VersaBank to acquire Stearns Bank Holdingford after seeking regulatory approval
06/14/24, 7:28 PM
Location
minnesotaIndustry
banking
lending
financial services
VersaBank seeks permission from Canada's Office of the Superintendent of Financial Institutions (OSFI) to proceed with its acquisition of Stearns Bank Holdingford after securing approval from the Office of the Comptroller of the Currency (OCC) in the U.S. This strategic move is set to strengthen VersaBank's position in the U.S. financing sector and expand its innovative financing offerings.
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