VERSABANK ANNOUNCES THE APPOINTMENT OF RICHARD JANKURA TO THE BOARD OF DIRECTORS AND THE RETIREMENT OF LONG-SERVING DIRECTOR RICHARD CARTER

LONDON, ON, May 9, 2022 /PRNewswire/ – VersaBank (“VersaBank” or the “Bank”) (TSX: VBNK) (NASDAQ: VBNK), a leader in digital banking and cybersecurity solutions, today announced the appointment of Richard Jankura, CA , CPA to its Board of Directors and will assume the role of Chairman of the Risk Oversight Committee.

Mr. Jankura brings to the VersaBank Board of Directors more than four decades of experience as a financial and accounting executive with a wide range of senior management and board roles with private and public companies across a broad spectrum. range of industries, including financial services, manufacturing, services and software. Mr. Jankura most recently served as Corporate Advisor and Chief Financial Officer of The Jones Healthcare Group, a leading packaging solutions company. Previously, he was President and CEO of Delego Software Inc., a provider of secure credit card payment processing solutions for SAP users. Mr. Jankura has also held the position of Chief Financial Officer of Discovery Air, as well as several management positions at VersaBank, ACS Manufacturing Inc., Comcare Health Services, Ernst & Young Corporate Finance Inc., Working Ventures Canadian Fund Inc., Barclays Bank of Canada and Bank of Montreal. Mr. Jankura started his career at Coopers & Lybrand. Mr. Jankura currently chairs the board of directors of Goodwill Industries, Ontario Great Lakes and Renix Inc. and has previously served on the boards of a wide range of private companies and not-for-profit organizations, including Oak Trust Company as a member of the Audit Committee.

“I am very pleased to welcome Mr. Jankura to the VersaBank Board of Directors,” said The Honorable Thomas A. Hockin, Chairman of the VersaBank Board of Directors. “Mr. Jankura has a long and distinguished career in business, finance and accounting, including many years in the banking industry. We look forward to his contribution as VersaBank continues to pursue outsized long-term growth as a as a leader in digital banking and cyber security solutions.”

Mr. Jankura fills the position vacated by Richard (Dick) Carter, who is retiring from the Bank’s Board of Directors. Mr. Carter has been a director of VersaBank since 2014 and previously served as an audit partner for the Bank’s auditor, KPMG.

“On behalf of the Board of Directors, I would like to thank Mr. Carter for his many years of service on VersaBank’s Board of Directors, as well as for his role as Audit Partner,” said David Taylor, President and CEO, VersaBank. “Dick has been a tremendous asset to the board as VersaBank has blazed new trails in digital banking by Canada, and with our most recent entry into the US market with our proven point-of-sale financing solution. I know I speak for the entire board when I wish him well in his future endeavours.”

Current head of VersaBank Paul Olivier will assume the role of Chair of the Audit Committee, which became vacant with Mr. Carter’s retirement from the Board.

ABOUT VERSABANK

VersaBank is a Schedule I Canadian chartered bank with a difference. VersaBank became the world’s first all-digital financial institution when it embraced its highly efficient business-to-business model using its cutting-edge proprietary financial technology to cost-effectively reach underserved segments of the Canadian banking market in pursuit of a higher net interest margins while mitigating risk. VersaBank obtains all of its deposits and provides the majority of its loans and leases electronically, with innovative deposit and lending solutions for financial intermediaries that enable them to excel in their core businesses. In addition, leveraging its in-house developed IT security software and capabilities, VersaBank has established wholly owned, washington d.c.DRT Cyber ​​​​Inc., a subsidiary based in New York, to seize significant market opportunities in the field of cybersecurity and develop innovative solutions to address the growing volume of cyber threats that daily threaten financial institutions, corporations multinationals and government entities.

VersaBank’s common shares trade on the Toronto Stock Exchange (“TSX”) and NASDAQ under the symbol VBNK. Its Series 1 Preferred Shares trade on the TSX under the symbol VB.PR.A.

Visit our website at: www.versabank.com

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SOURCEVersaBank

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