Versabank · TSX:VBNK
Versabank — Shareholder Meeting (April 2023)
21 slides from Versabank's shareholder meeting presentation, Apr 19, 2023
Slide 1: 2023 Annual General Meeting
2023 Annual General Meeting April 19, 2023 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 Chairman Gabrielle Bochynek Director Robbert-Jan Brabander Director David Bratton Director Peter Irwin Director Rick Jankura Director Art Linton Director Susan McGovern Director Paul Oliver Director David Taylor President & CEO
Slide 4: Senior Management
4 Senior Management Officers of the Bank: Additional Senior Management: David Taylor Joanne Johnston Gurpreet Sahota President & Chief Executive Officer Chief Internal Auditor Chief Operating Officer, DRT Cyber Inc. Shawn Clarke Wooi Koay Chief Financial Officer Lawrence Chamberlain Chief Informatio
Slide 5: Auditors
5 Auditors
Slide 6: Appointment of Auditors
6 Appointment of Auditors
Slide 7: Director Nominees
7 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: 2023 Annual General Meeting
2023 Annual General Meeting April 19, 2023
Slide 9: David Taylor, President & CEO
VersaBank Choice Through Innovation David Taylor President & CEO
Slide 10: Advisory
10 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 11: F2022 Strong Financial Performance
42% YoY growth in loan portfolio F2022 to record $2.99 B Strong Financial 74% YoY growth in POS business Performance Record revenue Record net interest income Without taking Record net income1 on additional risk Strong, profitable growth in Cybersecurity Services business
Slide 12: F2022 A Year of Investment in Future Growth
Proposed acquisition of US F2022 National bank US Launch of Receivables A Year of Purchase Program Investment in Future Growth Continued investment in our technology and innovative solutions for the future
Slide 13: Q1 2023 Key Metrics & Highlights: Record Results
13 Q1 2023 Key Metrics & Highlights: Record Results Consolidated YoY Sequential Digital Banking: Strong loan portfolio Total Revenue 42% 7% growth to another record: $3.24B Net Income 69% 46% Record quarterly revenue, net interest EPS 79% 48% income, net income and EPS Net Interest Margin 6 bps 2 bp
Slide 14: Momentum in Profitability and Long-Term Earnings Capacity
14 Momentum in Profitability and Long-Term Earnings Capacity 110,000 $104M 6,000 100,000 5,000 90,000 $82M 80,000 $3.53B 4,000 70,000 $65M $3.27B 60,000 $52M $54M $54M 3,000 $2.42B $49M $49M 50,000 $44M $1.94B $1.81B $1.79B 2,000 40,000 $1.73B $35M $27M $26M $26M $28M 30,000 $38M 1,000 20,000 $28M $
Slide 15: U.S. Receivables Purchase Program: A New Financing Solution
U.S. Receivables Purchase Program: A New Financing 15 Solution for a High-Growth but 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-ba
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: Near-Term Targets > $4 B
Capitalizing on the Significant Operating Leverage 17 in Our Core Digital Banking Operations Near-Term Targets Period of Investment in Future Growth Loan Portfolio Size $3.24 >$4B 62% $2.99 9.30% 10.29% 8.68% 8.20% 8.28% 55% 11.60% 50% $1.59 $1.65 $2.10 Efficiency Ratio <35% 52% 6.77% $1.52 $1.63 49
Slide 18: DRT Cyber: "Free Option" on Digital Banking Valuation
18 DRT Cyber: “Free Option” on Digital Banking Valuation One of North America’s Comprehensive Suite of Services: Premiere IT Security • External network, web and mobile app penetration testing Assurance Services Firms • Physical social engineering engagements • Supervisory control & data acquisition
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!
20 Our Time Has Arrived! VersaBank Choice Through Innovation
Slide 21: Banking on the Future!
2023 Annual General Meeting April 19, 2023 Banking on the Future!