VersaBank (VBNK)* $10.06 – See Stats below. Other than the price pop this week the company looks perfect for a long term positioning to own. Trading might be a bit difficult due to the low float, wide spread in the bid/ask and daily trading volume below 10,000 shares.
VBNK is closing on the purchase of a small Minnesota Bank in the USA that will give them status as a US Bank licensed in all 50 states. The USA market is significantly larger than the Canadian market for what VersaBank does. Management believes the profit margin will be greater for VBNK in the USA than what they have in Canada. Future plans expressed, is expansion into Europe. Continue reading