By Katherine Hamilton
VersaBank shares fell after its first-quarter earnings missed expectations.
The stock declined 13%, to 15.07 Canadian dollars (US$10.47), in Toronto, and was down about 10%, to US$10.67, on the Nasdaq. It has lost about 8% of its value over the past year.
The London, Ontario, digital banking company posted a profit of C$8.1 million, or 28 cents a share, for the three months ended Jan. 31, compared with C$12.7 million, or 48 cents a share, the previous year.
Revenue fell 4%, to C$27.8 million, behind the C$30.4 million expected by analysts, according to FactSet.
VersaBank said it had lower overall net interest margin and low non-interest income.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
March 05, 2025 15:28 ET (20:28 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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