35M 40 $26M $26M $28M 1 $42M 20 $28M 1 $18M $20M $19M $22M 0 0 2018 2019 2020 202
Slide 15: Q1 2024 Key Metrics & Highlights: Record Results
15 Q1 2024 Key Metrics & Highlights: Record Results Consolidated YoY Digital Banking: Strong loan portfolio Total Revenue 11% growth to another record: $3.98B Net Income 35% Record net interest income, net income and EPS 41% EPS Net Interest Margin 35 bps Digital Banking Efficiency Ratio (excl. DRTC
Slide 16: Acquisition of OCC-Chartered, National US Bank
Acquisition of OCC-Chartered, National US Bank: 16 Transformational Next Step in Long-Term Growth Strategy Definitive Agreement to Platform for significant growth in the United States Acquire Minnesota-based • Provides access to U.S. deposits to fuel growth of the Stearns Bank Holdingford U.S. Recei
Slide 17: U.S. Receivables Purchase Program (RPP)
U.S. Receivables Purchase Program (RPP): A New Financing 17 Solution for a High-Growth, Underserved Market Strong growth in U.S. Point-of-Sale financing Same attractive, reliable activity driven by technology & increasing consumer alternative solution that has been preference for non-credit card/non
Slide 18: Capitalizing on the Significant Operating Leverage; Next Milestones
Capitalizing on the Significant Operating Leverage 18 in Our Core Digital Banking Operations Period of Investment in Future Growth Next Milestones 62% 55% 50% 49% 52% 13.41% Total Assets 11.75% 47% >$5B >$6B 43% 10.29% 40% 8.50% 8.89% 8.45% 6.61% $4.20 $4.31 7.89% $3.85 $3.98 Efficiency Ratio <40% <
Slide 19: Why VersaBank? Why Now?
19 Why VersaBank? Why Now? At inflection point for operating leverage, earnings growth and ROCE generation based on expected continued strong growth in Canada and entry into the U.S Proposed acquisition of national, chartered US bank provides access to $1.8T market for highly unique Receivables Purc
Slide 20: Our Time Has Arrived!
Our Time Has Arrived! VersaBank Choice Through Innovation 20
Slide 21: Banking on the Future!
2024 Annual and Special Meeting April 17, 2024 Banking on the Future!