VERSABANK CONGRATULATES RPP PARTNER ECN CAPITAL ON PRIVATIZATION TRANSACTION

Executive Summary

• VersaBank announced the completion of an additional funding tranche with Source One Financial Services (a subsidiary of ECN Capital), bringing total fundings to more than US$90 million.
• The release congratulates ECU Capital’s privatization transaction, highlighting the continued growth of VersaBank’s U.S. Receivable Purchase Program (RPP) and its expectation to expand RPP assets several‑fold in fiscal 2026.
• Management emphasizes the strategic importance of the partnership with ECN Capital and anticipates strong momentum for both Core RPP and Securitized RPP offerings in the United States.

Key Details

• Total cumulative funding from VersaBank to Source One now exceeds US$90 million.
• The additional tranche was completed on December 8, 2025 (announcement date).
• ECN Capital’s privatization transaction is noted as “recently announced,” with the buyer group controlled by Warburg Pincus LLC.
• VersaBank expects its U.S. RPP assets to grow “at a minimum of several fold in fiscal 2026.”
• Quote from David Taylor, Founder & President, VersaBank: emphasizes partnership strength and growth outlook for Core and Securitized RPP solutions.
• Quote from Steve Hudson, CEO, ECN Capital: highlights continued collaboration with VersaBank to enhance operational efficiency and generate additional revenue.

Notable Quotes

“Our partnership with Source One is further evidence of the attractiveness of VersaBank's Core RPP financing solution in the United States… We look forward to expanding our US RPP assets to grow at a minimum of several fold in fiscal 2026.” – David Taylor, Founder & President, VersaBank

“VersaBank has played an important role in the success of my companies… this new partnership reflects our continued efforts … to generate additional revenue utilizing VersaBank's innovative and attractive solution.” – Steve Hudson, CEO, ECN Capital Corp.