VersaBank completes acquisition of Stearns Bank Holdingford N.A. and launches innovative digital funding solution for the U.S. market
VersaBank completes acquisition of Stearns Bank Holdingford N.A. and launches innovative digital funding solution for the U.S. market
09/04/24, 7:45 AM
Location
minnesotaIndustry
banking
lending
financial services
VersaBank, a North American leader in digital banking, has successfully closed the acquisition of Stearns Bank Holdingford N.A. and has formally launched its unique Receivable Purchase Program (RPP) funding solution for the underserved multi-trillion-dollar U.S. market. This strategic acquisition reinforces VersaBank's commitment to expanding its innovative financial services to new markets, enabling the bank to provide its state-of-the-art digital solutions to a wider audience.
Company Info
Company info
VersaBank is a Canadian Schedule I chartered (federally licensed) bank with a difference. It became the world's first fully digital financial institution when it adopted its highly efficient business-to-business model in 1993 using its proprietary state-of-the-art financial technology to profitably address underserved segments of the Canadian banking market