07:50 AM EST, 11/03/2025 (MT Newswires) -- VersaBank ( VBNK ) said Monday its largest U.S. receivable purchase program (RPP) partner will begin using the bank's core RPP platform in the United States.

The bank said it has completed an initial funding of US$61 million with the new partner, bringing total U.S. RPP fundings in fiscal 2025 to US$310 million. RPP assets at year end totaled US$293 million, exceeding the bank's first-year target of US$290 million.

"We are thrilled to add our largest US RPP partner to date, further evidence of the attractiveness of VersaBank's ( VBNK ) RPP, and we look forward to expanding our relationship with this partner to our mutual benefit, while continuing to add new partners in the year to come," said VersaBank ( VBNK ) president David Taylor.

"Both our core RPP and our Securitized RPP offerings are gaining momentum in the US market, and we expect to expand our US assets at a minimum of several fold in fiscal 2026."