08:33 AM EDT, 06/14/2024 (MT Newswires) -- VersaBank ( VBNK ) , a Canadian digital bank, said Friday that it has received approval from the Office of the Comptroller of the Currency, an independent bureau of the US Treasury Department, to proceed with its proposed acquisition of Stearns Bank Holdingford.

The approval is the second and final US regulatory hurdle required for VersaBank ( VBNK ) to acquire Stearns, VersaBank ( VBNK ) said.

VersaBank ( VBNK ) said it will now seek approval for the Stearns acquisition from its Canadian regulator, the Office of the Superintendent of Financial Institutions.